Author Topic: Under Obama, Poor, Middle Class Incomes Fall Sharply  (Read 1144 times)

James

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Under Obama, Poor, Middle Class Incomes Fall Sharply
« on: October 02, 2012, 10:57:12 AM »
Despite repeated promises that he would build prosperity from the bottom up, President Obama has presided over three years of income losses for the middle class, according to the latest household income data from the Census Bureau.

Since 2009, the middle 20% of American households saw their average incomes drop 4%. In 2011 alone, they fell 1.7%. The poorest 20% have fared even worse under Obama, Census data show. Their incomes have dropped more than 7% since 2009, and are now lower than they've been at any time since 1985, after adjusting for inflation.

Read More At IBD: http://news.investors.com/100212-627662-under-obama-poor-middle-class-incomes-fall-sharply.aspx#ixzz28AKbKI1q

Soul Crusher

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #1 on: October 02, 2012, 11:17:25 AM »
Biden tells audience middle class has been 'buried' last four years

By Amie Parnes - 10/02/12 01:33 PM ET




Vice President Biden said Tuesday that the middle class has been “buried” for the last four years.

Biden made the remark at a campaign rally while arguing that Republicans would raise taxes on the middle class. He said the tax hike would be especially bad given what the middle class has been through over the last four years.
 
“This is deadly earnest, man. This is deadly earnest,” the vice president said. “How they can justify, how they can justify raising taxes on the middle class that has been buried the last four years? How in lord's name can they justify raising their taxes with these tax cuts.”
 
Republicans quickly seized on the remarks, accusing the Obama administration of implementing policies that have hurt the middle class.
 
“We agree, the middle class has been buried the past four years by Obama's failed policies from higher taxes to more debt, which is why he doesn't deserve another term in the White House to make it worse,” Kirsten Kukowski, spokeswoman for the Republican National Committee.
 
All of the Bush-era tax rates are set to expire at the end of the year. Republicans want to extend all of the tax rates, while Obama wants to end the lower rates for upper income households.
 
The vice president, campaigning in Charlotte and Asheville on Tuesday, was off to a bumpy start earlier in the day after his plane had to abort a landing attempt.
 
Biden, who arrived at his event more than an hour after its initial start time, told the crowd that there were some “queasy stomachs on our plane.”

mogulgangi

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #2 on: October 02, 2012, 11:20:51 AM »
By no means is this a lie, due to heavy buying from federal reserve and value of dollar devaluing, commodity prices rising, median income falling, and rising agricultural prices..your income will go down without you trying 

tonymctones

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #3 on: October 02, 2012, 04:27:29 PM »
palin, bush and the 1% fault

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #4 on: October 03, 2012, 01:32:33 AM »
palin, bush and the 1% fault

Maybe not but they sure dont have an answer

tonymctones

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #5 on: October 03, 2012, 03:57:59 AM »
Maybe not but they sure dont have an answer
and taxing the rich is going to help, right whork?

whork

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #6 on: October 03, 2012, 04:03:48 AM »
and taxing the rich is going to help, right whork?


Cutting healthcare for all but the uber rich is gonna help, right Tony?

tonymctones

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #7 on: October 03, 2012, 08:29:33 PM »

Cutting healthcare for all but the uber rich is gonna help, right Tony?
nice straw man, whos arguing for cutting healthcare?

you are arguing for raising taxes to deal with this problem arent you?

so is raising taxes going to help whork?

whork

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #8 on: October 04, 2012, 02:40:25 AM »
nice straw man, whos arguing for cutting healthcare?

you are arguing for raising taxes to deal with this problem arent you?

so is raising taxes going to help whork?

Ever heard of the Ryan plan?

tonymctones

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #9 on: October 04, 2012, 03:05:29 AM »
Ever heard of the Ryan plan?
never said I support it, but just bc you like to make unsubstantiated claims and pass them off as truth.

Please tell me what part specifically is going to cut healthcare for ppl?

whork

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Re: Under Obama, Poor, Middle Class Incomes Fall Sharply
« Reply #10 on: October 08, 2012, 04:29:04 AM »
never said I support it, but just bc you like to make unsubstantiated claims and pass them off as truth.

Please tell me what part specifically is going to cut healthcare for ppl?

If Romney/Ryan repeals Obamacare 30 million will lose health insurance.

If thats not i cut i dont know what is ;)