Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums5 Enemies of a Decent Middle Class Existence in the US
http://www.alternet.org/economy/5-enemies-decent-middle-class-existence-us***SNIP
1. Medical Providers
They're taking a lot more of our money than Medicare does. According to the Council for Affordable Health Insurance , medical administrative costs as a percentage of claims are about three times higher for private insurance than for Medicare. The U.S. Institute of Medicine reports that the for-profit system wastes $750 billion a year on waste, fraud, and inefficiency. As a percent of GDP, we spend $1.2 trillion more than the OECD average .
***SNIP
2. Retirement Brokers
Various reports have concluded that administrative costs for 401(k) plans are much higher than those for Social Security -- up to twenty times more.
***SNIP
3. Banks
Government is often blamed for local budget shortfalls, but cities and towns around the country have been repeatedly victimized by a "bid-rigging" process that diverts billions of dollars -- a few thousand at a time -- from numerous unsuspecting communities to the accounts of a few big banks.
***SNIP
4. Higher Education Operators
Outside of the banking industry, there may not be a more egregious example of public abuse than the expropriation of higher education by profit-seekers who have subjected underemployed young people to years of student loan obligations. The collection of outstanding student debt is managed in good part by big banks like JP Morgan and Citigroup.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
8 replies, 2252 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (30)
ReplyReply to this post
8 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
5 Enemies of a Decent Middle Class Existence in the US (Original Post)
xchrom
Dec 2012
OP
#6 Presidents who sign let's-send-even-more-jobs-to-foreign-countries "free-trade" agreements.
AnotherMcIntosh
Dec 2012
#5
Thanks for posting this.
LWolf
(46,179 posts)3. 5. Big Box and Fast Food Companies
While McDonald's enjoyed profits of 130 percent over the past four years, and Yum! Brands (Pizza Hut, Taco Bell and KFC) made 45 percent, and while the Walton family made $20 billion in one year , the median hourly wage for food service workers and Walmart employees is about $9 an hour. Many workers are stuck at the $7.25 minimum wage, which according to the National Employment Law Project is worth 30 percent less than in 1968.
Food service and big box store employees, among the fastest-growing job segments in the nation, are making barely enough to stay out of poverty. And it's not just the employees who are subsidizing their bosses. We all are. Low-wage employees are more dependent on the food stamps and Medicaid that are paid for by our tax dollars.
Food service and big box store employees, among the fastest-growing job segments in the nation, are making barely enough to stay out of poverty. And it's not just the employees who are subsidizing their bosses. We all are. Low-wage employees are more dependent on the food stamps and Medicaid that are paid for by our tax dollars.
standingtall
(2,785 posts)4. Religous Right megachurches should be on the list. Infact they should be#1
for helping economic fascist to to convince members of the working class to vote against their own economic interest due to social wedge issues.
AnotherMcIntosh
(11,064 posts)5. #6 Presidents who sign let's-send-even-more-jobs-to-foreign-countries "free-trade" agreements.
If there is a better way to destroy what is left of the American middle-class for the benefit of the rich and super-rich, what is it?
JDPriestly
(57,936 posts)6. K&R
They forgot to mention trade agreements that result in our importing more and becoming less self-sufficient.
uponit7771
(90,339 posts)7. All excelent points, numbers 1 and 2 stand out