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Title: A Holiday Note to Congress: Half of Your Country is In or Near Poverty
Source: Information Clearing House
URL Source: http://www.informationclearinghouse.info/article43723.htm
Published: Dec 14, 2015
Author: Paul Buchheit
Post Date: 2015-12-14 20:24:41 by U don't know me
Keywords: None
Views: 1863
Comments: 19

A Holiday Note to Congress: Half of Your Country is In or Near Poverty

By Paul Buchheit

December 14, 2015 "Information Clearing House" - Recent reports have documented the growing rates of impoverishment in the U.S., and new information surfacing in the past 12 months shows that the trend is continuing, and probably worsening.

Congress should be filled with guilt — and shame — for failing to deal with the enormous wealth disparities that are turning our country into the equivalent of a 3rd-world nation.

Half of Americans Make Less than a Living Wage

According to the Social Security Administration, over half of Americans make less than $30,000 per year.

That’s less than an appropriate average living wage of $16.87 per hour, as calculated by Alliance for a Just Society (AJS), and it’s not enough — even with two full-time workers — to attain an “adequate but modest living standard” for a family of four, which at the median is over $60,000, according to the Economic Policy Institute.

AJS also found that there are 7 job seekers for every job opening that pays enough ($15/hr) for a single adult to make ends meet.

Half of Americans Have No Savings

A study by Go Banking Rates reveals that nearly 50 percent of Americans have no savings. Over 70 percent of us have less than $1,000. Pew Research supports this finding with survey results that show nearly half of American households spending more than they earn. The lack of savings is particularly evident with young adults, who went from a five-percent savings rate before the recession to a negative savings rate today.

Emmanuel Saez and Gabriel Zucman summarize: “Since the bottom half of the distribution always owns close to zero wealth on net, the bottom 90% wealth share is the same as the share of wealth owned by top 50-90% families.”

Nearly Two-Thirds of Americans Can’t Afford to Fix Their Cars

The Wall Street Journal reported on a Bankrate study, which found 62 percent of Americans without the available funds for a $500 brake job. A Federal Reserve survey found that nearly half of respondents could not cover a $400 emergency expense.

It’s continually getting worse, even at upper-middle-class levels. The Wall Street Journal recently reported on a JP Morgan study’s conclusion that “the bottom 80% of households by income lack sufficient savings to cover the type of volatility observed in income and spending.”

The Middle Class Is Disappearing

Market watchers rave about ‘strong’ and even ‘blockbuster’ job reports. But any upbeat news about the unemployment rate should be balanced against the fact that nine of the ten fastest growing occupations don’t require a college degree. Jobs gained since the recession are paying 23 percent less than jobs lost. Low-wage jobs (under $14 per hour) made up just 1/5 of the jobs lost to the recession, but accounted for nearly 3/5 of the jobs regained in the first three years of the recovery.

Furthermore, the official 5% unemployment rate is nearly 10% when short-term discouraged workers are included, and 23% when long-term discouraged workers are included. People are falling fast from the ranks of middle-class living. Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with debt-driven negative wealth.

Members of Congress, comfortably nestled in bed with millionaire friends and corporate lobbyists, are in denial about the true state of the American middle class. The once-vibrant middle of America has dropped to lower-middle, and it is still falling.

Paul Buchheit is a college teacher with formal training in language development and cognitive science. He is the founder and developer of social justice and educational websites (UsAgainstGreed.org, RappingHistory.org, PayUpNow.org), and the editor and main author of "American Wars: Illusions and Realities" (Clarity Press). He can be reached at paul@UsAgainstGreed.org.

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#1. To: U don't know me (#0)

Furthermore, the official 5% unemployment rate is nearly 10% when short-term discouraged workers are included, and 23% when long-term discouraged workers are included. People are falling fast from the ranks of middle-class living. Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with debt-driven negative wealth.

