Poverty Street USA: Where Does it Begin and End?
Easy economics: You have ONE cake and you need to feed a cross-section of people. Say 100 people in all. One person starts to carve out a piece for himself equal to 40% of the whole cake. Almost half. That leaves 60% for the remaining 99 people. Then 20 persons grab 70 % of what´s left. Now only 18% cake is left for the remaining 79 people. They have to struggle for the crumbs and there just isn´t enough. To feed them, the government borrows crumbs from a Chinese bakery.
What can they do to survive? Steal, beg or borrow is out. We are already borrowing from China, going deeper and deeper in debt to a communist regime. Big mistake.
There are only two solutions: 1. Find a mountain of gold, or, 2. tax the richest because they can afford it. And yes, it is good for business because tax dollars trickle on down through all levels of society creating the one thing that will get us going as a Nation again: jobs, jobs and more jobs. Time to do the patriotic thing, mr. rich guy. To the County that has given you so much; time to plug that hole in the Chinese wall and pay more tax.
Read the article NPR/Census: 1 In 2 Americans Is Poor Or Low-Income
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Trickle-down economics... that is, trickle all the way down the poverty chute.
The real paradox of this whole unavoidable slide into poverty for a vast majority of Americans? Voting against their own economic interests by thinking that voting their values on abortion, religion in school, and a myriad other matters of personal choice is more important than adequate shelter, safe food, grants for higher education, affordable childcare, adequate healthcare, and reasonable regulatory policies that police against uncontrolled greed, rampant corruption (K street anyone?), offshore tax havens, labor standards abroad for multinational companies based in the U.S., and a destruction of our environment.
We live in interesting times.
Read the article NPR/Census: 1 In 2 Americans Is Poor Or Low-Income
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Inflation people, inflation. When the money supply expands, inflation sets in ... the price of goods, housing, tuition, ect. goes up, while your wages do not. When you combine that with efforts in Washington (bipartisan I might add), to ship your manufacturing jobs overseas, thus increasing the profit margins of companies who are also increase their prices ... and you end in the mess of inequality we see today.
I can't stress enough how important it is to restructure our monetary system, to better serve the average person.
Also people, realize that neither Democrats or Republicans in Washington are fighting in your corner ... they both equally contribute to these problems, and need to be held accountable. Next election, try voting for someone, instead of against the greater evil.
Read the article NPR/Census: 1 In 2 Americans Is Poor Or Low-Income
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I am again disappointed in many of you who do not understand what has occurred (over the past 50 years) and just throw out your Fox News level of analysis. There are so many things that have contributed to the problems that this country is experiencing.
I'd say the FACT that overall wages for working-class, blue-collar, self-employed, lower-middle-class (which is most of us) etc. have stagnated since the late 70's is a HUGE contributing factor. AND, before THAT, reducing the taxation of wealth and corporations.
What occurred in 2007 is a continuation of actions happening 35 years ago: continuing stagnation of wages (adjusted for inflation), and further reductions of taxes on wealth and corporations.
I'd like all of us to learn about what is happening and what can be done, and learn about this stuff together because we ARE in it together. IT IS OUR COUNTRY, STATES, TOWNS, COMMUNITIES, AND HOMES. We're in a boat; there are holes that keep popping up, and someone or group is benefiting from that while the entire population is going down with the boat.
This is data from the 2010 Census. what do we want the data to show in 2020?
Read the article NPR/Census: 1 In 2 Americans Is Poor Or Low-Income
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QUIT BLAMING THE POOR FOR BEING POOR!
There are many hard working Americans who work, or have worked their whole lives and find, guess what...they are still poor. They still can't make ends meet. They still have to chose between eating and going to the doctor. If there is not a fundamental and spiritual change of attitude, of heart in this country, then there will never be a change.
Maybe corporations aren't to blame, but if these corporations who decide to go to another country because it's cheaper really cared about American workers, maybe they would come back.
Maybe we should look at health care in terms of prevention and healthy eating and make the healthy foods more affordable. Maybe we should take these drug companies that push pills like Lipatour and ban them! If we can go to war without so much as a public debate on whether or not we are bombing a country that had anything to do with 9/11, then we should not argue so much over whether or not every American is entitled to quality/affordable health care.
