Why I don't buy the 4.5% Unemployment Rate
- Thread starter crgarcia
- Start date
You guys are insane. How can you make that statement with a straight face that one cannot live on 30k a year? Sure, maybe that would be tough in manhattan, San Francisco, or Boston but in 98% of the country, once can easily live on 30k a year. In fact, on 30k a year the average person can get a mortgage and a car payment. Seriously this site never ceases to amaze me.
Also Europe right now is a mess. I wouldn't compare our economy to theirs. Remember, 10% unemployment is the NORM there, not the exception.
Also, keep something in mind regarding household surveys, most people under report their income and their job situation. You know why? Because they are answering a government survey!!!!! Most these people are not paying taxes in their "home based income" or side business. The last thing they want to do is tell someone over the phone they are running 3 very successful side businesses that are thriving when they paid a minimum of taxes last year! Think about it.
Also Europe right now is a mess. I wouldn't compare our economy to theirs. Remember, 10% unemployment is the NORM there, not the exception.
Also, keep something in mind regarding household surveys, most people under report their income and their job situation. You know why? Because they are answering a government survey!!!!! Most these people are not paying taxes in their "home based income" or side business. The last thing they want to do is tell someone over the phone they are running 3 very successful side businesses that are thriving when they paid a minimum of taxes last year! Think about it.
Laughable....to say the least.
The most corrupt country on earth. This is a country that can blow away it's own president, start illegal wars blah blah blah!
The US has been accusing China of manipulating it's economy for a while now....so it stands to reason....manipulation is the play for the day.
The American dream. Ha ha ha!
Yeh! Whatever!
The most corrupt country on earth. This is a country that can blow away it's own president, start illegal wars blah blah blah!
The US has been accusing China of manipulating it's economy for a while now....so it stands to reason....manipulation is the play for the day.
The American dream. Ha ha ha!
Yeh! Whatever!
Quote from dandxg:
Right you make my point, $12.50 is low pay in my world. Boatloads of jobs that pay under 30k a year. Try and live on that in any place but the Mid West. Heck I heard starting wage at Wallmart is $10 an hour. Did you see the segment on CNBC the other day. Illegals in the Hamptons getting $17 plus an hour. You know those guys shack up 10 to a house in some NY getto neighborhood.
You are getting a good deal on your maid BTW. In OC, CA to clean my Mom's house it's $45 for 3 hours worth of work, cash money. Believe me I seen what cheaper help does. They wash her wool jackets in the wash, without being asked, and f*ck them up!
They opened a new Walmart near here last year and got 25,000 applications for the 350 jobs. The pay was around $10/hr. Luckily unemployment is low. Just imagine if it was high. So many people trying to LIVE on $7.00 an hour. It just isn't possible unless you have free rent.
OK, let's get more specific and clear up the confusion. 30k paid in cash for an illegal or under the radar work sure. That's 2500 a month. Given those numbers how much mortgage can you afford and make a car payment of say $300 a month, eat, go to the doctor, and still pay mortgage, ins. You make some good posts on this site, but you should really re-think this one. You have forgotten where you started. I bet alot of the cars out there and mortgages would eat that measly $2500 cash alive in the blink of an eye.
When I went from doing social work, really low pay in 95' I decided to get in to biz because I couldn't pay my bills. I had no exp and I had to take an job in business that would hire me. This was in 97', I was in my late 20's, and it paid less than 30k. After taxes were taken out I could barely afford a room to rent in a nice house, utilities, car insurance, gas, good and I was lucky to save. Sure I grew up and lived in OC, CA at that time, but 30k is nothing. Yes I got a tax refund, but the don't refund FICA, etc as you know.
Europe in a mess? Sure they have problems, but one the don't have is a money sucking hole called the War in Iraq that will bankrupt his country if we stay there. Sorry let's be specific so you don't think I am insane.
It will cause our country to default on it's debt if we continue to stay.How's that for specific. Honestly, the problems Europe has are not much different than ours. They have alot of social programs and a declining birth rate. We have less social programs and declining birth rate too. So who is going to $$$ ? Our USD is getting it's butt kicked by every foreign currency and there is little to do if we wanted to stop it. Raise rates and watch the housing bubble really collapse. Lower rates and watch China and other nations refuse to finance our debt. How's that for a logical argument?:eek:
Rent here starts at about $700/mo for a low cost 1 br apartment anywhere but in a slum. That is a huge percentage of income for someone making $10/hr.
Quote from dandxg:
OK, let's get more specific and clear up the confusion. 30k paid in cash for an illegal or under the radar work sure. That's 2500 a month. Given those numbers how much mortgage can you afford and make a car payment of say $300 a month, eat, go to the doctor, and still pay mortgage, ins. You make some good posts on this site, but you should really re-think this one. You have forgotten where you started. I bet alot of the cars out there and mortgages would eat that measly $2500 cash alive in the blink of an eye.
When I went from doing social work, really low pay in 95' I decided to get in to biz because I couldn't pay my bills. I had no exp and I had to take an job in business that would hire me. This was in 97', I was in my late 20's, and it paid less than 30k. After taxes were taken out I could barely afford a room to rent in a nice house, utilities, car insurance, gas, good and I was lucky to save. Sure I grew up and lived in OC, CA at that time, but 30k is nothing. Yes I got a tax refund, but the don't refund FICA, etc as you know.
Europe in a mess? Sure they have problems, but one the don't have is a money sucking hole called the War in Iraq that will bankrupt his country if we stay there. Sorry let's be specific so you don't think I am insane.
Honestly, the problems Europe has are not much different than ours. They have alot of social programs and a declining birth rate. We have less social programs and declining birth rate too. So who is going to $$$ ? Our USD is getting it's butt kicked by every foreign currency and there is little to do if we wanted to stop it. Raise rates and watch the housing bubble really collapse. Lower rates and watch China and other nations refuse to finance our debt. How's that for a logical argument?:eek:
Sorry, politics aside, your argument still holds no water. Let's get down to brass tax here. A good friend of mine here in Chicago works at a prop futures firm. makes 30k a year. pays taxes!!! He owns a condo in Lincoln Sq, pays about 1200 a month on his mortgage. His transportation is $70 a month for CTA. His condo is loaded with all the usual goodies. Actually has a motorcycle too he rides on the weekend. Goes out 3 nights a week. Granted he is single, no kids, etc, but he is living it up pretty good. Now this is Chicago. Not Des Moines, Iowa, not Munster, Indiana, not Little Rock, Arkansas, not 98% of other places he could live that would actually be cheaper!!!!
Does he have a low killed job? Is he barely making it? LOL. He would laugh if you heard him say that. Granted he is not saving any money, but he is quite happy. It's not as hard as you think. I will say it again, for 98% of the places you could live in this country, 30k is an acceptable wage for most people. Certainly livable.
I really don't care what your macro outlook is on this country or your feelings about the war as they are irrelevant to this conversation. I stand by my statement.
If all you spent your money on was the basics like the people who grew up in the 50's did then its dirt cheap to live.
All you need is a small house median priced house. A paid off small car and a budget that does not include bar hopping, nail salons, eating out, landscapers, designer clothes, dope, exotic vacations, mulitple pairs of nike's, tv's in every room and credit card debt.
John
I take it back. There are some intelligent people on ET. Good post John.