Welfare economics hasn't helped anyone ... except voter registration --- to the dnc party !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-14   20:31:19 ET  Reply   Trace   Private Reply  


#2. To: U don't know me (#0)

How you fix this is to get rid of laisse faire capitalism and regulate profits and wages. The idea that a corporation should be run only for the benefit of the stockholders is a very big part of this problem. Labour unions also bear part of the blame for making outlandish demands. A certain degree of protectionism is also needed free trade agreements are not the workers friend

paraclete  posted on  2015-12-14   21:25:36 ET  Reply   Trace   Private Reply  


#3. To: U don't know me (#0)

A Holiday Note to Congress: Half of Your Country is In or Near Poverty

A Holiday Note to the people of this country: Congress doesn't give a damn. It struts around in fancy clothes with pockets full of money and eating good food while being worshipped for being able to being able to string inspiring words together from impressive positions and titles.

rlk  posted on  2015-12-14   22:58:46 ET  Reply   Trace   Private Reply  


#4. To: U don't know me (#0) (Edited)

Congress should be filled with guilt — and shame —

True,but they are shamless and all they care about is the bank accounts being updated and party backing to insure they get the votes to stay in office.

for failing to deal with the enormous wealth disparities that are turning our country into the equivalent of a 3rd-world nation.

No,for trying to turn America INTO A THIRD WORLD NATION BY IMPORTING THE THIRD WORLD TO OUR COUNTRY AND MAKING THE PETS OF THE TAXPAYERS.

for failing to deal with the enormous wealth disparities that are turning our country into the equivalent of a 3rd-world nation.

Anybody that thinks there are a large number of Americans living in poverty must have grown up in some place like Beverly Hills,and never been out of the country. MIDDLE-CLASS people in most of the world dream of living a life of comfort like Americans and Third World Trash on welfare live in this country.

The Wall Street Journal reported on a Bankrate study, which found 62 percent of Americans without the available funds for a $500 brake job.

Where do brake jobs cost $500 unless you are driving a Ferrari,Porsche,etc,etc,etc? I see brake job specials advertised all the time for less than 80 dollars. The only way it could cost 500 is if you have an expensive import and take it to the dealer for service. How many people living in poverty drive expensive imported cars?

Once again,the voices of inherited wealth are speaking.

A Federal Reserve survey found that nearly half of respondents could not cover a $400 emergency expense.

I bet they could if they gave up their expensive smart phones,and unlimited text,voice,and downloading.

Paul Buchheit is a college teacher with formal training in language development and cognitive science. He is the founder and developer of social justice and educational websites (UsAgainstGreed.org, RappingHistory.org, PayUpNow.org), and the editor and main author of "American Wars: Illusions and Realities" (Clarity Press). He can be reached at paul@UsAgainstGreed.org.

Is it just me,or does Paul sound like a greedy and envious SOB with an AA degree?

Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012)

American Indians had open borders. Look at how well that worked out for them.

sneakypete  posted on  2015-12-15   8:38:14 ET  Reply   Trace   Private Reply  


#5. To: BorisY (#1)

Welfare economics did not do this.

War did. Foreign adventurism. Free trade. Open borders. Crony capitalism affecting all areas of taxation and regulation. The unwilling to hire our own at a fair wage, preferring instead to import labor and export jobs.

That is what killed us.

The welfare net is there to keep the people screwed by those things from starving on the street or rebelling.

Typically, folks like you want to attack the poor and take away the safety net also.

Instead of taking away the safety net, we need to reform our government to be like what God established.

Vicomte13  posted on  2015-12-15   13:44:06 ET  Reply   Trace   Private Reply  


#6. To: Vicomte13 (#5) (Edited)

safety net

Fish farm - hatchery - GMO !

DNC - Hamas - isis - black lives matter ... rape - riot - pillage - plunder - sudden jihad syndrome --- what's the difference !

Half of soc sec goes to casinos ... 90 % of welfare --- drugs - cheap wine - crack cocaine !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   14:01:07 ET  Reply   Trace   Private Reply  


#7. To: BorisY (#6)

Fish farm - hatchery - GMO !

DNC - Hamas - isis - black lives matter ... rape - riot - pillage - plunder - sudden jihad syndrome --- what's the difference !

Half of soc sec goes to casinos ... 90 % of welfare --- drugs - cheap wine - crack cocaine !

