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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.
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
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.
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.
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 you’re going to consider what 2015 living standards provided by each state’s median family income, Maryland’s median was $75,847, Mississippi’s 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 wouldn’t consider a Maryland family earning 30% of Maryland’s median income, Less than $23,000 as poor or $30,000 as not poor?
You wouldn’t consider a Mississippi family earning 30% of Mississippi’s median income, Less than $12,178 as poor or $16,238 as not poor?
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.
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
Maat55, I regret the changes of consumer price index methodology introduced during Obama’s administration, but the since the 1975 introduction of Cost-of-living adjustments, (COLA) for determining each year’s Social Security retirement benefits has and continues be a substantial improvement of the Social Security retirement system.
(I’m an old man; I expect within my lifetime to witness the introduction of COLA for determining each year’s federal minimum wage rate).
Quote:
Originally Posted by Hoonose
It also reflects the fact that personal income does not keep up with productivity.
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.
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