“I intend to chart a new way forward and grow America’s middle class.” A quote from a candidate that I read Wednesday, and it’s nothing new.
You’ve heard versions of this from politicians more often than you can count. What the candidate cares about most is middle class Americans. They know it is hard putting food on the table, keeping the lights on, affording a home, and knowing that your family is safe.
They care, and you, the middle class, are their top priority. You can be sure that they are fighting for you. They assure you if you elect them, their plans, even though those plans seem awfully vague, will make your life much better.
Yep, they’re fighting for the middle class. But who are the middle class? A large percentage of Americans consider themselves to be in the middle class. But in reality, that is not the case. In 2022, economists considered the American middle class family to now have a total income of between around $56,000 to $169,800 per year for a three person household. The median yearly income for the middle class family of four is around $68,000 a year.
Politicians from both parties will emphasize that a strong and healthy middle class is a sign of a strong and healthy overall American economy. That’s why they are fighting (they always say they are fighting) to help preserve and grow the middle class. Evidently they are not doing too good of a job. According to a recent report from Pew Research, only about 51% of U.S. adults lived in middle-income households in the U.S. in 2023, down from 61% in 1970. And the median middle class wage, allowing for inflation, dropped 5% during that time. If you want to be quick to lay blame, remember both political parties have been in power just about equally during that time.
But why is having a strong American middle class so important? On a purely economic basis, people having less income means having less income to spend, especially when inflation is added. Since our economy is now based on consuming things, instead of making things, the whole economy suffers. From President George Bush’s $600 stimulus checks to President Biden’s Build Back Better program and Covid checks, the U.S. government has tried to counteract the effects of a weak economy, with little effect. Well, it has made its citizens more dependent upon government and a larger national debt.
But a strong middle class is needed for more than economic reasons. Getting out of poverty is hard work and takes time. If it looks like the goal of a middle class life is no longer attainable, why make the effort, especially when the government can make your life somewhat comfortable. While they probably won’t admit it, there are many out there who have come to that conclusion.
Ultimately, a strong middle class is what holds society together. Many who earn more, and many who earn less, consider themselves middle class, even though they may not technically fall in the category. They adhere to middle class values. It helps us to feel like a unified people, with a common set of values and goals. But, if all you have is a small, rich upper class and a large, vast poverty class, with little in the middle, and little in common, you are asking for trouble. Big, societal trouble, as we feel we have less in common, leading to even more division. Maybe that’s why Harris, Trump, and all those other politicians from both parties are “fighting” to preserve the middle class. Or, maybe they are really just fighting to get votes.