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THE DISAPPEARING MIDDLE CLASS

Posted by Tim Bryce on September 8, 2014

BRYCE ON THE ECONOMY

– And how energy independence can alleviate the problem.

(Click for AUDIO VERSION)

To use this segment in a Radio broadcast or Podcast, send TIM a request.

I recently read a couple of articles regarding the shrinking American middle class. It seems the rich get richer and the poor are doing much better thanks to escalated welfare spending, but the middle class is struggling.

The middle class is an important part of our country both economically and politically. They represent the engine which fuels the economy. They purchase the consumer products, the homes, food, automobiles, and pay the lion’s share of the taxes. The upper class also pays taxes, but not to the degree of the middle class. The poor, of course, contribute nothing.

According to “Forbes,” 60% of middle class American households have experienced a decrease in income. As the Middle Class diminishes, the poor will inevitably feel the squeeze. Politically, it is not the rich or the poor who run the country, it is the Middle Class. The rich are active politically, but it is the Middle Class, representing the land owners and consumers who ultimately dictate the course of the country politically. The poor doesn’t really figure in the formula as they are the most apathetic of voters.

As Aristotle noted centuries ago, “The most perfect political community must be amongst those who are in the middle rank, and those states are best instituted wherein these are a larger and more respectable part, if possible, than both the other; or, if that cannot be, at least than either of them separate.”

As the upper and lower classes expand beyond the size of the middle, anarchy will likely ensue. This has been demonstrated in numerous countries around the world. It also means the Middle Class must be allowed to flourish. To do so, we need an increase in full-time jobs, not part-time. Currently, the Obama administration is pushing for an increase in the minimum wage. Can we not achieve the same goal by lowering costs as opposed to raising the minimum wage? According to the government, inflation is at a paltry 2%. Hardly worth worrying about, right? Interestingly, the price of gasoline is not included in their equation. This is strange as delivery costs affect everything. In reality, we have a much higher inflation rate than the government is willing to admit. I would therefore argue:

DON’T RAISE THE MINIMUM WAGE, LOWER THE PRICE OF OIL!

Our priorities are wrong, instead of raising capital, let’s cut spending instead. Unfortunately, this is not a popular concept with the current administration. However, if we dedicated ourselves to energy independence, we would lower the cost of living, thereby putting more money in everyone’s pocket. In addition, we wouldn’t threaten the closure of businesses, but encourage expansion, and lastly, we would be creating legitimate full-time jobs, not just flipping burgers.

Let’s not kid ourselves, spiraling inflation is the real culprit here, based on the rising cost of energy. It’s the ugly little secret the government doesn’t want you to know. However, if we pronounced a national objective of energy independence, we would be stoking the engine of the middle class, not to mention freeing ourselves from entanglements in the Middle East. We obviously have ample resources and technology to achieve the goal, but we seem to lack the will to do so, e.g., the Keystone XL pipeline, the New England pipeline, and the massive gas field in Pennsylvania.

This is all very real and all very plausible, but we either lack the vision to tackle this goal or there is a premeditated attempt to dismantel the country. Let’s be clear about one thing, if the middle class continues to decline, it puts us on a clear path to destruction. Don’t let anybody tell you otherwise.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 30 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim’s columns, see:
timbryce.com

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Copyright © 2014 by Tim Bryce. All rights reserved.

NEXT UP:  THE HARSH REALITY OF THE WAR ON TERROR – It’s not going away any time soon.

LAST TIME:  RETIREMENTLAND  – Do we ever truly retire?

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2 Responses to “THE DISAPPEARING MIDDLE CLASS”

  1. As I have stated time and again since Obama took office, his stated desire to elevate the Middle-Class wage-earner is diametrically opposed to his actions. The Middle-Class flourishes when the free-market is allowed to function–something which will never be the case under Obama. Obama, with his Marxist/Socialist beliefs sees and wants the government to be the “center of the universe”–the creator of economic growth; the creator of jobs. As you know, that is is a flawed lined of the thinking from the outset. At the same time, Obama and his cohearts fully understand that America cannot and will not be transformed toward a socialist orientation until the financial back and the inherent patriotic spirit is the Middle-Class is broken. The process is taking placel right before our eyes in the present. The question becomes, “how long can the Middle-Class endure in outlasting the actions of this President and others who could potentially follow him with similar desires?” When we hear the statement, “We mist take our country back”, this is exactly the point. The Middle-Class has become a bit too apathetic and much to blind to reality since Obama took office. At the same time, I find it quite alarming that so many in the Middle-Class, who are educated and in position to be informed, are so naive when socialist actions are carried out right in front of them by a rogue presidential administration. Far too many Americans believe that we are so blessed that evil cannot visit upon America but it is here with us right now and God help us to survive its intent. ~ WB

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  2. […] THE DISAPPEARING MIDDLE CLASS […]

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