There’s a growing body of evidence that the economy grows from the middle out. I had the privilege of contributing to a new issue of Democracy, which lays these ideas out. From the editorial:
At first blush, the claim that politicians need to take the needs of the middle class more seriously might seem like pushing on an open door. After all, every stump speech has lines about “saving the middle class” or “helping Main Street, not Wall Street.” But the actions of elected officials have seldom matched the rhetoric. Vice President Biden is fond of saying, “Show me your budget, and I’ll tell you what you value.” By those terms, not to mention the tax code, we have for decades valued corporations and the wealthy as the engines of growth, as job creators, and as most worthy of assistance. The results are familiar: moribund income growth for low- and middle-income Americans and soaring income inequality.
There’s a number of excellent pieces — including by CAP’s fearless leader, Neera Tanden– and I encourage you to check it out!