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Thread: Census shows 1 in 2 people are poor or low-income

  1. #191
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by whysoserious View Post
    Total income for a family of four? Keep in mind, that's the highest level of "low income" as well - so anything past that is lower-middle class. My gf makes $40,000 a year and we are barely able to afford a 2 bedroom apartment in Charlotte, NC.
    This year looks like I'm going to end up making $26k, with a family of 4, no gov assistance.
    Just bought a house, don't live pay check to pay check, have savings, investments, am saving for a down payment on a new car.

    Not accusing you of, but maybe there is a lot of frivolous spending going on some where.
    Then again, maybe Charlotte is more expensive.

    At $40k, with just 2 people, I'd be able to fully fund a Roth plus have a lot of disposable income.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by nijato View Post
    Maybe I should relocate, because it won't get you much more than an apartment in the wrong neighborhood around here. And that's the problem with national numbers. Comparing living costs in a big EC city to rural areas is worse than apples to oranges... at least those two are both fruit.
    I used to live in a semi rural area, but I recently moved 15 miles in towards the metro area.
    I'd say, I'm on the barely metro/barely semi rural line.

    Right now is a great time to buy a house around here.
    Mine was $60500, 3 bed, 2.5 bath in a neighborhood.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  3. #193
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by jimbo View Post
    The right is always going to get blamed for anything perceived as wrong ,in this country by the left, since to do otherwise would be admitting they are wrong , but in this case, the War On Poverty, a decidedly Democrat policy, has spent trillions since Johnson, and today the left is claiming that there are more poor than ever. Isn't it it about time to admit the error and move on to some other plan?
    Right or Left? The blame goes to anyone and every one who buys Chinese made goods and anyone and every one that supports trade with any country that takes advantage of the trade agreements.

    Dave Johnson: It's the Trade Deficit!

    We have to fix trade if we are going to fix the economy.

    China has accumulated more than a trillion dollars by selling to us and not buying from us. Think about what would happen to our economy if China used that money to place orders for U.S.-made goods. Factories would be opening up, people would be hired, stores would be humming... When you think about how much good that would do, you are understanding the harm their sell-only trade policy has done. They were supposed to buy from us, too, because that is what trade is. But they didn't, and here we are.

    Now, think about how much good it would do for China's economy, if our economy was humming from all those orders for our goods! When you think about that, and realize that China is not doing that, you might start to think that this is not an economic game China is playing. If it was about economics, they would use that money to place those orders, to revive our economy, which would mean we would be placing even more orders from them.

    But they aren't. Why is that?
    Is this hard to understand, Tariffs on Chinese products coming into America 2 to 3%, tariffs on American made goods going into China 30 to 40%

    US Trade Deficit - Trade Balance 1960 to the Present | MintLife Blog | Personal Finance News & Advice


    How many zeroes are in 690 billion? Most of us need to write it out, just to make sure we’ve got our numbers straight. President Obama can probably tell you in his sleep. He’s presiding over a $690 billion trade deficit, the largest in the history of the United States, both as a number (that’s ten zeroes, by the way) and as a percentage of our country’s GDP (that’s 5%). Our latest infographic takes a look at deficit spending through the decades.

    A trade deficit occurs when a country imports more goods and services than it exports. In the United States, imports have been out-sizing exports since the 1980s. In fact, the last time we produced a trade surplus was in 1975, with President Gerald Ford in residence at the White House. Ever since, our country has been living beyond its means, and the debt is steadily mounting.

  4. #194
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by 1Perry View Post
    Well, thanks anyway for your analysis as to why the theory you proposed isn't backed up by the actual numbers.
    It is and has been. There ahve been multiple links.


    I never mentioned the workers.
    Union isn't management, so I don't follow.

    My daughter got back more than she paid in taxes.
    So do I, but then I pay extra each month.

    But that skips the point, doesn't it?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  5. #195
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by AdamT View Post
    That is actually the saddest thing about it: that you can't even conceive of people caring about the less fortunate.
    I do, many of us conservatives do and give the poor lots of money

    what we know is bull poop are rich dems who claim their desires to jack up our taxes is based on a desire to help the poor as opposed to their own election chances

    and I have nothing but contempt for the scumbags who claim that they want to help the poor by DEMANDING OTHERS pay more taxes

  6. #196
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    Re: Census shows 1 in 2 people are poor or low-income

    For 1Perry:

    George H. W. Bush wisely pointed out in his 1980 debate with Ronald Reagan that expecting to balance the budget with tax cuts and defense spending increases was “voodoo economics.” But along with Reagan’s ascendancy came the rise of huge budget deficits — that Bush wisely helped end when he agreed to raise taxes in 1990.

    Despite $858 billion in December 2010 tax cuts, companies still complain that they pay too much in tax. General Electric (GE) has become famous for paying no taxes on its $5.1 billion in 2010 U.S. profits while keeping a big staff of lawyers on hand to make sure it pays as few of them as possible. Meanwhile, the New York Times reports that GE is not alone and that the prevailing estimate for the actual U.S. corporate tax rate is 25% — costing the U.S. about $100 billion in lost revenue.

    But corporations have absolutely no reason to complain about taxes. After all, they earned record 2010 profits of $1.68 trillion and 85% of them are beating their first quarter 2011 earnings estimates as 70% are growing revenue faster than expected while their operating margins stand at a near record 19.8%.

