Why it used to be five percent. Ronald Reagan was B rated actor. And gets elected changes tax code to benefit the rich where the poor are paying the most. And the rich are paying the least. So yeah the tax system is needs to be corrected. And we've slowly lost jobs since the 1960s. Nixon started open relations with china. They didn't call him tricky dick for nothing. Watergate!
Capitalism does not care about any specific population, including the middle class in the United States. Capitalism exists simply to serve the interests of the rich, who have gone global. For example, the United States lost many factories as the capitalists moved them to countries like China in search of cheap labor and lax environmental standards.
that is essentially what backers of capitalism are saying. the govt is there to do the things society cannot do for itself. so if that includes providing things that large corporations cannot and will not provide so be it. to be more competitive with china and india means to stoop to their level of non regulatory working conditions which everybody knows is so great for society (LOLOL). these projectionist accusations that hardcore conservatives make about liberals being commies and socialists are exactly that. projections of what they really want america to be, A CHINA. the more people that enter the middle class means the large pool of low wage workers shrinks. the corporations that sub their work out to china and india depend on these large pools of low wage workers to rake in the profits they do. they sold are middle class to china and uses the govt as a scapegoat with the attempt to fool the middle class into thinking its the govts fault. when the reality is corporations want a small group of elites to rule are country just like china. so whats more important? having a thriving middle class or having a few top dawgs?
It is safe to say that capitalism has indeed abandoned the middle class and left them far behind. As capitalism works, the rich get richer and the poor get poorer. Those with money have the means and methods to accrue more and more of it, while those lacking it are forced to make ends meet.
Capitalism is all about the owner class taking advantage of the worker class for their own gain. Some people like this idea and say it fuels competition and drives economies. The problem is that at a certain point, the owner class can start ignoring the middle class and focus solely on taking advantage of the poor folk. So U.S. capitalism has abandoned the middle class, because that is the nature of the beast that is capitalism.
Capitalism is, in and of itself, a lack of government intrusion in the private sector allowing for the growth and development of business and enterprise to be generally uninterrupted by government. US capitalism works successfully, when the government does not become an integral part of the economy. The US government now hires over 100 people each day, and the amount of taxes, regulation and government bureaucracy that businesses now have to deal with has led to an outflow of business to other countries, abandoning the nation that once dominated economically and instead setting up shop in countries with less intrusion, less regulation and less taxes. So, in short, no. US Capitalism is successful so long as we do not seek to combine it with the democratic socialism that is rampant in Europe today.
Capitalism has always revolved around the top class. I believe the middle class always has the opportunity to be in good economic condition, but it all depends on the sound decisions they make. Capitalism is built for the top dogs, it's an economical survival of the fittest. So if it was never built for the middle class, how could it ever abandon it?
It seems more and more of the citizenry are looking for security not freedom. They want their retirement and healthcare provided by the government not themselves. They want insurance from unemployment, under employment and a variety of self inflicted woes. Capitalism can not thrive under endless regulations and a government which refuses to control itself or even know where its going.