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strngrnrth
Guest
I think so. I consider most Americans rich. Of course, i read a lot of history.
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R
Ridgerunner
Guest
I have not seen a well-sourced demonstration that the percentage of poor in the U.S. is actually increasing. It would be interesting to actually see some evidence of it, broken down by who those people are and why they are poor.
If nothing else, one has to remember that there are several million undocumented workers who work in the “shadow economy”; often are paid very low wages, but pay no taxes. Many are young, single men who live in barracks-like conditions and send most of their incomes out of the country.
Because of the prior “amnesty” for illegals, there are a great number of workers who cannot speak English effectively or at all. That inability affects income potential significantly.
Also, one needs to remember that the population is aging. A retired couple who own their own home free and clear, are in good health, have adequate furnishings that are not beaten to pieces by children, have no children to support and have low mileage vehicles that are paid for and low gasoline expenses, and which have money in the bank, can live much better on a given amount of income than a working couple with a mortgage, car payments, school expenses, massively greater expenses for clothing, food and incidentals, and a mountain of debt.
For that reason, one would have to know a great deal more than to simply know that “X” number of people are making “X” number of dollars, in order to know whether the number of “poor people” in the country is increasing, decreasing or remaining the same.
We have not yet seen an analysis adequate to persuade that the number of “poor people” in the U.S. is actually increasing. The premise of the thread is, so far, without foundation.
Personally, I doubt it. I don’t see all of the working people all over the country, but where I live, the prosperity level has been on a constant increase for years. That, of course, could simply be due to increaes in opportunity, both for enhancing income and in acquiring productive assets.
Finally, I could mention that not all jobs that move, move to foreign countries. In this part of the country, we have acquired a good number of jobs that came from some other place in the U.S.
If nothing else, one has to remember that there are several million undocumented workers who work in the “shadow economy”; often are paid very low wages, but pay no taxes. Many are young, single men who live in barracks-like conditions and send most of their incomes out of the country.
Because of the prior “amnesty” for illegals, there are a great number of workers who cannot speak English effectively or at all. That inability affects income potential significantly.
Also, one needs to remember that the population is aging. A retired couple who own their own home free and clear, are in good health, have adequate furnishings that are not beaten to pieces by children, have no children to support and have low mileage vehicles that are paid for and low gasoline expenses, and which have money in the bank, can live much better on a given amount of income than a working couple with a mortgage, car payments, school expenses, massively greater expenses for clothing, food and incidentals, and a mountain of debt.
For that reason, one would have to know a great deal more than to simply know that “X” number of people are making “X” number of dollars, in order to know whether the number of “poor people” in the country is increasing, decreasing or remaining the same.
We have not yet seen an analysis adequate to persuade that the number of “poor people” in the U.S. is actually increasing. The premise of the thread is, so far, without foundation.
Personally, I doubt it. I don’t see all of the working people all over the country, but where I live, the prosperity level has been on a constant increase for years. That, of course, could simply be due to increaes in opportunity, both for enhancing income and in acquiring productive assets.
Finally, I could mention that not all jobs that move, move to foreign countries. In this part of the country, we have acquired a good number of jobs that came from some other place in the U.S.
M
markomalley
Guest
Again, I ask what the reality is on this. Yes, inflation as eaten away…but very little all in all.
According to Bureau of labor statistics, the average production and nonsupervisory work weekly wage was 448.56 in 1999 and is 589.78 per week in 2007. (Please note that those numbers are only for nonsupervisory work…excessive CEO salaries are not a factor here, so don’t say it)
Adjusting for inflation, the 2007 wages would be 447.55 per week. Less, but hardly a crisis. (In fact, they were up until gas prices shot inflation out the roof in 2005).
What DID change in the last 8 years was that credit card debt went out the roof and a lot of people bought homes that were far more lavish than what they can afford. Now that the introductory interest rates are expiring, their costs are going out the roof…perhaps to the point of causing them to walk away from their houses.
According to Bureau of labor statistics, the average production and nonsupervisory work weekly wage was 448.56 in 1999 and is 589.78 per week in 2007. (Please note that those numbers are only for nonsupervisory work…excessive CEO salaries are not a factor here, so don’t say it)
Adjusting for inflation, the 2007 wages would be 447.55 per week. Less, but hardly a crisis. (In fact, they were up until gas prices shot inflation out the roof in 2005).
What DID change in the last 8 years was that credit card debt went out the roof and a lot of people bought homes that were far more lavish than what they can afford. Now that the introductory interest rates are expiring, their costs are going out the roof…perhaps to the point of causing them to walk away from their houses.
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Wedgewood
Guest
Inflation numbers do not include food and energy (gas, electric…)
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bilop
Guest
Yes they do. There is “core” CPI inflation, which excludes these things, b/c they are very volatile month to month and quarter to quarter, and general CPI which includes food and energy. The GDP deflator, which is generally used for long term inflation, also includes food and energy.
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Yerusalyim
Guest
The number of poor is decreasing though it does fluxuate. In 2004 the poverty rate (by family) was 10.2%, in 2006 9.8%.
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