Keyword: middleclass

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  • ISIS militant ‘Jihadi John’ unmasked as middle-class Brit

    02/26/2015 6:12:09 AM PST · by KeyLargo · 36 replies
    NY Post ^ | 2-26-2015 | Yaron Steinbuch
    ISIS militant ‘Jihadi John’ unmasked as middle-class Brit By Yaron Steinbuch February 26, 2015 | 7:16am The infamous masked ISIS madman seen in gruesome videos beheading Western hostages was identified by media outlets Thursday as Mohammed Emwazi — a middle-class Briton with a degree in computer programming. The BBC reported that the Kuwaiti-born Emwazi is in his mid-20s and from West London. British authorities chose not to identify him earlier for operational reasons. “I have no doubt that Mohammed is Jihadi John,” one of Emwazi’s close friends told the Washington Post. “He was like a brother to me. . . . I...
  • Guess Who Said 'Decline of Middle Class Tied to Decline of Unions'

    02/25/2015 6:42:25 AM PST · by governsleastgovernsbest · 23 replies
    NewsBusters ^ | Mark Finkelstein
    Who said: "I've always believed the decline of the middle class could be tied to the decline of unions. And when you have 7%, 8% of the work force in unions, when you have CEO pay going up to record heights, you're going to have a hollowing out of the middle class." Was it a. Elizabeth Warren; b. Robert Reich; or c. Ed Schultz? Correct answer: d. None of the above. It was Joe Scarborough on today's Morning Joe. Scarborough prefaced his lament over the decline of unions by saying "It's been well-documented on Twitter: I'm a right-wing Republican stooge."...
  • Middle Class Fleecing with Obamacare

    02/19/2015 9:15:01 AM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 02/19/15 | Dr. Ileana Johnson Paugh
    The law has been written by liberals for liberals, to benefit their Democrat voting constituents to the detriment of everyone else It is becoming increasingly difficult for Virginians to find doctors and secure appointments in a timely manner thanks to Obamacare. After a fierce battle, the bills meant to create state exchanges and to expand Medicaid have died in the House and in the Senate. However, Democrat Governor McAuliffe added Medicaid expansion to his budget amendment. The House removed that language from the budget. As millions of Americans, who previously had insurance and doctors they were satisfied with and wanted...
  • Economic Optimism Index Dives Among Middle Class: Poll

    02/10/2015 7:34:22 AM PST · by IBD editorial writer · 12 replies
    Investor's Business Daily ^ | 02/10/2015 | John Merline
    Just weeks after President Obama proclaimed that America had turned the corner and his "middle class economics" was working, the public is more pessimistic than they've been in months, and few think Obama's policies have significantly helped the middle class, the latest IBD/TIPP poll finds.
  • [Jeb] Bush touting conservative policies to aid middle class

    02/04/2015 11:59:10 AM PST · by Olog-hai · 25 replies
    Associated Press ^ | Feb 4, 2015 2:08 PM EST | Thomas Beaumont
    Former Florida Gov. Jeb Bush is to deliver what aides call an “optimistic, conservative vision for the future” in his first unpaid speech since declaring his interest in a bid for the 2016 Republican presidential nomination. […] Wednesday’s speech is the first in a series of stops his aides call his “Right to Rise” tour, borrowing from his economic mantra and the name of the political action committee he formed in December. Bush’s speech, aides said, is aimed at underscoring his desire to reinvigorate the middle class, which he argues has languished despite the ongoing economic recovery. Conservative economic policies,...
  • Independent analysis finds Obama´s ´middle-class´ tax cuts won´t help three-quarters of

    02/02/2015 5:15:04 PM PST · by Nachum · 19 replies
    Associated Press ^ | 2/2/2015 | Staff
    President Barack Obama calls his tax and spending plan ´middle-class economics,´ but most middle-income families would see little change in their tax bills. Obama is proposing a total of $1.5 trillion in new taxes over the next decade, mostly on corporations and high-income households. He would use much of that money--nearly $280 billion--to pay for targeted tax breaks for low- and middle-income families. Obama´s proposed tax cuts would benefit households with two wage earners, families with young children in child care and those with older children in college. One proposal would automatically enroll workers in individual retirement accounts, unless they
  • 5 Ways the Middle Class Is Getting Screwed

