25 thoughts on “What Happened to Middle Class America? – The Business of Life (Episode 7)”
On this episode of the Business of Life, we get to the bottom of just what
the “middle class” is: how to get in, how to stay in, and why so many
Americans are falling out.
This just shows no one gives a shit about the LOWER CLASS which is
obviously growing. People are worried that more and more white family are
falling into poverty. However no one cares that POC have been living in
poverty since the start of this country.
That middle guy seemed legitimately mentally unstable, completely shattered
the flow between the two more informed panelists.
Still like this show but next time don’t stress having 3 talking heads next
time, just having a pair and the moderator lean in a bit more would be much
more informative.
Basically you need to get jobs back. Americans were tricked into thinking
that WTO/NAFTA was good for Americans. All they did was export all the jobs
to China, India and the like, leaving lots of people underemployed. Massive
wealth transfers happened to these Countries and Corporates, who managed
these moves. Top executives colluded for their short sighted “bonuses”.
Gainfully employed people earn money, build wealth, pay taxes and have a
healthy economy.
Question to the Canadian, as I am one. How is that possible for your
parents to only earn $20,000 between two parents? Isn’t that illegal?
what did they do for work. When was this?
High tariffs need to exist. It may hurt the economy in the short term but
long term it will force manufacturers to return to America and stop using
China.
Charlie LeDuff is such a little manbaby. I get that he’s super passionate
about this, but he’s arguing facts with sentimentality. The US free market
is harsh, and Detroit got out competed by unionized parts of our market.
Right to work states aren’t popular with corporations that prefer unions
(especially like Asian and German car manufactures). Is it any real
surprise Michigan doesn’t attract those businesses? No.
Throwing a temper tantrum because you don’t like hard facts isn’t being
passionate, however. It’s being unprofessional. How embarrassing.
A big thing that people don’t understand is that tax revenue comes mostly
from GDP. When we cut taxes, yes, there will be some lost revenue, but tax
cuts allow us to spend more, and boost our GDP. What ends up happening is
that all lost revenue from tax cuts gets made back with even more because
of the increase in GDP. In 2007, the U.S.A had one of the highest tax
revenues ever, and it happened under some of the lowest tax rates under
Bush. This is why we need tax cuts. Not just for the rich, but for
everyone.
When taxes are raised, we slow the economy which is not good at all. This
leads to people being out of work and more money being pushed into
entitlement to help folks out. I’m not saying some entitlement is bad, but
it dwarfs the economy even more, which leads to more money being needed for
entitlement. It is an endless cycle.
We are a country that spends soooo much, and we need to continue spending
that much. The only reason we haven’t had a currency crisis from being in
so much debt as a country is because our yearly debt to gdp ratio is pretty
good.
The problem will be when our debt is for too much entitlement, because
entitlement does not produce a higher gdp. When this happens, we will have
to start putting our printed money into the economy to pay off debt and
that will start to cause inflation which is no good for anyone.
don’t even get me started on how artificially lowering the cost of loans
for tuition has inflated actual costs of tuition in our country. We have an
education bubble… When 23% or so of students default on their student
debt, we are going to have an even bigger economic slowdown which could
cause a recession; the only thing keeping us out of one is our constant
extreme spending.
This kind of drifted away from taxes into other issues, but I guess my
point is that these issues are incredibly complex and we have to stop this
mentality that we can vote for entitlement/money by choosing a certain
party and that that will solve our issues.
Not one person brings up the fact that the buying power of the dollar has
continued to decrease since the creation of the federal reserve. A system
that continues to devalue the middle class through debt and the false
creation of currency through fractional banking. In fact new currency
cannot even be created without first creating debt.
The auto industry didn’t virtually fail because of high employee wages, but
because they built, and still build, shitty cars (though that’s changing),
and that gave imports a huge boost. Consumers tend not to take risks, and
developed brand loyalty for foreign car makers. American big auto fucked
themselves.
Our generation does not even know what the middle class is. My mom’s
generation worked at GM / Ford for 75 – 100k a year. 95% of those jobs are
gone.
Our trade agreements are not fair. Why can China sell everything to us be
make it very difficult for us to export product to their billion people
consumer population?
I’m all for working with China but as of now the trade agreement is not
fair and it’s finally at a point where everyone is starting to notice which
would be the middle class.
Honestly I don’t see how this is going to get better in this global
environment unless everyone works together for fair market trade
agreements.
On this episode of the Business of Life, we get to the bottom of just what
the “middle class” is: how to get in, how to stay in, and why so many
Americans are falling out.
Watch “Why is College So Expensive? (Episode 6)” – http://bit.ly/1gEn2ZS
What happened to Vice News that’s what I want to know ?
That guy in the middle interrupts so much
I just watched a shouting match, if I wanted that I’d go to Fox news.
who let that yelling jack ass on the show
This just shows no one gives a shit about the LOWER CLASS which is
obviously growing. People are worried that more and more white family are
falling into poverty. However no one cares that POC have been living in
poverty since the start of this country.
