Posted by Stamper_WI on 1/31/06 9:21pm
Msg #92823

Anyone else finding this depressing?

78 yr old widow taking out a mortgage to pay off credit card and medical debt?
Young family 6 months in their new home taking out a 2nd to pay off medical debt?
Sitting across the table from people you have known for 25 yrs as they sign on for another 30 yrs?
Sure it business for us but I had a horrible time turning on the State of the union address tonight.

Reply by Rick_NY on 1/31/06 9:36pm
Msg #92824

Don't blame me, I live in a "Blue State."

Reply by GL/CA on 1/31/06 9:46pm
Msg #92825

Re: I SECOND THAT!!

Reply by Stamper_WI on 1/31/06 10:17pm
Msg #92827

Blame?

I am thinking more in terms of back scratchers and the navitae' (sorry about the spelling) of consumers buying into the terms of credit. Deception of credit card companies inserting opt out opportunity ( of the opportuniy to pay a higher interest rate) to hold your rate at lower rate inserted in with all the ads that come in the billing months before the bill was even introduced in Washington. Sounds like a done deal to me.

Reply by Rick_NY on 1/31/06 10:47pm
Msg #92829

Nevermind. [Re: Blame?] n/m

Reply by PL on 2/1/06 9:42am
Msg #92915

As for being depressing, it's discouraging that people have to go that route. One must remember that most credit problems in this country comes from having to have it now and not worrying about tomorrow. As for our friends in the 'Blue states" most credit card companies are headquartered in Delaware a firmly entrenched blue state. So this has nothing to do with political persuasion, but with individuals making better choices in their lives.


JMHO

Reply by Anonymous on 2/1/06 9:49am
Msg #92918

They are probably in Delaware as I believe D offers corps. the best tax laws to operate in, probably due to the strong hold of the DuPont family. I don't think it is red or blue, it is green.

Reply by newlysmomva on 2/1/06 10:00am
Msg #92924

Re: Anyone else finding this depressing? Absolutely!

It is said that in this country people have to go in debt to pay their medical bills. Socialized medicine in the answer but it will never happen here. Too much greed. Another contribution to the credit card problem is that wages are so low and living expenses are so high in comparison, people use them just to get by. When the newspaper advertises a "good paying" job of $15,000.00 a year and health insurance will eat up half of that...what choice do they have?

Reply by celeste/ca on 2/1/06 10:30am
Msg #92949

Re: Anyone else finding this depressing? Absolutely!

The choice is stressing a good education. This county excels because of capitalism. Having the government pay for everything is not the answer! My husband works hard for his money to stay in our household, not to give it to people who don't want to better their lives.

Reply by LawrenceOK on 2/1/06 10:36am
Msg #92954

Re: Anyone else finding this depressing? Absolutely!

It is virtually impossible for even a single person to live on minimum wage. By the time you pay rent, (most can't afford a mortgage) gas back and fourth to work and utilities that paycheck is history. Now throw a child into the picture and what do you have? The consumer price index has doubled since the last wage increase.

Reply by celeste/ca on 2/1/06 10:44am
Msg #92958

Re: Anyone else finding this depressing? Absolutely!

That is the point, people are not meant to live on minimum wage. Again, mimimum wage jobs are stepping stones for people to realize this isn't what I want for my life, there is something better out there for me, how do I go and get it. What we don't do is to push these people into not stopping there, go out and learn what you want. Don't tell me they can't afford it either, because there is grant after grant for lower income people. It has to do with desire, drive, determination to succeed.

Reply by TitleGalCA on 2/1/06 2:55pm
Msg #93064

I agree with you celeste, minimum wage

is not for people to live on and was never meant for that. It was meant for entry level people only, whether working their way through school or supplementing the main income or a variety of other reasons.

I've never understood how people (politician's) justify getting on their soapboxes about some poor family trying to make it on minimum wage - they won't make it. Somebody has to get some training and a better job.

Reply by Anonymous on 2/1/06 2:44pm
Msg #93061

Re: Anyone else finding this depressing

We can all start by not shopping with Wal-mart and the like ---- I think they may be the largest employer in the US - and then wont pay more than 5 bucks an hour, give me a break. Ppl cannot survive on that income. They come in destroy everything this country has fought to establish. Bring their manufacturing overseas. etc etc etc. (such ashame) i could on and on and on. they give absolutely n-o-t-h--i-n-g back to society. but they sure know how to make theirselves look good in the press. what a joke.

Reply by CaliNotary on 2/1/06 2:57pm
Msg #93066

Re: Anyone else finding this depressing

Here's a radical idea. If you don't want to make minimum wage, don't work at Wal Mart.

People make their own choices in life. It's quite possible to climb out of poverty, people do it all the time. Sure, it takes a lot of hard work and ambition, but it absolutely can be done if somebody is determined to do it.

Don't blame Wal Mart, blame the people who don't aspire to be anything more than a Wal Mart worker.

Reply by celeste/ca on 2/1/06 10:00am
Msg #92922

Exactly right. This is a choice people make about wanting to keep up with the Jones'. It is only going to get worse since our children are growing up with everything handed to them. They are living expensive lifestyles, and it is only going to carry on as they continue to grow. Thus, credit cards come in to play, they spend to much and after a year or two realize they are way in debt and now what do they do. We need to start teaching our children now you can't spend more than you make, easy concept but hard for many to put into play.

Reply by ReneeK_MI on 2/2/06 6:34am
Msg #93226

I'll give you depressing:

From the NY Times:

"New government data indicate that the concentration of corporate wealth among the highest-income Americans grew significantly in 2003, as a trend that began in 1991 accelerated in the first year that President Bush and Congress cut taxes on capital.

In 2003 the top 1 percent of households owned 57.5 percent of corporate wealth, up from 53.4 percent the year before, according to a Congressional Budget Office analysis of the latest income tax data. The top group's share of corporate wealth has grown by half since 1991, when it was 38.7 percent.

In 2003, incomes in the top 1 percent of households ranged from $237,000 to several billion dollars.

For every group below the top 1 percent, shares of corporate wealth have declined since 1991. These declines ranged from 12.7 percent for those on the 96th to 99th rungs on the income ladder to 57 percent for the poorest fifth of Americans, who made less than $16,300 and together owned 0.6 percent of corporate wealth in 2003, down from 1.4 percent in 1991."