Analysis Of Rip The Middle Class

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The essay “RIP the Middle Class: 1946-2013” was written by Edward McClelland. Edward McClelland is an American journalist. In this essay, McClelland is trying to prove a point that at some point there wouldn’t be the middle class and there would only be the rich and the poor, unless the government intervenes to balance out the economy. I consider my family and I to be in the middle class category and from being in the middle class, and the facts that are provided, the middle class is slowly declining as the time goes on. I believe that a lot of people go beyond the middle class to the upper middle class or people go below the middle class to the poor category. I’ve found a graph from Forbes that compares the rates of all classes from 1979 to 2014. From observing the graph my initial hypothesis was right. The middle class has declined by 6.8% between the years 1979-2014. In many people's eyes that doesn’t look that bad but if we were to look at the upper-middle class then we can notice a huge jump. The upper-middle class has increased by 16.5%, which is a drastic increase between the years 1979 to 2014. The poor class has decreased by 4.5%. The middle class would decline to the point where there would only be there rich …show more content…

Hernandez states “In recent years, a significant body of research and analysis has documented the breakdown of the middle class and the impact of the current financial crisis on family income, housing, and jobs.” The middle class has a huge impact on the income, housing, and the jobs. If the middle class completly decline, it would affect the housing market because there would only be the rich and the poor. The poor would not be able to afford the housing. Their income would be low and would cause a huge gap between the rich and poor. That is why we need to sustain the middle class because without the middle class there would be economic

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