Why The Middle-Class Is Disappearing

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The middle class was once a symbol of the American dream. It meant financial security and an opportunity for a better future. But that portrait of the American middle class is quite different today. A survey in 2018 found that a third of middle-income adults don’t have as much as $400 to cover an unexpected expense. And while the middle-class lifestyle grows more expensive and uncertain, it’s also moving beyond the reach of younger generations.
“It was at least a secure category,” said Alissa Quart, author of ‘Squeezed: Why Our Families Can’t Afford America,’ [but] there are certain kinds of assumptions around being a middle-class person” that have “shattered” over the past 10 to 15 years.
Some middle-income households and experts believe a lack of supporting policies might be to blame for the drastic changes.
“There is no help whatsoever,” according to Chantal Jacob, a middle-income parent from suburban Texas. “There’s no policy in place to assist people. And I feel like as soon as you get a job, as soon as you’re working, they’re just like, ‘That’s all you need, a job. You got it, go forth and have at it.’ ”
Lawrence Mishel, a distinguished fellow at the Economic Policy Institute, shares that sentiment. “It’s not that the economy got worse, it was that there were policy decisions made so that the economic growth did not filter down to the vast majority.”
The Biden administration has been pushing for several bills aimed at supporting middle-income households, including the $1 trillion bipartisan infrastructure legislation passed in November 2021 and the Build Back Better Act currently stalled in Congress. But observers say it might not be enough to save the middle class from economic hardship now and in the future.
“My friends that were struggling are still struggling,” said Jacob. “I’m still budgeting down to every dollar trying to get things done. So I just feel like if the changes are happening, they’re not trickling down fast enough for us to see the effects of it.”
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Why The Middle-Class Is Disappearing

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5 июн 2024

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Комментарии : 10 тыс.

@jthompson6189 2 года назад

Crazy to think only a few decades ago, a single working parent in a factory could support a whole family, even buying a nice house and a vehicle.

@christiandauz3742 2 года назад

Mississippi has been a shithole since the 1970s Population is going, spending money we don't having on a bloated, useless military Billionaires shouldn't exist. They should be forced to give excess wealth to government, relatives or trusted charities

@joelc9439 2 года назад

No, vehicles were expensive back then.

@malicant123 2 года назад

@Bob Indeed. The best friends that corporate capitalism could hope for are lefties. These people have damned us all.

@abdourahmanealkhalifa191 2 года назад

This is a result of outsourcing manufacturing to China, which only has benefited the upper class who own shares in these companies!

@wojak8297 2 года назад

at least you can buy stuff by printing dollars (aka credit cards), here in mexico we have some manufacturing jobs but they pay a misery and prices raise and raise, and credit card interests are exhorbitant so we can not purchase anything, we only survive. People in wall street are the biggest winners, because they use the money they print to buy assets like real estate and stocks and they get richer and richer.

@PM2024- 2 года назад

My dad and mom didn’t go to college. They both graduated high school in 1960. Dad was a plumber. Mom was a homemaker. They had four kids. Owned a nice house. And all the kids went to college. That life is gone nowadays for young people.

@joeldiaz5857 2 года назад

Plumbers make boat loads of money nowadays

@dohc1067 2 года назад

You just described my family as well. My dad was an independent building 👷‍♂️ contractor and my mom was a homemaker as well. My brothers did go to college as well. These days are truly challenging. Well stated.

@dohc1067 2 года назад

@Joscha Wexler And sir just those few words tell my story as well. I miss so many aspects of it. Well stated.

@dynamichunter843 2 года назад

My grandparents didn’t finish college. Grandma was a bank teller, grandpa was in the army and worked at a pool store. They have a nice house (for LA standards) and supported 2 kids through private colleges and were never struggling. I’m a CS new grad and don’t even see that happening to me if I ever have kids

@jinshuozhang3104 2 года назад

How can you think that kind of lifestyle is sustainable? You parents were able to do so bcos the country benefited from being the superpower post WW2. Now the country is losing in global competitions and so normal peoples lifestyle back to what it should have been

@gagnepaingilly Год назад

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

@kansasmile Год назад

Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.

@shirleneunglesbee1423 Год назад

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

@blaquopaque Год назад

@@shirleneunglesbee1423 Hi Mate, please how can i reach this CFA of yours?

@blaquopaque Год назад

@@shirleneunglesbee1423 I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.

@-Swamp_Donkey- 8 месяцев назад

Whatever you do, don’t take a serious look at what Jews who’s family immigrated to America from Eastern Europe around the turn of the 20th century have been doing.

@divlweb 9 дней назад

This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.

@mnthunder 9 дней назад

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.

@Aimee966 9 дней назад

I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more.

@divlweb 9 дней назад

@@Aimee966 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.

@Aimee966 9 дней назад

I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch….

@divlweb 9 дней назад

@@Aimee966 I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..

@billhinshillwood2670 2 года назад

Rent, cost of college, daycare and pre school, and health care costs are out of control. Most of my friends younger than me have chosen not to have kids, and I don't blame them at all for that decision.

@KN-ko8ez 2 года назад

Don’t forget being taxed to death. I am a hard-working middle class American just like you, and paid more in taxes last year than a lot of people bring home in annual salary. Ridiculous.

@HonorableBeniah-A 2 года назад

White supremacy is coming to an end in America.

@ejhockey 2 года назад

This is spot on. I am 37 and have decided not to have kids due to the exact reasons you listed. Rent, college, daycare, and health care. Exactly those four, the things that are necessary to live and raise a family are being criminally overpriced because there are no alternatives.

@maceinater 2 года назад

@@HonorableBeniah-A the hell, wrong comment section buddy.

@muhammadibrahim3962 2 года назад

Modern life style of human bieng is deteriorating the ability of humans to produce life and certainly soon it will completely end life generating capabilities of human bieng.

@MeadowlakeSt 2 года назад

„If they’re in their thirties, they may not feel comfortable having kids because they’ll realize that having a child would be too expensive.“ Exactly. Same in Germany.

@LTilli313 2 года назад

Uhh yea, I'm 36 yo woman and do not want to have kids. My mom tells me I will regret it, but I make $40K/year .., can't imagine having a child on $40K/year in the US, it's simply not possible. **Edit -- I should say I want kids, but I just "can't" have them due to financial reasons. If I made more, I would adopt or foster 😊**

@malicant123 2 года назад

@@LTilli313 I'm in the same position, more or less (I'm 35). I think a lot of the older generations simply don't get many of our generation do not want children because it either isn't an option at all or because having a child would mean that the child would grow up poor. I would want the best life for my children, and I cannot provide it.

@aeskewprop 2 года назад

Except in Germany you have TONS of social services, including medical treatment. Here, you have nothing. I got pregnant without "maternity" insurance- I had standard health insurance,which costs me thousands a year, but no pregnancy coverage- and I paid $20k for my baby, out of pocket.

@NoctLightCloud 2 года назад

in den 90er Jahren mussten meine Eltern noch Kredite aufnehmen, um sich einen großen Wohnzimmerschrank & TV-Kommode leisten zu können. Heutzutage können sich Leute in ihren 20ern solche Dinge ohne jeweiligen Zusatzaufwand oder -belastung ihres Geldbörsels leisten. Ich bin zwar auch eine Person in den 20ern, aber ich habe nicht viel zum Beschweren, da ich mir heute (subjektiv gesehen) mehr leisten kann als meine Eltern in meinem Alter. Dass ich einen Kredit auf 30 Jahre aufnehmen muss, um eine Immobilie zu kaufen, liegt nur daran, dass ich Single bin (ein potenzieller Partner/eine Ehe könnte das Einkommen mehr als verdoppeln) - und vielleicht auch, dass ich mir mindestens 2x/Jahr einen Urlaub leisten möchte.

@NoctLightCloud 2 года назад

@@aeskewprop Yes but in Germany, the taxes (especially on companies) are also high. The USA is a land of free when it comes to corporations compared to Western Europe where they take away often times even 50% of your profits by enforcing high taxes. If the US were to introduce MUCH higher corp.taxes, yes maybe you'll have companies fleeing the country, but you'll also have more to provide. You can't pool resources out of an empty container

@sommersalt88 Год назад

The broad-based Standard & U.S. consumer confidence has sunk to record lows, thanks mainly to inflation. Retail spending, home-building, and manufacturing output all declined and those who drive the U.S. economy, are starting to cut back on discretionary purchases, such as appliances and services. Regardless of our market conditions, however, we should continue to promote savings and smart investments.

@MIchaelGuzman737 Год назад

There is a very critical situation for people in the United States and other countries. The world economy is going in a very bad situation. Inflation and unemployment are on the rise۔

@MIchaelGuzman737 Год назад

There are several reasons why I invested under the guidance of an investment advisor, i.e. someone who establishes an asset allocation that matches my risk tolerance and capacity, my investment horizon, my current and future objectives. "LISA ELLEN SHAW" provided all of this and I don't want to go ROI on a public space.

@greekbarrios Год назад

@@MIchaelGuzman737 There is this podcast i was listening to and it said something venturing within your tolerance and risk capacity, see you mention it again got to me. How can one reach this advisor of yours?

@MIchaelGuzman737 Год назад

@@greekbarrios Just look her name up on your browser, it shouldn't be a hassle finding her webpage since she is quite known.

@jarodarmstrong509 Год назад

Saving is a terrible idea aside from keeping an emergency fund or a planned purchase that fits into your overall financial picture. Any money beyond that needs to be invested in assets beating inflation or you're moving backwards despite the self sacrifice

@thekidd5585 2 года назад

It’s happening here in Canada too. It’s frustrating. You get a “professional” job and still struggle. Not sure what’s going to happen if this keeps going on.

