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Attaining the American Dream is Increasingly Problematic

Commentary: Immigrants (primarily Europeans) have been coming to this country for over 300 years seeking a better life. We set the standard for most countries in the world—until recently. For the last 40 years we have been going in the wrong direction in terms of access to a quality education and  health care, personal safety and tax equity. Other rich countries are doing better in these areas. American work force has some of the weakest mathematical and problem solving skills in the developed world according to the Organization for Economic Cooperation & Development (OECD) –an organization of developed countries set up after WW II. It now has 35 member counties--including the U.S. who was one of the founding members.

In the U.S. we rely primarily on property taxes for funding K-12 schools—leaving wealthy districts with much more money per student than poor ones—state support does not close the gap. In Canada and western Europe they ensure that all students get similar support—giving all students a chance to get a quality education.  Another area where these countries excel is better pay for teachers and recognition that it is still an honorable profession.  Cost for attending college in Canada is about ½ that in the U.S. for tuition & fees. In Germany there are no tuition and fees and in France it is between $250 & $1,500 annually.  Consequently, total student debt in the U.S. is about $1.3 trillion—which creates severe limitations in forming households after they leave college.

Every other rich country in the world has single payer health care, with cost controls for drugs, hospitals and equipment and access for everyone. The U.S. health care system is 2 to 3 times more expensive with poorer outcomes. Life expectancy in other rich countries is around 83—but only 78 in the U.S. Homicide rates in the U.S. from guns is about seven times higher per 100,000 population than all other OECD countries. The U.S. now has a regressive tax system where payroll taxes take in almost as much revenue as federal income taxes and where investment income is taxed at half the rate of wage income.

For all these reasons, attaining the “American Dream“  is increasingly more problematic than in the past. Other rich countries are doing better. Future of our country is with our youth—and were not providing the resources for them to attain their potential—particularly for the bottom 80%. Especially important in today’s complex economy.