US middle class being wiped out

[Yanoda]

Very interesting thread, thank you Matt for posting.
There are many factors that are causing this trend and there is hardly a single entity that is responsible for the majority of the setbacks. Everything had an effect on it and they all added up.

Matt, you made a very valid point concerning abuse/mismanagement of Corporations/Companies. My favorite definition for these institutions is:
“Corporation, n. An ingenious device for obtaining individual profit without individual responsibility.” - Ambrose Bierce
Interestingly, Bierce lived in the mid 1800s - beginning 1900s. He seemed to be spot on with what is happening today.

No single person is the cause of it either. Neither Mr. Reagan, Mr. Bush nor Mr. Obama are the sole reason. They may have contributed to it but they should not take all the blame. This Red vs Blue politics isn't helping this problem either, it is just distracting us from understanding the real problem and solving it.

I would say that the people's mindset are also part of the problem. The average consumer does not care where the product came from or how it was manufactured. If the price is good/low and the product does its job of satisfying the consumer, the consumer is content (other factors may influence the consumer as well).

I even consider the 'War on Terrorism' also a reason for the declining Middle class. The war is cost the USA over $1 trillion since it began. What has it brought us today? More American soldiers died in the war than the Sep. 11 Attacks. More than 10 times the amount of American soldiers are wounded, many may have psychological problems because of the war. Just recently, information leaked that Afghanistan is partly supporting Terrorists which is funded my American $ (taxpayer money). Documented civilian deaths is in the 100,000; likely even more. If the war has not been issued, 1 trillion dollars would have not been fully wasted and used for our education system instead and helping improve Lower and Middle class lifestyles. Many Lower and Middle class Americans would have been spared the loss and suffering of a loved one. Only a fraction compared to today of American money would be funding terrorist activities (There is always some way that $ would fund terrorists, there is always a loophole).

WD-40, MATTHEW'S_DAD and Dad, you all give good examples and valid points.

Peace

[ProfessorDreadNaught]

Perhaps I should elaborate.

Bush was the final nail in the coffin. Obama is just throwing the last shovelful on us.

The government has been slowly taking more and more from americans and giving it to everyone else. Think about how economics really works. Loosen immigration enforcement and flood the workpool with cheap, substandard labor. They now have perpetual jobs fixing their own mistakes as well as free health care and schooling for their children. Allow corporations to do away with the 40 hour work week with their "salary" crap and "human resources" vomit. While they are at it, let them take away any retirement savings of all employees at the last gasp. The punishment? One guy does a couple years in jail. This is if they even let the employee reach retirement age. Unions steal from retirement funds to endorse corrupt politicians. Pass regulations that make too easy to buy a home, let the family lose the home, then pass regulations to make far more difficult to buy a home ever again. And so on and so forth, ad nauseum.

These are all attacks on the middle class. Take away retirement and who will employ you at 50-60 years old? Keep taxing and spending. Who bears the brunt of these taxes? Not the rich nor the poor and illegal. Keep working class families out of the housing market by keeping houses in the hands of banks. You will never see a return on renting.

Middle class inheritances have shrunk dramatically in the last half century. Middle class standard of living has dropped dramatically in the last 20 years. Far too many jobs have been sent out of the country that were once held by working families.

The top 1% all gained in wealth throughout the recession.

How long are we going to let the government piss down our backs and tell us its raining?

IT IS NOT THE GOVERNMENT!

The government is just doing what it thinks is in Americans best interest. American labor cannot compete against third world nations labor pools. PERIOD. We lost the manufacturing war years ago and our government knows it. It is a dirty secret too many Americans ignore. The labor movement ignored that lesson in Detroit starting in the 80's. So American car companies, in a desperate attempt to remain solvent, have manufactured vehicles elsewhere since then. Outsourcing parts and systems for American assembly. Relying more and more heavily on financing plans and gimmicks to stay afloat. Chrysler Financial was hugely profitable when the company went bankrupt and was sold off to pay debts. Ford Motor Credit was responsible for providing Ford Motor Co. cash to burn through our recent downturn and was the ONLY reason they didn't take public money.

