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20 Signs That The U.S. Poverty Explosion Is Hitting Children And Young People The Hardest

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20 Signs That The U.S. Poverty Explosion Is Hitting Children And Young People The Hardest - Photo by Franco FoliniThe mainstream media continues to insist that the economy is “getting better”, but the poverty numbers for children and young people just continue to explode.  For example, did you know that the poverty rate for families with a head of household under the age of 30 is a whopping 37 percent?  Children and young people sure didn’t cause our recent economic downturn, but they sure are getting hit the hardest by it.  According to the U.S. Department of Education, for the first time ever more than a million U.S. public school students are homeless.  That seems like an impossible number, but it is actually true.  How in the world could the “wealthiest nation on earth” get to the point where more than a million children can’t count on a warm bed to sleep in at night?  Sadly, a huge number of American children can’t count on a warm dinner either.  About a fourth of them are enrolled in the food stamp program.  What do you do if you are a parent in that kind of situation?  How do you explain to your kids that you can’t afford a nice home like everybody else has or that you can’t afford to go to the grocery store and buy them some dinner?

Young people are experiencing very rough times right now as well.  If you are under the age of 30, it is really, really difficult to get a job in America today.  The competition for the few decent jobs that seem to be available is absolutely crazy.  Unemployment among young people is at a level that we have not seen since World War II, and this is causing major problems.

Even if you do have a college degree, there is no guarantee that you will be able to get any type of a job.  In fact, more than half of all college graduates under the age of 25 were either unemployed or underemployed last year.  There are millions of very talented college graduates that are waiting tables, making sandwiches or stocking shelves down at the local branch of a global retail conglomerate.  Meanwhile, they are saddled with record breaking amounts of student loan debt.

This is easily the worst economic environment that we have seen for young people since the Great Depression of the 1930s.  The number of good jobs continues to decline.  Many young people are faced with the choice of taking a bad job or having no job at all.

If you are under 30 in America today, you better hope that you come from a wealthy family or that you have some really good connections, because otherwise the future looks pretty bleak for you.

The following are 20 signs that the U.S. poverty explosion is hitting children and young people the hardest…

1. If you can believe it, a higher percentage of children is living in poverty in America today than was the case back in 1975.

2. More than one out of every five children in the United States is currently living in poverty.

3. According to U.S. Census data, 57 percent of all American children live in a home that is either considered to be “poor” or “low income”.

4. Median household income for families with children dropped by a whopping $6,300 between 2001 and 2011.

5. For the first time ever, more than a million public school students in the United States are homeless.  That number has risen by 57 percent since the 2006-2007 school year.

6. It is being projected that half of all American children will be on food stamps at least once before they turn 18 years of age.

7. One university study estimates that child poverty costs the U.S. economy 500 billion dollars each year.

8. The 18 to 24 age group has a higher unemployment rate than any other age group in the United States.

9. Young adult employment is now at the lowest level that we have seen since World War II.

10. In 2007, the unemployment rate for the 20 to 29 age bracket was about 6.5 percent.  Today, the unemployment rate for that same age group is about 13 percent.

11. Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

12. Family homelessness in the Washington D.C. region (one of the wealthiest regions in the entire country) has risen 23 percent since the last recession began.

13. Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you account for inflation.

14. In 1984, the median net worth of households led by someone 65 or older was 10 times larger than the median net worth of households led by someone 35 or younger.  Today, the median net worth of households led by someone 65 or older is 47 times larger than the median net worth of households led by someone 35 or younger.

15. During 2011, 53 percent of all Americans with a bachelor’s degree under the age of 25 were either unemployed or underemployed.

16. Many young people are finding that they cannot afford to get married these days.  Sadly, an all-time low 44.2 percent of all Americans between the ages of 25 and 34 are married right now.

17. Right now, approximately 53 percent of all Americans in the 18 to 24 age group are living at home.

18. The number of Americans in the 25 to 34 age group that live with their parents has grown by 25 percent since 2007.

19. One survey discovered that 85 percent of all college seniors plan on moving back in with their parents after graduation.

20. Overall, approximately 25 million American adults are living with their parents in the United States right now according to Time Magazine.

