Why are most Americans poor | Why Americans Feel So Poor?

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Why are most Americans poor  | Why Americans Feel So Poor  Experts prefer the term squeezed instead to describe what is happening to the middle class today even if you face pressure to maintain or maintain its position. The standard of living for the middle class in many American cities is not good. Americans poor

It used to be that they couldn't afford to pay their rent easily, they couldn't own property if they were in their 30s, and they couldn't feel comfortable having children because they didn't realize that Having a baby will be very expensive medical care if something happens to you physically

So a lot of people don't have good enough medical care, and they don't have insurance, it all goes to some part of the squeezed middle class because the middle-class lifestyle is more expensive and uncertain. Is.

Far beyond the reach of younger generations in 2019, 60% of Millennials were part of middle-income households in their 20s, while nearly 70% of Baby Boomers meet Chantal Jacob Shantel living in the suburbs in Texas with a husband and one child. with and while the household income is just over 100,000

Her family should be in the middle-income bracket she says her family is still struggling for financial stability sounds great $500 automatically comes out of my check and then you get an insurance life insurance my spouse For myself and my son and I also have money to sign for my son's college fund it's not a lot because I can't do that much

But I want to get something for you now my check starts. Down from about 3,000 to 2200 before I touch it or rent about $1,700 electricity about 150 phone bills about 280 internets 60 we both have cars that are about 800 insurance on those cars at about 400 $4,500 a month but it keeps going up.

Our budget is low against the dollar and sometimes it's very frustrating to work all week and have people tell you that you're so lucky you have a great job and you love it with so many middle-class people. The first reason is stagnant income. Between 1970 and 2018, the share of the middle class in total income fell by 19 percent.

And by comparison, the share of the total income of high-income households grew by 19 percent, another study by the Brookings Institute noted. that the incomes of the middle class have grown half as fast as those of both the bottom 20% and the top 20%;

When taxes and transfers are taken into account, the longer I stay at a company my income stagnates, you know what adds up. which is not secure in itself In the last 40 years, middle-class workers have not been able to afford the economy

We have measured and found that the normal worker has fallen. With this 43 percentage points behind productivity growth, that means middle-class workers could have gotten one percentage point more each year in wage growth over the past 40 years.

And they didn't get it. Because our workers' share of overall income has declined and inequality has grown so that the top 10% of the economy has stopped benefiting, the cost of living has risen dramatically in recent years. has increased

To put this in the context of average household income. In the US, I'd say housing costs have only increased 16% over the past 50 years, compared to college tuition, which has increased by 190% over the same period about 264%. I moved here for the first time in this apartment

Where I live Five years ago my income was $1,100 My rent is now $1,700 That's an increase of $600 I haven't increased $600 As my income has not increased at the same rate Rising costs Costs and health Housing and Education is very real and they put a lot of pressure or the income is already high for living expenses.

Why is America so rich but many of its citizens are so poor?

Expensive coastal cities like San Francisco or New York require an annual income of at least $300,000 to qualify. wanted to do Walking down the street to work was great

And for performance, it was like $2,400 and I'm like crazy then it's like I named a townhome three bed two bath $5,500 I'm like we don't like at all. Don't pay $5,500 and I don't own it it's not mine it's just going bad

And everybody is like that and I feel like the locals are being pushed out to the suburbs and then out-of-state people can come in and enjoy. Eat beautiful Dallas fruits and have fun and stay close to restaurants because you know I have to live here

And you know it's not bad but it's not Dallas I'm from Dallas I grew up where I want to be but how is it now you know it's not just a portable policy-making and so the middle class The gist of whatever is the solution is that there is no policy with people and I feel like as soon as you get a job or as soon as you're working.

Why are most Americans poor | Why Americans Feel So Poor?

 

Or just highlight you just need a job you've got and you know go ahead and did he say the wage productivity in salaries for people starting in the '70s. It started growing slowly

But the top 1% in the stock market group with salaries actually rose and this is related to wage globalization. With low-wage countries that actually control blue-collar job opportunities in many places, the point is not that economic policy decisions may

So that economic growth cannot filter down to the bathroom, but the country was not built with walls. Hudson's response to Street CEOs and the Biden administration came into office in 2021 with a promise to build a better future for the middle class by revitalizing a trillion-dollar bipartisan infrastructure bill starting in November 2021. The act includes both.

ude provisions are intended to provide financial assistance to middle-income families, but as Congress continues to stall, only time will tell if these bills will actually have an impact on the survival of middle-income families. were struggling. Still, you know I'm trying to make every dollar count

So it seems to me that if the changes are happening, they're not slowing down fast enough for us to see the effects. Still, we are talking about inflation and labor shortages

Which leads to this kind of supply chain gas world. I think both things are true. I think we need to be concerned because it affects how people perceive it. That American experience is working for them and the expectations are that this should increase mobile

But I think we have an increasingly uncertain labor market on the part of many Americans, and so it's important to note that that's a feature of any standard. Shame we have as much or more poverty now than we did 2 years ago

That the wages of the middle class are somewhat higher but not in proportion to what they add to their productivity in that time and what it does is bifurcated hurts. Our democracy belongs to the children of these families, and the entire middle class is teetering on the brink of collapse, an emergency, a disaster and you can see.

Even Kobe showed you how quickly people who were doing good things can fall apart and not have anything they should have. There has been a wake-up call that we need to change something 2022 American workers made an average of $27.45 an hour in 1972 the same workers made an average of $3.80 an hour. Why are most Americans poor | Why Americans Feel So Poor?