In recent years, the Brooking Institution published a series of papers as part of its Future of the Middle Class Initiative. In a 2020 paper, Brookings defined the Middle Class as the middle 60 percent of the household income distribution–“not poor, but not prosperous either.” How much income must a family have to be considered middle …
As 2020 comes to a close, you may think 2021 will be a better year. And if you are among the top 1 percent Americans in terms of wealth and income, things look pretty rosy. But if you are a middle-class person, next year will be worse for you than in 2020. First of all, …
When I was a kid, my family would mark the holiday season by driving to Oklahoma City to do our Christmas shopping. We always made three stops. We would drop by the Sears store, which was a treat for me because it had escalators, and popcorn was always popping on the first floor. Popcorn and …
For the past few years I’ve been suggesting bankruptcy more and more as a solution to people in trouble. I’ve written about my position, “I Suggest Bankruptcy Too Often, So Say Some“, and I receive my fair share of criticism about the amount of times I suggest bankruptcy. An article out today, full of data, …