• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD

Biden’s Proposals Aim to Give Sturdier Support to the Middle Class

by

Skeptics have warned of government overreach and the risk that deficit spending could ignite inflation, but Mr. Biden and his team of economic advisers have, nonetheless, embraced the approach.

“It’s time to grow the economy from the bottom and middle out,” Mr. Biden said in his speech to a joint session of Congress last week, a reference to the idea that prosperity doesn’t trickle down from the wealthy, but flows out of a well-educated and well-paid middle class.

He underscored the point by singling out workers as the dynamo powering the middle class.

“Wall Street didn’t build this country,” he said. “The middle class built the country. And unions built the middle class.”

Of course, the economy that lifted millions of postwar families into the middle class differed sharply from the current one. Manufacturing, construction and mining jobs, previously viewed as the backbone of the labor force, dwindled — as did the labor unions that aggressively fought for better wages and benefits. Now, only one out of every 10 workers is a union member, while roughly 80 percent of jobs in the United States are in the service sector.

And it is these types of jobs, in health care, education, child care, disabled and senior care, that are expected to continue expanding at the quickest pace.

Most of them, though, fall short of paying middle-income wages. That does not necessarily reflect their value in an open market. Salaries for teachers, hospital workers, lab technicians, child care providers and nursing home attendants are determined largely by the government, which collects tax dollars to pay their salaries and sets reimbursements rates for Medicare and other programs.

They are also jobs that are filled by significant numbers of women, African-Americans, Latinos and Asians.

View Source

Filed Under: BUSINESS Tagged With: American Families Plan (2021), American Jobs Plan (2021), Biden, Joseph R Jr, Child Care, Discrimination, Economics (Theory and Philosophy), Economy, Education, Government, Health, Health Care, Inflation, Jobs, Labor and Jobs, Medicare, Paid Time Off, Social Conditions and Trends, United States, United States Economy, United States Politics and Government, Wages, Wages and Salaries, Women

Primary Sidebar

More to See

$7.45M Hog Island Is the Largest Private Island Available in Florida Right Now

It’s the ultimate in seclusion in the middle of North Central Florida: a private island in the middle of St. Johns River near Lake George.In addition … [Read More...] about $7.45M Hog Island Is the Largest Private Island Available in Florida Right Now

Seattle Seahawks Haven’t Ruled Out Acquiring Baker Mayfield Just Yet

The Seattle Seahawks are very much still in the running for Baker Mayfield. (Photo by Stacy ... [+] Revere/Getty Images) Getty Images The Seattle … [Read More...] about Seattle Seahawks Haven’t Ruled Out Acquiring Baker Mayfield Just Yet

How Trump’s 2020 Election Lies Have Gripped State Legislatures

LANSING, Mich. — At least 357 sitting Republican legislators in closely contested battleground states have used the power of their office to discredit … [Read More...] about How Trump’s 2020 Election Lies Have Gripped State Legislatures

Copyright © 2022 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy