Daily Take: Betrayal of the American Dream: How Democrats Lost FDR’s Middle Class
The Hartmann Report
Thom Hartmann
4.5 • 1.3K Ratings
🗓️ 13 November 2024
⏱️ 11 minutes
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Summary
From FDR to Reagan to Trump: How the left lost its greatest power, and how to win it back…
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| 1:02.5 | Betrayal of the American dream, how Democrats lost FDR's middle class. |
| 1:07.6 | The great lesson of the election of 2024 is that, to a large extent, class has |
| 1:12.3 | replaced race as the single most potent political dividing line. In 1933, Franklin D. Roosevelt |
| 1:19.2 | took office and began a great experiment. Was it, he asked, really possible to create a society |
| 1:25.2 | where more than half of a democratic and capitalist nation could |
| 1:28.8 | enjoy a middle class lifestyle. On the day of his inauguration, the best estimate is that only |
| 1:33.9 | about 15% of Americans had reached that economic milestone. Back at the founding of our republic, |
| 1:40.1 | several philosophers and economists suggested it was possible for a majority middle-class society to |
| 1:45.2 | emerge on this continent. Adam Smith of the 1776 wealth of nation's fame wrote a book, |
| 1:53.2 | The Theory of Moral Sentiments, arguing that if a nation were to intervene in the marketplace in moral |
| 1:58.6 | ways that uplifted working-class people, such a society |
| 2:01.4 | could emerge. Thomas Payne similarly argued in agrarian justice for a number of progressive |
| 2:06.9 | reforms, including what today we would call social security, a guaranteed minimum income, |
| 2:11.8 | free public education, and the inheritance tax. But from the beginning of America until 1933, most of these dreams were unrealized. |
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