under the Obama tax plan assuming I make what I did this year. oh well, I'm sure govt knows how to spend my money better than I do.
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If you are so well off that the "Obama tax plan" will nail down another 30K of your pay, then either you must be doing very well in the current economy or you are just hosing us.
My bottom line had dropped 35% Under President Obama.
Skippy
Contendah, maybe the thirty thousand would be spent on a new truck or boat built by a middle class wage earner. But with this story repeating itself over and over, it ain't a pretty picture. I hope folks like Kenny keep making money, and spending it on golf clubs, recreational vehicles and all kinds of American middle class made toys. But since most obuma voters are moochers they don't get the picture. Stick it to the rich don't work for me and it doesn't work for most working people.
You earnings are largely your own doing apply yourself in school learn a good trade, go to college and get a in demand degree or be self employed. Combine this with staying out of trouble, not covering your whole body with tattoos piercing etc and you will be off to a good start. What is your idea everyone make 50k?
You earnings are largely your own doing apply yourself in school learn a good trade, go to college and get a in demand degree or be self employed. Combine this with staying out of trouble, not covering your whole body with tattoos piercing etc and you will be off to a good start. What is your idea everyone make 50k?
That used to be the recipe: Study hard; get good grades; go to college; get a good job; work hard; and you'll do OK. You may even prosper if things turn out better. A lucky few will even get rich.
That was before those who control the levers of economic power also bought control of the government and began to choke the life out of what used to be a prospering middle class.
In post-recession America, it’s a coin toss whether college graduates will wind up fully employed.
Nearly 50% of grads over the last five years are unemployed or underemployed, according to a Rutgers University study released Thursday.
The research compared the job outlook for “post-recession” grads with that of graduates before the U.S. economic collapse in 2008.
Declining opportunity for even top students is squashing optimism in today’s youth, most of whom worry the American Dream is beyond their reach, researchers found.
You can't convince me that this is because half of college graduates studied for a useless major like Art Appreciation, or some such.
The crash of 2008 for most people could be compared to a home invasion and attempted murder. As you can see from the chart below, there was a large shift from middle income to low income. High income remained virtually unchanged.
The low-wage jobs explosion
NEW YORK (CNNMoney) – Sure, the economy is adding jobs these days, but most of those positions pay pretty poorly.
Some 58% of the jobs created during the recovery have been low-wage positions, according to a new report by the National Employment Law Project. Only 22% have been mid-wage jobs and 20% higher-wage positions. These low-wage jobs pay $13.83 an hour or less.
“The recovery continues to be skewed toward low-wage jobs, reinforcing the rise in inequality and America’s deficit of good jobs,” said Annette Bernhardt, NELP’s policy co-director. “While there’s understandably a lot of focus on getting employment back to pre-recession levels, the quality of jobs is rapidly emerging as a second front in the struggling recovery.”
The explosion in low-wage job growth comes after the Great Recession hammered the mid-wage job sector. Some 60% of the jobs lost during the downturn were mid-wage, as opposed to 21% of low-wage and 19% of higher-wage positions.
The fastest growing low-wage jobs include retail salespeople, food prep workers, laborers and freight workers, waiters and waitresses, personal and home care aides, office clerks and customers representatives.
Employment in low-wage jobs has been expanding since the start of the century, rising 8.7% since the beginning of 2001. Mid-wage employment, meanwhile, dropped 7.3%. High-wage staffing rose by 6.6%.
“The economy has fewer good jobs now than it did at the start of the 21st century,” said Bernhardt.
Well you just voted in a guy who will probably legalize millions of illegals putting further pressure on the middle class. Our immigration policy was set up to keep us from being over run by a low skilled, uneducated people. However the republicans do nothing about it for the cheap labor and the democrats do nothing for the votes. This results in artificially lower income for Americans and combined with off-shoring everything they can is killing the middle class.
Future companies will be limited to 49 employees or less, and many full time workers will be held to 29 hours per week. Companies will have two sets of employees sharing the same job. Many companies will find it much cheaper to pay the $2K penalty for not providing insurance than $5K per employee for insurance. The Baby Boomers that inherited Daddy's company have their needs covered, and they'll be selling out and moving to third world tax havens, like the Caymans, Bermuda or Florida. ADIOS!
I don't understand your point?
The only satisfaction I will get is when the people that swear that W only cut taxes for the rich, receive a smaller pay check because the Bush tax cuts are let expire.
And I will be one with a smaller payday because they are let expire, but at least it will be across the board. Not targeted at one group.