After reading all of those statistics, do you still doubt that America is in decline?  If so, you can find some more shocking statistics right here.

The truth is that it should be painfully evident to anyone with a brain that our economy is not working correctly anymore.  We have lots of talented people, but there are not nearly enough jobs and a lot of those very talented people end up sleeping out in the streets.

A recent New York Times article told the story of a young man named Duane Taylor.  Sadly, there are way too many young people out there today that are experiencing the same kind of things that he is…

Duane Taylor was studying the humanities in community college and living in his own place when he lost his job in a round of layoffs. Then he found, and lost, a second job. And a third.

Now, with what he calls “lowered standards” and a tenuous new position at a Jack in the Box restaurant, Mr. Taylor, 24, does not make enough to rent an apartment or share one. He sleeps on a mat in a homeless shelter, except when his sister lets him crash on her couch.

“At any time I could lose my job, my security,” said Mr. Taylor, explaining how he was always the last hired and the first fired. “I’d like to be able to support myself. That’s my only goal.”

There are millions upon millions of young people in America today that feel totally lost because they cannot find their places in the world.

They are angry, frustrated, depressed, desperate and disillusioned.  They felt like they did everything that the system told them to do, and now they feel like the system is failing them.

An unemployed 2010 graduate of the University of Florida named Lance Fuller expresses similar sentiments on his blog entitled “Voices Of A Lost Generation“…

They are the countless young men and women eager for an opportunity but have found few, if any. They have desirable skills, are highly educated, and are more than willing to work.

Sadly, crippled by college debt and graduated into a struggling economy, they stand little chance to find gainful employment in their chosen fields and take temporary jobs they are overqualified for. They lie waiting for the dream job they went to school for — but it probably doesn’t exist.

My name is Lance and sadly, I share in this story. Like my twentysomething peers, I am one of the thousands of faces of America’s Generation U — Unfortunate, Unlucky, and Unemployed.

I am fortunate that I have never been without money to buy food and have never had to spend a night on the street.  But tonight millions upon millions of Americans under the age of 30 will be faced with those kinds of circumstances.

Please say a prayer for them.  They didn’t cause the economic mess that we are in, but they are certainly paying the price for the mistakes that were made.

Does anyone out there have a similar story to the ones that were shared in this article?  If so, please feel free to share it below.  Perhaps your story will encourage someone else out there who is going through a really hard time right now.

Sad Child - Photo by David Shankbone

  • Red Baron

    I have been homeless and lived in poverty. I was raised in a “middle class” family in the 1970’s. I was also addicted to drugs and alcohol. I was heading to be a major burden to society, or ending up dead. Today, I am a late bloomer. I have recently graduated from college with a degree in early childhood education with a certificate to teach in my state. It has taken me 26 yrs to graduate. I think that I am now in a position to help those that are still in poverty. Poverty is not a bad thing if a person can make changes and learn how to repair things and discover creative ways to make a living.

    • May God bless You.

    • MichaelfromTheEconomicCollapse

      That is an uplifting story. Thank you for sharing that.

      I always tell people that as long as you are alive there is ALWAYS a way to turn things around if you are willing to search until you find it.


    • Hambone

      God bless you, man. Have you ever heard the story of Fr. John Corapi?

      Sadly, I think it takes a positive attitude to climb out the way you did. Thank you for what you do to help others. I talked to a Vietnam vet the other day who said he is still messed up from the war. He has a new lease on life with folks returning from Iraq, helping them deal with what he’s been through.

      I hope there is a special place in heaven for folks like you folks.

    • Mondobeyondo

      God Bless. Keep fighting the good fight.

    • piccadillybabe

      Some people make due on poverty wages and some cannot pay their bills when they make $100K a year. Living frugally, creatively and mindfully can be a path to self-discovery and empowerment. Many people believe if you cannot graduate from college in 4 years, it is a useless degree. Putting all your eggs in one basket is a huge mistake these days. Working towards something for that many years (26) showed how dedicated you were towards your goal of being able to help others. I am sure you will make a difference because you believe in yourself and your mission.

