Originally Posted By: Gary Allan
Originally Posted By: Gene K
Originally Posted By: Gary Allan
Originally Posted By: Gene K
Well one thing I do think is kind of silly is all the moaning about the shrinking of the middle class in the USA.
It depends on exactly how you define it but:
The percentage of people living below the poverty line has remained essentially the same. So Im supposed to be upset because the middle class is shrinking because more people are entering the upper class?
I have to catch your act when it comes to town. If this is a sampling of the material, you've got to bring the house down.
Gary Im not just talking about over a couple of years (recent recession) Im talking about over the decades politicians have been decrying this. Theirs a reason they talk about the shrinking middle class instead of the growing lower class.
In 1969 12% of Americans were poor and in 2007.... 12%
I have a feeling that it is more due to retirement and social security and a couple of other things like the expansion of the public sector
..but I'll ask you point blank..
Are you suggesting ..with all the increased debt ..public and private ..all the unemployment (under reported due to fuzzy stats) ...all the increases in costs ...
..that, on average, the American population is richer than it was ..let's say 1973? 1985? Heck, 2001?
Is that something you would attempt to sell?
All I know is the percentage of Americans in the Upper Income Brackets are increasing and the percentage of poor is holding relatively steady while the middle class apparently shrinks. Im not trying to claim anything. Most of the people I know have increased expenses (relative) because they buy more. We didnt need (want) Smart Phones, Sat Radio or 5 TV's in the past. We also were not paying interest on 60,000 in Credit Card Debt. If we lived the same way we did 40 years ago our expenses wouldnt be as high.