90% Of Americans Are Poorer Today Than They Were 27 Years Ago

a reply to: AlaskanDad

And to think, even our poorest are still richer than the majority of the world's population. Still, I hear you. According to dollartimes.com, due to inflation, $1 in 1960 had as much buying power as $7.92 in 2014. In 1986, my birth year, a dollar was still worth twice as much as now.

If that wasn't enough all by itself, then how about the insane amount of taxes we pay? Politifact reveals that for the fiscal year 2013 we Americans paid an aggregate amount of $4.581 trillion in state, federal, and local taxes. They say that the corporate tax doesn't make much difference. Being that it's Politifact, it's vague, and I'm not sure whether they're taking into account all the other types of taxes, e.g., property, sales, excise, etc. I imagine that it doesn't, but that is conjecture.

Anyway, I can totally buy what you're saying. We will surely get poorer as time goes forward.


The Politifact link won't seems to work right when I post it in the thread, so here is the URL:

www.politifact.com...

a reply to: JohnFisher

The Politifact link won't seems to work right when I post it in the thread, so here is the URL:

www.politifact.com...

lol, Now the link wants to works.

The western world needs long term planning and intelligent politicians looking ahead building a constructive future. Sadly, such politicians do not exist.

What bothers me a lot is that during election time, no actually important subject gets mentioned by the parties. It's not just that I don't agree with any of them or that I think they're stupid... they just don't mention them in the first place. They only seem to touch the easy subjects and the hard and ''boring'' ones are done off with a oneliner. I mean, what are your plans for my pension, politicians? What on earth will this EU construct become? How are we going to fix this, fix that, etc. These subjects aren't as sensational as many others but I myself believe that a responsible politicians seriously considers these as they might be boring, but very important to us all.

Europe has been on quite a decline in the recent years as well which has been in many ways besides just poverty and economy. As for the USA: I find it hard to understand it. I don't read up on it enough probably to really get an idea, but just like about everything concerning the US there're many sources who all might say the complete and exact opposite. Some say the USA has been doing a lot better recently and that it's all happy and good again, some say there's widespread poverty, people without a house or place to live, people who cannot or hardly make ends meet, and so on.

I just hope for you US citizens that your politicians are wiser than those here in Europe. And that they actually have realistic and thought-out plans to tackle this ''boring'' but complex problem.

Here in Europe the country where I come from there are political discussions going to give every citizen a basic income . Whether they work or not .. studies show that if you give citizens this basic income like 800 to 1000 euro's a month they are willing to work even more then before and minimum wages can be stopped because of that basic income.

Minister Asscher this week spoke out about the job losses expected by the robot. This will result in an even greater inequality in income occurs than is already the case. Something thoroughly According to the minister therefore change in our social system: "If robots leads to displacement of low-paid work and a skewed income
Minister Asscher this week spoke out about the job losses expected by the robot. This will result in an even greater inequality in income occurs than is already the case. Something thoroughly According to the minister therefore change in our social system: "If robots leads to displacement of low-paid work and a skewed income distribution, then we must parry to keep the economy and society healthy. Our tax system should change, would be "new instruments" should be found for a society in which so few people pay tax. Less money may be a large number of jobless people there even issued.
distribution, then we must parry to keep the economy and society healthy. Our tax system should change, would be "new instruments" should be found for a society in which so few people pay tax. Less money may be a large number of jobless people there even issued.

originally posted by: charlyv
a reply to: LDragonFire

Well, we have changed many of those statistics. Now that insurance companies cannot refuse you for prior conditions, this has changed considerably. It sure is not perfect, and there is great room for improvement, but these stats wont hold right now.

How will that help anyone? When you have cancer etc....you can't even work full time. So how are supposed to be able to pay the front $7000 so your insurance will start paying finally?

All the aca did was require those too poor to afford medical bills, pay outrageous premiums on a policy they can't use because no poor person could ever shell out $7000. They would starve and or be homeless.

Pelosi, is that you?

originally posted by: charlyv
a reply to: LDragonFire

Well, we have changed many of those statistics. Now that insurance companies cannot refuse you for prior conditions, this has changed considerably. It sure is not perfect, and there is great room for improvement, but these stats wont hold right now.

How will that help anyone? When you have cancer etc....you can't even work full time. So how are supposed to be able to pay the front $7000 so your insurance will start paying finally?

All the aca did was require those too poor to afford medical bills, pay outrageous premiums on a policy they can't use because no poor person could ever shell out $7000. They would starve and or be homeless.

Pelosi, is that you?

Well...whatever. I'm thankful that I'm in the 10% that isn't poorer. I could very well have been though. But I planned ahead. One of the few times that I can count on one hand where a plan came to fruition.

A lot of this is based upon a individual perspective, not all, but a lot.

I cut up all my credit cards back in the eighties and have paid cash since. It is a hard life when you do such, but if you do it early enough in life, it does pay off.

Save for your wants, pay for your needs, comes to mind.

This is the result of a credit driven consumer mindset.

a reply to: JohnFisher

That wealth is superficial.

