Good as in decent life? or good as in Shrinkbrenner lifestyle?
It's a tough one, there are so many factors.
1. Cost of living. You'd be well off with 40K in the midwest, but a pauper in NY.
2. Family. Alimony, 529's, etc ...
3. Age. Do you need health insurance? Have you saved for your retirement?
Tons of variables in this one.
It's a tough one, there are so many factors.
1. Cost of living. You'd be well off with 40K in the midwest, but a pauper in NY.
2. Family. Alimony, 529's, etc ...
3. Age. Do you need health insurance? Have you saved for your retirement?
Tons of variables in this one.
INCOME AND WEALTH INEQUALITY IN THE UNITED STATES No. 304
Unfair inequality in the distribution of income and wealth and persistent poverty continue to jeopardize equal opportunity and democracy as the United States begins the 21st century. Extreme inequality of income and wealth gives huge economic and political power to big corporations and wealthy families and weakens the sense of community and common purpose essential to a democracy;
Income inequality is worse in the United States than in other major industrial countries. Austria, Canada, and 10 European countries have much more equal distribution of income;
WHEREAS, recent U.S. Census Bureau statistics show the rich are still getting m richer, middle income Americans are just barely raising their incomes; and the poor are falling still further behind on the income ladder. The gap between rich and poor is now bigger than it has been since the 1930s. An incredible 98% of the 1979-92 gain in total household income went to the top 20% of the wealthiest households. The remaining 2% gain in total household income was shared by the remaining 80% of households.
WHEREAS, the richest fifth of families receive 47.2% of total income and the poorest fifth receive 4.3% -- a record high ratio of 11 to 1. The richest 5% of families receive 20.3% of income -- equal to the income of the lower 50% of families;
WHEREAS, in 1995 the richest 10% of the population owned 70% of all the wealth -- up from 50% in 1976 and the richest 1% owned 35.1% of all wealth, while the bottom 80% owned 31.5%.
WHEREAS, 32.3 million Americans (11.8% in 1999) live in poverty. Two thirds of America's poor are white, but the poverty rate for African Americans and Hispanics is three times the rate for whites. Almost one out of five children, about 12 million children, live in poverty. Two out of every five Black and Hispanic children live in poverty and the average income for families in poverty is half the poverty threshold.
WHEREAS, average hourly wages for private, non-farm production and non-supervisory workers (about 80% of all workers in early 1998) were $12.77. By contrast, in the last years of the 1970s, the average hourly wage was $14.23 expressed in 1998 dollars to adjust for inflation. In other words there has been a drop of 10% in the buying power of wages in the past two decades. At the same time, as Business Week reported corporate profits in 1997 were "taking an ever-rising share of national income, the highest since 1968."
Whereas the Bush W. Bush tax legislation has sharply worsened the already existing inequitable distribution of income and wealth through the elimination of the estate tax, the disproportionate cuts in the income tax rates, and other provisions favoring most affluent families and powerful corporations.
THERE FORE BE IT RESOLVED THAT:
1. Deep cuts in programs designed to serve low-income families and individuals, including the working poor, the disabled, and the elderly, must be reversed. Needed funds can be gained through cuts in corporate welfare, further cuts in defense spending, and a reduction in tax cuts for the wealthiest. In addition, the George W. Bush budget proposal makes further unacceptable cuts to these programs, and should be revised radically.
2. The Federal Government must take a role in expanding job opportunities through such programs as public works and public service, and increasing access to year- round full-time jobs. In the spirit of President Franklin D. Roosevelt's Economic Bill of Rights, the Federal Government must create year-round full-time livingwage jobs when private industry does not provide enough of them for all who want to work. All new programs must include strong anti-displacement and wage protection language.
3. Laws must be passed to require equal benefits for those at the top and bottom of corporate America. Executives should not be permitted to increase their pension and health care packages at the same time that they are cutting those for lower-income workers. The Federal Government also should require employers to provide a minimum level of health, pension and other benefits, as it does with the minimum wage. Additionally, corporations must be required to offer paid maternity leave to all women so that women do not have to chose between their jobs and the best interests of their children.
