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Old 07-26-2014, 02:29 PM   #1
toubab
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The Typical Household, Now Worth a Third Less

http://www.nytimes.com/2014/07/27/bu...less.html?_r=0

"Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

The Russell Sage study also examined net worth at the 95th percentile. (For households at that level, 94 percent of the population had less wealth and 4 percent had more.) It found that for this well-do-do slice of the population, household net worth increased 14 percent over the same 10 years. Other research, by economists like Edward Wolff at New York University, has shown even greater gains in wealth for the richest 1 percent of households."

We are in deep shit, people, most of us, and it's getting deeper.
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Old 07-26-2014, 04:41 PM   #2
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I lecture my grandkids about vocational reality and they blow it off believing the real problem is stingy greedy employers. I mean, all the teachers here insist on the same pay MDs make, cuz teachers are professionals, too.
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Old 07-26-2014, 04:51 PM   #3
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Originally Posted by toubab View Post
We are in deep shit, people, most of us, and it's getting deeper.
And it will eventually drown you...

...which is natural for all those who insist on manning a sinking ship.

A rational man would heed the reality that the Titanic is going down, jump off, and start swimming for his life, no matter the odds against him...

...so, in the big picture, it's simply evolution weeding its way again.
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Old 07-26-2014, 04:52 PM   #4
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Originally Posted by JAMESBJOHNSON View Post
I lecture my grandkids about vocational reality and they blow it off believing the real problem is stingy greedy employers. I mean, all the teachers here insist on the same pay MDs make, cuz teachers are professionals, too.
I haven't even tried to figure out all the reasons why this is happening, or what to do about it now or in the future, or what to tell my kids to do about work or continuing education, or anything else. I'm getting to the point where I think nobody knows what to do about it all.
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Old 07-26-2014, 04:55 PM   #5
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Originally Posted by eyer View Post
And it will eventually drown you...

...which is natural for all those who insist on manning a sinking ship.

A rational man would heed the reality that the Titanic is going down, jump off, and start swimming for his life, no matter the odds against him...

...so, in the big picture, it's simply evolution weeding its way again.
Swim where?
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Old 07-26-2014, 05:07 PM   #6
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Swim where?
You know the old saying:

If you gotta ask
...
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Old 07-26-2014, 05:09 PM   #7
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Originally Posted by eyer View Post
You know the old saying:

If you gotta ask
...
I guess I gotta ask.
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Old 07-26-2014, 05:19 PM   #8
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You know the old saying:

If you gotta ask
...
...some smug prick ain't gonna tell ya.
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Old 07-26-2014, 05:22 PM   #9
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we can blame the obama socialist as they do not want you to own a home. they want you to be in government housing
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Old 07-26-2014, 05:33 PM   #10
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we can blame the obama socialist as they do not want you to own a home. they want you to be in government housing
I'll take you seriously and say it's too easy to blame it on one man or one party. It goes way deeper than that. Way deeper and way broader. Seriously.
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Old 07-26-2014, 05:35 PM   #11
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When the government decides to target the rich, when it taxes progressively, two things happen:

The very rich remove themselves from the rolls.

The business class passes on its costs to the middle class.



The more you try to do to ameliorate this condition with government, the worse it gets.
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Old 07-26-2014, 05:37 PM   #12
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Originally Posted by toubab View Post
I guess I gotta ask.
I understand.

Problem is, almost exclusively, those who "gotta"...

...clearly don't possess the will to do so, anyway.

The exceptions to that rule, at the proverbial moment of truth, somehow find that fortitude which has always before eluded them...

...but, sad to say the cluelessness, yea helplessness, you project in one of your posts above practically bars that fortitude from ever having a chance of finding you.

Seriously, you and yours only have two chances at free survival:

1. Somehow you man-up and start positively acting against the danger you know is coming so that you and your family at least have some sort of chance, or

2. Hope and pray that someone else in your family mans-up for you.

The paralyzing death trap is succumbing to not knowing what to do...

...liberation, whatever slim chance their may be for it, only comes to those who courageously throw that deceptive caution to the wind and boldly strive forward because all they do know is any hope whatsoever lies in that direction.

I can't imagine a more harrowing realization to a lemming than when he finally understands the cliff is straight ahead and the utopia he's always bought into is finally proven to be just that...
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Old 07-26-2014, 05:38 PM   #13
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Originally Posted by 4est_4est_Gump View Post
When the government decides to target the rich, when it taxes progressively, two things happen:

The very rich remove themselves from the rolls.

