For hundreds of millions of people in the U.S. and Europe, the past decade has been absolutely without any advance in incomes. This could be the start of an entire generation that never sees its living standards progress.
Yesterday, America got a look at the new overtime rule, which will make millions of people who make less than $47,500 a year eligible for overtime pay. You may be wondering: who, exactly, is responsible for making sure I get paid for all my newfound overtime?
Today marks the official beginning of what may go down as the most underappreciated action of Obama’s presidency: the new overtime rule, which will force more money into the pocket of the middle class.
Canada’s relatively radical fight against economic inequality is hobbled by “the government’s insistence that the chief beneficiary of that fight will be the middle class — as opposed to the poor... living up to it appears to have produced policy designs that wouldn’t otherwise make much sense.”
The Middle Class, a popular figure in American folklore, died this week after a long battle with capitalism. Its passing has been expected since the recent death of its partner, The American Dream.
Last night, Barack Obama announced a big increase in the overtime threshold. For millions of Americans, this could mean a significant earnings increase, and/ or better working conditions. A rare sign of progress in the class war.
As memories of the harsh recession years are washed away by a wave of stories about the soaring stock market and hot tech IPOs, it is worth noting that the death of America's mythical "middle class" continues apace.
Take a deep breath. Relax. Center yourself. Think about your bank account. Now. Are you ready for an article explaining why $196,000 per year is not that much money? Good.
Historians tell us that the United States of America once boasted a fabled "middle" class of residents. They were not too poor; they were not too rich; they were just right. Crazy—but allegedly true.
The Way We Live Now: Good, in bad places. Haiti: ballin. Broke students: ballin. Jerks: ballin. And guess who is not ballin? That's right, "the middle class." And glassmakers.
