Saturday, April 19, 2014

Chicago's Vanishing Middle Class


Chicago's Vanishing Middle Class by Aaron M. Renn, City Journal 16 April 2014
(Excerpt)
In cities around the world, two-tier societies are becoming increasingly common. While much ink has been spilled over widening income inequality in cities such as New York, where Bill de Blasio rode his “tale of two cities” theme all the way to City Hall, most attempts to solve the problem have focused on the poor, not the middle class. Liberal mayors across the country are proposing an array of policies intended to address income inequality, including minimum-wage hikes—Seattle’s mayor wants to raise it to $15 per hour—affordable-housing mandates, and tax increases on the wealthy. At the same time, they’ve made massive investments in upscale neighborhoods and business districts. But no one is championing the middle class, even rhetorically.