"America's Middle Class is dying and the stats prove it"

[ctrlraven]

Take off your hats and bow to your betters. It's over - the noble American experiment I mean.


The American middle class is being systematically wiped out of existence. The rich are getting richer and the poor are getting poorer here at a historically unprecedented rate.

Once the United States (http://www.irishcentral.com/topics?topic=United+States) had the largest and most prosperous middle class in the history of the world, but that's ending at a blinding pace.

The new 'global economy' means that middle class American workers have to directly compete for jobs with people on the other side of the world where there is no minimum wage and practically no regulations.

If the socialism the Tea Party is shouting about means anything in the U.S. anymore it refers to the golden circle of the super rich, who are profiting at unheard of rates whilst the rest of this nation suffers.

U.S. Corporations have grown massively rich exploiting third world labor pools, but middle class American workers have increasingly lost out.

Here are the statistics to prove it:

• 83 percent of all U.S. stocks are now in the hands of 1 percent of the people.

• The top 1 percent of U.S. households own nearly twice as much of America's corporate wealth as they did just 10 years ago. (Thanks George!).

• 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans. (Thanks George!)

• 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.

• The top 10 percent of Americans now earn around 50 percent of our national income.

• 61 percent of Americans 'always or usually' live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.

• A staggering 43 percent of Americans have less than $10,000 saved up for retirement.

• 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, U.S. banks own a greater share of residential housing net worth than all individual Americans put together.

• 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.

• More than 40 percent of Americans who actually are employed are now working in service jobs, which are often very low paying.

• In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.

• In America today, the average time needed to find a job has risen to a record 35.2 weeks.

• For 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 (http://www.irishcentral.com/topics?topic=China) a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.

• Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.
The American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new 'global' labor pool. We're becoming the Chinese and the Indian labor market.

The proof is all around us, the American Middle Class is dying - and once it is gone it will take decades to rebuild, if that's even possible now, the way things are going.

To view the statistics quoted in this article CLICK HERE (http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#83-percent-of-all-us-stocks-are-in-the-hands-of-1-percent-of-the-people-1)
Source: IrishCentral.com (http://www.irishcentral.com/story/ent/manhattan_diary/americas-middle-class-is-dying-and-the-stats-prove-it-99180624.html)

[CBT]

Unreal, talk about sad. On a lighter note, I called maxmyspeed.com to have them fix my slow as hell computer and told them there is no way I would have paid for it if I had to deal with someone in another country and I was told they just brought thier 2 call centers BACK to the U.S. because no one wanted to talk to someone in the Phillipines every time they needed tech support. So now they have employees in Los Angeles and New York and are hiring. Hopefully more jobs make thier way back here.

[Joe Walsh]

"In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector."

Living so close the our Federal Government's hub this concerns me as much as any of the other stats listed.
Government workers once traded slightly lower salaries vs the private sector, for job security and great benefits....
now they get all that plus a 60% higher salary!
Anyone read about the town of Bell, California...which is just about bankrupt...
yet the City Manager was pulling down $787,000/yr.
The Police Chief was slummin' it at only $457,000/yr.....:eek:

We will soon have more Federal, State and County workers than we have working in the private sector.

When there is a Government holiday in the DC/Baltimore area the roadways are just about empty...no traffic, no back-ups.
It sounds great!... but it makes me realize how many government workers that there are.

If you are a Government worker...congrats!
I just think that we have way too many government workers.

[justbob]

I can certainately agree with link. I just laugh anymore or drink, not to mention caring less about issues that arise that I once felt were big deals. It is amazing how much the economy has an overwhelming power on the mind and how much it changes your priorities and your general attitude. End rant.

[CBT]

"In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector."