    02/01/2015 5:24:27 AM PST · by Kaslin · 28 replies
    Townhall.com ^ | February 1, 2015 | John Hawkins
    When Democrats talk about middle class Americans, they almost inevitably use them as a cudgel to attack the rich. On the other hand, bizarrely, Republicans seem to spend much more time defending the rich from attacks by the Left than talking about what they’re going to do to help the middle class. That’s unfortunate because middle class Americans are the backbone of the country; yet their interests always seem to take a backseat to those of the wealthy, the poor and the naked self-interest of BOTH political parties. There’s nothing wrong with giving the poor a hand-up or making sure...
  • Middle-class manufacturing jobs? Not in California

    01/31/2015 11:39:49 PM PST · by 2ndDivisionVet · 20 replies
    The San Diego Union-Tribune ^ | January 24, 2015 | The Editorial Board
    It took far too long, but finally many state politicians are taking seriously Census Bureau reports that California is ground zero for American poverty. Once the high cost of living is factored in, the Golden State moves from the middle of the pack nationally to a clear number one, with nearly one-quarter of residents in a constant struggle to make ends meet. But with this harsh fact finally internalized, when will state leaders come to the parallel realization that having among the nation’s highest energy and real estate costs is also bad for the economy — and for job-seekers without...
  • Middle Class Shrinks Further as More Fall Out Instead of Climbing Up [Obamanomics]

    01/26/2015 6:17:42 AM PST · by SoFloFreeper · 15 replies
    NY TIMES ^ | 1/25/15 | DIONNE SEARCEY and ROBERT GEBELOFF
    .....it is clear that millions are struggling to hang on to accouterments that most experts consider essential to a middle-class life..... Lisa Land, 49, is one of those who have dropped through the hatch. She gets by on her father’s $1,300 monthly Social Security checks and by having her adult daughter pitch in for groceries. Her circumstances are a stark change from just a few years ago, when she considered herself firmly in the middle class. Despite a relatively modest salary, her pay and other resources went a long way in tiny Eden, N.C., where she worked for 13 years...
  • Middle Class Shrinks Further as More Fall Out Instead of Climbing Up

    01/26/2015 5:24:39 AM PST · by Theoria · 29 replies
    The New York Times ^ | 25 Jan 2015 | DIONNE SEARCEY and ROBERT GEBELOFF
    The middle class that President Obama identified in his State of the Union speech last week as the foundation of the American economy has been shrinking for almost half a century.In the late 1960s, more than half of the households in the United States were squarely in the middle, earning, in today’s dollars, $35,000 to $100,000 a year. Few people noticed or cared as the size of that group began to fall, because the shift was primarily caused by more Americans climbing the economic ladder into upper-income brackets.But since 2000, the middle-class share of households has continued to narrow, the...
  • 27 Facts That Show How The Middle Class Has Fared Under 6 Years Of Barack Obama

    01/19/2015 7:43:40 PM PST · by SeekAndFind · 31 replies
    The Economic Collapse Blog ^ | January 18, 2015 | Michael Snyder, on January 18th, 2015
    During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families. Of course he has also promised to do this during all of his other State of the Union addresses, but apparently he still believes that there are people out there that are buying what he is selling. Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner. And yet things just continue to get even worse for the middle...
  • Obama Wants The Death Tax Increased to 60 Percent, More Taxes on College Savings

    01/19/2015 12:21:35 PM PST · by Nachum · 71 replies
    townhall.com ^ | 1/19/15 | Katie Pavlich
    As the old saying goes, there are two things that are certain in life, death and taxes. Tomorrow night during his 2015 State of the Union speech, President Obama will announce that people paying taxes their entire lives just isn't good enough. The President wants the current 40 percent death tax rate increased to 60 percent. Americans for Tax Reform breaks down the details: 2. Stealth increase in the death tax rate from 40% to nearly 60%. Under current law, when you inherit an asset your basis in the asset is the higher of the fair market value at the...
  • Middle class decline looms over final years of Obama presidency

