Originally posted by Supra
With the new bank and lending laws its next to impossible for a middle class worker to buy a second home and fix it up and rent it out.
http://billmoyers.com/2013/09/20/by-the-numbers-the-incredibly-shrinking-american-middle-class/
The middle class, based on income, is defined on that site as household income between $25,500 – $76,500 a year.
Here's the real problem: my household income is well above $76,500 and I can assure you, I CAN'T AFFORD A SECOND HOME. The problem is the mentality that you and millions of others think that you should be able to afford something like a second home.
You can't afford a second home. You shouldn't buy a second home. You should live within your means and stop spending your money until you have nothing left each time you get paid.
Originally posted by Supra
The middle class is shrinking, the rich are getting richer and the poor are getting more poor. Yet the rich and poor pay less taxes over all then the middle class of america who are taxed the most.
That website I linked says you're right: the rich are getting richer by the numbers.
And according to this link, the middle class is "shrinking", as well.
However, we are on the cusp of creating AI-Robotics that will pretty much make these "worries" moot. Why does it matter what your income is when farming, housing construction, and cradle to grave materials processing, are almost entirely automated?
Originally posted by Supra
With all these new lending laws, taxes, Obamacare. The middle class is shrinking even more. Barley any of this is being reported on in the new, Fox preaches fear, CNN preaches government worship
The lending laws are probably one of the best things we've churned out in the last 30 years. Obamacare? Shit legislation as everyone on here knows I think.
Originally posted by Supra
And the middle class workers, welders, iron workers, military, teachers, fireman, police officers, small business owners, retail workers, waitresses, waiters, sales and marketing, accountants are being left out to dry to continue to work this system in which is doomed to fail
It's not going to fail.
Originally posted by Supra
What is going to happen when there is no money left to be made, its harder and harder to get a good paying job, people coming out of school with education degrees to teach can't find jobs to teach kids growing up, teachers are being cut, fireman and police officers are being cut, even doctors and lawyers are going out of business..
None of that is true or is happening: Nurses are in demand and more and more private security forces are being hired (private police, if you will). Teachers are always in demand and as long as the population continues to increase in size, so will the number of teachers needed (that's not a perfectly direct correlation, obviously). Not only that, but the number of teachers per student has actually increased in the last ten years* meaning the number of teachers is outpacing the growth in students.
I supported some of your points with real facts but most of your points are inexorably wrong. Since many of your fundamental points (premises) are wrong, your conclusions are illogical. I apologize for how strongly worded my comments are as I intend no offense nor do I wish to verbally (written, really) attack you as a person: just your points. And to your main point about an impending failure, like always, humans will adapt to the changing conditions: no catastrophic failure is in sight.
*"The number of public school FTE teachers has increased by a larger percentage than the number of public school students over the past 10 years, resulting in declines in the pupil/teacher ratio. In fall 2001, the number of public school pupils per teacher was 15.9, compared with a projected number of 15.2 public school pupils per teacher in fall 2011."