Post by TsarSamuil on Dec 11, 2015 21:08:27 GMT -5
Middle class now the minority in US - report.
RT.com 10 Dec, 2015 20:26
The American middle class has been shrinking for the last four decades, and middle-income households no longer make up the majority, according to a new study blaming the Great Recession.
"The hollowing of the middle has proceeded steadily for the past four decades,"a report by the Pew Research Center noted.
In early 2015, 120.8 million American adults ‒ or 50 percent ‒ were in middle-income households, compared with 121.3 million in lower- and upper-income households combined, the study found. That’s down from 61 percent in 1971.
Who is “middle income” and “upper income”?
The middle class, according to Pew, includes households “with an income that is 67 percent to 200 percent (two-thirds to double) of the overall median household income, after incomes have been adjusted for household size.”
The good news is that more households ‒ 21 percent ‒ are now part of the upper-income bracket, up from 14 percent in 1971, and that’s a bigger increase than those households that are now part of the lower-income bracket, which jumped from one-quarter of households in 1971 to 29 percent today.
The bad news is that household incomes fell overall from 2000 to 2014 because of the recession in 2001 and the Great Recession of 2007-09, with the greatest loss felt by lower-income households, which fell 9 percent during that time. The median for middle-income households fell 4 percent, while the median upper-income households fell 3 percent.
Breaking down the numbers into demographics, Americans who are of retirement age (65 and older) and African-Americans have made “notable progress” in moving up the income tiers, although they both remain overrepresented as lower-income households. Those without a college degree fared the worst, and thus “stand out as experiencing a substantial loss in economic status since 1971,” Pew noted. Young adults (ages 18 to 29) and Hispanics also took economic hits of 5.4 percent and 7.9 percent, respectively, over the decades.
Older people, married couples and black adults improved their income status more than other groups from 1971 to 2015 Americans are now less likely to see themselves as what Ronald Wright deemed “temporarily embarrassed millionaires” and more likely to describe themselves as lower or working class, an April Gallup poll found. The survey discovered that 51 percent of Americans said they were middle class or upper-middle class ‒ down from more than 60 percent in 2008 ‒ while 48 percent said they were lower class or working class.
“Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.”
― Ronald Wright, A Short History of Progress
Middle-class jobs are not growing the same way that they are for those in the upper class, according to an August study by Georgetown University's Center on Education and the Workforce. There are one million more jobs that rank in the top third of income-generating occupations, while there are 900,000 fewer jobs in the middle third, compared with pre-recession levels. Incomes in the upper class have grown 47 percent from 1971 to today, Pew found.
That gain in wealth and size for upper-income households has also led to middle-income households having a lower share of the US aggregate household income, which plunged from 62 percent in 1970 to 43 percent in 2014. In 1983, those in the top income tier held three times as much wealth as those in the middle tier. By 2013, the wealth gap had doubled, with the upper tier holding seven times as much wealth as middle-income households, according to Pew.
The wealth gap between upper- and middle-income families is growing Those in the lower and middle classes are also finding their incomes aren’t stretching as far as they used to. Housing costs have risen ‒ 3.5 percent annually for renters ‒ with increased demand, as 9 million more people are leasing than a decade ago and homeownership is at the lowest level in half a century. Of the 43 million households who rent, one in five are considered “cost-burdened” ‒ spending more than 30 percent of their income on housing ‒ and more than a quarter are “severely cost-burdened” ‒ spending more than half their income on rent ‒ according to a report by the Harvard Joint Center for Housing Studies published on Wednesday.
Post by TsarSamuil on Dec 12, 2015 13:02:13 GMT -5
[OFF THE GRID] Jesse asks audience – what do you think these donations to candidates are?
RT America Dec 11, 2015
Truckloads of money go to them to influence their deicisions on the laws (Jesse outright calls politicians “prostitutes”). Bribery is alive and well in the public sector, even though they claim that it is against the law in private sector.