    01/18/2015 11:45:39 AM PST · by SkyPilot · 78 replies
    Reuters and Yahoo News ^ | 18 Jan 15 | Howard Schneider
    Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue. The revival of middle-class jobs has been one of Obama's mantras since he took office in 2009 fighting the worst economic crisis in generations. It was a major theme of his last State of the Union address and is expected to feature in the one scheduled for Tuesday. Administration officials said on Saturday the president would propose higher capital gains taxes, new fees on large financial firms,...
  • Obama Seeks To Reduce Middle Class Taxes, Close Loopholes For Wealthy [ To Propose this in SOTU ]

    01/18/2015 11:31:25 AM PST · by SeekAndFind · 71 replies
    The Uptake ^ | 01/18/2015 | By: MICHAEL MCINTEE
    In his State of The Union address this week, President Obama will propose congress lower taxes on the middle class and close loopholes that the rich often use. A press release from the White House says Obama has a strategy that will “simplify our complex tax code, make it fairer by eliminating some of the biggest loopholes, and use the savings to responsibly pay for the investments we need to help middle class families get ahead and grow the economy.”According to a release from the White House Press Secretary, the changes President Obama will propose include: Closing One of the...
  • Obama’s address to pitch tax proposals to help middle class

    01/18/2015 9:28:00 AM PST · by Olog-hai · 21 replies
    Associated Press ^ | Jan 18, 2015 11:16 AM EST | Julie Pace
    President Barack Obama is turning to his biggest television audience of the year to pitch tax increases on the wealthiest Americans and put the new Republican Congress in the position of defending top income earners over the middle class. As Obama continues to signal what he will propose during Tuesday's State of the Union address, senior administration officials said during the weekend that he will call for raising the capital gains rate on top income earners and eliminating a tax break on inheritances. The revenue generated by those changes would fund new tax credits and other cost-saving measures for middle-class...
  • Americans don't want a revolution despite Elizabeth Warren's sounds of alarm for the middle class

    01/11/2015 4:42:11 PM PST · by 2ndDivisionVet · 51 replies
    The London Telegraph ^ | January 11, 2015 | Peter Foster in Washington
    Ideological splits among Republicans have been part of the fun of the American political fair for more than 50 years now, but what of potential divisions on the Left? When Barack Obama departs the White House in 2016, the question already being asked is whether Democrats will now suffer the same kind of upheaval that the Tea Party inflicted on Republicans after George W. Bush left office in 2008. Last week in Washington DC it was possible to hear the opening shots of what some left-wing Democrats hope will become a similarly fierce fight for the ideological soul of their...
  • Victor Davis Hanson: Liberalism has lost working class

    01/09/2015 3:40:15 PM PST · by 2ndDivisionVet · 28 replies
    The Albuquerque Journal ^ | January 9, 2015 | Victor Davis Hanson
    Democrats for over a century were associated with the American middle class. Working-class voters once believed that Democratic-inspired intervention into the economy – minimum-wage laws, overtime pay, Social Security, Medicare, workers’ compensation – protected their interests better than unfettered free-market capitalism. Republicans often had trouble selling the argument that an unleashed economy and new technology would relegate poverty to a relative, not absolute, condition – something like suffering with a cheap outdated iPhone 4 while the better-off afforded an iPhone 6. Why, then, have Democrats lost the working class – especially white, lower-middle-class voters? There are several obvious reasons. For...
  • Elizabeth Warren Says Economy Is Rigged Against Middle Class

    01/09/2015 5:06:35 AM PST · by IBD editorial writer · 56 replies
    Investor's Business Daily ^ | 01/08/2015 | John Merline
    Is the economy rigged against the middle class? The Democratic left's dream candidate -- Sen. Elizabeth Warren -- thinks so. "I see evidence everywhere of the pounding working people are taking," Warren said on Wednesday at an AFL-CIO summit on raising wages. "These families are working harder than ever, but they can't get ahead. Many feel that the game is rigged against them, and they are right. The game is rigged against them." Her argument, of course, is that the government must intervene to level the playing field. But Warren must not be looking very hard if she can't see...
  • Have Liberals Lost the Middle Class?

