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Thread: Bottom 40% Have Negative Net Income

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    IMPress Polly's Avatar Senior Member
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    Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.

    Common wrote:
    Net income fell starting with bush and plummeted during obamas 8 yrs. There is clearly no doubt that the economy and working americans are faring much better under Trump. Not only is the economy humming there are more people working than in decades and there was an increase in workers average wages across the board.
    Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.

    Captdon wrote:
    Rule #1--Don't spend more than you earn.
    So I guess then no one should get a college education, right? Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?

    Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.

    MMC wrote:
    Nor do they talk about why the bottom 40% don't ever try to buffer themselves as the top 40% does.
    In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.
    Last edited by IMPress Polly; 08-06-2018 at 03:09 PM.

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    Chris's Avatar Senior Member
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    Quote Originally Posted by IMPress Polly View Post
    Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.



    Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.



    So I guess then no one should get a college education, right? Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?

    Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.



    In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.


    Just whose responsibility do you think it is to not lose money, get an education, save money.


    And the point of the OP link is not that people are losing money but overspending, spending beyond their means. But that doesn't fit your agenda.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Does the "40%" vote Dem?
    " I'm old-fashioned. I like two sexes! And another thing, all of a sudden I don't like being married to what is known as a 'new woman'. I want a wife, not a competitor. Competitor! Competitor!" - Spencer Tracy in 'Adam's Rib' (1949)

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    Quote Originally Posted by The Xl View Post
    Ever since we went off the gold standard, the poor and working classes have had their wealth stolen via runaway inflation. Fractional Reserve Banking is theft.
    If we had stayed on the Gold Standard we would be mostly poor. There isn't enough gold in the world to support our economy. We nay have yo have "faith and trust" but it's better tan not enough money. granted, Standard almost always prevented inflation, but the Standard also made wage increase neatly an unknown thing.

    The average wage in 1900 was 450 dollars a year. In 1875 it was 450 dollars. No wage increase for those 25 years. In 1930 the average wage was 1965. The Great Depression lowered all wages bit the Gols Standard kept wages down. We effectively left the Gold standard in 1933. Once the Depression was over inflation became the norm but wages went up.
    Liberals are a clear and present danger to our freedom and our society and our morals.

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    Quote Originally Posted by IMPress Polly View Post
    Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.



    Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.



    So I guess then no one should get a college education, right? Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?

    Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.



    In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.
    I never said what you think I said. Put your glasses on. I said if your debts get out of control you are in trouble. There is nothing wrong with buying a house with a loan to replace the rent payment. It's wrong to borrow to buy a house that's 30% higher. When you can't pay all your credit cards you are in trouble. That's not condescending, it's the simple truth.

    Yes, anyone working can do it. It means putting things off. That's what people won't do. that's when they get into trouble. Yes, it's their problem and i feel nothing for them unless it's from medical bills. Why should I be concerned by your irresponsibility?

    Just because you didn't do it only means you couldn't do it. It means nothing more than that.
    Last edited by Captdon; 08-06-2018 at 06:45 PM.
    Liberals are a clear and present danger to our freedom and our society and our morals.

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    Quote Originally Posted by IMPress Polly View Post
    Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.

    Yes the richer people don't mind lecturing poorer people on how to save money, and to make their money work for them. Don't mind getting poor people to invest their money and their time and teaching about budgeting money.

    Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.

    They are losing money because they are spending money. Spending more than they should.

    So I guess then no one should get a college education, right? Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?

    How did you figure that in about no one should get a college education. Shouldn't you be looking at that College isn't for everyone? Or that for many going to college doesn't mean they need to go to some out of state University. Whats the matter with Community College? Moreover why take from Peter to pay Paul. You still have to Pay Peter back. So why Pay out more money than what one would normally pay. That loan and that credit card comes with interest.

    Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.

    Well I just got done showing that is false about what cannot be done.

    In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.



    American prosperity of Trump era marks real turning point in history.....


    By Arthur Laffer
    July 27, 2018





    Gross domestic product, or GDP, is the measure of choice when assessing the health of any economy, especially in the United States. GDP, which is measured at annual rates, includes the value of production of all goods and services produced in a country. In the one year since President Trump took office, the first quarter of 2017 through the first quarter of 2018, real GDP grew at a 2.55 percent annual rate. This is higher than the growth for six of the eight years former President Obama was in office, or even five of the eight years when former President George W. Bush was in office.


