Kamala vs the Orange Felon - Presidential Race 2024 - Polls, News, Etc...

[[DHT]Osiris]

Renters aren't all broke people that can't save money.

Don't believe the data? Take it up with the Fed.

So the median household income is 75k/yr, 34% are renters, and the median household net worth is almost 200k. Half of all people have 225%+ of the median household income as their net worth. AND have several months banked emergency funds? Shens, shens everywhere.

I bet that's including 401ks and shit. I wonder what that number would be if we didn't look at untouchable illiquid assets.

I also wonder if it's counting stuff like owned vehicles, and what value they're using (new vs blue book vs actual).

 

[Brainonska511]

So the median household income is 75k/yr, 34% are renters, and the median household net worth is almost 200k. Half of all people have 225%+ of the median household income as their net worth. AND have several months banked emergency funds? Shens, shens everywhere.

So you don't believe the data the Fed collects because it doesn't align with your vibes?

 

[Lost_in_the_HTTP]

Statistics are not known for showing the real truth people face in life.

 

[Dave_5k]

So the median household income is 75k/yr, 34% are renters, and the median household net worth is almost 200k. Half of all people have 225%+ of the median household income as their net worth. AND have several months banked emergency funds? Shens, shens everywhere.

I bet that's including 401ks and shit. I wonder what that number would be if we didn't look at untouchable illiquid assets.

I also wonder if it's counting stuff like owned vehicles, and what value they're using (new vs blue book vs actual).

Yes and yes to last paragraphs, basically all assets including home equity, minus all debts. Much or most is not liquid (home equity, 401k, etc.)

Understanding the Average American Net Worth: Insights and Analysis

Explore the dynamics of the average American net worth, including how it is calculated and how different age groups and demographics stack up financially.

www.businessinsider.com

 

[Meghan54]

I bet that's including 401ks and shit. I wonder what that number would be if we didn't look at untouchable illiquid assets.

I also wonder if it's counting stuff like owned vehicles, and what value they're using (new vs blue book vs actual).

Well, hate to say it…but duh. Household wealth would certainly include 401k’s and anything/everything else that has monetary value…

 

[Brainonska511]

Well, hate to say it…but duh. Household wealth would certainly include 401k’s and anything/everything else that has monetary value…

And people at all stages of life.

Statistics are not known for showing the real truth people face in life.

We shouldn't set policy based on vibes alone. If we did, people would be getting their cheap door dash because they think it's a human right to have cheap private taxis for their burritos.

 

[K1052]

We shouldn't set policy based on vibes alone. If we did, people would be getting their cheap door dash because they think it's a human right to have cheap private taxis for their burritos.

People got used to a lot of cheap unsustainable services in recent years that were supported by burning through cash at astounding rates. People are like "Why does Uber cost so much now?" when the reality is that's what it always cost, it was just hidden from you.

 

[K1052]

Trump trying to move the debate over to Fox so he can have it at a rally and Harris not taking the bait. ABC will give the airtime to whichever of them shows up to the already planned debate in September which so far is just her.

https://twitter.com/x/status/1819739826536464876

 

[skyking]

He'll ultimately play a victim card from his infinite stack of victim cards, about that nasty woman forcing him to the debate.

 

[K1052]

lol this ain't the Biden campaign anymore thats for sure

https://twitter.com/x/status/1819750067462402408

 

[pmv]

So despite 34% of US citizens being renters, the median household net worth is almost $200k? I'm calling shens.

Understanding the Average American Net Worth: Insights and Analysis

Explore the dynamics of the average American net worth, including how it is calculated and how different age groups and demographics stack up financially.

www.businessinsider.com

It includes retirement accounts, though. I wonder how much of it that makes up? To spend that money would, I suppose, mean giving up on a livable pension?

Also seems it is much lower for black people (more like $45k than $200k) and for anyone under 45, Not sure if that latter point an effect of age, i.e. how much time you've had to accumulate wealth, or if it's a generational thing, that Boomers got a big boost from property-price increases. Those would be two very different situations, so am curious which it is.

Age	Average net worth	Median net worth
Under age 35	$183,500	$39,000
35 to 44	$549,600	$135,600
45 to 54	$975,800	$247,200
55 to 64	$1,566,900	$364,500
65 to 74	$1,794,600	$409,900
75 or older	$1,624,100	$335,600

 

[Indus]

Smart.

I always thought Biden debating Trump was an unforced error!

Trump trying to move the debate over to Fox so he can have it at a rally and Harris not taking the bait. ABC will give the airtime to whichever of them shows up to the already planned debate in September which so far is just her.

https://twitter.com/x/status/1819739826536464876

 

[Stokely]

Cue all the "mean nasty woman" butthurt comments from the Maga side. Not that I really hear much from them despite living in FL. They are the epitome of "can dish it out, can't take it".

I don't watch debates but someone i know said that the Fox debates aren't really any different or worse than the normal farce they call a debate. Regardless, if he's truly trying to back out of one he agreed to, she certainly should hold him to it and keep calling him a coward.

 

[Brovane]

Understanding the Average American Net Worth: Insights and Analysis

Explore the dynamics of the average American net worth, including how it is calculated and how different age groups and demographics stack up financially.

www.businessinsider.com

It includes retirement accounts, though. I wonder how much of it that makes up? To spend that money would, I suppose, mean giving up on a livable pension?