@AnnaFelkaTattoo Год назад

Canada is worse in some ways. In BC and Ontario it’s not possible to buy a home. My sister moved to PEI to be able to afford a house but the wages there are super low and now tons of people are moving there from other provinces so things are going up and less developed provinces can’t support all the people coming in

@mathewvanostin7118 Год назад

In north america, you are suposed to leave the popular big cities. In some cases the popular states-provinces. Once youre ready for the owning your own house life For example, if you lived in Toronto city. leaving the city to live in a small town 30 km north from Windsor can be a winning action. Cause houses/appartement are cheaper If you live in Los Angeles-new york. Maybe moving to a small town in Texas. Might be winning action You can also move to a less popular big city. Going from Vancouver to Calgary or Winnipeg Saskatoon will make you save money Going from San Francisco to Portland will make you save money etc

@sixstanger00 Год назад

@@mathewvanostin7118 The jobs in that small Texan town won't pay the same as the jobs in L.A. though. It's easy to think, "I'd have plenty of money living in a rural town in Texas making $300k." Well sure, but no rural town in Texas is going to pay $300k. The average "high" income in cities like Jackson, MS or Birmingham, AL is around $250k, and those places are anything but rural. I live in a small rural town in Alabama, and a lawyer with his own law firm might earn around $150k a year. Most folks here are lucky to earn $30k.

@lychenus Год назад

@@mathewvanostin7118 wtf is even 30km north from windsor? still 400k condo for 1br? and wheres the job to support that??

@rolandmerovee8741 Год назад

Civil War everywhere ( I am frénch) . Thé great reset for politicians😁😁

@KA-md6je 2 года назад

My grandfather was a mail carrier for the USPS and grandmother was a homemaker. With that one salary they bought a house, raised four children, and sent all four children to catholic school. They didn't have money for any extras, but they had enough for food, healthcare, clothing, etc. and didn't receive food stamps or any government assistance. That would be impossible to do today.

@krayziejerry 2 года назад

with one salary, one can be expect no money for children, wife, and bordering being homeless.

@randomlygeneratedname7171 2 года назад

The rest of the purchasing power is going to the central bank slowly overtime. Politicians are not allowed to lift that paper currency of their own nation and start talking about it. It's supposed to be an independent institution so they "run the economy the best way" with trillions in debt apparently.

@sriku1000 2 года назад

"A great watch - What are you? Collective Realism ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-S5f5zKsN1DE.html

@kaylaleave 2 года назад

Usps pays minimum wage

@irongoose3865 2 года назад

Two things to blame, democRATs and the federal reserve monetary system. Eliminate both and the country can get back on track.

@Dainja 2 года назад

My daughter is 25 and still lives at home with my wife and I. She works full time and saves most of it. I told her to keep saving until she has enough to buy her own house to live in or rent out, or save enough until she has enough money to start her own business. She only has to pay the electric bill, so she's stacking up lovely. That's one way to make it. Family should help family if they're trying to make it.

@Tangarisu 2 года назад

@ShaneCM 2 года назад

You are great parents, a true blessing providing such a great support system. I hope she continues and reaches her goals.

@Striker50_ 2 года назад

She's going to be saving for a longgg time

@Dainja 2 года назад

@@Striker50_ , patience and persistence is a virtue my friend. 😃

@JoJo-ie8sl 2 года назад

Did she go to college or university? If yes, how did she pay for it?

@Mr-sweeny 4 месяца назад

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??

@Dannyholt33 4 месяца назад

Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.

@PatrickLloyd- 4 месяца назад

Certainly, I've been consulting with a Certified Financial Planner (CFP) since the outbreak. Beginning with an initial fund of $80k, my advisor makes decisions on when to enter and exit positions in my portfolio, which has now expanded to around $350k.

@PhilipDunk 4 месяца назад

who is your advisor please, if you don't mind me asking?

@PatrickLloyd- 4 месяца назад

Her name is Amber Dawn Brummit can't divulge much. Most likely, the internet should have her basic info, you can research if you like

@PhilipDunk 4 месяца назад

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

@harveyhilgendorf7495 2 года назад

Five to six decades ago, my dad, with an 8th grade education, bought a house, two cars and three harleys, while in his 20's. My mother was a stay at home mom. Different world today. Need a massive amount of income to afford a similar quality of life as what it was in the 60's and 70's.

@jsebby2284 2 года назад

Quality of life now is significantly better than it was 6 decades ago

@krzzzy19 Год назад

Bunch of illegals and immigrants making low income skewing statistics

@abdirahmanidris290 Год назад

@@jsebby2284 how do you measure quality of life. Owning homes is a massive part of that and that is decreasing.

@jsebby2284 Год назад

@Abdirahman Warsame and home ownership rate is higher now than it was 6 decades ago I feel like it's pretty obvious what quality of life is. Rich people didn't even have a computer 6 decades ago - now poor people have one in their pockets. 6 decades ago black people didn't even have equal rights. Healthcare is better, education is better, were richer, etc

@abdirahmanidris290 Год назад

@@jsebby2284 agreed but it is still worrying how difficult it is to own a house not to mention the ridiculous property taxes you have to pay.

@MoistSocks 2 года назад

And people wonder why younger people aren't having kids.

@rutherford5619 2 года назад

Teenage pregnancy is at all times high world wide. I'm not sure about the us

@yellowRose806 2 года назад

@@rutherford5619 it's too common. I was in high school 10+ years ago and it was scary seeing how many girls were getting pregnant.

@jen139222 2 года назад

People are having kids to get more food stamps n everything else that comes with a new kid.

@jlr194 2 года назад

Exactly, you can barely feed yourself, why bring an innocent child into this world just to have him suffer, you have to be financially stable to have a family these days.

@I_like_turtles_67 2 года назад

You can also blame feminism for that.

@mikhailcunin6229 2 года назад

"The wealthy, have all the money and pay little to no taxes, the working class pay all taxes, and poor families are there to remind the working class what would happen if they quit that job they hate so much." -George Carlin

@joea400 2 года назад

Don't blame the wealthy for paying little to no taxes. They pay what they are legally required too.. Just like you... Blame congress that keeps the tax laws the way they are...

@lynth 2 года назад

Because that's how capitalism works. Exploiting the general population to make the rich richer. In imperialist societies, that exploitation is exported and it's foreign population that get oppressed, enslaved and murdered. Once the foreign populations liberate themselves and become independent (e.g. China), capitalists need someone else to exploit... if no other foreign victims can be found, they will start exploiting their own people. Capitalism always fails. Capitalism is always unsustainable. Capitalism is inherently harmful to human society.

@catherinelw9365 2 года назад

Try reading a real economics book instead of educating yourself with comedians. Good God.

@jasonkauppinen3475 2 года назад

"The wealthy, have all the money and pay little to no taxes" George was wrong on that one.

@taragnor 2 года назад

@@jasonkauppinen3475 No he wasn't lol. Look at the wealth distribution in the US. The elites own a vast percentage of the total wealth, and pay virtually nothing in taxes. Hell if you look at corporations like Amazon, they do pay nothing in taxes.

@georgeesther-zq7js 4 месяца назад

Working under some one is like imprisoning yourself they get all the money and you get little pay, may God help us.

@parkerrosemary-it4kr 4 месяца назад

Yeah that's right, how many millionaire you see working for salary of $5,000, my advise to to get second source of income.

@patrickalex-rt3lq 4 месяца назад

@@parkerrosemary-it4krYou're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.

@trumpkane-fe9ig 4 месяца назад

I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

@kevinfaith-oy5gh 4 месяца назад

Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

@scottjohno.7335 4 месяца назад

Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton@@kevinfaith-oy5gh

@yahyoubetchaa Год назад

It's insane how a family who makes $100,000 a year is stuck renting and can't buy a property of their own (in the area they live in at least). This is not normal and needs to change

@sidology1.0 Год назад

Airbnb has been effecting that issue as well

@domcizek Год назад

NOT ENOUGH HOUSING BUING BUILT, ALSO ZONING LAWS MUST GO, THE NIMBY IDEA MUST GO

@LassieFarm Год назад

It will. Big crash coming

@domcizek Год назад

@@LassieFarm WITH HIGHER INTEREST RATES COMING ON, HOUSING WILL BE GOING DOWN, TO MAYBE AFFORDABLE LEVELS,,

@domcizek Год назад

HOW DO YOU EXPECT TO CHANGE THIS, THE ONLY WAY IS TO SPREAD OUT ALL THE FACTORIES TO OTHER LESS POPULATED STATES, AND MOVE PEOPLE THERE TO AFFORDABLE HOUSING,

@brianal7143 2 года назад

Chantal’s story is so relatable. Taxes and insurance eats a HUGE portion of your paycheck, and you still find yourself out of pocket for healthcare costs. It’s insane

@randiaz95 2 года назад

Its way more taxes than 500 if you make six figures… more like 4k a month in taxes

@pisces031372aj 2 года назад

@@randiaz95 I make six figures and my total payroll taxes are not that high. Not even close. I guess it depends on what you mean by six figures. 100,000... no...500,000... maybe. You don't need to exaggerate to make a valid point.

@ioanpena 2 года назад

Move very very close to Mexico border , stop paying medical insurance and go across the border for any medical related issues...

@divinefeminineoracle5825 2 года назад

That graph though.. the only classes growing are the rich, and the poor.

@cody5596 2 года назад

It also depends on where you live too. I do think he exaggerated a little but some states have a giant state income tax percentage.

@JRPGGUY 2 года назад

Productivity is up but wages are stagnant for everyone but the higher ups. House prices are thru the roof and real estate is being gobbled up by mega corporations. I can't imagine why the middle class is disappearing.

@Panda_J1 2 года назад

not to mention politicians keep raising taxes in order to fund whatever nonsense they want to pass

@Yandel21ableify 2 года назад

But we have the richest people in the world

@hom2fu 2 года назад

@Craig Namerow raising prices are hidden tax. let's go brandon

@oriplaydirty 2 года назад

But America is still the best country ever am I right🤡

@MX-CO 2 года назад

I Hope they all lose their ass on the rel estate, Can't wait for that big bubble to pop

@elena-dh2im 2 года назад

I’m an Italian and I lived in several cities here in Italy and I was astonished by the number of Americans I have met in my country! Italy is well known for being ABSOLUTELY NOT IN A good economic/financial/ jobs situation. So it amazed me to see so many Americans moving here (forever!) cause I always thought “why would you leave an amazing country like the USA?”. I always asked this question and the answer was pretty much the same: they said the situation is out of control and that in Italy life might not be easier but at least it is way enjoyable and that the American dream is utopia. I have always dreamt about moving to the USA for better opportunities but when I said that basically all the American friends here in Italy told me to look somewhere else… 😔😔 it’s sad

@Thunderwell Год назад

Haha.... When the "American Dream" becomes "Living in another country because America is getting bad." Its funny and sad.