  • bwoboe1

    Here are two issues…

    1. North Dakota is literally overflowing with jobs. You just have to be willing to work long hard hours in harsh conditions, but the pay is good and they need help. If god forbid, I ever lose my Job, I will head to North Dakota and get any job there.

    2. We import MILLIONS of workers from Mexico to do jobs Americans WON’T do. When is the last time you saw an American citizen working in the orchards picking apples or house-keeping at a motel?

    People keep majoring in worthless degrees and then wonder why they can’t find a job in French Art History or Political Science.

    There are jobs out there, so many we import the labor to fill them. How about roll up your sleeves, ditch the cell phone and save up for 5 years working one of those jobs.

    • vuk sandy

      Sadly, ultra-capitalists continue waging war on our middle class with anti-union initiatives like “right to work.” The divide between the rich and poor: a common and ever reoccurring reality in the history of mankind. The main reason for our economic problems here in North America is that governments are run by corporations and the wealthy. Democracy is dead. We should not all have to work as lumberjacks earning menial wages, just to survive.

      • bwoboe1

        I agree! It’s time for the service and retail workers to unionize. Corporations are making enough profit. Time to exercise that most American of rights, the right to assemble and bargain for a contract for your labor. Unions are the capitalist way for a free society to get a larger slice of the pie the help to generate.

        Sadly, most low wage service/retail workers are too ignorant of the power they have, to scared to exercise it, and too trusting that somehow the government will step in.

        Right-to-work has shown us government WILL step in, step in to prevent the workers from getting a contract for their labor.

        • Orange Jean

          Sorry, I think that’s just a way to lose more jobs in those sectors.

          Actually, my salary and cost of living improved considerably when I moved into a right to work state. The reason being the costs of housing in those other states (that was MA & CA) were very high, compared to the right to work states (NC then VA). Also I deeply resented the fact that MA took money out of my pay check equivalent to the cost of union dues and gave it to the union – after I decided to quit the union I had been in because they did nothing for me!

          • bwoboe1

            The problem is, you get all of the benefits the unions have fought for over the years, but then sell out the union by not continuing to support them.

            Now, I’ll agree that manufacturing unions have swung the pendulum too far in the favor of labor, driving off much manufacturing, there needs to be a balance. However, when you have the service/retail industry SUBSIDIZED by the government through working-poor welfare, it is time to make those corporations pay up and stop funneling welfare-fueled profits to the unimaginably wealthy.

            The working poor need to unionize and fight for wages decent enough to live on. Once they have gained enough benefits and healthcare to NOT have to work and be on WELFARE, then the union will have succeeded.

      • Mark

        The unions have priced themselves out of the job market. If you want jobs to come back to the US, union work rules need to go away and wages need to drop to compete. Even if the wages drop a bit ,we need to cut back on the cost of government inorder to compete. Sadly, I doubt that this will happen any time soon.

        • RICHARD

          i keep waiting for them to say they are going to lower the min. wage down to about 5 bucks so they can compete with china, then they might bring the jobs home. Their doing the same things that big corp. were doing for years they would play one plant against another ( it’s called wipe sawing ) now with N.A.F.T.A. they play one country against another. .

          • El Pollo de Oro

            Richard: Playing one country against another is EXACTLY what the globalists are doing. Alex Jones has often pointed that out. If they decide that the slave labor in México, for example, is too expensive, they’ll play Guatemala against El Salvador or Honduras against Nicaragua. NAFTA (No American Factories Taking Applications) was every bit the nightmare Ross Perot said it would be. And if some globalist CEO runs around saying that minimum-wage workers in México are overpaid…….well, he had better treat his bodyguards well because it’s no fun being held for ransom in the slums of Guatemala City.

          • Ralfine

            The Chinese are good at playing one country against the other.

            The french deliver trains to Taiwan, OK, then the next contract goes to the germans. The Germans talk to the Dalai Lama, OK, the next contract goes to the Americans.

            The Americans like freedom? Let’s arrest someone they can buy free from prison with economic concessions.


            The Chinese are better in learning from the West, than the West learning from the Chinese.

            The Chinese don’t complain about their government all the time.

