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The Hidden History of the American Dream: The Demise of the Middle Class―and How to Rescue Our Future
America’s most popular progressive radio host and New York Times bestselling author explores the fall of the American Dream and the steps we can take to bring it back.
The widening wealth gap is all too familiar to many Millennials and GenZers, especially when home ownership and the lack of debt seem like faraway fantasies. And it’s no surprise when they only hold about 4.6% of the country’s wealth while Boomers held 22% at around the same age. So what happened to the promise of the American Dream?
In this new, final entry of his celebrated Hidden History Series, Thom Hartmann uncovers the rise of the American middle class through the progressive policies of FDR, through to its downfall with the increasing privatization and economic deregulations of the Reagan era.
He also explores potential solutions including:
Wealth and inheritance taxes to lessen economic inequality
Supporting unions through increasing labor rights
Renationalizing public spaces and transportation
The American Dream often remains just a dream for many, but this book highlights what needs to be done to take it back and help make it a reality for us all.
The widening wealth gap is all too familiar to many Millennials and GenZers, especially when home ownership and the lack of debt seem like faraway fantasies. And it’s no surprise when they only hold about 4.6% of the country’s wealth while Boomers held 22% at around the same age. So what happened to the promise of the American Dream?
In this new, final entry of his celebrated Hidden History Series, Thom Hartmann uncovers the rise of the American middle class through the progressive policies of FDR, through to its downfall with the increasing privatization and economic deregulations of the Reagan era.
He also explores potential solutions including:
Wealth and inheritance taxes to lessen economic inequality
Supporting unions through increasing labor rights
Renationalizing public spaces and transportation
The American Dream often remains just a dream for many, but this book highlights what needs to be done to take it back and help make it a reality for us all.
192 pages, Paperback
Published October 8, 2024
38 people are currently reading
114 people want to read
About the author
Thom Hartmann
90 books378 followersThomas Carl Hartmann is an American radio personality, author, businessman, and progressive political commentator. Hartmann has been hosting a nationally syndicated radio show, The Thom Hartmann Program, since 2003 and hosted a nightly television show, The Big Picture, between 2010 and 2017.
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Displaying 1 - 7 of 7 reviews
December 23, 2024
Thank you NetGalley and rbMedia for the ARC copy of the audiobook.
The book begins with the following quote:
The liberty of a democracy is not safe if the people tolerated the growth of private power to a point where it becomes stronger than the democratic state itself. That in its essence is fascism: ownership of government by an individual, by a group, or any controlling private power.
-Franklin D. Roosevelt
This book highlights policy changes, cultural changes, and Supreme Court rulings that have led us to this place of a dying American Dream. Read or listen to this book if you would like a concise historical account of the events leading up to current day economic woes. It ends with ways we can rescue our country from itself, but in no way do I see any of this happening in my lifetime and I’m a millennial.
The book begins with the following quote:
The liberty of a democracy is not safe if the people tolerated the growth of private power to a point where it becomes stronger than the democratic state itself. That in its essence is fascism: ownership of government by an individual, by a group, or any controlling private power.
-Franklin D. Roosevelt
This book highlights policy changes, cultural changes, and Supreme Court rulings that have led us to this place of a dying American Dream. Read or listen to this book if you would like a concise historical account of the events leading up to current day economic woes. It ends with ways we can rescue our country from itself, but in no way do I see any of this happening in my lifetime and I’m a millennial.
February 25, 2025
Good summary of how the American Dream of owning a home and having a decent middle class job peaked in 1980 and has steadily been undermined by the Reagan Revolution. In 1933, only 12% of Americans were in the middle class. About 62% of American families were in the middles class in 1980. Today only 43 percent of Americans qualify as middle class. And it takes 2 incomes for many families.
Reagan railed against unions, the number 1 cause of the growth of the middle class, and fired PATCO. Since then, 27 states passed right to work for less laws further weakening union membership.
Reagan slashed taxes on the rich and corporations. He reduced federal funds for college education making education more costly for the middle class. He allowed hospitals and health insurance companies to become private, for-profit companies (formerly they were non-profits) vastly increasing the cost of healthcare in America.
He removed regulations on banks and financial institutions directly causing the S&L crisis of 1987 and costing American taxpayers dearly. He ordered his DOJ not to enforce the antimonopoly laws. As a result, mergers and acquisitions exploded in the '80s and a few big companies began to dominate most industries causing prices to increase.