@glen4326 Год назад

I would still say it is good here in the US. People come here and are still making it. They find a way. We have very low unemployment rate. If you have a talent you will do fine. And inflation is high everywhere at the moment. I wish you the best.

@longhai6458 Год назад

@@glen4326 low unemployment rate? Not everyone have talent you know . Only us and eu where inflation is high

@kwanman5146 Год назад

@@longhai6458 This goes beyond recent inflation hikes. Everybody in the middle classes are being ripped off. Across the world. Only Corporations are making serious money. This is structural and has been happening since the 1980s. Unions dismantled and workers rights eroded. Hell at least we have healthcare in Europe still. In america it can't be right you could be bankrupt if you get ill.

@eddyeroyal6024 10 месяцев назад

I will say it depends on what you do, and don’t live above your means.

@DennisJack-km8ho 9 дней назад

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

@teresita2- 9 дней назад

I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.

@Sampson-jh7yq 9 дней назад

Biden is not entirely responsible for whatever is going. The economy is cyclical, and things will definitely get better. The first rule of investing is to keep investing, whatever the economy is doing. That is how you make substantial gains.

@alicegomez7232 9 дней назад

That's some incredible gains. How do you find a financial advisor? I've been trying to connect with one for some time now, an I don't want to work with hedge funds.

@Sampson-jh7yq 9 дней назад

There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.

@RuthEvelyn-rc3bg 9 дней назад

Thank you for this. I'll send her an email, and I hope I'm able to make something out of it.

@alanhill2508 2 года назад

I'm 67. I remember when it was possible, if you lived at home with parents who didn't charge you rent, and you worked a part time job (full time in summer), you could easily pay for college at a state university. I did. This is unimaginable today.

@jameshersom2536 2 года назад

My summer job barely covers 1/3rd of my college anymore. I’m not even enjoying it anymore.

@jameshersom2536 2 года назад

My summer job barely covers 1/3rd of my college anymore. I’m not even enjoying it anymore.

@ngndnd 2 года назад

@@jameshersom2536 go to a school that pays for half ur tuition. Home depot, lowes, target (depending on ur school)

@manicpepsicola3431 2 года назад

@@ngndnd that's if they give you the hours to be an employee that is eligible for benefits

@dojocho1894 2 года назад

My Uncle was a Vascular surgeon in NJ He said he bartended at night to help pay for med school.

@bridgettem9 2 года назад

Another thing that bothers me when people talk about the middle class is, no one seems to care about the singular middle class person. It's just about families. It's almost as though the people who've decided not to have a family don't matter, as though we don't struggle too. When things are put in place... tax breaks and such... it only seems to benefit families.

@dianewebb1855 2 года назад

Especially when it comes to affordable housing as a single person.

@jerryrichardson2799 2 года назад

Correct and voted up.

@jerryrichardson2799 2 года назад

@@dianewebb1855 Totally agree with you, thank you.

@TraMychael 2 года назад

Agree!

@KRYMauL 2 года назад

The American dream is house with two or three kids and a couple cars out front. Clearly by this definition single people don't count. A single person.

@CasiodorusRex Год назад

I am 50. I worked full time and paid my way through college by going part time. Credits were $100. The first house I bought was from an old lady for 28K in the mid 90's. It all changed in 2008. Home prices began to rise then the housing market collapse. Home prices never went back down. Over time a decent automobile went from 20K to 50K. Food prices are now insane and wages have barely risen.

@jessicah3450 Год назад

Exactly, they said the recession was over, but it was never over for average people. What they're calling "middle class" in this video sure sound like they're poor!

@SomethingSomethingg Год назад

I'm 27. I live in Maine, a place where ambition goes to die. I come from a very ordinary, blue-collar family of sticks in the mud. I've never been to college, never had my own place, and haven't had a relationship since high school. Instead, I've been quietly saving and saving to finance my life of being a digital nomad and after several years of hard work I'm finally seeing that dream close to being realized (assuming nothing crazy happens). My advice is follow your heart, avoid the rat race, and don't be afraid to leave America/Canada/Europe/Australia in search of a better, cheaper life elsewhere. Because things are only going to get worse.

@johndoe-fq7ez Год назад

I feel you man. Big time

@Ominiumshadow24 Год назад

Everyone needs to stop saying. Everything is going to get worse. You all act like its the end of the world. But there's better places outside america

@jessicah3450 Год назад

You're lucky you have your health to do that, good luck.

@ToyaF82 2 года назад

I don't understand how the average person is supposed to afford rent with the prices increasing so drastically.

@krayziejerry 2 года назад

It's part of the plan to bankrupt the whole world and have big gov come in and save everyone.

@thephilosopher5799 2 года назад

@@krayziejerry yeah I know. Its crazy what happening as the days and world go by

@pinkforeverlove1 2 года назад

I make 51,000 and I am struggling. Considering a second job. I have no kids and it’s crazy.

@nyalan8385 2 года назад

"Just get a house then" - prime minister of australia

@krayziejerry 2 года назад

@@pinkforeverlove1 I remember talking to somebody from the 1960's. He said that minimum wage was about $1.60/hr and 1 gallon of gasoline was $0.25. This means that you can buy around 5-6 times the amount of gasoline with minimum wage during that time. Fast forward to present time for example, gas is about $5.50 - $6.00 per gallon and minimum wage is $14 in California. This means that we can only now buy a little over 2 times the amount of gas, compared to 50 years ago with 6 times the amount, to summarize, our purchasing power in 2022 is 3 times lower than it was in the 60's and minimum wage, if kept up would be at around $33 dollars per hour. Also keep in mind that men use to raise their families on minimum wage half a century ago just fine with no wife working. Nowadays it's borderline homelessness.

@Menky90 2 года назад

31 no kids, college degree, no healthcare, never married, never owned a home, renter for life, never made more than $35,000 in a tax year.

@kwamestanciel2513 2 года назад

Ouch

@aufache 2 года назад

Same - except im still looking for a reliable job.. and Im a few, but not many, years younger 😔

@katakouzina 2 года назад

at least you make 30k not 10k

@Gchang54 2 года назад

But did you die?

@gl3936 2 года назад

@@Gchang54 well he has no healthcare so might as well

@BeanieNinjay0 2 года назад

Cliff Notes: Middle class is shrinking because the gov’t has been literally sucking the life out of it for the past several decades.

@denverspin Год назад

No. That’s what they want you to believe. It’s the people that control the government, who is sucking it dry. Who is that? The oligarchs. The super super ridiculously wealthy. That’s who.

@denverspin Год назад

Transfer of wealth via lobbyists and the government.

@denverspin Год назад

It’s a big club, and we aren’t invited.

@user-dx1jb4zq9e 7 месяцев назад

There is no "the government" that exists apart from wealthy and corporate donors that throw money at it so that it does what they want. So the problem isn't the government. It's the people who have captured it and turned it into an arm of private financial interest.

@windsofmarchjourneyperrytr2823 6 месяцев назад

Brilliant to charge self employed 15% tax, then wonder why all the retail vacancies, too

@AnnaFelkaTattoo Год назад

I live in Ontario Canada and the housing and cost of living here is disgusting. I’m trying so hard, I own my own business, and I still have trouble making ends meet. I don’t want to be rich I just want so bad to have a family and a home. If I could have a child and a stable place to live I would be over the moon and it breaks my heart that for so many people that’s just impossible

@ethanking4995 Год назад

I hope you can make it happen! I want the same thing but good people are hard to find these days

@andrewmorton395 Год назад

Its same here in the UK

@ethanking4995 Год назад

@@andrewmorton395 yeah I have been comparing the home prices in NC where I live and most of the houses are around 60k-100k more than they were 5 years ago. I bought spaghetti ingredients, ice cream, and a few other items and cost me $74. Im great but stuck here in the lower end of the middle class. Gonna have to start calling it upper lower class.

@deeas6518 2 года назад

In 1965, my parents bought their 3bdrm, 2bathroom home in southern California for under $20 000, on an aircraft mechanic's salary. When they passed away in 2017, that same house went on the market for over $475 000. Their working grandchildren could never afford to buy that house. The middle class is dead.

@mocheen4837 2 года назад

My parents purchased their house in the 1970’s for $50,000. Today their house is worth over $2 million. The housing in San Francisco is out of control.

@angelgjr1999 2 года назад

My parents bought their home in 2016 for 150k. Now it’s “worth” 320k. The dollar is worthless.

@empirestate8791 2 года назад

That's because not enough new homes have been built!

@unkelfaka6216 2 года назад

@@empirestate8791 Land and building costs are extremely expensive.

@StochasticUniverse 2 года назад

@@angelgjr1999 Not accurate at all. The dollar is actually higher, right now, against a basket of other currencies than it has been in years. Pandemic notwithstanding, now would be an economically ideal time to take European or Japanese vacation. It's been years since the last time the dollar went this far in overseas markets.

@crystallowry5098 2 года назад

I had a conversation with my parents and grandparents last christmas. It was shocking talking to them about the generational changes about the middle class and how much easier it was to provide for your family. The American dream is slowly dying year by year.

@id10t98 2 года назад

Keep voting RepubliQanon because multi-billion dollar corporations, millionaires and billionaires need more tax cuts, they promise the next one will really work!

@Mikejones-vy9dx 2 года назад

Because of racists .. they feel the others don't deserve a good life

@GrandChessboard 2 года назад

@uno Mostly it is happening to Americans thanks to trickle-down economics...

