How many Americans are really living Paycheck to Paycheck?

[joeea]

I guess "living paycheck to paycheck" has different meanings to different people. To me it means if I miss a paycheck I can't pay my normal bills. If I have savings to cover a temporary job loss then i'm not living paycheck to paycheck. Majority of people I know seem to fall into my definition where they would have to put there food and gas on a credit card or not pay rent if they missed a paycheck.

https://crr.bc.edu/briefs/why-are-so-many-households-unable-to-cover-a-400-unexpected-expense/

- About 40 percent of households, spanning the income spectrum, say that they couldn’t cover a $400 unexpected expense.
- In fact, some of these households actually do have enough to cover this modest expense, but they feel constrained by credit card debt.
- Overall, the analysis finds that the vulnerable households fall into two main groups:those with low incomes, low educational levels, and/or a job loss; andthose with moderate to high incomes but with substantial debt, such as credit card balances, mortgages, and/or student loans.
- This widespread lack of precautionary savings is likely one reason why many households have trouble saving for retirement.

 

[Senator]

I have always been a optimistic but being a social worker gave me real life experience.

You should be a landlord, specifically a Section 8 landlord. Then you would see how people actually live, not how they say they live.

It makes me think that some people need to be in a work camp environment. It would help them build life skills, like getting up in the morning.

 

[joeea]

It makes me think that some people need to be in a work camp environment.

There you go. Put 'em in a work camp. That'll learn 'em.

 

[Senator]

There you go. Put 'em in a work camp. That'll learn 'em.

They certainly need something, handouts don't work.

It's a great reason to move to a sales tax, and get rid of the income tax. Everyone can help pay their fair share.

 

[Teacher Terry]

I have been a landlord and as a social worker have provided services to clients in their homes. A friend of mine was murdered by a client.

 

[travelover]

There you go. Put 'em in a work camp. That'll learn 'em.

Especially the ones with cancer.

 

[Senator]

I have been a landlord and as a social worker have provided services to clients in their homes. A friend of mine was murdered by a client.

One of my former renters is in jail for life. A violent sexual murder.

A live in BF of the Section 8 tenant.

 

[11522914]

Not sure whether it is optimist versus pessimist, but whether you have an internal locus of control (life is something you do) or an external locus of control (life is something that happens to you).

Seth has made it very clear that we create our reality without exception [emoji1] The Nature of Personal Reality: Specific, Practical Techniques for Solving Everyday Problems and Enriching the Life You Know (A Seth Book)

 

[aja8888]

My DW managed Section 8 housing for private owners (she worked for a fee management company) for decades. She managed several properties at any given time and did the staff hiring and budget development, and other not-so-fun tasks (like evictions). It's pretty obvious that many commenting here have no experience with Section 8 housing tenants.

 

[cyber888]

We need a Freedom Dividend (Universal Basic Income) of $1000 a month to save 80% of the population, many workers are being replaced by Automation and Artificial Intelligence . Best solution I heard

 

[joeea]

They certainly need something, handouts don't work.

It's a great reason to move to a sales tax, and get rid of the income tax. Everyone can help pay their fair share.

Sounds good to me. Let's replace progressive taxes with the most regressive taxes. Ya know - for their own good.

I'm assuming by "they", you mean poor folks. 'Cause "they" don't pay their fair share like you do.

 

[joeea]

Especially the ones with cancer.

Yup. I have cancer. I could work. But I can afford not to.

The ones who can't afford not to work should be in forced labor camps.

 

[Senator]

We need a Freedom Dividend (Universal Basic Income) of $1000 a month to save 80% of the population, many workers are being replaced by Automation and Artificial Intelligence . Best solution I heard

A jobs program that helps parks and schools would be better.

 

[joeea]

One of my former renters is in jail for life. A violent sexual murder.

A live in BF of the Section 8 tenant.

Right. Most renters are criminals. Even more so the Section 8 types. Not like homeowners - they are never in jail.

Landlords promote crime.

 

[Alan]

Thanks for the interesting discussion.