    Do Tax Cuts Create Jobs? - Forbes

    Who needs a tax cut, then? The U.S. economy is very much consumer-driven; companies aren’t hiring, many business owners say, because people aren’t buying. The past behavior of corporations that have received huge tax cuts has not necessarily been to use the money to hire more people; the Bush-era tax cuts have been in place for a decade, and the unemployment rate is still 9.1 percent. And executive compensation has grown. Executives may feel entitled to earn more and more if their companies are doing well and expanding. But without customers, those companies will go bust.

    Corporate Tax Cuts Don't Stimulate Job Growth - Susan Milligan (usnews.com)

    Th ese fi ndings shouldn’t be surprising: tax cuts always have consequences for public investments, and lower taxes generally lead to lower-quality public services and fewer public sector jobs. Providing businesses with a low-tax, low-service environment is not a winning strategy for att racting investment. Moreover, compared to other costs of doing business, state and local taxes are rather insignifi cant for the companies themselves.

    (snip)

    Whatever short-run benefi t these tax breaks may have for specific businesses, they have a larger corrosive effect on a state’s business climate for two reasons: each of these tax giveaways make it harder for states to adequately fund public services—and these tax giveaways ultimately shift the cost of funding these services onto the backs of every other taxpayer.

    http://www.itepnet.org/pdf/pb42.pdf

    So with all that cash, why aren't banks lending and big companies investing and creating jobs, one might ask?

    The even more important question is: if banks and businesses have that record hoard of cash on hand why should their taxes be cut, in effect increasing even more that hoard of cash that isn't being invested? Won't they just continue to hoard the tax cut too?

    The idea that cutting business and wealthy investors' taxes originated in 1961 with then President John F. Kennedy. But at that time business investment tax cuts were tied to proven job creation. Businesses had to prove they added jobs before they could claim the tax cut. That was changed with Reagan. Now businesses could get the tax credits even if they didn't create jobs. Their taxes were cut even if it meant they reduced jobs. By the time of George W. Bush, businesses could claim tax cuts for investments made offshore. GM cut hundreds of thousands of jobs in the U.S. while adding thousands in China. Ford cut jobs while adding them in St. Petersburg, Russia. Corporations could claim the investment tax cuts, even if jobs were created offshore and simultaneously eliminated in the U.S. In effect, U.S. taxpayers were paying US corporations to send their jobs overseas.

    Between 2001-2004 George W. Bush pushed through a series of annual tax cuts for investors and corporations that amounted to a total of $3.4 trillion over the recent decade, according to the Center on Budget and Policy Priorities. Every tax cut bill passed between 2001-2004 was called a jobs creation bill. More than 80% of the $3.4 trillion eventually accrued to the wealthiest 20% of households and corporations, and most of that to the top 0.1%, or 100,000 households, and the S&P's largest companies. And what did George W. Bush's business-investor tax cut produce in terms of jobs? The period 2001-2004 witnessed the weakest jobs creation on record following a recession. It took a full 46 months just to recover the level of jobs in the U.S. that existed in January 2001, when the recession began. Estimates today after the current recession are that it will take 7-8 years to recover the lost jobs, if even then.


    Why Tax Cuts Don’t—and Won’t—Create Jobs - Working In These Times

    That was just the next few. There's even more if you want to read.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  7. #197
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Boo Radley View Post
    It is and has been. There ahve been multiple links.
    Then I guess none of them actually looked at the numbers.

    Union isn't management, so I don't follow.
    The union looks out for the union.

    So do I, but then I pay extra each month.

    But that skips the point, doesn't it?
    Other than what you said making no sense.

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Boo Radley View Post
    For 1Perry:
    That was a lot of work but it does nothing to prove the point you were making about the states. The only state with higher unemployment was Florida and it's pretty much the same as Illinois.

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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by TurtleDude View Post
    I do, many of us conservatives do and give the poor lots of money

    what we know is bull poop are rich dems who claim their desires to jack up our taxes is based on a desire to help the poor as opposed to their own election chances

    and I have nothing but contempt for the scumbags who claim that they want to help the poor by DEMANDING OTHERS pay more taxes
    In a prior post you asked why you should pay more in taxes I gave you an answer and as usual you avoid answering and call my opinion physcobabble, why can't you answer? I will post it again for you maybe you missed my post


    Originally Posted by TurtleDude

    psychobabble at its worst
    Okay I will babble on I under stand you are a lawyer, did you alone pay for the court houses? Do you alone pay for the judges, do you alone pay for the laws? Do you think in some way at 350.00 per hour you benefit more for the facilities needed and the judges required or the laws that you use in your vocation? Now please have a little respect for us hard workers who make it possible for you to make 350.00 per hour
    Your earning your living using facilities and laws that every American has contributed to why should you not be required to pay more?

  10. #200
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    Re: Census shows 1 in 2 people are poor or low-income

    Quote Originally Posted by Wake View Post
    What do you mean? I saw you were talking about this earlier, and then when I was checking my emails I saw this story and was like, "what the heck, 1 in 2?"

    There is no "real" Wake. People's ideologies change over time.
    Haven't read through the thread to see if it has already been noted. But the good news is that 1 out of every 2 Americans is also rich or above average income.



    Better living through statistics....


    “Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life.”

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