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Most Americans live paycheck to paycheck

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posted on Aug, 24 2017 @ 08:48 PM
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originally posted by: face23785
When I hear "owners underestimate how much will be needed to sustain operations" I think most people don't realize just how much it will cost them to comply with all the regulations and taxes. But you still have a point. Before people start a business it would behoove them to find all that out.


Most businesses are started with nickels, dimes, and money from friends, family, and fools. Vast majority of business are under capitalized because most of the start up capital comes from the owner's pocket. The owner is often the last person to get paid too. Entrepreneurs mortgage their homes, run up their credit cards, and sell their wedding rings to get capital to start a business. The risk everything, not to mention the very long hours. This is why so many people were so pissed off when Obama made that "You didn't build that" gaffe.




posted on Aug, 24 2017 @ 08:49 PM
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a reply to: Edumakated

That was kind of the point I was making with my reply to Momof3 who was implying business owners for the most part have it pretty good.



posted on Aug, 24 2017 @ 08:51 PM
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a reply to: face23785

Yep, put the batteries in the plastic container and drop off at the library.

There is costs to running a business.

The regs I have is a $25 business tax
2 extra pieces of paper at tax time
keep track of tax deductions from my business
Keep track of mileage

Any waste from a demo of a house is handled by the dumpster company

I do not think regs get in the way of small business unless they are in a regulated area of the economy.

Taxes OH MY, they are big. And there needs to be plans to pay them.



posted on Aug, 24 2017 @ 08:53 PM
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a reply to: face23785

I would expect that. Not every idea is a good one.

But, I would give it a go if I were young with a product. With the tech and globe at anytown, USA now days.



posted on Aug, 24 2017 @ 08:56 PM
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originally posted by: seasonal
a reply to: face23785

Yep, put the batteries in the plastic container and drop off at the library.

There is costs to running a business.

The regs I have is a $25 business tax
2 extra pieces of paper at tax time
keep track of tax deductions from my business
Keep track of mileage

Any waste from a demo of a house is handled by the dumpster company

I do not think regs get in the way of small business unless they are in a regulated area of the economy.

Taxes OH MY, they are big. And there needs to be plans to pay them.


But to your point earlier about the corporations loving regs, how many tax breaks are you missing out on if you don't have the expertise to go through the 70K pages or so of the current tax code and can't afford to pay a lawyer to do it? So then your tax liability is higher than it's really supposed to be, which leaves you less money to invest back into your business or just live a more comfortable lifestyle. It's always coming back to bite you some way, even if you think you've got it down pretty simple.



posted on Aug, 24 2017 @ 08:57 PM
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originally posted by: toysforadults
Ok enough with the fricken protest already.

Here is a real issue we could be talking about that actually effects everyone's lives.



Stressed couple reviewing documents Why a six-figure income is not enough for many in the U.S.
11:45 AM ET Tue, 18 July 2017 | 01:18
No matter how much you earn, getting by is still a struggle for most people these days.

Seventy-eight percent of full-time workers said they live paycheck to paycheck, up from 75 percent last year, according to a recent report from CareerBuilder.

Overall, 71 percent of all U.S. workers said they're now in debt, up from 68 percent a year ago, CareerBuilder said.

While 46 percent said their debt is manageable, 56 percent said they were in over their heads. About 56 percent also save $100 or less each month, according to CareerBuilder. The job-hunting site polled over 2,000 hiring and human resource managers and more than 3,000 full-time employees between May and June.


Well, the numbers are in, people are having a hard time saving money. This should come as no surprise to any of you because although the numbers look good on CNN, the economy in fact hasn't been doing so well for the average American. People are not buying houses cars or any of the fancy things of the past 2 generations (which isn't that big of a deal really more of a call back to reality) due to one thing in particular, rising cost of living. One of our biggest problems in this nation is the fact that cost of living has more than doubled in most cases and the wages haven't only not gone up but have actually gone done, way down.

Anyway, since this isn't about the main popular topic here I'm sure this will be glossed over.


People live paycheck to paycheck because they get caught up in the game of trying to keep up with the Jones. Spending money on things completely unnecessary like fancy phones, cable packages, Jordan's, etc.

Financial literacy should be taught starting in the 9th grade. Far too many people simply have no idea how to manage money and understand basic finance. The spend money as fast as they make it and never save for a rainy day.

There is nothing wrong with liking the finer things in life, but rich people don't get rich by spending money frivolously.

The other issue is that the impact of poor decisions these days can last you a lifetime. Dropping out of school. Catching a criminal case. The quickest way to being broke if you are a guy is getting some thot pregnant and winding up having a baby mama draining your check for child support. For a woman, letting some dead beat guy impregnate you is a sure fire to being broke. Trying to work and care for a kid you can't afford is not going to win you any races.



posted on Aug, 24 2017 @ 08:58 PM
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a reply to: face23785

I have an accountant.

But I would love a flat tax. And yes the tax code is not good.



posted on Aug, 24 2017 @ 09:15 PM
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a reply to: Edumakated

This reminds me of something I read a while ago that should be mandatory reading in all high schools.

