The Obama Tax Hike

[mawilson 2,133]

I agree with you Although every country has its advantages and disadvantages I noticed some difference between Europe and US. For example, first time in my life I have seen a homeless person when I came here, and I was surprised how many criminal justice study programs there is. In Europe study programs in Environment Science are very popular. But I have to much of a European way of thinking

You haven't seen homeless people in Europe? C'mon now, be honest.

[mawilson 2,133]

The bigger problem is that the now-finished boom was, for most Americans, nothing of the sort. In 2000, at the end of the previous economic expansion, the median American family made about $61,000, according to the Census Bureau’s inflation-adjusted numbers. In 2007, in what looks to have been the final year of the most recent expansion, the median family, amazingly, seems to have made less — about $60,500.

The "median American family"? You don't suppose the 10 million illegals who have arrived since 2000 have anything to do with that number?

If illegal immigrants don't pay taxes (I would assume most don't) then they probably wouldn't be included in the Census figure, would they?

The availability of massive numbers of illegal immigrants depresses wages and keeps them from rising over time.

[SaadBell 0]

I agree with you Although every country has its advantages and disadvantages I noticed some difference between Europe and US. For example, first time in my life I have seen a homeless person when I came here, and I was surprised how many criminal justice study programs there is. In Europe study programs in Environment Science are very popular. But I have to much of a European way of thinking

Just take a deep breath cause you are going to see a lot more homeless, and yes our war on drugs makes many profits from all the wasted money and prisons we use to keep this going. Crime studies is big business here in good old America, we love to lock them up, unless they have a violent offence. Better to commit murder than get caught with some drugs, you will serve mandatory time for drugs, but murder we can plea it down and have you out in a jiffy. On the bright side if you do end up in prison they give you some food and health care, so I guess it evens out.

[zqt3344 21]

AND that is not including all the illegal immigrant free loaders in our hospital emergency rooms and schools placing the burden on every other legal US citizen and resident paying taxes in the USA.

The bigger problem is that the now-finished boom was, for most Americans, nothing of the sort. In 2000, at the end of the previous economic expansion, the median American family made about $61,000, according to the Census Bureau’s inflation-adjusted numbers. In 2007, in what looks to have been the final year of the most recent expansion, the median family, amazingly, seems to have made less — about $60,500.

The "median American family"? You don't suppose the 10 million illegals who have arrived since 2000 have anything to do with that number?

If illegal immigrants don't pay taxes (I would assume most don't) then they probably wouldn't be included in the Census figure, would they?

The availability of massive numbers of illegal immigrants depresses wages and keeps them from rising over time.

[mawilson 2,133]

These are the economic facts that people feel. These are the facts that have people think we're on the wrong track. And these are the fact that those that like to pizz down on average Joe would like to deny.

The survey shows that, over the 2001–04 period, the median value of real

(inflation-adjusted) family income before taxes continued to trend up, rising

1.6 percent, whereas the mean value fell 2.3 percent. Patterns of change

were mixed across demographic groups.

...

Between 2001 and 2004, the mean and median wealth of families increased in all

regions of the country except for the South, where the median declined 18.8 percent

and the mean fell 13.1 percent. The most striking gain is the 64.5 percent rise in

median wealth for the Northeast region, where it had declined in the 1998–2001 period.

...

After adjusting for inflation, the net worth (assets minus liabilities) of the median

American family rose from $70,800 in 1995 to $93,100 in 2004. Fully 54 per­cent

of Americans have no credit card debt, and the median balance for families that

do have credit card debt is $2,200.

Source: Federal Reserve Bulletin, March 2006

[Mr. Big Dog 10,747]

These are the economic facts that people feel. These are the facts that have people think we're on the wrong track. And these are the fact that those that like to pizz down on average Joe would like to deny.

The survey shows that, over the 2001–04 period, the median value of real

(inflation-adjusted) family income before taxes continued to trend up, rising

1.6 percent, whereas the mean value fell 2.3 percent. Patterns of change

were mixed across demographic groups.