@albertoalves1063 2 года назад

It's happining all around the world. I'm from Brazil and even though Brazil never had a economy like the US, life was easyer, my grandfather was a bus driver, had 4 kids and was able to aford a big house while he was working and when he retired he bought a small farm a tiny house in the near city and 2 cars, my parents and their siblings was unable to buy a house while working, had a time when things were cheap and affordble, now a popular car is getting around 100k and it's not a popular car for american standards, it's really not worth it. I know Brazil is not comparable, but we are facing similar things, but we are going wildly faster, what took for America 50 years, we did in 15~20 years.

@joelc9439 2 года назад

Obviously a lot of things were cheaper back then and people were happy with the simple life.

@Robertgriffinne Год назад

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.

@Natalieneptune469 Год назад

As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe

@PhilipMurray251 Год назад

@@Natalieneptune469 I agree with you. I ventured into stock with less than $100,000, and now I'm about 17,000 short of half a million dollars. Credits to Nicole Ann Sabin . She's verifiable.

@Robertgriffinne Год назад

@@PhilipMurray251 Thank you! i just looked her up and sent a message hoping she gets back to me.

@wiebeplatt4749 Год назад

@@PhilipMurray251 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS

@junyaiwase Год назад

these bot comments are ridiculous bruh

@pioneer7777777 Год назад

I think another thing contributing that could easily be stopped is corporations buying single family homes and renting them back to people, this pushing up housing prices. This should be made illegal as it just exacerbates wealth inequality and makes life more expensive for everyone for the benefit of the super rich.

@MisterVercetti 2 года назад

"The reason it's called 'The American Dream' is because you have to be asleep to believe it." - George Carlin

@Golems_wrath 2 года назад

Ironically he'd wasn't on your side dumb Republicans and was in support of a living wage and making sure companies won't raise prices. Burn

@pablo8524 Год назад

Deep…

@TheAnonymous916 2 года назад

There’s a saying, “I would rather be rich, or poor, but never middle-class. The rich can afford health care and anything they want without worry. The poor qualifies for free health care and government assistance. Whereas, the middle-class have to budget for health care and other expenses; yet, not poor enough to qualify for government assistance.” Why are we middle-class citizens not doing anything about it? I’m surprised we aren’t out with torches and pitchforks to elect politicians not in deep pockets with the ultra rich. Unfortunately, the rich are smart; making us all too divided (R vs D) to work together against the real threat against the shrinking middle-class.

@dswan1418 2 года назад

The rhetoric is strong. People are convinced that a candidate's proposal to "raise taxes" means "raise them for the average citizen". What they don't understand is that no one wants to do that, they just want rich people to pay *their fair share*. If you break it down for people so they realize that upper income earners pay a *smaller* percentage of income tax than a middle income earner, to give just one example, who wouldn't be upset?

@barbarap6754 2 года назад

@@dswan1418 in many cases that just isn't true unless you compare capital gains taxes to income taxes. But hey, keep following Bernie Sanders.

@MikeyPaper 2 года назад

Such an underrated comment. This is the real issue.

@henryford2950 2 года назад

The reason why the "middle class" is screwed is that the owner-class of this country wants to eliminate competition, so they make sure to squeeze middle-income earners with more taxes and take all the share for themselves (bailouts, corporate subsidies, etc.) At some point, the ruling class realized it was more profitable to do so (because there was so much wealth the lower classes accumulated after WWII), and here we are.

@seanoneil8137 2 года назад

Well, some of us did support a set of candidates that would have done some big things towards making it possible, but we were called left-wing extremists or socialists.

@DrTLEvans Год назад

I’m so happy I didn’t sell my home and upgraded years ago. My $700/ month mortgage is less than most of my friends’ rent. I’m going to remodel and stay put out here on the prairie in my little house. Had I still been raising kids, I don’t think we’d make. This solidified me living far beneath my means and a minimalist lifestyle. So thankful I do not have to commute 500 miles a week. The gas cost would crush my budget. My heart goes out to those who aren’t as fortunate. I gave away so much of my couponing stockpile during COVID. We have to go back to community outreach and help our neighbors. You are seeing ppl being forced to move out with only a moment’s notice. I have never seen so much population growth where I live. The city can’t keep up with the infrastructure needs. We had more four way stop signs than traffic lights. Now, roads are being widen due to traffic from ppl moving out here. Greed is fueling this foolishness.

@sassysls1851 Год назад

I would love a part 2 to this with what we need to be doing to change this problem? I’ve heard the same concern about the rich getting richer and the CEO and shareholders (etc.) hoarding the bulk of the profits and not passing them along to workers since I entered the work force 25 years ago. It’s just getting worse and worse. As a single person who has worked in the non-profit sector my entire career and still has a loan from my MA to pay off, there’s not much I can put toward retirement. It’s getting pretty scary to think about.

@user-dx1jb4zq9e 7 месяцев назад

You're not going to get the part 2 because it means recognizing that there is no political solution to it. The solution involves removing money from politics, which probably means civil war and a good chunk of your ruling class going to prison.

@TheGanjapriest 2 года назад

the middle class isn't disappearing,its been gone for a solid 10 years. Now we are split in two,those who can make rent and utilities on a full time job,and those who can't.

@msi8311 2 года назад

There’s still a slight middle class. This isn’t india.

@michaelmoise2660 2 года назад

Yep and it's for sure gone now, most of Americans that do own a home could not afford to buy it at today's prices.

@AnandA2155 2 года назад

@@msi8311 I think there is a sizeable population of middle class people in India. A lot of people were pushed into poverty during the pandemic but that is expected to revert when the economy spins into action yet again.

@sasstewart1222 2 года назад

That is not true.

@germancr3118 2 года назад

There's no middle class, there were a middle class never, it just a way to divide the working class, who are the people that sell their time to the owner class and it doesn't matter if you earn 10k/year or 200+k/year, the only classes that exist are working class and owner class

@brianlinke1856 2 года назад

I had a social worker tell me once, "Poverty tends to move from one generation to another. It's bad enough to be poor and stay poor. But it's worse to become poor. This is the trend which radically changes society (2008?)".

@charliejennifer3874 2 года назад

I agree but think young people don’t have realistic expectations. And some have been spoiled and don’t realize that life takes effort so when they become independent young adults claim poverty but they are earning $60k. Stop drinking Starbucks, don’t get a new phone, live with someone to share bills, and drive an older car.

@hurrdurrmurrgurr 2 года назад

@@charliejennifer3874 Also don't get a degree or you'll be in debt the rest of your life but also get a degree or you can't get a job to pay your bills but you can still get a trade job which will be worth it until you get injured and are back to debt slavery. And that flat you're sharing with others is either going to be far from work causing your travel and maintenance expenses to rise or it's close but stupid expensive so if one room mate leaves and no one else quickly moves in you'll find yourself homeless. People have already stopped buying luxuries, it's why every month we hear about another industry millenials are killing yet the costs of living continue to rise so what should people do when they're already living tight and their rent went up again? Even if your avocado toast nonsense worked the death of consumerist industries puts more people into unemployment meaning more competition for remaining jobs, higher taxes to pay for them and less incentive for employers to raise wages. Factor in the aging population and automation replacing jobs and your victim blaming becomes more of a joke.

@blucantrell2 2 года назад

@@hurrdurrmurrgurr bravo. glad someone had the energy to refute the same old self righteous nonsense

@tim3440 2 года назад

Well dont live above your means if you dont want to be poor... If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time. You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..

@jarehelt 2 года назад

Blame the federal reserve system.. Banks lend out money they don't have and then charge interest on it. It is nothing less than legalized fraud and modern serfdom. This goes back to 1913 not 2008

@reneecarr0222 Год назад

I don't have $100 to cover any cost. It's sad. This country is sad.

@micahrutland991 Год назад

I am not afraid to die, because I know I will go on to a place where money and greed doesn't exist, and everyone can be equal. Money is all that matters here, and wealth is the one thing you can't take with you when you die. I've never been impressed by materialistic people. Only disgusted. The only thing that will matter on the other side is what you have in your heart, how you treated others, and the deeds you did. Love is the true wealth. And evil people will get what they deserve in the end.

@jk3592 2 года назад

The middle class isn't shrinking, they just can't afford the things they use to anymore... WELL THEN THEY'RE NOT MIDDLE CLASS ANYMORE ARE THEY!?!? ffs

@keirfarnum6811 2 года назад

Yup.

@okamijubei 2 года назад

Being middle class is not about affording things, it's about having a stable financial life. Like too rich to be poor and also too poor to be rich.... and look like those times are being wiped out again. Will it ever return...? The answer is I don't truly know... it's not just up to politics... it's also up to the resource values and to us to make things economically stable again...

@matthewgunning9055 2 года назад

@@okamijubei dude, that's literally politics

@Fakeslimshady 2 года назад

Listen to CNBC tell you why you are disappearing. That will work.

@okamijubei 2 года назад

@@matthewgunning9055Gunning I'm speaking of economics. Why make almost everything political? Not everything has to be political. And why want things to be rich or poor? That's what the communists do.

@icouldntthinkofagoodname7216 2 года назад

When everything rises in price, but the income doesn't, it makes living alone challenging. Even more when you plan to have a family which multiplies the cost of living no lower than 10x the amount.

@perapelman7687 2 года назад

I could not agree with you more.What sort of hope is it left for us all??

@sebaschan-uwu 2 года назад

@@perapelman7687 stocks I guess

@icouldntthinkofagoodname7216 2 года назад

@@perapelman7687 my plan right now is to buy a used van, convert it to electric with solar panels on the roof to have it act as my "Home" for even saving up for a home is so costly. Learning to play in stocks to be a stable income and save enough to last me til my retirement Traveling my country with my van. Plan for having a family is way off my list unless I get lucky enough winning a lottery so I can buy a fast food chain franchise. Other than that, I'll continue living alone doing whatever I want and saving up at the side.

@ronmartin1375 2 года назад

Surprising the CNBC even recognizes the existence of the middle class.

