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Millions to the Middle View the document 2 (pdf) SUMMARY This report takes a long-term view to expanding the middle class and creating more security among those who do achieve a middle-class life. Looking ahead to where the United States should aspire to be a decade from now, we advance policy proposals that would be phased in over time and are bold enough to fully meet the challenges at hand. Our agenda focuses on three strategies that have historically been pivotal to the expansion of the middle class.First, with our "Contract for College", we advocate major new investments in higher education to ensure that anyone who wishes to improve their future economic prospects has the ability to do so. Second, we propose new initiatives aimed at expanding home ownership far beyond its historic high of recent years, so that all working Americans have the opportunity to build wealth through a home. And third, we outline a major effort to ensure that all working Americans have adequate income to meet their basic living expenses. In each area, we envision an important role for private or nonprofit organizations. The public sector should not be expected to act alone to grow the middle class, and taxpayer dollars should be leveraged as creatively as possible. What each of these strategies has in common is that they empower individuals to advance themselves through self-improvement and hard work. The three strategies work in combination with one another to help people to move up the ladder of economic opportunity and, in turn, pass on opportunity to their children. Education is critical to increased earnings which, in turn, are essential for accumulating assets. Assets are vital to family security and retirement -- and also a key to upward intergenerational mobility. |
