The top five economic issues facing the middle class ahead of the 2020 elections:
kicks up into high gear, here are what experts point to as some of the top economic issues that middle class families in America currently face. And with the financial unease that many people say they are feeling, these issues might have an impact on how they decide to vote.5 economic issues facing the middle class ahead of the 2020 electionsFor most middle-class families without high-return investment accounts or trust funds to rely on, their main source of income are their jobs.
The labor union UNITE HERE holds a rally for American Airlines food caterers to demand health care for the workers at Terminal 8 at JFK Airport in New York, Nov. 26, 2019.The slow growth in wages is the single biggest economic issue hampering middle-class families, according to Elise Gould, a senior economist at the left-leaning think tank the Economic Policy Institute.
A lack of savings and living paycheck-to-paycheck is also an issue as Americans are currently living longer than ever, and may face outliving their retirement funds or"face additional shortfalls if their investment returns fall short," Earle said.Healthcare is routinely at the top of the list of voters' concerns and for good reason.
Campaign signs for 2020 Democratic presidential candidates stand in snow outside a home in Des Moines, Iowa, Jan. 30, 2020. Thomas Philippon, a professor of finance at New York University's Stern School of Business, said the illusion of free markets and the hidden costs that the middle class picks up as a result cost the median American family approximately $5,000 a year.
"Also, if the markets were more competitive, the whole economy would be more dynamic," he argued."There would be more hiring, which would also bring up the wage."found that over the past few decades “there have been troubling indications that dynamism and competition in the U.S. economy have declined.” It found that in the airline sector, the top four first served 43% of the market in 1985, but that share had risen to 72% by 2017 due to decades of industry consolidation.
An attendee holds up a sign that reads "Jobs! Jobs! Jobs!" during a campaign rally for President Donald Trump in Des Moines, Iowa, Jan. 30, 2020."Work-life balance is not really so much an issue for the people at the top, although they complain about it a lot," Reeves said, noting that they can afford the childcare and other expenses.
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