The current landscape of our country and economy is one that was built out of the industrial revolution and FDR’s brilliant “New Deal”, but over the past few decades new policies and bills have eroded what those generations built, “The Middle Class”. I was told by a good colleague of mine, that the current policies being implemented by our current Congress, Senate, and President are newer versions of FDR’s “New Deal” policies that will have the same effects on our economy and society. The New Deal in short, were programs enacted in 1929 that gave benefits to the poor & unemployed which brought the United States out of the “Great Depression”. However, I see things differently the current policies and bills being created will begin to squeeze, shrink, and eventually degenerate the middle class. Let’s see why.

If anything, policies like 401K and Social Security should have taught us something; which is look at the long term effects of the bills being passed. Social Security; although, I was not born yet should have been a no brainer. You can’t setup a tax on a job market that has yet to be born to take care of the largest generation in U.S. history ever, the “Baby Boomers”. If we don’t fix or get rid of social security soon the middle class will have to take on the tax burden for largest generation in U.S. history, those Baby Boomers. 401K is another plan that was a nice idea, but it has failed in the funding of individuals retirements. It’s been found that most people save roughly $161,000 by the time their 65 from their jobs. This is nowhere near enough to retire and live off of. Therefore, we now have the older middle class having to get a second career after they retire and work until they are well into their late 70’s & even 80’s. This prolonged career squeezes the job market for the younger middle class creating scarcity in the market.

Lastly, the biggest current policy that I believe will add to these policies hurting the middle class is the Affordable Care Act known as (Obamacare). This policy in short squeezes and puts a heavier burden on the middle class by causing them to take on the burden of taxes for Medicaid & Medicare in which the latter almost all the middle class don’t qualify for; meaning if you’re in the middle class you pay the taxes for those that qualify for free or reduced health benefits while you still have to mandatorily pay for you and your families health care plans. This again puts a tax burden on the middle class’s pockets and shrinks their income. In addition, increasing minimum wage will not have real impact on our economy it will only set the stage for an economic adjustment for inflation. Due to these policies and more the middle class will suffer a huge burden through taxes for years to come; shrinking the middle class even more and increasing the income inequality in this country.