I seldom credit Washington Post with good reporting, but it was good they ran this


originally posted by: seasonal
a reply to: face23785

I have an accountant.

But I would love a flat tax. And yes the tax code is not good.


I should have been more specific. I had switched over to the rhetorical "you" as in small businesses in general, especially the ones with razor-thin profit margins.
edit on 24 8 17 by face23785 because: (no reason given)



posted on Aug, 24 2017 @ 09:24 PM
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a reply to: seasonal

Sorry. Had a meeting to go to that was less interesting than this topic!

The idea that you can switch from one type of industry (manufacturing) to another (service) is so wrong it is not even close to wrong. They are different skill sets. Both have problems with being repetitive. But that is as close as they come. The operational differences take time to learn. And you have to be able to learn. There is an art to that which is why I have a job!

The reality is different than theory. I don't believe that this concept is known by management. They use outdated ideas to make decisions. It is causing resentment among the workers. The EQ (emotional intelligence) is lost on managers steering companies.

That disconnect will cause problems down the line.

I'll be back tomorrow to keep the thread going! Beer calls to drown the noise. And it calms me down.




posted on Aug, 24 2017 @ 09:47 PM
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Some highlights from the article I linked about America's millionaires:


On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.



Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.


This means they're not millionaires because they make high 6 figures or 7 figures a year. They're millionaires because they don't spend all their money. They really did build that themselves.


We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.


Several users in this thread have made comments about not keeping up with the Jones's. If you want to be a millionaire, that would be excellent advice.


Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.


The silver spoon staple is a myth.


About two-thirds of us work between forty-five and fifty-five hours per week.


It's a myth that they "won life's lottery". For the most part, they're wealthy because they worked hard, spent conservatively, and saved wisely.

Bottom line: stop blaming the rich, stop whining for the government to fix it, and look in the mirror. If you have financial problems, 9 times out of 10 you are the solution to them.



posted on Aug, 24 2017 @ 09:58 PM
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originally posted by: seasonal
a reply to: toysforadults


The money is being made, but it isn't be shared. This is a major reason you can't afford medical services, everything but wages have gone up.


.


The problem is the distribution of wealth. Or, lack of distribution, rather.

Too few people have too much money, and the majority have too little.

So, there's a lot of money in the hands of the few for things like investments. But, little money in the hands of many to buy basic things.

Then, its' just a matter of supply and demand. With so much money chasing investments in "interest bearing" note and bonds, the interest rates drop to the lowest level ever seen in history. The price of money is cheap, because there's too much money for investments floating around, all competing for the same small pool of borrowers to lend to.

Then, since the majority don't earn enough, they have to borrow to fund their lifestyle, but they don't qualify for the low interest loans, instead they see high interest credit things like credit card debt.

There's a simple solution to this problem. Tie the credit card interest rate to the government treasury bond and note rate, so say, nobody can charge a rate for credit cards higher than 1% over the government treasury rates. That would bring the loans in line with the investors interest rates, and reduce the disparity between the haves and the have-nots.

Or, better yet, set the credit card interest rate "below" that of the government treasury interest rates.

That would "reverse" the trend we see that makes the rich richer and poor poorer, and bring both rich and poor back into the middle class.

But, which government is bold enough to implement these "controversial" changes?

Not Trump, that's for sure.

We need a revolution, for that.



posted on Aug, 24 2017 @ 10:01 PM
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I agree OP. There are 99 problems in the world and a statue ain't 1.

The fact the left get so wrecked is insane. Even the feminist wrecked it. Remember the days a man could go to work and supply a house with wife and 2-3 kids, while the wife stays home and not have hellions running around? Family..values..? Mother's biggest job is being a mother. Nothing in the household is more sacred. Now women aren't even producing kids! Their so caught up in trying to stay afloat financially the thought of kids is financial suicide. By time get out college in high educational fields some are baron.

Now both have to work, no time for dinner, the state and entertainment brainwash our kids, and even with two paychecks you're still a fart in the wind. Please, someone, Make America Great Again.



posted on Aug, 24 2017 @ 10:09 PM
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originally posted by: AMPTAH

originally posted by: seasonal
a reply to: toysforadults


The money is being made, but it isn't be shared. This is a major reason you can't afford medical services, everything but wages have gone up.


.


The problem is the distribution of wealth. Or, lack of distribution, rather.

Too few people have too much money, and the majority have too little.



The top percentage have most of the money, but that's not why most people are struggling. Most people make enough to live on, which is all even the most entitled of us should expect. In the US we literally call people with a roof over their head, a car in the driveway, TV, phones, all kinds of commodities "below the poverty line". 80% of the world's population would slap you silly for complaining about how you "have too little".

