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Thread: Middle-class poorer, earned less in 2000s

  1. #81
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by lpast View Post
    Ryan will fix this malais with the middle class...He will destroy medicare and give Romney a big TAX CUT...because the rich have gotten fabulously richer while pay half the taxs and they deserve more....and thats why im not a republican anymore folks...


    For the first time since at least World War II, middle-class families finished the first decade of the 21st century poorer and with lower incomes than they had 10 years earlier.
    And 85% of those surveyed say that in the 2000s, it was harder than before to maintain a middle-class lifestyle, according to a study out Wednesday by the Pew Research Center for Social and Demographic Trends.
    Median household income dropped nearly $3,500 for a three-person household, to $69,487 a year, the Pew study said. The median household's net worth dropped 28% to $93,150. Incomes have dropped since 2000, while wealth rose modestly early in the decade before gains were wiped out by the recession that began in 2007 recession and the financial crisis sparked in 2008, said Paul Taylor, a Pew executive vice president.



    "That the middle class always enjoys a rising standard of living is part of America's sense of itself, and it has always been true - until now," Taylor said in an interview, describing the 2000s as a "lost decade" for the middle class. "It's been 11 years since the peak in household incomes, and that covers the early part of the decade as well."
    The middle class grew smaller, poorer and more pessimistic during the decade, Pew said after analyzing both its own polling data and a raft of government and private economic reports. The results show even a weakening of Americans' traditional faith that their children will be better off than their parents, Taylor said: 43% of respondents think their children will be richer than they are, down from 51% in 2008.


    Study: Middle-class poorer, earned less in 2000s
    Giving the rich tax breaks on capital gains only serves to enrich the pockets of China and Brazil and other developing countries, while US jobs get cut. Then China lends the money back to us and charges us interest. How in the world people think giving so-called "job creators" more money to spend shipping jobs to these foreign countries ends up helping Americans is beyond me.
    (avatar by Thomas Nast)

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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Born Free View Post
    Speaking of the standard of living, it's getting worse for future generations. We are now living on money-steroids, thus far 16 trillion of borrowed steroids and counting. Now when the future generations have to pay that money back, it will be devastating. First there will not be anymore money borrowed, this will force every American to go to AA to recover. Second to make matters worse they will have to dig deep in their pocket to pay this steroid-money back. Instead of their money going to provide a better standard of living and infrastructure, it's going to pay our debt, that we greedy bastards are living on. Surly they will thank us for our living high on the hog while they live on peanuts because any money they do have will go to pay off debt.
    The potential standard of living is getting worse, I agree. To many of us we think that large debt/defecit is a cost that's eventually going ot have to be paid.
    Some people on these forums however, for example, believe not just that it won't be a big issue, that we never have to or should consider paying it back. Which is correct? I don't know, but I'll hedge my bets personally.

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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Mach View Post
    The potential standard of living is getting worse, I agree. To many of us we think that large debt/defecit is a cost that's eventually going ot have to be paid.
    Some people on these forums however, for example, believe not just that it won't be a big issue, that we never have to or should consider paying it back. Which is correct? I don't know, but I'll hedge my bets personally.
    There are many on the left and to be honest some on the right, think there is an endless supply of money. Then there are those of us that think we have to pay it back or follow in the steps of some of the failing countries in Europe. Our future generations are going to pay a heavy price for us living on borrowed money, it will make no difference if the money is paid back or not. The results of not paying it back will be the same if we did. Greece is a perfect example of what our future generations will be facing.
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Born Free View Post
    Let me give you one tiny example, we send 500 billion a yr to Oil Lords, bring that money home and all the jobs that go with it, and this country would boom. Does Keystone mean anything to you. It should those are union jobs, along with drilling jobs.

    Now lets take California and San Francisco an extreme liberal state, and home to Pelosi, guess what, they outsourced the building of the San Francisco Oakland Bay Bridge to China, all union jobs. These are liberals I'm talking about.
    No doubt about, coutries like China are definately cheaper. And if you think we should copy China, we can. But they are a communist country. Is that what you really want us to copy?

    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.

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    Re: Middle-class poorer, earned less in 2000s

    Poor-er?

    As if we're poor or something to begin with?

    I thought being middle class meant we're not poor - silly me!
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by lpast View Post
    That is just nonsense
    Sticking your head in the sand is nonsense.
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    Generalizations are stupid.
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Born Free View Post
    There are many on the left and to be honest some on the right, think there is an endless supply of money. Then there are those of us that think we have to pay it back or follow in the steps of some of the failing countries in Europe. Our future generations are going to pay a heavy price for us living on borrowed money, it will make no difference if the money is paid back or not. The results of not paying it back will be the same if we did. Greece is a perfect example of what our future generations will be facing.
    >.< Yes debt generally needs to be paid back. No, most of Europe is not failing because of debt or deficits. Spain was a model of fiscal responsibility right before plunging into crisis. Greece was not; but Greece was allowed to be what it was because the Eurozone masked its dramatic risks and failings.

    This myth that Europe is failing because of excessive spending and borrowing needs to be put down with prejudice. It. Is. Not. What. Happened.
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Paschendale View Post
    I really have no clue where you get that impression from. More people are attending college than ever before. More people are studying hard to learn more complex skills to obtain better jobs. More engineers, more journalists, more web designers, more teachers, more chefs, more technical writers, more everything. More people are striving harder than ever before. Job openings are swarmed with applications. And not just the "good" jobs. Minimum wage jobs. Part time jobs at the dollar store. Making sandwiches at Subway. Nurses. Insurance salesman, even! The rat race is on like it has never been.
    He's right. It's seems as though more and a more young people today have a sense of entitlement: "I went to college and spent four years of my life stuudying art and marketing, dammit! I DEMAND a job!" They never stop to consider what they're actually worth to an employer. They don't want to get their nails dirty or work for less than what they think they're entitled to. Instead, they'd rather sit on their asses and occupy Wall Street. Meanwhile, an employer could care less about the tens of thousands of dollars they racked up in Stafford loans. Maybe they should have apprenticed as plumbers instead.
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    Re: Middle-class poorer, earned less in 2000s

    Quote Originally Posted by Aunt Spiker View Post
    Poor-er?

    As if we're poor or something to begin with?

    I thought being middle class meant we're not poor - silly me!
    The middel class is shrinking, which I think is the point. And yes, it is in some ways better to be poor here than many other places (and this is a good thing), but the direction we're traveling seems to be going the wrong way. The trend is down and not up. Now, I also don't presidents are the problem, certainly not alone. There are a lot of problems and many of them not easy fixes. That said, one problem is the link between government and wealthy (business included). Money makes both too dependent on the other.

    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.

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    Re: Middle-class poorer, earned less in 2000s

    Yep! I have read this few days ago and I've come to view more about this. I found another article here: Middle class share of economy lowest since WWII.

    And I must say this must be the new talk of the town.

    As the issue goes further, Timothy Smeeding, a University of Wisconsin-Madison economics professor, said:

    “These are the disaffected middle class who work hard and play by the rules of society, but increasingly see their situation declining by forces beyond their control. No matter who is president, the climb back up for the middle class and the recovery will be slow and often painful.”


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