The Rich Got Rich And The Poor Got Poorer. But Ain't We Got Fun?
Good thing Democrats control the White House, House and Senate, huh? Because we know they're working hard to correct these horrible income discrepancies!
Bueller? Anybody?
The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25 report by the Center on Budget and Policy Priorities.
New data show that the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest parts of the population in 2007 was the highest it's been in 80 years, while the share of income going to the middle one-fifth of Americans shrank to its lowest level ever.
The CBPP report attributes the widening of this gap partly to Bush Administration tax cuts, which primarily benefited the wealthy. Of the $1.7 trillion in tax cuts taxpayers received through 2008, high-income households received by far the largest -- not only in amount but also as a percentage of income -- which shifted the concentration of after-tax income toward the top of the spectrum.
The average household in the top 1 percent earned $1.3 million after taxes in 2007, up $88,800 just from the prior year, while the income of the average middle-income household hovered around $55,300. While the nation's total income has grown sharply since 1979, according to the CBPP report, the wealthiest households have claimed an increasingly large share of the pie.
Arloc Sherman, a researcher for CBPP, said the income gap is expanding not because the middle class is losing income, but because the wealthiest incomes are skyrocketing.
Isn't this one of the reasons this country was founded in the first place? Because us peasants were fed up? To bad for us peasants all land has been discovered and we have place else to go. We just have to keep bending over. Difference between the 17 hundreds is the rich don't call themselves royalty, they just get perks and act like it. The tea party don't understand the real reason for a revolution.
is intended to be a factual statement
It is time Americans invested in an actual critical historical education and stop regurgitating PR tall tales. ... this country was founded by a bunch of rich white slave owners who wanted to be free*
* freedom to the founding fathers meant: to conduct their business as they wanted without having to pay taxes.
This is a country founded by rich people for rich people. Seriously, how long of a pattern people need to see before they get the message? Can you tell me any significant period of time (other than FDR's presidency) where the bidding of rich Americans and corporate interests haven't been the overriding policy factor in the majority of policys/actions by the US government?
CTHULHU 2012 "Why vote for a lesser evil?"
lots of truth there
good book on this: charles beard's an economic interpretation of the constitution of the united states
Peasants have a moral obligation to vote, or the greedy among us
take all.
It should be the central tennant of every middle class family to
vote every chance they get.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
Yeah let's all vote. Let's see, we can choose either the corporatist who acts like he cares about anything other than getting money in the hands of the corporations that own him, or the one who doesn't even bother acting that way. Hmm, who shall I choose?
Yet, we're the ones they claim are waging class warfare for having the audacity to argue for a progressive redistribution of wealth. "It'll kill the motivation to work hard" they say. I don't know about you but I'll happily take $250K a year at 60% tax rate over $35K a year at 20% tax rate any day.
Hopefully humanity will one day learn to be humane.
Originally from the USA, I will stay in France!
It did not take a genius years back to see this coming. I am not a genius, but I clearly lacked any confidence back then, and now, in the corrupt political system in the USA.
I found my own safe haven (I think!) but France sure did look tempting when I visited, and has only looked better since.
We Americans don't see ourselves as one people.
The French do.
They'll shut the country down if they don't like what the government is even thinking about doing, and the government must respond or they'll be out of power real quick, like even immediately.
Unlike the US, where our first loyalties are to our "tribe" in the broadest sense of the word: we're liberals or conservatives, evangelicals or catholics or jews or atheists, blacks or whites or hispanic or metropolitan, etc, etc, before we're "Americans."
Plus, in France it's possible to walk almost anywhere, so "hitting the streets" in mass demonstrations is no more difficult than walking out your front door. Unlike the US ..
etc etc etc
(smart move to stay there)
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
(I say) speak for yourself!
(I say) real Americans can (and should) find unity in the constitution!
audit-prosecute-incarcerate
(I speak) for all real Americans (all the others are fake!)
