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Indy
Super Administrator
Posts: 4136
Registered: 6/24/2004
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Points: 79820
Mood: Resident Skeptic
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Middle Class Takes A Beating
It used to be that if you worked harder you'd be rewarded for your efforts. If you believed the political water cooler talk that would be the case with the Republicans in control. Those evil Democrats would just tax you to death. They may very well tax you to death but I'd love to hear some good spin on this story.
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For most of the past decade, the economy grew much stronger - but middle-class Americans had little to show for it.
| | Click source url to view entire story. |
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But inflation-adjusted income for the American middle-class family actually fell during the same period. The median real income for working-age middle-income families in the United States dropped $2,000 between 2000 and 2007, from about $58,500 to $56,500, the U.S. Census Bureau reported Tuesday.
| | Click source url to view entire story. |
Source URL: http://money.cnn.com/2008/08...x.htm?postversion=2008082806
Productivity rose but the middle class saw less real money for their efforts. But you want to talk about some pretty damaging information when it comes to this administration this next quote from the same source says it all.
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As a result, the 2000-2007 business cycle was the first ever in which the nation's middle-class families had less real income at the end than when they started.
| | Click source url to view entire story. |
That is just really sad. Any comments on this?
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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ghoster
Member
Posts: 127
Registered: 6/18/2007
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Points: 1270
Mood: Vacillating between complete panic and blissful acceptance
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If you listen to the fiscal conservatives, ie; Ron Raygun, Bush 1, Bush the minor, we have a functioning economy, and the low life liberals that left the white house with a surplus, whether real or imagined are the scoundrels, pretty much confirms that opposite is what they speak.
Believing any politician and taking them at their word is really not bright and at worst can cost you big bucks in the long run. Of course, if all you want to do is believe that voting republican will result in your personal income increasing, then by all means continue to vote against your own best interests. All and not most of them are crooks and wealthy beyond the mere well off. If we started off with a national day of no government and see how that went, the we could increase it to two days, then four, then in a short time we could see how useless they really are.
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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posted on 8/28/2008 at 05:25