The business class passes on its costs to the middle class.



The more you try to do to ameliorate this condition with government, the worse it gets.
How does that jibe with the fact the rich are getting richer over the last ten years, while everyone else is getting poorer?
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Old 07-26-2014, 05:40 PM   #14
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Originally Posted by eyer View Post
I understand.

Problem is, almost exclusively, those who "gotta"...

...clearly don't possess the will to do so, anyway.

The exceptions to that rule, at the proverbial moment of truth, somehow find that fortitude which has always before eluded them...

...but, sad to say the cluelessness, yea helplessness, you project in one of your posts above practically bars that fortitude from ever having a chance of finding you.

Seriously, you and yours only have two chances at free survival:

1. Somehow you man-up and start positively acting against the danger you know is coming so that you and your family at least have some sort of chance, or

2. Hope and pray that someone else in your family mans-up for you.

The paralyzing death trap is succumbing to not knowing what to do...

...liberation, whatever slim chance their may be for it, only comes to those who courageously throw that deceptive caution to the wind and boldly strive forward because all they do know is any hope whatsoever lies in that direction.

I can't imagine a more harrowing realization to a lemming than when he finally understands the cliff is straight ahead and the utopia he's always bought into is finally proven to be just that...
What a load of bullshit that was.
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Old 07-26-2014, 05:42 PM   #15
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Originally Posted by toubab View Post
How does that jibe with the fact the rich are getting richer over the last ten years, while everyone else is getting poorer?
When the government gets powerful enough to fight over, the people will fight over it, and to the victors go the spoils, thus setting up the next fight (Until they reach the point when the internecine struggling has left them too weak, to divided, and too economically poor to oppose the ruling Oligarchy).
A_J, the Stupid

The more government impedes upon the market with good intention and positive interference, the more expensive that market becomes and the maxim that you get what you pay for becomes outed as an out-and-out lie.
A_J, the Stupid

The more government seeks to do in our behalf, the less we are able to do on our own behalf because we finance government with our labor; government does not support us because it cannot supply any labor, it can only appropriate it.
A_J, the Stupid

The more distant and powerful your government, the more likely it is to be dominated and controlled by just a very small group of people.
A_J, the Stupid

When Government gets so powerful that its purchase price is cost effective, even imperative, to business, then business will purchase government indulgences.
A_J, the Stupid

The more government is asked to do on your behalf, the less it can actually get accomplished.
A_J, the Stupid

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Old 07-26-2014, 05:46 PM   #16
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Are the poor getting poorer because the value of the 'things' they own have gone down, or because they don't have as much in savings, or because the dollar is worth less.....

Putting todays poor beside the poor of say, 100 years ago, I'd say today they aren't poor.
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Old 07-26-2014, 05:50 PM   #17
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Are the poor getting poorer because the value of the 'things' they own have gone down, or because they don't have as much in savings, or because the dollar is worth less.....

Putting todays poor beside the poor of say, 100 years ago, I'd say today they aren't poor.


its not easy being the obama, it takes money. the poor have to pay their fair share to support his ignorant ass
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Old 07-26-2014, 05:51 PM   #18
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Originally Posted by warrior queen View Post
Are the poor getting poorer because the value of the 'things' they own have gone down, or because they don't have as much in savings, or because the dollar is worth less.....

Putting todays poor beside the poor of say, 100 years ago, I'd say today they aren't poor.


If the Fed pumps more money into the economy, then of course business will rush to to "free" money and the economy will boom. Because free money equals investment, not consumer demand.



Human Action
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Old 07-26-2014, 06:06 PM   #19
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There are too many low paying jobs in this country. We have the service industry...that's it.

We're an energy rich country, we could exploit it, with high paying jobs. But, nope, Obama hates energy.

The pay gap will not change until Obama is gone.

We need to exploit our energy now....fuck the environment, till we get back on our feet.
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Old 07-26-2014, 06:14 PM   #20
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Originally Posted by JAMESBJOHNSON View Post
I lecture my grandkids about vocational reality and they blow it off believing the real problem is stingy greedy employers.
Pretty much, yeah.
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"I am conscious that an equal division of property is impracticable, but the consequences of this enormous inequality producing so much misery to the bulk of mankind, legislators cannot invent too many devices for subdividing property, only taking care to let their subdivisions go hand in hand with the natural affections of the human mind. . . . Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions or property in geometrical progression as they rise. Whenever there are in any country uncultivated lands and unemployed poor, it is clear that the laws of property have been so far extended as to violate natural right."