@viper2148 2 года назад

Biden did that.

@ThriveAfterAbuse 2 года назад

$1200/month for car payments and insurance?! 😳

@mathisnotforthefaintofheart 2 года назад

Well yeah, you need a Cadillac to get to work, right????

@fredfolson5355 Год назад

You cannot put any "loyalty" into a company. The only way to get a decent raise is to move to another company and negotiate the amount you want. It's not personal - it's business. You cannot be afraid to leave a company to get what you want, what you need to live "your" happy life. The days of working a career at one company are gone.

@SilentSalad 2 года назад

I hate the term squeezed, That's not what's happening. People are being systematically impoverished by ever increasing prices, corporate capitalism, and a government that is "By the rich, for the rich" . If we're being squeezed it's in the way that a lemon gets squeezed; juice extracted until all that's left is an empty shell to be thrown away.

@DavidEVogel 2 года назад

People are being systematically impoverished by ever increasing prices And this is the first time in modern history that inflation has been 7.5%?

@krunalraghavani228 2 года назад

Yeah

@deenanthekemoni5567 2 года назад

Very well put. They are CREATING a populace that's Entirely Impoverished on purpose. This didn't just fall into place, it was very maticulously and heartlessly *Planned* .

@user-wz4db1zn3r 2 года назад

If you cant beat them, become them. That's what I did. I used to blame others for the woes of capitalism, then I simply started my own business and got rich.

@vgxezo7371 2 года назад

@@user-wz4db1zn3r Same, used to be homeless and on the streets, but then I just bought a house. It's really not that hard people are just lazy and blaming others for their shortcomings.

@mollycblaeser 2 года назад

I've been living paycheck to paycheck all my adult life. My parents will never understand why. And it can be very frustrating to not have them understand. My partner's parents are rich, in my eyes, and it's like an entirely new world. They don't blink: paying for a new backyard fence one week, then a new sunroom the next. My family of 8 would have to budget for years for each home project.

@redman0728 2 года назад

Yeah I live paycheck to paycheck too still living with my parents. Depressed most the time just cuz I think I'll never be able to move out on my own think I'm eventually gonna be homeless. Didn't work for like 6 years cuz im bipolar and didn't think I could do anything for awhile. But been working for over 3 years now part time as maintenance pushing carts.

@AZ-rg3rf 2 года назад

@@redman0728 well, atleast your going places

@dojocho1894 2 года назад

I am a Physician I had a Uncle who was a Surgeon. He said Dr's dont make as much money today as they used to. I look at the Dr. parking lot in the Hospital parking lot and its filled with Subaru's and SUV's. Back in the old days I remember seeing Jaguars Porsche and Mercedes.

@21silvermoon 2 года назад

@@redman0728 l have Bipolar Disorder too. I work part-time but l have a roommate and other streams of income. Check Social Security for disability benefits. I receive it. I hope you keep going and hope you get better soon.

@SomethingSomethingg Год назад

Molly, were your parents financially comfortable growing up? Because I always hear about these boomers or Gen xers or whatever who can't empathize with young people because they have achieved the American Dream. I seldom hear about people of that generation like my parents who have always lived paycheck to paycheck and often ask me for money. As a result, though, they empathize because they're reeling from the effects of it as well.

@hyojinlee Год назад

Thank you so much for this video!!

@mariekatherine5238 7 месяцев назад

Former middle class, here. Now live pay check to pay check, no job security, can’t afford benefits like medical insurance, but don’t qualify for any assistance. Don’t have a pension or retirement fund. Don’t own a home and never will. Don’t go on vacation. Can become homeless quite easily. This is not how I grew up.

@comfytimes8049 2 года назад

I think the big problem here is that the prices of everything keep rising but income doesn’t, and there’s hardly anything ordinary people can do to stop it so how should it not be scary?

@CVal012 Год назад

The main problem is price rising. Why allow prices to go haywire like this. It s a man made problem.

@quietwind6931 Год назад

They want to nuke everything to build back better

@familyfriendlyvideos2241 Год назад

It's all of the governments plan,i worked for the COVID 19 vaccine and they have plans to lower the amounts of consumers since farms are having problems producing products for the masses of people

@admirationlakes8994 Год назад

KidRock put a song out about this just like 3 months ago. I've been so blind just always working my @ss off like a mindless zombie.

@-Swamp_Donkey- 8 месяцев назад

@@CVal012* Jewish * made problem

@KijasFX 2 года назад

9:00 this is HUGE. That’s how I feel. Being middle class is great but then you get Zero benefits because the government says “you are ok, you don’t need any help” but it’s no longer the case.

@garyoakham9723 2 года назад

Biden don’t care about working people. He’s spending more to help Ukraine than homeless people in the us

@bengrimm622 2 года назад

@@garyoakham9723 technically that is just handing money to the rich....but ya...war....guns

@armenmed122 2 года назад

I agree

@jenniferwilliams5478 Год назад

I grew up as the working poor

@Elena-er7zp 2 года назад

I bought my home in June 2009, during the housing crisis and when the government was offering stimulus for homebuyers. I had no desire to be a homeowner, but my father (rip) made it his mission to make sure both of his children had a mortgage by the end of 2009. He and my mother gifted each of us $5k for the FHA loan down payment. We got $3k from Uncle Sam just for buying a house (i bought a fridge, washer and dryer with the money). Sometimes I didn’t like my dad for rushing us into home ownership. I wasn’t ready. A house is a lot of responsibility and most times the budget was tight - especially in those first 5 years. Large home repairs were a crisis, but I’ve made it through. I see now why my father saw it was a great time to buy and how important owning a home is as opposed to renting. My home’s value has doubled in those 13 years and my PITI is still $1200. That’s what I am required to pay, but I pay more and should have this mortgage paid off in 4 years. 13 years earlier than scheduled.

@bradleygraves5915 4 месяца назад

$800 in car payments a month is killing that family. $280 for phones is right behind that. They make enough and are middle class - they are spending more than they need to and not saving enough.

@kelseyleigh3749 2 года назад

Chantal said it perfectly - even if you have a great job making good money, its not enough. I haven't been able to save in years just because of keeping up with monthly expenses. Our parents don't fully understand our dilemma, but we now have expenses that didn't exist 40 years ago: cell phone cost + bills, internet bill, computers and electronic devices. 33 years ago, my mom bought a house as a single mother with two kids on a $21,000 salary. I make 3x that without debt and I'm struggling to get a mortgage.

@monsieurLDN 2 года назад

Is everything you spend money on a necessity?

@swiftiepharbz 2 года назад

@Pork n jeans ever considered that there are people working remotely / online? especially since covid, we've all become more dependent on electronic devices. same for students too since they've been attending online classes.

@vdimension6300 2 года назад

@@swiftiepharbz in that case being able to work remotely and the savings that come from it should more than cover the expenses of the computing equipment required for remote work.

@taylorshin 2 года назад

@Pork n jeans O boy.. we just met a person awoken from a cryo-sleep!! Even your boss will kick you out once he finds out you can't be reached via any messenger or SMS. /facepalm

@swiftiepharbz 2 года назад

@Pork n jeans people literally depend on those devices as they are required for their jobs, which is what they need for their income. if you can live without electronic devices and your job doesn't require it, cool. but plenty depend on it now. not just for entertainment, but as well as searching and applying for work, communicating with their colleagues, etc.

@jennyhammond9261 2 года назад

I've been teaching for 15 years and have my Master's. I bought my house for $55,000 (foreclosure). I count every penny in and out. I'm single. (stay with me, getting to point) I don't have Netflix, Hulu, Amazon Prime, or any other subscription service. I don't get my hair or nails done. I don't go shopping. I sold my car and bought a piece of junk in cash with super cheap insurance because it's a 1999. I canceled my life insurance. I can't keep up!!!!!! If I want to do anything extra, I have to have a roommate and/or a side hustle. I thought about adopting a kid. JUST by adding a kid to my insurance I would be going into the red each month (forget about getting the poor thing food or clothing). I'm very good with my money, but the cost of living keeps LEAPING while my paycheck, at best, is creeping up. The money I have left at the end of each month is always taken away by something (MRI, plumbing issue, etc.).

@user-zc6nj9id8o Год назад

In your foot I would consider relocation to another country. You are native speaker of english so you could teach it. Just think about it. You could try to go to another country for couple of months and then decide if it's worth it

@maxlemusa3520 Год назад

Great you have your own home. Husband material here for free, hardworking, good with finances and we can succeed together, very handy. What do you think

@cherylT321 Год назад

Foster a child, then. The kid would have somewhere decent to live and you would get a small stipend for helping out!

@denverspin Год назад

@@maxlemusa3520 awesome dude

@DestinyC1020 2 года назад

What Chantal said starting at minute 8:15 spoke to me so much! She is on POINT with that comment!

@bradsmith2575 2 года назад

I feel bad for families going through this. I decided to live child free and most of the decision was just no desire to raise a kid but looking at what a huge financial burden it is turned me away from it. It just isn't worth it to have a family anymore. I'd rather retire earlier and be secure financially. Notice how the one mom interviewed cited taxes as her biggest woes, that gets glossed over since this is CNBC....lower payroll taxes will fix this but there's too much social spending. Thank god BBB failed. Now we just need to fix social security, that's the next failed social insurance system that'll raise payroll taxes tremendously in the next decade.

@denverspin Год назад

Maybe…just maybe, stop funding and fueling wars around the world and reinvest that in the people and our country. Maybe…tax the oligarchs, the super ridiculously wealthy people of the country, that literally own the country. Make them accountable for their incomes and tax them. But no because the tax laws are made by these people, it will never change. Insane!

@Cheesecakuu_ 2 года назад

I see a good amount of people saying they are taxed to death and how that's a main problem, but what if the problem was WHERE our taxes went? Many other countries have higher tax rates yet enjoy much better lives than many of us here in the land of dreams. I do recognize that we are essentially allowing other nations to live better lives by keeping them safe* with our ridiculous military spending, but isn't there even a small portion we can take from our military spending to invest in social policies, universal health care, etc. ?