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
from reagan, to bush 1, to clinton, to bush 2, to obama--as long as both parties push the same economic medicine, things are bound to collapse...
Another in a long list of reasons not to vote for Obama again. I swear, the only thing so far that makes his presidency any different than another four years of Bush is his Supreme Court choices and the fact his speeches are just slow and boring instead of humiliating and irritating. (I'm still not convinced forcing an already broke citizenry to pay into contracts with private insurers with little regulation of rate increases is good healthcare reform).
Drill baby, drill.
Hopefully humanity will one day learn to be humane.
judge his appointments to the S.C. While they certainly aren't teabagging republicans, it's possible they are corporatists, which doesn't bode well for us either.
This. His choices are so centrist-beige it boggles the mind; of course if he actually did choose a progressive they'd have her fellating the Antichrist on Fox News 10 minutes after the choice was announced, so why would he bother.
foreseeable future. There is no reason to not develop oil and gas resources everywhere, including Alaska. Safety and pollution by the oil/gas developers can be controlled IF Congress wants to, so blame Congress for what little they have done to be responsible for the last 30 years. Obama can do little to satisfy the average citizen with a screwed up Congress. Compare what any other president was able to accomplish in his first 4 years with a scrwewed up Congress and hope he can do something in his second term. No better person than Obama has volunteered yet!
over the last 30 years. This difference in opinion suggests that Arloc Sherman has skewed his analysis toward the upper class, neglected the middle class, and grouped everyone else in the lower class.
But only very very slightly.
However ... the year to year CPI adjustment keeps getting "adjusted", which has had the effect of inflating the apparent median income when it is really declining.
The economics site ShadowStats.com has a somewhat controversial measure of CPI that uses the same calculation used before 1980. Here is what Median Income from 1977 to 2004 looks like when using this controversial CPI formula.
http://i26.tinypic.com/xvqdj.png
... that this is because the top 1% are the only ones who figured out how to work harder and smarter during the last 12 years. Everyone else? They're just taking up space and using up the oxygen.
Yeah, that's got to be it.
Ya, they're full of reasonable explainations... ;)
they'll explain away torture if you let them.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
They're the investment class.
Without them no one would have jobs!
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
...can be anyone nowadays who has a 401-K ...no?
audit-prosecute-incarcerate
The Republicrats are ALWAYS looking out for the small investor.
Own A Piece Of America!
Just Like The Big Guys!
Invest Now In Another Of Their Big Bubble Ponzi Schemes!
Before The Sky Falls!
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
and we have wannabe republicans in the scheme!
So what's the point? Focus on illegals and this fact will magically disappear.
The people of privilege will always risk their complete destruction rather than surrender any material part of their advantage." J.K. Galbraith
and abortion.
and racism.
they're all red herrings to trip up the middle class into giving
our riches to the elite 1%, one more time.
All they need is "one more time" to continue this forever,
and they're one deception away from rule at all times.
That's why we have a pack of very loony Republicans at this time.
Spinning as fast as they can.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
Of course the so-called American middle class is screwed.
Post World War Two American affluence is just another financial bubble.
Pop!
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
ya, but let's just say it exists like on a knife edge in a storm.
It can come back. There's no reason it can't win, and become the
norm.
We have a 99 to 1 advantage over the obscenely rich that are
making the rules.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
And that's why the middle (and lower) class is supposed to embrace The Endless War that we're 10 years into... or the current installment of it.
Maybe I'm tuned in to all the wrong channels, but I don't see or hear mainstream economists discuss this issue much.
I would especially like to hear a lot of public dialogue on the idea that higher incomes for the majority is more stimulative for the nation's economy and a better guarantor of the nation's health and longevity than super-high income for a tiny minority and low-to-middling income for the majority.
Doesn't it make sense that increasing incomes for the majority means you give a larger number of people money to spend on the products that American businesses produce, instead of giving them low incomes so that they can purchase very little? With a majority earning higher incomes, the country's businesses would do better economically and the government would get more tax revenue. This means more money that goes further and stimulates more portions of the economy than the present system of giving huge incomes to a small number of people, while mostly everyone else earns enough only to pay for necessities.
