Re: Obamanomics
Just wishing the best on the poor woman, she needs blessings for all she has been through.
Just wishing the best on the poor woman, she needs blessings for all she has been through.
President Obama!
- Thread starter passerby
- Start date
Re: Obamanomics
UPS Lifer,
To get back to your original point, Obama will own the economy when he is allowed to enact his policies without interference from the über Right. Bush was allowed to enact his policies, that's why he owned the mess he created.
Give the President free reign to act, and he will own it. The pettiness of today's Republican Party is disgraceful.
UPS Lifer,
To get back to your original point, Obama will own the economy when he is allowed to enact his policies without interference from the über Right. Bush was allowed to enact his policies, that's why he owned the mess he created.
Give the President free reign to act, and he will own it. The pettiness of today's Republican Party is disgraceful.
Re: Obamanomics
You do realize no one is proposing a tax hike, right?
You do realize no one is proposing a tax hike, right?
UpstateNYUPSer(Ret)
Well-Known Member
Re: Obamanomics
It was intended to be a temporary tax cut to begin with, and only extended because the rightwingers took the government hostage. Let the tax cuts expire, they didn't work. Restore a tax rate that has proven to grow the economy. Give relief to the working poor. Emphasis on 'working'...
Let President Obama enact his policies, let him appoint the people he trusts, just like we've always done.
Elections matter, and Obama ran on exactly what he is proposing. The country elected him because most of us thought he was the better choice. Now you can either continue to drag the country and the economy down by obstructing, or we can return to the times when we all worked together for the good of everyone.
It was intended to be a temporary tax cut to begin with, and only extended because the rightwingers took the government hostage. Let the tax cuts expire, they didn't work. Restore a tax rate that has proven to grow the economy. Give relief to the working poor. Emphasis on 'working'...
Let President Obama enact his policies, let him appoint the people he trusts, just like we've always done.
Elections matter, and Obama ran on exactly what he is proposing. The country elected him because most of us thought he was the better choice. Now you can either continue to drag the country and the economy down by obstructing, or we can return to the times when we all worked together for the good of everyone.
moreluck
golden ticket member
Re: Obamanomics
The country elected him all right.....but just to continue getting their freebies !!
The country elected him all right.....but just to continue getting their freebies !!
Re: Obamanomics
Unbelievable.
That is the most ridiculous thing I have ever heard. Never mind the fact that Corporate America has been gaming the system for 'free stuff' for decades, and their 'free stuff' ads up to large multiples of the 'free stuff' of the people you are alluding to. Some here have used the welfare system when they needed it. That's why we refer to it as a 'safety net'.
I think I remember something I heard somewhere about looking out for the least of us...hmmmm
Unbelievable.
That is the most ridiculous thing I have ever heard. Never mind the fact that Corporate America has been gaming the system for 'free stuff' for decades, and their 'free stuff' ads up to large multiples of the 'free stuff' of the people you are alluding to. Some here have used the welfare system when they needed it. That's why we refer to it as a 'safety net'.
I think I remember something I heard somewhere about looking out for the least of us...hmmmm
moreluck
golden ticket member
Re: Obamanomics
Hope and change.
Hope and change.
WASHINGTON (CBS DC) – The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969.
According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole.
According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000″ figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.”
Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.
According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole.
According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent. The “less than $10,000″ figure includes the numerous households that have no assets at all, or “negative assets,” which is otherwise known as “debt.”
Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.
moreluck
golden ticket member
Re: Obamanomics
Maybe the "least of us" should be provided with opportunity for a real job instead of food stamps and phones and benefits that encourage couch riding!!.
Maybe the "least of us" should be provided with opportunity for a real job instead of food stamps and phones and benefits that encourage couch riding!!.
UpstateNYUPSer(Ret)
Well-Known Member
Re: Obamanomics
I wonder how many of these households bought more house than they could afford and are upside-down in their mortgages. The value of your house and mortgage balance are normally the two largest variables in determining net worth.
I wonder how many of these households bought more house than they could afford and are upside-down in their mortgages. The value of your house and mortgage balance are normally the two largest variables in determining net worth.
Re: Obamanomics
I know I could afford my house when I bought it, but everything around has foreclosed, and now its worth 20k less than when I got it. I can still afford it, but seeing crap falling down around here, makes me wish I could move, now I cant. Ive only had it ten yrs, and I should have equity, but I dont. I put 20% down, and yet the value continues to decline. Afte all the improvements I have done, Im even. It sucks. Im glad I still like it, I just dont look around the neighborhood.
I know I could afford my house when I bought it, but everything around has foreclosed, and now its worth 20k less than when I got it. I can still afford it, but seeing crap falling down around here, makes me wish I could move, now I cant. Ive only had it ten yrs, and I should have equity, but I dont. I put 20% down, and yet the value continues to decline. Afte all the improvements I have done, Im even. It sucks. Im glad I still like it, I just dont look around the neighborhood.
UpstateNYUPSer(Ret)
Well-Known Member
Re: Obamanomics
I bought my condo for $82K knowing it would be an investment property. I have put some money in to it but I also know that there is a cap on what I can expect to get for it ($99K) when it comes time to sell. Units where I live are not going to get $100K or more; in fact, we had a foreclosed unit sell for $60K (it needed a ton of work). I have about $15K in equity and an overall net worth of just over $100K. (Pension is not factored in to our net worth as that is projected, not guaranteed, income.)
I bought my condo for $82K knowing it would be an investment property. I have put some money in to it but I also know that there is a cap on what I can expect to get for it ($99K) when it comes time to sell. Units where I live are not going to get $100K or more; in fact, we had a foreclosed unit sell for $60K (it needed a ton of work). I have about $15K in equity and an overall net worth of just over $100K. (Pension is not factored in to our net worth as that is projected, not guaranteed, income.)
UpstateNYUPSer(Ret)
Well-Known Member
Re: Obamanomics
Not at all---I was just trying to give a possible explanation of the downward trend on median net worth.
Not at all---I was just trying to give a possible explanation of the downward trend on median net worth.
Re: Obamanomics
I just bought a house to live in, was not forward looking enough to do all the planning. Im also stuck with a house I have been renting, which is draining me. Was totally refurbished down to the plaster/now drywall in 2005. Dont want it, its distant, and something happens every week. Im ready to dump it all say I give up and go bankrupt. Oh wait I cant, I actually own things of value. I need a bailout!!!!
I just bought a house to live in, was not forward looking enough to do all the planning. Im also stuck with a house I have been renting, which is draining me. Was totally refurbished down to the plaster/now drywall in 2005. Dont want it, its distant, and something happens every week. Im ready to dump it all say I give up and go bankrupt. Oh wait I cant, I actually own things of value. I need a bailout!!!!
UpstateNYUPSer(Ret)
Well-Known Member
Re: Obamanomics
I knew that I wasn't going to retire here so I bought something that I knew I could either sell easily or keep as a rental property.
I knew that I wasn't going to retire here so I bought something that I knew I could either sell easily or keep as a rental property.
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