Bottom 40% Have Negative Net Income

[Sergeant Gleed]

A declining wage is very likely to create future problems i.e. a shrinking middle class. The 1% are not going to want to make up the difference.

The middle class is shrinking because of socialists and socialistm.

[Sergeant Gleed]

Read what I wrote again. Leaving out the quantifiable extremely impoverished today, they are many people who are financially unstable. They may look middle class and live middle class, but they are 30 days from welfare.

Damn boy.

Did ANYONE EVER tell you that people in America do not stay in "their" quintile?

They develop skills, they move up.they get a lot of overtime one year. They move up. For that year.

They break their leg, go on disability for three months, they move down. For that year.

They sell a house, the capital gains shoots them up. For that year.

[Sergeant Gleed]

Not really. What you all are talking about is not nominal but real wages. Real wages are adjusted for inflation. Nominal wages are steady if not rising, but because of inflation real wages are in decline. Number one cause of inflation, the goddamned government.

Does not matter.

Monopoly money or real money, they buy their stuff and pay their bills with what they have.

If they refuse to cut their spending, real money or obamas, they wind up deeper in debt.

If they spend less than they earn, they get out of debt.

Their body, their choice.

[Peter1469]

So I guess we can define negative income as living beyond your means. With credit from the fractional reserve banking system.

[Cotton1]

Good grief Cotton - revisit this tomorrow.

No thanks. But I do want to apologize. I was still carrying a grudge from something weeks ago.
My reaction to you was improper and out of place I should have refrained from any relply, especially the one I did. No excuse. Sorry.

[Captdon]

So I guess we can define negative income as living beyond your means. With credit from the fractional reserve banking system.

When I had a house payment it was within my means.

[Peter1469]

When I had a house payment it was within my means.

Me too. When I bought I didn't get close to the upper limit that the bank would have offered.

[Tahuyaman]

Bottom 40% Have Negative Net Income

I'd like to examine their buget, if they have one and see if they are living beyond their means.

This does seem to be a problem with many people. They place wants on the same or higher priority than their needs.

[Tahuyaman]

Me too. When I bought I didn't get close to the upper limit that the bank would have offered.

I've purchased four homes during my lifetime. Each time I ensured that the mortgage payment never exceed my budget. So much so that I could double the payment.

This reminds me of a funny story. I had a family reunion at my home. My daughter brought her sister in law. Her sister in law is seriously dumb as a post. She asked me "are you buying this house or do you have a mortgage"? I said " neither one, we own this home". She said "you must have saved for a long time to come up with this much money". I just ended that conversation by saying " yeah a long time".

[Peter1469]

Bottom 40% Have Negative Net Income


I'd like to examine their buget, if they have one and see if they are living beyond their means.

This does seem to be a problem with many people. They place wants on the same or higher priority than their needs.

My mortgage payment is less than a 10th of my paycheck. But I don't need more house.