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How the middle class became the underclass

Discussion in 'Political Discussion' started by reflexblue, Feb 16, 2011.

  1. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    Exactly wages have been flat for years, one of the reasons people are up in arms about taxes and cities and states are having such a hard. People are just being paid less. If taxes are going up and your making the same amount you were ten or twenty years ago its taking a bigger chunk out of they're pocket books. People start charging and in the end can't pay.

    How the middle class became the underclass - Feb. 16, 2011

    NEW YORK (CNNMoney) -- Are you better off than your parents?

    Probably not if you're in the middle class.

    Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.
  2. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    We need a Riot.

    End the wars.
    Close Gitmo.
    Seal the borders.
    Find Obama's Birth Certificate.
    Stop Slobbering

    Then watch the money roll in, bring America back to what it once was if we don't our grandchildren will be living in a Third World Sh!t Hole.


    :bricks:
  3. The Brandon Five

    The Brandon Five Rookie

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    #75 Jersey

    There are trade-offs though. While incomes have stagnated or fallen, benefits provided by employers have increased (or at the least the cost of them have).

    What was total compensation (the value of salary and all benefits) in 1988? What is it now?

    You can't get all of the things we have now (technologically and medically speaking) without all of the changes that happened at the same time. I'm not saying I'm happy that I am paid less, just that there are other things we have gained that you have to take into account when comparing two points in time.
  4. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    I would say health insurance has gone up quite a bit , much more than general inflation. I would still rather have my wages go up.
  5. The Brandon Five

    The Brandon Five Rookie

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    #75 Jersey

    Agreed. But what would you be willing to give up in exchange?
    Last edited: Feb 16, 2011
  6. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    #91 Jersey

    As in what? Paid vacation, pension? what? ....If i got paid more i could put more money into investments, like the stock market, my house, or jsut stuff it in a mattress, which in the end would mean i would have to rely less on entitlements.
    Last edited: Feb 16, 2011
  7. Real World

    Real World Moderator Staff Member

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    There's just not enough information in that article to properly analyze their point. Most people understand that today it's income plus benefits that really make up earnings, whereas that might not have been the case in 1980.

    Think about 1980 too. How many homes had one working parent? One car, one TV, one phone line, etc.
  8. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    I'm fairly certain that a higher percentage of jobs in the 1980s had some sort of pension or retirement package. Other than union, federal, or military jobs, I don't think it's nearly as common now, and even people that had retirement packages (such as my father) have since lost them or have seen them slashed significantly. Between that and the much higher cost of health care, I'm a firm believer that the stagnating middle class wages are a major part of our economic woes, and that the middle class in this country will be mostly gone before I die.

    The erosion of the middle class has been a major indicator of future instability throughout the last century. I'm not the doom and gloom type, but this is an unnerving trend.
    Last edited: Feb 16, 2011
  9. wistahpatsfan

    wistahpatsfan Rookie

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    Tarrifs and protectionism, anyone? Scrap NAFTA? Controls on US corporate activities outside our borders?

    The erosion of the middle class is due to the shifting of wealth upward and the loss of manufacturing jobs.
  10. Nikolai

    Nikolai Football Atheist PatsFans.com Supporter

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    #54 Jersey

    This goes back to that old saying of "what hill do you want to die on?"

    I have libertarian tendencies, but I'm willing to compromise on issues that affect national security and prosperity.

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