Friday, October 24, 2014

Middle Class Is Getting Poorer

Middle Class Is Getting Poorer, Middle Class, pay increase

The Middle Class has felt the brunt of the financial crisis, they are heavily taxed and don't have any handouts like the poor. While the 1% gets get even richer by squeezing the middle class with their overpriced products and services. People in the middle class are not rich, nor poor. They have income and some savings. Expert says that the middle class is gauged by having the median household income of $51,939 annually so it is safe to say that a family who is in between the 25th percentile and 75th percentile can be considered as middle class.

In 2013, the income of the median U.S. household was $51,900, it has not changed from 2012. If you adjust it for inflation it is 8% lower than in 2007, before the recession began. It has not increase since the recession ended in 2009.

If you can save 1/3 of your income after food, mortgage or rent, utilities, and grocery bills you can consider yourself a middle class.

The middle class has certainly changed, their purchasing power is decreasing, WallSt Cheat Sheet listed 7 items that the middle class can no longer afford.

1. Vacations - middle class can no longer afford to have a vacation, they would have to sacrifice something just to have it. Statistics shows that 54% of people gave up purchasing TVs or other electronics items just to go on a vacation.
2. New vehicles - with the high prices of new cars and trucks today the middle class simply cannot afford them.
3. Pay off debt - a lot of middle class workers are having difficulty paying off student loans, mortgages, car loan, and medical debts.
4. Emergency savings - emergency funds are put up as a safety net to protect our finances if we found ourselves out of work, medical expense, or other events that can leave you bankrupt. Most middle class today don't have 6 months emergency fund, and others have no emergency funds at all.
5. Retirement savings - Social Security is not enough to cover basic needs which is why this is really important to have a retirement fund however, middle class just can't afford to save  for retirement.
6. Medical care - According to Feeding America, 66% of US family had to choose between paying for foodstuff or to pay for medical care, while 31% say they have to make that choice each and every month.
7. Dental work - U.S. Department of Health and Human Service said that about 108 million individuals in the U.S. don't have dental coverage and even those who are covered are having trouble getting the care they need.

Friday, October 17, 2014

Health Worker From Texas Isolated on Cruise Ship Possible Ebola Case

Texas Health Presbyterian Hospital

A Texas Health Presbyterian Hospital health care worker who is involved in the handling of clinical specimens from now deceased Ebola-infected patient Thomas Eric Duncan is on a cruise ship in the Caribbean. The health care worker is now isolated and quarantined for monitoring for signs of Ebola according to the State Department.

The State Department added that the person has been self-monitoring and he has not yet develop a fever nor any other symptoms associated with Ebola.

The question is what is he doing on a Cruise ship? 

Friday, October 10, 2014

Obamacare Cancels Almost 20,000 Kansas Health Care Plans

Obamacare, ACA

Sen. Pat Roberts, R-Kan., released a video titled "AN INTERESTING QUESTION" were he exposed his opponent, independent Greg Orman. On the video it stated that 20,000 Kansans lost their insurance because of Obamacare (Affordable Care Act.)

On the video is shows Greg Orman shaking hands with people and one man ask him about Obamacare if he will support repealing it but Greg simply said "that’s an interesting question" and then ignores the man completely.

Walmart to remove health insurance for 30,000 Employees

Walmart, Walmart insurance, Obamacare

Walmart said that they will be cutting the health insurance coverage for their part-time workers like what other small businesses are doing. Walmart is the United States' largest private employer. This sad news will affect 30,000 employees of Walmart and is a result of increased healthcare costs because of the Affordable Care Act or Obamacare. This will be implemented on January 1, 2015, they will stop offering insurance to employees working less than 30 hours a week.

Sally Welborn, Wal-Mart’s senior vice president for global benefits said that "The cost of Obamacare were significant and led us to make some tough decisions."

The trend of companies cutting benefits to cut cost and save money is a concern, base on a survey from Towers Watson, 12% of companies are planning to bar healthcare coverage of spouses with similar aims to cut costs.

Francis DeYoung retired insurance professional and consultant with the Small Business Association said:
“There is such a big cost factor involved. When you are looking at a family plan and you have got to provide coverage for even 4 or 5 employees, it is a big number. There is so many uncertainties in the future and these businesses are scared to death.”

So are you still happy with your Obamacare?