America’s Shrinking Middle Class
America’s Shrinking Middle Class by Ph. D. Vahab Aghai, published by AuthorHouse in 2014, explores the significant trends affecting the middle class in the United States over the past four decades. This edition, comprising 338 pages, presents a detailed examination of the decline in the middle class’s share of income, which dropped from 62 percent in 1970 to 45 percent by 2010. The book raises critical questions about the implications of this trend for the economy and society.
Readers will find a thorough analysis of how a diminishing middle class could lead to a less prosperous and secure America, with potential consequences for government revenue and economic stability. The discussion includes the impact of policies such as Obamacare, highlighting the financial burdens that may arise from a weakened middle class. This work situates itself within the broader context of political science, providing insights into the socioeconomic challenges facing the nation.
Official synopsis Publisher
What does a middle class nation do without a middle class? An abundance of evidence suggests that we here in the United States are about to find out.
America’s Shrinking Middle Class documents trends that have been building not just since the Great Recession, but for over four decades. In 1970, the share of U.S. income that went to the middle class was 62 percent. By 2010 that figure had fallen to 45 percent. In that same year, the median income for middle class Americans had gone from $72,956 to $69,487 a decline of nearly 5 percent in just one year.
A shrinking middle class would mean a shrinking economy and an America dominated by a growing lower class. Life would be less comfortable, less prosperous, and less secure. With less money coming in to government and businesses alike, tax burdens would become onerous. One example: Obamacare. It could cost the average taxpayer nearly $6,000 in extra taxes and create a total of 20 new taxes or tax hikes. For a weakened and shrinking middle class, it could be a fatal blow.
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