Globalization was encouraged. American factories moved overseas taking the good paying middle class jobs with them. The balance of trade began favoring countries like China, Japan, and Venuzuela. Those countries invested their wealth in the US housing market (the best return on investment in the world). They, along with Wall Street investors in the housing market, drove up the average home price higher and at a faster rate than at any time in the prior 40 years (1940 - 1980). In the 1950s, the median price of a single-family house was around 2.2 times the median American family income. Today it is more than 10 times the median American family income.
As a result of the neoliberalism Reagan introduced and then espoused by Republican and Democratic presidents since, the cost of the American Dream has increased beyond most young peoples' means.
Reagan railed against unions, the number 1 cause of the growth of the middle class, and fired PATCO. Since then, 27 states passed right to work for less laws further weakening union membership.
Reagan slashed taxes on the rich and corporations. He reduced federal funds for college education making education more costly for the middle class. He allowed hospitals and health insurance companies to become private, for-profit companies (formerly they were non-profits) vastly increasing the cost of healthcare in America.
He removed regulations on banks and financial institutions directly causing the S&L crisis of 1987 and costing American taxpayers dearly. He ordered his DOJ not to enforce the antimonopoly laws. As a result, mergers and acquisitions exploded in the '80s and a few big companies began to dominate most industries causing prices to increase.
Globalization was encouraged. American factories moved overseas taking the good paying middle class jobs with them. The balance of trade began favoring countries like China, Japan, and Venuzuela. Those countries invested their wealth in the US housing market (the best return on investment in the world). They, along with Wall Street investors in the housing market, drove up the average home price higher and at a faster rate than at any time in the prior 40 years (1940 - 1980). In the 1950s, the median price of a single-family house was around 2.2 times the median American family income. Today it is more than 10 times the median American family income.
As a result of the neoliberalism Reagan introduced and then espoused by Republican and Democratic presidents since, the cost of the American Dream has increased beyond most young peoples' means.
March 25, 2025
Thom Hartman may be familiar to people in Portland, Oregon where he is based. He was new to me. This was particularly surprising as he began in Michigan in Lansing and Michigan State and was on Air America. Somehow I missed him. He appears to be prolific with many books in a series with all the titles starting with "The Hidden History of..." This was a bit off-putting for me as it sounds like he's attempting to let you in on a conspiracy. Most conspiracy theories are more ill-founded than secretive. I put that aside and agreed with his basic premise.. The demise of the working class.
I believe Hartman is correct, the Democratic party is out of touch. While many see income inequality as having grown extensively in the last few decades, Democrats don't take it seriously enough and have been totally unsuccessful at reversing it, much to their detriment. The rise of MAGA is closely related to the demise of the American Dream. With the increase of income inequality more and more people find themselves unable to achieve the American Dream. They can't afford to buy a house. They have to live with their parents longer than they would like. They can't afford to go to college. They can't afford their own car. Fertile soil for anyone suggesting they will bring change, they have a better way, regardless of the truth of what they are suggesting. It's throw the bums out, anybody can do better than this. And guess what we get.
Hartman doesn't believe this just started with Trump. He sees the seeds of this with Ronald Reagan. I heartily agree. While Trump is much worse than Reagan it was Reagan who started speaking in these terms and suggesting things that Trump is doubling down on. I remember being a political pollster in the seventies and being totally disheartened when I realized that a majority of American were buying into the ideas Reagan was offering and more importantly, what he was making presentable. Reading this book reminded me when this all took hold. It's been downhill in many ways since then and now it's unbelievable. I agree with Hartman.
I believe Hartman is correct, the Democratic party is out of touch. While many see income inequality as having grown extensively in the last few decades, Democrats don't take it seriously enough and have been totally unsuccessful at reversing it, much to their detriment. The rise of MAGA is closely related to the demise of the American Dream. With the increase of income inequality more and more people find themselves unable to achieve the American Dream. They can't afford to buy a house. They have to live with their parents longer than they would like. They can't afford to go to college. They can't afford their own car. Fertile soil for anyone suggesting they will bring change, they have a better way, regardless of the truth of what they are suggesting. It's throw the bums out, anybody can do better than this. And guess what we get.
Hartman doesn't believe this just started with Trump. He sees the seeds of this with Ronald Reagan. I heartily agree. While Trump is much worse than Reagan it was Reagan who started speaking in these terms and suggesting things that Trump is doubling down on. I remember being a political pollster in the seventies and being totally disheartened when I realized that a majority of American were buying into the ideas Reagan was offering and more importantly, what he was making presentable. Reading this book reminded me when this all took hold. It's been downhill in many ways since then and now it's unbelievable. I agree with Hartman.
