How the American Upper Middle Class is Leaving Everyone Else in the Dust — and Why It Matters

The American upper middle class is thriving, while the rest of the country is falling behind. This book explains why and what it means for the future of America.

Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It

by Richard V. Reeves

4.2 out of 5

Language	:	English
File size	:	4751 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	199 pages

FREE

The upper middle class is the slice of American society that earns between $75,000 and $250,000 per year. This group has been growing in size and affluence for decades, while the middle class and lower class have been shrinking. As a result, the upper middle class now accounts for a larger share of the country's wealth and income than ever before.

There are a number of factors that have contributed to the rise of the upper middle class. One is the growing demand for highly skilled workers in the global economy. Another is the increasing cost of living, which has made it more difficult for people in the middle class and lower class to make ends meet.

The rise of the upper middle class has had a number of consequences for American society. One is that it has led to increased inequality. The upper middle class is now much wealthier than the rest of the population, and this gap is only growing wider.

Another consequence of the rise of the upper middle class is that it has led to a decline in social mobility. It is now more difficult for people in the middle class and lower class to move up the economic ladder. This is because the upper middle class has been able to use its wealth and influence to create barriers to entry for people from other socioeconomic groups.

The rise of the upper middle class is a major challenge for America. It is a challenge to our economy, our society, and our democracy. If we do not address this challenge, it will only get worse.

What can be done?

There are a number of things that can be done to address the challenge of the rising upper middle class. One is to invest in education and job training. This will help to create a more skilled workforce and give people from all socioeconomic groups a better chance of success.

Another is to raise the minimum wage and strengthen labor unions. This will help to boost the incomes of people in the middle class and lower class and give them more bargaining power.

Finally, we need to reform our tax system. The current system is regressive, meaning that it takes a larger share of income from people in the middle class and lower class than it does from people in the upper middle class. We need to create a more progressive tax system that will help to reduce inequality and create a more level playing field for all Americans.

The rise of the upper middle class is a major challenge for America, but it is one that we can overcome. By investing in education, raising the minimum wage, and reforming our tax system, we can create a more prosperous and just society for all.

The American upper middle class is thriving, while the rest of the country is falling behind. This is a major challenge for our economy, our society, and our democracy. We need to take action to address this challenge and create a more prosperous and just society for all.

Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It

by Richard V. Reeves

4.2 out of 5

Language	:	English
File size	:	4751 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	199 pages

FREE