Jan 25

Obama’s middle-class care
Obama proposed to “re-establish some of the security that’s slipped away” for the middle class this morning.
His proposal tries to ease the domestic resentment by helping paying off college-loan and child-care, saving for retirement and making sure that elderly parents would be took good care of. The specific plan, based on Erica Sagrans's Blog, is listed below.
• Nearly doubling the child and dependent care tax credit for middle class families making under $85,000 a year
• Easing the burden of student debt by limiting students’ federal loan payments to 10 percent of his or her income.
• Helping workers save for retirement by creating a system of automatic workplace IRAs, requiring all employers to give the option for employees to enroll in a direct-deposit IRA.
• Expanding tax credits to match retirement savings and enacting new safeguards to protect retirement savings, making it easier for families to plan for retirement.
• Expanding support for families balancing work with caring for elderly relatives, helping them manage their multiple responsibilities and allowing seniors to live in the community for as long as possible.
However, there’s currently no answer about where the money would come from and how much it would cost in total until the release of budget.
Securing middle class cannot create jobs, but it would make the employed one more efficient. Middle class is regarded as the most creative part of society, and their no fear of troubles in the rear would boom the creativity of society and the productivity accordingly. That would benefit our economy and standard of living in the long run and make a solid foundation of our recovery.