Leone, Richard C.,

American Families at Risk. Richard C. Leone and others. - American Prospect, 2004. - SIRS Enduring Issues 2005. Article 31, Business, 1522-3191; .

Articles Contained in SIRS Enduring Issues 2005. Originally Published: American Families at Risk, May 2004; pp. 39-56.

"Since the Great Depression, there has been a strong national political consensus supporting policies that help middle-class families cope with the multiple risks in our market economy. These include the risks of illness, destitution in old age, hazards from defective products, polluted natural resources, industrial accidents, corporate frauds, high unemployment, and other assaults largely beyond the individual's control. Such policies are not, by and large, targeted redistributions to the poor but protections for the broad middle class. Many government activities reflect this concern, including social investments financed by a progressive tax code and a wide array of regulatory protections, almost all the result of necessary responses to past abuses by the market....Without these diverse government activities, ordinary middle-class families would be extremely vulnerable. With them, America both preserves the dynamism of a market system and defends innocent individuals from avoidable economic calamities." (AMERICAN PROSPECT) This article argues that the steps the George W. Bush administration has taken towards tax and social security reform hurt the middle class more than they help it.

1522-3191;


Bush


Consumer protection
Education
Employment (Economic theory)--Statistics
Family policy
Middle class
Middle class families
Retirement
Risk assessment
Social history
Social security
Tax incidence
Tax reduction

AC1.S5

050