@blucantrell2 2 года назад

your heart is in the right place but your military does not exist to protect other countries. It exists to subjugate them and destroy those that step out of line by threatening the hegemony of the American dollar/oil status quo.

@blucantrell2 2 года назад

@LightSound Geometry focus on the evils of imperialism, rather than the fact that they get well paid and retire with life left to live (if they live through their murderous invasions 😬). No good reason why all Americans couldn't be well paid and afford to retire young. that is the sort of thing Americans should demand from their system. But instead America is the murderous regime that simultaneously treats it's own population like disposable wage slaves. But I think you have a good point, their decent salaries foster a viscious loyalty from a base of the population that otherwise would not be afforded a higher quality lifestyle. It is a welfare program, exploited by the elites, in a society brainwashed against the common good.

@blucantrell2 2 года назад

@LightSound Geometry imagine if the funding was diverted to actually benefit and educate and provide for the citizens of the US. Dr Michael Parenti and Chris Hedges are the best commentators on the reality of American imperialism.

@blucantrell2 2 года назад

@LightSound Geometry they will take the western world down with them. but I have faith the end of the neoliberal nightmare is in sight within our lifetime.

@ksen333 2 года назад

I was with you until the "keeping other countries safe". That level of delusion is clinical.

@dylanbuchanan6511 2 года назад

I think one reason the middle class is disappearing is a combination of inflation and stagnant wages. Not the only one but the fact the minimum wage hasn’t kept up with inflation is definitely something to worry about.

@bentmercer 2 года назад

Trickle down is a ridiculous failure, Reagan was a moron

@garyoakham9723 2 года назад

@@bentmercer Biden been in power for 40 years. He voted for all wars and became a billionaire.

@kevinm.8682 2 года назад

The problem with your theory is that very few people actually work for minimum wage. Most work for way more.

@josepinto5639 2 года назад

@@bentmercer Anyone who calls it "trickle down" is a moron and should not be talking about economics.

@ed5308 2 года назад

Its not that the minimum wage has not kept up. You can not live on a minimum wage. The efficiency of computers has put the number of people you need to manage and produce product down. The workforce needed is less but people still have to find higher jobs that pay more money. Those jobs are being done overseas for less money. Any televisions being manufactured in the USA or how about steel??? Productivity up and salaries down.

@keagaming9837 Год назад

My grandpa was a government employee and my grandma was a lunch lady, they were able to buy a small but still nice house, raise two kids who both went to collage, and have a somewhat nice sum of money saved up for retirement. They now are retired and have multiple house. That kid who became one of my parents now is working with no end in sight, some money issues had existed but for now we seem stable. Both my parents work their butts off just so everyone in my family can survive and live where we do. It is crazy to think that one salary in the 1960's was enough to support a whole family despite being way lower compared to today, while two people with salaries in 2022 is unable to cover every cost, although it is still possible to save some of that money thankfully. Houses are so expensive now, infact inflation as a whole has risen a lot more than salaries have.

@barbararobinson244 7 месяцев назад

In 1983 I paid 1,080.00 per year for tuition at the state college and 255 a month for an efficiency apartment in town including all utilities. In 1989 I bought a small house on a half- acre of land in a wealthy oceanside town two miles from the beach for 75,000. Today it's appraised for 400,000. College and housing costs have gone so far above inflation it's no wonder the middle-class is having a hard time paying for either. I bought a fixer -upper house in 2017 for 123,000. Now it's valued at 335,000. Crazy!

@devonforsure260 2 года назад

Middle class in a nutshell. My parents at 30: bought a 2 family at 230k Me at 30 : makes more than both my parents. I have two roommates Literally making just enough to sustain, but never enough to get ahead is the best way to describe it

@craigrodriguez8384 2 года назад

I feel ya man. But you can achieve. Just may be harder.

@dedhampster4730 2 года назад

I work the same job my mother did. She made $40k with basically and associates degree in the 90s-10s. I make at most $37k with a bachelor's degree. And everything is more expensive.

@devonforsure260 2 года назад

they used their savings for a combined 50k down payment back then and bought the house. It's well into the million region now since they live in Massachusetts. I still reside in the state and six-figures doesn't go as far as it used to. You feel safe and stuck at the same time.

@devonforsure260 2 года назад

@@dedhampster4730 yep my mom went to community college in the late 90s after buying our home and got a job in accounting for a smidge less than 37k, back then 37k would probably equate to middle class, now that's poverty wages. I make almost 100k with a bachelors living near the city and rent and COL is rising faster than my wages.

@nwatson2773 2 года назад

Yes you said it!! My mom owns a property. The sane property that she put down 3%. Now I am required to put down 20% and 4x the price.

@brycehilt858 2 года назад

The housing market is through the roof and very competitive in bidding for a home. Us late millennials are having hard time looking for a home and are forced into a rental apartment thats owned by a commercialized property owner that I'll be paying similar to a 30 year mortgage rate. Also getting crucified by the outrageous taxes on the middle-class.

@thebastardgift 2 года назад

And as potential home buyers are pushed out of the market, tattooed to become renters, the rent goes up and renters who lived in the apartments before these newcomers have to move and there is nowhere to go. In the meantime some homeless shelters charge for a cot on a cement floor.

@Bwize716 2 года назад

Yea it’s tough time for young people trying to buy a home, guy at work keeps on getting his bids beat out even offers over asking price in cash.

@tira2145 2 года назад

All brought to you by the government.

@Sophie3647s 2 года назад

24. Probably will live with my family until 30 and won't ever have a kid

@tira2145 2 года назад

@@Sophie3647s why? Just live within your income.

@sarahlo4661 Год назад

…And yet people chastise us for not meeting traditional milestones when the whole game has changed

@515ventures3 Год назад

$1700 a month in rent and $800 a month for two cars? And your income is at $100,000? OK now my head is starting to hurt! You quickly turn that rent into a mortgage and buy 2 used cars that are paid off! Renting and car payments is a total waste of money! This is just financial education and she deff does not have that!

@omegalightning5715 2 года назад

And who's the ones to blame for prices going up? Answer: politicians. Left, right, middle. It is all of them. We pick sides when no one is really on our side. We fight over who's right when we are all fools.

@Dodo-ck5tq 2 года назад

You are correct.

@theroundman 2 года назад

So true. Left wing. Right wing. Same plane, headed in the same direction.

@omegalightning5715 2 года назад

@@theroundman we are nothing but pawns, are we not?

@djot1745 2 года назад

YES! The left hand and the right hand are just different sides of ONE body. None of them give two shakes about the people. Every single one of them leave office richer. The longer they are in office the more filthy rich they are. NONE of them will come save you when the problems THEY cause leave you destitute. Wake up people. It is a big club and we aren't in it!

@omegalightning5715 2 года назад

@@djot1745 it's just a small part of the big picture.

@Ro7ard 2 года назад

This happened because we didn't take "The Rent is Too Damn High" guy seriously

@vklmao8677 2 года назад

rent : is too damn high! .....proceeds to rap the whole speech in 30 seconds

@jonbrewer297 2 года назад

GFC, so they made it so you had to basically prove you had enough money to just straight up buy a house out of pocket if you wanted to borrow, rather than doing a damn thing to prevent another GFC. And now we know that bankers will just invent new things like bitcoin and NFTs to lose money on.

@zainmushtaq4347 2 года назад

We'll pay the rent when they FIX THE DAMN DOOR!!

@bradfisher407 Год назад

I remember that guy! 😂

@daniellefender4143 Год назад

Our government needs to keep us poor so we're easier to control.

@micahrutland991 Год назад

At least someone gets it.

@princetonscholar5723 7 месяцев назад

I’m always amazed at the people who spend $1200/month on automobiles ($800 payment + $400 insurance) then complain they’re not getting enough assistance from the government.

@user-sw1nv7qz2c 5 месяцев назад

I pay $200 every 6 months car insurance. Every 2 to 4 years I try to get this down 10%. Insurance is a rip off.

@Miakel 2 года назад

One thing to remember is on the outside a middle class family might look to be doing well, but behind the scenes they may be pay check to pay check buried in debt

@staceystrukel1917 2 года назад

Then get on a budget. The only excuse for that is an emergency. You are not entitled to new cars, a bigger house, new furniture etc...because you want it but can't afford it..

@kittykitkat4968 2 года назад

@@staceystrukel1917 exactly, only for emergency reason. But the last two decades I've noticed most people are on debts and buying stuff , when they really can't afford

@jaijai5250 2 года назад

@@staceystrukel1917 absolutely. Most people are brainwashed by marketing and consumerism. My motto is, live below your means, and that is what I instilled into my children. It brings immense peace, joy and contentment knowing that I don’t have crippling debts, for mainly useless consumer goods. This principle has allowed me to take early retirement and have time to myself whilst I’m still relatively young and healthy.

@annunakian8054 2 года назад

Letting speculators buy up homes they clearly don't intend to live in & then jack their prices way up all over the country doesn't help one bit.

@csmlyly5736 2 года назад

That’s literally what this country was founded on doofus. This is destiny manifest.

@aaz1992 2 года назад

@@user-hf2dr7sh4y yep. The Fed, centeal banks and global elites at the IMF are the one world government. Debt slavery for the global population is the plan and everything is going smoothly. It's a debt-based slave system. The only solution is sound money and small government. Unfortunately, only a revolution can set us in the right direction

@relaxxed_ Год назад

Honestly, after I'm done with college I'm probably going to live with my parents (I am going to major in CS so I can work remote) and save for a down payment on a house and probably a business too, its the only chance I'll really have of making it into the middle class even with a great salary.

@LauraElizabethArt 2 года назад

I’m a 28 year old veteran that moved back home after the Army. I’m in school and have a part time job making hardly anything as well as being in the national guard. My mom has let me live here for the past year and a half as long as I pay her as much money as I can manage to set aside. When I move out she’s going to give it back to me to help pay rent for a few months. If I didn’t have her I’d be on the street right now because of how high rent is everywhere. The world we live in right now is really scary.

