Why the 20%, and not the 1% are the real problem

(K. Brent Tomer),

Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do about It. By Richard Reeves. Brookings Institution Press; 196 pages; $24.

WHICH of America’s social fault lines is most dangerous? Race remains as wide a rift as ever. Supporters of Bernie Sanders seethe at the richest 1%. Donald Trump won office exploiting the cultural chasm between an urban, cosmopolitan America and the rest. But if America’s woes are rooted in the inaccessibility of the American dream, the increasingly impenetrable barrier around those who manage to achieve it is the place to probe.

That is where Richard Reeves, a scholar at the Brookings Institution, a think-tank, aims his fire in “Dream Hoarders”: at America’s richest fifth, its upper middle class. Having grabbed their piece of prosperity, the upper middle class are fighting like hell to keep it. They—which is to say you, in all…Continue reading

via K. Brent Tomer CFTC Why the 20%, and not the 1% are the real problem

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