“The biggest thing is the decline in wages for the low and moderate income people. Part of it is large periods of higher than average unemployment, globalization ? jobs going overseas ? the shift from manufacturing jobs to lower paying service sector jobs, immigration, the weakening of unions, and the fact that the federal minimum wage has been declining relative to inflation.”
“Once large numbers of baby boomers start retiring and begin to benefit from these tax breaks, they'll become not just more expensive, but also more difficult politically to modify.”