Read the article NPR/Census: 1 In 2 Americans Is Poor Or Low-Income
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Poor, is a very vague term in today's society. I live in Baltimore/DC area, a bit pricey, compared to many other areas, I make a bit more than that, have 2 kidsand a wife. I am about 3 yrs from paying off my house, which is worth a little above average price in the area.I have 3 cars, 3 tvs, 2 cel phones, 2 video game systems. I have been an Automotive Mechanic my whole life. I have no revolving debt other than my house. I could easily live on 45k a year now. I have family in FLA who make half of what I make in similar situation. I have family in S/W PA who have a house paid off up there which would be 700k down here easily, they also have 2 kids, He is a carpenter and only works when the weather is good, he brings home less than this. I wonder where they pull these figures from? My neighbors think I make way more money than I do, is it just a case of knowing how to live, and what to buy?
Read the article THESLATEST/Reported Poverty Figures Questioned
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Sometimes, it's also just good or bad luck. In June, we had NO debt other than the mortgage. Everything was paid off -- even the cars. We'd even put a new roof on the house. Man, did we feel smug.
Then our daughter got sick. All those paid off credit cards -- well, they're not as paid off as they used to be. :P We're right back where we started, in fact. It didn't help that one of the paid off cars broke down. Normally that wouldn't have been an issue, but when you're shelling out thousands of dollars a month in urgently needed medical care, hey, it's an issue. Yeah, yeah, I know, savings, etc. Thing is -- we spent the savings paying down all that debt. It seemed like the responsible thing to do at the time!
She is getting better now, and she will be OK, and so will we, but where six months ago we could have survived a job loss, we're now risking our credit rating over even a missed paycheck. And while we're definitely the 99%, we know very well that we're the top 3% of them.
Short version: sometimes, s--- happens. If we'd been making 50K when this went down, even with the cards paid off, we'd be sunk, and possibly homeless, and she would still be sick.
Read the article THESLATEST/Reported Poverty Figures Questioned
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Computers are making it harder and harder for the marginally skilled to be worthwhile parts of the economy.
I do feel very bad for those people having a hard time of it, but at the same time when I have tried to hire candidates at those wage levels the quality of work you get is very very poor. Counterproductive even. Much more worthwhile to pay more to for fewer people who ouput higher quality work.
One thing to keep in mind is that someone "struggling" in the US is probably still in the top 10% worldwide and in the top sliver historically. Their lives are great by many measures. They do have a lot of financial stresses, many of which could be solved by not having children until they have more stable finances and not over-consuming their eager incomes.
Read the article THESLATEST/Reported Poverty Figures Questioned
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Perhaps they need to redefine the poverty level. My wife and I live on my Social
Security Disability which is an annual amount of just over $18,000 a year and we
live in California. We do not receive food stamps or any cash aid yet we do not
consider ourselves poor, only the government does. We are able to make ends meet
by living within our means. We do not own a car but use public transportation
(which also helps the environment), or own a flat screen TV or anything other
than a computer.
I started college in 2009 to earn a degree and am set to
graduate in 2013 with a degree in Criminology so I can get off of SSDI and start
to contribute once again. Even when I was working and making good money
according to the government I was poor, yet we had two vehicles, rented a 3 BR
house and all of our bills were paid with no assistance from the Feds. Of course
I never considered us poor so I never even knew we qualified for anything. I
grew up in the 60's and 70's with a lot less and we never considered ourselves
poor then either. Perhaps the Feds need to quit putting the ideas in everyones
head that they are "poor" and spend their energy doing something a little more
constructive instead of destructive.
Read the article USA TODAY/Census shows 1 in 2 people are poor or low-income
Partisan Divide Dooms Debt Committee
Best news I've heard all year. We need to restore tax rates to where they were 1945 to 1980 and use the money to clean up the three trillion backlog in infrastructure repairs as well as build infrastructure to create wealth for the next generation. We need the payroll tax to apply to all income, regardless of type or source, so we can fund Social Security indefinitely and increase the benefits closer to 60-70% of average lifetime income.
