Bruce Hass

Read Newsmax: The Middle Class Might Nearly Disappear in the Next Decade
"At the Strategic Investment Conference 2018, Karen Harris from Bain & Company gave a thought-provoking keynote titled, “Labor 2030: The Collision of Demographics, Automation, and Ine******y.”
She sees a big economic shift that began in the 1980s. Driven by demographics and automation, the world is gradually moving from a supply-constrained to a demand-constrained economy.
Harris said the combination of a demographically shrinking workforce and increasingly cost-effective automation will aggravate ine******y, curb demand, and put a cap on economic growth.
This will have massive social and financial implications in the next decade.
Low-Wage Workers Will Be Hit Most
The impact of automation will be unequal.
High-wage workers will reap most of the gains and low-wage workers will bear most of the cost—at least in the short run. This is socially unstable. But in the end, it's not even helpful to the businesses that automate.
Someone has to buy the goods robots produce. As the middle and lower classes suffer, spending will decline. The result will be “demand-constrained growth.” This isn’t necessarily a contraction, but it will likely limit GDP growth."
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How does this fit into Devos' view of minimizing public education? A tax program that overwhelmingly favors the wealthy to the near exclusion of an already shrinking middle class? Supporting China to provide jobs for ZTE workers?

Let's see--how do we blame this on Obama?

old marine Loc: America home of the brave

Since you stated it started in the 1980's and is about to take place in 2018, that would fall in line with Obummer plan to destroy America by destroying jobs for American citizens.

God bless and preserve America bless President Trump

karpenter Loc: Headin' Fer Da Hills !!

One Of The Major Fast-Food Chains Announced It's Plans To Automate
Bye-Bye $15hr Entry Level Pay

Liberty Tree

No surprise here!

lpnmajor Loc: Arkansas

The middle class has been slowly smothered to death over a period of years. Democrats running for office promise to ease the plight of the middle class, t***sferring their tax burden to the rich - then raise taxes on - the middle class. Republicans running for office promise the same relief - then raise taxes on the middle class. This latest assault is the most brazen yet, openly easing the tax burden of the wealthy, promising to do the same for the middle class - and yet - the tax break for the little guys expires, whereas the wealthy folks tax break is permanent.

While politicians keep everyone's eyes on income taxes, they're steadily increasing taxes on everything else, taxes that hit the poor and middle class the hardest. Both parties agree that small businesses are the life blood of America, yet their attempts to manage the economy always centers on the mega corporations, that's true for State and Federal lawmakers.

Here's an example form my State: Our legislature is discussing raising the tax on groceries ( lowered by a previous GOP Governor ), to pay for an income tax decrease. They call these shenanigans "revenue neutral", which amounts to moving numbers to different columns on the ledger. Here's the t***h to this s**m; It is NEVER revenue neutral, it always results in an increase in taxes collected. Lowering the tax rate for the middle class will save them around $320 ( based on an annual income of $32,000 ), raising the grocery tax will cost them $425 per year ( average grocery bill for a family of 4 ).

Lonewolf

I thought that was Bush who was losing 400,000 jobs a month

Lonewolf

might just be time to remove the top 3% and start over 84% tax break for the bottom next time