Can I get a translations on this?

Justified  posted on  2015-12-15   14:36:04 ET  Reply   Trace   Private Reply  


#8. To: Justified (#7)

Isaiah 30:10

They say to the seers, "See no more visions!" and to the prophets, "Give us no more visions of what is right! Tell us pleasant things, prophesy illusions.

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   14:47:05 ET  Reply   Trace   Private Reply  


#9. To: U don't know me (#0)

According to the Social Security Administration, over half of Americans make less than $30,000 per year.

That’s less than an appropriate average living wage of $16.87 per hour, as calculated by Alliance for a Just Society (AJS), and it’s not enough

That statistical manipulation is misleading. The SSA data for this 51% of "wage earners" includes a cumulative 90,857,585 wage earners.

22,274,440 earn $0.01 to $4,999.99 for an average amount of $2,066.40. At $10/hr WalMart wage, that is 207 hours for the year. Full time calculates to 2080 hours. 207 hours at $16.87 would amount to $3492.09 for the year.

This statistical manipulation is taking an average of the 51% of all persons earning a penny or more per year, and talking about an hourly wage based on full time work that is not being performed. 60 million part-time or half-time, or occasional workers thrown into the mix renders the derived statistic misleading or incoherent.

13,423,281 earned from $5,000.00 to $9,999.00 for an average amount of $7,407.62. At 10/hr wage, that accounts for 741 hours of work for the year.

12,329,270 earned from $10,000.00 to $14,999.99 for an average amount of $12,455.47. At 10/hr wage, that accounts for 1246 hours of work for the year.

11,505,776 earned from $15,000.00 to $19,999.99 for an average amount of $17,458.90. At 10/hr wage, that accounts for 1746 hours of work for the year.

And that is a cumulative 60,258,327 of the 90,858,585 who make up the identified 51% of wage earners.

https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2014

Median household income is tracked by the Census Bureau.

https://research.stlouisfed.org/fred2/series/MEHOINUSA672N

https://research.stlouisfed.org/fred2/data/MEHOINUSA672N.txt

Title: Real Median Household Income in the United States
Series ID: MEHOINUSA672N
Source: US. Bureau of the Census
Release: Income and Poverty in the United States
Seasonal Adjustment: Not Seasonally Adjusted
Frequency: Annual
Units: 2014 CPI-U-RS Adjusted Dollars
Date Range: 1984-01-01 to 2014-01-01
Last Updated: 2015-10-21 1:11 PM CDT
Notes: Household data are collected as of March.

As stated in the Census's "Source and Accuracy of Estimates for Income, Poverty, and Health Insurance Coverage in the United States: 2011" (http://www.census.gov/hhes/www/p60_243sa.pdf)

Estimation of Median Incomes. The Census Bureau has changed the methodology for computing median income over time. The Census Bureau has computed medians using either Pareto interpolation or linear interpolation. Currently, we are using linear interpolation to estimate all medians. Pareto interpolation assumes a decreasing density of population within an income interval, whereas linear interpolation assumes a constant density of population within an income interval. The Census Bureau calculated estimates of median income and associated standard errors for 1979 through 1987 using Pareto interpolation if the estimate was larger than $20,000 for people or $40,000 for families and households. This is because the width of the income interval containing the estimate is greater than $2,500.

We calculated estimates of median income and associated standard errors for 1976, 1977, and 1978 using Pareto interpolation if the estimate was larger than $12,000 for people or $18,000 for families and households. This is because the width of the income interval containing the estimate is greater than $1,000. All other estimates of median income and associated standard errors for 1976 through 2011 (2012 ASEC) and almost all of the estimates of median income and associated standard errors for 1975 and earlier were calculated using linear interpolation.

Thus, use caution when comparing median incomes above $12,000 for people or $18,000 for families and households for different years. Median incomes below those levels are more comparable from year to year since they have always been calculated using linear interpolation. For an indication of the comparability of medians calculated using Pareto interpolation with medians calculated using linear interpolation, see Series P-60, Number 114, Money Income in 1976 of Families and Persons in the United States (www2.census.gov/prod2/popscan/p60-114.pdf).

