Millions of Americans to Fall off an 'Income Cliff'

When you say "poor," are you talking about the homeless that essentially have nothing, or are you talking about someone who has a home, air conditioning, a couple of cars, electricity, a microwave oven, internet, televisions, netflix, cell phones, running water, booze and dope, etc?

 

Who exactly are the "1%"? What is the criteria you are applying?

And why did you bring race into it? We are discussing everyone, not a select group of people.

 

Gee, that's a tough one.

 

Regardless of how many people do it, being financially smart means sacrificing on the short term to end up with a very positive long term. That most people aren't financially smart does not negate the reality that there are some who are financially smart and make sure their futures are secure.

 

Well I am not exactly sure wheere the 99% percent line is

But I am part of the 42% of America hoping for more than 15$ an hr

Rich vs Poor is grey area.. but there is a clear distinct cast system set up by Woodrow Wilson (who ****ed up the Spanish Influenza) and embraced by our Racist President

 

So which group are you referring to?

Considering that this thread is talking about an "income cliff," we can't be talking about the homeless because they have no income already.

 

there is an in between, people who have a place to live and electricity and running water but not AC or Iphones or TV. Paying rent and utilities is touch and go from one month to another and anything extra required means something else gets shorted.

 

All I can do is hope for the best for you, hope that your earnings improve, and that you make sound financial decisions.

 

Honestly, it is hard to say anything about them, unless we investigated their lives and reviewed their income and expenses. Are you thinking that the people under discussion are financially smart and make good financial decisions with a view to the future? That every dime earned is put to its best use?

 

Does it sound like I am trying to say that? My meaning is clear, if not to you then maybe that is because our backgrounds are so different.

 

Like Eric and Donald Jr.? Definitely 1% folks

 

It is best from their view we maximize liberal economic inequality and death

 

Adam Schiif is the Schitt SDNY has brought Ghislane Maxwell to the stage.. Why Now?? Could it be because of Barrf?

 

Have no idea about the backgrounds being so different. Hard work and financial smarts can take a person far. So I am guessing that you started poor, and now you are financially secure?

In an effort to stay on topic, considering this "income cliff" that is approaching for so many, do you have any suggestions on how to solve it?

 

Middle class people on middle class incomes can become financially secure if they make sacrifices up front, make good decisions, put in the effort required, research how to be financially smart, and pursue a sound financial plan. It is actually easy, but then honestly, self discipline is in short quantities these days, so perhaps being financially smart is pretty darned difficult.

 

So they only live decently once they retire... if they don't die early? What is the average life expectancy.. 70 odd years? Doest look smart to me! Their kids will live well not poorly from inheritance. Lol

It is smart to live within your means but not live in poverty when you don't have to.

I was quite successful in business and saved for retirement.. But never would I live like poor folks unless I was forced to. But if that floats your boat, its your choice. But it ain't smart. Its masochism. And to me that's mental illness.

 

So they only live decently once they retire... if they don't die early? What is the average life expectancy.. 70 odd years? Doest look smart to me! Their kids will live well not poorly from inheritance. Lol

It is smart to live within your means but not live in poverty when you don't have to.

I was quite successful in business and saved for retirement.. But never would I live like poor folks unless I was forced to. But if that floats your boat, its your choice. But it ain't smart. Its masochism. And to me that's mental illness.

 

The topic of this thread is the people who are approaching a financial cliff. My assertion is that many of these people would not be approaching this cliff if they would have been financially smart and made better decisions previously.

That you saved for your retirement is an indication that you sacrificed something in the early years to secure your financial future, and that is financially smart. That you made enough to live decently and also save for the future is even better. So, I don't think you are a good example of the people that are the topic of this thread. If you made enough to live a good life and secure your future, then you have done well. I applaud you and your efforts.

Many of these "financial cliff" people are there because of their poor decisions. But maybe I am wrong, perhaps these financial cliff people are actually financial geniuses?

 

No I do not. I don't believe it can be stopped but it could have been prevented.

 

You missed the point. Federal government had no business forcing people to close their businesses in the first place. It was authoritarian and un-american.