Bottom line from my perspective: it's ultimately destructive to America, and it's an un-American policy, to have tax laws and corporate compensation policies that encourage a wide income disparity.
... that no mainstream economists are in the middle class.
Good point.
Like using Ben Stein as if is a economist. Useless. Worse.
"Government by organized money is just as dangerous as Government by organized mob"
-= Franklin Delano Roosevelt =-
The ONLY goal of the bankster class is to become wealthier.
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
I'm totally baffled at why the chart, depressing as it is... is for the 10 years ending in 1998. Maybe if I read the article a dozen times that will sink in. But something tells me that for the 10 years ending NOW, the news is even much worse.
When I was a kid (in the 50s and 60s), I thought if I ever made $10,000 a year, I'd be rich. And by golly... I made it. I'm now 2 1/2 times "rich".
All I can say is... I'm sure glad I didn't have kids. There truly is no hope except for the rich... and I don't mean the tongue-in-cheek kind of rich I refer to above. Regular people don't stand a chance... no matter whom we vote for.
It appears that by not having children or having children the middle class is screwed. Compared to the overpopulated countries there is very little hope that the average USA youngster/citizen can compete in the global market even at the minimum wage. Without a large social outlay and a severe cutback to the upper class the country will flounder for at least a decade and a lot of bullshit will pile up by then.
Here's one from 1979-2005:
http://scienceblogs.com/transcript/income_ine...
And 1913-2004:
http://1.bp.blogspot.com/_9jbG-c2Ned4/RshMDhH...
Highest disparity just before 1929 crash.
Least disparity around 1968 when minimum wage was highest.
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
Check out this chart "Plutocracy Reborn":
http://www.visualizingeconomics.com/wp-conten...
Interesting... and not especially cheering.
I'm curious. What, these days, does "middle class" mean? Is it pegged to only income, or does debt level (and other factors) enter into it?
There is no precise definition of Middle Class - you can read Wikipedia's discussion of the term here: http://en.wikipedia.org/wiki/Middle_class
Economists like to divide the population into income quintiles. The top 20% are the "wealthy", the bottom 20% the "poor", and the middle 60%, the 3 middle quintiles, are the "middle class".
By that definition the size of the middle class is always the same - an exact 60% of the population, no matter how well off or desperate they are.
But no matter how immutable the "middle class" is, as income inequality increases, the standard of living of the middle class declines.
I guess I could have looked it up, but it was late (for me) at night and my brain was half asleep. Good discussion.
Class should be defined by the authority that one has to define one's own work.
If you are working for a paycheck, even a fat one, though that is getting less and less likely, you are WORKING CLASS.
That applies to circa 80% of the population.
Circa 20% are middle class, as in Doctors, Lawyers, Engineers and middle managers.
The top 1% are the investment class.
Talking about income rather than wealth is misleading.
The wealthy shield their income from view, and taxes.
It is the power that one has which is telling, wealth is power.
statusquObama, change you can only pretend in
running down to the auto salvage, recycling parts; we did it in the sixties, but not because it was trendy, but because we didn't have the money for new.
now renewable is the thing, and i wonder if anyone has done some sort of inventory to determine the requirements, just in metal alone, to fabricate our wonderful new electrical infrastructure, in order to power all our new teslas.
not to mention that there are 2,000 different "entities" involved in the overall "grid"; a total misnomer, at least thats what they said on the public teevee. thats a lot of our new "corporate citizens" that stand to rake in the big, big, profits standing up a truly modern electrical grid right here in the good old USA.
this post is about the rich getting richer, the class divide, which is commie talk, as they say. not that in narcissistic nation it's unusual for people to have complaints; my question is whether or not people in power, our elected representatives, have a clue to the fact that you cannot let a modern "post-industrial society" go to rack and ruin.
does it serve anybody to have a 40% or 50% illiteracy rate in the country? who do whoever "they" are think is going to run all these machines? this is what the budget cutters aren't thinking about, neither are the big spenders, maybe it can be remote from Bombay, yeah, thats it, and i'm a movie producer, yeah, thats the ticket.
and some people say this has turned into a conspiracy site.
pretty much explains it:
http://www.youtube.com/watch?v=M8ZH1ejtIFo&fe...