In short, let's get back to sensible governing doing what works based on history and facts (hint: it's not de-taxation of extreme wealth, deregulation, and wage suppression).
Read the article NEW YORK TIMES/The Deficit Deal That Wasn't: Hopes Are Dashed.
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Any agreement was doomed from the start: all the Republican members signed Norquist's pledge never to raise taxes, so no compromise was possible; there was a deadline for the agreement but there was no swift sword if agreement wasn't reached--the so-called draconian cuts would not go into effect until 2013. The Democrats only wanted to show the electorate that the Republicans would not tax the rich and the Republicans knew it was all a sham and a lot could be done in 14 months to soften the cuts on the Military. It was all a waste of time, a lot of posturing for political gains and everybody knew it...the politicians, the media and much of the informed public.
Read the article NEW YORK TIMES/The Deficit Deal That Wasn't: Hopes Are Dashed.
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I took my 12 year old son biking pass the Lincoln memorial up to CapitolHill and down to the White House. I told him that these national treasures had been built by a great society that existed until about 30 years ago but had become extinct. That while the architecture had survived the society didn't any longer. You could actually feel the corruption and greed over the majesty of the monuments.
Read the article NEW YORK TIMES/The Deficit Deal That Wasn't: Hopes Are Dashed
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It's all so abstract. You can claim all you want that a particular approach will work and another won't. What is not arguable is the results. In 30 years, the real spendable income of the average American family has decreased, the number of Americans living below the poverty line has increased, the number of Americans w/o healthcare has increased and the income of the top 2% has multiplied by 275 times.
We saw the biggest tax cuts in history (bush cuts) largely skewed toward the wealthy, but kept spending money like a drunken sailor on 2 unfunded wars and an unfunded drug program. Oh, an until Bush, the US had never, ever cut taxes during a war. Past generations who thought a situation merited war, THEY paid for it, with bond drives, public participation, and yes, a war tax. We paid for nothing while using the tax code to benefit the most blessed even more.
Obviously, its time to give what little we have left to those who need it least.
Read the article DAILY BEAST/Why the Supercommittee Flopped at Reaching a Deal to Cut the Budget
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Cut taxes, raise taxes, let the Bush tax cuts expire, extend the Bush tax cuts, cut this program, add another program, pass another stimulus, old stimulus didn't work, and so on an so forth, never ending rhetoric consisting of the same old cliched lines coming from both sides.
Obama actually thought he could ask for a "super committee" to be formed and within a four month period, be able to undo and correct the damage that it took decades to inflict on our economy and rework the tax codes so it is fair across the board for every American. Absolutely ludicrous and bordering on the insane.
Until Americans go back to work and our unemployment rate is back around the average, 4.5 to 5.5%, or at least down to 7% at a minimum, nothing is going to work. Until Americans regain some faith in the failed political system, which is still the best system in the world - it is the politicians who are screwing it up, nothing much will change and we won't move forward.
Obama, in spite of his transformational election to the highest office in the world, has failed in his leadership. There is no argument he is intelligent and pragmatic, but he is intelligent and pragmatic only on the issues he values the most. Like Bush, he has his higher priorities and to hell with everything else.
As the truth comes out more and more, even Obama's original "tingly feeling down the leg" supporters are realizing he is totally disconnected from the congress and does not interact with them the way a president should. Even with his massive shortcomings, Bush interacted with members of congress from both sides. Obama should learn a valuable lesson from Clinton on that point. Even with Clinton's libido issues, he successfully reached across the aisle and was able to work with Republicans.
We need a balance on both sides in order for our political system to work. People to suggest and bring new ideas to the table. People to look, vet, and study them. People who are willing to say no and people who are willing to say yes and people who can take both sides into consideration and come up with the best solution. It can be done.
For now, until the economy improves, and it will take the people, like the ones who bother to express their thoughts on forums like this one, agree with each other or not, to get something done. I may be a conservative but I am not a Republican or Democrat, red or blue, black or white, or any other color.
