Americans see biggest monthly income drop in 20 years

This is happening while Wall Street and Multi-Nationals are making record profits. So much for Hope and Change. Obama is the most dangerous President we have seen in years. This is because most of the media don't report on Obama, they cover for Obama.

Under Obama, there has been a massive transfer of wealth from middle and lower income people to multi-national corporations who invest overseas in emerging markets as they keep being flooded with cheap dollars.

If there's an anti-christ, he definitely has a blueprint to follow with Obama.

Americans saw their income drop so dramatically in January that it marked the deepest one-month decline in 20 years.

Personal income decreased by $505.5 billion in January, or 3.6%, compared to December (on a seasonally adjusted and annualized basis). That's the most dramatic decline since January 1993, according to the Commerce Department.

They're not able to save much, though. On average, people saved about 2.4% of their disposable income in January, down from 6.4% in December. That marks the smallest saving rate since November 2007. To top of page

money.cnn.com...

What people fail to see is Obama is bleeding the middle class and poor dry. This is the Progressive plan. Whether it's a progressive Democrat or progressive Republican.

You enrich those who are already wealthy. It's survival of the fittest. You then enslave those who are poor and now called Middle Class with a bunch of Govt. programs that will take care of them. The Progressives don't see this as enslaving anyone, it's just humane.

So you shouldn't dream or aspire to be wealthy. You should accept your station in life and thank the almighty govt. for taking care of you.

its not just obama, it seems our leadership have been selling us out to the corporations for sometime now.
tax cuts for the wealthy hoping for trickle down effect. there is an old saying, dont pee on my umbrella and tell me its raining.

reply to post by neoholographic


waitaminute!

Aren't we in a "recovery"?

Hasn't Obama created more jobs than anyone ever in the world?

All joking aside, Obama won't be happy until he sees all Americans dependent on government.

reply to post by beezzer


I agree..everytime I hear 'recovery' on the news/radio/online...I want to rip my hair out...recovery------b!tch PLEASE...

Holy selective editing OP. Did you even read your own article? How are you laying this on Obama's feet? I've never voted for the man but I value intellectual honesty. We (that is the 99%) have been getting systematically screwed for a long, long time. Until everyone stops playing these sophomoric poltical-polarization games (blame Bush, blam Obama) and start to see the real root cause of this whole mess we have NO chance of turning things around.

reply to post by beezzer


Exactly, but it was plain to see the direction Obama wanted to go.

He said the Constitution was fundamentally flawed and a charter of negative liberties. He also talked about things like collective salvation.

This is very specific and Progressive don't like negative liberty because it means more freedom for the individual. Positive Liberty means more Government control and less freedom especially for the poor and Middle. They think you would be better off living for the Collective which is controlled by an all powerful Govt.

So if they get you hooked on Govt., they can begin to regulate what you can or cannot do. America is in big trouble. I said in 2008, if we get 8 years of Obama, you have to truly feel sorry for future generations.

to be fair most americans have more possessions now than ever. smartphones, laptops, flat screen tvs, cars, etc etc ironically its those very possessions that keep us broke lol!!!!

Originally posted by conspiracy nut
to be fair most americans have more possessions now than ever. smartphones, laptops, flat screen tvs, cars, etc etc ironically its those very possessions that keep us broke lol!!!!

Thank you....this is probably one of the wisest things I've ever read here. The simple life has a lot to commend it.

Originally posted by neoholographic
reply to post by beezzer

 

Exactly, but it was plain to see the direction Obama wanted to go.

He said the Constitution was fundamentally flawed and a charter of negative liberties. He also talked about things like collective salvation.

This is very specific and Progressive don't like negative liberty because it means more freedom for the individual. Positive Liberty means more Government control and less freedom especially for the poor and Middle. They think you would be better off living for the Collective which is controlled by an all powerful Govt.

So if they get you hooked on Govt., they can begin to regulate what you can or cannot do. America is in big trouble. I said in 2008, if we get 8 years of Obama, you have to truly feel sorry for future generations.

The Collective.

Good god!

Our POTUS is a friggin' Borg!

Originally posted by jtma508
Holy selective editing OP. Did you even read your own article? How are you laying this on Obama's feet? I've never voted for the man but I value intellectual honesty. We (that is the 99%) have been getting systematically screwed for a long, long time. Until everyone stops playing these sophomoric poltical-polarization games (blame Bush, blam Obama) and start to see the real root cause of this whole mess we have NO chance of turning things around.

You have to be joking.

This is the problem with Obama worshippers. They have this line now that nothing is Obama's fault. Obama is just a powerless bystander. This is just insane. Did anyone read about Obama and look at the things he said before he was elected? This is exactly where he wants us to be.

I didn't support big spending Bush, but it's funny how Bush was to blame for everything when he was in office but king Obama is powerless. Give me a break!!

This is what it feels like to have "skin in the game".

-Obamanomics

Wow,nice timing. I just made a thread about the struggle im having with wages and life.

Star and flag.

Originally posted by beezzer

Originally posted by neoholographic
reply to post by beezzer

 

Exactly, but it was plain to see the direction Obama wanted to go.

He said the Constitution was fundamentally flawed and a charter of negative liberties. He also talked about things like collective salvation.

