America's Middle Class: Saving The American Dream Analysis
America’s Middle Class: Saving the American Dream
The American middle class is growing since the Great Depression and is steadily brining in money, but still live paycheck to paycheck. If American’s don’t pay attention to the biggest threat of the middle class, it can increase the overall depression with debt, top rate taxes, and political differentiation.
Debt
The authors (Sullivan et al., 2001), discover that financial stability for many middle-class Americans is all too fragile (para. 1). There’s just no way to progress ahead financially, support a family, and eventually retire with that sort of income. Graduating college students every year earn great paying jobs, but the education costs has rise steeply and are left with several years of student loans. From the past three decades, college prices has sky-rocketed by more than 1,200 percent (Appel, Taylor, 2015, para. 2). Majority of the middle class don’t expect to become rich or famous, but it’s ideal to expect a living wage and acceptable benefits. We need to start thinking of the consequences, and set goals for our future and our children. In addition, it is hardly manageable, but attempt to build …show more content…
For example, the effect of a home mortgage interest deduction to the rich will be unnoticeable. Otherwise, if there is a couple in the middle class, working hard for their money, an argument will arise and there will be a fight. No matter what class you categorize yourself to be, either it is the poor, middle, or rich class, none of them can dodge paying taxes, or else they can face various penalties provided by law, and be guilt of a felony. There is no such element as good tax. Unfortunately, the middle class is burden to pay top rate taxes. However, is top rate taxes the most effective way? By virtue of the upcoming 2016 Presidential election, the candidates major issue is shaping innovative tax policies to rebuild the critically hurting middle
The American middle class is growing since the Great Depression and is steadily brining in money, but still live paycheck to paycheck. If American’s don’t pay attention to the biggest threat of the middle class, it can increase the overall depression with debt, top rate taxes, and political differentiation.
Debt
The authors (Sullivan et al., 2001), discover that financial stability for many middle-class Americans is all too fragile (para. 1). There’s just no way to progress ahead financially, support a family, and eventually retire with that sort of income. Graduating college students every year earn great paying jobs, but the education costs has rise steeply and are left with several years of student loans. From the past three decades, college prices has sky-rocketed by more than 1,200 percent (Appel, Taylor, 2015, para. 2). Majority of the middle class don’t expect to become rich or famous, but it’s ideal to expect a living wage and acceptable benefits. We need to start thinking of the consequences, and set goals for our future and our children. In addition, it is hardly manageable, but attempt to build …show more content…
For example, the effect of a home mortgage interest deduction to the rich will be unnoticeable. Otherwise, if there is a couple in the middle class, working hard for their money, an argument will arise and there will be a fight. No matter what class you categorize yourself to be, either it is the poor, middle, or rich class, none of them can dodge paying taxes, or else they can face various penalties provided by law, and be guilt of a felony. There is no such element as good tax. Unfortunately, the middle class is burden to pay top rate taxes. However, is top rate taxes the most effective way? By virtue of the upcoming 2016 Presidential election, the candidates major issue is shaping innovative tax policies to rebuild the critically hurting middle