Living so close the our Federal Government's hub this concerns me as much as any of the other stats listed.
Government workers once traded slightly lower salaries vs the private sector, for job security and great benefits....
now they get all that plus a 60% higher salary!
Anyone read about the town of Bell, California...which is just about bankrupt...
yet the City Manager was pulling down $787,000/yr.
The Police Chief was slummin' it at only $457,000/yr.....:eek:

We will soon have more Federal, State and County workers than we have working in the private sector.

When there is a Government holiday in the DC/Baltimore area the roadways are just about empty...no traffic, no back-ups.
It sounds great!... but it makes me realize how many government workers that there are.

If you are a Government worker...congrats!
I just think that we have way too many government workers.

Read about Maywood, CA. An even better story about our trusted public officials and how to drive a city to ruin.

[Egon Spengler]

yet the City Manager was pulling down $787,000/yr.
The Police Chief was slummin' it at only $457,000/yr.....:eek:

That's a lot of dimp!

[sailsmen]

The average Federal Workers Salary before over time and bonus is $73K vs the average US Worker of $44K. The average Benefits for Federal Worker is $42K per year vs $10K for the average US Worker.

On an equal job Fed vs US Worker the Fed makes $11K more in salary and $31K more in benefits. This is from USA Today and Wash Post.

Today Gov't spends 35% of every dollar and the Fed is borrowing 41% of every dollar it spends. Every dollar Gov't borrows crowds out $.33 of private capital chocking the private sector off from growth.

The Top 1% have continued to have ~20% of income over the past 30 years. The top 1% share of income tax grew from 36% under Pres Clinton to 40% currently. The Bottom 50% share of income tax shrank from ~5% under Pres Clinton to 3.6% currently.

We lost wages due to workers in other areas rising up from their mud holes and conquering what is required to sustain themselves enabling them to also perform the same tasks as the workers in the USA at a much lower wage. This enables our workers to purchase goods they could never afford if they were made in the USA, for instance this computer I am typing this on.

Either the USA worker obtains skills to perform tasks the recent mud hole dweller cannot perform or the USA worker must also live in the mud hole.

USA worker wages only increased due to the reduction in the tax burden as a result of the "Bush tax Cuts".

Look at your income in and your additional tax. Congress has not even brought up extending, it expires 1-1-11.

Individual Income Taxes Under Presidents Clinton and Bush, 1999 Law and 2008 Law
For taxpayers who take the standard deduction and have no children
Taxpayer Tax under Clinton, 1999 tax law Tax under Bush, 2008 tax law Savings under Bush % Under Clinton % Under Bush % Reduction
Single, income of 30,000 $3,157.50 $2,756.25 $401.25 11% 9% -13%
Single, income of 50,000 $7,262.50 $6,606.25 $656.25 15% 13% -9%
Married, income of $50,000 $5,085.00 $4,012.50 $1,072.50 10% 8% -21%
Single, income of $75,000 $14,262.50 $12,856.25 $1,406.25 19% 17% -10%
Married, income of $75,000 $9,426.50 $7,762.50 $1,664.00 13% 10% -18%
Single, income of $125,000* $29,378.50 $26,472.25 $2,906.25 24% 21% -10%
Married, income of $125,000* $23,426.50 $19,462.50 $3,964.00 19% 16% -17%
*This chart does not take into account the Alternative Minimum Tax

Per the US Treasury there have been 3 major tax cuts since WWII.
Kennedy 1964 tax revenues $113B 1972 $207B
Reagan 1981 tax revenues $599B 1989 $991B
Bush 2000 tax revenues $2025B 2008 $2524.

The USA has historically had unemployment of 4.5%, look back under the past 4 Presidents and that is what it has been while the EU has been ~10%. Our Gov't continues to model our economy towards the EU. Why do we want 10% unemployment? Larry Summers says 10% is the new standard!

What do businesses do with their profits? Do they burn them in the back yard? Do they wipe their rear end and then flush them? No, they use them to pay dividends, pay TAXES, pay bonuses, expand their business, hire more people, pay down debt. Why are those activites continually being demonized? Would they praise them if they went Bankrupt and bailed out by the TAXPAYER?

