badsector
Active Member
Posts: 235
Posted: Tue Jan 03, 2006 2:30 pm
Well, in my humble opinon middle income earners are screwed just as much as low income ones.<br />
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Imagine, that you are a middle class parent and raise your kids. You are not elligible for subsidized daycare because of your income. Either one parent stays home with the kids or you pay $150-200 a week (per kid) for daycare. Later, when they grow up you have to pay cash for their higher education because your income disqualifies them from assistance by OHIP. Of course, you say those middle classers should shut up, they have it too easy. Well, middle classers struggled through college or university, worked evenings part time, struggled to get an entry level job and struggled more to advance in their careers. Eventually bought a house in a subdivision and got trapped in financial obligations. Where I live you can pay over $3,000 a year in property taxes even for a modest townhouse and over $5,000 for a single family home. The property taxes go up double digit every year. It's like paying rent in your property, plus paying the mortgage, utilities, maintenance, etc. If mortgage rates go up, you may have to dish out hundreds of bucks more every month for mortgage. The same time you know that if you lose your job you have to sell your home quickly because you can only go for so many weeks wihout a steady income. It takes longer to find a well paying job then a lot of middle classers could afford to keep their homes.<br />
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Good jobs are getting harder and harder to come by. Manufacturing is going to China, IT and engineering are going to India. Well paying jobs are often outsourced. Wages in many occupations are in a free fall. Middle classers carry more and more wait, until this whole craphole of an economy comes crashing down. Yes, it's tough to be at the bottom, but then at least you have less to lose.