No, the time when the middle class had it best was when we were the world's manufacturing king. We knew how to create new wealth, and it takes new wealth to grow and thrive. The factories were humming and the people were working, using the value-added concept of creating new wealth.
Now free trade, onerous regulations, and taxes have driven much of that away and those were the taxpayers. The companies paid taxes and the payroll taxes rolled in.
It's gone, all of those great manufacturing centers are in ruins, it's not coming back, and we're going to crash.
+1
That was a time of real wealth creation, not phony wealth based upon insane debt levels. We have the ability, and resources, to do it again once the dust settles. I hope we make it happen, but there are absolutely no guarantees that is the path we will choose. West Germany and Japan succeeded in turning their countries around after being decimated in WWII, but other countries descended into Hades (eastern bloc). Different circumstances of course (no choice for some), but we do have a choice. Our own history gives us enough examples to know what works and what doesn't. I don't know if we as a country are smart enough to make the right choice though. We will find out soon; Midnight is fast approaching.