Word: trend
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Dates: during 1980-1989
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...business. "Congress has given us a supposedly simplified tax law," says Jean Hehn, a tax adviser in Port Washington, N.Y. "Well, there are so many ifs, buts and whens in it that it's going to bring our profession tremendous business for a long time." One sign of the trend: Shearson Lehman Bros. last week advised its clients to buy stock in H. & R. Block...
...group could reasonably be described as those families with incomes between the Census Bureau brackets of $15,000 and $49,999. According to the census, the proportion of U.S. families in that category, after adjustment for inflation, shrank from 65.1% in 1970 to 58.2% in 1985 (see chart). The trend is far from being a completely odious phenomenon, though. The statistics show that more families departing the middle class have moved up than down. Families with incomes of $50,000 or more -- considered the gateway to the upper class -- increased from 13% of the population to 18.3% during...
...trend watchers, however, believe the middle class is being seriously eroded. Neal Rosenthal, an economist for the Government's Bureau of Labor Statistics, sees no real polarization in wages, for example. He found increases between 1973 and 1982 in the number of workers in middle- and upper- salary positions and a decrease in the low-income category. In this view, the middle-class shrinkage seen by other economists may be caused by the impossibility of matching some displaced workers to the new middle-class jobs that are being created. Observes Robert Lawrence, a senior fellow at the Brookings Institution...
...trend has produced what might be called the middle-class blues, in which today's young middle-class families live under the threat of downward mobility, fearful that they will be unable to meet the standard set by the previous generation. Says David Jacobsohn, 31, a computer systems analyst in Boston: "I'm not doing as well as my father at this point, but I think in ten years or so I'll be able to." Many people who went into middle-class careers are now bitterly disappointed. Ella Parham, 39, of Boston, earns $31,400 as a third-grade...
...while the interest rate trend has been favorable, hundreds of the weakest thrift institutions have been all but overwhelmed by unexpectedly large losses from bad loans. Many of the shakiest institutions are in communities that rely on farming or energy production, which have been deeply depressed. About 31% of the savings associations in Iowa and 43% in Oklahoma are losing money. Just last month, a major oil-patch S and L, Western Savings Association of Dallas, was declared insolvent, and control of its $2 billion in assets was seized by the bank board. It was the third largest thrift industry...