Aren't we over reacting? The trickle down economics fairy's are coming. Really. They will be here anytime now - with lots of wealth for all of us.
Rush Limbaugh is what a smart person thinks a stupid bigot sounds like.
You seriously believe that? You are far, far more optimistic than even the most Pollyana economists out there. Lemme put it this way - I hope you're openminded about being a vassal.
capitalism
now if americans want their beloved capitalism over a social democracy then they had better have some very good regulations.
personal greed and corporations are now persons will create a society of haves and have nots. mostly have nots.
been saying that for 30 years but americans line up to vote for reagan economics politicans.
bet most of those unemployed at one time voted for politicans that preached and voted for deregulations, free markets, corp tax cuts, tax cuts for the rich, bust unions, open borders for cheap labor, child labor in foreign nations, outsourcing, green card cheap labor, etc.
ignorance has a price and it is not wealth.
Capitalism is the wrong word for what we have now. Most industries are controlled by a few behemoth multi-nationals, there is less social mobility than at any time in American history - except downward mobility. The old feudalism's hereditary aristocracy of nobles has been replaced with a largely hereditary economic aristocracy of monopolistic multi-national corporations and the people who control them. The Supreme Court has even declared those corporations to be "people" with more rights than mere "meat" people, and have declared free speech to mean money.
"Correcting" Income "discrepancies" is nothing more than wanting the kind of "socialism" that Hugo Chavez is perpetrating in Venezuela, to the total ruin of that country. This we do not need. The reason "poor" people want to "correct" these "income discrepancies" is that THEY ARE JUST AS GREEDY AS ANYBODY ELSE. Their problem is that somebody else got there first. Sorry if ya don't think this is "politically correct" or whatever, but it's the plain truth. You want more money? Pay attention in school, take a night course instead of planting your fat butt in front of a TV, and get to work.
Bullshit.
Watch this.
statusquObama, change you can only pretend in
I've been saying this for years...
LOL to death at "bootstraps"
capnmike:
"poor" people aren't trying to correct income disparities, WORKING people are. Somehow, people are working more hours than ever, being more productive than ever, and yet receiving less compensation, while the CEOs and (large) stockholders are getting filthy rich.
It's not about education or hard work any more, it hasn't been since the 80's. Telling people to work harder or start their own business is just idiotic. People are already working 2 and 3 jobs, and we can't all be small business owners, for crapsakes, somebody has got to be an employee.
The core of the problem is that capital has gone global, while work is still primarily local. If the stock market wasn't a rigged system, it would compensate somewhat, but the stock market is a rigged system, one that has failed the great majority over the last 15 years.
Anyone who would care to explain so that I may understand...What is the point of this? Do you not understand that this is considered capitalism? Why do you have a problem with the free market? This is how America became the leader of the FREE world, not a communist,Marxist,Leninist, socialist,monarchy,dictatorship or anything that even resembles them.Think about it. Obama and Reagan may be complete opposites, but the last time I checked, the United States is still the most free nation on the planet, even with the ideological differences. If you don't like it here, go to Saudi Arabia,Afghanistan,Venezuela,China,or the Horn of Africa,wherever...stay a few years and write often. Tell everyone how much better your life is there.I very much doubt you will stay longer than a week or two before you are homesick. And when you get off the plane back in this blessed country, I will lay odds that you will kneel down on your knees and kiss the tarmac, and then stop at the first fast food place you see...Hypocrites,you sound like whiny,spoiled children who always want more useless STUFF to play with, and can never have enough...What? Can't get a job? Who's fault is that? The rich corporations who won't hire your lazy butt? Go ahead, waste your time complaining on the internet, then go pick up your "hungry" sign and stand on the off ramps, you'll make more tax free bucks than actually working for a living. "Give a man a fish(or maybe a double filet o'fish from Mickey D's), he will eat for a day, TEACH a man how to fish, he will eat for a lifetime(unless you're too lazy to cut bait)."
