iBankCoin
Joined Nov 11, 2007
31,930 Blog Posts

State of the Union: You are Fucked!

“If you make more than $27,520 a year at your job, you are doing better than half the country is.  But you don’t have to take my word for it, you can check out the latest wage statistics from the Social Security administration right here.  But of course $27,520 a year will not allow you to live “the American Dream” in this day and age.  After taxes, that breaks down to a good bit less than $2,000 a month.  You can’t realistically pay a mortgage, make a car payment, afford health insurance and provide food, clothing and everything else your family needs for that much money.  That is one of the reasons why both parents are working in most families today.  In fact, sometimes both parents are working multiple jobs in a desperate attempt to make ends meet.  Over the years, the cost of living has risen steadily but our paychecks have not.  This has resulted in a steady erosion of the middle class.  Once upon a time, most American families could afford a nice home, a couple of cars and a nice vacation every year.  When I was growing up, it seemed like almost everyone was middle class.  But now “the American Dream” is out of reach for more Americans than ever, and the middle class is dying right in front of our eyes.

One of the things that was great about America in the post-World War II era was that we developed a large, thriving middle class.  Until recent times, it always seemed like there were plenty of good jobs for people that were willing to be responsible and work hard.  That was one of the big reasons why people wanted to come here from all over the world.  They wanted to have a chance to live “the American Dream” too.

But now the American Dream is becoming a mirage for most people.  No matter how hard they try, they just can’t seem to achieve it.

And here are some hard numbers to back that assertion up.  The following are 15 more signs that the middle class is dying…

#1 According to a brand new CNN poll, 59 percent of Americans believe that it has become impossible for most people to achieve the American Dream…”

Full article

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2 comments

  1. drummerboy

    funny how i used to pound out 80-110 hours a week for years on end,as the guys i worked with,we would all compete to see who could take down the most o.t for the week.my old man used to say,”if you got to work more than 40 hours a week,your in the wrong line of work”.if you were pounding down 50k a year back in the mid 80’s like i did,was i any better off then, or better off now? but let me remind you of one thing, back then mortgage rates were over 9%-10%.so 50 k today,@4.5% rates? my ex was a stay at home mom,and did 1200.00 a month cutting hair in the basement.this whole paradigm shift in employment in this country is directly related for the whole reason for the “demise” of the “middle”. HOWEVER GOES G.M.,SO GOES THE COUNTRY. they HAD to file bankruptcy.that is the only way any company can break their charter with a union,and dissolve any means for employees to complain. gm took a powder

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  2. CRONKITE

    despitethe higher rates i think you were better off then as 50k had more purchasing power.

    also consumerism back then was no where near what it is today…i mean does anybody need a t.v. in every room?

    smartphones are cool, but that expense was not there either.

    you recorded music off the radio instead of buying songs for $0.99.

    as far as $GM and manufacturing goes….well that is all true and the only jobs left to grab for the middle was lower wage service sector jobs.

    given the statistics in the story above even if your making good coin you’re still fucked for the shear amount of trouble most of the country is going through.

    the walls of jericho…….

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