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.
Another thing that most Americans don't realize is that poverty increased substantially in this country during the Bush 43 Administration. In 2001 when George Bush Jr. took offiice 32.907 million Americans lived in poverty or 11.7% of the population. In 2008 the last year of the Bush 43 Adiministration 39.829 million Americans lived in poverty or 13.2% of the population.
Thats not because there are more poor people, its because times were so good that the definition of povery has improved.
In 2001 poverty for a single individual was considered $9039 a year
In 2008 poverty was considered $10991. Thats a 20% spike in the definition of poverty in just 7 years which could only take place due to massive economic growth..
You confess to not reading the links that substantiate the OP's points and yet you fell qualifed to respond with rhetoric originating in an obviously rigid and closed minded place. You are entitled to your opinion and I will give you the benefit of the doubt by assuming that it is your opinion and not one proliferated by a right wing media shill, but there is a huge difference between an opinion and an uninformed opinion...yours is blatantly the latter. Your response reveals your ignorance to the reality of what is taking place in this country.
Agreed.
It continues to amaze that people rattle on as though it were 1960 and remain in a psychological cocoon simply because the calamity around us hasn't hit them personally yet.
Thats not because there are more poor people, its because times were so good that the definition of povery has improved.
In 2001 poverty for a single individual was considered $9039 a year
In 2008 poverty was considered $10991. Thats a 20% spike in the definition of poverty in just 7 years which could only take place due to massive economic growth..
Don't you think it's quite funny in an ironic way that as America sinks the definition of poverty level rises and the definition of who is wealthy gets lower ?
BTW...After ten years, Congress passed and the President signed legislation to raise the minimum wage. The legislation will raise the federal minimum wage from $5.15/hour to $7.25/hour in three steps over two years.
This is what you are blaming this nation's problems on? Pathetic!
Those who ignore history are bound to repeat it
it seems its you who want to ignore the facts. For example, increasing minimum wage does NOT reduce income inequality because you have to reduce work force and take the money elsewhere to makeup the additional expense. It creates MORE income inequality, not less because less people can work and you push more into poverty and on welfare.
it seems its you who want to ignore the facts. For example, increasing minimum wage does NOT reduce income inequality because you have to reduce work force and take the money elsewhere to makeup the additional expense. It creates MORE income inequality, not less because less people can work and you push more into poverty and on welfare.
Yup..because when labor costs go up cuts have to be made to maintain revenue. You cannot change one side of the equation and expect the same answer.
(rounded for easier math)
20 people at $5/hour = $100
20 people at $7/hour = $140
Where does that extra $40 come from in labor costs ? Does the company just "eat it" or make cuts in other places.
This is what happens to contain costs:
14 people at $7/hour = $98
So 14 people are better off than they were..but 6 are now SOL with no income.
The OP is about growing income inequality and skewed distribution of wealth. This affects the middle class more than any other. It is about the the percentage of wealth in the country that is concentrated within a small portion of the population and how this has affected the economy. Again, the market collapsed the last time we were in this situation...not sure why it's so hard for some to see the connection.
Again, I'm not seeing how the poor having nothing to do with the supposed skewing of the distribution of wealth. Do you realize that the cutoff for the top 5% of income earners is like $160k? That's not that much money. If the distribution of wealth is skewing but the middle class is also growing and the poor are getting poorer, what does that tell you? It most assuredly has something to do with the poor, and I believe you're ignorant if you think it doesn't.
Minimum wage laws are certainly among the most deadly job-killing entities out there, and raising them just makes things a hell of a lot worse, and especially for teenagers and newcomers to the workforce who need those jobs the most!!!!!
Again, I'm not seeing how the poor having nothing to do with the supposed skewing of the distribution of wealth. Do you realize that the cutoff for the top 5% of income earners is like $160k? That's not that much money. If the distribution of wealth is skewing but the middle class is also growing and the poor are getting poorer, what does that tell you? It most assuredly has something to do with the poor, and I believe you're ignorant if you think it doesn't.
I do not see where the middle class is 'growing'. I do see many that were middle class are now slipping into the 'poor' class.
So in your opinion you believe the 'poor' are responsible or equally responsible for wealth distribution?
Yup..because when labor costs go up cuts have to be made to maintain revenue. You cannot change one side of the equation and expect the same answer.
(rounded for easier math)
20 people at $5/hour = $100
20 people at $7/hour = $140
Where does that extra $40 come from in labor costs ? Does the company just "eat it" or make cuts in other places.
This is what happens to contain costs:
14 people at $7/hour = $98
So 14 people are better off than they were..but 6 are now SOL with no income.
20 people at $5/hour = $100
100 people at $1/hour = $100
Now the company can hire.
Of course 20 people are worse off than they were but 80 more have an income.
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.
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.
