Posted on 01/27/2010 10:59:50 AM PST by Cheap_Hessian
New York, Jan 27 (IANS) The American middle class dream is fast getting out of reach for more and more people as tough economic times take toll on their incomes and quality of life, says a study by the US Commerce Department.
More than 90 percent Americans consider themselves to be middle/working class, with only one percent calling themselves 'upper class' and seven percent 'lower class', according to a 2005 survey by the New York Times.
But according to the new report titled Middle Class in America, the Americans' dream to reach the middle class is becoming increasingly difficult.
The report, prepared by the Commerce Department for Vice President Joe Biden's Middle Class Task Force, compares current incomes and living costs of the middle class with those two decades ago.
'The American dream is attainable, but if we don't attack the big problems today, whether it's health insurance, education, childcare or housing, it will be harder for more and more American families to reach the middle class,'' said Commerce Secretary Gary Locke.
(Excerpt) Read more at in.news.yahoo.com ...
I'd need to think about it, but "Health Insurance" might not even make my top 5 in expenditures. And I pay out of pocket for mine.
#1? Taxes, easily. I pay far more in income tax than I made at my first professional job. And that doesn't include gas tax, sales tax, property tax (that's huge!), city services taxes, and a bunch of other ones that I'm forgetting.
IMO, it's all about jobs - a big company has got to step up and see the devastation for American workers when we ship everything possible overseas and ignite the foreign middle class (which is akin to the American lower class in most cases). If you work for a company that doesn't outsource, they cannot compete with companies who do.
Short sighted on salaries too - love it when common wisdom says that Americans make too much money (yet look at the article above and explain how we attain 'middle class') but yet supposedly we need much more education like the people have overseas where the jobs have been shipped. Which costs Americans a lot of money - kids are graduating with major college loans. The companies don't pay the overseas people enough to buy their products and slowly but surely, we can't afford it either when we have no job (or take a cut in pay).
Can't just blame Obama for this either - Bush & most Repubs are on the same page as far as the global economy mindset.
Good luck to you - I sincerely hope your fortunes change soon.
I spent a lot of time around people like Locke. Due to their liberal idiocy, they cannot appreciate that the more gummint meddles, the more the end product/service costs.
Housing, health insurance, and childcare are indeed valuable and important. If we want to control costs, gummint needs to meddle less and let the free market work.
I agree with your comment about 2% inflation.
My parents purchased their house in the 1960s and had it paid off in about 5 years. It is a 4 bedroom ranch on about 4 acres of land. My dad also has a cabin a few miles away on 8 acres of land. My dad worked in a factory and had a very modest income. He also sent me and my twin brother to college simultaneously.
There is no way a working class blue collar Joe these days could possibly afford to do all that.
Response: Not slipping away but being taken away.
Comment: The middle class, commencing at the end of WWII, accumulated enormous wealth expressed in the form of realty and personal property such as pensions. This pool of wealth had to be taken to provide income for political supporters. In general, the taking is being accomplished through taxation,destruction of wealth producing employers, collapsing stock,realty values and 401k's etc.
Clever.
The new Demonrat mantra! Woof, woof, let granny eat dog food...spoof on 'let them eat cake'. obama's war on seniors
See the links in post 43-46 and on the last page.
Expanding support for families balancing work with caring for elderly relatives with a $102.5 million Caregiver Initiative adding $52.5 million in funding to Department of Health and Human Services caregiver support programs that provide temporary respite care, counseling, training, and referrals to critical services. The administration says the extra funding will allow nearly 200,000 additional caregivers to be served and 3 million more hours of respite care to be provided. It also adds $50 million to programs that provide transportation help, adult day care, and in-home services, such as aides to help seniors bathe and cook, help which eases the burden for family members and helps seniors stay in their homes.
http://motherjones.com/mojo/2010/01/obama-puts-social-security-chopping-block
There is a lot more economic trouble and agony out there than we are seeing—courtesy of our Dear Leader’s Media.
This is inexcusable in the USA. We know who is to blame and they MUST be held accountable.
This is what they want, you know. I mean, if you hate capitalism and wealth, then what is the alternative?
That’s me giving these communist bastards the benefit of the doubt. That’s me doing my best to avoid sounding like an alarmist.
Having said that...
I will add that the time for us to resist with everything we have might be just after some big event. One big “terrorist attack”, for example, and these power mongers might get all they need to end our way of life, forever. Don’t let it surprise you.
“American middle class dream is slipping away”
No, it’s been shipped away. Off-shored. Out-sourced.
Our loss of manufacturing is the loss of our middle class. Textiles, steel, electronics, cars & parts, produce, etc., etc., etc. And it’s been shipped away by business leaders. The reasons are many, including excessive taxation and regulation, but it is they that sent the work away.
sw
The “middle class” is a very recent and unique thing.
In the past there was those who had wealth, and those who were slaves.
That’s a good point. I guess inflation does compound.
hide income...cheat on taxes...fudge numbers....apply for govt disability early and lie if you have too.....the zero govt gives the real workers no choice but to become dishonest...
I think it’s time for a government shut down, like what happened when Clinton and Monica hooked up.
Maybe if we’re lucky, Barack and Rahm will get caught in the act! ;^)
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