Today I heard that every American lost $70,000 income due to the 2008

[BigmanPigman]

financial collapse. Ali Velshi is a financial pro and he said this on MSNBC today. If everyone basically is $70,000 poorer due to this, how much of a toll does the current tax cuts for the rich (adding to the national deficit) cost each of us? Does anyone know the answer to this question yet?

[MANative]

1. I lost a whole lot more than that.

[BigmanPigman]

2. Bill Maher said a few weeks ago that he lost

tons due to Bear Stearns investments.

[MANative]

3. I lost about half that amount in investments...

And four pending client contracts worth at least $160k that were canceled. Came within ten days of losing our house (after months of negotiation with our lender), if it hadn't been for another contract that came through at the last minute. It was a horrible time.

[lapfog_1]

4. The interesting stat from this

If you spread the entire $21T national debt over the population of the US evenly... we each owe like $66,000 or $4K LESS than what we have lost/will lose due to the 2008 financial meltdown.

[yallerdawg]

5. I think at the time of the financial bailouts with OUR money...

every family in America would have received $50,000 cash - and we could have got together and started our own little local banks if we wanted to.

Instead - we just got the debt.

[BlueTsunami2018]

6. I lost much more.

I was out of work for 19 months because of the Bush depression.

[BigmanPigman]

8. Teachers in my district had 13 years of lay-offs and pink slips

from 2000-2013. Salary increases in our union contracts were not given for over 5 years and some were forced to take early retirement. This effected everyone's pensions permanently by cutting them by 25%. Those still teaching were told to be grateful that we had jobs (you know teachers are lazy, greedy babysitters...at least that is what the GOP tells us constantly).

[PoliticAverse]

7. Funny how people don't count the money they made because of the bubble. n/t

[tirebiter]

9. I lost $1/2M in 2001

Bush has ownage on both crashes. The there's the lost work hours because of Enron...

[BigmanPigman]

10. Agree 100%!

[JayhawkSD]

11. Let's not forget that it was Clinton who signed repeal of Glass Stegall.

Before you start flaming me as a right wing troll and a Drumpf supporter, I am neither. Voted for Obama twice. Just pointing out that nobody's skirts are clean in the enrichment of the upper class.

[A HERETIC I AM]

15. Let's not forget the 106th Congress was majority Republican

And Clinton signed that law because they would have over ridden his veto

https://en.m.wikipedia.org/wiki/106th_United_States_Congress

[JayhawkSD]

16. Your own link refutes that claim.

It shows the Senate as 46% Democratic, and the House as 48% Democratic, more than sufficient to prevent the override of a presidential veto.

Additionally, Robert Rubin and Lawrence Summers, who served under Bill Clinton, were two of the leading advocates in modern history for loosening of economic regulation and were, between then them, the prime drivers of the repeal of Glass Stegall.

Bill Clinton was an enthusiastic supporter of the reduction in economic regulation.

[A HERETIC I AM]

17. Then I stand corrected

I was clearly misinformed

[Farmer-Rick]

12. So where did the $70,000 per person go?

[BigmanPigman]

13. To bail out the lenders I assume.

Obama had to try to save the country from a major depression. Some people wanted to let the greedy banks and hedge funds fail. People got mortgages with $0 money down and it all collapsed.

[Mad-in-Mo]

14. I lost at least $56,000

in wages --- lost my job of 25 years in January 2009, and took a new one in March paying much less. The difference in wages is for 9 years is $56,000+.

[Hotler]

18. It makes my head hurt to think....

the DOJ can find enough wrong doing to drag the likes of a Manafort and Cohen before the courts but, couldn't find enough to charge the Wall St. fuckers with jay walking. Now I'm pissed again.