Posted on 12/31/2019 3:53:32 AM PST by Kaslin
These days, when you listen to the gloom of the media and many of the presidential candidates, you have to wonder what country these Debbie Downers are talking about.
Former Vice President Joe Biden recently declared, "The middle class is getting crushed. And the working class has no way up."
Sen. Bernie Sanders stews that President Donald Trump's policies have brought "handouts for billionaires and hunger for the poor."
Mayor Pete Buttigieg claims that many working families are struggling so much financially they don't have enough income to be able to "afford a two-bedroom apartment."
The Washington Post says that Americans are awash in debt they can't repay.
Time out for a dose of reality. If things are so bad, how is it that a new poll from CNN -- hardly a network friendly to Trump -- finds 3 of 4 Americans rate the economy as pretty good or really good.
We have become so rich as a nation that even most poor families can buy dolls and baseball bats and $100 Nike basketball shoes for their kids, as well as cellphones that have more computing power than every computer used to put a man on the moon.
It is nonsense to say the poor and the middle class are worse off than they were 20 or 30 or 50 years ago.
Go to any neighborhood Walmart or Target, and you will see average and even low-income Americans -- blacks, whites, Hispanics, Asians, teenagers, mothers with three kids, and seniors -- filing out of the store with sometimes two or three shopping carts overflowing with toasters, winter coats, flowers, games, dog food, stuffed animals, potato chips, video games and every conceivable piece of merchandise -- all stuffed in the back of the minivan.
The rich are doing better for sure. Our wealth as a nation has now topped $100 trillion, and the rich have a big slice of that. But well over half of all Americans own stock through 401(k) plans and other retirement savings. When the Dow Jones rises by 10,000 points in three years, it isn't just Warren Buffett who feels the wealth effect.
This past year, median family income adjusted for inflation rose to $66,000 for the first time ever. Think about that. In 90% of the world, an income of $66,000 is rich, rich, rich. The average household income in China -- which is our major challenger for global supremacy -- is less than $15,000. That's less than one-fourth of the level in America. There is an old saying that is true now more than ever: If you have to be poor, America is a good place to be poor.
For all of the constant talk about stagnant wages for the middle class since the 1970s, the average middle-income household today has access to technology, entertainment, household appliances and health care that even rich people couldn't buy in the 1960s. The folks at The Heritage Foundation have found that even poor families today are more likely to have access to things like air conditioning, dishwashers, televisions and laptop computers than middle class families did 50 years ago. These are the dividends from our free market capitalist economy.
As our old friend Arthur Laffer wisely reminds us, people don't work to pay taxes. They work and earn income so they can buy things -- for themselves and for others. And we are doing just that. Barron's just reported another blockbuster Christmas shopping season. So much for all the gibberish a few months ago about a recession. We are all spending more -- because we have more.
Yes, of course, I know money can't buy love or happiness. But let's face it: More money is a lot better than too little. Prosperity is a wonderful thing.
Call it the Jim Jones impeachment——Rev Pelosi’s journey ending in Democrat suicide.
She had the Liberal Elite under her thumb, pinned by her gavel. Too late they discovered how cunningly she curried favor.
It took Nanzi’s Bigtime Bribery to get votes of Democraps in Trump districts for impeachment.......
<><> Nanzi $$PAC promised them millions in campaign ads,
<><> they would bask in the spotlight of taking down a president;
<><> promised soaring approval numbers for voting her way;
<><> they would accompany Nanzi on her tax-paid royal excursions around the world.
REALITY CHECK The numbers dont look good for the freshmen....
support for impeachment is dwindling while Trump’s approval numbers increase.
The deep state is not happy with all the negative attention......
<><> billions in unpaid bribes, graft, and un-laundered money are choking the pipeline.
<><> Business needNanzi cunningly planned all of this.....
<><> over two years of researching her options,
<><> conferring with the Left,
<><> writing the numerous scripts
<><> handing out their roles to the various Trump haters
<><> rehearsing the actors 24/7.
<><> going to the media to deny deny deny impeachment as afoot.
Every word was focus-grouped for maximum impact.
She is a cunning scam artist.
To suggest this slimeball with a gavel doesnt know what she’s doing is the height of folly.
“Bring on the Kool-Aid.”
The problem is that those two or three carts filled with toasters, etc. is being paid for with credit cards with interest rates of up to 21%.
The problem is that those two or three carts filled with toasters, etc. is being paid for with credit cards with interest rates of up to 21%.
OOPS-—Impeachment has Dems losing votes faster they can manufacture them.
Impeachment promoter Nadler said: “We cannot rely on an election to solve our problems.”
Sounds like something Idi Amin said.
Ford is in the process of building a new factory in Michigan. Thank you, Mr. Trump!
The middle class peaked in the 1950’s and 1960’s. Although it is slightly better ow compared to then well there is no comparison.
Ford is not a reliable vehicle. I have had an LTD, a Mustang, a Mariner and all were constantly having breakdowns and huge repair bill. Never again.
Meanwhile thanks to Obamacare a middle class family of four is paying about $25,000 a year for health insurance, the family where no one works is getting it from the government at taxpayer expense.
The middle class would be doing great if they could get the government out of their pockets. I know, I'm middle class and I easily pay over 50% of my income in taxes by the time you factor all of them in. I could live like a King if I had that money back.
But I agree with you - Trump needs to create a plan to reduce public sector liabilities.
Trump seems very methodical regarding how he's attacking a series of issues - first, grow the economy and stabilize defense programs. Then retake Congress in 2020 and begin fiscal reforms.
Lower unemployment and a secured Southern border should reduce need for federal welfare spending, so that's a start in the right direction....
I expect to hear some big plans for budget reforms from the WH after Trump wins re-election.
Every month that goes by without a collapse in what appears to be a severely overextended credit sector reassures us a Trump 2020 victory.
But I am worried about the situation and I'm with you - there is too much debt out there and it's like a game of musical chairs. Any small shock means the music stops & some people are not going to find a chair to sit on.
Since the Democrats are all about 'class warfare' and social justice fakery, a Dem President (if that happened) would seize private sector retirement accounts, which approximately equal the size of the Federal Debt ($25 Trillion), and use it to bail out public union pensions and rent-seeking campaign donors on Wall Street and K Street. Like Obama did for GM unions at expense of GM bond holders. It'll be Cyprus bail-in of 2013 when the government confiscated bank accounts, only times a thousand.
Not trolling, just realistic. Let's keep our fingers crossed, the next 11 mos...
Trump will get REALLY tough after November. He’ll have nothing to lose arm wrestling the democrats.
The U.S.A. is the only country in the world where the biggest health concern of poor people is obesity.
We have “poor” fat people.
Bring on the Kool-Aid and here’s your free cell phone.
Democrats peddle doom it’s the only way they get elected other then rigging elections proof that stupidity can’t be cured.
You got that right........
Great article...
That is one thing I am really good at.
“But I agree with you - Trump needs to create a plan to reduce public sector liabilities.”
Trump has remained very publicly and vocally adamant that he has no desire to reduce government entitlements. Without that it is ultimately “Game Over” and the good guys ain’t winning.
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