According to Wilkie et al. (23), there is quite a huge population that could work to have better financial assistance for jobless middle-class people, enlarge unemployment insurance, and universal health insurance. Further than that, I think that middle-class people who have been wrenched around by the corporate world might desire to start talking about corporate authority. Who’s constructing these decisions? The author also asks whether the practice of continuously sacking middle-class people really any way to run a business.
I totally agree with the author’s insight on the topic but on a more hyped plane. Well, the globalism and “free trade” that our politicians and business leaders persisted would be so good for us have had some rather vicious side effects. It emerges that they didn’t tell us that the “global economy” would mean that middle class American workers would in the end have to directly contend for jobs with people on the other part of the world where there is no minimum wage and very few rules (Wilkie et al., 32)
Here are the statistics to prove it:
• 61 percent of Americans survive on paycheck to paycheck, which rose from 49 percent in 2008 and 43 percent in 2007.
• 36 percent of Americans conclude that they don’t contribute a dime to retirement savings.
• An astounding 43 percent of Americans have fewer than $10,000 saved up for retirement.
• 24 percent of American employees say that they have delayed their planned retirement age in the precedent year.
• Over 1.4 million Americans declared their personal bankruptcy in 2009, which stand fore a 32 percent raise over 2008.
• For the first time in U.S. history, banks possess a larger share of residential housing net value in the United States than all individual Americans combined (Ehrenreich, 44).
• As of 2007, the underneath 80 percent of American households apprehended about 7% of the liquid financial properties.
• The base 50 percent of income earners in the United States now jointly own less than 1 percent of the nation’s riches.
• In the United States, the average federal employee now gets 60% MORE than the regular employees in the private sector.
• The peak 1 percent of U.S. households have possession of nearly twice as much of America’s corporate affluence as they did just 15 years ago.
• In America at the moment, the typical time required to get a job has risen to a record 35.2 weeks.
• More than 40 million Americans are on food rations, and the U.S. Department of Agriculture estimates that the number will go up to 43 million Americans in 2011.