2 thoughts on “The Shrinking And Withering Middle Class”

  1. Our educational system has always been socialist. It started out that way because parents in small colonial villages weren’t wealthy enough to afford private tutors for their children and yet understood the need for their children to learn the three ‘Rs’. So they pooled their resources and hired a teacher for the town.

    And let’s face it, not all parents are good at being teachers. If they were and could spend a significant fraction of their day teaching, things might have been different. My hat is off to those who are able to successfully home school. Most parents (myself included) are not up to the task.

    Anyway that’s how it started. But today I’m a big proponent of vouchers and school choice.

  2. That was very thorough.

    JP said that the excess savings must be wrung out of the economy. Meaning, the middle class has too much money in savings and retirement accounts in addition to what they spend on rent/mortgage, utilities, groceries, health, and entertainment. This is framed as the middle class engaging in frivolous spending and too few dollars chasing too few goods, as if there is a shortage of TVs.

    The proposed solution is to increase the cost of living for the middle class until they have to tap into savings and retirement. This will tame inflation and if it doesn’t, there will always be the printing press.

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