4. The government should play a role in providing effective life-long training and education. Everyone who wants to go to college, trade school, or other job training should have the opportunity to do so. The Federal Pell grants program should be expanded, as should the student loan program. The Federal Government also must play a larger role in elementary and secondary education, and ensure equality of educational opportunities across all income levels.
5. The extremely regressive George W. Bush's tax cut, giving the top 1% of taxpayers close to 40% of the reduction will cost the Treasury at least $1.8 trillion over the next decade. That huge drain will more than absorb the anticipated gimmick filled surplus, and force sharp erosion of funds needed for vital, social and domestic programs, like health, welfare, education and environment. This impact reflects the Republican polices of curtailing federal programs for meeting citizens' needs.
6. The U.S. must move closer to a progressive system of taxation to mitigate inequality. Currently-pending tax cuts, with the greatest benefit going to the wealthiest Americans, must be rejected in favor of a fairer system.
7. International trade pacts should be designed to bring other workers up to U.S. standards rather than pulling down the wages of U.S. workers. The U.S. must require its trading partners to adhere to environmental, child labor and human rights standards at least equal to those of the U.S. Taxes on U.S. companies who manufacture goods outside the U.S. and import them into the U.S. should be treated in the same manner as U.S. companies who manufacture goods in the U.S. Subsidies to corporations that export jobs should be eliminated. This will discourage companies from moving jobs overseas to increase profits; any increase in revenue should be used to provide job training for displaced workers in the U.S. as well as to monitor conditions for workers in developing countries.
8. The Federal Reserve Board must focus on high employment/high growth instead of focusing on potential higher inflation and then mandating higher interest rates each time the economy begins to grow.
9. The Federal Government must take action to encourage the growth in unions as well as protecting the rights of unorganized workers. Unions can thrive only when the right to collective bargaining is guaranteed effectively and enforced by the government.
Unfair inequality in the distribution of income and wealth and persistent poverty continue to jeopardize equal opportunity and democracy as the United States begins the 21st century. Extreme inequality of income and wealth gives huge economic and political power to big corporations and wealthy families and weakens the sense of community and common purpose essential to a democracy;
Income inequality is worse in the United States than in other major industrial countries. Austria, Canada, and 10 European countries have much more equal distribution of income;
WHEREAS, recent U.S. Census Bureau statistics show the rich are still getting m richer, middle income Americans are just barely raising their incomes; and the poor are falling still further behind on the income ladder. The gap between rich and poor is now bigger than it has been since the 1930s. An incredible 98% of the 1979-92 gain in total household income went to the top 20% of the wealthiest households. The remaining 2% gain in total household income was shared by the remaining 80% of households.
WHEREAS, the richest fifth of families receive 47.2% of total income and the poorest fifth receive 4.3% -- a record high ratio of 11 to 1. The richest 5% of families receive 20.3% of income -- equal to the income of the lower 50% of families;
WHEREAS, in 1995 the richest 10% of the population owned 70% of all the wealth -- up from 50% in 1976 and the richest 1% owned 35.1% of all wealth, while the bottom 80% owned 31.5%.
WHEREAS, 32.3 million Americans (11.8% in 1999) live in poverty. Two thirds of America's poor are white, but the poverty rate for African Americans and Hispanics is three times the rate for whites. Almost one out of five children, about 12 million children, live in poverty. Two out of every five Black and Hispanic children live in poverty and the average income for families in poverty is half the poverty threshold.
WHEREAS, average hourly wages for private, non-farm production and non-supervisory workers (about 80% of all workers in early 1998) were $12.77. By contrast, in the last years of the 1970s, the average hourly wage was $14.23 expressed in 1998 dollars to adjust for inflation. In other words there has been a drop of 10% in the buying power of wages in the past two decades. At the same time, as Business Week reported corporate profits in 1997 were "taking an ever-rising share of national income, the highest since 1968."
Whereas the Bush W. Bush tax legislation has sharply worsened the already existing inequitable distribution of income and wealth through the elimination of the estate tax, the disproportionate cuts in the income tax rates, and other provisions favoring most affluent families and powerful corporations.
