The growing economic divisions between WEALTHY and POOR, with middle-classes disappearing !  What to do ?
95870
So we drop to being a 3rd world country. This is the same gap that you see in the baltic states, south america and africa. There is little "you" can do. get wealthy? Learn to live on very little? All empires fall into this due to differant reasons. You could always spend your life moving from country to country, staying out of the ones that have the same problem. Or, save as much money as you can and move to a much poorer country and live like a king. I know they are mean suggestions- but they really are viable options
505592
I don't think so.  Puerto Rico's main issue revolves around that lack of a middle class.  Socioeconomic differences are of the hardest to resolve but I feel a political revolt is a more likely result.
297386
rich get richer the poor get poorer
1120306
You're absolutely right.  I saw some stats the other day that showed the developments in earnings for the rich, middle class and working poor and the income for the middle class group and the working poor have decreased, whereas the rich got richer. Thanks to everyone who voted for Bush and a republican congress.\nHow this happened: Long story. Lots of factors figure into it, but put simply, the fed lowered the interest rates which allowed more people to go out and get cheaper home mortgages. The real estate people jumped on it and said to people: Look, you can jack up the sales price for your home by x % because the buyers can get a bigger loan now that the interest rates are low. So one seller does it, the neighbor then jacks up the price a little more because they have a "comparative" number. ... people went for it. Interest rates dropped and dropped and the prices went up and up.\nNow, the interest rates are going back up and nobody wants to sell at a loss, so those people who bought their homes at high prices and have to sell are beginning to have difficulty selling or have to sell at a lower price. The realtors are trying to keep the prices high because they're making a killing off of this market. Builders are making a killing also because they benefit in the same fashion. They are competing against existing home owners by selling crappy built, but new, homes for the same price as a private homeowner and still make a fortune. \nThis will probably continue for a couple more years and as the rates continue to go up, a lot of people will get hurt. The foreclosure rates are already at their highest point in 6 years. People will be forced to rent, but rental rates are going up like crazy because no landlord wants to take a loss, esp not if they bought at a high price.\nThis is a capitalist society and unfortunately few people care what happens to others (dog eat dog mentality). So if you're in a low wage field, you probably suffer the most. I think it'll get a lot worse before it gets better. If we get the democrats next, they'll raise taxes but wages will not keep up. We're in a no-win situation. Think hard about who you vote for next time.
374713
Right now there is a lot of real estate speculator in the market.  This is capping off.  The highest end properties continue to escalate, but the "middle class"  housing market is slowing down.  \n\nWhat scares me is how quickly we are moving to a two class system verses a three in the U. S.  Look at what the builders are constructing- High end gated communities and massive multiple unit complexes.\n\nIf you have a single dwelling home, hold tight, You are lucky.
711972
Republicans think that rich people don't have enough money, and poor people have too much money.\n\nDemocrats think the opposite.
885887
Capitalists would probably say yes, but with an unrestrained free market and no mechanism for wealth redistribution the rich tend to get richer and the poor get poorer.  It takes money to make money.
706623
The tough thing here is we have a lot of definitions of "middle class", much less wealthy. \n\nPoor or low income=Under $20,000\nMiddle is somewhere between $20,000 and $75,000 but \nUpper Income is generally defined as over $200,000\nWealthy are those that make over $1,000,000 a year\n\nFormerly in the financial wealth management(financial planning) biz, I can tell you everyone uses different standards. But, in general, wealth is determined by a mix of net worth and annual income. (Someone making $100,000 yet has $1,000,000 in assets or someone who makes $800,000 yet has only $200,000 in assets would both be potential clients-as yes, they both exist.\n\nI've also noted that the more money one makes, the more tax deductions and credits they can take advantage of-there are few deductions for most middle class excepting mortgage interest or child credits yet at $200,000 and up, believe me, there are many!\nI've seen a $500,000 income reduced to $38,000 "taxable". If you have a nice income, pay for a good tax attorney!  \n\nAs to the Democrats, the estate tax only benefits the "rich"-those with over $2,000,000 in assets and will increase to 3.5 million so I believe that will be back on the table. I believe they will concentrate first on the obvious-the upper rates of $200,000 and above. We somehow have to pay for this debt we've accumulated from the lowering of taxes(revenue) and the cost of the war. It really matters not whether Republican or Democrat-when a business(or the government) loses a source of income and costs go up, you must find a way to pay! The US Govt has a lot better credit than most but sooner or later....so I'd personally be willing to give my tax break back-it wasn't much at my $40,000 a year income-and I hate to pass on the debt to my son.\n\nAnd a piece of advice-the 401k is one of the best savings vehicles ever-contribute all you can up to the limit but especially whatever your employer matches.A great deal for any income bracket!
810068
Wow you have posted this 3 times huh?  But I am in agreement... when middle class America ceases to exist and you only have Poor and Rich..... Then Poor America will have to have a Civil Right Movement.... would serve them right for being so greedy
1139783
I think get jobs would probably be the best!\n\nWhy does the left always want to tax the rich.  If you get a nice house I think you should give half of it to charity.  By the way it's the only fair thing to do.  Practice what you preach.  I am sure once you make money you will forget about taxing the rich......
624962
NO... they are creating a society of Rich and Poor just like in Mexico... The rich are getting richer by using the immigrants for cheap labor.. the poor are getting poorer.. and the middle class is almost non existent... That is why Mexico is like it is... and that is what we are becoming. Hope everyone is happy about that.. The middle man is a goner... :(
1080856
Under this administration the rich get richer and the middle class and poor get left out.
1163086
History shows when you destroy the middle class the economy and state will fall as well.  This is why the roman empire fell.  There can not be black and white meaning poor and rich.  Look at the depression.
1105044
That is not necessarily true. If you see how the Chinese society now, you'd see for yourself that now have social classes. There are those who are so rich that they even get listed on Forbes.com. Your properties will not get divided and spread across the society. It does not work that way now. I believe what is necessary is that you declare the investments that you'd make here and just make sure that you pay adequate taxes for them.
691013
Absolutely. Look at the segregation of class, first of all, then break it down again. I firmly believe that the people in power gain a lot by keeping segregation viable. When you have first class distinctions, then the poorer people feel bad about themselves, what they can or better yet can not provide for their families. Next they can not afford decent health care or schooling. This further segregates the people. Next you have race segregation in different neighborhoods. Not much has really changed in this area at all. a black family while having legal rights, will still be set apart from their white or Hispanic neighbors. The same holds true for a white family in a Barrio or predominately Black neighborhood. This keeps people from building each other up. When we are all kept down and separate, we don't have the strength or the resources to fight the power of the oppressors.
297402
Excellent observation.\n\nPretty soon there will be only very wealthy and poor individuals/families.  There is no job security anymore so how can anyone buy a house or other objects related to the "American Dream"?  The American dream has evolved into a nightmare.
800067
even after those "tax cuts for the rich", the people classified as rich pay a much larger percentage of their earnings than the "unfortunates"(poor) and middle class.\n\nI posted something on this a while ago, i  believe the rich pay around 33 percent earnings where the middle class pay average of 22-27 percent,and the "less fortunates" pay 5-10 percent.  (these numbers are off memory, but I'm sure they are close)\n\nThat is AFTER those tax cuts.