Decline of the middle class
I hear a lot of comments on the decline of the middle class in America today. I also hear that unions are declining in membership and power. I did a little research, not a lot, but it appears that the decline of labor unions is a leading indicator for the health of the middle class. If you study the conditions of the labor unions after the passage of the Taft- Hartley Act in 1947, in a few years and labor unions started to decline. The middle class started to decline as the labor unions gradually lost membership and power the middle class followed. The more the pendulum swung to favor the rich and the corporations, the more the unions declined, the more the middle class declined. The more the middle class declined the more the tax code changed so that less money was spent on education and infrastructure. The as this happened the more private debt that the middle and lower class accumulated and the less private wealth there was in the middle class. The states with the strongest unions and the best working conditions have the best economies and turn out to be the most business friendly. I have noticed that since Wisconsin has changed leadership and is attacking labor, its economy is lagging Minnesota’s. Apparently the real jobs are moving to Minnesota.