            You can’t change the weather, why waste time talking about it?

            They use their time to talk business and make business.

            Make money first. If the government doesn’t like it, they will send someone to stop you. Until then make as much money as possible and don’t tell anyone how much you make. Get cash, buy gold, store it at home in the public housing estate, where grandma will sit with the phone to call the cousins with the meat cleaver and water pipes, should someone try to force their way into the home.

            Foreign invested businesses have favourable tax rates over local Chinese businesses. So Chinese take their money out of the country in suitcases, found a company in Hong Kong and reinvest the money in the mainland. Then the mainland company is selling the products for little money to the Hong Kong company which is then sellling the products for much more money to Europe or America, depending on the exchange rate between US$ and EURO.

            The Americans in the meantime talk about freedom of speech, and kill each other with their guns. Let them. LOL

        • MWD78

          you just can’t compete with 3rd world slave labor no matter how you try to spin it.

        • The unions created the prosperity America once forced corporations to provide. When slave labor in the third world costs $2 PER DAY just what do you think the unions have to do with jobs being outsourced? You have fallen for the “blame the unions” propaganda multi-national corporations use to drive wages down.

      • El Pollo de Oro

        Vuk Sandy: The BRA could have “right
        to work for less” laws in all 50 states and cut the minimum wage in half, and even that
        wouldn’t be enough to satisfy the globalists. How much of a race to the
        bottom is globalism? It’s such a race to the
        bottom that some companies have moved to México for the cheap labor and ended
        up leaving México for countries with even more poverty (such as Guatemala, Honduras or El Salvador) because they decided that
        México’s minimum wage was too high. Then the globalists are shocked to find out how much violent crime and instability there is in those banana republics and wonder why the CEO’s wife or daughter gets kidnapped for ransom by a gang of thugs (with the blessing of the cops who the thugs have paid off). The globalists just can’t understand why some folks in Third World countries don’t want to do backbreaking work for two bucks an hour.

        • Day2Day

          Pollo: Have you seen the documentary series “Witness” on HBO?

          The level of poverty and corruption in third world countries is astounding… And of course, the civilians are the one’s caught in the middle (Forced to pay extortion money and be exploited)

          Imagine a society, that’s economy is based on drugs, which is run by the drug cartels, and is allowed by the police, because they’re getting a cut, which is controlled by the military, because they are the one’s shipping it in…

          That my friends, is Mexico… Not speaking of the rampant corruption, genocide and human rights atrocities that happen daily in countries all over the world…

          • El Pollo de Oro

            Day2Day: I haven’t seen “Witness,” although from what I understand, it sheds some light on the type of corruption and violence one finds in banana republics. The reality in many banana republics is that if people have a choice between doing hard physical labor for slave wages in a sweatshop or earning a much better living through drug trafficking, kidnapping or carjacking, they’ll choose the latter. People have said to me, “But, you’re from Philly. Could Caracas or Guatemala City be any worse?” Yes, much worse because the criminality is so widespread and permeates so much of society, from the cops to politicians.

            There’s a movie called “Secuestro Express,” which was filmed in Caracas, Venezuela and is about a yuppie couple who go slumming in a dangerous part of Caracas and end up being kidnapped for ransom by a gang of thugs. It’s a trashy exploitation movie (definitely not in a class with “City of God,” “Maria Full of Grace” or “Amores Perros”), yet it does offer some insights into the level of corruption down there. In one scene, the kidnapper thugs let their female victim go after collecting the ransom. Then, when some cops pick her up and are determined to rape her, one of the kidnappers returns and saves her from being raped. The message: in banana republics, the cops can be even more treacherous than the street thugs. And if this race to the bottom continues, that’s exactly how the BRA will end up.

          • You have described what America has exported around the world while pretending to be the good guys and also how things actually work in many cities in America. It just is usually done less obviously in the U.S. and the media doesn’t cover it so the violence isn’t as apparent.

      • DiscouragedOne

        Right to work is a job growth program, not a job killer. Unions are job killers!