    01/07/2015 8:50:09 AM PST · by Kaslin · 28 replies
    Townhall.com ^ | January 7, 2015 | Victor Davis Hanson
    Democrats for over a century were associated with the American middle class. Working-class voters once believed that Democratic-inspired intervention into the economy -- minimum-wage laws, overtime pay, Social Security, Medicare, workers' compensation -- protected their interests better than unfettered free-market capitalism. Republicans often had trouble selling the argument that an unleashed economy and new technology would relegate poverty to a relative, not absolute, condition -- something like suffering with a cheap outdated iPhone 4 while the better-off afforded an iPhone 6. Why, then, have Democrats lost the working class -- especially white, lower-middle-class voters? There are several obvious reasons.
  • The Obama Economic Record is Even Worse than You Realize

    01/06/2015 8:26:59 AM PST · by george76 · 20 replies
    American Thinker ^ | January 5, 2015 | Chad Stafko
    Six years ago this month, America cast its lot toward a young, first-term U.S. Senator from Illinois to lead the greatest nation in the world. His mesmerizing words and bold promises drew folks in by the millions. However, unless you're a bleeding heart liberal, you realize the social experiment of electing an unqualified, former professional antagonizer has been an economic disaster. The quantitative evidence, and it abundant, is overwhelming and ever-growing. ... In 2007, the average household income in America was $55,627. In 2014, that figure had slipped to $53,880 -- Americans earned less on average than they did seven...
  • Dilemma over deductibles: Costs crippling middle class [Obamacare hurts middle class] [link only]

    01/05/2015 6:36:09 AM PST · by grundle · 20 replies
    USA Today [link only] | Janaury 1, 2015 | Laura Ungar and Jayne O'Donnell
    link only: http://www.usatoday.com/longform/news/nation/2015/01/01/middle-class-workers-struggle-to-pay-for-care-despite-insurance/19841235/
  • The Destruction Of The Middle Class Is Nearing The Final Stages

    12/24/2014 3:11:54 PM PST · by dontreadthis · 112 replies
    zerohedge.com ^ | 12/23/2014 | Tyler Durden
    The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed. At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that...
  • Obama administration: ‘Year of action’ a success

    12/22/2014 2:36:46 PM PST · by Oldeconomybuyer · 16 replies
    The Washington Times ^ | December 22, 2014 | by Dave Boyer
    Two top aides to President Obama hailed his “year of action” as a success Monday, saying the president took more than 80 executive actions without Congress to help the middle class. National Economic Council Director Jeffrey Zients and Domestic Policy Council Director Cecilia Munoz said in a blog post that Mr. Obama will try to work the the new Republican Congress next year, but will also “continue to use every authority available to make progress through executive actions” in 2015.
  • Why Middle-Class Wealth Is Withering [Alinsky At Work: Destroy The Middle-Class and Destroy America]

    12/13/2014 10:16:14 AM PST · by Steelfish · 20 replies
    CBSNews ^ | December 13, 2013 | AIMEE PICCHI
    By AIMEE PICCHI December 12, 2014 Why Middle-Class Wealth Is Withering If the middle class is truly the backbone of America, the country's spine may be close to breaking. Middle America came out of the Great Recession in a precarious position, sinking into "dissavings" -- when spending is greater than income -- thanks to a nasty combination of stagnant wages and a hit to real estate and investment values, according to a new working paper from New York University economics professor Edward N. Wolff. That's led to a grim outcome, with virtually no change in the country's median wealth between...
  • Chuck Schumer, Hypocrite

    11/27/2014 1:50:23 PM PST · by ObamahatesPACoal · 12 replies
    Daily Caller ^ | Mickey Kaus
    In a satisfying moment of intramural recrimination this week, Sen. Charles Schumer of New York pointedly second-guessed President Obama’s decision to push sweeping health care legislation in 2010, when Americans were more concerned with the state of the economy and their economic futures. (SNIP) Even if you don’t think (as I do) that the “gang” bill would actually hurt the economic fortunes of many middle class Americans by importing competing, cheaper workers to bid down their salaries, it was hardly the sort of economic fix Schumer says the middle class was demanding. Even more than Obamacare, it failed to give...
  • Biden: Middle Class Label Not a Compliment in DC, ‘It Means You’re Not Sophisticated’

