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”