Middle Class Meltdown on Flipboard

By DJ Spiess | The slow destruction of the middle class in America.

Why isn't the middle class earning $156,000 a year?

New York (CNN) — Everyone knows the Top 1% have been killing it in recent decades, while most Americans have seen their incomes stagnate.

But what if the middle class were doing as well as the richest Americans? What would their annual income be?

CNNMoney asked the Economic Policy Institute, a …

Middle Class

Top CEOs Make 300 Times More than Typical Workers: Pay Growth Surpasses Stock Gains and Wage Growth of Top 0.1 Percent

The chief executive officers of America’s largest firms earn three times more than they did 20 years ago and at least 10 times more than 30 years …

Salaries & Wages

The energy revolution that has 1 percenters shaking in their boots

Director Shalini Kantayya talks to Salon about the incredible potential of solar power

When you hear about Richmond, California — on the environmental beat, at least — it’s usually in the context of the Chevron oil refinery, one of the country’s biggest, that casts its long shadow over the city. …

Energy

Pay low-income families more to boost economic growth, says IMF

The idea that increased income inequality makes economies more dynamic has been rejected by an International Monetary Fund study, which shows the widening income gap between rich and poor is bad for growth.

A report by five IMF economists dismissed “trickle-down” economics, and said that if …

Economics

Why I Defaulted on My Student Loans

ONE late summer afternoon when I was 17, I went with my mother to the local bank, a long-defunct institution whose name I cannot remember, to apply for my first student loan. My mother co-signed. When we finished, the banker, a balding man in his late 50s, congratulated us, as if I had just won …

Loans

How women can restore America's middle class

As women dominate U.S. college campuses and more start running their own businesses, they may very well be the solution for rebuilding U.S. prosperity.

Before World War II raged, 12 million women comprised a quarter of America’s workforce. Conflagration drew another 6 million into the war effort. …

Gender Pay Gap

Bernie Sanders: Economy 'Rigged' For Wealthy, Income Inequality A 'Moral Issue'

Bernie Sanders: Economy ‘Rigged’ For Wealthy, Income Inequality A ‘Moral Issue’ (VIDEO)

June 1, 2015Dan Simpson US

Vermont Senator Bernie Sanders, who …

Bernie Sanders

Elizabeth Warren On Rise Of The 1099 Economy: “A Real Problem”

The Democratic senator avoided directly answering whether Uber and Lyft drivers should be classified as employees, but did weigh in on the changing nature of contract workers.

Massachusetts Sen. Elizabeth Warren on Tuesday dodged addressing whether contract workers for on-demand services such as …

Elizabeth Warren

America Has the Worst Vacation Policies Of Any Developed Country

A hiring manager friend once said he'd never consider an applicant who asked about vacation policies during the interview process. Inquiring about …

The Reality of Surviving Exhausting, Desperation-Inducing Poverty

This post first appeared at TalkPoverty.

I have lived in poverty both as a child and as an adult, and I can say with full confidence that it is a …

The Middle Class Has a Debt Problem

Of all the burdens weighing on the American middle class, one has grown immensely in recent years: debt. Absent reform, it presents one of the gravest threats to the prosperity of the typical family.

Read more in this series:
How to Save the Middle Class
Bring Back American Enterprise
Robots Versus the …

Wisconsin Republicans Don’t Want Food Stamp Recipients Buying Beans, Potatoes, Pasta Sauce

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"Wisconsin Republicans Don’t Want Food Stamp Recipients Buying Beans, Potatoes, Pasta Sauce"

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CREDIT: Flickr//Thomas Hawk

Low-income …

Most millionaires say they're middle class

Billionaire David Tepper once called himself a "middle-class dad trapped in a rich man's body." Most millionaires, it turns out, have similar feelings …

G.O.P. Hopefuls Now Aiming to Woo the Middle Class

WASHINGTON — The last three men to win the Republican nomination have been the prosperous son of a president (George W. Bush), a senator who could not recall how many homes his family owned (John McCain of Arizona; it was seven) and a private equity executive worth an estimated $200 million (Mitt …

Elections

Why Screwing Unions Screws the Entire Middle Class

Read more: The 10 richest members of Congress, CEO pay vs. American worker pay, and more infographics on the new gilded era.