    11/12/2014 7:27:34 PM PST · by Nachum · 47 replies
    free beacon ^ | 11/12/14 | staff
    Vice President Joe Biden said Wednesday that people in Washington don’t think it’s a good thing to be labeled as middle class. Speaking at the American Association of Port Authorities convention in Houston, Biden reminded attendees of his nickname, “Middle-Class Joe.” “In Washington, that’s not meant as a compliment–it means you’re not sophisticated,” Biden said.
  • What an Intact Family Has to Do with the American Dream, in Six Charts

    The standard portrayals of economic life for ordinary Americans and their families paint a bleak picture of stagnancy, rising economic inequality, joblessness, and low levels of economic mobility. From President Barack Obama’s speech last year at the Center for American Progress to Fed chairman Janet Yellen’s address this month in Boston, we’re getting the picture that the American Dream looks to be in bad shape. These portrayals contain an important germ of truth — today’s economy isn’t doing ordinary Americans many favors — but what is largely missing from the public conversation about economics in America is an honest...
  • Biden admits middle class left behind by Obama policies

    10/28/2014 7:48:36 AM PDT · by george76 · 9 replies
    American Thinker ^ | October 28, 2014 | Thomas Lifson
    Good ol’ Joe once again blurts out the awkward truth, while trying to be helpful to Democrat Senate candidate in Iowa, Bruce Braley (known to Michelle Obama as Bruce Bailey). .... you know the truth: The middle class is still in trouble,” Biden said. “You don’t have to know the numbers, you can feel it. You can feel it in your bones.” Biden’s lamentation failed to inspire any hope or energy among the crowd at Braley’s rally. Instead, the vice president’s words hun[g] in the air as he pointed out that all the positive economic numbers the Obama administration touts...
  • This Is About As Good As Things Are Going To Get For The Middle Class – And It’s Not That Good

    09/23/2014 2:18:56 PM PDT · by blam · 19 replies
    TEC ^ | 9-23-2014 | Michael Snyder
    By Michael Snyder September 22nd, 2014 U.S. economy has had six full years to bounce back since the financial collapse of 2008, and it simply has not happened. Median household income has declined substantially since then, total household wealth for middle class families is way down, the percentage of the population that is employed is still about where it was at the end of the last recession, and the number of Americans that are dependent on the government has absolutely exploded. Even those that claim that the economy is "recovering" admit that we are not even close to where we...
  • The American Middle Class Hasn’t Gotten A Raise In 15 Years

    09/22/2014 8:29:16 PM PDT · by Theoria · 30 replies
    Five Thirty Eight ^ | 22 Sept 2014 | Ben Casselman
    In 1988, the typical American adult was 40 years old, white and married, with a high school diploma. If he was a man, he probably worked full time. If she was a woman, she probably didn’t.Twenty-five years later, Americans are older, more diverse and more educated. We are less likely to be married and more likely to live alone. Work is divided more evenly between the sexes. One thing that hasn’t changed? The income of the median U.S. household is still just under $52,000.The government’s release last week of income and poverty data for 2013 brought renewed attention to the...
  • Liberals Declare War on Working Poor

    08/23/2014 7:08:18 AM PDT · by Kaslin · 18 replies
    Townhall.com ^ | August 23, 2014 | Michael Schaus
    The misguided attempt to increase the minimum wage can almost be passed off as institutionalized economic illiteracy. Many people, however, have argued that it’s more than simple ignorance that drives the Left to ignore fiscal sanity and push for a $15 per hour burger-flipping wage. Well, if the latest attempt to institute mandated-minimum-pay illustrates anything, it shows that the Left isn’t that fond of the effort/reward relationship of hard work. Labor groups are now aiming to snuff out the system of tipping servers because… well… because it’s “unfair”.There is a movement to bump the minimum wage for tipped servers (often...
  • 30 Facts That Prove The American Middle-Class Is Being Destroyed

