Falling Behind: How Rising Inequality Harms the Middle Class

**Luv2BeFrugal** · 12-10-2007, 12:25 AM

Someone recommended this book to me...I can't for the life of me remember who!!

Well, I checked it out at the library last week...I'm almost done with it. Though it's a bit dry...the economic statistics and explanations are VERY interesting. It has ratios between incomes in the 70's and the late 90's verses the cost of housing... It talks about middle class indebtedness and lack of savings, etc...and how people are using these traps to "survive" in a world where the buying power of the American dollar just isn't what it was...

Anyway, like I said...a bit dry in places...but worth the info.

Falling Behind: How Rising Inequality Harms the Middle Class
By: Robert H. Frank

**Nantahala** · 12-10-2007, 11:09 AM

Thanks for the review! This looks really interesting, I am gonna see if the library or PBS has it.

toile · 12-10-2007, 12:57 PM

Growing up poor, then working hard to reach middle class....
Then to learn the "middle class squeeze" has frustrated me.

I constantly have found myself paying double for things because Im in the middle class. My sons special needs are not covered my insurance, so I have to pay the docs and the insurance?
At the specialist office I sit with people who are there for free.

Im not mad at the lower income people, Im not mad at the rich.
But the squeezing gets old.

Did you know the IRS is in a pickle right now and our refund season may be delayed?
Its over a very old law that effected the rich & middle class.
The law never figured in inflation and now the middle class may have to pay 2-3K more a year! Because by these old #'s the middle class look rich?
From what I can follow they voted against it but not without some major disagreements...Still haven't heard if this allowed the IRS to run on schedule or not.

**mikandmari** · 12-10-2007, 02:50 PM

I love books on economic conditions! Thank you for posting this. Even cooler... one of the libraries in my town has it, so I placed a hold on it

**nodmicks** · 12-10-2007, 06:17 PM

Originally Posted by toile

Growing up poor, then working hard to reach middle class....
Then to learn the "middle class squeeze" has frustrated me.

I constantly have found myself paying double for things because Im in the middle class. My sons special needs are not covered my insurance, so I have to pay the docs and the insurance?
At the specialist office I sit with people who are there for free.

Im not mad at the lower income people, Im not mad at the rich.
But the squeezing gets old.

Did you know the IRS is in a pickle right now and our refund season may be delayed?
Its over a very old law that effected the rich & middle class.
The law never figured in inflation and now the middle class may have to pay 2-3K more a year! Because by these old #'s the middle class look rich?
From what I can follow they voted against it but not without some major disagreements...Still haven't heard if this allowed the IRS to run on schedule or not.

Where did you hear about the tx problem? I'd like to learn more.

**sdrjeolsen** · 12-10-2007, 09:14 PM

I believe she is refering to the Alternative Minimum Tax. I think it has been brough to their attention that Rich back when is average now and the alternative minimum tax has never been restructured, something they are thinking about doing. BUt last I hear they ar eplanning to leave things the way they are for now....just means more middle class will pay more tax.

toile · 12-10-2007, 10:04 PM

Oh no, we will be charged more

To be honest the wording in the news yesterday was so confusing, I coudln't tell if it changed or not.

I don't want to pay 2-3 K more per year. I need to look more into this and see if this is a sliding scale thing.

I'm one of those fair tax girls. I beleive frugal , middle classers will really be able to save with that program.
We know how to not spend at all or to buy used, which will have no tax etc..

**nodmicks** · 12-11-2007, 07:48 AM

Originally Posted by toile

Oh no, we will be charged more

To be honest the wording in the news yesterday was so confusing, I coudln't tell if it changed or not.

I don't want to pay 2-3 K more per year. I need to look more into this and see if this is a sliding scale thing.

I'm one of those fair tax girls. I beleive frugal , middle classers will really be able to save with that program.
We know how to not spend at all or to buy used, which will have no tax etc..

I searched and found an article in the chicago tribune. It didn't really give exact numbers. I'm for fair tax too if you mean the same tax % for every single person regardless if income. It is fair after all.