Actually, you’re referring to the lower class being in decline in America.
There IS NO MIDDLE CLASS left in america. Go back to Detroit in the 1950s
and you’ll see what middle class actually means.
Young men could buy a house and brand new car as soon as they left school.
One man could support a large family. Women were not forced into work.
Charlie is the fuckin man
That middle guy seemed legitimately mentally unstable, completely shattered
the flow between the two more informed panelists.
Still like this show but next time don’t stress having 3 talking heads next
time, just having a pair and the moderator lean in a bit more would be much
more informative.
Basically you need to get jobs back. Americans were tricked into thinking
that WTO/NAFTA was good for Americans. All they did was export all the jobs
to China, India and the like, leaving lots of people underemployed. Massive
wealth transfers happened to these Countries and Corporates, who managed
these moves. Top executives colluded for their short sighted “bonuses”.
Gainfully employed people earn money, build wealth, pay taxes and have a
healthy economy.
Question to the Canadian, as I am one. How is that possible for your
parents to only earn $20,000 between two parents? Isn’t that illegal?
what did they do for work. When was this?
Is the middle guy drunk? He’s being pretty much being an ass.
High tariffs need to exist. It may hurt the economy in the short term but
long term it will force manufacturers to return to America and stop using
China.
Charlie LeDuff is such a little manbaby. I get that he’s super passionate
about this, but he’s arguing facts with sentimentality. The US free market
is harsh, and Detroit got out competed by unionized parts of our market.
Right to work states aren’t popular with corporations that prefer unions
(especially like Asian and German car manufactures). Is it any real
surprise Michigan doesn’t attract those businesses? No.
Throwing a temper tantrum because you don’t like hard facts isn’t being
passionate, however. It’s being unprofessional. How embarrassing.
don’t worry Bernie will fix this:)
A big thing that people don’t understand is that tax revenue comes mostly
from GDP. When we cut taxes, yes, there will be some lost revenue, but tax
cuts allow us to spend more, and boost our GDP. What ends up happening is
that all lost revenue from tax cuts gets made back with even more because
of the increase in GDP. In 2007, the U.S.A had one of the highest tax
revenues ever, and it happened under some of the lowest tax rates under
Bush. This is why we need tax cuts. Not just for the rich, but for
everyone.
When taxes are raised, we slow the economy which is not good at all. This
leads to people being out of work and more money being pushed into
entitlement to help folks out. I’m not saying some entitlement is bad, but
it dwarfs the economy even more, which leads to more money being needed for
entitlement. It is an endless cycle.
We are a country that spends soooo much, and we need to continue spending
that much. The only reason we haven’t had a currency crisis from being in
so much debt as a country is because our yearly debt to gdp ratio is pretty
good.
The problem will be when our debt is for too much entitlement, because
entitlement does not produce a higher gdp. When this happens, we will have
to start putting our printed money into the economy to pay off debt and
that will start to cause inflation which is no good for anyone.
don’t even get me started on how artificially lowering the cost of loans
for tuition has inflated actual costs of tuition in our country. We have an
education bubble… When 23% or so of students default on their student
debt, we are going to have an even bigger economic slowdown which could
cause a recession; the only thing keeping us out of one is our constant
extreme spending.
This kind of drifted away from taxes into other issues, but I guess my
point is that these issues are incredibly complex and we have to stop this
mentality that we can vote for entitlement/money by choosing a certain
party and that that will solve our issues.
Not one person brings up the fact that the buying power of the dollar has
continued to decrease since the creation of the federal reserve. A system
that continues to devalue the middle class through debt and the false
creation of currency through fractional banking. In fact new currency
cannot even be created without first creating debt.
Worth it.
The auto industry didn’t virtually fail because of high employee wages, but
because they built, and still build, shitty cars (though that’s changing),
and that gave imports a huge boost. Consumers tend not to take risks, and
developed brand loyalty for foreign car makers. American big auto fucked
themselves.
The guy in the middle’s a mean drunk!
That guy in a middle is mentally impaired? Cause sure behaves like one.
I want to see Charlie LeDuff interview Donald Trump. I would pay to watch
that.
Vice news asks: What happened to middle class America? Why not start off by
asking your sponsor, Bank of America
Our generation does not even know what the middle class is. My mom’s
generation worked at GM / Ford for 75 – 100k a year. 95% of those jobs are
gone.
Our trade agreements are not fair. Why can China sell everything to us be
make it very difficult for us to export product to their billion people
consumer population?
I’m all for working with China but as of now the trade agreement is not
fair and it’s finally at a point where everyone is starting to notice which
would be the middle class.
Honestly I don’t see how this is going to get better in this global
environment unless everyone works together for fair market trade
agreements.