    08/21/2014 8:10:45 PM PDT · by Nachum · 25 replies
    zero hedge ^ | 8/21/14 | tyler durden
    Submitted by Michael Snyder of The Economic Collapse blog, The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically destroyed. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a staggering pace. Yes, the stock market has soared to unprecedented heights this year and there are a few isolated areas of the country that are doing rather well for the moment. But overall, the long-term trends that...
  • Senate Democrats vs. the Middle Class [Obama's "recovery" has hurt blacks, women, and the poor]

    08/18/2014 1:15:13 AM PDT · by grundle · 5 replies
    Wall St. Journal ^ | August 17, 2014 | Phil Gramm And Michael Solon
    If the Obama recovery had been as strong as the average of the previous 10 postwar recoveries, 13.9 million more Americans would be working today and the average real per capita income of every man, woman and child in America would be $6,308 higher. But the real scorecard on the Senate Democrats elected in 2008 is in the Census Bureau's Current Population Survey data. While all Democrats claimed to be champions of the middle class and defenders of minorities and women, census data show how their program did not live up to their campaign promises. Since the Senate Democratic Class...
  • Many Americans are still struggling financially

    08/11/2014 6:44:48 AM PDT · by george76 · 13 replies
    Los Angeles Times ^ | August 7, 2014 | Don Lee
    Four in 10 U.S. households are straining financially five years after the Great Recession — many struggling with tight credit, soaring education debt and profound issues related to savings and retirement, according to a new Federal Reserve survey. The wide-ranging Fed study assessing the economic well-being of Americans shows that the economy has made progress to the point where most households said they were "living comfortably" or doing OK financially. But almost 40% reported last fall that their families were "just getting by" or struggling to do so, and more people said their financial situation was worse rather than better...
  • In the Future We’ll All Be Renters: America’s Disappearing Middle Class

    08/10/2014 8:03:28 PM PDT · by SeekAndFind · 35 replies
    Daily Beast ^ | 08/10/2014 | Joel Kotkin
    America’s wealth is concentrating in fewer hands, and while the rich are getting super rich, the once vital middle class is nearing extinction. [SNIP] But today, after decades of expanding property ownership, the middle orders—what might be seen as the inheritors of Jefferson’s yeoman class—now appear in a secular retreat. Homeownership, which peaked in 2002 at nearly 70 percent, has dropped, according to the U.S. Census, to 65 percent in 2013, the lowest in almost two decade. Although some of this may be seen as a correction for the abuses of the housing bubble, rising costs, stagnant incomes and a...
  • The Middle Class, Refugees in their Own Country

    08/07/2014 6:02:20 PM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 08/07/14 | Dr. Ileana Johnson Paugh
    America, the former “land of the free, home of the brave” is crony capitalism ruled by an anti-American socialist/Marxist regime “We pretend to work and they pretend to pay us.” - Anonymous My reality today in America, the former “land of the free, home of the brave” is crony capitalism ruled by an anti-American socialist/Marxist regime. I feel like the musicians on the Titanic.
  • Pelosi to Reporters on Midterm Election: ‘We Need You to Be Messengers…’

    08/05/2014 8:06:41 AM PDT · by Olog-hai · 16 replies
    Cybercast News Service ^ | July 31, 2014 - 4:04 PM | Terence P. Jeffrey
    When asked at a press briefing on Thursday why her party’s message is “not resonating with the electorate,” House Minority Leader Nancy Pelosi told a room full of reporters, “(W)e need you to be messengers.” […] … “But, apart from that, we have come forward with our middle-class jump start. Over the month of August, we go forward with how the jump start talks about bringing jobs home. The Republicans have tax breaks to send jobs overseas. Democrats want tax breaks to keep jobs here at home.” …
  • Obamanomics In Action: Typical Us Household Worth One-Third Less Than Under Bush

