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Elizabeth Warren: The Coming Collapse of the Middle Class
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Fri Jan 29, 2010 1:24 pm    Post subject: Elizabeth Warren: The Coming Collapse of the Middle Class Reply with quote

"A woman in 1970 who had a sixteen-year-old child was less likely to be in the work force than a woman in 2003 who had a six-month-old child at home. It was a profound shift in America."

http://www.dailykos.com/storyonly/2010/1/27/830762/-Elizabeth-Warren,-the-core-issue,-and-a-policy-litmus-test

She gives a very cogent analysis of the attack on the middle class. Scroll down a couple of inches for the video of her hour-long lecture.
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mises



Joined: 05 Nov 2007
Location: retired

PostPosted: Fri Jan 29, 2010 1:31 pm    Post subject: Reply with quote

I like Warren. Lots.

It was August 18th 1971 when Nixon set this all in motion. Life is far too expensive for a family to live on one (lower/middle-middle) income. And the breakdown of the family is very damaging for women and their kids as well.

We're on a very scary path.
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Jeonmunka



Joined: 05 Oct 2009

PostPosted: Sun Jan 31, 2010 4:09 pm    Post subject: Reply with quote

The whole financial system is one big rip-off perpetrated by buddies.
If you are not one of the buddies, forget it.
If you have empathy, forget it.

Learn how to live well as a poor person is probably the best advice.

PS: How does Korea stay afloat with public amenities and some small welfare etc at tax rates of up to 15%, whereas our western countries need 50% of our earnings as tax for the same small welfare and public amenities?


Last edited by Jeonmunka on Sun Jan 31, 2010 4:30 pm; edited 1 time in total
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Sun Jan 31, 2010 4:29 pm    Post subject: Reply with quote

Quote:
PS: How does Korea stay afloat with public amenities and some small welfare etc at tax rates of up to 15% whereas our western countries need 50% of our earnings in tax for some small welfare and public amenities?



I'm curious about that, too. There are highway construction projects going on all the time all over the place. There are new cities being built all the time. Etc. We have a pretty decent public health system (compared to the US).

How do they do it?
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mises



Joined: 05 Nov 2007
Location: retired

PostPosted: Sun Jan 31, 2010 4:37 pm    Post subject: Reply with quote

Ya-ta, the USA has 700 military bases in 130 nations. It spends 78billion on "intelligence". It spends about a trillion on "defense". It has 2 endless wars costing tens of billions each. It has more people in jail than the rest of the world. It wages a war on drugs in Columbia, Mexico and Miami/LA/DC/etc. It gives billions upon billions to "friends" (Israel, Egypt, Columbia et al).

Yeah. What a total mystery.
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Kimbop



Joined: 31 Mar 2008

PostPosted: Sun Jan 31, 2010 4:49 pm    Post subject: Reply with quote

mises wrote:
Ya-ta, the USA has 700 military bases in 130 nations. It spends 78billion on "intelligence". It spends about a trillion on "defense". It has 2 endless wars costing tens of billions each. It has more people in jail than the rest of the world. It wages a war on drugs in Columbia, Mexico and Miami/LA/DC/etc. It gives billions upon billions to "friends" (Israel, Egypt, Columbia et al).

Yeah. What a total mystery.


Also, it costs the US & Canada about 1 million dollars to pave one mile of highway. Labour is cheaper in Korea, and there's less space for roads. Korea's healthcare system isn't all-encompassing, like the UK's, for example. Korea's social welfare, EI, pensions, etc are not very glamourous. Koreans are generally good people (as opposed to Haitians): they don't commit many crimes, they have a good work ethic, they're respectful of public propoerty, etc.

Korea is truly a wonderful place.
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Fox



Joined: 04 Mar 2009

PostPosted: Sun Jan 31, 2010 5:11 pm    Post subject: Reply with quote

mises wrote:
Ya-ta, the USA has 700 military bases in 130 nations. It spends 78billion on "intelligence". It spends about a trillion on "defense". It has 2 endless wars costing tens of billions each. It has more people in jail than the rest of the world. It wages a war on drugs in Columbia, Mexico and Miami/LA/DC/etc. It gives billions upon billions to "friends" (Israel, Egypt, Columbia et al).

Yeah. What a total mystery.