    • BlackDog

      The Hispanic influx is nothing compared to the H1-B visas that Obama has freely handed out to anybody who asks for one. In IT for example, IBM has datacenters in Missouri and Colorado, along with Dubuque, Iowa (of all places) that do nothing but train H1-B visa holders in IBM’s technologies. The instructors are American citizens, engineers who have either not realized what they are doing, or have sold out their country and their fellow citizens for the almighty buck willingly. They will train an average of 90 visa holders who then travel back to Islamabad or Mumbai and work virtually, taking jobs in this country away from currently employed IBMers! AND, when the instructors have reached their quota, they are FIRED! Hah!

      You want to talk numbers? During Obama’s first campaign, he stood on a stage with Sam Palmisano, IBM’s then-CEO who stated he would create one million jobs that year. And everybody cheered. The thing is, he never said WHERE those jobs would be. They were in India, not in the US, which was implied by the Obama campaign. Between those jobs and all the jobs lost in IT since that time, Obama’s work-visa policies have decimated an entire industry. Just wait until he gets around to your industry.

      • DiscouragedOne

        So true, we are like sheep to the slaughter.

    • MichaelfromTheEconomicCollapse

      Actually the jobs boom in North Dakota is subsiding. There aren’t as many high paying jobs available up there as there was a year ago.


      • Tim

        I heard the same thing recently.

    • 2Gary2

      Americans will not do the jobs at the low wages employers offer –regarding your orchard analogy.

      There was this d-bag employer complaining he could not find a welder at 9 per hour. He was complaining about this on public radio and the callers ripped that d-bag a new one.

      • bwoboe1

        I know ONE person who is not an immigrant who went to work in the fields. He made $10/hour out there which is better than minimum wage (although still considered working poor) So I don’t feel like the wages are as poor as the service/retail industry.

    • Mark

      Why should an american bother to pick apples when the government will give him or her food, shelter, medical and cash awards for almost free. The work is to fill out the forms and that is eaiser than picking apples.

      • Terry Pratt

        ??? What food and shelter? Childless able-bodied working-age Americans are limited to three months of food stamps every (?) 36 months. Section 8 rental assistance is very hard to get because supply is limited; waiting lists are years long and most of the time you can’t even get on the waiting list.

        • Mark

          We spend somewhere around a trillion a year between the federal and state governments on programs for the poor. Is that enough, too much or just right? What is the upper limit you feel we should spend?

          • Ralfine

            How much is spent to buy weapons, weapons systems, ammo and fuel for wars at the end of the world?

            Shouldn’t those patriots at Lockheed Marietta and Freedom Group work for free instead of making a killing out of taxpayers’ money?

          • Mark

            Ralfine, you are right that we spend too much on weapons. We spend too much on most things. We need to go back to what our Founding Fathers had in mind, a small federal government. If you like big government, have it at the State level. That way we all might get to live in a State where the size and scope of government would be just right.

      • m. hadeler

        You dont know what you’re talking about and yet you will continue to talk.

    • “2. We import MILLIONS of workers from Mexico to do jobs Americans WON’T do.” you meant to say”. We import MILLIONS of workers from Mexico to do jobs Americans WON’T do AS CHEAP AS ILLEGALS.” Lets get starving Africans to work for food, cutting out those pricey Mexicans.Tariffs and real wages will happen after the crash.

    • MeMadMax

      Right now, I would kill to pick them apples.
      The other day I saw an entire road work crew comprised of nothing but mexicans… I was so angry… I could do that…
      But for to even ponder getting a job (here in los angeles) I have to learn spanish… Why should I have to learn a FOREIGN LANGUAGE in my own country in order to work, or be 100% productive/efficient at work???
      The immigrants need to go…

      We Americans need to buck up and do work for a change.
      Also, I too am going to north dakota, homeless and maybe with 20 bucks to my name, in the middle of winter… The only thing that will keep me alive is food stamps, a shovel, a tent, and my intellect…

      • Mondobeyondo

        I would kill to eat right now.

        Does that make me any less than an animal?

        Think about it.

        • MeMadMax

          Ur funny… well… no.. not really…

    • Mondobeyondo

      I don’t know if North Dakota is the right fit for me. I live in Arizona. I’m used to summers when it’s 115 degrees outdoors. 40 below zero would be a drastic change, to say the least. But, I’m willing to work, so… we’ll see.


