No, I never said that but the financial-type experts say about 50% of adults do not have even $6-700 in savings to replace an average main appliance in a house or a transmission, etc.. They live on credit and paycheck to paycheck. I didnt make this up
I would say the lower 50% of wage earning households, which are those making less than about $55K per household in Iowa, are not well off. By the time you take out the house and two car payments, all the utilities, food, insurance, clothes and stuff for the 2-3 kids and a vacation and some entertainment, let alone the $200 a month cell phone bill and the $120 a month internet service bill then they do not have much left. Oh yes and taxes
Much of what you point out above is a behavior issue. People living above their means. It is just how we have evolved over the years. Two car payments, lofty cell phone bills, Netflix, mult other streaming charges, etc. etc.. People can really find savings if they have to out of NEED. We put too much emphasis on luxury items and use too much credit.
People buy too much house or have not had the stability financially to purchase an expensive house. Obviously, this does not apply to everyone but does to many. So, when said couple buys a modest $300,000 home on their $90,000 household yearly income, am I supposed to feel bad for them because they are living paycheck to paycheck or can't afford that new water heater? They didn't plan accordingly for their situation. They weren't proactive for potential issues. But, DAMN, they stayed on pace with the Johnson's or their friends.
Let's examine where the majority of those you describe above live. LA, San Francisco, Chicago, New York, Urban areas in Michigan, pretty much the blue state areas. Now look at where people tend not so be that bad off financially, midwest and western states, Texas, Florida. That's a trend, my man.
Again, much of this is a behavior issue. Not all, but much of it. Again, there is a reason people flock to get over our borders, it's not because they expect to suffer when here.
I don't think you and I are ever going to crunch that gap between us on subjects like this, but I respect your view/opinion and compassion. I enjoy debating you on these kinds of topics.