Carter: Middle Class Today = Past`s Poor [Pic+]

Submitted by: SweepOfDeath 3 years ago in

Jimmy Carter says the income gap in the US has increased to the point where the middle class resembles the past"s poor
There are 30 comments:
Male 15,832
[quote]I remember the Carter Era. I was 16. My dad, working just 1 job, could pay for morgage, he had 2 cars, a stay at home wife and raised 4 kids. We had camping trailer and all of us had motorcycles, dirt bike camping weekends were the norm for us. All this at a middle class level. [/quote]
Not everyone did that well. That`s the way these things work. If you were one of the 12% unemployed, or you were watching your life savings being eroded by inflation to the tune of 14% a year, or you were trying to buy your first house with mortgage rates at 18%, things weren`t as nice as they were for your family.

Same thing is true today. Some people are doing just fine today, particularly government employees.
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Male 1,454
because it`s a pyramid scheme, and the few at the top have the most..
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Male 14,835
@Crakr But, Bob, generally speaking, you can`t trust the bastards. They turn on you. Am I wrong or right? - Nixon
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Male 38,501

I remember the Carter Era. I was 16. My dad, working just 1 job, could pay for morgage, he had 2 cars, a stay at home wife and raised 4 kids. We had camping trailer and all of us had motorcycles, dirt bike camping weekends were the norm for us. All this at a middle class level.

No way you can do that on an average middle class salary now. Not and live at the same level we did, which was just middle class, not upper & not lower middle.

Yeah, Middle Class is poorer now.
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Male 645
>>>>You do understand that you only get that 1.5% because the bank (or whatever) that`s giving it to you is investing or loaning that money somewhere and getting exactly the kind of return you would get if you invested it directly, right?

It`s the exact same process. It`s not some magically different thing. If you`re collecting that interest, it means that someone IS moving your money around for you.<<<

Sorry but exactly were did I say it was some magically different thing?

The point was about higher tax rates affecting, adversely, the movement of investment funds to new projects and new idea. Thus slowing the overall growth of the economy and the overall improvement of society.
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Male 645
>>>In any case, I wonder exactly what wide and varied lifestyle choices you imagine lay open for our neolithic ancestors. Was Ug dreaming of being president one day?<<<

The point was relative to the time they lived they had more choice than child slave in NK.
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Male 2,850
@dang007

"I would rather stick with my current 1.5% return, than sell it and pay 70% tax on the earnings and invest in your new idea"

You do understand that you only get that 1.5% because the bank (or whatever) that`s giving it to you is investing or loaning that money somewhere and getting exactly the kind of return you would get if you invested it directly, right?

It`s the exact same process. It`s not some magically different thing. If you`re collecting that interest, it means that someone IS moving your money around for you.
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Male 2,850
@dang007

"What a load of crock. The ability to choose from what is available and to improve one`s position in life is vastly different between those two cases."

Having choice and control of your life is only one of the factors that contribute towards the quality of your life.

For example, if your choice were between death by starvation and death by exposure, you`d hardly claim that your quality of life was good because you have that choice.

In any case, I wonder exactly what wide and varied lifestyle choices you imagine lay open for our neolithic ancestors. Was Ug dreaming of being president one day? :P
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Male 38,501

[quote]"@Gerry Being "middle class" used to mean you had some security. Not anymore. Most people are 2 pay-checks away from living on the streets."[/quote]
Ollie, [quote]"Yeah? And who`s been president for the past 5 years?"[/quote]
That is one of the dumbest things you`ve said. Middle class was just as poor under Bush. Yeah, I get it - you hate Obomba. I`m not to fond of him either but keep in the realm of reality or you just sound like a Glen Beck nut-bag.
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Male 645
>>>>Upper tax rates of 70% to 90% [just like in the 1950s, and 60`s] forces the greedy few to invest their money rather than pay huge taxes on it and this gets it into circulation where it actually helps the economy.<<<

No. It disincentivizes people from moving their investments because of tax implications. This has a NEGATIVE effect on the economy because the ability to attract investment in new ideas is limited. (I would rather stick with my current 1.5% return, than sell it and pay 70% tax on the earnings and invest in your new idea.)

By the way what the heck do you think all those rich people are doing now with their money, keeping it in a mason jar buried down by the river? No they have it invested NOW.
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Male 645
>>>>> A child-labourer in North Korea lives better than a cave-dwelling neolithic tribal leader.<<<<

What a load of crock. The ability to choose from what is available and to improve one`s position in life is vastly different between those two cases.