    Source: http://thehill.com/opinion/white-hou...-story-socials



    Personal savings huh? The poor and lower middle class haven't had personal savings wherein they could cover their rent for a couple of months including their utility costs, nor food and gas. Not because they never had the money. But because they never thought to put that money away and not touch it. Instead it was spend on whatever instant gratification that was more important at the time.
    Don't only Practice your Art, but force your way into its Secrets, For it and Knowledge can Raise men to the Divine!!!!! Ludwig Van Beethoven ~

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    Millions Drop Off Food Stamps Under Trump, Small Business Optimism Soars to All-Time High.....


    Since President Trump took office in January 2017, the U.S. economy has made a much needed turn around.


    According to new numbers recently released by the U.S. Department of Agriculture, millions of Americans have left welfare checks behind after the program ballooned to record recipients under President Obama.


    Further, a new Gallup poll shows small business optimism just hit an all time high. Here's why:


    -Current financial situation -- 78% of small-business owners rate it as very or somewhat good, compared with 73% in the second quarter of 2018.
    -Cash flow in the past 12 months -- 69% rate it as very or somewhat good, versus 63% in the second quarter.
    -Cash flow expectations in the next 12 months -- 77% very or somewhat good, compared with 72% last quarter.
    -Credit availability in the next 12 months -- 49% say it will be very or somewhat easy to get credit, versus 44% in the second quarter.





    https://townhall.com/tipsheet/katiep...trump-n2507310



    Imagine that!
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    Quote Originally Posted by IMPress Polly View Post
    A remarkable new study published by Ashlyn Still and Jonathan Spicer for Reuters reveals that fully 40% of Americans currently have a negative net income, which means that their living expenses exceed their annual incomes. In act, according to this study, even the middle quintile of the population -- the average American -- is only barely above water financially, and the margin has collapsed.
    Know what that means?

    It means they have to cut up their credit cards and stop spending money they don't have.

    Problem solved.
    Freedom Requires Obstinance.

    We the People DID NOT vote in a majority Rodent Congress, they stole it via election fraud.

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    Quote Originally Posted by Common View Post
    Net income fell starting with bush and plummeted during obamas 8 yrs. .
    Socialism sucks.
    Freedom Requires Obstinance.

    We the People DID NOT vote in a majority Rodent Congress, they stole it via election fraud.

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    Quote Originally Posted by IMPress Polly View Post
    Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.
    Gee, it's such a mystery, to spend less than you earn to avoid debt.

    More people need to go to college, for $250,000 that they can't repay, to learn this lesson.

    High schools and parents can't teach complicated stuff like this.

    Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.
    Just wait until the socialists make everything free and see how much it costs them.

    There will be dinner dates at the San Diego Zoo when the nation gets a case of full-blown socialism.

    So I guess then no one should get a college education, right?
    You mean, they shouldn't pay $250,000 to a private university to get an engineering degree, or finance it with loans that will take them more than 20 years to pay back?

    No, they should not.

    You mean, they shouldn't pay $250,000 to a private university to do "studies" with no hope of ever getting a real job and no hope of ever paying back a loan? That's fraud.

    No, they really shouldn't.

    Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?
    Generally, no.

    They're doing something wrong with their finances (like making babies when they can't afford to) and they need to straighten their lives up.

    This adulting stuff is sooooo complicated, isn't it?

    No, it's not.

    Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.
    Then they drown in debt.

    Doesn't seem to be my problem.

    Why didn't their parents teach them?

    Why aren't their parents helping them?

    If they're so useless their own parents don't want to help them, I certainly shouldn't be asked to interfere.

    In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.
    Why has to cost of living risen?

    Taxes.

    Obama's treasonous efforts to destroy US domestic energy production.

    Obama's treasonous regulations.

    Invaders driving down wages. (They're also properly called "illegal aliens". Bet you don't use that one, either).

    Unfair trade agreements that drove the balance of trade heavily negative. (YEA! Trump!!!! WooWooWoo!!!)

    Democrats and RINOs.

    But we finally have an American in the White House, first time in 28 years....things will be getting better. for the AMERICANS.
    Freedom Requires Obstinance.

    We the People DID NOT vote in a majority Rodent Congress, they stole it via election fraud.

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