Even during this current period of low unemployment and decent economic growth, a huge portion of the population is being left behind. Nearly half of all wage earners today bring in less than $30,000 a year. Last week, the Federal Reserve reported that four in ten Americans don’t have $400 to handle an emergency expense, and 25% of non-retired adults have absolutely no savings or pension to lean on once they stop working. Paying for just the basics, such as rent and medical care, is enormously stressful for many millions—even if they’re employed.
Facebook cofounder Chris Hughes has a $2.5 trillion plan to lift up the working class. Hughes, who made waves with his call to break up Facebook, helps lead the Economic Security Project, which is building support for boosting tax credits for working people.