No one is more vulnerable to the adverse effects of a slowly-growing and downtrodden economy than working-class families. It’s become harder than ever to make ends meet as wages have largely stagnated across most industries, while at the same time productivity has risen resulting in more hours on the job, and less at home. The cost of living has also increased dramatically over the past two decades, along with the price of fuel, food, and education, making things even more difficult.
The struggle is illustrated in the annual economic survey, released last year, from the Paris-based think tank OECD, which takes a broad look at the overall economy for the United States. The survey digs into the details of several part of the U.S. economy, including energy, government spending, and quality of life. One other important aspect the survey examines is the family unit and the problems facing modern families in the 21st century.
The survey’s results were not incredibly surprising. Included among them was that the U.S. tax system is highly detrimental to economic growth, natural gas and hydraulic fracturing are showing a lot of promise, and that America lags way behind most other developed nations in public support services. The overall lack of support for working families is a huge problem, and one that ends up placing burdens on not only the families themselves, but employers and taxpayers.
Here are five ways policy makers and legislators can help ease the burden on working families.