Middle Class Meltdown

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

On His First Day in Office, Trump Raises Taxes on Middle-Class Homebuyers

In one of the first official acts of his presidency, Donald Trump has increased taxes on a million middle-class homebuyers.<p>The Department of Housing …

Mortgages

Millennials are falling behind their boomer parents, study says

SOUTH MILWAUKEE, Wisconsin (AP) — Baby Boomers: your millennial children are worse off than you.<p>With a median household income of $40,581, …

It costs $233,610 to raise a child

<b>New York (CNN) —</b> If you're thinking of starting a family, youmight be in for some sticker shock: Raising a child could cost you nearly a quarter of a million dollars.<p>A middle-income, married couple with two children is estimated to spend $233,610 to raise a child born in 2015, according to a report …

Parenting

The Champions of the 401(k) Lament the Revolution They Started

Herbert Whitehouse was one of the first in the U.S. to suggest workers use a 401(k). His hope in 1981 was that the retirement-savings plan would supplement a company pension that guaranteed payouts for life.<p>Thirty-five years later, the former Johnson & Johnson human-resources executive has …

Retirement

U.S. inequality keeps getting uglier

<b>New York (CNN) —</b> Inequality in America is getting worse.<p>The gap between the "haves" and "have nots" is widening, according to the latest data out this week.<p>The rich are money-making machines. Today, the top mega wealthy -- the top 1% -- earn an average of $1.3 million a year. It's more than three …

Equality

How to Kill the Middle Class

Strangling public-sector unions in Wisconsin has shrunk teachers’ pay and benefits. Who’s next?<p>Back in 2009, Rick Erickson was happy with his job as a teacher in one of the state’s northernmost school districts on the shores of Lake Superior. He made $35,770 a year teaching chemistry and physics, …

Unions

Why even half the middle class is living paycheck to paycheck

It’s an election year so buzzwords like “income inequality,” “the working poor” and “American dream” are ubiquitous. But there’s one thing …

The decline of the middle class is causing even more economic damage than we realized

I have just come across an International Monetary Fund working paper on income polarization in the United States that makes an important contribution to the secular stagnation debate. The authors — Ali Alichi, Kory Kantenga and Juan Solé — use standard econometric techniques to estimate the impact …

Justice

FIU Study: Middle Class Is Shrinking

The middle class has fewer and fewer job opportunities in Florida according to the newest edition of an annual report called “The State of Working …

Middle-class

How to View a Richer Year for the Poor and Middle Class

The Upshot provides news, analysis and graphics about politics, policy and everyday life. Follow us on Facebook and Twitter. Sign up for our newsletter.<p>The income and poverty report released on Tuesday by the Census Bureau was such a blockbuster that you’d think the bureau had just issued Beyoncé’s …

Middle-class

America’s Inequality Problem: Real Income Gains Are Brief and Hard to Find

For all but Americans at the very top, that means that the punch bowl may well be taken away again before the party really gets going. That is not how a well-functioning economy should work.<p>Working families finally got a raise.<p>Early on Tuesday, the Census Bureau provided some long-awaited good news …

Equality

Study: A shrinking middle class in Florida means more economic polarization

Florida is becoming more economically polarized between the have-plenties and the have-very littles.

Middle-class

Don't Blame Globalization For Western Middle-Class Woes, Blame Government Policy

I used to work for banks. Now I write about them, and about finance and economics generally. Although I originally trained as a musician and singer, I worked in banking for 17 years and did an MBA at Cass Business School in London, where I specialized in financial risk management. I’m the author of …

Finance

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. …

Kingdom of Denmark

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

We will rue the day we did not use this period of ultra-low interest rates to invest in infrastructure and put our people to work<p>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 …

Who’s getting rich off your student debt?

The student loan program was supposed to help open the door to higher education, but it’s become something else: a profit center for Wall Street and …

Loans

Middle class vanishing as income gap widens

A recent study by the Pew Research Center found a widening wealth gap is moving more households into either higher- or lower-income groups in major …

Middle-class

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

The American middle class is declining. As our middle class falls, our political temperature rises. Crane Brinton’s likening of political revolution …

Middle-class

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 …

Retirement

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 …

Apparently We Need More Bureaucracy To Save The Middle Class

I'm a Fellow at the Adam Smith Institute in London, a writer here and there on this and that and strangely, one of the global experts on the metal scandium, one of the rare earths. An odd thing to be but someone does have to be such and in this flavour of our universe I am. I have written for The …

United Kingdom

The Death Of The American Middle Class Has Been Greatly Exaggerated

I am a professor of economics at The University of Georgia and consultant on economic issues to a variety of corporations and local governments. Taking a generally free market, libertarian perspective, I use economics as the lens to analyze government policies from the local to the international …

Middle-class

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 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 …

Justice

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 …

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

ROBERT B. REICH is Chancellor's Professor of Public Policy at the University of California at Berkeley and Senior Fellow at the Blum Center for …