Middle Class Meltdown

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

Column: Denmark has figured out the only way to save the American Dream

Denmark may be the best country in the world for a poor kid to grow up in, but that's not because they're more likely to get a middle class job. …

Denmark

Fixing wealth inequality: future generations will think us mad, and they will be right

If there is one global political and economic lesson to be drawn from the Brexit experience and the rise of Sanders and Trump let it be this; we ignore the distributional outcomes of globalisation and unfettered market capitalism at our peril.<p>Distributional concerns are the traditional preserve of …

Wealth

Who’s getting rich off your student debt?

• Camerado, “True Game (Reveal show theme)” (Cut-Off Man Records)<br>• Neu, “Hallogallo” from “Neu!” (Astralwerks / EMI)<br>• YEYEY, “Wild Things (instrumental)” …

Loans

Middle class vanishing as income gap widens

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Are you shrinking along with the middle class?

The declining middle class has become a major theme in this year's presidential election. It's a catch-all topic that touches on all sorts of problems that candidates like to hit, from jobs being lost to China to student loans, costly medical care and the nation's falling rate of homeownership.<p>So …

Wealth

The disappearing middle class, and a nation, on the brink

Lesson from Rome:  Concentration of wealth destroys democracy.

Minneapolis

Failing Central States Pension Fund is out of options - May. 20, 2016

What happens when a pension fund runs out of money?<p>One of the biggest private pension funds in the country is almost out of money, and fresh out of options.<p>The Central States Pension Fund has no new plan to avoid insolvency, fund director Thomas Nyhan said this week. Without government funding, the …

Pension Funds

These 5 Facts Explain the Unstable Global Middle Class

The growth of a global middle class is one of the great successes of globalization. But rising quality of life begets rising expectations that many governments are ill-equipped to manage. In an interconnected global economy, that becomes a problem for all of us. These five facts explain the rise of …

Globalization

Apparently We Need More Bureaucracy To Save The Middle Class

I can think of various reasons why we might want to preserve the American middle class: that lifestyle is the finest that any large group of humans has ever been able to enjoy, all the way back to Ur of the Chaldees. The standard suburban ranch style, indoor work with no heavy lifting and bounteous …

Public policy

The Death Of The American Middle Class Has Been Greatly Exaggerated

To borrow from Mark Twain, a whole lot of people seem intent on reporting if not the death of the American middle class, then at least its demise. Thanks to a Pew Research Report, reported here by the Chicago Tribune as one example, casual readers assume the reports on the death of the American …

Justice

Shame on us for creating middle class minority

I’d like to tell you a little about my family.<p>My grandpa was a farmer. Born just after the turn of the last century. Married during the Roaring ‘20s, …

The Digital Disparities Facing Lower-Income Teenagers

Teenagers in lower-income households have fewer desktop, laptop and tablet computers to use at home than their higher-income peers, according to a new study. And those disparities may influence more than how teenagers socialize, entertain themselves and apply for college or jobs.<p>At a time when …

Teens

The hidden inequality of who dies in car crashes

Traffic fatalities in the United States have been plummeting for years, a major victory for regulation (strict drunken driving laws have helped) and auto innovation (we have safer cars). But that progress obscures a surprising type of inequality: The most disadvantaged are more likely — and have …

Social issues

America will die old and broke: The systematic right-wing plot to ransack the middle-class nest egg

Despite what conservatives say, the safety net works—which is why the 1 percent wants to stage a hostile takeover<p>Through a quirk in state term limits combined with a terrible midterm election, the Nevada legislature has been taken over by amateurs and extremists. The legislature is now debating …

Liberal News

The "Paid-What-You're-Worth" Myth

Low Skilled Humans Need Not Apply: Exponential Job Disruption

I wish to emphasise before I begin that robots taking jobs is not the problem, the issue is the current <b>government policies</b> that are not ready to …

Economics

The Gap is ending on-call schedules. Here's why the practice was making workers miserable.

In recent years, labor rights groups have campaigned against a common management tactic called on-call scheduling. In an effort to save costs, many retailers require workers to call in just an hour or two before a shift starts to find out if they'll be able to work. That uncertainty can create …

Here's Why There's No Such Thing as Free Public Education Anymore

It’s nearly back-to-school time, which means parents and kids will soon be heading to stores to stock up on all the supplies needed to complete …

Education

How Rich People Raise Rich Kids

Even when they’re adopted, the children of the wealthy grow up to be just as well-off as their parents.<p>Lately, it seems that every new study about social mobility further corrodes the story Americans tell themselves about meritocracy; each one provides more evidence that comfortable lives are …

Wealth

Noam Chomsky: The United States is totally isolated

The iconic philosopher on America's broken education system and the lasting influence of the Monroe Doctrine<p>We’re pleased to publish another interview with Professor Noam Chomsky. In this recent conversation with Dan Falcone, a Washington DC–based high school history teacher, Chomsky builds on our …

Noam Chomsky

Work and Worth

Is the American Dream dying?

Cezar Iordan came to the U.S. from Romania when he was 20.<p>He didn't know anyone, and he didn't speak English. He had only $100 in his pocket. But he was determined to succeed.<p>Now 10 years later, Iordan runs a successful moving business called Moovers Chicago. He has a bachelor's degree, and owns a …

Why isn't the middle class earning $156,000 a year? - Jul. 1, 2015

Volcker: Opportunities 'not as great as they were'<p>Everyone knows the Top 1% have been killing it in recent decades, while most Americans have seen their incomes stagnate.<p>But what if the middle class were doing as well as the richest Americans? What would their annual income be?<p>CNNMoney asked the …

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 …

The energy revolution that has 1 percenters shaking in their boots

Director Shalini Kantayya talks to Salon about the incredible potential of solar power<p>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.<p>A report by five IMF economists dismissed “trickle-down” economics, and said that if …

Social issues

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.<p>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

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

Bernie Sanders: Economy ‘Rigged’ For Wealthy, Income Inequality A ‘Moral Issue’ (VIDEO)<p>June 1, 2015Dan Simpson Economics, US<p>Vermont Senator Bernie …

Bernie Sanders