Read the Bills Act Coalition

Wednesday, April 9, 2008

What does "better off" even mean?

In a poll of middle class americans they were asked if they are better off today than they were five years ago like some how this is a gauge of our federal governement....could the people polled just be on a bad run, or have made poor decisions (like getting a ARP mortgage)? No, although it isn't explecitately stated it falls into Clinton/Obama attacks on the rich and that the middle class is suffering...I guess we have no one to blame but the government. I hate polls. From the the AP Growing numbers of middle-class Americans say they aren't better off than they were five years ago, reflecting economic pressures amid growing debt, a study released Wednesday shows. Their short-term assessment of personal progress, according to the study, is the worst it's been in nearly half a century. ...The survey by the Pew Research Center, a Washington-based research organization, paints a mixed picture for the 53 percent of adults in the country who define themselves as "middle class," with household incomes ranging from below $40,000 to more than $100,000. ...It found that a majority of Americans said they haven't progressed in the last five years. One in four, or 25 percent, said their economic situation had not improved, while 31 percent said they had fallen backward. Those numbers together are the highest since the survey question was first asked in 1964. Among the middle class, 54 percent said they had made no progress (26 percent) or fallen back (28 percent).

AP:

1 comment:

James Atticus Bowden said...

The median family of 4 in Virginia and the USA has less discretionary income (more stuff, bigger house, etc. but less extra cash) in 2005 as compared to the mid-1970s from 2 studies I read.

The real culprit is increases in the tax rate. Yes, adjusted to inflation real taxes have gone up.

That is 29.2% in VA to 32.2%. Which is about $157 @ month less to the median family in VA of $51k (and more the $83k median in NoVa).