...

Between 2001 and 2004, the mean and median wealth of families increased in all

regions of the country except for the South, where the median declined 18.8 percent

and the mean fell 13.1 percent. The most striking gain is the 64.5 percent rise in

median wealth for the Northeast region, where it had declined in the 1998–2001 period.

...

After adjusting for inflation, the net worth (assets minus liabilities) of the median

American family rose from $70,800 in 1995 to $93,100 in 2004. Fully 54 per­cent

of Americans have no credit card debt, and the median balance for families that

do have credit card debt is $2,200.

Source: Federal Reserve Bulletin, March 2006

So, let's zoom in Bush's presidency:

INCOME

The change in real before-tax family income between 2001 and 2004 stands in strong contrast to the change for the preceding three-year period. Over the morerecent period, median income rose 1.6 percent, while the mean fell 2.3 percent (table 1). Over the preceding three-year period, the median had increased 9.5 percent, and the mean had increased 17.3 percent.

The change over the 2001–04 period was strongly influenced by a 6.2 percent decline in the overall

median amount of wages measured in the survey and a 3.6 percent decline in the mean (data not shown in the tables); wages represent the largest share of family income.

Things haven't gotten better since 2004.

[mawilson 2,133]

So, let's zoom in Bush's presidency:

INCOME

The change in real before-tax family income between 2001 and 2004 stands in strong contrast to the change for the preceding three-year period. Over the morerecent period, median income rose 1.6 percent, while the mean fell 2.3 percent (table 1). Over the preceding three-year period, the median had increased 9.5 percent, and the mean had increased 17.3 percent.

The change over the 2001–04 period was strongly influenced by a 6.2 percent decline in the overall

median amount of wages measured in the survey and a 3.6 percent decline in the mean (data not shown in the tables); wages represent the largest share of family income.

Things haven't gotten better since 2004.

Are you forgetting that

The U.S. economy was in a mild recession through much of 2001, and real gross domestic product was flat for the year.

Also how about this:

In the 2001–04 period, the median income of nonwhite or Hispanic families

rose 8.8 percent, and the mean rose 3.7 percent. In contrast, the median for

white non-Hispanic families rose 2.5 percent, and the mean declined 1.5 percent.

...

Between 1998 and 2001, the median income of nonwhite or Hispanic families

had been about unchanged, while the median had increased 9.0 percent for

other families; the mean had risen for both groups.

[HAL 9000 96]

These are the economic facts that people feel. These are the facts that have people think we're on the wrong track. And these are the fact that those that like to pizz down on average Joe would like to deny.

For Many, a Boom That Wasn’t

The Bush White House has again run up the national credit card. Here is a list of total debt outstanding at the end of the government's fiscal year:

09/30/2007 $9,007,653,372,262.48

09/30/2006 $8,506,973,899,215.23

09/30/2005 $7,932,709,661,723.50

09/30/2004 $7,379,052,696,330.32

09/30/2003 $6,783,231,062,743.62

09/30/2002 $6,228,235,965,597.16

09/30/2001 $5,807,463,412,200.06

09/30/2000 $5,674,178,209,886.86

The current debt outstanding is $9,437,425,175,221.31

They had this report on the news the other night about booming businesses in the Tampa Bay area. Sad thing is that the only businesses left booming are the local pawn shops. That's the state of the economic affairs and that's the reflection of failed policies of the Bush White House and their useless helpers in Congress - including one John McSame who wants to keep going down this disastrous path.

I just find it amusing how we try to equate stock market volume with economic prosperity all the while having an increased service sector and decreased higher-wage positions. That does not equal prosperity for the population but rather the shareholders whom are making a killing much like oil execs seem to be able to do with such a market.

AND that is not including all the illegal immigrant free loaders in our hospital emergency rooms and schools placing the burden on every other legal US citizen and resident paying taxes in the USA.

