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Mon Dec 10, 2012, 07:46 AM

5 Enemies of a Decent Middle Class Existence in the US

http://www.alternet.org/economy/5-enemies-decent-middle-class-existence-us

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1. Medical Providers

They're taking a lot more of our money than Medicare does. According to the Council for Affordable Health Insurance , medical administrative costs as a percentage of claims are about three times higher for private insurance than for Medicare. The U.S. Institute of Medicine reports that the for-profit system wastes $750 billion a year on waste, fraud, and inefficiency. As a percent of GDP, we spend $1.2 trillion more than the OECD average .

***SNIP

2. Retirement Brokers

Various reports have concluded that administrative costs for 401(k) plans are much higher than those for Social Security -- up to twenty times more.

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3. Banks

Government is often blamed for local budget shortfalls, but cities and towns around the country have been repeatedly victimized by a "bid-rigging" process that diverts billions of dollars -- a few thousand at a time -- from numerous unsuspecting communities to the accounts of a few big banks.

***SNIP

4. Higher Education Operators

Outside of the banking industry, there may not be a more egregious example of public abuse than the expropriation of higher education by profit-seekers who have subjected underemployed young people to years of student loan obligations. The collection of outstanding student debt is managed in good part by big banks like JP Morgan and Citigroup.

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Reply 5 Enemies of a Decent Middle Class Existence in the US (Original post)
xchrom Dec 2012 OP
We People Dec 2012 #1
99Forever Dec 2012 #2
LWolf Dec 2012 #3
standingtall Dec 2012 #4
freshwest Dec 2012 #8
AnotherMcIntosh Dec 2012 #5
JDPriestly Dec 2012 #6
uponit7771 Dec 2012 #7

Response to xchrom (Original post)

Mon Dec 10, 2012, 08:10 AM

1. K&R

Thanks for posting this.

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Response to xchrom (Original post)

Mon Dec 10, 2012, 08:17 AM

2. K&R

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Response to xchrom (Original post)

Mon Dec 10, 2012, 08:29 AM

3. 5. Big Box and Fast Food Companies

While McDonald's enjoyed profits of 130 percent over the past four years, and Yum! Brands (Pizza Hut, Taco Bell and KFC) made 45 percent, and while the Walton family made $20 billion in one year , the median hourly wage for food service workers and Walmart employees is about $9 an hour. Many workers are stuck at the $7.25 minimum wage, which according to the National Employment Law Project is worth 30 percent less than in 1968.

Food service and big box store employees, among the fastest-growing job segments in the nation, are making barely enough to stay out of poverty. And it's not just the employees who are subsidizing their bosses. We all are. Low-wage employees are more dependent on the food stamps and Medicaid that are paid for by our tax dollars.

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Response to xchrom (Original post)

Mon Dec 10, 2012, 08:40 AM

4. Religous Right megachurches should be on the list. Infact they should be#1

for helping economic fascist to to convince members of the working class to vote against their own economic interest due to social wedge issues.

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Response to standingtall (Reply #4)

Mon Dec 10, 2012, 11:05 AM

8. +1

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Response to xchrom (Original post)

Mon Dec 10, 2012, 09:14 AM

5. #6 Presidents who sign let's-send-even-more-jobs-to-foreign-countries "free-trade" agreements.

 

If there is a better way to destroy what is left of the American middle-class for the benefit of the rich and super-rich, what is it?

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Response to xchrom (Original post)

Mon Dec 10, 2012, 09:44 AM

6. K&R

They forgot to mention trade agreements that result in our importing more and becoming less self-sufficient.

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Response to xchrom (Original post)

Mon Dec 10, 2012, 10:54 AM

7. All excelent points, numbers 1 and 2 stand out

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