If you are a junkie for this president then you will know about the extremely good economy that he is presiding over, right?
Then explain the yo-yo effect in the last week. Something has investors nervous. Wassup wit dat?
We hear that hundreds of thousands of jobs are being created…..or the factories that are re-opening….on and on…..but just how good is this economy for those that do not have legacy money or lots of zeros in a bank account?
The U.S. mobility rate dropped again to a new low in 2017, with just 10.1% of Americans moving homes, according to new data from the Census Bureau.
Why it matters: Economic opportunity isn’t enough to get people moving anymore. And less mobility could mean the wealthy areas of the U.S. continue to accumulate wealth, while the poorer areas will remain poor because people are less likely to move for better jobs and companies are less likely to move for cheaper labor.
With all the great news about the economy then why is there still abject poverty? Why is that?
What does it mean to be poor? Currently there are two basic ways to define poverty. To get a better measure of who needs help — and a better sense of how to provide it — society needs a third definition.
The first definition is absolute poverty — essentially, material destitution. Human beings need food, water and shelter, and if we can’t afford these things, life is pretty miserable. In the U.S., the federal government has poverty guidelines that are based on food consumption: If you make less than about three times the minimum amount people need to spend on food each year, you’re poor.
THe American Dream is dead….dead….dead…..and who can we say killed it?
Donald Trump, during a recent stop on his “Anarchy in the UK” tour, argued that the mass influx of immigrants into Europe is causing Great Britain and other nations to “lose their culture.” The fear of cultural dilution and transformation as a consequence of shifting demographics is widespread, and it resonates in the United States, too, especially among those who support the current president.
Stephen Bannon, Tucker Carlson, and other popular right-wing figures have warned of threats to national identity in an American context, contending that Mexicans will not assimilate and that Islam is incompatible with liberal democracy and secular governance. Liberals and libertarians often respond by recalling the long tradition of assimilation in American history, along with the outrage that often accompanies new arrivals. Nearly every ethnic group, from the Italians to the Chinese, has been the target of political and social hostility. It is an old story, but one worth telling, and it is an old debate, but one worth having. Border sovereignty, even to someone like me who probably favors more liberal immigration laws than most TAC readers, is a legitimate issue and not to be easily dismissed.
But if things are as bad as all this then why is Trump trumpeting(no pun intended) his support for the Middle Class and all Americans?
President Trump’s iron clad campaign promise that auto layoffs would cease has evaporated into hot air. At his rustbelt rallies Trump insisted that if he won the election the auto industry would so fear him that they would not only end layoffs of American workers, but bring back the factories they had built overseas.
Late last month, General Motors announced it would slash its salaried workers by 15 percent and terminate one in four of its executives. The “reset” will be felt well beyond the company’s Oshawa plant in Ontario, Lordstown, Ohio, Detroit and Warren, Michigan and White Marsh, Maryland GM targeted for layoffs.
If you have money then you are smiling….if you have no savings then you are worried about the coming year……pretty much America as usual.
By The Way….remember those tax cuts that were gonna makes us all wealthier?
Most Americans expect to pay less in federal taxes this year, after President Trump and Republicans in Congress passed a last-minute tax bill last December.
But thanks to a rule change that the Internal Revenue Service made Thursday, a lot of Americans will reportedly be paying a bit more in taxes in 2019 than they thought they would–and even more in later years. Eventually, maybe a lot more.
It all comes down to a simple math equation, as first reported by The Wall Street Journal–or more accurately a series of simple math equations. Because the tax law uses particular dollar amounts to establish thresholds for different things–tax brackets, the amounts of deductions, etc.–the IRS has to adjust many of these numbers for inflation each year.