dagblog - Comments for "New Research Reveals Hidden Growth of Extreme Poverty in America"

Thanks for the link.

trkingmomoe — Wed, 09 Sep 2015 06:24:19 +0000

In reply to We get 24-hour Donald Trump

Thanks for the link.

I think Buffett's reasoning is spot on.

"You expect unequal results in a market economy, very unequal," the Berkshire Hathaway founder said in a video published Tuesday by Reuters TV. "But you really shouldn't have an economy with over $50,000 in GDP per person and have lots of people living in poverty who are willing to work. I mean, that makes no sense."

People are in poverty because of design in the structure and not because of their laziness. Change the tax structure and the wage structure and people will then be able to move out of poverty. At these kinds of numbers half the country should not be in poverty like it is now.

Journalist David Cay Johnston

trkingmomoe — Wed, 09 Sep 2015 06:05:51 +0000

In reply to New Research Reveals Hidden Growth of Extreme Poverty in America

Journalist David Cay Johnston wrote this over the weekend about how the bottom half of our economy is losing ground. He pulled this from a report that just came out by the IRS.

—Half of workers make less than $520 a week, a figure that, adjusted for inflation, has been unchanged since 1998, Social Security data show.

—Average pay in 2013 was lower than in 2012 for 59 of the 60 levels of pay tracked by Social Security, with only the 110 jobs paying $50 million or more increasing in pay.

—The average income for 90 percent of Americans has fallen back to the level of 1966, according to IRS data.

—Just 1,361 households received 8 percent of all the real increased income Americans reported in 2012 compared with 2003, while the bottom half of Americans' income fell by 18 percent, a new IRS report shows.

http://www.commercialappeal.com/opinion/national-and-world-commentary/david-cay-johnston-american-workers-deserve-must-demand-better_02920648

What has happened is our politicians got lazy. They stopped working hard in their job and took the easy money of the wealthy. For that money they gave the wealthy what they wanted. All the wealth was funneled to the top and they let the corporations move jobs to get cheap labor. The job growth has been in the low wage service sector.

We have to catch up with other western countries and start taking care of all the people and not just a few wealthy families.

Frankly, I'm a bit tired of

barefooted — Wed, 09 Sep 2015 05:02:16 +0000

In reply to We get 24-hour Donald Trump

Frankly, I'm a bit tired of very rich people describing why people shouldn't be poor. Especially when they actually seem startled by the fact, as though it's some sort of new condition that occurred behind their backs.

We get 24-hour Donald Trump

rmrd0000 — Wed, 09 Sep 2015 03:32:50 +0000

In reply to New Research Reveals Hidden Growth of Extreme Poverty in America

We get 24-hour Donald Trump infotainment, yet we ignore the important things going on in the lives of American citizens, we allow the poor to be characterized as shiftless and lazy. Even bill are Warren Buffett realizes that a system with a $50k per capita GDP should not have millions of poor people. Buffett realizes that poor people want to work.

http://www.huffingtonpost.com/entry/warren-buffett-us-poverty_55ef2df8e4...