Stupidity driven by the ignorance of hate abounds in the media and the Capitol.

[sailsmen]

When I graduated from College some of my friends went to work for the Feds. their pay was ~30% less, however they did not have to worry about layoffs and had good benefits.

Today these friends are looking at retirement with a package that only a multimillionaire could have acummulated in wealth value.

I have been a founder and/or owner of 6 businesses of which 5 have been prosperous. I am telling my children to go to work for the Fed, that had your mother and I done so we would have accumulated far more in wealth for retirement.

The most frequent visitor to the White House is the President of the SEIU, an ACORN founded Public Employees Union. Why do Public Employees need a union? Does the TAXPAYER abuse them?

We have become endentured servants of our Gov't.

[Haggis]

"[COLOR="Red"]When there is a Government holiday in the DC/Baltimore area the roadways are just about empty...no traffic, no back-ups.It sounds great!... but it makes me realize [B]how many government workers that there are.

If you are a Government worker...congrats!
I just think that we have way too many government workers.

I have never noticed that, of course I am off on those days. :D

I agree. :lol:

[Vortex]

Im not going to go into statistics but it does seem to me our middle class is shrinking. To my eyes the biggest reason for that is we have gotten away from our manufacturing jobs and transitioned to a service economy. Dont spout off about trade unions, blame US based transnational corporations that could care less about their employees and shipped all the manufacturing jobs to Mexico/China where they can avoid things like workplace safety. The shareholders are sure happy. Also blame the American public who dumb enough to buy goods manufactured overseas at the expense of "Made in USA" goods.
Think of the beer industry as an example. Remember in the 60's when there were large regional breweries like Strohs, Olympia, Lone Star, Falstaff ect.? Well, first, we dumba--es starting believing the ads of big corporations and did nothing as they muscled the regionals out of convenience stores and bars. Then the big breweries bought up and closed down all the regionals (lots of fired workers, from the breweries to the distributors). Once consolidated there were only three (3!!!) big players left. Then, to top it off, two of those three were combined and bought off by foreigners. Just a darn shame.
Manufacturing jobs are considered low skill/high pay jobs, ie, you dont need to go to college to do the job. These are the jobs for folks who don't or can't for one reason or another go to college. I remember when lots of small towns in the south had at least one clothing factory making golf shirts or whatever and small towns up north were making spark plugs or whatever. All these jobs are gone for good. We have become a nation of burger flippers, getting fatter and poorer. I dont want to hear any more crapola about "trickle down economics" or "free trade". These are just codewords to perpetuate the fix in the system.

[CBT]

Im not going to go into statistics but it does seem to me our middle class is shrinking. To my eyes the biggest reason for that is we have gotten away from our manufacturing jobs and transitioned to a service economy. Dont spout off about trade unions, blame US based transnational corporations that could care less about their employees and shipped all the manufacturing jobs to Mexico/China where they can avoid things like workplace safety. The shareholders are sure happy. Also blame the American public who dumb enough to buy goods manufactured overseas at the expense of "Made in USA" goods.
Think of the beer industry as an example. Remember in the 60's when there were large regional breweries like Strohs, Olympia, Lone Star, Falstaff ect.? Well, first, we dumba--es starting believing the ads of big corporations and did nothing as they muscled the regionals out of convenience stores and bars. Then the big breweries bought up and closed down all the regionals (lots of fired workers, from the breweries to the distributors). Once consolidated there were only three (3!!!) big players left. Then, to top it off, two of those three were combined and bought off by foreigners. Just a darn shame.
Manufacturing jobs are considered low skill/high pay jobs, ie, you dont need to go to college to do the job. These are the jobs for folks who don't or can't for one reason or another go to college. I remember when lots of small towns in the south had at least one clothing factory making golf shirts or whatever and small towns up north were making spark plugs or whatever. All these jobs are gone for good. We have become a nation of burger flippers, getting fatter and poorer. I dont want to hear any more crapola about "trickle down economics" or "free trade". These are just codewords to perpetuate the fix in the system.