And by the way, your solution is riddled with financial ignorance. You're comparing the interest rate on invested money to borrowed money. That's simply absurd. Not to mention this scheme of yours would give people even more incentive to rack up debt and buy # they don't need, which is why most of them are in trouble in the first place.
edit on 24 8 17 by face23785 because: (no reason given)



posted on Aug, 24 2017 @ 10:19 PM
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This might warrant it's own thread, but another reason wages have stagnated is the women's liberation movement. The huge numbers of women entering the workforce since the 60s has significantly increased the labor pool on the supply side which has driven down wages.



posted on Aug, 24 2017 @ 10:24 PM
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originally posted by: face23785

originally posted by: AMPTAH

originally posted by: seasonal
a reply to: toysforadults


The money is being made, but it isn't be shared. This is a major reason you can't afford medical services, everything but wages have gone up.


.


The problem is the distribution of wealth. Or, lack of distribution, rather.

Too few people have too much money, and the majority have too little.



The top percentage have most of the money, but that's not why most people are struggling. Most people make enough to live on, which is all even the most entitled of us should expect. In the US we literally call people with a roof over their head, a car in the driveway, TV, phones, all kinds of commodities "below the poverty line". 80% of the world's population would slap you silly for complaining about how you "have too little".

And by the way, your solution is riddled with financial ignorance. You're comparing the interest rate on invested money to borrowed money. That's simply absurd. Not to mention this scheme of yours would give people even more incentive to rack up debt and buy # they don't need, which is why most of them are in trouble in the first place.


The standard of living in America is very high. Even our poor live better than the upper class in most countries. As you state, poor in America still means having a roof over your head, car, Xbox, cell phone, TV, shoes, clothes, public schooling, air conditioning, etc. Any ghetto in America would look like a life of luxury compared to some places I've seen in South America, Carribean, Africa, India, etc.



posted on Aug, 24 2017 @ 10:34 PM
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originally posted by: 3NL1GHT3N3D1
Wanna know where all that money is going? Look toward the offshore accounts of the mega rich. They're using these tax havens to drain the middle class dry in my opinion.

CEO Pay Has Grown 90 Times Faster than Typical Worker Pay Since 1978


To be fair, CEOs are running significantly larger enterprises than from the 70s. Global enterprises employing hundreds of thousands of people in some cases. In addition, CEO compensation is largely tied to stock performance which gained in popularity in the 80s / 90s. F500 CEOs make a lot because they run one of the 500 largest companies in the world.

Complaining about CEO pay is like complaining about some A list actor making $20 million a film. They are a small number and in no way represent all actors just like f500 CEOs are not indicative of the typical small business owner.

It is not just CEOs though. Actors and athletes also have seen significant increases in income because their brands are global now and reach much larger audiences.



posted on Aug, 24 2017 @ 10:47 PM
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a reply to: Edumakated

Productivity has increased dramatically. Traditionally the gains in productivity had a relationship with wages. That stopped in the mid 1970's.
By coincidence CEO pay started to outpace works at the same time.
Union membership has fallen since the 1970's as well.

There is something to be said that the gains made by companies are not be shared with the worker.



posted on Aug, 24 2017 @ 10:54 PM
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a reply to: cynicalheathen



Who forced the young people to get that debt? Was a gun held to their head?


Society has pounded the idea in many young people's minds in order for them to get a good paying job they need a college education. The big problem is, young high school graduates are not counseled thoroughly before making decisions on attending college or a trade school. A lot of these kids don't even know what they want to do after graduation! So many of them think attending college is just the next logical step to take. Nobody gives these kids a real honest outlook on job availability, income expectations and the advantages between getting a trade school education in a particular field as compared to a college education. They also don't get a real world budget expectation based upon average career salaries.

Granted some jobs require young people to get a college degree such as doctors, lawyers, teachers, etc.... However, there are a lot of dead-end degrees out there which many students realize too late after spending thousands of dollars for their 4 year degree.

Colleges and Universities have become big business. Just look at how many scholarships they give to athletes and building huge athletic facilities. Sporting events bring in big money to universities. They could care-less if a particular high school graduate is college material, as long as you have the money to pay their ridiculous tuition costs. Colleges spend millions of dollars every year on their campuses, beautifying it and building new facilities just to attract high school graduates. (A good portion of those millions are the reason why tuition costs have skyrocketed!) Colleges are currently seeing a decline in enrollment and will eventually price themselves right out of the education market.

If being ripped off by colleges isn't bad enough, nearby landlords have been taking advantage of students by charging outrageous rental fees to students who live off-campus.

I applaud you for having enough sense to research and decide the best approach to your current career, but many young high school students are taken advantage of by promises of jobs and huge pay checks at the end of the rainbow. Unfortunately, many find at the end of that rainbow nothing but a huge pile of debt.



posted on Aug, 24 2017 @ 10:55 PM
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a reply to: Edumakated

Great explanation. Most of the socialist talking points are easily refuted as you have just done. It's not hard to understand, but those little "capitalism is evil" tidbits sound so much smarter to impressionable young people.



posted on Aug, 24 2017 @ 10:56 PM
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a reply to: WeRpeons

I was trying to explain this on the last page but you did a much better job. Well said. The other thing that pisses me off about this is these colleges are blowing money left and right on their sports programs and buildings and whatnot, charging people through the roof for tuition, but then we're supposed to feel bad when the government decides they don't need grant money anymore.
edit on 24 8 17 by face23785 because: (no reason given)




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