@NoNo-ng9sl 2 года назад

1. Increased population. More competition for resources and jobs. 2. Devaluation of the dollar. 3. Automation 4. College degrees becoming diluted. 5. Increasing COL in cities (goes back to one). 6. Rising costs in manufacturing meant jobs were exported to cheaper wage countries. 7. Pivoting into a more service focused economy instead of manufacturing. 8. Foreign investors squeezing the housing market. The list can keep going and going. But I think these are the major points.

@thebastardgift 2 года назад

There is also the refusal of middle class to stop living above their means rather than below which could sustain them.

@LaughingSeraphim 2 года назад

It's not just foreign real estate investors. Home grown ones are just as bad. My friend works at one. They all call around and raise prices to meet the average every year (not price fixing apparently) , even with high vacancy (40%).

@oskarngo9138 2 года назад

In order words: Overpopulation!

@mattcee7113 2 года назад

Also employers and companies undervaluing jobs and underpaying staff

@tblaze8167 2 года назад

Open borders and taking care of illegals costs a lot of money.

@dparra119911 2 года назад

Chantal's story is literally my family's. So frustrating. Working hard to stay two steps ahead but always feeling behind still.

@moonie8830 2 года назад

Wouldn't the best option be to move to another country? I get why the rich would stay in America and I get that the poor can't afford to leave, but the middle class seems to still have the opportunity of a better life abroad...

@aufache 2 года назад

@@moonie8830 that would probably be best for the retired folk or the folk that had a few years / decades of working and can live off the fruits of their labor. Or even just the remote youtubers and such that can work anywhere, so why not a country with a lower cost of living. I dont think thats best advice for someone at the beginning of their career with not a big pool of savings.

@ishmaeldarjean2757 2 года назад

Chantel's situation is of her own making. I mean a 400.00 car payment and 280.00 for phone usage? Thats a lot of money. I think people need to live within their means and accept that they can't live these idealized lives with the newest things and expect to come out on top with everything else paid for. Its all priorities. That car payment as well as her and hubbies cell phones could be easily cut in half. I'm not sure if she did any sort of volunteer work but that helps too. I myself am a Veteran and take advantage of all of the options available. I had my bachelors paid off and paid a small amount for my MBA. Yes. The military isn't the idealized life we all dream of sometime but serving your country certainly helped improve my financial situation as well as built character along the way.

@johnfisher8401 2 года назад

@@moonie8830 the grass is not greener just by leaving the country.

@rosez4eva 2 года назад

@@ishmaeldarjean2757 I have to agree. Mesquite is not a high cost of living area and 100k is a very good income for 2 adults and one child. This is an issue of not having financial literacy and not the best example of the video’s point. She needs to sit down with a financial advisor.

@seraseely6570 2 года назад

"Why the Middle-Class is disappearing" Three words: 1. Trickle. 2. Down. 3. Economics.

@frankiewilde7791 Год назад

Same thing happened in Ireland. In the 80's my father's wage supported 3 children and my mother was a housewife. Had a nice house and were comfortable enough. There's no way you could do that on one wage today. And now nobody I know can afford to have 3 children unless they are totally depended on social welfare.

@candymonster795 2 года назад

Wages have been stagnant for decades (when adjusted for inflation) while the prices of homes, cars, food, gas, college etc. have skyrocketed. Corporations and many employers are extreme capitalists who use their earnings for stock buybacks and CEO bonuses instead of paying a fair wage. The US government has even incentivized these actions with huge tax cuts and subsidies. Until we get the lobbyists and money out of politics nothing will change

@coopsnz1 2 года назад

Franchise own businesses not corporation that have huge debt because of government , result prices go up

@shasmi93 2 года назад

Well everyone is fighting about what Joe Rogan said 20 years ago and what gender they are today…. Sooooo I don’t see us getting together and demanding meaningful change anytime soon. We’re on a sinking ship. Full of asshats on their phones not even paying attention to the ship sinking. Fun stuff 👍

@StochasticUniverse 2 года назад

The corollary to that is: if you can't beat 'em, join 'em. I watched and gnashed my teeth in 2008 when TARP was passed for the Too Big to Fail banks, shortly after they collapsed the economy with their recklessness. Where was the justice?! Today, I'm a shareholder of JPM, GS, and C, among others. God is dead; the only justice is that which we make for ourselves.

@shasmi93 2 года назад

@@StochasticUniverse god certainly is dead! Finally someone who isn’t a mindless religious nut preaching how Jesus will save us all.

@truthlove1114 2 года назад

Very very true

@lastempire7302 2 года назад

Who are we kidding? If you don't have a net worth more than 300k and a emergency saving for 6 months, you are not a middle-class, period (mic dropped.)

@MusicGameFinatic999 2 года назад

Lol, there are a very small number of folks who have those things. I am a millennial, and I don't know anyone that has savings that could last them 6 months. I just started my career in software engineering, and while i make a good salary, it will take me several years (at least) to save up and have savings that could last 6 months Edit: correction, i do not know anyone my age that has these things. I do however know some gen X folks that do have this kind of money

@666yaoz 2 года назад

@@MusicGameFinatic999 I have about $220k+ NW at 27 years old. Senior mechanical engineer in Midwest

@lastempire7302 2 года назад

@@MusicGameFinatic999 I'm 36 with two kids. 2M net worth, 6 yrs of saved expenses and I started off as a security guard with no fancy degree. No, I didn't "invest" in cryptos or WSB FDs. A young coder can easily be where I am today in 5 years (less, if you are a dual income couple) if he/she know how to handle the money.

@Bwize716 2 года назад

@@lastempire7302 what is your profession?

@lastempire7302 2 года назад

@@Bwize716 I'm just a regular 9-5er making no more than 70k (excluding investment income of course)

@OpenBiolabsGuy Год назад

All I have the power to do is live and exist in this world under these conditions. It’s frustrating to think that none of us have the power to change this and the people who do aren’t going to for one reason or another.

@e.tezani3877 Год назад

Simply said..the people are to blame. They are too distracted by their entertainment to rise up and say "no more".

@deeputhomas5397 2 года назад

As a middle class parent myself, biggest pain points are rising costs of housing, child care, and insurance. They are bare minimum needs to live a comfortable life. There should be something done to make those three things affordable without overly distorting the market with regulations and subsidies.

@acommentator69 2 года назад

Stimulus checks aren't free.

@ireminmon 2 года назад

What insurance? Medical?

@treehunned7615 2 года назад

@@acommentator69 It's redistributing corp wealth to family

@Sensoredcensored 2 года назад

Housing prices are out of control. I couldn’t have moved out of my parents house in this market and I actually had a very decent job right out of high school. The housing prices are literally out of control, something needs to happen

@darthvader5300 2 года назад

@@ireminmon Ever heard if the Hill-Burton Health Care Act and it's history? If you are an American, then surely you knew what I am saying. As a 94-95 year old I knew all of these things even before you were even born, that is, if you are a young person. But I still insist that your primary school teachers should had taught of such things. Especially the ORIGINAL Social Security System before it was sabotaged in the late 1960s. The list is endless. If you have great-grandparents ask them.

@amazingafrica6965 2 года назад

Paying $1200 a month for 2 cars, this is insane...

@ojames1983 2 года назад

Yep, yet many people don't want to take accountability for those choices. LOL

@NoOne-gp5hz 2 года назад

And $280 a month on a phone bill.... for most likely 2 people...

@danieldaniels7571 2 года назад

@@NoOne-gp5hz I use Mint Mobile. My phone cost me $10 a month, but I had to prepay for six months and use an older phone I already owned.

@LostMySauce 2 года назад

@@danieldaniels7571 My wife and I use Mint as well on our iPhone 13s. T-Mobile network, $40/month total.

@redwhite_040 2 года назад

It's not cheap to impress others

@WorkingNationDiscourse 2 месяца назад

This video underscores a critical yet frequently ignored reality: the shrinking of the American middle class isn't just about income, but also about diminishing economic security and opportunity. It's startling to learn that in 2018, a third of middle-income adults couldn't afford a $400 emergency expense, illustrating the fragility beneath the surface. This situation reflects broader systemic issues, where economic growth no longer equates to widespread prosperity. Such insights compel us to rethink the policies and structures that define economic success in our society.

@MasterTSayge Год назад

People wonder why Quiet quitting is a thing!

@darrelrobertson8169 2 года назад

Apartment rent, auto leasing, no pensions...I feel real bad for the younger generation who will own nothing in their lifetime.

@therealchucktaylor3392 2 года назад

💯

@Demopans5990 2 года назад

You will own nothing, and you will be happy

@robertdavis9801 2 года назад

@@Demopans5990 yep. The great reset.

@creichard181 2 года назад

“Most US families today will experience being poor for a period of time.” If that’s not a sad and terrifying state of affairs then I don’t know what is. The USA has become a rampant cash funnel to the top and it has us all on the fast track to poverty.

@thejquinn 2 года назад

The rich want feudalism to happen again, and they dont understand it never worked all throughout history, French Revolution, American Revolution, Russian Revolution, etc. etc.

@Watch-0w1 2 года назад

That capitalism uncontrolled. They need to leash those rich and make them pay they taxes.

@Tangarisu 2 года назад

@@thejquinn yeah but the difference then to now is the elite have technology rivaling that of what we thought gods could do. Weather control, sound weapons, Directed energy weapons. Robots, bioweapons, microwave emitters. And that's just the weapons WE can perceive.

@TylerSolvestri 2 года назад

@@thejquinn The thing is back then people had guts and the government didn't had so much time to control population as they pleased. The result of the modern world is the last 2 generations being masochistic of their governments struggle for total power.

@thejquinn 2 года назад

@@TylerSolvestri Well the US government feared its people till the 70s, and co-opting the market narrative and created slogans like "greed is good", and actively pushed policies to destroy the middle class ie NAFTA

@misslinda772 Год назад

It’s certainly not helping us that we have one recession after another. Companies letting go of older workers to save money while the same workers are retiring early, struggling to survive from retirement monies they lived off of during the recessions.

