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Old 10-26-2018, 08:42 PM
 
1,141 posts, read 271,035 times
Reputation: 1591

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Great Economy!


https://www.youtube.com/watch?v=Jy87yvZua-g

Quote:

Middle class is disappearing in California as wealth gap grows | TheHill
https://thehill.com/opinion/finance/...alth-gap-grows

Middle Class Destroyed: 50 Percent Of All American Workers Make Less Than $30,533 A Year
Middle Class Destroyed: 50 Percent Of All American Workers Make Less Than $30,533 A Year

2018 Press Releases | Press Office | Social Security Administration
https://www.ssa.gov/news/press/releases/2018/#10-2018-1

Wage Statistics for 2017
https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2017

New record for number of homeless students in NYC - NY Daily News
New record for number of homeless students in NYC - NY Daily News
We are doing great!!!
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Old 10-26-2018, 09:34 PM
 
765 posts, read 425,630 times
Reputation: 1125
Our economy has been dead since 2001 and we have been faking economic growth ever since. Crazy Fed Chief Ben Bernanke cowardly borrowed money from the future to spend today - to give to the banks to spend today - so that he would not have to preside over DEFLATION. He FIXED nothing. He delayed the necessary DEFLATION in order to be the savior. But Jerome Powell is now doing the dirty work, UNWINDING BERNANKE's mistakes, which was encouraging MORE (NOT LESS) debt.
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Old 10-26-2018, 11:12 PM
 
Location: Outside US
512 posts, read 222,747 times
Reputation: 614
Yes, rough for many and getting tougher.....
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Old 10-27-2018, 04:05 AM
 
5,010 posts, read 2,385,736 times
Reputation: 9239
Quote:
Originally Posted by Tencent View Post
We are doing great!!!
That would be really neat of Tencent could bother offering his/her own insight or summary of the point they are trying to make, instead of links to social security and a clickbait youtube video with the melodramatic (and clearly false) claim that the US middle class is gone.
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Old 10-27-2018, 04:07 AM
 
12,412 posts, read 9,335,881 times
Reputation: 8876
"Half of US Workers near poverty level" needs serious clarification, because poverty thresholds are usually defined by the household and not by the worker. OP, please explain...
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Old 10-27-2018, 05:19 AM
 
Location: Northern Michigan
956 posts, read 451,652 times
Reputation: 3825
So a two earner, husband and wife, making 30K each, is a 60K household. Our salary was that for many years, and we did fine.

Unless of course OP is saying that two earners are only earning 30K between them, or $7.45 an hour each.
If that is their, or the OPs idea of a crisis, there is a significant amount of knowledge that needs to be pounded into their heads. Nobody in their right mind would try to live on that, and they should move up to better paying careers- such as MacDonalds.
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Old 10-27-2018, 05:20 AM
 
65,822 posts, read 67,139,137 times
Reputation: 44090
basically meaningless click bait .
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Old 10-27-2018, 05:37 AM
 
Location: The Triad (NC)
27,007 posts, read 58,613,279 times
Reputation: 29601
Quote:
Originally Posted by MichiganGreg View Post
So a two earner, husband and wife, making 30K each, is a 60K household.
Our salary was that for many years, and we did fine.
That's called "household income" and it's an awful measure of anything
--mostly because it assumes a preference for needing the second income.

Now you can get back to your argument about how little so many can earn.
If you ever get to wondering why that is... open a new thread.
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Old 10-27-2018, 05:37 AM
 
65,822 posts, read 67,139,137 times
Reputation: 44090
Quote:
Originally Posted by ncole1 View Post
"Half of US Workers near poverty level" needs serious clarification, because poverty thresholds are usually defined by the household and not by the worker. OP, please explain...
many are eligible for benefits too ,which can make incomes appear greater than they are .

just getting subsidized health insurance or medicaid can add 10-20k to a families income in effect. it is possible in some instances to see so much in perks with lower incomes that you are on a 40-50k per level .

here in new york city and in the boroughs ,right off the bat any senior living in stabilized apartments ,which 1/2 of all housing here is , they are exempt from rent increases as long as they are 62 and under 50k and the rent takes more than 30% or so of their income . they can get utility bill perks , etc .

all these kinds of things help bolster lower incomes to far greater levels .

this chart is based on levels years ago and of course not all perks are available to everyone or in all states , but it does show how small incomes can be bolstered to have the apparent levels of much higher incomes .


Last edited by mathjak107; 10-27-2018 at 05:47 AM..
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Old 10-27-2018, 07:57 AM
 
Location: Northern Michigan
956 posts, read 451,652 times
Reputation: 3825
Quote:
Originally Posted by MrRational View Post
That's called "household income" and it's an awful measure of anything
--mostly because it assumes a preference for needing the second income.

Now you can get back to your argument about how little so many can earn.
If you ever get to wondering why that is... open a new thread.
My profuse apology. How dare I insinuate that one or more earners in a 'household' grow a pair and do what it takes to step out of a bad financial situation.
Won't happen again.
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