Politics Magazine

Half Of Americans Worry About Their Financial Situation

Posted on the 12 May 2016 by Jobsanger
Half Of Americans Worry About Their Financial Situation
This chart was made from a recent Gallup Poll -- done between April 6th and 10th of a random national sample of 1,015 adults, with a 4 point margin of error.
Respondents were asked to rate their own financial situation. It turns out that 50% said their financial situation was either excellent or good -- and that's how Gallup titled their poll. I would have titled it different. While it's nice that the 50% are happy with their financial situation, the real story (real tragedy) is that 49% of Americans rate their financial situation as only fair or poor.
Is that an acceptable situation in the richest country on Earth? NO. It's not even close to being acceptable!
But it is true. Other surveys have shown that while the median income is $45k-$50k a year in this country, that doesn't tell the real economic story of Americans. That figure is skewed upwards by the obscenely rich. The truth is that half of American families live on an income that is 150% of the poverty level or less. In other words, they are only a paycheck or two from dropping down into poverty (if not already there).
It didn't use to be this way in this country. There have always been those who are poor or struggling to stay above the poverty level, but it is ridiculous that half of the people in this country can now be described this way. What caused it? The "trickle-down" economic policies instituted by Republicans in the Reagan administration, and doubled down by them in the Bush II administration.
That policy has weakened labor unions, encouraged the off-shoring of good jobs, stifled wages by encouraging companies to not share rising productivity, and kept the minimum wage at a poverty level. It has tilted the economic playing field to favor the rich, and to punish all other Americans.
This economic policy must be changed so it is fair for all Americans (and not just the rich). But that can't happen until the Republicans are voted out of power. As long as they control either House of Congress, they will block any effort to institute a fairer economic policy.

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • BNV002: That Vegan Conversation

    BNV002: That Vegan Conversation

    <Press the PLAY button above to listen to the podcast, or you can download it for later. > That Vegan Conversation Show Notes We’ve all had that... Read more

    The 24 February 2018 by   Chuck Underwood
  • Snoop Dogg Inspiring Netflix Series “Coach Snoop” Is A Must See

    Snoop Dogg Inspiring Netflix Series “Coach Snoop” Must

    ChristianNews Snoop Dogg new Netflix series “Coach Snoop” shows viewers another side of the famed rapper from Cali. The 8 episode Netflix series, centers... Read more

    The 24 February 2018 by   Firstladyb
  • Nuclear Accidents

    Nuclear Accidents

    diagrams: Chernobyl reactor before and afterNuclear fission is one of the world-changing discoveries of the mid-twentieth century. Read more

    The 24 February 2018 by   Dlittle30
  • Concert Review: A Cure for Pomposity

    Concert Review: Cure Pomposity

    The Vienna Philharmonic returns to Carnegie Hall. by Paul J. Pelkonen Gustavo Dudamel (standing) at the helm of the Vienna Philharmonic. Read more

    The 24 February 2018 by   Superconductor
  • Sixer’s Sevens: Middlesbrough Take One Point. Do Our Players Get Another?

    Sixer’s Sevens: Middlesbrough Take Point. Players Another?

    Jake: ‘it’s not always pretty’ We were 1-0 up when I started setting this up, just after half time. By the time I’d got the page ready for Pete Sixsmith we... Read more

    The 24 February 2018 by   Colin Randall
  • NYC Event Alert: Vionic Shoes Invites You to #DiscoverTheSecret

    Event Alert: Vionic Shoes Invites #DiscoverTheSecret

    Just in time to celebrate National Women's History Month, Vionic Shoes celebrates women's empowerment with the launch of "The Secret". In partnership with Elle... Read more

    The 24 February 2018 by   Dynelle Skinner
  • Who’s Hungry?

    Who’s Hungry?

    I flatter myself to think that some people enjoy my daily musings, although they’re sometimes grim. Religion often is. One curious example of this is the... Read more

    The 24 February 2018 by   Steveawiggins