Not trying to be political, but just to state some basic facts. I am in a mid-level professional managerial position with annual salary of close to 100k and very little bonus. Last year, my salary increased about 4% than the previous year. This year it was about 5%. I work very long hours---12 hour per day 6 days a week has been the norm. I started to work at 5 in the morning about at least half of the working days during the past half a year, because some of my work teams are located in Asia and Europe. At the same time, during the past two years: 1. My out-of pocket health insurance premium(family plan of four) increased about 50% 2. My auto insurance increased about 10%. 3. Gasoline price almost doubled. 4. I saw significant increase in food prices. With day care for two toddlers, mortgage, one car loan, health insurance and everyday bills to pay, I felt I have been squeezed very hard during the time. By the way my house and cars are not fancy and I don't buy name brand clothing or other luxury stuff. However except for my 401k plan, I couldn't save a dime for my children's future education and I was even forced to touch my long time cash savings. I am pretty sure with the inflation, I am worse off now than 2 years ago purchasing power wise and I will have less and less of that in the near future. How about yours?
Blame your employer for this. Health insurance prices are going up as slow as they have in decades, and didn't go up anywhere near 50%. Your employer just doesn't want to pay as much and is making you cover the cost. Auto insurance costs are directly related to claims costs by the company. This is factually untrue. Not sure where you get food or what you specifically buy, but there has not been any significant food inflation over the last two years, with the possible exception of recent hikes due to the drought. Your salary has gone up at a rate higher than inflation the last 2 years. You have more purchasing power today than 2 years ago.
I am not better off, but the President's job isn't to take care of my personal life. You know, "I built this!"
No, you missed the point entirely. If you failed it wasn't your fault, the president failed you as Ryan so eloquently pointed out at the RNC. The only time you build something is if it's successful. Jeez...
I am not the ones with salaries 500 times of yours. I am a nobody just barely getting by my everyday life. So don't hate on me, bro.
Don't blame capitalist ideology for your meager pay. Republicans give tax cuts and hand outs to the rich, so please direct your anger at them. Gas prices going up during the Bush years caused the price of commodities to rise at a much higher rate than normal.
I think I am and most people around me as well. That said, my circle of friends and acquaintance are in that age group of late 20's to early 30's, we're naturally progressing from broke students/recent grads with NO money crashing on parent's couch to responsible adults with some savings over the last few years. So it's natural for us to be better off as our careers advances and we save up for the next big thing. Once we go ahead and get the kids/house/etc, I'm sure we'll feel pretty broke pretty soon. As far as costs: Premiums have not increased noticeably for me. Auto insurance might have actually gone down (once again, step change after age of 25). Gas Prices have remained the same more or less to me. Stocks have done much better. I actually see the increase in food prices myself, but it's not that dramatic. Hotpockets are still about $1 each, we're talking about 5% here and there. It's been harder with an wife who refuse to follow my "if you're spending more than $1.50 a meal you're doing it wrong philosophy". to Vlaurelio: That said family of 4, I do relate in that money can go away pretty fast. $100K pre-tax is ~ 75K after tax or a little over $6K in your pocket every month. If you're doing your 401K (6%) + other retirement savings responsibly (6%) + health care (5%) + random savings (3%), that's probably another 15 to 20% of your income gone. So now you get to about $4.8K. Housing cost (whether it's to rent or own) is probably about $2K so you're looking at $2800 left. Cable + Electricity + Phone + Internet + Car payments = $1K (if you drive something decent but not ridiculous) so now it's down to $1800. So we're looking at about a $450 a week for food, gas, and etc for 4 people. So yes, to live a middle class lifestyle, $100K per year isn't really that great. Especially if you budget in luxuries such as "family vacation". Throw in college education savings for the kids and you can see where the money goes. There is a lot of things we don't "Need" in that list: Cars, Phones, decent food, and etc but they're mostly chump change. I'm also sure if we lose our jobs, these become the cuts. But here's where I turn liberal: If we can have a better elderly safety net than Social Security, better health care system (i.e. government sponsored), and better and more affordable public transport (no need for cars) we have no need for insurance premiums, less need for saving as much for retirements, no need for cars. That would increase the real after tax spending power of most MIDDLE CLASS American households by ~50%. It will not only increase our standard of living but should spur growth (more spending power = more spending). And if it means taxing the top 1% a bit more but take out the health care, savings, and transportation cost out for most Americans. I'm kind of ok with that.
I did the ball park for him, probably not exactly his expenditure, but I don't really think someone making $100K WITH a family is that much better than the average person. In fact, it's around 67%. http://www.whatsmypercent.com/
