QUIN WILLIAMS: Middle class is being left behind

[roomfullofmirrors]

SAN ANGELO, Texas — Since 1980 the American economy has doubled in size. However, adjusted for inflation, wages have been flat. The average worker has not reaped the benefits of increased production.

Conversely, the top 1 percent used to take home about 10 percent of total income, but currently they take home more than 20 percent, and they control 40 percent of this nation's wealth.

These super-rich individuals also have immense political clout, and they often use it to lower their taxes. Before 1980, the top tax rate was higher than 70 percent. It is now half that, 35 percent, and much of that income is capital gains, which is subject to only a 15 percent tax rate.

In fact, according to the IRS, the richest 400 Americans pay only 17 percent.

Not surprisingly, this has resulted in huge budget deficits. Revenues are down to less than 15 percent of the total economy, the lowest in 60 years.

This means cuts in spending on essential public services such as schools, roads and other infrastructure.

People are afraid and looking to cast blame for what is happening to our economy. The middle class is divided, with union vs. non-union, and the political climate more polarized by the day. Adding to the crisis, the middle class is unable to borrow as it did before, so it lacks the purchasing power needed to boost the economy.

All this together has resulted in an anemic recovery and continued high unemployment.

Have we forgotten that a robust economy is dependent on a strong middle class? Henry Ford knew this. When he started mass-producing the Model T, he paid his workers well, and priced his cars so they could afford to buy them.

That's not socialism or communism. It's not redistribution of wealth. It's just good business.

The American dream isn't built on the ability of a privileged few to accrue vast fortunes, but on the ability of the majority to have the security and purchasing power that comes with earning a decent living.Our government wasn't meant to be sold to the highest bidder. The sooner we remember that, the sooner our economy will regain its strength.

[FiveGoodMen]

1. Not so much left behind as deliberately and systematically destroyed

So that everyone will essentially be slaves.

"Ownership Society" actually meant that most of us would be owned.

[roomfullofmirrors]

2. I think Orin Hatch needs to have a talk with Quinn Williams about our tax policies.

since Orin thinks middle class folks should pay more than millionaires to get the country out of debt.

[Faryn Balyncd]

3. K and R