Beds lay empty, abundance lay on the shelves and no one has any equity or family time.

a reply to: AlaskanDad

ummmm but the other 10% are much richer then??? So it all evens out!!

Right now interest rates are low. Many people have gotten into mortgages at 2-4% interest on homes that are insanely inflated in price not to mention that every other cost for utilities, food, gas taxes at every level have sky-rocketed. The only reason people are able to stay in their homes at this point is because their mortgage payments are low.

This generation has never seen interest rates at 8% or more. Nobody could afford a raise in interest rates as high as they were in the 80's as most of your disposable income is spent on other costs to keep the lights on, the heat flowing, the car running just to get to that low paying job or multiple ones and to put food in your belly. I wonder if tptb realize how much of an effort it is today to just keep things going.

Pffft Americans are just lazy! 12 hour work days! You should be working 26 hours a day and 8 days a week if you want to afford to either eat or have a roof over your head! And healthcare? stop acting so entitled you low class scum! How dare you think you have a right to good health and a long life! You are just useless sub human eaters! The sooner you die the better so you dont get in the way of us in the political and CEO classes in the 0.1% who will live into our 100's which is what a superior species such as us have a right to do!

You peasant scum will be asking for a decent education next! As pointless as trying to educate monkeys......

/Sarcasm.

a reply to: whatnext21

I wonder if tptb realize how much of an effort it is today to just keep things going.

They know how hard it is but most of them don't care. If you look some of these dirtbags want to bring back child labor.
North Carolina, Kentucky, Tennessee, and Virginia have kids as young as 7 years old working in tobacco fields. They want to bring back the good old days when wage slaves worked from the time they could walk until the day they died. Just remember many of the people behind these things never worked for the things they have mommy and daddy left it to them when they died so they really have no idea what it is to work for a living. All of this is class warfare plain and simple and the wealthy are winning.

originally posted by: 0bserver1
Here in Europe the country where I come from there are political discussions going to give every citizen a basic income . Whether they work or not .. studies show that if you give citizens this basic income like 800 to 1000 euro's a month they are willing to work even more then before and minimum wages can be stopped because of that basic income.

Minister Asscher this week spoke out about the job losses expected by the robot. This will result in an even greater inequality in income occurs than is already the case. Something thoroughly According to the minister therefore change in our social system: "If robots leads to displacement of low-paid work and a skewed income
Minister Asscher this week spoke out about the job losses expected by the robot. This will result in an even greater inequality in income occurs than is already the case. Something thoroughly According to the minister therefore change in our social system: "If robots leads to displacement of low-paid work and a skewed income distribution, then we must parry to keep the economy and society healthy. Our tax system should change, would be "new instruments" should be found for a society in which so few people pay tax. Less money may be a large number of jobless people there even issued.
distribution, then we must parry to keep the economy and society healthy. Our tax system should change, would be "new instruments" should be found for a society in which so few people pay tax. Less money may be a large number of jobless people there even issued.

This is exactly hat I've been talking about. We need a new social structure because the day and age of everybody needing a job is over and it's only going to get worse as technology continues to evolve.

Savgamer 25, as to your question about Greed, Stupidity and Greed are both Infinite and Boundless. There are those amongst us willing to Kill others Children so they can have more. Yet it seems the Psychopaths are Fully Protected by our Police State. You and I can only imagine The End Game... Peace Arjunanda a reply to: sacgamer25

Not surprising and I only expect it to get worse. Every man for themselves.

Our society doesn't value education as much as it should. Our society would rather facilitate athletes and movie stars making millions. Our society keeps voting in corrupt politicians that work with bankers and corporations that do nothing but screw you over for a dime. People are too easily manipulated on the hot-button issues and end up voting R and D.

Ah well, I'm sure our masters will take care of us when all the jobs that are left in this country are working for Walmart and McDonalds. 15$ and hour and free healthcare - the American Dream, it's there for the taking.

It's partially the QE from the Fed. They are printing money with nothing of worth to back it. What a dollar used to represent, it now takes two or three to equal that same value today. So in reality, even the billionaires are less wealthy in a sense. They just have so much in hard wealth and assets that it doesn't matter - an oil field is an oil field no matter how many dollars in worth they say it is.

This is why my family hangs on to their bit of land with everything they have. Land is land. It won't change even if the dollars behind it do.

This is why the poster up thread is discovering the house is worth so much more than stocks.

That market is only so high because of the funny money pumped into it. It will come down, soon, and hard.

OP's chart doesn't even make it past 2010. Since the stock market crashed in 2008 and 2011 the economy/stock market has been on a constant increase, reaching record highs multiple times a month.

Oh, and I do not fall into the 90% because I am much more wealthy now then 1987 when I was 1 year old

a reply to: iamhobo

The stock market is not tied to the prosperity of the american people. Unemployment, poverty, and income inequality are at great depression levels or worse. They just play with the numbers to hide it lest people realize how bad it is.

In early 2000's, when I got laid off, I would have another job within a few hours. We're talking a +$25/hr gig. In fact one time, I actually took my last check and had a blast with it because I knew I'd have another job in less than 24 hours. Nowadays..................still looking.