FlintTalk.com Forum Index > Political Talk Topic: Income Inequality

Author    Post   Public D F L I N T O I D http://www.pbs.org/now/shows/332/index.html 10 Reasons America's Two-Income Families Aren't What You Think (According to Harvard Law professor and bankruptcy expert Elizabeth Warren) Two-income families today make 75% more in inflation-adjusted dollars, but have less money to spend than one-income families did 30 years ago. Two-income families today spend: 21% less on clothing, 22% less on food, and 44% less on appliances compared to one-income families a generation ago. Every 15 seconds an American family files for bankruptcy. This year, more kids will live through their parents' bankruptcy, than through their parents' divorce. 1.6 million families will file for bankruptcy this year, 9 million more are already in credit counseling. Home mortgage foreclosures are up more than three-fold over the last generation and car foreclosures have hit record levels. More than 62% of families say that they worry about making ends meet. The average family spends 69% more in inflation-adjusted dollars on their home mortgage than their parents spent a generation ago. The average family spends 61% more on health insurance, than their parents spent a generation ago. Credit card default rates are at a record high. Sun Feb 03, 2008 1:33 pm  Dave Starr F L I N T O I D We became a 2 income family when my wife started drawing her Social Security. _________________ I used to care, but I take a pill for that now. Pushing buttons sure can be fun. When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way. Paddle faster, I hear banjos. Sun Feb 03, 2008 2:33 pm  last time here Guest what the hell are you talking about dave.... dubya sez we have a ROBUST economy!!!!!!!! _________________ Guest post Sun Feb 03, 2008 6:42 pm  FlintConservative F L I N T O I D I say again...we do an absolutely horrible job in this country of giving our children any type of financial education. They graduate high school without knowing what a budget is. They graduate high school without knowing how to live within their means. They graduate high school without knowing how to balance a checkbook. It's all about instant gratification. Sun Feb 03, 2008 7:33 pm  Public D F L I N T O I D Conservative, you may be right about financial education but what does that have to do with systematic transfer of wealth from the middle to the tip top? If a high school graduate is a checkbook balancing, budget-following genius, it would not change the fact that his wages do not go as far today as they did a generation ago – despite increased productivity. We'll never fix this if those responsible get a free pass and victims are unfairly blamed. Replace "corporatist elite" for "high school graduates" in your post, and you're much closer to the truth. Mon Feb 04, 2008 10:14 am  Ted Jankowski F L I N T O I D quote: Public D schreef: Conservative, you may be right about financial education but what does that have to do with systematic transfer of wealth from the middle to the tip top? If a high school graduate is a checkbook balancing, budget-following genius, it would not change the fact that his wages do not go as far today as they did a generation ago – despite increased productivity. We'll never fix this if those responsible get a free pass and victims are unfairly blamed. Replace "corporatist elite" for "high school graduates" in your post, and you're much closer to the truth. WHAT HE SAID! Mon Feb 04, 2008 12:55 pm  FlintConservative F L I N T O I D quote: Public D schreef: Conservative, you may be right about financial education but what does that have to do with systematic transfer of wealth from the middle to the tip top? If a high school graduate is a checkbook balancing, budget-following genius, it would not change the fact that his wages do not go as far today as they did a generation ago – despite increased productivity. We'll never fix this if those responsible get a free pass and victims are unfairly blamed. Replace "corporatist elite" for "high school graduates" in your post, and you're much closer to the truth. Your post says 2 income families make 75% more in inflation adjusted dollars and spend less on clothing, food and appliances but 69% more on their home mortgage. Sounds like a lifestyle choice to me. Sounds like they've bought way more house than they can afford. Which causes worry about finances and bankruptcy. Why is that the fault of people at the top? I'm also very curious how you define "middle" class. Mon Feb 04, 2008 3:29 pm    Display posts from previous:   All Posts1 Day7 Days2 Weeks1 Month3 Months6 Months1 Year Oldest FirstNewest First

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