The American Dream Goes On

Is the American middle class an endangered species?


Senator Obama's plan to take more from people earning $250,000 and above a year, to raise capital gains taxes, and devote some of this money to education may therefore have far more political traction than Senator McCain's intent to maintain the tax cuts of President Bush and, if anything, to expand them. Given that the Bush tax cuts have disproportionately benefited upper-income people, McCain's recommendation may work with the Republican base but most likely will narrow his attraction to the decisive swing voters of the American center—that is, a good part of the middle class.