Also seems it is much lower for black people (more like $45k than $200k) and for anyone under 45, Not sure if that latter point an effect of age, i.e. how much time you've had to accumulate wealth, or if it's a generational thing, that Boomers got a big boost from property-price increases. Those would be two very different situations, so am curious which it is.

Age	Average net worth	Median net worth
Under age 35	$183,500	$39,000
35 to 44	$549,600	$135,600
45 to 54	$975,800	$247,200
55 to 64	$1,566,900	$364,500
65 to 74	$1,794,600	$409,900
75 or older	$1,624,100	$335,600

Historically real estate in the US has been the main way that generational wealth is passed down through families. For African Americans historically they have been denied access to credit to purchase homes because of redlining. This practice has stopped but the legacy impact on this is that African Americans have less generational wealth transfer.

 

[Lost_in_the_HTTP]

Mr. Peanut wants to live long enough to vote for Kam.


"As his 100th birthday approaches, former President Jimmy Carter revealed that his milestone birthday is secondary to being able to vote for Democrat Kamala Harris against Republican Donald Trump in November's 2024 presidential election.

According to a report published Saturday by the Atlanta Journal-Constitution, Carter told his son Chip this week, according to his grandson Jason Carter, "I'm only trying to make it to vote for Kamala Harris."

Carter turns 100 on October 1. The former president entered hospice care in February 2023.

Jason Carter also told the AJC that his grandfather has been "more alert and interested in politics and the war in Gaza" recently."

Jimmy Carter Reveals New Goal Amid Hospice Care

Jimmy Carter's grandson said his grandfather has been "more alert and interested in politics and the war in Gaza" recently.

www.newsweek.com

 

[Brainonska511]

Understanding the Average American Net Worth: Insights and Analysis

Explore the dynamics of the average American net worth, including how it is calculated and how different age groups and demographics stack up financially.

www.businessinsider.com

It includes retirement accounts, though. I wonder how much of it that makes up? To spend that money would, I suppose, mean giving up on a livable pension?

Also seems it is much lower for black people (more like $45k than $200k) and for anyone under 45, Not sure if that latter point an effect of age, i.e. how much time you've had to accumulate wealth, or if it's a generational thing, that Boomers got a big boost from property-price increases. Those would be two very different situations, so am curious which it is.

Age	Average net worth	Median net worth
Under age 35	$183,500	$39,000
35 to 44	$549,600	$135,600
45 to 54	$975,800	$247,200
55 to 64	$1,566,900	$364,500
65 to 74	$1,794,600	$409,900
75 or older	$1,624,100	$335,600

Yes, net worth would include retirement accounts and other illiquid investments. But Fed data also shows the median balance in cash accounts about $8k, and their surveys show a bit more than half claim to have the ability to handle 3 months of expenses with cash savings (that doesn't mean they would *want* to do that though).

 

[sdifox]

It's hilarious to me that USA can't fix its own elections but insists on bringing freedom to other countries.

 

[Lost_in_the_HTTP]

Outside of a weird blip in '00, there really hasn't been an issue with American elections until DonOld didn't get his way and started throwing hissy fits.

 

[sdifox]

Outside of a weird blip in '00, there really hasn't been an issue with American elections until DonOld didn't get his way and started throwing hissy fits.

EC is utterly undemocratic.

 

[K1052]

Outside of a weird blip in '00, there really hasn't been an issue with American elections until DonOld didn't get his way and started throwing hissy fits.

That there has been a mismatch between the PV and EC in two out of the last five cycles is not what I would call a strong argument for keeping it.

 

[skyking]

Much love for Jimmy Carter and his sentiments.

 

[MrSquished]

Renters aren't all broke people that can't save money.

Don't believe the data? Take it up with the Fed.

I mean 100%. I have met more than enough of very wealthy renters in my time working properties. Extremely wealthy.

 

[pmv]

Historically real estate in the US has been the main way that generational wealth is passed down through families. For African Americans historically they have been denied access to credit to purchase homes because of redlining. This practice has stopped but the legacy impact on this is that African Americans have less generational wealth transfer.

Yeah, I've heard that, and assumed that was the reason for the racial disparity. As I say, though, I'm curious, as to whether the variation with respect to age is purely that younger people haven't yet inherited all that property wealth (so they'll have similar assets to the older groups once they age into it), or if it's that younger _generations_ haven't had the opportunity to accumulate it the way their predecessors did (so most of them will never catch up).

Those two scenarios seem to suggest very different futures.

 

[hal2kilo]

Historically real estate in the US has been the main way that generational wealth is passed down through families. For African Americans historically they have been denied access to credit to purchase homes because of redlining. This practice has stopped but the legacy impact on this is that African Americans have less generational wealth transfer.

You'd be amazed at the amount of generational wealth that is going to house people who don't know who they are anymore.

 

[Indus]

Historically real estate in the US has been the main way that generational wealth is passed down through families. For African Americans historically they have been denied access to credit to purchase homes because of redlining. This practice has stopped but the legacy impact on this is that African Americans have less generational wealth transfer.

Yes but it is also true that if you don't have a ton of kids.. each one inherits more. While that was a major factor early on.. those same people are all anti-abortion now..

I wonder why?