Half of Americans are spending their entire paycheck (or more)

[Tijuana]

http://money.cnn.com/2017/06/27/pf/expenses/index.html



This is shockingly high. It is clear the government needs to do much more. Enough spending overseas on the military and much more spending on social services on home. Time to take care of the citizens!

Imagine how much worse off those living paycheck to paycheck would be, if we were suffering under Hillary or Bernie's tax increases?

[Deleted]

people spend like retards thats why.

i live frugally so i willingly work only 30 hours a week and every 4 weeks i have 1500.

i usually save 250 by the end of it.

and thats with me spending 130 or so a month on steroids(eu so its legal) and way too much on groceries.

if save 10 grand a year if i actually went clean(and be a dyel piece of shit) and worked 37 hour weeks.

[Spectral]

What I'm reading in this thread:

Everyone is an idiot but me
　

Not true! Many of my friends are also not idiots. Many people in various outgroups that I don't like very much really are morons though. Some people are unlucky or just not very blessed, but people that make six figures and spend literally every penny are fucking ridiculous.

[Blobfish]

Contribute to the thread and quit flaming. Actually discuss what should be done please.

Whats the solution for Canadians carrying less debt then ?

You will probably find that most Canadians are living paycheck to paycheck as well

http://www.cbc.ca/news/business/igno...ings-1.4179540

http://www.cbc.ca/news/business/cmhc...dall-1.4141642



Canadians have heard the message over and over again, from the Bank of Canada, the Parliamentary Budget Office and even the credit industry itself: Personal debt levels are alarmingly high, especially in light of interest rates that are only poised to increase.

Why aren't those warnings convincing Canadians to borrow less? The answer may lie in a combination of blissful financial ignorance, economic incentives to keep borrowing and complex subconscious attitudes towards debt.


The level of debt Canadians carry is the main worry for the head of the Canada Mortgage and Housing Corporation.

In an interview Thursday with Peter Armstrong, host of CBC News Networks' On the Money, CMHC president and CEO Evan Siddall said he worries that debt load means we have "straitjacketed ourselves."

"We have fewer degrees of freedom, because we have more household debt, and that means we are more vulnerable to all sorts of things, whether they're domestic or off-shore, as far as shocks go, and that hurts all of us," Siddall said.

[Tennis]

Imagine how much worse off those living paycheck to paycheck would be, if we were suffering under Hillary or Bernie's tax increases?

Uhh Bernie would at least ensure that inequality was reduced through social programs. Plus healthcare would likely be expanded. Sounds like a way better plan than cutting taxes on the rich.

[Tijuana]

Uhh Bernie would at least ensure that inequality was reduced through social programs. Plus healthcare would likely be expanded. Sounds like a way better plan than cutting taxes on the rich.

You missed the point. Bernie's plan raised taxes for everyone. In fact, it would have been the highest tax hike on the bottom two brackets in US history. People would be suffering if he had won.

The problem with the "tax the rich and do all these things" mantra is, there are never enough rich people to pay for it all. Hillary's plan raised taxes for poor people as well. You have to, if you want to pay for all the "free" stuff. It's basically saying, "Here, let me manage your money. You are stupid, and we are wise. Let us handle this."

No thanks.

[unfilteredJW]

Again, just because there a problem, it doesn't mean you have to be a moron and sell all your rights to the first snake oil salesman you run into.

The fucking irony here is amazing.

Bravo.

[Mgann-Morzz]

Yeah of course, this is barely even an ideological thing anymore. the United States is tethering on the border of societal collapse, largely due to income inequality. Obviously the State has to things to prevent that.

[Big Picture Loans]

Maybe it's because I'm leaning heavily towards capitalism and free market economy - I say every man for himself. The government should stay out of economics and out of people's pockets as much as possible. No help for spenders. Fix it yourself.

Totally agree.

- - - Updated - - -

Yeah of course, this is barely even an ideological thing anymore. the United States is tethering on the border of societal collapse, largely due to income inequality. Obviously the State has to things to prevent that.

Government involvement is the problem. The government gives too many hand outs when they should be giving a hand up. Instead of giving money to impoverished people, the money should be used to teach them a trade so they can learn to make a living. Many people want to learn to make a living and not continue to take money from government handouts. Giving people money for free perpetuates the growing problem of income inequality.

[Hilhen7]

Your not here to enjoy life, your here to slave for your corporate masters.

Thus the problem is obviously that you spend too much, not that you get paid too little.

[Devilock]

I bet every single one of those people living paycheck to paycheck have an iPhone and 50 inch tv in their homes. You know, the important stuff.

[Shadowferal]

I bet every single one of those people living paycheck to paycheck have an iPhone and 50 inch tv in their homes. You know, the important stuff.

Not me...I don't even have the internet at home.