Saturday, July 31, 2010

WIll the Middle Class Become Extinct?

The New York Daily News has an article about the future of the middle class. As a future social worker, it worries me that as more Americans cannot find work, they will fall behind on their bills, lose their valuables, and eventually become impoverished.
The middle class in America may soon have no pulse at all. Although the U.S. once had the biggest, richest middle class ever, fundamental changes in how giant corporations hire workers mean that the rich are not only getting richer, but everyone else is having to scrimp, save and compete with Third World laborers for work, according to The Business Insider as reported on

The United States once had a vibrant middle-class that rivaled other nations. Now, the gap between the rich and poor has widened to such an extent that the middle class is feeling the pinch very hard.
For the first time ever in the history of this country, banks own a greater share of the residential housing network in America than all individual Americans combined...How are former middle-class workers getting by? For the first time in the history of this country, more than 40% of Americans are getting food stamps. And 21% of all children in America are living below the poverty line this year – the highest rate in two decades.

The poverty rate in America will continue to increase unless there are changes in social and economic policies that reverses the damage and promotes social equity.

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