The coming collapse of the American middle class
March 8, 2007
What’s bankrupting Americans?
I didn’t make up the title of this talk.
University of California Television did.
It’s pretty blunt, isn’t it?
But the number don’t lie.
The interesting thing is what’s bankrupting Americans. It’s not food, it’s not clothing, it’s not electronic gadgets and it’s not extravagant living.
Since 1970, for two income family with two kids:
* Mortgage payments: up 76%
* Healthy families that are getting employers sponsored health insurance: up 74%
* Owning multiple cars: up 52%
* Child care: up 100% +++
* Taxes: up 25%
These are fixed expenses, the ones you can’t avoid. Big, fixed and relentless.
Who profits? Wall Street and the banks, the medical-industrial complex, the oil industry, and the government.
And these numbers are just the tip of the iceberg.
Watch the whole video to get the whole story.
NOTE: Brasscheck TV posted this BEFORE the economic collapse in 2008 and Elizabeth Warren has been warning of this for many, many years.
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