        Landoll Corporation

    • Ralfine

      How much do these jobs pay? How much is accomodation, food and transportation? Probability of accidents, how about medical treatment?

      Why I’m asking:

      What’s the point in working for $10 a day when driving to work costs you $12?

    • Rachel

      I so call your bullcrap. First of all, who do you think harvested the orchards before the mestizos invaded? Who do you think cleaned houses and hotels? Many blue collar white Americans did! Mestizos drive down wages which is why only 3rd world aliens do that type of work. The other day my apt complex was being painted and all the painters were mestizo. Up until the early 90’s I always saw mostly caucasion painters. Look you obviously have an anti-white American agenda.

  • vuk sandy

    “How in the world could the “wealthiest nation on earth” get to the point where more than a million children can’t count on a warm bed to sleep in at night?”

    And yet we always hear the mantra “Greatest nation on earth.”

    How do we judge what makes a nation great or the greatest? Size of army? Number of nukes? Total GDP? For me, it seems the Scandinavians have it right. They willingly and joyfully pay higher taxes and have more programs to address the needs of the poor. Perhaps our trillions dedicated for space exploration and corporate bailouts would be better earmarked for serving our poor people living in puddles in our major cities, helping our middle class survive, and for our children.

    • MichaelfromTheEconomicCollapse

      Not socialism at all.

      There is a big difference between a group of people sharing things with one another and the government massively redistributing wealth.

      And under socialism those that are “giving witness to the resurrection of the Lord Jesus” are very much frowned upon.


    • 2Gary2

      simply look at where the USA is on the best nation to be born in–#19. The more socialist Scandinavian countries are on top. Michael would know a socialist if they hit him in the head. He thinks Obama is socialist when Obama is to the right of Nixon. Given how much money the corporations are sitting on and the ultra low tax rates on the rich I would say Obama would be a pretty poor socialist.

    • Mondobeyondo

      Would be interesting to see how many “poor” people are in the Scandanavian countries. How many homeless people are there in Sweden?

  • Day2Day

    What is it going to take?

    How powerful can MSM (Mainstream Media) and Amreican Idol really be, to have such a grip on the American psyche…

    What is it going to take for people wake up, rise up, and take action!!!

    Aren’t you all sick of being broke??? I know I AM! and it’s time to do something about it…

    The words from the wise (Boomers) is “Get a job, any kind of job” and so we try, and we when we say, but the low paying service job I have, doesn’t even fill up my gas tank… They just shrug and give you a blank stare…

    It should be obvious to anyone right now, that the economy has not been getting better and there are no signs of it EVER getting better…

    So what can we do? Well, start by spreading the word (Facts/stats), get active in your community, write your senators and congress people, participate in town hall meetings, organize/participate in NON-VIOLENT protests and demonstrations.

    Please, EVERYBODY it’s time to do something… Unless you want to end up like Tijuana, Rio de Jinero, Sudan, etc…

    The choice is ours!

    • Hambone

      You’re right, but it’s easy to be despondent. I think this election and all of the hope of getting Oblamer out of office took the wind out of a lot of people’s sails… I know it did me.

      It’s not an excuse, but I must confess I have turned my attention toward insulating my family from the trouble to come.

      That, and praying I don’t lose my job.

      • DiscouragedOne

        I hear you, I have started stocking up more than ever.

    • MichaelfromTheEconomicCollapse

      Great comment. But will the American people ever be united enough to take action?


      • Day2Day

        I honestly don’t know Michael… But if we ever want to have a chance, then we need to first and for-most, repent of our sins, accept Jesus Christ as our Lord and Savior and turn our hearts to God…

        Everything else (Morality, values, a strong economy, etc…) Will follow…

        I mean, doesn’t it seem strange, that the most prosperous and individualistic moral times of this nations history, is when the Bible and Christian values were front and center.