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Old 07-26-2014, 06:22 PM   #21
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Everything you buy is basically marked up at least fifty percent and turns to worthless junk in three years and real estate is made useless by excessive government regulation and taxation.
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Is it still a stone or a world made of redness?
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Last edited by sufisaint : 07-26-2014 at 06:28 PM.
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Old 07-26-2014, 06:22 PM   #22
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Just because someone is born poor, that doesn't mean that they have to stay poor. Dad came to the US from a working class family with very little money in his pocket, but he had a strong will to succeed and was willing to work long hard hours to do so. He instilled in his kids at a young age the importance of a strong work ethic, a good education, and the need to live frugally and not to rely on anyone else for our own welfare. Over the years he literally worked his way from the mail room to the Board room, but regardless, we always bought used cars and were the last family I knew to get a color television back in the day.

The lessons to accrue wealth should begin at home, and at an early age. There are many people during the past ten years who did not buy homes or cars they could not afford. For those caught in a pinch by an unexpected layoff, I'd be curious to know how many had put significant money aside to carry them through the rough spots.

Catastrophic uninsured medical expenses should be just about the only reason for significant wealth diminution, unless one sits on one's hands and is oblivious to one's surroundings.

Fire away.
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Old 07-26-2014, 06:26 PM   #23
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What a load of bullshit that was.
toubab, toubab, toubab of the Jungle
Strong as he can be
Watch out for that tree!


Remember your comment above...

...when any cash money you happen to have left is literally the cheapest thing you can feed your family with.
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Old Yesterday, 11:06 PM   #24
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A bunch of assistant managers were I work had to step down and take a 25 percent pay cut. Most of them did because the job market is so bad.

Now managers are next.
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Old Yesterday, 11:12 PM   #25
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Originally Posted by JAMESBJOHNSON View Post
I lecture my grandkids about vocational reality and they blow it off believing the real problem is stingy greedy employers. I mean, all the teachers here insist on the same pay MDs make, cuz teachers are professionals, too.
Your grandkids are right. Again you're proven to be an old, clueless, and racist fuck. I'd feel sorry for your grandkids -if they were actually real- and you weren't an old, clueless, racist, lying fuck.


You Pay Higher Taxes Than Boeing (and GE, Verizon & 23 More U.S. Corporations)


Feeling the sting of Tax Day today? Prepare to feel even worse—with a look at the 26 U.S. corporations who pay no federal corporate income tax at all. Plus, see how your tax bill compares to the rest of the country.

You may be among the 95 percent of Americans who believe it’s their civic duty to pay their fair share of taxes, but sending a portion of your salary to the IRS still smarts. Even for the more than 100 million who will receive refunds, no day is more agonizing than April 15.

If only we could all be corporations. Although they all start with a flat 35 percent federal tax rate, most employ a team of clever accountants to whittle down their liability—sometimes to nothing at all.

After taking advantage of credits, exemptions, and offshore tax havens, U.S. corporations get away with paying an average of less than 13 percent, according to the Government Accountability Office. What’s more, the GAO found that more than half of them reported owing no federal taxes in at least one year between 1998 and 2005.

According to a study by the advocacy group Citizens for Tax Justice (CTJ), 26 Fortune 500 corporations paid no federal corporate income tax over the most recent five-year period. In fact, according to CTJ, they generated so many tax breaks that they reported negative taxes and often received a rebate check. As procrastinators rush to post offices and computers to file by deadline, let us pause—in anger, jealousy, or admiration—to recognize the corporations who manage to avoid the taxman.





Corporation and 2008-2012 Rate

1. Pepco Holdings -33.0%

2. PG&E Corp. -16.7%

3. NiSource -13.6%

4. Wisconsin Energy -13.5%

5. General Electric -11.1%

6. CenterPoint Energy -8.5%

7. Integrys Energy Group -8.2%

8. Atmos Energy -7.7%

9. Tenet Healthcare -6.0%

10. American Electric Power -5.8%

11. Ryder System -4.7%

12. Con-way -3.5%

13. Duke Energy -3.3%

14. Priceline.com -3.0%

15. FirstEnergy -3.0%

16. Apache -2.4%

17. Interpublic Group -2.1%

18. Verizon Communications -1.8%

19. NextEra Energy -1.6%

20. Consolidated Edison -.1%

21. CMS Energy -1.1%

22. Boeing -1.0%

23. Northeast Utilities -0.7%

24. Corning -0.3%

25. Paccar Rate -0.1%

26. MetroPCS Communications -0.1%
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