Griffin Johnston, 4th period, Middle Class Decreasing

In an article on CNN.com former Senator Elizabeth Warren writes on the decreasing prosperity of the middle class. She cites the time period proceeding the Great Depression as a golden age of prosperity due largely to government regulation on markets and investments towards education and infrastructure. Warren attributed the downfall of the middleclass to the tax cuts for the rich that occurred in the 80’s and 90’s in addition to the stifling of government restraint on big business. The effect of this, Warren said, was a wider gap between the upper and lower classs: the rich got richer and the poor got poorer. She also asserts that the government’s budget is badly misguided saying, “investments in roads and bridges have nearly ground to a halt…government research…has had its legs cut out from under it.” By reinstituting the progressive principles that were prevalent in the booming 50’s -70’s

Throughout U.S. history a fluctuation has occurred between Progressive policies that, essentially, regulated big businesses, and conservative ideals that generally instigated a more laissez faire policy towards businesses. It is important to keep in mind that both policies (usually associated with Democrats and Republicans respectively) possess attributes that are necessary in maintaining the prosperity of the nation, as well as flaws that hinder the economy. Critics of Progressive policies that regulate business claim that too much regulation deters people from taking the risks of large investments to start a business, buy more goods, hand out loans, etc. Critics of the laissez-faire policy state that big corporations, when left alone, will resort to dishonorable methods that give them more profit; multiple big corporations committing these misdemeanors end up possessing a disproportionate amount of the nation’s wealth (to the detriment of the poor and the middle class). Seeing that both systems have shortcomings, and, yet, also have essential attributes that provide prosperity, the solution would be to strike a balance between the two methods. The best presidents were able to disregard party platforms and do what is best for the nation; in this case, history shows us that what is best for the nation is not one or the other, but a combination of the two.

http://www.cnn.com/2014/05/01/opinion/warren-middle-class/index.html