The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it

[Spark]

Here are the statistics to prove it:
• 83 percent of all U.S. stocks are in the hands of 1 percent of the people.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.
• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36 percent of Americans say that they don't contribute anything to retirement savings.
• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.
• 24 percent of American workers say that they have postponed their planned retirement age in the past year.
• Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.
• Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.
• For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.
• In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.
• As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.
• The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.
• Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.
• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.
• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.
• In America today, the average time needed to find a job has risen to a record 35.2 weeks.
• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.
• or the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.
• This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.



the u.s. middle class is being wiped out here's the stats to prove it: Tech Ticker, Yahoo! Finance

[vols fan]

We know you got that from Fox news!!!!!!!!


Signed,
The DEMS here

[Spark]

Seems everything is going according to plan.

Tax and regulate the hell out of people until everyone is depressed and destitute ...

[Jamaicanman]

Bush tax cuts to the rich only, useless wars, Bush screwed up Fannie and Freddie (not Dodd and Frank), who cares what happened to the economy on 9/11 or the ensuing costs of security (bush knew about those planes that day and if he didn't, he had his people plant explosives), Bush had a surplus when he took office (but don't look at what Obama has done to the debt), la la la la....I mean a guy who is reading a book when our country was attacked...c'mon, everything is that guy's fault...


Signed,

The Usual Gang

[flarendep1]

Bigger government, taxpayer healthcare for illegals, defecit spending out of control.


The future looks bleak under the Dem plan. Say goodbye to the American dream.

[baseballdave]

The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it



Well, we know that KB, Dimer and me are not middle class because I don't see us shrinking !!!

[BettorsChat]

The banks now have 52% of GDP as well which is ridiculous.

Middle class has been fading away for the past 25 years.

[husker]

The banks now have 52% of GDP as well which is ridiculous.

Middle class has been fading away for the past 25 years.

the govt is giving them free money, what do you thing is going to happen.

[Spark]

the govt is giving them free money, what do you thing is going to happen.

Bingo ...

[grandmama]

the govt is giving them free money, what do you thing is going to happen.

I agree with you on your notion, but don't forget that the house first voted against bailing the banks out in october of 08'. Shortly thereafter, they buckled under the pressure and voted for it. I think they were all scared that if they didn't vote for it, they wouldn't be reelected in November. It really is a shame. With that being said, it was the Bush admin that rammed that bill through, and basiclly said that if it wasn't passed then the country would collaspe. He was very successful at doing that, but the dems that controlled the house should have been privy to his tatics by that point, and should have never flip flopped and voted for the bill--it really pissed me off that they did that. But, IMO, the middle class has been eroding since the mid 70's. Up to that point in our history workers wages generally went up every year, but in the mid 70's they stopped rising, but it wasn't like worker production went down at the same time, quite the opposite to be exact. I think a light went on in the heads of the powers that be that controlled and owned huge corps, they realized that the people in their companies really didn't have a lot of other options regarding work choices, so they rarely if ever paid their workers more across the board. So, at that time, workers pay stays the same, their production goes up, and the huge corps profits shoot through the roof because they don't have to pay their people a ton of cash, and their production goes up. I'm not demonizing these people for doing this, they didn't break any laws, but I'm just calling it like I see it. With all of the above being said, the workers had to find another way to make more money to make ends meet, so they turned to credit cards, and we all know where that story goes. A good example of this is GM. The GM workers were offered credit by their employers--GMAC--which IMO GM is actually better as a creditor than they are at making cars. IMO, the model has to change. Their needs to be more diversity in boards of directors. I see no problem with a mechanic being on the board at GM, and so on. I think if we have more diversity on these boards companies will be more inclined to reinvest in the most important aspect of their companies: human capital.

[husker]

I agree with you on your notion, but don't forget that the house first voted against bailing the banks out in october of 08'. Shortly thereafter, they buckled under the pressure and voted for it. I think they were all scared that if they didn't vote for it, they wouldn't be reelected in November. It really is a shame. With that being said, it was the Bush admin that rammed that bill through, and basiclly said that if it wasn't passed then the country would collaspe. He was very successful at doing that, but the dems that controlled the house should have been privy to his tatics by that point, and should have never flip flopped and voted for the bill--it really pissed me off that they did that. But, IMO, the middle class has been eroding since the mid 70's. Up to that point in our history workers wages generally went up every year, but in the mid 70's they stopped rising, but it wasn't like worker production went down at the same time, quite the opposite to be exact. I think a light went on in the heads of the powers that be that controlled and owned huge corps, they realized that the people in their companies really didn't have a lot of other options regarding work choices, so they rarely if ever paid their workers more across the board. So, at that time, workers pay stays the same, their production goes up, and the huge corps profits shoot through the roof because they don't have to pay their people a ton of cash, and their production goes up. I'm not demonizing these people for doing this, they didn't break any laws, but I'm just calling it like I see it. With all of the above being said, the workers had to find another way to make more money to make ends meet, so they turned to credit cards, and we all know where that story goes. A good example of this is GM. The GM workers were offered credit by their employers--GMAC--which IMO GM is actually better as a creditor than they are at making cars. IMO, the model has to change. Their needs to be more diversity in boards of directors. I see no problem with a mechanic being on the board at GM, and so on. I think if we have more diversity on these boards companies will be more inclined to reinvest in the most important aspect of their companies: human capital.

