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

Jimmy Carter says the income gap in the US has increased to the point where the middle class resembles the past`s poor

submitted by: Sweepofdeath
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Carter: Middle Class Today = Past`s Poor [Pic+]. 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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Hits: 3962 | Favorites: 0 | Emailed: 0 | Rating: 3.2 | Category: News & Politics | Date: 10/10/2013
 
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OldOllie
Male, 60-69, Midwest US
 11709 Posts
Sunday, October 13, 2013 9:32:00 AM
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.

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.

747Pilot
Male, 18-29, Canada
 564 Posts
Friday, October 11, 2013 8:58:39 PM
because it's a pyramid scheme, and the few at the top have the most..

Draculya
Male, 40-49, Asia
 10221 Posts
Friday, October 11, 2013 8:04:24 PM
@Crakr But, Bob, generally speaking, you can't trust the bastards. They turn on you. Am I wrong or right? - Nixon

Gerry1of1
Male, 50-59, Western US
 33696 Posts
Friday, October 11, 2013 10:28:31 AM

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.

dang007
Male, 30-39, Southern US
 545 Posts
Friday, October 11, 2013 9:35:08 AM
>>>>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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