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  • Essay / The Extinction of the American Middle Class - 1355

    America's largest group faces extinction. We are of course talking about the American middle class. In 1971, the American middle-class population was 36% higher than the lower-class population. However, today the middle class population is only 22% higher than the lower class (McDill). This is only a 14% decline spread over 44 years. The major problem here is that while the middle class is shrinking, the upper and lower classes are growing. Financial experts believe that soon the middle class will become non-existent and America will be divided into two extremes, poverty and wealth. This problem became so serious that the US government stepped in and created a "middle class task force" adopted as part of the government's 2009 "stimulus plan." However, most experts, including Kent McDill of millionaires' corner, Doyle McManus of the LA Times, Erik Kain of Forbes magazine believes that the government's program is putting a knife in the middle class. They believe this because the government taxes businesses until they are forced to leave America and go overseas. This, combined with the rise of mechanical workers and ignorance of the problems facing the middle class, led to the decline of the job market. Jobs in America will soon be divided into high-paying, upper-class jobs or very low-paying jobs. This makes the job market a hit or miss in America. America is predicted to soon be either very rich or very poor, with no middle ground. In 2009, the U.S. economy began to recover from the Great Recession. To aid the recovery, newly elected President Barack Obama created the American Recovery and Reinvestment Act, better known as the second of two "stimulus packages." Pa...... middle of paper... middle class in debt of nearly $200,000 at the end of their studies. Only 46% of them will escape poverty, of these 46% a fraction of them will be able to access the next level. Returning only a small minority to the middle class. Technology is evolving at a pace that society cannot keep up with either. Soon, technology and foreign labor outside America will take over all middle class jobs. As they can do it, if it's quick and cheaper than the Americans. Soon the job market will be divided into two: the upper class and the lower class. Once that happens, people will compete for a small percentage of the elite jobs that only the best and brightest can get. While the rest will fall into poverty. The American labor market is taking a huge step backwards and needs to be changed before we get to the point where we will have peasants and nobles again. This is the direction America is heading.