U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-09-2018, 04:33 AM
 
1,127 posts, read 595,611 times
Reputation: 312

Advertisements

Quote:
Originally Posted by Hoonose View Post
Well, I think we already take care of our poor. The std of living of our poor is some of the best in the world. ...
HooNose, you missed the point of my post. In the USA, those earning within the income bracket between 20% - 40% of the median-wage are considered, (with good reason) to be poor, rather than to be simply earning lesser incomes. That’s an indication of less than a populist economy, (i.e. a poorer than otherwise economy).

Median income earning for many proportions of our income earners are becoming an income barrier that they cannot reasonably expect to penetrate.
USA was justifiably proud of our great social and economic mobility. Excluding durations of depression or recession, greater proportions of each generation’s income earners were moving up. Now it appears that such populist progress is being more accomplished elsewhere than the United States.

Any improvement of a nation’s educational and training systems will be reflected by no less improved extents of our economic and social well-being.
Refer to https://en.wikipedia.org/wiki/Socioe..._United_States

Last edited by Supposn; 12-09-2018 at 04:41 AM..
Reply With Quote Quick reply to this message

 
Old 12-09-2018, 10:03 AM
 
8,436 posts, read 3,578,682 times
Reputation: 1635
Quote:
Originally Posted by Supposn View Post
HooNose, you missed the point of my post. In the USA, those earning within the income bracket between 20% - 40% of the median-wage are considered, (with good reason) to be poor, rather than to be simply earning lesser incomes. Thatís an indication of less than a populist economy, (i.e. a poorer than otherwise economy).

Median income earning for many proportions of our income earners are becoming an income barrier that they cannot reasonably expect to penetrate.
USA was justifiably proud of our great social and economic mobility. Excluding durations of depression or recession, greater proportions of each generationís income earners were moving up. Now it appears that such populist progress is being more accomplished elsewhere than the United States.

Any improvement of a nationís educational and training systems will be reflected by no less improved extents of our economic and social well-being.
Refer to https://en.wikipedia.org/wiki/Socioe..._United_States
I agree that our middle class income is about going nowhere. IMO that will continue. Without new central programs focused on the middle class through new money creation schemes, their std of living will drop over the years.

We need to promote or provide moneys for education, training, HC, infrastructure, cheap energies.

I am not saying it will be easy, or anything just 'free', but make all education and training comfortable in cost, same with HC, for the broad middle class. Create new moneys for infrastructure that will augment commerce, transportation for the broad middle class.

As long as inflation is nominal this all can work and the middle class can benefit more from our modern money.
Reply With Quote Quick reply to this message
 
Old 12-11-2018, 06:36 PM
 
Location: Ohio
18,403 posts, read 13,488,392 times
Reputation: 14335
Quote:
Originally Posted by Supposn View Post
In the USA, those earning within the income bracket between 20% - 40% of the median-wage are considered, (with good reason) to be poor, rather than to be simply earning lesser incomes.

That's a false belief. Someone earning $35,000 in Cincinnati earns $10,000 more than someone making $70,000 in White Plains (New Jersey).


Income isn't relevant. What's relevant is how much you can buy with what you make. There are people earning less than $30,000 who have an higher Standard of Living than someone earning $50,000 or $70,000 in other parts of the US.
Reply With Quote Quick reply to this message
 
Old 12-11-2018, 06:37 PM
 
66,251 posts, read 67,472,850 times
Reputation: 44389
This is a concept so many just can’t grasp. However white plains is not in New Jersey , it is in ny

Last edited by mathjak107; 12-11-2018 at 06:55 PM..
Reply With Quote Quick reply to this message
 
Old 12-11-2018, 08:57 PM
 
1,127 posts, read 595,611 times
Reputation: 312
Quote:
Originally Posted by Mircea View Post
That's a false belief. Someone earning $35,000 in Cincinnati earns $10,000 more than someone making $70,000 in White Plains (New Jersey).


Income isn't relevant. What's relevant is how much you can buy with what you make. There are people earning less than $30,000 who have an higher Standard of Living than someone earning $50,000 or $70,000 in other parts of the US.
Mircea, the median family income in 2017 was less than $60,000.
Families within the 20% to 40% bracket of median family income would be within less than $12,00 to less than $24,000 brackt.
Depending upon how many persons in the family, those are poor or poorer families anywhere in the United States.

If youíre going to consider what 2015 living standards provided by each stateís median family income, Marylandís median was $75,847, Mississippiís median was $40,593.
Refer to https://en.wikipedia.org/wiki/List_o...me#cite_note-1 (1) Bureau, U.S. Census. "American FactFinder - Results". factfinder.census.gov. Retrieved 28 July 2017.

For Maryland, that would be the bracket of $15,169.4 to $30,338.8 bracket. You wouldnít consider a Maryland family earning 30% of Marylandís median income, Less than $23,000 as poor or $30,000 as not poor?
You wouldnít consider a Mississippi family earning 30% of Mississippiís median income, Less than $12,178 as poor or $16,238 as not poor?
Reply With Quote Quick reply to this message
 
Old Today, 12:23 PM
 
1,795 posts, read 723,482 times
Reputation: 675
Throw this out there. Medical costs for the typical family were 4 times lower in 1979 (this includes adjusting for inflation) That would just about eat up alot of the gains shown here. Add in the lost of other benefits like pensions, and I;m willing to bet on average the middle class truly is stagnant when it comes to buying power vs cost of living.
Reply With Quote Quick reply to this message
 
Old Today, 01:28 PM
 
1,127 posts, read 595,611 times
Reputation: 312
Quote:
Originally Posted by East of the River View Post
Throw this out there. Medical costs for the typical family were 4 times lower in 1979 (this includes adjusting for inflation) That would just about eat up alot of the gains shown here. Add in the lost of other benefits like pensions, and I;m willing to bet on average the middle class truly is stagnant when it comes to buying power vs cost of living.
East of the River, you'd win that bet.
I'm a proponent of gradually increasing the minimum wage rate to 125% OF its February 1968 puchasing power and thereafter retaing that purchasing power.
Quote:
Originally Posted by Supposn View Post
Maat55, I regret the changes of consumer price index methodology introduced during Obamaís administration, but the since the 1975 introduction of Cost-of-living adjustments, (COLA) for determining each yearís Social Security retirement benefits has and continues be a substantial improvement of the Social Security retirement system.
(Iím an old man; I expect within my lifetime to witness the introduction of COLA for determining each yearís federal minimum wage rate).
Quote:
Originally Posted by Hoonose View Post
It also reflects the fact that personal income does not keep up with productivity.

https://en.wikipedia.org/wiki/File:U...old_income.png
Reply With Quote Quick reply to this message
 
Old Today, 01:36 PM
 
8,436 posts, read 3,578,682 times
Reputation: 1635
Quote:
Originally Posted by East of the River View Post
Throw this out there. Medical costs for the typical family were 4 times lower in 1979 (this includes adjusting for inflation) That would just about eat up alot of the gains shown here. Add in the lost of other benefits like pensions, and I;m willing to bet on average the middle class truly is stagnant when it comes to buying power vs cost of living.
And why I continue to propose middle class OOP HC cost relief as a way to quickly improve on our standards of living.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top