        And for all of those who like the racial inequality argument, I do not live in nostalgia but for every step forward, we take 3 steps back… The civil rights and women’s rights, were great achievements in our culture, it’s just sad that they’ve have been used as a scapegoat for all of our social problems of the present…

      • asketh

        No they will not, why do you think they changed immigration laws in1965? And when that wasn’t working well enough opening the borders to illegals and giving amnesties. It’s called divide and conquer and it works every time. You have been had and now you finally realise it when it’s too late, fool!

    • liberranter

      What is it going to take?

      How powerful can MSM (Mainstream Media) and Amreican Idol really be, to have such a grip on the American psyche…

      What is it going to take for people wake up, rise up, and take action!!!

      Brain transplants on an impossible scale. Nothing else.

  • 2Gary2

    progressive budget: Tax the rich:

    The bill adds the following tax brackets:

    • $1-10 million: 45%
    • $10-20 million: 46%
    • $20-100 million: 47%
    • $100 million to $1 billion: 48%
    • $1 billion and over: 49%

    It also taxes capital gains and dividend income as ordinary income for those taxpayers with income over $1 million.

    • MichaelfromTheEconomicCollapse

      If you made that much money would you be excited to pay those rates?


      • 2Gary2

        yes and these rates are way lower than in the past. Stop shilling for the rich. They have 80% of the wealth and income so they should pay at 80% rates. Michael–If I made enough money to worry about those rates I would be thrilled as I would be rich. I would love to have to be in that tax bracket.

        • Mark

          Gary, has rate inflation gone hyper this week? Last week you wanted to tax at a 70% rate and now this week the rate is 80%. What will the rate be next week, 85 or 90%? When does the wealth tax start on what I have earned in when I was younger that I saved for my old age.

          • 2Gary2

            TOP tax rate, marginal rate not on everything.

          • Mark

            Gary, it only took 12 hours for you to inflate tax rates from 80% to 91%. That is hyper-inflation of tax rates.

        • Viper

          Those high taxes work so well in Europe. Asia has lower rates, stronger economy.

          • 2Gary2

            and way more people in poverty and a degraded environment. Asia is hardly something to hold up as a good example.

          • Viper

            More poverty then Greece, Spain, Portugal? Not places like Singapore, Taiwan, South Korea.

          • JustanOguy

            @52085bb0e78e991d8e4ebabd883789c2:disqus — Gary does not get out too much.

        • 80% of the wealth and income so they should pay at 80% rates.”
          “The rich will simply leave if taxed too much.With internet ,location is irrelevant. 10% flat tax for all people and businesses ,no deductions for ANYTHING.Cut military spending in half and a simple tariff schedule.BUT it wont happen (pre-collapse) as lobbyists run it all.

          • 2Gary2

            I do not believe the they will leave line. Where are they gonna go? Somalia?? no taxes there except the dpdddt pollo talks about.

          • JustanOguy

            Plenty of places to go… You obviously don’t get out much.

          • Mark

            Since the rich have so much money and power, what is to stop them from buying another country and forming their own government with low taxes.

          • 2Gary2

            more power to them, however, their wealth stays in the USA. Look at the d-bag John Mcafee who renounced his citizenship to avoid taxes and now he comes crawling back when Belize is investigating him for murder. I doubt the rich “will leave” as you suggest. The other first world countries will tax the more.

        • MichaelfromTheEconomicCollapse


          Would a 90% federal tax rate be too high?


          • 2Gary2

            91% TOP RATE would be good. Worked in the past and would work now. You still did not answer my question about being happy to pay high tax rates as that would mean I am rich.

        • JustanOguy

          @2Gary2:disqus — The problem with your reasoning is that you really do think more money going to the District of Corruption is going to help anything.

          1998 Federal Budget was $1.7 Trillion and today it’s $3.8 Trillion….. and you really think sending D.C. even more money is going to stop the decline?

          It’s just going to be even more Crony Capitalism where the few benefit…

    • bwoboe1

      I wrote to my senators and congressmen saying if they are going to keep the income tax it should be Gross Aggregate income tax, based on ALL forms of income, no matter the source.

      People would still invest because earning dividends off of stock doesn’t take any actual work. The payoff is still worth it.

    • Viper

      Won’t even put a dent in the deficit.

