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Title: Nearly half of Americans have less than $500 in savings: Survey
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URL Source: http://www.presstv.ir/usdetail/268369.html
Published: Oct 23, 2012
Author: http://www.presstv.ir/usdetail/268369.ht
Post Date: 2012-10-23 21:04:23 by tom007
Keywords: None
Views: 317
Comments: 10
Nearly half of Americans have less than $500 in savings: Survey Tue Oct 23, 2012 5:54PM GMT Got five Benjamin Franklins stored under the mattress? You're doing pretty good then. Nearly half of Americans don't have more than $500 saved up, according to a recent study by CreditDonkey.com, a credit card comparison company. Of the roughly 1,100 Americans polled, 41 percent reported having less than half a grand of readily-accessible savings at hand. With the country struggling to recover income lost during the recession, the study isn’t the first to make clear the desperate state of so many Americans' finances. Back in March, it was estimated that less than a third of American workers had savings of $1,000 or less, according to a study by the Employee Benefit Research Institute. That lack of savings means most Americans have little in the way of a backup plan when things get tough. Indeed, over two thirds of Americans live paycheck to paycheck, a survey by the American Payroll Association found last month. Perhaps that explains the retirement anxiety, which has begun to afflict some people still in their thirties. Many Americans have even more pressing concerns: 45 percent told CreditDonkey.com that they fear they’ll never be able to save much money at all. Huffingtonpost.com AN/DB
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#1. To: tom007 (#0)
Dear God.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken Lets see now, the other half of that equation is this, Six members of the Walton clan possess more wealth than the bottom third of Americans, that is...one hundred million Americans. Thats quite a few. Solution? This should be a lesson to those at the bottom, work harder , work longer, smile, work for less money and perhaps two more Waltons can be billionaires.
That's a good lesson, OM. I believe it was Andrew Mellon that was enraged at Henry Ford for paying workers a living wage. Mellon said this, "the common working man has no need for money, all he needs is some kind of shelter and enough food so he can work".... Too many people do not realize that ALL WEALTH ORIGINATES AT THE BOTTOM AND FLOWS UPWARDS. Labor is the source of all wealth. Walmart gets their goods on the cheap from near slave labor in China, raking in a good profit. To double the profit they pay no more for labor than the law requires. Its a win win situation for the Waltons.
Yes, thank goodness we have $750 in the sock drawer. Ha on those poor people. Like Cynicom and Turtle. This blows my mind. I see all these Infiniti's/M-B's/BMW's/Audi's/Big Trucks running around North Texas and I just know that they can't be living solely on the edge of a credit card.
#2. To: tom007 (#0)
Nearly half of Americans don't have more than $500 saved up,
#3. To: Cynicom (#2)
This should be a lesson to those at the bottom, work harder , work longer, smile, work for less money and perhaps two more Waltons can be billionaires.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#4. To: Esso (#3)
#5. To: Lod, cynicom, turtle (#1)
Dear God.
"Satan / Cheney in "08" 
#6. To: tom007 (#0)
Nearly half of Americans don't have more than $500 saved up, according to a recent study
-Alex Kurtagic
#7. To: Cynicom (#4)
You were close. It was Andrew Carnegie who was enraged at Henry Ford. But, Americans can see the wisdom of savings. They can earn a robust return on their money somewhere in the ballpark of 1%. Romney promises not to tax that earned interest. He'll get the money some other way. What really chaps my hide is the number of folks, many on forum, who think the average worker is getting more than a fair shake when getting paid the lousy minimum wage. They have the same mentality as the " Waltons" without the billions of dollars. The people earning minimum wage are living high on the hog. Each state should set their own minimum wage like the state minimum in Texas which is around 3.50 an hour. /sarcasm I believe it was Andrew Mellon that was enraged at Henry Ford for paying workers a living wage.
#8. To: tom007, Cynicom (#5)
I own my own business and to get it off of the ground I moved into the back room and slept on the couch. Sometimes I stayed with a friend and very often with my girlfriend. But all my personal mail was sent to my business for quite a while. Yes, thank goodness we have $750 in the sock drawer.
Women’s liberation is freedom from the authority of men. Men’s liberation is the freedom from responsibility to women.
#9. To: ambi (#7) (Edited)
I stand by this: Labor productivity since 1985 has increased about 36% and of that wealth nearly all of it has gone to the 1% of 1%. Real wage earnings in the US are now where we were in 1972, and the financial situation of the X generation is horrible. If this is capitalism, I am all for something else. What really chaps my hide is the number of folks, many on forum, who think the average worker is getting more than a fair shake when getting paid the lousy minimum wage. They have the same mentality as the " Waltons" without the billions of dollars.
"Satan / Cheney in "08"
#10. To: tom007 (#9)
Real wage earnings in the US are now where we were in 1972, and the financial situation of the X generation is horrible. If this is capitalism, I am all for something else. You are so right about the labor productivity and the fruits of it going to the 1%. Americans work longer hours and recive less time off than most of the workers in the industrial countries. Of course, it is our own fault in a way. We have been dumbed down, brainwashed, and taught that unions and union wages are sinful. You can check it out! Our country was at its zenith when the work force was primarily union. If the employers didn't share the "profits", strikes ensued. Everything decent in the workplace and what benefits we Even when Henry Ford started to pay his workers $5 dollars a day, it was the workers wives who had enough of 10/12 hour work days with barely enough pay to run a household. Henry, after much thought, came to realize a well paid worker could afford to buy one of his automobiles. ...and another thing, American businesses paid a hefty tax and those companies grew to be the General Motors, General Electric, U.S. Steel, and many many others. Now there are individuals making in the neighborhood of 50/75 thousand dollars who pay more taxes than those corporate giants. We can also thank the capitalists for corrupting our political landscape just as sure as Monsanto is poisioning the fields annd the food supply with their genetically modified garbage. I don't blame you for being diillusioned with capitalism!!!!!!!!! Labor productivity since 1985 has increased about 36% and of that wealth nearly all of it has gone to the 1% of 1%.
had have left did not come from the employers being generous and nice guys.
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