IN 2008, A LIBERAL

Texas Sends Poor Teens To Adult Jail For Skipping School

More than a thousand Texas teenagers have been ordered to lockup on charges that stem from missing school, often because they have unpaid court fines. The costs to their education are high. Some, like Serena Vela, never go back.

The 11th-grader in the courtroom wore braces, loved Harry Potter movies, …

Robert Reich: America’s “flexible” economy is making workers’ lives hell

The former secretary of labor on the need for a federal law requiring employers to pay for scheduled work

These days it’s not unusual for someone on the way to work to receive a text message from her employer saying she’s not needed right then.

Although she’s already found someone to pick up her kid …

The day I bought steak with my food stamps

I cried every night, the week before I finally applied for food stamps. I was so ashamed. Food stamps are for losers, people who make stupid, …

Driver’s License Suspensions Create Cycle of Debt

LEBANON, Tenn. — The last time Kenneth Seay lost his job, at an industrial bakery that offered health insurance and Christmas bonuses, it was because he had been thrown in jail for legal issues stemming from a revoked driver’s license. Same with the three jobs before that.

In fact, Mr. Seay said, …

Driver's Licenses

The Real Reason College Tuition Costs So Much

BOULDER, Colo. — ONCE upon a time in America, baby boomers paid for college with the money they made from their summer jobs. Then, over the course of the next few decades, public funding for higher education was slashed. These radical cuts forced universities to raise tuition year after year, which …

College & University

Middle Class, but Feeling Economically Insecure

It’s not only what you have, but how you feel.

When it comes to membership in the middle class, earnings and assets are just part of the definition. Nearly nine out of 10 people consider themselves middle class, as a recent survey by the Pew Research Center found, regardless of whether their incomes …

Middle Class

87 percent of Americans call themselves some version of 'middle class'

Working, but Needing Public Assistance Anyway

A home health care worker in Durham, N.C.; a McDonald’s cashier in Chicago; a bank teller in New York; an adjunct professor in Maywood, Ill. They are all evidence of an improving economy, because they are working and not among the steadily declining ranks of the unemployed.

Yet these same people …

Food Stamps

Most Public Assistance Goes to Working Families

“When companies pay too little for workers to provide for their families, workers rely on public assistance programs to meet their basic needs,” Ken Jacobs, chair of the Center for Labor Research and Education and co-author of the report, said in a release. “This creates significant cost to the …

Statistics

8 striking parallels between the U.S. and the Roman Empire

Is our republic coming to an unceremonious end? History may not be on America's side

Lawrence Lessig’s Republic Lost documents the corrosive effect of money on our political process. Lessig persuasively makes the case that we are witnessing the loss of our republican form of government, as …

Baltimore's Delinquent Water Bills Tap a Wellspring of Concern

Posted on Apr 7, 2015 in Social Commentary and Trends | 0 comments

Baltimore’s Inner Harbor (CREDIT: Shutterstock)

Starting this week, 25,000 …

Why the middle class is still getting snared by the 'wealth tax'

(CNN) — You may vaguely recall that in 2012 Congress "fixed" the Alternative Minimum Tax -- or what the Tax Policy Center dubbed "the epitome of pointless complexity."

But that doesn't mean the so-called "wealth tax" was simplified or eliminated.

The AMT is still alive and complicated. What lawmakers …

Middle Class

Soaring rental prices are forcing some Denver renters to out of their apartments

DENVER - The cost to live in Denver is rising and pushing some renters into the house-buying market, but forcing others out of their homes.

Maria …

Denver