    07/27/2014 4:31:31 AM PDT · by 2ndDivisionVet · 21 replies
    Gateway Pundit ^ | July 26, 2014 | Jim Hoft
    Another Obama record… AMERICANS GETTING POORER – HOUSEHOLD NET WORTH IN DECLINE.The median household net worth under Obama is one-third what it was during the Bush years. Under Barack Obama American households are worth two-thirds of what they were worth under George W. Bush. The New York Times reported: Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too. The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only...
  • Here Are The Cities Where Middle-Class Homebuyers Are Screwed

    07/12/2014 10:44:31 AM PDT · by SeekAndFind · 45 replies
    Business Insider ^ | 07/12/2014 | ANDY KIERSZ
    It's really hard for a middle class family to buy a house along the California coast.Real estate research and marketplace site Zillow routinely calculates an index of housing affordability. First, they use a proprietary statistical model to estimate housing values in a metropolitan area. Then, they calculate the monthly mortgage payment for a median price house in each metro area. Finally, they calculate the percentage of the median monthly income for each metro area needed to pay that mortgage payment.For example, Zillow's estimate for the median home price in Abilene, TX during the first quarter of 2014 was $98,600. After...
  • The American Dream is alive but it will cost you $130k a year

    07/10/2014 2:17:48 PM PDT · by SeekAndFind · 30 replies
    Yahoo Finance ^ | 07/10/2014 | By Nicole Goodkind
    The American Dream has been a focal point and topic of debate since the financial crisis of 2008: citizens and politicians alike are asking whether it's time to redefine what success looks like in the U.S. According to Howard Gold, columnist for MarketWatch and founder of GoldenEgg Investing, the white picket fence and security that hard work can bring is still alive, but it will cost you... a lot. In a USA Today article, Gold calculated that for a family of four living out the American Dream costs just over $130,000 a year. "This isn’t about being rich,” Gold tells...
  • The Fall From Grace of the American Middle Class, By the Numbers

    06/12/2014 11:16:22 PM PDT · by 2ndDivisionVet · 13 replies
    NewsMax / CNN Money ^ | June 12, 2014 | John Morgan
    America's middle class has fallen to mediocre levels — the U.S. median income only qualifies for 19th in the world now, below Japan, Australia and most of Western Europe. The bottom line is that the average Spaniard or Italian — not to mention the typical middle class denizen in 17 other countries — has more to his or her name than the average U.S. citizen does, according to CNNMoney. Using data culled from the latest Credit Suisse Global Wealth report, CNNMoney reported Americans' median wealth is only $44,900 per adult — meaning half have more than that, and half have...
  • NYC Announces Plan to Equalize Neighborhoods

    05/27/2014 10:17:58 AM PDT · by John Semmens · 13 replies
    Semi-News/Semi-Satire ^ | 23 May 2014 | John Semmens
    Concerned that the City is an inhomogeneous hodgepodge with pockets of great wealth in some neighborhoods and squalor in others, newly appointed Housing Preservation and Development Commissar Vicki Been announced a plan to move 80,000 to 120,000 poorer families into middle class neighborhoods. “This way instead of having blight and filth in every direction they might look poorer families will be within easy walking distance of a better kept neighborhood,” Been boasted. “The crimes that plague poorer sections of our City would be more evenly dispersed throughout the whole City. Victims will come from a more broadly representative subset of...
  • Conservatives Draft Manifesto to Help Republicans Attract Middle-Class Voters

    05/21/2014 9:46:20 PM PDT · by Theoria · 13 replies
    The New York Times ^ | 21 May 2014 | Jonathan Martin
    Hoping to push their agenda ahead of the presidential election, a group of prominent conservatives has devised a 121-page policy manifesto aimed at giving the Republican Party a message that will attract some of the middle-class voters the party lost in recent White House races.The document, to be unveiled Thursday, features eight essays with proposals on issues including health care, taxes and education. The authors hope the book will help Republicans address the economic anxieties of Americans and nudge the party from its most polarizing positions and constant confrontations with President Obama.“We have to do more than ‘Stand athwart history,...
  • The Middle Class Squeeze: Can The Populist Elizabeth Warren Champion The Little Guy With Big Gov't?

