Comments on: The “Cost of Living”; 1957 vs. 2007 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/ thoughts and opinions on God, life and service to others Fri, 04 Jul 2008 23:36:17 +0000 http://wordpress.org/?v=MU By: Corvidae http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-442 Corvidae Fri, 23 May 2008 15:59:50 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-442 In 1957 the highest tax rate was 91% for income above 400,000, as opposed to about 35% today. Of course using the 10x rule you have to look at people making over 4 million a year. Most of the people in that tax bracket receive large amounts of dividend income that is only taxed at 15%. That's why even Warren Buffet complained his taxes were only 17.7% while his secretary was paying over 30%. And that doesn't include money made in foreign countries that never enters the US so it's never tracked by the IRS. Yes, you're supposed to report it, but how many people are going to accurately report their profits to the IRS knowing they have no way to check? Other things to consider are that since women have joined the work force, they've effectively doubled the number of workers (They're still not quite there, but getting real close) making the value of work drop. The gold standard has been dropped, we now have to import for energy needs and we're competing with third world countries for labor costs. Add that on top of banks turning every trick they can to increase credit lending, and it paints a dangerous picture. Personally I still think the best answer is pirates. Drive up the cost of over seas shipping and local markets increase in value. And it gives the military/security freaks something to do. In 1957 the highest tax rate was 91% for income above 400,000, as opposed to about 35% today. Of course using the 10x rule you have to look at people making over 4 million a year. Most of the people in that tax bracket receive large amounts of dividend income that is only taxed at 15%. That’s why even Warren Buffet complained his taxes were only 17.7% while his secretary was paying over 30%. And that doesn’t include money made in foreign countries that never enters the US so it’s never tracked by the IRS. Yes, you’re supposed to report it, but how many people are going to accurately report their profits to the IRS knowing they have no way to check?

Other things to consider are that since women have joined the work force, they’ve effectively doubled the number of workers (They’re still not quite there, but getting real close) making the value of work drop. The gold standard has been dropped, we now have to import for energy needs and we’re competing with third world countries for labor costs. Add that on top of banks turning every trick they can to increase credit lending, and it paints a dangerous picture.

Personally I still think the best answer is pirates. Drive up the cost of over seas shipping and local markets increase in value. And it gives the military/security freaks something to do.

]]> By: carlos9900 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-396 carlos9900 Mon, 21 Apr 2008 12:17:15 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-396 Very nice reading. It seems the trend with the housing it's about the same or worse around the world. Very nice reading. It seems the trend with the housing it’s about the same or worse around the world.

]]> By: Lexie http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-295 Lexie Mon, 17 Mar 2008 22:04:38 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-295 I am only 12, but we're doing a "Year Project" in school, and we have to talk about major events, cost of living, jobs, inventions, etc. in the year that we get. I got 1957. I read this article and it is exectly what my teacher is talking about. Today's economy is absurd! It's unfair and just plain greedy and ignorant what the rich are presenting. They get everything they want,and it is mostly people like them that are causing all these problems. I'm not talking about the educated, deserving rich, but the ones that you actually see on TV with 42" rims, no voices, topless(and sometimes nude) yet making billions. I want to twist their heads of or teach them a thing or two about real life. I can't stand them: I hate what they stand for-It's rude and disrespectful to women, I hate how they portray everything they stand for -It's distguting, and I hate that they are making billions for doing something that many people can do 100,000,000 times better. And the thing I hate most, is that they don't realize any of this. I'm really glad that a man like "P Diddy" of Sean Combs made a movie like Raisin in the Sun. He also won a decent amount of money on "Millionare" and I have learned to appreciate him. I worried that by the time I have a family, it will be 80 degrees outside during the winter, my 2 bedroom apartment will cost $6,000 a month, and I won't be able to drive a car becuase gas will be $20 a gallon. PLus, my kids will never taste the deliousousness of cereal because, unless we buy a cow, milk will be $18 per gallon. I am only 12, but we’re doing a “Year Project” in school, and we have to talk about major events, cost of living, jobs, inventions, etc. in the year that we get. I got 1957. I read this article and it is exectly what my teacher is talking about. Today’s economy is absurd! It’s unfair and just plain greedy and ignorant what the rich are presenting. They get everything they want,and it is mostly people like them that are causing all these problems. I’m not talking about the educated, deserving rich, but the ones that you actually see on TV with 42″ rims, no voices, topless(and sometimes nude) yet making billions. I want to twist their heads of or teach them a thing or two about real life. I can’t stand them: I hate what they stand for-It’s rude and disrespectful to women, I hate how they portray everything they stand for -It’s distguting, and I hate that they are making billions for doing something that many people can do 100,000,000 times better. And the thing I hate most, is that they don’t realize any of this. I’m really glad that a man like “P Diddy” of Sean Combs made a movie like Raisin in the Sun. He also won a decent amount of money on “Millionare” and I have learned to appreciate him. I worried that by the time I have a family, it will be 80 degrees outside during the winter, my 2 bedroom apartment will cost $6,000 a month, and I won’t be able to drive a car becuase gas will be $20 a gallon. PLus, my kids will never taste the deliousousness of cereal because, unless we buy a cow, milk will be $18 per gallon.

