Wednesday, 13 June 2012

Simple Truths About the Poor in America

First, they don’t pay taxes, so they don’t care how broke the nation gets.

Second, they typically aren’t stupid enough to borrow $80k for student education loans, $350k for a house loan, or $40k for a car loan.

Third, they don’t really care how much you pay the local school teachers because it’s not coming out of their paychecks.

Fourth, they don’t care if banks fail.

Fifth, they don’t care if Wall Street stumbles or falls off a cliff.

Sixth, they don’t care about import/export ratios.

Seventh, they don’t care about corruption in Washington, or for that….even in their own neighborhood or town.

Eighth, they don’t care what happens to that Snooki gal, Lindsey Lohan, Jessica Simpson, or the Oprah Channel.

Ninth, they will laugh at any IRS agent who shows up at their door, and refuse to even correspond with IRS on any issue.

Tenth, the highest priority in life….tends to be how many groceries you can put into a cart, with just a $100 a week for food for four folks.

My Neighborhood

They ran an article to compare things here in Virginia with the rest of America. It was kinda shocking to me.

Your typical average guy from Virginia who has student loan debt….owes an average of $30,855 right now….enough to buy a brand new Mustang fully loaded.

Your typical average guy from Virginia who has a mortgage debt…..owes $209k right now.

And your typical average guy from Virginia who has a credit card…..owes $6,340 right now.

It’s a shocking amount when you sit there and think about it. It’s a snapshoot of how a bunch of folks are living right on the edge….probably tied very tightly to their job and the economic survival of the United States. Just a tumble of one thousand folks going into the unemployment line…..would have catastrophic consequences for a long list of banks and loan organizations.