The United States federal debt has surpassed $19 trillion for the first time in history according to the Treasury Department. However, the real figure could exceed $65 trillion, according to a former US Comptroller General.
The official debt of $19 trillion represents almost $60,000 for every man, woman and child living in America today.
President Barack Obama took office with $10.8 trillion debt that has grown more than $8 trillion in seven years. And such a record tempo is likely to continue, according to the Congressional Budget Office, quoted by the Washington Times.
This equals an additional $70,000 in net federal borrowing for each of the 117,480,000 American households, according to Census Bureau estimates.
About $13.7 trillion makes up public debt, and the rest comes from government borrowing.
The US currently functions without a debt ceiling. Legislation in November suspended it through March 2017 so borrowing can continue without a limit until that time.
According to former Comptroller General of the United States [the director of the Government Accountability Office] David Walker, analysts understate the real extent of the US government’s financial commitments, which in reality exceed $65 trillion.
“You have to consider not just the public debt; you have to consider the debt we owe to the Social Security and Medicare trust funds, as well as the huge unfunded obligations for our social insurance programs. When you add all those numbers up, the number is over $65 trillion, rather than the lower numbers a lot of the economists want to talk about,” Walker, who served as the US’ top accountant in 1998-2008, told RT.
Post by TsarSamuil on Mar 17, 2016 14:19:05 GMT -5
Геннадий 5 hours ago (edited) +Surroundedby kief What does this news have to do with racism? Gypsies attempted to illegally cut into the natural gas pipeline underground, which caused an accident and water went into the pipes. 400 houses left without gas. When workers from the gas company attempted to fix the lines, the gypsies attacked them with sticks rocks etc. Revolting because they are not getting free gas. Dirty freeloaders. They should be happy noone is in jail yet for their illegal activities. At 0:53 the woman is bitching about her "poor children who are going hungry" while she is wearing a mink fur coat...
Russia: Riot police clash with Roma protesting gas lines in Tula.
Ruptly TV Mar 17, 2016
A stand-off between the police and utility workers against members of the Roma community took place in Plekhanovo, Tula, on Thursday. Violence broke the day before as Roma tried to sabotage repairs to the gas lines.
TsarSamuil: A guy keeps spamming casino links every day, I have to ban him constantly, I wonder what his post count would be otherwise, approaching mine?
Jan 10, 2020 14:27:01 GMT -5
Borrka: Anybody here? Where are the old regulars!?
Mar 15, 2020 10:48:19 GMT -5
Deleted: On FB, Twitter, Instagram, TikTok etc.
Apr 19, 2020 4:29:09 GMT -5
gioblack94: Hello,I'm the representative of the Bulgarians and the main coordinator of Bulgaria of a movement called:"The slavic movement".Our mission is to create a slavic union and we welcome everybody who wants to join our cause:https://discord.gg/gMh2Zm
May 18, 2020 9:10:02 GMT -5
WhiteGaysack: And what do you think OUR mission is since 2004?
Jun 5, 2020 14:56:11 GMT -5
WC: Tsar, habe you lost interest? Kudos that you continued posting all the years.
Jun 20, 2020 3:10:01 GMT -5
WC: Nikolov, wuz up?
Jun 28, 2020 13:54:49 GMT -5
TheChornyvolk: Borka, I still fuck your mother.
Jul 15, 2020 14:52:53 GMT -5
Raskolnikov: A thread about the racial movements currently happening in the west would be interesting. Is this forum alive enough to create a topic about it?
Jul 20, 2020 9:57:24 GMT -5
TheChornyvolk: No. But you can lick my ass, instead.
Jul 24, 2020 2:37:47 GMT -5
Raskolnikov: And get an STD? no way
Aug 5, 2020 11:06:27 GMT -5
Raskolnikov: I changed my opinion. Now I want!
Aug 9, 2020 15:46:12 GMT -5
White Cossack: WTF is going on here? That's Slavija, not Spermia.
Aug 30, 2020 13:48:17 GMT -5