Posted on 04/01/2015 1:37:45 PM PDT by SeekAndFind
Median household income is around 54K. A family of 4 with income in the 25K range will get around 6K in Earned Income Tax Credit, so is their income 25K or 31K?
At 55K this year, we were very average. However, we’ve saved hard our whole lives, own our house and are therefor considered by many to be wealthy.
Not all new cars run $30K. Many are much less. But no, when I was young, I didn’t own a lot of brand new cars either.
And growing up in the 60s, I don’t remember a huge number of vacations. What we took were mostly weekend vacations within driving distance.
Guess I don’t think this article is very honest about the present or about the past.
In contrast to my post on vacation spots, both my wife and I find our various doctor visits much less crowded, and appointments easier to get. I believe the large deductibles of Obamacare is the reason.
They are renting their lifestyle. I couldn’t sleep at night.
That's exactly what they do, and why they have no savings. It's a whole different world. From them I learned just how very popular the political demand for debt forgiveness is going to be - we already are hearing the first hints. There will be demagogues elected on its basis, and it won't be good for the country.
That was certainly the case in 2007/8.
McMansions with negative equity on zero down floating rate ARMs and two leased luxury SUVs.
The federal govt operates exactly the same way, LOL.
*
They left out “morality”.
I agree. In eastern Massachusetts (yeah, I know, but I grew up here and am holding my nose and refusing to move) about $100K would be the lower end of the middle class. Believe me, I know.....
Ain't that the truth.
My dad was an airline pilot for 30 years and I make more than he did and cannot afford vacations and only a new car every 8-10 years.
Honestly, it seems a little low to me but I would guess it depends on region. Still though, 15K plus the high rates has to be a killer.
Just claim you’re a make-believe black pig farmer. There’s $50,000 right there.
“So, you’re claiming to be a pig farmer and you were discriminated against by the government. I have a bunch of pictures of farm animals on the wall behind me. Which one is the pig?”
“Ummmm.....the one on the far right?”
“That’s the light switch. Here’s your check.”
Not buying it. Standard of living has never been better. Have you tried getting a table at Texas Roadhouse on a Friday or Saturday night?
I rest my case.
The peanuts! All those peanuts.
I think that figure obscures as much as it illuminates. I have seen figures that 30-50% of credit card holders do not carry a balance, and that those very high credit card debt figures are skewed to a very small percentage that have very high balances.
Helpful. Thanks.
I’m there with folks on the vacation piece. You give up other things on this list to do/pay for any of the others.
It’s whack-a-mole living.
I had a summer job back in the 70's working in the collection department of a bank in flyover country. Had to make a few late payment reminder calls to influential people with cc balances of $25K and above.
Some of the sources and facts in this article are questionable. Feeding America is used as a source about the availability of food? I’d like a second opinion please.
There are numerous statements in this article that need fact checking.
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