Tag: Middle Class

GOP tax plan doubles down on policies that are crushing the middle class

The following article by Steven Pressman, Professor of Economics at Colorado State University, was posted on the Conversation website December 20, 2017:


GOP tax plan doubles down on policies that are crushing the middle class
December 20, 2017 6.26am EST
A big part of that check is being drawn from middle-class accounts. AP Photo/Jacquelyn Martin

The U.S. middle class has always had a special mystique.

It is the heart of the American dream. A decent income and home, doing better than one’s parents, and retiring in comfort are all hallmarks of a middle-class lifestyle.

Contrary to what some may think, however, the U.S. has not always had a large middle class. Only after World War II was being middle class the national norm. Then, starting in the 1980s, it began to decline.

President Donald Trump has portrayed the tax plan Congress is wrapping up as a boon for the middle class. The sad reality, however, is that it is more likely to be its final death knell. Continue reading “GOP tax plan doubles down on policies that are crushing the middle class”

What France and the UK can teach Trump about reviving America’s middle class

The following article by Steven Pressman was posted on the Conversaion website May 11, 2017:

America’s middle class is in deep trouble.

Signs of its decline are everywhere, from stagnant incomes and falling wealth to soaring household debt and the rise of populist politicians promising a return to the “glory days.”

While there is near universal agreement that a thriving middle class is essential to long-term economic prosperity, we’re deeply divided about what builds it. Conservatives, such as those in the White House and in control of Congress, contend that lower taxes are a key ingredient. Liberals argue it comes down to government policies that give low earners a leg up and support those already in the middle. Continue reading “What France and the UK can teach Trump about reviving America’s middle class”