Read the article DAILY BEAST/Why the Supercommittee Flopped at Reaching a Deal to Cut the Budget
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Stop looking at averages over a presidential term, and start looking at economic
cycles. Bush inherited the dot.com recession and 9/11. He then tried a Keynesian
stimulus which, of course, failed. He then reduced marginal tax rates, and the
economy boomed. Between 2003 and 2007, GDP grew over 4%, on average, annually,
and 7 million jobs were created. Only with the accession of the Pelosi-Reid
Congress and their spending binge, and with the collapse due to decades of
accumulated bad housing policy, did the economy turn down.
But in the
cycle following the Bush reduction in marginal tax rates, the economy was
robust.
Stop averaging the good years and bad years in a presidential
term. It's a dishonest way to look at economic cycles
Read the article WALL STREET JOURNAL/Deficit effort nears collapse
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Did ANYONE actually think that the Congress would do this? This whole thing
started because they couldn't even manage to raise the debt ceiling for
appropriations bills they had already voted on! And because they couldn't do it,
we ended up getting our credit downgraded! But they were supposed to look at big
cuts to everything EXCEPT Congressional salaries and think, "Oh man, we'd better
get right on that?"
The Congress at this point is completely worthless.
We need to get rid of all 535 of them and replace them with people who are
genuinely interested in mapping out a path to a SUSTAINABLE balanced budget, and
yes, that's going to mean tax increases AND entitlement reform. And no,
Republicans, "tax increases" doesn't mean getting rid of a few deductions for
the middle class and then cutting tax rates on the wealthy by a fifth. And no,
Democrats, "tax increases" doesn't mean increasing taxes hugely so you can tack
on more stimulus spending, nor does it mean raising taxes only on the top 1%.
We need to stop with the payroll tax holidays when SS and Medicare are
already in trouble, we need to stop with the "keep cutting taxes" rhetoric when
we're at the lowest tax percentage of GDP in seventy years, we need to stop with
the putting welfare in the tax code like the EITC so we can call it "tax cuts",
we need to stop with the demonizing union workers and rich people alike. We are
all in this together and we have to start working together. United we stand,
divided we fall - doesn't anyone remember that anymore?
Read the article WALL STREET JOURNAL/Deficit effort nears collapse
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Repeal the post-JFK era explosion in bloated government public
spending.
JFK's America gave him $100B/yr, over half of which was for
defense at the peak of the Cold War.
We can fairly CPI/inflation adjust
that x 7.5, and population adjust it barely x 2.0, to $1500B/yr today, not over
$3600B/yr today. 50+ yrs of endless de-investment in future economies in order
to jack up inefficient public current spending has delivered us to where we are,
which is, with economies flat on their back.
JFK's America funded
SS.
JFK's America was building Ike's interstate highways and bridges
across the nation.
JFK's America was spending $2B/yr for ten years to go
to the Moon.
JFK's America was righting old wrongs.
JFK's America
was providing the world's best educational and economic
opportunities.
JFK's America was inspiring its youth.
JFK's
America was doing that with a federal government that spent the equivalent of
$1500B/yr today, not $3600B/yr today.
In 1966 we spent $3B/yr on
Medicare. That adjusts to about $45B/yr today, not the over ten-times that
amount we are actually spending.
And yet--and here is the truly
eye-opening fact -- if this less than super committee had reached some kind of
new 'grand compromise' and eliminated 100% of defense and 100% of Medicare, we
would still barely be halfway trimmed back from that $3.6T/yr of federal bloat
to JFK's adjusted $1.5T/yr --- even though over half of his $1.5T was for
defense!
1.2T over ten years was never serious. 2.1T per year over ten
years would have been serious. That is how far away from 'serious' this latest
DC tribal C.F. was. They will benefit from the already at rock-bottom
expectations that the nation has for DC leadership, because nobody expected the
same old same old to act like adults and fix anything.
It would be like
expecting crack addicts to successfully plan their own treatment. "Less crack"
is not going to be part of anyone's expectations for such a charade
Read the article WALL STREET JOURNAL/Deficit effort nears collapse
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I did some deep tax research on my income and spending and here is what I found.
Nearly 40% of my income is taken by the govt. -federal, social security,
medicare, real estate, automobile property tax and so on. Then nearly 8% of my
spending is taxed as sales tax or gas tax, or FCC fees/taxes for my phone lines
and so on. So this means I pay nearly 45% of my income in taxes. And I am not
among the super rich!