You said it! And there is nothing free about "free trade", we are all paying for it now. Blame whichever you like, dems, repubs, whoever, but someone needs to fix it.

[sailsmen]

Can't get around this unless we militarily destroy the infrastructures of the emerging nations;
"We lost wages due to workers in other areas rising up from their mud holes and conquering what is required to sustain themselves enabling them to also perform the same tasks as the workers in the USA at a much lower wage. This enables our workers to purchase goods they could never afford if they were made in the USA, for instance this computer I am typing this on.

Either the USA worker obtains skills to perform tasks the recent mud hole dweller cannot perform or the USA worker must also live in the mud hole."

Due to tech we are a global ecnonomy. A plane and ship can deliver goods around the world and computers can send information arond the world. You cannot "ship a job overseas". Jobs are not shipped.

How many times has a factory moved into a community and provided good wages with a positive effect on their economy. Over a period of time the workers demand higher wages afterall they want more for themselves. The local gov't also wants more and increases the taxes on the factory. The factory profits continue to drop due it's increased costs. The factory purchases more automation to offset it's increased labor and tax costs. This results in layoffs. The gov't passes laws preventing the layoffs while increasing the taxes to provide benefits to those who were laid off. The cycle continues until the factory's cost exceed it's income. The factory either goes out of business or operates where it's costs are lower.

The Energy Industry employs 9,000,000 in the USA. USA technology drives the Worlds Oil & Gas. We have 2 trillion barrels of oil in the USA, enough at current consumption to last 300 years. We have enough gas reserves to replace oil at current consumption for 50 years.

There is $7.5 Trillion in Fed Royalty and Corporate Income tax in Natural Gas in the Gulf of Mexico and the South, enough to pay off 80% of the Public Debt. From 2005-2007 the Oil and Gas Industry paid over $250 Billion in Taxes to the Feds.

Natural Gas is the only Green Fuel that generates revenue to the Treasury.

One tanker holds more oil than what was discharged by BP in the Gulf and 67% of discharges come from tankers. No drilling means more tankers.

Since a very small group hates Oil and Gas we send our money to people who are duty bound to kill us and use the money to buy weapons to kill us. This small group of haters has banned 80% of our coast from drilling. Our Gov't owns 100% of oil offshore and 67% on our land. Our Gov't refuses to sell us our own oil and gas!

[sailsmen]

In the past 20 years 300,000 new laws have been passed. In the Federal Criminal Code there are 4,000 laws.

In the past 18 months over 200 new Federal Laws have been passed which are over 8,000 pages.

For most Federal Laws and Agency there is an equavalant State and in some cases also a local. EPA, State DEQ and City DEQ an example.

How can a business person comply with thousands of laws with out hiring several lawyers that specialize in 6 different areas and an HR person and a Safety person and an Enviro preson?

We are trying to hire a part time person, however my partner and my taxes are going up enough next year to almost equal the cost of a part time person. Until Congress adresses the income tax rates expiring 12-31-10 we are not hiring anybody.

[babbage]

http://www.mercurymarauder.net/forums/image.php?u=672&dateline=1075358894 (http://www.mercurymarauder.net/forums/member.php?u=672) sailsmen (http://www.mercurymarauder.net/forums/member.php?u=672) for President!

[Mr. Man]

Per the US Treasury there have been 3 major tax cuts since WWII.
Kennedy 1964 tax revenues $113B 1972 $207B
Reagan 1981 tax revenues $599B 1989 $991B
Bush 2000 tax revenues $2025B 2008 $2524.


Wasn't alive for the Kennedy tax cut but I can tell you that the Reagan and Bush Federal tax cuts caused my State and local taxes to rise by an equal proportion.
Can you say numbers manipulation