This is very specific and Progressive don't like negative liberty because it means more freedom for the individual. Positive Liberty means more Government control and less freedom especially for the poor and Middle. They think you would be better off living for the Collective which is controlled by an all powerful Govt.

So if they get you hooked on Govt., they can begin to regulate what you can or cannot do. America is in big trouble. I said in 2008, if we get 8 years of Obama, you have to truly feel sorry for future generations.

The Collective.

Good god!

Our POTUS is a friggin' Borg!

LOL, exactly.

Imagine if Bush or Reagan would have talked about Collective Salvation. Why do we need a President to bring us any kind of salvation?

reply to post by neoholographic


Do you have a reading and comprehension problem? Did I defend Obama in any way, shape or form in my post? I never voted for the man --- in either election --- as I stated, so where do you get the 'Obama worshipper' crap? BOTH sides have been screwing us for decades.

The FACT is OP, and what is clearly stated in YOUR cited article, is that this month-to-month drop is because comanies paid-out eary in December to avoid tax liabilities (causing an unusually HIGH monthly income in December) in combination with the expiring payroll tax holiday.

Get a grip for God's sake.

reply to post by jtma508


Of course both sides have been screwing people for decades, but we're talking about Obama and his policies. You hear this line all the time now everytime Obama is criticized. Well, both sides do it so you just can't blame Obama. That's just nonsense.

Both things that you cited occurred because of Obama policies. I actually said someone will read the article and then rush back to the thread to defend Obama. This is because you didn't stop to realize this happened because of Obama policies.

1. In doing so, they helped their high-income shareholders (individuals earning at least $400,000 a year, or married couples earning $450,000) avoid paying higher taxes on their gains. In their last-minute fiscal cliff deal, lawmakers decided to raise dividend tax rates for high-income households from 15% to 20%.

Obama and the Democrats wanted to raise taxes on dividends. So of course people are going to want to avoid higher taxes. Obama's liberal friends do it all the time in Hollywood. This is why they all start "production companies" to avoid paying taxes upfront. Why didn't Obama push a law to stop Actors in Hollywood from starting shell production companies so they can avoid paying taxes upfront on the money they earn?

2.The payroll tax cut's expiration also played a role in January's drop, because most workers have to pay 2 percentage points more in taxes this year. The Commerce Department's "personal income" calculation subtracts out individuals' contributions to government social insurance programs like Social Security, which are funded by the payroll tax.

Another Obama policy that shouldn't have happened in this horrible economy. You don't do the Payroll tax holiday because you know it will be very temporary. Don't give people this extra income and then just take it away. In this economy, people are going to plan financially around this extra money, so when you take it away, it becomes regressive.

SO YES, IT'S OBAMA'S FAULT!

reply to post by neoholographic


Oh I see. And from your article:

Monthly income was unusually high in December because companies paid out early dividends to avoid upcoming tax hikes. Companies like Wal-Mart (WMT, Fortune 500), Oracle (ORCL, Fortune 500), and Costco Wholesale Corp paid special dividends to their shareholders at the end of 2012, instead of waiting until 2013.

So the increase in December was Obama's 'fault' too? Or just the lower January??

Also from your article (referring to the early payout and expiring payroll tax holiday):

Excluding those special factors, the Commerce Department estimates that after-tax income actually increased 0.3% in January.

...All of that said, consumers are benefiting from a housing recovery and rising stock prices. The Consumer Confidence Index rose in February, showing that Americans are more upbeat about the economy than they have been in two months.

The progressive plan is to destroy the middle class and the poor.
Then get them all riled up for the communist revolution.

Not for communism, but for a top down, authoritative, iron fisted dictatorship.

There can't be a middle class, if revolution is the goal.

Only two sides, rich and poor.

Communism was never really the goal in communist countries.
Absolute power was the goal.

Wake up.
Democrats are tyrants. All of them.
Progressive republicans are tyrants.

Originally posted by conspiracy nut
to be fair most americans have more possessions now than ever. smartphones, laptops, flat screen tvs, cars, etc etc ironically its those very possessions that keep us broke lol!!!!

That`s an excellent point that most people seem to overlook. we have so many more things to spend our disposable income on now than people had even just 20-30 years ago. The real problem seems to be that people can`t decide what to buy so they try to buy everything even if they can`t afford to.
some people aren`t satisfied with just one of everything so they buy 2 or 3 of everything even if they can`t afford to.
How many video game systems does one person really need?
How many flatscreen plasma T.V.`s does one person really need?
How many computers, laptops, iphone,ipads does one person really need?
how many vehicles does one person really need?
how many pairs of shoes does one person really need?

Going into debt to buy things that aren`t a necessity is the biggest problem that most people have with their financial situation. don`t blame the government or big corporations if you are too weak to just say no to their clever advertising.

ETA: always remember this, you AREN`T what you own you ARE what you do.

simple logic

if the potus actually controlled the economy, it would come up roses every year

lots of blame to go around, starting with local, state, and congress

my freinds wife got laid off last week, her whole dept got outsourced

thanks obama!!!!

(sarcasm alarms should go off now)

reply to post by bjax9er


oh dear god, do you really believe that ? wouldn't it be simpler to move to sweden ?