And this is when I live in a tax free state. With
all this being done to the incomes of most average Americans we have a gigantic
budget deficit in the govt.
God help us. Govt. is running our lives now
24x7 as are all the 24x7 political news media. All this is such a drag on the
country.
Read the article WALL STREET JOURNAL/Deficit effort nears collapse
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I wrote that imposing an illegal ad hoc committee to supplant the Congress would lead to no good end that has been proven right. Fortunately, it has not yet led to bad ends that would shut down further a stagnant economy. This legislative folly only highlights failing leadership of the legislature and executive. We need new leaders with ideas sourced in Read More...
Read the article HUFFINGTON POST/Super Committee Fails: Panel's End Run Around Democracy Fizzles
Jobs Bill for 240,000 Out-of-Work Vets from Iraq and Afghanistan
As a service member, I don't agree with this. There is NO reason in my mind why
we deserve preferential treatment for hiring. This is analogous to affirmative
action and doesn't help a society as a whole.
Furthermore, with the advent of
the Post-9/11 GI Bill, there is no reason why veterans aren't getting educated
with degrees or vocations that hire. This "new" GI Bill is a cash cow and if a
vet was smart, they banked tons of money since most of us have been deployed for
about 2-3 years out of a 4 year contract.
This is just my opinion as an insider
who knows how it really is. It's easy to "take pity" on veterans because of what
we do, but we have to remember that we choose to do this and most of us don't
want pity, we just want to be treated fairly and without being called
"baby-killers"..
Read the article NPR./ Senate OKs Bill To Boost Hiring Of Veterans
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I'd rather give this bill to the rest of America. I didn't fight for myself, I
fought for the people of this country and those under the fist of oppression
(despite what some may tell me about why I fought). I fight for the 45000
Americans who die each year from lack of health insurance as much as I fought
for all the peoples of this world killed on 9/11 and elsewhere.
When the
same people who slap a yellow ribbon on their SUV and the "Freedom Isn't Free"
sticker scream "Freedom is letting other Americans Die," and do everything in
their power to keep a certain part of the population from doing their part, I am
ashamed. When I was once thanked for "Serving in God's army against Islam," I
was outraged. That is the hatred I fought against, as did our
founders.
Talk is cheap, and until those who all too often have the
yellow ribbons on their cars start fighting FOR our fellow Americans who need it
rather than AGAINST them, I will be angry and ashamed, and your thanks means
nothing, for how can you possibly truly understand our sacrifice when doing
everything in your power to avoid yours? . IF you want to honor our sacrifice,
then make your sacrifice honorably. Till then, you don't deserve our service,
and your handshake is empty.
Read the article NPR./ Senate OKs Bill To Boost Hiring Of Veterans
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"That is not fair to civilians who are looking for jobs and lived and sacrificed
just as hard to pay for the god dang war."
For a counter-argument,
civilians have not "sacrificed" anything with these wars of the past decade.
This has not been like WWII with rationing and buying war bonds, etc. Tax rates
have dropped since the wars started, so paying more taxes is a hoax. The reality
is that only the military has suffered in this time and that's fine. Just don't
say you've suffered as part of this (unless you have a spouse or family who
served).
Read the article NPR./ Senate OKs Bill To Boost Hiring Of Veterans
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Greek Turmoil: PM Backs Down on Bailout Vote
And so it begins!
The Greek people don't seem to be much keen to go
further into austerity to pay French and German banks, so I wouldn't be
surprised if the result of this is an uncontrolled Greek default, followed by
Greece exiting the Euro and a cascade of bank failures around the
world
The question is: Will governments just bailout the banks (again) or
will the Swedish example be followed?
Read the article BBC/Greek crisis: Papandreou promises referendum on EU deal
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They know that that debt is held by big, powerful banks in Germany, France, Britain, and the US. If all those banks eat that loss at once, it will make things tough all around.
Yes, they really are too big to fail. That is why investment banking needs to be regulated enough, along with the rest of the financial industry, to prevent the big blowups.