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Male 2,850
@OldOllie

Wind back the timey wimey machine.

The FACT is, the typical American family living at the poverty line, i.e., "The Poor," has a mangle, a weather-proof outhouse, a regular supply of candles, large-pane windows, a fireplace, and a tin kettle. When you look at it that way, the POOR live better today than the RICHEST 1% did 100 years ago!

You can ALWAYS point to a previous point in time and say that the poor now live better than the rich then. A child-labourer in North Korea lives better than a cave-dwelling neolithic tribal leader.

Because of this fact, your statement becomes absurd, and adds nothing useful to the discussion.
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Male 17,512
Draculya: "OldOllie, why do you call Jimmy Carter a bigot?"

Carter is a well known Jew hater and has said some rather despicable things about Israelis.
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Male 1,983
"Yeah? And who`s been president for the past 5 years?"

And only an idiot conservative thinks that a supertanker economy [that had been run aground] could be turned like a sports car.

Considering what he was handed, he has done phenomenally in the last 5 years, but that`s only if you care to look at the facts.
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Male 1,983
"Rich people are outliers in society, there are relatively few of them. Their wealth is meaningless to the lot of the common man."

When they greedily sit on 90% of the nation`s financial wealth it has a GREAT affect on "the common man", regardless of how few of them there are.

Upper tax rates of 70% to 90% [just like in the 1950s, and 60`s] forces the greedy few to invest their money rather than pay huge taxes on it and this gets it into circulation where it actually helps the economy.
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Male 14,835
"OldOllie, why do you call Jimmy Carter a bigot?"

Republican logic, derp.

Not that I entirely respect Democrats, but the Republican party and a great number of their followers need rounding up and sending to re-education camps.
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Male 14,835
I care not how rich the rich are compared to the poor, I care only about the standard of living of the poor and the median.

Rich people are outliers in society, there are relatively few of them. Their wealth is meaningless to the lot of the common man.
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Male 14,835
"Yeah? And who`s been president for the past 5 years?"

Oh Jesus Fcking Christ. Therein lies the entire Republican logic.
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Male 3,909
"Why can`t this despicable old bigot just die already?"

You`re talking about yourself, right?
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Female 2,691
OldOllie, why do you call Jimmy Carter a bigot?
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Male 15,832
@Gerry [quote]Being "middle class" used to mean you had some security. Not anymore. Most people are 2 pay-checks away from living on the streets. [/quote]
Yeah? And who`s been president for the past 5 years?
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Male 15,832
What a complete f***ing liberal idiot he is. This $#!+-for-brains cracker was one of the worst presidents in American history, yet he doesn`t have the self-awareness to just shut the f*** up and hide his shame.

The FACT is, the typical American family living at the poverty line, i.e., "The Poor," has a car, a computer with Internet access, a flat-screen HD TV with cable, air conditioning, a refrigerator, and cell phones. When you look at it that way, the POOR live better today than the RICHEST 1% did 100 years ago!

Why can`t this despicable old bigot just die already?
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Male 1,100
How many of us would truly turn down a high 6 figure paycheck? The whole hate the 1% thing is pure jealousy.
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Male 676
My only question is, where are all of the crazy people that kill the people that are making money hand over fist while others are suffering working FOR them? I wish I was that crazy sometimes. Most of the top 1% could use a bullet.
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Male 1,100
"yesterday`s poor didn`t own two jet ski`s and an iPhone 5"
Owning an iPhone 5 is one of the reasons WHY people are poor now. Who the hell can REALLY afford $100+ a month just for their phone?
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Male 1,380
He wasn`t entirely effective as president but he is a good man with more integrity than any president before or since.

The things he has done since president have earned him my utmost respect.
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Male 17,512
He should know, his policies in the 70`s made just about everyone poor.
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Male 701
yesterday`s poor didn`t own two jet ski`s and an iPhone 5
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Male 38,501

Being "middle class" used to mean you had some security. Not anymore. Most people are 2 pay-checks away from living on the streets.
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Male 938
Link: Carter: Middle Class Today = Past`s Poor [Pic+] [Rate Link] - Jimmy Carter says the income gap in the US has increased to the point where the middle class resembles the past`s poor
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