THERE FORE BE IT RESOLVED THAT:
1. Deep cuts in programs designed to serve low-income families and individuals, including the working poor, the disabled, and the elderly, must be reversed. Needed funds can be gained through cuts in corporate welfare, further cuts in defense spending, and a reduction in tax cuts for the wealthiest. In addition, the George W. Bush budget proposal makes further unacceptable cuts to these programs, and should be revised radically.
2. The Federal Government must take a role in expanding job opportunities through such programs as public works and public service, and increasing access to year- round full-time jobs. In the spirit of President Franklin D. Roosevelt's Economic Bill of Rights, the Federal Government must create year-round full-time livingwage jobs when private industry does not provide enough of them for all who want to work. All new programs must include strong anti-displacement and wage protection language.
3. Laws must be passed to require equal benefits for those at the top and bottom of corporate America. Executives should not be permitted to increase their pension and health care packages at the same time that they are cutting those for lower-income workers. The Federal Government also should require employers to provide a minimum level of health, pension and other benefits, as it does with the minimum wage. Additionally, corporations must be required to offer paid maternity leave to all women so that women do not have to chose between their jobs and the best interests of their children.
4. The government should play a role in providing effective life-long training and education. Everyone who wants to go to college, trade school, or other job training should have the opportunity to do so. The Federal Pell grants program should be expanded, as should the student loan program. The Federal Government also must play a larger role in elementary and secondary education, and ensure equality of educational opportunities across all income levels.
5. The extremely regressive George W. Bush's tax cut, giving the top 1% of taxpayers close to 40% of the reduction will cost the Treasury at least $1.8 trillion over the next decade. That huge drain will more than absorb the anticipated gimmick filled surplus, and force sharp erosion of funds needed for vital, social and domestic programs, like health, welfare, education and environment. This impact reflects the Republican polices of curtailing federal programs for meeting citizens' needs.
6. The U.S. must move closer to a progressive system of taxation to mitigate inequality. Currently-pending tax cuts, with the greatest benefit going to the wealthiest Americans, must be rejected in favor of a fairer system.
7. International trade pacts should be designed to bring other workers up to U.S. standards rather than pulling down the wages of U.S. workers. The U.S. must require its trading partners to adhere to environmental, child labor and human rights standards at least equal to those of the U.S. Taxes on U.S. companies who manufacture goods outside the U.S. and import them into the U.S. should be treated in the same manner as U.S. companies who manufacture goods in the U.S. Subsidies to corporations that export jobs should be eliminated. This will discourage companies from moving jobs overseas to increase profits; any increase in revenue should be used to provide job training for displaced workers in the U.S. as well as to monitor conditions for workers in developing countries.
8. The Federal Reserve Board must focus on high employment/high growth instead of focusing on potential higher inflation and then mandating higher interest rates each time the economy begins to grow.
9. The Federal Government must take action to encourage the growth in unions as well as protecting the rights of unorganized workers. Unions can thrive only when the right to collective bargaining is guaranteed effectively and enforced by the government.
posted by SrMuny:
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
Lots of quasi-socilaist bullshit
<HR></BLOCKQUOTE>
You've got to be kidding. The poor in America live better than all but the upper echelon of the global elite did a century ago.
I started a line-by-line address of those idiotic "resolutions" but then decided it would be better left alone if for no other reason of conserving bandwidth. Government interference in the economy is the single greatest contributor to poverty in history; whatever fvcknut website you copied and pasted these reccomendations from should be DDOS'd.
Phaedrus
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
Lots of quasi-socilaist bullshit
<HR></BLOCKQUOTE>
You've got to be kidding. The poor in America live better than all but the upper echelon of the global elite did a century ago.
I started a line-by-line address of those idiotic "resolutions" but then decided it would be better left alone if for no other reason of conserving bandwidth. Government interference in the economy is the single greatest contributor to poverty in history; whatever fvcknut website you copied and pasted these reccomendations from should be DDOS'd.
Phaedrus
