Average American Household Has $90,000 In Debt

Again, I am absolutely in favor of raising the minimum wage.

What I'm saying is that McDonalds jobs were never intended to be used to support families. The issue isn't just that these types of jobs aren't paying enough...its that unskilled employees need more opportunities for higher training and education so that they can't get higher skilled/more secure jobs.

They recently did a study in my area about how hard it is for high school and college kids to find summer and part-time employment because the jobs that they normally take are now being absorbed by unskilled adult workers. Those jobs weren't intended for that demographic.

 

Why do Democrats want a minimum wage of $15 per hour?

Easy peasy. To force people up into a tax bracket. Though the low waged worker is often part time, a teen or a person with no family, you bump them up to higher income and by golly now the Feds can tax them.

This is a scam by Democrats to collect more taxes.

The Feds can bump the worker up to $31,200 per year and that for a single person clearly puts them into a tax bracket.

 

I read you as saying to me

 

Now if you can just persuade the Democrats to get the nation down to zero debt.

The republicans goals are just that.

 

You can not even support yourself. According to the CEO's of McDonnalds,.. top of my head,.. you're missing like 800 to 900 bucks a month. And intent or not.. that is how it is. And it is how it is for a lot of people also working elsewhere. Hence there is little difference between those people and some poor gimp in Africa being depended on the UN.

 

lol, no it isn't. If that was the case, the illegal Iraq war would have never happened or would have been paid for and they wouldn't have voted against the Simpson-Boyles recommendations.

They also voted against using the yearly surplus towards the debt when Bill Clinton in office.

 

Americans are living off the world, like parasites, let's not boast it.

 

None of it particularly concerns me... My comment was to show that US households are not, on average, the most in debt.

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You are referring to Tina Fey, Palin never said that. (and I am no fan of her)

 

H

You make everybody on this board laugh with your obvious state sponsored propaganda

 

Could you be more specific?
Also, does declaring bankruptcy mean losing a home or car you still owe on?

 

What do you envision a "good" household annual income in the US for a family of four?
The middle-class is almost entirely in debt. Almost nobody buys homes and cars with cash. We finance quite a bit.

 

What is a reasonable cash price for a car and what can you get for that price?

 

i just bought my wife a brand new car..the price they wanted was 32,000 plus tax and license..i offered them 26,000 out the door gave them my business card and told them if they wanted to sell it give me a call...an hour later they called and told to come and pick up the car..which I did for cash

 

Mortgage, auto, and medical account for the overwhelming majority. All lending changed a bit after the housing crash.

 

Sure you did....comical. 26k cash you got in an hour at the dealership. Impossible.

 

not if you don't declare it in the bankruptcy and keep paying on the loans

 

true.. i have bought many trucks and cars from that dealership over the years..i own my own business..

 

You can include the house and car in your bankruptcy and keep them. You don't even need to reaffirm the loans.

 

Could you please walk me through your transaction in which you drive off debt free?

 

i save money..have it in my savings account..when i need something i pay for it..in full..get better deals that way...i have done it with every personal vehicle that i have bought since my very first car..and that car was a vw bug...

 

36k in a savings account would be a profoundly foolish thing. People don't have that kind of money in savings.
Accessing that kind of money in an hour is unrealistic. Dealerships also don't accept huge cash payments. You'd use a certified check likely after you move that kind of money around so you can spend it.
Your account is impossible on many levels.

 

the car was 26,000..and yes many people have that kind of money in their accounts..i got a bank check from my local bank before i went to the dealership...not everyone works for $10 an hour...

 

this is the real world..you can stay down at the bottom and blame everyone for being broke or you can make changes and get ahead..it is up to you...but the opportunities are there..its up to you to go after them and make it happen

 

You don't keep that kind of money in savings.
Nobody keeps that kind of money in savings accounts. Do you know why?

 

it is insured..and yes they do..