@MondoBeno Год назад

I think part of the problem is that builders speculate by building huge houses, rather than small ones. So you have houses that middle class people can't afford. What they can afford are tiny houses, so they move into former working class neighborhoods and drive up the prices. Then there's the consumption problem: Americans overspend like crazy, in addition to having to save up for college.

@mathisnotforthefaintofheart Год назад

You don't have to save up for college though having a little piggy bank is a good idea. Take up a 32 hour job that comes with benefits. Go to your local community college in the evening and work on your associate's. Then transfer to a public in-state 4 year institution to complete the remaining program. Of course, when you study part time, you will take longer. But it forces you to stop wasting time, and plan your precious time accordingly, you also learn how to manage your money and stop the rat race. You work during the days and study in the evening (and weekend) and let the rest party. You will graduate later of course but....you have no debt, work experience, you already contributed to a 401K and/or a ROTH. It can be done when you adopt a quasi minimalist lifestyle. I am a product of that principle and I now work in higher ed where I advocate for this strategy, especially the way the job market is now.

@MondoBeno Год назад

@@mathisnotforthefaintofheart I knew a guy who went from high school dropout to GED to Chipotle to Hospital orderly by the time he was 18. While a hospital orderly, he took a 2-year nursing degree (partly at their expense) and had the degree (and a raise) by age 20. He continued working on the BS degree, and had the full nurse's license at 21. He worked for another 2 years, saved up, and got a partial scholarship to Meharry medical college. By the time he started residency, he had no loans to pay back.

@mathisnotforthefaintofheart Год назад

@@MondoBeno So he played it smart! That's how it can be done

@Alex-wr6pd 2 года назад

I’m really terrified of debt. It’s definitely holding me down in the working class. Can’t be the alone one with this opinion.

@alancastaneda8322 2 года назад

Fear is the mark of intelligence. If you don't agree, observe the fools with tens of thousands of dollars in accruing debt for a degree that is not: medicine, law, or engineering. You're doing fine. You want more? Get a second job, or start a small business and grow. Most large companies and wealthy individuals existing today began during the last Great Depression, in their kitchen and or garage, think about that.

@Alex-wr6pd 2 года назад

@@alancastaneda8322 some true wisdom!!!

@mathisnotforthefaintofheart 2 года назад

Then make a budget. Learn about minimalism and spend less than you earn. Learn to invest (HSA en ROTH) and stop keeping up with the Jonesses...

@darkrulier 2 года назад

whatever you don't get into debt, I am debt-free and is an amazing feeling, don't fall into the credit card, student loan, car loan traps. There are resources out there that can help you with your goals and budget and stay debt-free. I follow Dave Ramsey and his methods just work.

@CelesteAnise 2 года назад

Do everything you can to get some money saved up to invest. That has been the only thing that has saved my overall worth through all my terrible jobs and underemployment and unemployment over the last 6 years and not having a job through the pandemic.

@garredneck 2 года назад

As a 60 year old, this all started with Reagan’s trickle down economics, lowering the tax rate for the rich and raising mine and at the same time getting rid of or lowering tax deductions . Then every administration since Reagan continued it in some form or another

@pn102 2 года назад

Trickle Down is a Myth made up by the left. Has nothing to do with that. This entire video ignore this. NAFTA caused much of it. Globalization. When jobs go overseas, the $ goes out and doesn’t come back in. Trade imbalance is applying downward pressure. Ridiculous education costs, transportation costs in the form of easy auto credit, and housing increases erode the middle classes ability to survive as more downward pressure is also rooted there. We didn’t have Mobile Phone Bills, Expensive auto loans 5-6-7 years, and didn’t have $ flushed into CATV/Internet and phone contracts, other subscriptions, software subs, streaming subs. None of that existed. This isn’t a tax policy issue, it’s a federal/state spending one, and much of it has to do with trade imbalance. Theres no means of production any longer. A nation must produce something of value, or you don’t have a nation. The less we produce the less value we bring to the table. The societies producing those goods keep their $ inside their world, it never comes back here. Growth of our Means of Production in any type of assett job will provide upwards pressure on income for middle class, all these issue becomes non issues. Right now the top benefits from the profit saved from sending it to cheap labor market, and all the supply chains needed to get those goods here. Why this whole concept eludes leftists is beyond comprehension.

@NN-sp9tu 2 года назад

@@pn102 Wait. You don't believe in wealth inequality?

@pn102 2 года назад

@@NN-sp9tu Wait!, you have beliefs or are those just assigned opinions from hive thinkers parroting a false narrative?

@NN-sp9tu 2 года назад

@@pn102 There actually exists decades of data to back up the fact that wealth inequality has increased dramatically over time. So anyone who disagrees with you must not be able to think for themselves even if they’re relying on hard data - maybe you don’t understand what evidence is or how it works?

@pn102 2 года назад

@@NN-sp9tu - facts are pesky things. What good data analysts accept is that all data is flawed and only tells a portion of the picture. What the sociologists know is that what comes after “because” doesn’t matter.The opinion assigners know this also, and use it to attach buzz words to the topic. A tell is when the word “equality” is attached. Theres a good article a few weeks back in the WSJ that discusses how 90% of everything is crap. Change your frame. It’s 2022. Our understanding of reality is subjective to oneself’s world view. That doesn’t make it so.

@risingphoenix1484 Год назад

Middle class was never single mothers ever in this country..

@AdAoat Год назад

Sad, scary, dangerous. God bless America, land that I love. Stand beside her & guide her…🙏🏼🇺🇸

@TheLastLineLive 2 года назад

You aren't actually middle class if you live a middle class lifestyle but can't afford to live that lifestyle for a sustained amount of time.

@thebastardgift 2 года назад

Exactly!

@acommentator69 2 года назад

The definition of middle class lifestyle is constantly changing

@csmlyly5736 2 года назад

Middle class is people who do not need another person to sign their paychecks as they have their own means of income, but who also do not have the kind of leverageable capital to be signing other people’s paychecks. These are lawyers, doctors, people who run their own “office" or business that is really only themselves or their business partners. You could make $200,000 and still be just a well paid worker. That’s lower class, not middle class. This has been the definition of the middle class since the 1800s.

@TheUser808 2 года назад

You are saying that the actual middle class is lower than the statistics? That’s believable.

@KRYMauL 2 года назад

@@csmlyly5736 That's the definition of the bourgeoisie as compared to the lords and ladies or landlords.

@SuperTurtleman100 2 года назад

Let me explain some basic economics to you. If the middle class in 1980 was defined by being able to afford a home and a car or two, and the same "middle class income" today can afford a single car and barely make ends meet on their rent/mortgage; then the latter is not in the middle class.

@hermeslein6614 2 года назад

America is a hellhole

@tim3440 2 года назад

If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time. You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..

@hoonigan1423 2 года назад

@@tim3440 yes The high living standards the less peace , try spending money for useful things ain't it right? Mr Tim

@tim3440 2 года назад

@@hoonigan1423 WEll that would be my take on it yes. Or at least share stuff... :p Like cme on... You are not obligated to have everything.

@deico4204 2 года назад

@@hermeslein6614 edgy

@vanessapierce231 Год назад

In the late 1970s my grandmother was studying the Bible with an Italian man y neighbor. He had said then, that there would come a time when only 2 classes of people would exist. The wealthy y the poor.

@zimz1096 Год назад

Middle class is disappearing because of greedy corporations. They want all the money. It’s all about profit.

@Rukukachoo 2 года назад

I know this video isn't about urban planning, but I think it illustrates how the zoning policies over the past 70ish years are negatively impacting the middle and lower class. The ridiculous suburban sprawl and car dependent urban planning are contributing to the unaffordability of problem. It's ridiculous that a family, which is already stretched financially, has to bear the burden of two vehicles just so they can have basic mobility and earn an income. This woman can't afford to live in the desirable central neighborhood she grew up in because supply of housing in those areas has been artificially blocked from increasing by local government and FHA policies. Instead the vast majority of housing has been built in the suburbs where it's nearly impossible to provide reasonable transit options. This family is paying $1200/month just to be able to get to work and buy groceries .... a metro pass in most european cities is less than $100/month.

@MikeyPaper 2 года назад

Illistration is goods

@ionebae9157 2 года назад

Correct. My partner and I couldn't afford to buy a house in the city that we both work in, so we bought a home in a suburb 20 miles away. Since we both commute in at different times, we had to buy a second car which we paid for in cash for $28K. With gas prices now at $4.50 a gallon, we are spending about $80/week on gas alone. I also have to pay $75/month for parking at my workplace. Throw in insurance and maintenance costs, and it's just absolutely insane. Technically we could take public transit, but that would double or even triple our commute times. We usually drive into the city on the weekends as well because we don't have kids and there's nothing to do out here in the burbs.

@escazuzu9950 2 года назад

Peter Calthorpe has an excellent TED Talk on urban planning and how redesigning a city to allow for better public transportation and more walkable areas would not only reduce CO2 emissions but also save a family upwards of $10,000 per year because they would not need a car. I highly recommend checking him out.

@swedishvegan7866 2 года назад

So true!

@LetsDanceTampa 2 года назад

Europe is a lot smaller space for trains and other public transportation to cover and so easier to do.

@jennifer_lopez3843 2 года назад

Im 18 years old and I remember when I was in middle school how 75 dollars would get you a full cart of groceries and now a full cart is almost 200 dollars it’s astonishing how In a six year time span its increased this much

@downtime86stars17 Год назад

It's not even the last six years. Two years ago, I could come home with three or four bags of groceries for about $60-65. My last trip to the store, I came home with the same number of bags, didn't buy anything fancy or extravagant, and paid $104.

@windsofmarchjourneyperrytr2823 6 месяцев назад

Aldi and Costco.

@girlpower5703 Год назад

Everything is not easy at this society, inflation going up, having kids more than one are too costly, everything is too expensive.😯house are going up. It’s insane