Bullshit.
In the 50s and 60s, CEOs typically made as much as 30 times their lowest paid worker.
Today it is one thousand times.
Instead of paying their employees more, the fat cats LEND the money to make up their falling standard of living.
The fat cat's salaries go up and away while their employee's debt goes ballistic.
Chomsky here
statusquObama, change you can only pretend in
The US is very, very far from "the freest nation on the planet." For one thing, we incarcerate our population exponentially more than other countries do. We have several times more people in prisons per capita than China, Russia, Venezuela, North Korea... Where do you get "freest nation?" That's ridiculous.
OK, have you checked our "prison" system lately? Air conditioning, cable television, fitness gyms, free medical/dental care,three square meals a day w/snacks, free internet access/libraries, and all for the "innocent victims" of our "racially biased" criminal courts."Oh NO! I didn't rob that liquor/convenience store for the third time your honor!It wudn't me that done raped that six year old girl and cut off her head and buried her in my backyard!I ain't guilty judge, wasn't me that stood on the street corner selling crack to ten year olds while the police were videotaping it!"Poor,poor non repeat offenders!Eligible for parole after 3-5 on a 50-life sentence! Hmmm,ridiculous, you say.Perhaps you are right, why don't you go to a pleasant Russian gulag, or a cheery Chinese "re-indoctrination facility",or a Venezuelan wholesome, healthy ,non torture country club, and lastly, JUST TRY to cross into North Korea, YOU can be part of the non starving, non brutalized, non gang raped, happy lifelong residents of the non rat infested sewer Disneyland adventure, AND stay busy at your new job position of salt mine hard laborer(only 14-16 hrs/day), eat roaches for protein daily(if you're lucky), AND, as a bonus, learn how to worship the Dear Leader (not optional)! All for speaking out against the government policies, just like on this website!
The U.S. does have more people in it's prison systems than most other countries in the world, but China, Russia, North Korea and Venezuela are probably not too far away in numbers from the U.S.. North Korea is most likely way out of the ball park. You could include the fact that the largest of criminal empires are ran from within the walls of U.S. prisons and our Government knows it, but does nothing about it.
I agree that the U.S. is far from being the 'most free' country in the world. Our system government has evolved to be a creation of the banks and the wealthy elite, a nation of 'haves and have-nots' that maintains the illusion of being a constitution-based federal republic with strong democratic traditions. If you have enough money, you can do anything you want, legal or otherwise. A perfect example is the installment of George W. Bush as President. Quite frankly I am beginning to believe that Obama is also a 'puppet' President.
If you don't have the scratch (actual or on paper) you're basically a slave.
