New York's shrinking middle class
The Drum Major Institute released a report this week finding that it is harder than ever for New York families to break into the middle class in the first instance and to stay there once they've arrived.
The report specifies that high rents and high standard of living benchmarks (paralleling much of what Professor Warren discusses in The Two-Income Trap) are serious barriers to achieving middle class status. DMI proposes several policy solutions, including a more progressive tax structure, universal pre-kindergarten, and broader access to health insurance.
The Times has an interesting political take on yesterday's DMI forum to discuss the report's findings.
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Thanks for the shoutout. We have video of the event up here
http://www.youtube.com/watch?v=6DE1dr5p0sU&eurl=
There was some more good blog coverage and press coverage today.
April 3, 2007 8:26 AM | Reply | Permalink
click here for the youtube video of Cuomo at the DMI event
April 3, 2007 8:27 AM | Reply | Permalink
Here is something to think about on this topic. Consider what is in the book "Two Incomes Still Broke", which takes a closer look at home economics and how little a second income actually contributes to a household. People think they are doing better with both spouses working, but in some cases, they are actually worse off. Income taxes is the biggest culprit, but the costs of getting and holding a job actually costs more than we realize.
Jim Anderson
The Truth About Credit
Facebook ProfileApril 3, 2007 2:35 PM | Reply | Permalink