    05/18/2014 6:27:51 AM PDT · by SeekAndFind · 16 replies
    Forbes ^ | 05/18/2014 | Ralph Benko
    Who will prove the champion of the little guy and gal? Sen. Elizabeth Warren (D-MA) — on deck for her party’s presidential nomination should Hillary Rodham Clinton bow out — has become the political leader of choice for those who advocate Big Government as that champion. This columnist is skeptical about Big Government improving the lives of the citizens. Yet … there is a case to be made for Warren. She is, at very least, a magnificently worthy adversary for advocates of limited government and deserves to be taken seriously. America has had a decade of lousy job creation and...
  • How the Middle Class Lifestyle Became Unaffordable

    05/08/2014 7:10:27 AM PDT · by SeekAndFind · 16 replies
    Of Two Minds ^ | 05/08/2014 | CHARLES HUGH SMITH
    There are four structural drivers behind the soaring costs of the middle class lifestyle. Why have the costs of a middle class lifestyle soared while income has stagnated?Though it is tempting to finger one ideologically convenient cause or another, there are four structural causes to this long-term trend: 1. Baumol's Cost Disease2. Systemic headwinds to the current version of capitalism3. Dominance of global corporate capital4. Financialization The key take-away here is that the first two causes are structural and cannot be changed by passing a law or funding another state bureaucracy. Though many believe they can tax global corporate capital to...
  • Socialism, Seattle Style - Kshama Sawant's $15 per hour job killer

    05/07/2014 5:19:48 AM PDT · by Cincinatus' Wife · 23 replies
    American Spectator ^ | May 7, 2014 | Keli Carender
    "............................Educated, articulate and well versed in the recitation of neo-Marxist agitprop, [Seattle Council Woman Kshama Sawant]clearly has read many books and been taught many things that aren’t so.Such is the case with Sawant’s core mission of raising the minimum wage to $15 an hour because she believes it helps poor people. She is convinced that she can, by decree, override the laws of economics from her perch on Seattle’s city council. “Victory in the fight for $15 an hour will mean a substantial improvement in the standards of living of working people in Seattle,” Sawant...in a recent interview[,]“A real class...
  • CONFIRMED: Most of Jobs Added During Obama Years are Low-Paying, Part-Time Jobs

    04/28/2014 12:26:30 PM PDT · by george76 · 21 replies
    Gateway ^ | April 28, 2014 | Jim Hoft
    It’s an Obama world. Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Were Part-Time. ... And it’s likely to get worse… Obamacare will kill off at least two percent of the US full-time workforce. ... Obamacare is accelerating the US towards a part-time nation. Even far left Think Progress reported today that most of the jobs added since the recession are low paying jobs.
  • Middle class & living paycheck to paycheck

    04/28/2014 8:59:49 AM PDT · by george76 · 46 replies
    CNNMoney ^ | April 25, 2014 | Tami Luhby
    About one-third of American households live "hand-to-mouth," meaning that they spend all their paychecks. But what surprised the study authors is that 66% of these families are middle class, with a median income of $41,000. While they don't have liquid assets, such as savings accounts or mutual fund holdings, they do have homes and retirement accounts, with a median net worth of $41,000. ... Poor hand-to-mouth households, by contrast, typically have incomes of $21,000 and no assets. Families that don't live paycheck to paycheck have incomes of $51,000 and assets of $116,000. Those living paycheck to paycheck have a tougher...
  • The American Middle Class Is No Longer the World’s Richest

    04/22/2014 10:49:40 AM PDT · by C19fan · 41 replies
    New York Times ^ | April 22, 2014 | David Leonhardt and Kevin Quealy
    The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades. After-tax middle-class incomes in Canada — substantially behind in 2000 — now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.
  • The American Middle Class Is No Longer the World’s Richest

    04/22/2014 10:50:02 AM PDT · by Olog-hai · 3 replies
    New York Times ^ | April 22, 2014 | David Leonhardt and Kevin Quealy
    The American middle class, long the most affluent in the world, has lost that distinction. While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades. After-tax middle-class incomes in Canada—substantially behind in 2000—now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. The numbers, based on surveys conducted over the past 35 years, offer some of the most detailed publicly...