January 10, 2025
An author who delivers truth
Thom Hartmann never disappoints in delivering truth to power and to the rest of us! He also delivers the back stories so the reader know the evolution of that truth! I feel informed and empowered after each read!
Thom Hartmann never disappoints in delivering truth to power and to the rest of us! He also delivers the back stories so the reader know the evolution of that truth! I feel informed and empowered after each read!
June 12, 2025
Hartmann, Thom. The Hidden History of the American dream: The demise of the middle class- and how to rescue our future.
The downhill slide of the middle class began with Reagan and the Heritage foundation.
The middle class began with the New Deal under FDR, and boomed temporarily subsequent to WW II. Safety nets were established. The 1964 Civil Rights Act and the 1965 Voting Rights Act allowed some lucky minorities to buy into the middle class dream and the birth control pill allowed women to participate.
Education helped build the middle class. Student debt is a huge barrier to the future middle class.
Medical expenses helped bring down the middle class, unlike any other country in the “developed” world. “Medicare for all, like Canada has, would save American families thousand of dollars a year immediately and do away with the more than 500,000 annual bankruptcies in this country that happened only because someone in the family got sick.” P. 85.
“United States is the only developed country in the world that offers neither paid sick leave nor paid family leave.” P.92. Republicans would not let that improve. The other countries do not have as many billionaires either.
The Hidden History of the American Dream should be a high school reading requirement if the students are capable of understanding the subject matter and if the predominately Republican teachers do not contradict the talking points.. There are no real new revelations to anyone who has been around a while, but the author does name names.
Guess what beloved actor was major player. Guess what party holds down wages for workers while increasing income for the rich. Guess what party is disinterested in your health care. Guess what party seeks to expand the wealth divide. Guess what party supports white Christian nationalism. Guess what party does not care if you, your children, grandchildren are not vaccinated. Guess what party tramples upon your First Amendment rights. Guess what party wants the U.S. to be ruled by corporate oligarchs. Guess what party does not care about pollution.
If you faltered at even one of the previous concepts, you really need to read Hartmann’s books.
I only gave this book a four star because, although the author is direct to the point, a real solution is not put forward.
How do you unstupid a nation?
The downhill slide of the middle class began with Reagan and the Heritage foundation.
The middle class began with the New Deal under FDR, and boomed temporarily subsequent to WW II. Safety nets were established. The 1964 Civil Rights Act and the 1965 Voting Rights Act allowed some lucky minorities to buy into the middle class dream and the birth control pill allowed women to participate.
Education helped build the middle class. Student debt is a huge barrier to the future middle class.
Medical expenses helped bring down the middle class, unlike any other country in the “developed” world. “Medicare for all, like Canada has, would save American families thousand of dollars a year immediately and do away with the more than 500,000 annual bankruptcies in this country that happened only because someone in the family got sick.” P. 85.
“United States is the only developed country in the world that offers neither paid sick leave nor paid family leave.” P.92. Republicans would not let that improve. The other countries do not have as many billionaires either.
The Hidden History of the American Dream should be a high school reading requirement if the students are capable of understanding the subject matter and if the predominately Republican teachers do not contradict the talking points.. There are no real new revelations to anyone who has been around a while, but the author does name names.
Guess what beloved actor was major player. Guess what party holds down wages for workers while increasing income for the rich. Guess what party is disinterested in your health care. Guess what party seeks to expand the wealth divide. Guess what party supports white Christian nationalism. Guess what party does not care if you, your children, grandchildren are not vaccinated. Guess what party tramples upon your First Amendment rights. Guess what party wants the U.S. to be ruled by corporate oligarchs. Guess what party does not care about pollution.
If you faltered at even one of the previous concepts, you really need to read Hartmann’s books.
I only gave this book a four star because, although the author is direct to the point, a real solution is not put forward.
How do you unstupid a nation?
January 1, 2025
Hartmann's Hidden History series is not to be missed. The American Dream is probably his most concise and compact detailing the rise and fall of the middle class through the intersection of various policies and political leaders. The sad reality is that much of the detriment Hartmann outlines will not be seen by the average upper middle class individual until too late. I deeply appreciate that Hartmann typically has solutions or at least some steps in moving past just seeing the problems, which is the main critique I have against many of his contemporaries. Thanks to Netgalley for the audiobook review.
June 13, 2025
3.5* From a pretty progressive point of view, he does examine the circumstances of the loss of the middle class in the US. However, he does also point out problematic policies with democratic governments as well. Interesting but kind of sloppy reading.
Displaying 1 - 7 of 7 reviews