Big, small, it doesn't really matter. If you broke up the banks, then there might be several hundred smaller banks mostly doing the same things, thus getting into trouble all at once, just like the big boys now do, and with the same consequences.
Breaking up the banks is not the answer. Properly regulating the economy to keep it away from the 'poles' in the non-linear dynamic equation that represents it is what needs to be done, just as we do when we design your stereo amplifier.
Read the article DAILY BEAST/Greek referendum spooks markets
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Greece is a red herring everybody. The smokescreen line is that this is to avoid
'contagion to Italy and Spain', well don't worry about that it's already there.
This is really about all of the failed Euro economies, as they've all failed now
due to their debt mountain except Germany. When the Euro collapses these nations
will be able to blame Greece, and the truth consigned to history.
Read the article BBC/Greek crisis: Papandreou promises referendum on EU deal
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The Franco-German axis have been whipping the Greeks like dogs, and now the
inevitable has happened. The Greeks have cried "Enough!" and are turning on
their tormentors. The Laffer tax curve shows that if you try to squeeze more out
of an economy than it can give, the revenue actually falls. The Greeks should
improve their abysmal tax collection system, not impose draconian salary cuts.
Read the article BBC/Greek crisis: Papandreou promises referendum on EU deal
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I’m having trouble understanding why Papandreou is wanting a
referendum?
Why would he not at least wait until this latest plan was given a
chance to work before taking such drastic action which is surely going to end
with the population giving him the thumbs down and forcing him out of office
with the high probability of Greece leaving the Eurozone.
Of course this could be his Grand plan, as most if not all economists worth
their salt agree that even with the banks taking a 50% haircut still leaves
Greece little chance of pulling themselves out of the depths of a financial
Gehenna for generations to come if ever at all.Papandreou may realise this and
so now he is letting the people decide their own fate.
Either way, my gut feeling is that we will wake up one morning very soon with
the news that the world financial markets having imploded upon
itself.
Structures and institutions which we once thought to be impregnable
now lay symbolically in ruins across a monetary lanscape not recognisable as it
was the day before.
While the virtual physicality of such an event unravel’s
silently on Wall street monitors, the ramifications throughout the entire world
will be breath taking, if not terrifying.
So what’s the solution?………….I don’t
believe their is one.
Read the article REUTERS/Greece faces meltdown after bailout vote bombshell
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I think this is absolutely brilliant. I was really wondering how Greek
society and government could survive all the rioting and protests which will
continue as each austerity package is passed. The results would have been the
government would fall and far right and far right parties would have won – it
seems to happen like this in Europe over and over through history. The ONLY way
for this to work is for a majority of Greeks to accept the cuts. If its forced
down their throat then it will cause more problems in 5-10 years.
The referendum will allow people to stop protesting, watch the news, form
their opinons and decide. Its a horrible choice and another horrible choice. No
– Default, lose 50% of your GDP, hyperinflation ,all savings wiped out, loss of
Euro but also probably out of EU labor and trade zone. Yes – Further job
lossses, more poverty, less services.
These are the clear choices and a NO will be the end of the Eur. A Yes vote
would be a yes to the Euro. At the end of the day this was destined to happen –
one developing southern country would hit a debt trap due to a central bank and
has to really decide if the EU project is worth the pain. This is it – its
showtime. If they vote NO – the bailout would have never worked anyway.
Read the article REUTERS/Greece faces meltdown after bailout vote bombshell
"If the Euro Fails, Europe Fails" -- German Chancellor Merkel
READ MORE COMMENTS: OCTOBER 2011
Here is the problem; there are tens of thousands of veterans coming out of the service in the next few years as we continue to wind down Iraq and eventually Afghanistan. Those veterans will need a lot of care, mental and physical. It will cost this country billions over their lifetimes. This bill is a lame effort to defray those cost, it won’t work. War spending is what has kept our economy booming since the First World War, but we end of paying for those wars long after they are over. The unfortunate part is that many of those veterans paid for our prosperity with their blood, others who UNFORTUNATELY lived through those wars will continue to pay with emotional and physical problems throughout their shortened life spans.
Read the article CNNMONEY/ Senate passes bill to help veterans