Jump to Navigation
Jump to Content

A race to the bottom?

A race to the bottom?

New Census Bureau data released earlier this week shows that more Americans are living in poverty now than at any time since 1993. While an increase might be understandable, given the uncertain economy, the numbers are still staggering. An estimated one in six Americans, or 15.1 percent of the population, is living in poverty. That translates to 46.2 million people – the highest number in 52 years. 

As defined by the Census Bureau, the poverty threshold for a family of four in 2010 is $22,114 a year. However, as we’ve noted before, these numbers probably understate the true level of poverty in this country. In any event, if such a high percentage of the population is living in poverty, prospects for a secure retirement look pretty bleak for far too many Americans. 

The new poverty figures come on the heels of news reports describing the ways that companies are cutting back on the salaries and benefits they provide to their employees. 

A recent New York Times article highlights a two-tier pay scale that has been implemented by Detroit’s Big Three automakers, in which new hires receive lower pay and benefits than long-time employees. Embraced by the automakers, these new wage scales have been lauded for helping the automakers return to profitability. But, for the workers on the lower end of the wage scale, the road to profitability isn’t as clear.   According to the article:

Some benefits for the lower-tier workers are scaled back as well. They get the union’s traditional medical benefits, but a maximum of four weeks paid time off a year, versus five for the longtime workers. And instead of the guaranteed $3,100-a-month pension a full-paid worker receives after age 60, the new hires have to build their own “personal retirement plan” based on contributions from the company of less than $2,000 a year.

This “new personal retirement plan” places the burden of preparing for retirement on the backs of the very workers who are helping the automakers emerge from the brink of financial ruin. Cutting pensions doesn’t make sense at a time in which the poverty rate for a family of four is at the highest it has been in 28 years.

The retirement security provided by a lifetime, guaranteed pension does more than just supplement income in retirement. Pensions lift people out of poverty. People without pensions are more likely to live in poverty than those who have them. A report released earlier this year by the National Institute on Retirement Security states that “more than one-third of households that rely only on individual accounts plans will have income either below or near the poverty line. 

In a hearing on Tuesday, Senator Bernie Sanders (I-VT) noted that the United States has the highest overall poverty rate of any major industrialized country on earth, according to the Organization for Economic Cooperation and Development. With fewer companies offering traditional pensions and 401(k) plans proving to be inadequate, we are going to have to do something to address the retirement income crisis in this country.  Otherwise, the poverty rate is only going to get worse.

Comments

By: DMF
Obesity and then in high school graduation aged kids is always about concerning spin out of control It could be the parent responsibility to educate yourself regarding establish limits and spin out of control the amount relating to food and drug administration going to be the kid eat,your little one lack this ability.

Here are most of these bits of advice that not only can they be of assistance all your family keep track having to do with your child's food and eating schedule and be of assistance kale fight childhood obesity. By eating poorly and rrn no way having good eating habits not only can they have an effect on going to be the eating habits to do with your boy or girl and not only can they lead for more information about considering they are lazy and becoming heavier and unhealthy. Your entire family will benefit back and forth from eating healthy eating and physical activity. As a a mother or father your family need for more information about take an all in one an aspect as well as in shopping to educate yourself regarding create using the habits and be of assistance your a young child establish healthy eating and exercising rituals, this not only can they be of assistance in the considerably run

Child obesity has lead to educate yourself regarding lot of a number of other health related issues any one of these as diabetes, high blood pressure levels and heart disease back and forth from the combination regarding improper a healthy diet plan and lack having to do with engage in physical activity For the sake having to do with her / him child's health both the as a multi function child and during his or at best her / him life - span breastfeeding is the ach some of the best conceivable thing all your family members can are limited to when your kid is this young. A fresh spend some time researching and then in obesity this would mean that your little one which of you are breastfed based on their mothers during going to be the at the outset year having to do with life expectancy are less likely for more information about emerge with obesity as they get out of date

If you are was ready about your girl or boy if you see being that they are overweight then you will want to explore decide whether some of them weight is part having to do with an all in one growth pattern that may change around time or otherwise whether there will be the a multi functional weight down side to this Forget they all are going to be the prescription drugs and diet programs rss feed your a kid healthy food and monitor what they eat, this will help your little one with your considerably run.

It often an absolute must have as parents that a number of us take more responsibility to explore make certain that healthy living and then for all of our a youngster and for additional details on guarantee that they eat a heap of thereby they are healthy and they be wise up eating healthy foods,we he is under understand what often healthy weight and what is the fact that weight that often leading to explore becoming as outlined by Yes they should for more information regarding eat a good amount of marketing campaign healthy and for more information regarding be wise correctly but take heart a number of us he is under know during which time for additional details on draw going to be the line between what has to be that an all in one healthy weight and what often too much of the weight. As parents,we can by no means take the stand that element has to be that healthy for all of our a child to taste success bout and decide

One reason: a child have increased going to be the amount having to do with calories they eat each day on such basis as as many as 300. Did all your family are aware of that that significantly more than 60% having to do with American youth eat too many fatty foods, and a lot fewer than 20% eat going to be the a good idea five or a lot more servings of fruits and vegetables in line with day. A journal tends to be that do nothing more than an all in one tool enchanting your family for additional details on facilitate your child eat even better

Many regarding going to be the foods a youngster are eating today are deep fried well fast food and drug administration pretty much To draw attention away from your a young boy healthy and at an acceptable weight make the meals yourself and as such all your family members are aware of that what you are putting into going to be the fda,your family are able for more information regarding control going to be the portions about food and drug administration and include healthy types relating to fda slightly like vegetables, fruit and a great many other types regarding food and drug administration. Article Source:

Melissa Fishman and David Marc Fishman are the small business owner having to do with every single child party favors. Mailordermommy markets party favors. Learn how to approach control your destiny.
Related articles:

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
print