Middle Class is shrinking Article
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Middle Class is shrinking Article

  1. #1
    Icy
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    Default Middle Class is shrinking Article

    A lot of interesting facts in here, granted I didn't look into the SOURCE of the facts.

    I bolded some I found most interesting.

    *83 percent of all U.S. stocks are in the hands of 1 percent of the people.
    • 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
    • 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
    • 36 percent of Americans say that they don't contribute anything to retirement savings.
    • A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
    • 24 percent of American workers say that they have postponed their planned retirement age in the past year.
    • Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
    • Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
    • For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
    • In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
    • As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
    • The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
    • Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
    • In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
    • The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
    • In America today, the average time needed to find a job has risen to a record 35.2 weeks.
    • More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
    • or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
    • This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.
    • Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
    • Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.
    • The top 10 percent of Americans now earn around 50 percent of our national income.

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    Quote Originally Posted by Icy View Post
    A lot of interesting facts in here, granted I didn't look into the SOURCE of the facts.

    I bolded some I found most interesting.

    • 24 percent of American workers say that they have postponed their planned retirement age in the past year.
    Yup. Postponed mine to maybe, never.


    • In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
    I should give myself a raise.
    .

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    AARP Member Rocket-J's Avatar
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    I was anti-Obama before he was elected but now that I have lost so much in asset value the hand-outs are starting to get real attractive. Another year or so, I will be more than happy to stand in his hand-out lines. What a fine system we have to help the poor. It's just making more poor people than it is getting rid of.

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    Living in a cage of fear thatguy's Avatar
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    Quote Originally Posted by Rocket-J View Post
    I was anti-Obama before he was elected but now that I have lost so much in asset value the hand-outs are starting to get real attractive. Another year or so, I will be more than happy to stand in his hand-out lines. What a fine system we have to help the poor. It's just making more poor people than it is getting rid of.
    Well, that is the basic plan.
    Only those with their heads in the sand don't believe it, or they agree with it.
    Tommy

    Quote Originally Posted by heavy flow View Post
    i'm a blind dumb liberal.
    Quote Originally Posted by Tom Brown View Post
    Obama also possesses extreme intellect.


    "So as through a glass, and darkly
    The age long strife I see
    Where I fought in many guises,
    Many names, but always me."

    Gen. George S Patton

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    Fact! You cannot tax a nation into prosperity!
    Someone forgot to tell our current administration unless that's their objective, to make a third world country out of America where corruption at the top keeps the citizens in the poor house depending upon the government.

    For the record, before income taxes were levied against the American people, we were then the richest nation in the world. Our government carried zero debt. We had little or no unemployment, we had the richest middle class in the world and our exports exceed our imports by multiples. For the liberals who actually believe we're headed in a better direction with this Kenyan at the helm, may I refer you to these simple facts from recent history.
    The best things in life aren't things!

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    Senior Member Uminchu's Avatar
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    Quote Originally Posted by The Doctor View Post
    Fact! You cannot tax a nation into prosperity!
    Someone forgot to tell our current administration unless that's their objective, to make a third world country out of America where corruption at the top keeps the citizens in the poor house depending upon the government.

    For the record, before income taxes were levied against the American people, we were then the richest nation in the world. Our government carried zero debt. We had little or no unemployment, we had the richest middle class in the world and our exports exceed our imports by multiples. For the liberals who actually believe we're headed in a better direction with this Kenyan at the helm, may I refer you to these simple facts from recent history.
    I think the liberals, and certainly the conservatives knew we were headed in this direction when Bush started an expensive war with no clear-cut goals.

    The economy was in the toilet long before Obama, and wasn't it Bush who decreed he alone could determine where the stimulous money went?

    Did that paltry 1200 bucks he gave out give the economy a boost in the arm or what? Or was that money to make us all fall in love with a Republican President who'd slipped to the least popular in history?

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    Icy
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    Quote Originally Posted by Uminchu View Post
    I think the liberals, and certainly the conservatives knew we were headed in this direction when Bush started an expensive war with no clear-cut goals.

    The economy was in the toilet long before Obama, and wasn't it Bush who decreed he alone could determine where the stimulous money went?

    Did that paltry 1200 bucks he gave out give the economy a boost in the arm or what? Or was that money to make us all fall in love with a Republican President who'd slipped to the least popular in history?
    So doc talks about early 1900s and you bring up early 2000s? Nice logic there.

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    Quote Originally Posted by Icy View Post
    So doc talks about early 1900s and you bring up early 2000s? Nice logic there.

    I'll split the difference and make a post about the 1950s.

    Bottom bracket: 22.2%
    Top bracket: 92%!!!!!

    Today it's 10% and 35% respectively.

    Waging war is expensive business.