The bigger problem is that the now-finished boom was, for most Americans, nothing of the sort. In 2000, at the end of the previous economic expansion, the median American family made about $61,000, according to the Census Bureau’s inflation-adjusted numbers. In 2007, in what looks to have been the final year of the most recent expansion, the median family, amazingly, seems to have made less — about $60,500.

The "median American family"? You don't suppose the 10 million illegals who have arrived since 2000 have anything to do with that number?

If illegal immigrants don't pay taxes (I would assume most don't) then they probably wouldn't be included in the Census figure, would they?

The availability of massive numbers of illegal immigrants depresses wages and keeps them from rising over time.

Oh Dear.

[mawilson 2,133]

I just find it amusing how we try to equate stock market volume with economic prosperity all the while having an increased service sector and decreased higher-wage positions. That does not equal prosperity for the population but rather the shareholders whom are making a killing much like oil execs seem to be able to do with such a market.

More than 50% of Americans have invested in the stock market.

As the market tanks, people are seeing their investments and 401(k)'s go down.

Oh Dear.

The truth hurts, doesn't it.

[Eli the Barrowboy 16]

Move to Canada then. See you!

I'm assuming that since Canada also has immigration laws you're supporting illegal immigration? That's not very Republican G-Man!!!

Do you support illegal immigration, Gary? Do you?

[GaryC 7]

Move to Canada then. See you!

I'm assuming that since Canada also has immigration laws you're supporting illegal immigration? That's not very Republican G-Man!!!

Do you support illegal immigration, Gary? Do you?

And people say I am OTT. Get a grip dude.

[Eli the Barrowboy 16]

Let's look at the unemployment rate figures again, shall we?

2000 3.97 DOT-COM CRASH

2001 4.76 Bush, G.W. took office

2002 5.78

2003 5.99

2004 5.53

2005 5.08

2006 4.63

2007 4.61 <------ lowest

2008 5.00-5.50 SUBPRIME MORTGAGE CRISIS

Mmmm ... I'm looking. Still saying that unemployment went up under GWB to me. Maybe my silly little democratic brain can't see the truth. I'm blind to the truth. Doctor help, I'm blind to the truth!!! What's that you say, doc? Medical insurance? But I can't afford that cos gas costs too much and food, ditto, and my house has been repossessed and the factory I work at shut down ... If only I had some of that $341.4 million per day that's been spent in Iraq. Uh oh, Looks like it's Canada for me.

[Eli the Barrowboy 16]

Get a grip dude.

I'm not hearing a denial here Gary!!!

[Mr. Big Dog 10,747]

I just find it amusing how we try to equate stock market volume with economic prosperity all the while having an increased service sector and decreased higher-wage positions. That does not equal prosperity for the population but rather the shareholders whom are making a killing much like oil execs seem to be able to do with such a market.

More than 50% of Americans have invested in the stock market.

Yes, with a small part of that 50% holding a huge stake and the huge part holding a small stake.

[HAL 9000 96]

I just find it amusing how we try to equate stock market volume with economic prosperity all the while having an increased service sector and decreased higher-wage positions. That does not equal prosperity for the population but rather the shareholders whom are making a killing much like oil execs seem to be able to do with such a market.

More than 50% of Americans have invested in the stock market.

As the market tanks, people are seeing their investments and 401(k)'s go down.

Oh Dear.

The truth hurts, doesn't it.

Makes perfect sense. Nevertheless, most of those investments are not major contributors to a household's day-to-day operation. Stock market volume more directly affects venture capital and shareholder holdings- both not quite as representative of most American bank accounts.

As for the other one... well... truth really hurts. Specially when its got you bent over and taking irresponsible economics up the wazzoo.

I just find it amusing how we try to equate stock market volume with economic prosperity all the while having an increased service sector and decreased higher-wage positions. That does not equal prosperity for the population but rather the shareholders whom are making a killing much like oil execs seem to be able to do with such a market.

More than 50% of Americans have invested in the stock market.

Yes, with a small part of that 50% holding a huge stake and the huge part holding a small stake.