]]> By: Linda http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-266 Linda Fri, 07 Mar 2008 07:27:27 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-266 I have always wanted to find this kind of information and excellent critique of where we've been to where we are now and where we're headed ,economically speaking. I was born in 1952 and have long felt that at this point in my life, it is sooo discouraging to work hard and have so little to show for it. It seems that only a couple of years ago, I tought $100,000.00 was a lot of money, but today, when I see what a $100,000 house looks like, you just want to cry! Everythng's gone up but salaries. If the average family income in the US is around $48,000, how in the world do ,seemingly , so many people live in these 250-300 thousand dollar homes? (Here in Texas, that will get you a pretty nice house.) Really like this blog! I have always wanted to find this kind of information and excellent critique of where we’ve been to where we are now and where we’re headed ,economically speaking. I was born in 1952 and have long felt that at this point in my life, it is sooo discouraging to work hard and have so little to show for it. It seems that only a couple of years ago, I tought $100,000.00 was a lot of money, but today, when I see what a $100,000 house looks like, you just want to cry! Everythng’s gone up but salaries. If the average family income in the US is around $48,000, how in the world do ,seemingly , so many people live in these 250-300 thousand dollar homes? (Here in Texas, that will get you a pretty nice house.)

Really like this blog!

]]> By: commercial building flood http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-182 commercial building flood Sun, 03 Feb 2008 20:29:32 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-182 The cost of living is about the same but our debt has increased exponentially due to credit cards and bad lending practices. The cost of living is about the same but our debt has increased exponentially due to credit cards and bad lending practices.

]]> By: Jimmy Carter http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-83 Jimmy Carter Sun, 16 Dec 2007 01:15:30 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-83 I am trying to do a study of compairing year after year prices tied to a raw material price that the producers has gotten and the price they get now and figure in the cost of living....from 1900 to present day....and I have no idea how to do that....can you help give me some idea of how to start or do you provide that service and if so how much.....need the following....Annual average wage...cost of average car and home...gas/bread/milk...dollar then to dollar now worth....cost paid to the producers and paid today...so as to show how little we get in todays market I am trying to do a study of compairing year after year prices tied to a raw material price that the producers has gotten and the price they get now and figure in the cost of living….from 1900 to present day….and I have no idea how to do that….can you help give me some idea of how to start or do you provide that service and if so how much…..need the following….Annual average wage…cost of average car and home…gas/bread/milk…dollar then to dollar now worth….cost paid to the producers and paid today…so as to show how little we get in todays market

]]> By: Matt http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-35 Matt Mon, 05 Nov 2007 20:17:53 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-35 Don't even think of showing the growth in government taxing, spending and sadly the growth of our defecit over that same period in time. It seems like the American people think that if they can't afford it and can't borrow enough to get it, then the government should step in and provide it to them at the cost of everyone else. The new American way has done nothing but prepare us for a time when these baby boomers start hitting retirement age and look to the government to keep them in housing, health care, medicine, food and other necessities because they couldn't save anything during their productive years. At least we should all be able to afford a glass of milk. Excellent analysis. Also worth mentioning is the increase in size of the average home vs. the decrease in size of the average household over that period. Fewer people living in bigger houses. Don’t even think of showing the growth in government taxing, spending and sadly the growth of our defecit over that same period in time. It seems like the American people think that if they can’t afford it and can’t borrow enough to get it, then the government should step in and provide it to them at the cost of everyone else. The new American way has done nothing but prepare us for a time when these baby boomers start hitting retirement age and look to the government to keep them in housing, health care, medicine, food and other necessities because they couldn’t save anything during their productive years. At least we should all be able to afford a glass of milk. Excellent analysis. Also worth mentioning is the increase in size of the average home vs. the decrease in size of the average household over that period. Fewer people living in bigger houses.

]]> By: The “Cost of Living”; 1957 vs. 2007 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-24 The “Cost of Living”; 1957 vs. 2007 Mon, 22 Oct 2007 11:50:27 +0000 http://mercyman53.wordpress.com/2007/10/21/1957-verses-2007-income-and-expenses/#comment-24 [...] I’ve put a link to this article here [...] [...] I’ve put a link to this article here [...]

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