Government + the Federal Reserve = organized crime
Uh, excuse me, but I WORKED hard in the EMS system, hospital system, health care system, industrial safety, and finally, before that other driver ran a red light and broke my back along with a couple of ribs last year, I was the sole caretaker of two Christian schools, the church daycare and all the grounds.And have NEVER made over 25 grand a year. But I have a wonderful, loving family, a decent home, and nobody in my family EVER goes hungry.I can speak FREELY and go WHEREVER I want in this country,WHENEVER I want. I SAVED my money, GAVE to the poor(NOT welfare addicts), and STILL have PLENTY to provide for my children. I NEVER took welfare, food stamps, or government subsidies in my life. I am GRATEFUL for what God has blessed me with, and big deal about what ANYONE else has,however they got it. I pay my taxes,render unto Caesar that which is Caesars, and render unto God that which is Gods.If I'm a slave, then my slavery is voluntary. For my Master is Christ.I don't sit and whine about what I don't have, like most materialistic, ungrateful hypocrites do. Here's something else to think about; My dear old widowed mother,with 8 siblings,was raised by my late grandmother who was widowed during WW2,on a cotton farm in South Carolina.Her family NEVER took government handouts, WORKED and SAVED and NEVER went hungry.My mother WORKED and supported 5 children with my late father, who was a career military man, who was also 100% disabled from epilepsy and COPD.I and my siblings all WORKED and are PROUD to live in this great FREE nation.ALL of us have everything we NEED.If you can think of a BETTER place to live, I suggest you move there, because you are the basic root of the problems in this country, ALWAYS complaining about EVERYBODY ELSE and their wealth or whatever they have that you don't, but are NOT willing to WORK for.Maybe you can feel better about yourself somewhere else besides my country.Quoting my mother;"You NEVER see a U-Haul behind a hearse." Slave? That's funny, never noticed any chains around MY legs.What about YOU?
Does the "T" in Tmalone stand for 'teabagger'?
At what point would I be working hard enough for you? 80 hours per week? 100 hours?
How much education should I have? $60,000 worth? $110,000 worth?
If you want to make the bullshit argument that everyone who isn't doing well is just lazy, go for it; but it makes you sound like an uninformed fool, or a Teabagger, if there's really a difference.
As for leaving the country to find somewhere better; I don't have to because this is my country, and I'll damn well fight to change it until it fits my liking. If the handful of billionaires who currently run it don't like it, they can leave and go find somewhere that will tolerate their thievery and treason.
Well,you certainly have a knack for the English language don't you? I never said that "everyone who isn't doing well is just lazy", you took my statements out of context, but that's par for the course nowadays. If you aren't "doing well", first, define that phrase. Do you mean; homeless,destitute,starving?BEEN there,DONE that. OR do you mean; Without a yacht,limo,or private jet? Me? I never needed things like that, did you? Yeah, some people like me tend to get on the nerves of people like you, because deep down, you know we are right. I've NEVER been "rich", NEVER had an inground pool, or even a brand new car.But you know,I don't care. Not a bit,why should I? I have everything I NEED.STUFF and material wealth mean nothing to me, more trouble than it's worth..So what if the "billionaires run this country", you think YOU could do a better job,well, go for it, "ANYBODY can grow up to be President",if they can play the political game well enough,look at our current POTUS! You know what's so great about this country? ANYBODY can start a business in their garage, and WORK to make it into the next Apple Corporation, like Steve Jobs and Bill Gates.What?The "handful of billionaires"can leave the country, absolutely!They can come and go as they please, they can afford it! But, why should I care about that?Why should YOU?Thieves are they? Did they stick a gun in your face and take your credit card, or did they force you to use it at Walmart this weekend? Treason? Punishable by death, according the federal government. Good luck getting that case to the Supreme Court.And also, look back up the thread, you'll see what MY story is...By the way, what's a "teabagger"?
this comment was meant to be a reply to something upthread
What would current rates of mortgage defaults and the percentage of Americans without health insurance be today had incomes risen proportionate to the costs of housing and health insurance, give or take a housing bubble?
In Elizabeth Warren's work, does she indicate what a person's income should be in 2010 vs. 30 or 40 years ago in order to afford these essentials?