i was against the bailouts big time. ALL of them! even though the govt is making money on the BANK bailouts (aig, fannie, and freddy aren't banks), it set a terrible president. i agree on the middle class thing. that's a good idea about the boards. gmac was made to allow gm to sell more cars. all they have to do us lower loan standards so more people can buy cars. now they are going to be doing this again. i posted a thread about this recently. manufacturing was the base of the middle class in this country, and those jobs have gone over seas. many because unions priced their workers out of jobs. the same thing is going to happen to the last union strong hold, govt workers. people cry about this and that govt spending, but salaries and pensions are the biggest problem AND SOLUTION to the budget crisis.

[Jamaicanman]

I agree with you on your notion, but don't forget that the house first voted against bailing the banks out in october of 08'. Shortly thereafter, they buckled under the pressure and voted for it. I think they were all scared that if they didn't vote for it, they wouldn't be reelected in November. It really is a shame. With that being said, it was the Bush admin that rammed that bill through, and basiclly said that if it wasn't passed then the country would collaspe. He was very successful at doing that, but the dems that controlled the house should have been privy to his tatics by that point, and should have never flip flopped and voted for the bill--it really pissed me off that they did that. But, IMO, the middle class has been eroding since the mid 70's. Up to that point in our history workers wages generally went up every year, but in the mid 70's they stopped rising, but it wasn't like worker production went down at the same time, quite the opposite to be exact. I think a light went on in the heads of the powers that be that controlled and owned huge corps, they realized that the people in their companies really didn't have a lot of other options regarding work choices, so they rarely if ever paid their workers more across the board. So, at that time, workers pay stays the same, their production goes up, and the huge corps profits shoot through the roof because they don't have to pay their people a ton of cash, and their production goes up. I'm not demonizing these people for doing this, they didn't break any laws, but I'm just calling it like I see it. With all of the above being said, the workers had to find another way to make more money to make ends meet, so they turned to credit cards, and we all know where that story goes. A good example of this is GM. The GM workers were offered credit by their employers--GMAC--which IMO GM is actually better as a creditor than they are at making cars. IMO, the model has to change. Their needs to be more diversity in boards of directors. I see no problem with a mechanic being on the board at GM, and so on. I think if we have more diversity on these boards companies will be more inclined to reinvest in the most important aspect of their companies: human capital.

I agree with some of what you wrote, but how do you see technology and automation factoring into your human capital reinvestment strategy? The reason the people you mentioned above are still in their jobs might be b/c they adapted to the ever changing work environment and became more efficient b/c of technological advances. A company is not going to pay 2 people to do the job if 1 person can do it.

I couldn't agree more about board diversity. The boots on the ground should have some input into a company's direction. If even for a "boots on the ground" perspective. I also think this is lacking in government. Laws enacted are looked at through the prism of the everyday person and how this will affect them or their industry.

As far as bailout funds, the original intention of TARP was to remove toxic assets from the balance sheets (not that I agree with it), not interest free loans to banks for them to make money buying Treasuries.

[grandmama]

I agree with some of what you wrote, but how do you see technology and automation factoring into your human capital reinvestment strategy? The reason the people you mentioned above are still in their jobs might be b/c they adapted to the ever changing work environment and became more efficient b/c of technological advances. A company is not going to pay 2 people to do the job if 1 person can do it.

I couldn't agree more about board diversity. The boots on the ground should have some input into a company's direction. If even for a "boots on the ground" perspective. I also think this is lacking in government. Laws enacted are looked at through the prism of the everyday person and how this will affect them or their industry.

As far as bailout funds, the original intention of TARP was to remove toxic assets from the balance sheets (not that I agree with it), not interest free loans to banks for them to make money buying Treasuries.

you are right on the button regarding technological advances cutiing into jobs. I'm aware that with these advancements 1 person can do the job of three. I don't have an answer for your question, and I wish that I did, but i don't--maybe it's something we can all look into together. what do you think?

[jcindaville]

Paycheck to paycheck is a tough life, believe me.

Cant get a decent whore on Craigslist for under a buck 50 for 30 minutes and we all know that i cant last more than 20 seconds, which is 5 seconds longer than Pitino.

But damn, thats 7.50$$ for every second i am in that puss, that is toooooooooo much.

Fucking Democrats, raising cost of pussy too

[vitterd]

Paycheck to paycheck is a tough life, believe me.

Cant get a decent whore on Craigslist for under a buck 50 for 30 minutes and we all know that i cant last more than 20 seconds, which is 5 seconds longer than Pitino.

But damn, thats 7.50$$ for every second i am in that puss, that is toooooooooo much.

Fucking Democrats, raising cost of pussy too

republicans just keep raising the price of cock..... thats usually what they go for... at least thats what some right wing members here tell me...wide stance craig raised the price