DATE ........ VALUE
1984-01-01 48664
1985-01-01 49574
1986-01-01 51329
1987-01-01 51973
1988-01-01 52372
1989-01-01 53306
1990-01-01 52623
1991-01-01 51086
1992-01-01 50667
1993-01-01 50421
1994-01-01 51006
1995-01-01 52604
1996-01-01 53345
1997-01-01 54443
1998-01-01 56445
1999-01-01 57843
2000-01-01 57724
2001-01-01 56466
2002-01-01 55807
2003-01-01 55759
2004-01-01 55565
2005-01-01 56160
2006-01-01 56598
2007-01-01 57357
2008-01-01 55313
2009-01-01 54925
2010-01-01 53507
2011-01-01 52690
2012-01-01 52605
2013-01-01 54462
2014-01-01 53657

nolu chan  posted on  2015-12-15   16:39:20 ET  Reply   Trace   Private Reply  


#10. To: Justified (#7)

BorisY

Fish farm - hatchery - GMO ! DNC - Hamas - isis - black lives matter ... rape - riot - pillage - plunder - sudden jihad syndrome --- what's the difference !

Half of soc sec goes to casinos ... 90 % of welfare --- drugs - cheap wine - crack cocaine !

Justified - Can I get a translations on this?

Sure: "I - am - batshit - crazy - ! - ! - ! - ! - ! - !"

(Because if you don't use exclamation points, you're not hysterical enough to be writing on the Internet, natch...)

Vicomte13  posted on  2015-12-15   16:41:57 ET  Reply   Trace   Private Reply  


#11. To: Vicomte13 (#10)

L.M.A.O

ebonytwix  posted on  2015-12-15   17:27:11 ET  Reply   Trace   Private Reply  


#12. To: ebonytwix (#11)

90 % of welfare --- drugs - cheap wine - crack cocaine !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   20:58:14 ET  Reply   Trace   Private Reply  


#13. To: Vicomte13 (#10)

"I - am - batshit - crazy - ! - ! - ! - ! - ! - !"

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   20:59:36 ET  Reply   Trace   Private Reply  


#14. To: BorisY (#13)

"I - am - batshit - crazy - ! - ! - ! - ! - ! - !"

I know. It's one of the reasons I love your posts.

They're the journalistic equivalent of Jason Pollock meets Salvador Dali.

Vicomte13  posted on  2015-12-15   22:00:57 ET  Reply   Trace   Private Reply  


#15. To: Vicomte13 (#14)

There's a written history of the ages ... in a few sentences in the book of Daniel --- I'll explain them to you !

Something about only ... one figure - four kingdoms --- head of gold (( Babylon )) - toes of iron - clay (( rome - Europe )) !

The fifth is ... the Christian era --- the eternal kingdom !

The sixth is the ... pope obomba America --- you're being sucked into it !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   22:37:56 ET  Reply   Trace   Private Reply  


#16. To: BorisY (#15) (Edited)

If the fifth era is the "Eternal" Kingdom, then why is there a sixth at all?

Vicomte13  posted on  2015-12-15   22:45:29 ET  Reply   Trace   Private Reply  


#17. To: Vicomte13 (#16)

yes we con - hoax - chains !

Did you ever hear about wailing - gnashing of teeth !

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   22:48:45 ET  Reply   Trace   Private Reply  


#18. To: BorisY (#17)

Sure, Jesus said that those bound outside in darkness will be wailing and gnashing their teeth.

Vicomte13  posted on  2015-12-15   22:50:57 ET  Reply   Trace   Private Reply  


#19. To: Vicomte13 (#18)

Isaiah 30:10

They say to the seers, "See no more visions!" and to the prophets, "Give us no more visions of what is right! Tell us pleasant things, prophesy illusions.

If you ... don't use exclamation points --- you should't be typeing ! Commas - semicolons - question marks are for girlie boys !

BorisY  posted on  2015-12-15   22:55:16 ET  Reply   Trace   Private Reply  


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