 

The poor in my area don't own a home but live in used campers, rented. Or run down mobile homes, rented or section eight houses.. They do have electricity and water but if in rural areas far from town get water from a well. But if no electricity human services may take their kids. . The poor here buy or scavage micro waves from the side of the road or buy used appliances real cheap . Same with TV sets with no internet or cable . They use a TV antennae that can be had for ten bucks.

Most have cell phones because employers require a phone. And to find a job most times is done online. So you go to McDs and use their with fi. Or depend upon a non poor friend's WiFi.

You must not know poor people? Your info comes from right wingers and not personal experience?

I live in a poor state and have seen our middle class destroyed. By illegal labor and globalism..

I know you want our working poor to be like the pot belly kids in a 3rd world **** hole or they are not poor. Right?

Our economic model is service sector with Walmart being our largest employer. Walmart tells its employees how to get welfare so taxpayers subsidize their working poor wages.. That business model is used today . Where in the past you could earn a living wage selling what Walmart sells because you got a wage plus commission on what you sold.

Our economy favors only max profits and investors. To hell with workers. If you want to earn a living wage learn to code, or go to college and become a professional. For your labor has little value since you must compete with cents on the dollar labor of the world's poor

Our system now creates poverty as it destroys the lower middle class and the middle, middle class. But as everyone cannot be rich, everyone cannot be middle class these days. In the past hard work and playing by the rules made it possible for a living wage. But that system was destroyed by illegal labor and globalism. By both parties.


The nuts on the right of course blame the working American. Always. Yet much of it is our screwed up system.

 

I appreciate that. We could perhaps lessen future problems by educating our youth in personal finances. Many years ago, a wise person told me "You've often heard the saying - live within your means. But really, the saying should be - live below your means." Quite wise.

 

Yes, unfortunately, the things you said that I quoted above are true. And since they are true, it would behoove us individually to realize the situation and to become skilled and financially smart. The system is what it is - smart people figure out how to become financially secure despite the system. Not-smart people bitch about the system as they are tumbling over the financial cliff.

 

Oh bullshit too. NOBODY keeps 6 months and more income just lying about. No business, no person NOBODY. You may have but not everybody has daddy and mommy helping them out

And this is ridiculous anyway. This situation simply should not exist. Many other countries quite comparable to ours have weathered this crisis with nothing even CLOSE to the costs and the DEATHS we have had. What should have been done was well-known and everyone had been warned this was going to happen. Some small and rather backward countries, like Italy, were caught flat footed, others, like Great Britain employed questionable tactics but eventually got the situation under control. That is understandable, this is really a unique development though similar things have happened.

Only ONE nation had the utterly INSANE response the USA has had and CONTINUES to have and that is why we are in the situation we are in now. This whole thing is TRUMP'S and the Republican Parties fault and if I had my way we would bring the largest class action suit ever brought against anyone and bankrupt those truly stupid and mean ass bastards into the next century.

 

I don't agree that your idea is the primary cause of the financial cliff. But sure your assertion is one of the causes. Just not the primary cause.

The primary cause is the changes that began in the 80s..That greatly affected income of average Americans and started destroying our middle class as millions dropped from the prosperous middle into the working poor. Just as Perot said would happen.

What you see today per the OP was a given . The system, that replaced our other economy is designed to impoverish the workers as all gains are seen by the top 99 percent.

It is the most evil and nefarious scheme seen since the Gilded Age. With the GOP changing our economy that Clinton's DP went along with. Destroying the party of FDR that represented working people . The DP stopped looking out for workers and no longer represented them.. For the DNC said where would these working people go? To the GOP? The party of bankers and big corporations? Lol

We once had a party that looked out for the average working American and the GOP looked out for and represented big business and the rich elites. So all Americans had a party that represented them. Nothing wrong with the GOP representing business and the rich
.But there is a big problem when the DP stopped looking out for workers under Clinton, kicking average Americans to the curb.

I don't blame the GOP but the DP. The balance we had since 1932 was destroyed by the Democrats. And it is one sided now with no party representing average Americans. That is the cause of an explosion in income disparity and the cliff spoken of in the OP! For this is what change our economy. From the big picture view. Both gave us this mess. The continued disemboweling of working Americans.

That is why I hate the party of Clinton . And not the GOP who always looked out for the rich and big business. Which is good as long as the DP looked out for the majority of Americans but no longer do.