A Hidden Republican Punishment of the Middle Class
Here is another way that the middle class is being forced to bear the costs of the economic disaster foisted on us by the greed of the rich. I have been surprised to never hear this spelled out directly, so finally I'm going to try to do it myself. We constantly hear about people's responsibility to prepare for their own retirement. In fact, a large part of Republican cant involve the constant claim that we should bear far more of that burden. Let's consider what is happening to people who spent their lives following this advice: Imagine a working class couple who, responsibly, saved carefully for their retirement, and over their working lives managed to save $500,000. Before the Bush economic disaster, that money might have earned, say, 5% interest, or $25,000 a year. That would be enough to more than double the money they get from Social Security, and if they don't have a mortgage, it would be a substantial contribution to their living an independent and ...