I almost wrote this out word for word, excepting the specific references regarding # of military bases and country names. After I had it all written out in front of me, though, I felt it was so obvious that instead of submitting it I just moved on to something else. Razz
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Ya-ta Boy



Joined: 16 Jan 2003
Location: Established in 1994

PostPosted: Sun Jan 31, 2010 5:59 pm    Post subject: Reply with quote

That's too glib by half. There has to be more to it.
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bucheon bum



Joined: 16 Jan 2003

PostPosted: Sun Jan 31, 2010 7:15 pm    Post subject: Reply with quote

No, they're right. Defense is our biggest expense. Oh, and Korea doesn't have the monstrosity that is Medicare either. Nor tons of Vets we have to provide benefits for. And yes, Korea has pretty bare bones social services.
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bucheon bum



Joined: 16 Jan 2003

PostPosted: Sun Jan 31, 2010 7:18 pm    Post subject: Reply with quote

And btw, my take home pay here in the US is 70% of my salary. That is after fed and state taxes, health insurance deduction, and 401K contribution. IOW, not near the 50% that jeonmunka mentioned.
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Fox



Joined: 04 Mar 2009

PostPosted: Sun Jan 31, 2010 7:28 pm    Post subject: Reply with quote

bucheon bum wrote:
No, they're right. Defense is our biggest expense. Oh, and Korea doesn't have the monstrosity that is Medicare either.


Yes, Medicare does play a big role, because of how it's made. Medicare is, in the first place, very poorly setup due to its patchwork nature (this is the consequence of letting non-expert, heavily partisan politicians involve themselves in the specifics). This alone makes it inefficient. What's worse, though, is that it only includes the people most in need of health care. This increases its inefficiency astronomically from the perspective of a "cost per individual covered" basis. Reworking medicare to be more efficient and less wasteful would reduce its cost per individual covered moderately, and including the entire population rather than only the elderly would reduce its cost per individual covered substantially.

Medicare right now is just the government paying for health care for the least profitable citizen demographic while for-profit insurance companies take on the profitable demographics. This needs to change. The Korean health care system is much better setup; it can be more efficient because it covers everyone.
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Jeonmunka



Joined: 05 Oct 2009

PostPosted: Sun Jan 31, 2010 11:10 pm    Post subject: Reply with quote

Note originally I said, 'western countries.' I don't know why everyone suddenly jumps down my throat because I'm not making claims about the US. The US is a small part of our western countries. Cripes, Yata comes from Canada don't you?
Ask any NZer, Australian, European their tax and they'll tell you close to 50%. Not just income tax but VAT, GST ... it adds up.
As for NZ, it doesn't have offshore military bases, no navy, air force.

Quote:
my take home pay here in the US is 70% of my salary. That is after fed and state taxes, health insurance deduction, and 401K contribution

So, you have no land tax, no sales tax? No excise taxes?
Come on ...
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pkang0202



Joined: 09 Mar 2007

PostPosted: Sun Jan 31, 2010 11:33 pm    Post subject: Reply with quote

My ethics professor told me to put it into perspective. Who are you comparing your standard of living to.

He said when he was a PHD student, he lived in a tiny 1 bedroom studio, drove a 15 year old clunker, and had a few hundred bucks a month of money to spend. Meanwhile his friends/peers all had careers, houses, new cars, family, and etc... He said someone might look at him and his friends and say he's living poor compared to them. He looked it like this: I have a roof over my head. Hot water, electricity. I actually have a car I can drive. I can eat hot food whenever I want. I live like a King!"
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Gatsby



Joined: 09 Feb 2007

PostPosted: Mon Feb 01, 2010 2:49 am    Post subject: Reply with quote

"Coming collapse"?

The middle class in the United States collapsed a long time ago. Now it's being kicked in the teeth.

But if you complain, the Republicans will sneer that your a "socialist."

America is a democracy. I hate to say it, but ultimately Americans have no one to blame but themselves. Look who they elect and re-elect. They are like a battered wife who keeps coming home from a 40-hour a week job and cooking dinner for her abusive husband.

It doesn't have to be this way. Things aren't nearly as bad in Canada. Why? They don't elect crooked morons like George Bush to make their laws and run their country.
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RufusW



Joined: 14 Jun 2008
Location: Busan

PostPosted: Mon Feb 01, 2010 5:52 am    Post subject: Reply with quote

Kimbop wrote:
Koreans are generally good people (as opposed to Haitians): they don't commit many crimes, they have a good work ethic, they're respectful of public propoerty, etc.


WTF? How did this slip in here? Was this sarcasm? Haitians are generally bad people?
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