Here's the answer to the first question: ZERO. Mortgage "defaults" are ALWAYS the fault of the mortgagee, not the mortgagor and here's why; That person who DID NOT READ the mortgage agreement SIGNED OFF on that variable rate mortgage agreement, OR even the FIXED rate mortgage agreement.And don't come back at me with "they didn't know the costs of assuming the mortgage", in actuality, a mortgage agreement is like any other other LEGAL DOCUMENT, anyone who doesn't READ IT, UNDERSTAND IT, CAN AFFORD IT...should NOT sign it.Too much house, not enough income,BEEN THERE> DONE THAT..., got LAID OFF two weeks after assuming a HUGE mortgage, but survived long enough to sell the house WITHOUT missing a payment.AND MADE 10% of the value BACK after living there 4 1/2 years.That's over $25,000...How did I do it? I busted my hump, wasn't too proud to get my hands dirty, and PAID MY BILLS ON TIME.I didn't sit and whine about "that bad old bank took advantage of me!"I knew I had to provide for my family FIRST, not feel sorry for myself and blame everyone else for my misfortune.I DID SOMETHING ABOUT IT!Sure, I downsized when one of my kids "left the nest", my FIXED mortgage rate was 6.25% 5 years ago, NOW it's 4.25%!(BOTH homes are brand NEW construction)When I lost my job, I became SELF-employed, planted a garden, and CUT BACK.My wife started a new job with GREAT health/dental/disability insurance, and the premiums ARE LOWER NOW than they were back then, even AFTER my THREE MAJOR surgeries on my SPINE and shoulder.AND, TWO kids with braces, And diagnoses of lifelong physical problems(spinal arthritis,cervical stenosis,fibromyalgia,lumbago,and COPD)WE WERE BLESSED INDEED, because we GOT DOWN ON OUR KNEES AND PRAYED FOR GOD TO BLESS US(which He did and giving Him the GLORY), not stick our hands out and ask; WHERE'S MY BAILOUT? (Like most whining liberals do...)WE did it, how come you can't? P.S.Maybe the liberals and socialists who make up the MAJORITY of the VOTING public should STOP COMPLAINING about the BIG BANKS,BIG INSURANCE, and BIG CORPORATIONS and VOTE for a conservative government who WILL REGULATE AND REDUCE the BIG GOVERNMENT they voted for in the first place.LESS government=LESS budget deficits=LOWER taxes=MORE jobs=HIGHER standard of living+ BETTER health care at LOWER costs...
The answer to your second question is:I'm SURE she ASSUMES a HUGE amount of income, like SHE made SELLING her pack of LIES to liberal suckers who waste their money on socialist propaganda which they use to attempt to start a "revolution of change for the working class majority".That's EXACTLY what it is, I'm not blind or a fool.ALL those "Utopian daydreamers" are missing the ONE TRUE FACT which is:If you don't separate your WANTS from your NEEDS and PRIORITIZE the NEEDS FIRST, you WILL eventually go broke.For example;John Smith bought a boat,which he uses for skiing on the lake maybe a half dozen times a year.He spends MORE money on the boat than he does for FOOD and CAR insurance, which he NEEDS. He plays on the weekends instead of working a little more to make up the difference in debt to income ratio for his WANT(the boat)which also NEEDS a trailer,a big gas guzzling truck to haul it,MORE insurance coverage for both,ski equipment,etc.Then he has no money to pay the credit card bill for ALL his NON essential STUFF.He gets behind,his APR goes to 29.99%, NOW he's STUCK with an expensive toy he DOESN'T NEED, and his credit rating plummets.Then the truck needs repair and maintenance, which he can't afford now.He gets deeper in debt, he can't meet his mortgage for his HOME(A NEED),and can barely feed his family and pay the utility bills(MORE NEEDS).HE sells the boat,truck,trailer,and all the STUFF he didn't NEED.And LOSES a big pile of money, wrecks his credit score, and he has to get a second job to keep the family BUDGET afloat, then he gets sick from the stress.He "defaults" on his mortgage(which is too high because he WANTED a BIG HOUSE with a pool),loses his house,tries to borrow more money to support his lifestyle of WANTS,can't get any credit, meanwhile,his wife leaves him, sues for alimony and child support, and he has to get a THIRD job to pay for all of it.The vicious cycle continues to worsen, now he's drinking heavily,living in a trailer by himself, has lost all his jobs, and is contemplating suicide, ALL because of a stupid BOAT.The moral of the story: "You make your bed, you lay in it." THE END
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