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    Red Blooded American The Doctor's Avatar
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    Quote Originally Posted by Uminchu View Post
    The economy was in the toilet long before Obama, and wasn't it Bush who decreed he alone could determine where the stimulous money went?
    The very same thing could be said of Reagan taking over Jimmy Carter's economic disaster but, within a year of his taking office, the economy was being stimulated, consumer confidence began to return, borrowing money cost nearly 50% of what he inherited and not one of these things could be said of your hero. Instead you choose to blame Bush for everything the Kenyan can't correct. Keep blaming Bush and you might get appointed to a cabinet position.
    The best things in life aren't things!

  11. #10
    Ultra26 # 1
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    1961 91.00% Kennedy
    1962 91.00% Kennedy
    1963 91.00% Kennedy/Johnson
    1964 77.00% Johnson
    1965 70.00% Johnson
    1966 70.00% Johnson
    1967 70.00% Johnson
    1968 75.25% Johnson
    1969 77.00% Nixon
    1970 71.75% Nixon
    1971 70.00% Nixon
    1972 70.00% Nixon
    1973 70.00% Nixon
    1974 70.00% Nixon/Ford
    1975 70.00% Ford
    1976 70.00% Ford
    1977 70.00% Carter
    1978 70.00% Carter
    1979 70.00% Carter
    1980 70.00% Carter
    1981 69.13% Reagan
    1982 50.00% Reagan
    1983 50.00% Reagan
    1984 50.00% Reagan
    1985 50.00% Reagan
    1986 50.00% Reagan
    1987 38.50% Reagan
    1988 28.00% Reagan
    1989 28.00% Bush Sr
    1990 31.00% Bush Sr
    1991 31.00% Bush Sr
    1992 31.00% Bush Sr
    1993 39.60% Clinton
    1994 39.60% Clinton
    1995 39.60% Clinton
    1996 39.60% Clinton
    1997 39.60% Clinton
    1998 39.60% Clinton
    1999 39.60% Clinton
    2000 39.60% Clinton
    2001 38.60% GW Bush
    2002 38.60% GW Bush
    2003 35.00% GW Bush
    2004 35.00% GW Bush
    2005 35.00% GW Bush
    2006 35.00% GW Bush
    2007 35.00% GW Bush
    2008 35.00% GW Bush
    2009 35.00% Obama
    2010 35.00% Obama

    Reagan had one year where the max tax rate was below where it is today. Bush Sr (read my lips) raised the max rate. Clinton raised the max rate to 39% and with help of a Republican House and Senate, left office with a budget surplus. Gw Bush lowered the max and with two wars that went unpaid for and left office with the highest budget deficit of any President in history leaving office. President Obama is talking about letting the tax rates revert to the Clinton rates on those making $250K and over.

    We'll see where this takes us.
    Last edited by Ultra26 # 1; 07-25-2010 at 03:01 PM.

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    Impeachment! 75 TX's Avatar
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    Quote Originally Posted by Boss460 View Post

    Waging war is expensive business.
    It sure is. Even more so when you have demoncrats undermining the effort for political gain.

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    Red Blooded American The Doctor's Avatar
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    Anyone who believed the Kenyan's campaign promise of not raising taxes "one single dime" on anyone making less than $250K per year is going to be quite disappointed shortly. Just another lie, I suppose.
    Still loving this hope and change boys?

    http://online.wsj.com/article/SB1000...267381152.html

    http://www.american.com/archive/2010...we-already-are

    http://sweetness-light.com/archive/o...class-tax-hike

    http://www.cato.org/pubs/tbb/tbb_0609-57.pdf

    http://www.wowowow.com/pov/will-obam...iz-peek-464051

    http://blogs.abcnews.com/george/2009...dle-class.html
    The best things in life aren't things!

  14. #13
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    Quote Originally Posted by The Doctor View Post
    Anyone who believed the Kenyan's campaign promise of not raising taxes "one single dime" on anyone making less than $250K per year is going to be quite disappointed shortly. Just another lie, I suppose.
    Still loving this hope and change boys?

    http://online.wsj.com/article/SB1000...267381152.html

    http://www.american.com/archive/2010...we-already-are

    http://sweetness-light.com/archive/o...class-tax-hike

    http://www.cato.org/pubs/tbb/tbb_0609-57.pdf

    http://www.wowowow.com/pov/will-obam...iz-peek-464051

    http://blogs.abcnews.com/george/2009...dle-class.html
    Hopefully you didn't waste too much time finding links that support your hatred and disrespect for the President.

    We'll see come Jan Doc
    Last edited by Ultra26 # 1; 07-25-2010 at 02:59 PM.

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    AARP Member Rocket-J's Avatar
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    Remember that 1962-1972 were war years also. In some cases, wars actually help the economy. Can't blame this war on the entire economy decline. Many companies profit from war. A good amount of politicians have there fingers in some of these companies. Pres. Johnson owned part of a Rail Road in Vietnam. Wars generate jobs. Who milks that cow is the problem.
    You have to admit that our countries leaders have made many poor decisions for there own benefit, or owed favors. Doesn't matter what party you look at.
    We need to through out the trash. November is trash collection day.

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