American leaders have been shown an America in self-immolation mode and denial for decades. They know that if you buy everything from others and they don't buy from you, it can only end one way. We have been borrowing from future generations for decades. Our leaders know this but are politicians at the same time. They've been trying to provide the appearance of prosperity the best they can, relying on economic geniuses who try to reinvent the American economy to keep the gravy train going. A politician can't tell the people the brutal truth and can't force Americans to do with less. Economists who work for politicians have to come up with something else. Why do you think Social Security is the way it is? Any wannabe CPA would tell you you can't juggle the books the way Washington does, but wise and learned economists keep finding a way to keep the lights on. Is it any wonder Wall Street would imitate such behavior and get us into more financial trouble?

Americans want high standards of living for Americans. That is ok, but don't be a naive bupkiss and think NOONE has to pay for it. People want universal healthcare too, but don't want to tell the doctors and nurses they have to work for free.

Those protesters of the WTO are hypocrites. EVERYONE wants a better standard of living. ESPECIALLY the poorest peasant worker. If Nike paid Bengalese workers American wages and put in OSHA standard factories the shoes would need to cost $300. Nike pays them regionally high wages, and produces a good product that consumers can afford and will buy. The Bengalese worker puts his kid through school or gets healthcare for grandma improving his families standard of living. Globalization is good globally. The problem is that America is the top 1% of the globe. And like America's top 1% we get to live it up with a great standard of living, but have to pay 70% of the taxes. (military spending, foreign aid, trade imbalances, national debt, etc)

Either the American consumer needs to put a 200% premium on purchasing an American made product or go without. Spend that money on paying down the National Debt which has allowed you such a nice standard of living up until now. Don't hate the 1% who are buying low and selling high. By buying that Honda Accord or Toyota Prius or that computer monitor staring you in the face you are more to blame than they are for today's economic disparities.

BTW: My idea about open immigration is a way to return to competitiveness without crushing the middle and poorer classes. Don't 'diss it out of hand (or prejudice?) If you'd like me to explain further, just ask. I will.

[(SWGO)2EAZY]

I'm low class, speaking that for school I use reduced cost lunches and we can barely live off our paycheck, I'm frightened.

Thanks anyway, Bush, for giving Obama your mess to clean up.

[mrjamwin]

Wow, Dreadnaught actually posted something worth reading. Is Hell freezing over?

[Duel of Fates]

It is pretty simple when it comes down to the final analysis.

We borrow money we do not have, to pay for things we do not need, to impress people we do not like.

Career politicians are the worst thing to happen to this country. Instead of dealing with problems head on, they find someone to blame and then smooth it over. We Americans cannot handle the nasty realities of the world and the economy, so they make policies, laws, and regulations, all the while taxing and spending. They think they know better how to run our country, when most of them wouldn't know how to run a hot dog stand. Instead of learning from past mistakes, they continue on a course that is no longer sustainable. The corruption, graft, and dirty politics have been going on for generations now, so blaming one side or the other is a complete waste of time. Both parties have failed us.

[WD-40]

The corruption, graft, and dirty politics have been going on for generations now, so blaming one side or the other is a complete waste of time. Both parties have failed us.

I couldn't agree more! The U.S. Congress needs an 'enema'!

[samonuh]

The government is just doing what it thinks is in Americans best interest.

I've been sayin' that [poo] for years

[Jango_Fred]

I typically hold my own political knowledge very low.... but I made this exact statement to someone earlier in the week. How many times do they need to stick their hand in the fire before one of them finally says "You know what...that burns, I'm not going to do it again"

Instead of learning from past mistakes, they continue on a course that is no longer sustainable.

[(SWGO)2EAZY]

I'm guessing that the schools are now using plastic forks.

Or maybe that was because they were cheap chinese stuff, and a 1 year old could bend one with it's pinky.

No seriously, they're that crappy.

Though anyway, they seriously need an enema.