    • JustanOguy

      Taxing capital gains and dividend income (double taxation) at even higher rates only encourages more money to leave the U.S. to be invested elsewhere. There are numerous countries that don’t even tax capital gains and dividend income.

      Once again Gary… you are ill informed in the way your opinions have been formed. The Federal Budget in 1998 was $1.7 Trillion and for 2013 it’s going to be $3.8 Trillion for a 124% increase.

      It’s not a revenue problem… it’s a spending problem.

      The United States was CLEARLY better off in 1998 before the Federal Government got out of control. All you are supporting is even bigger Government and even more draining of money from Main St. while the ultra rich corporations and individuals continue to move their money off shore….. and not invest in Main St.

      • 2Gary2

        don’t fall for the double taxed right wing crap. many things are “double taxed” My paycheck is taxed and then when I purchase something I pay sales tax so by that definition we are all double taxed. You need to put things in context as opposed to the fox news sound bite conservatives are so good at throwing out.

        Stop shilling for the 1% with the double tax crap. They should be triple taxed.

        • JustanOguy

          Whatever…. capital gains and dividends are already taxed 15%.

          And your sales tax…. that’s to your local Government…. Not the Federal Government.

          No shilling going on here Gary…. I’ve helped numerous working class people have a future with my degree in Finance and I shun Wall St. / the Big Banksters… and the Washington District of Corruption.

          I also shun people who think they should get money for nothing and those that don’t want to sacrifice anything.

          Sending in more money is not going to solve ANYTHING.

          • 2Gary2

            they need to be taxed as the income they are. If labor is taxed at 35% there is no reason to favor capital gains over labor income, unless you are shilling for the Paris Hilton s of the world who just collect dividends and cap gains as us common folk pay 35% on labor income.

            The whole issue with finance is trying to get money from nothing,

          • JustanOguy

            And if somebody loses $100,000 from investing their money and putting their capital to work?

            What should they pay in taxes?

            You make it sound like that when somebody invests their capital (which often puts people to work) and takes a risk… they automatically get paid.

            Funny…. When I lost over $100K the year of the tech bubble crash…. Nobody bailed me out and all of the capital gain taxes I paid before they were set at 15% was not refunded to me.

            Capital gains for lower income people is 10% BTW. Everybody can benefit if they want to sacrifice / save their money instead of spending it on a bunch of junk.

            Except for your crony friends and overpaid bureaucrats in Washington D.C. of course.

            While you are mentioning the Paris Hiltons of the World …. why don’t you mention John Kerry and Theresa Heinz who hide behind worthless charitable trust funds and pay themselves a killing to run it?

  • MichaelfromTheEconomicCollapse

    What level of taxation would satisfy you Gary?

    Should we take the rich 100%?


    • 2Gary2

      if need be yes. If they are so smart and deserving they can make it back again. Oh wait–they are not 1000 of times more smart and productive than their workers so maybe they would not be allowed to earn obscene wages at the expense of their workers.

      • 2Gary2

        Michael–Your shilling for the rich and defending the 1% so vigorously is a new low.

        • MichaelfromTheEconomicCollapse

          I am not defending the 1%. I am just wondering how high you are willing to go.


          • Mark

            Michael, Gary is very hard to pin down as his answers change every hour. I have been trying to get straight answers for a while now. He is doing better as he does not seem to be swearing as much, that is a good start.

          • 2Gary2

            michael–still waiting about your comment on me being happy to pay a high tax bracket as that would mean I am rich.

            I suspect you will not comment as you know I am correct.

      • Mark

        Gary, get your brain on straight man, I worked darn hard as a plumber. My body in worn out and you want to take all that I saved for in our old age? This sounds like you want to round up those of us with some wealth and toss us in the garbage heap or prison. You know, we are people too. What has made you so harsh and angry towards people that have worked hard for many years. I like to use some of what I worked for to give to charity. I you have you have your way, there will be no more charity, just a government slug deciding who gets what. Is this really how you want the world to be Gary.

        • 2Gary2

          yes if you are rich then you need to pay your fair share so others will have the same opportunity you had that this country provided–schooling, rule of law etc.

          • Mondobeyondo

            Oh dear. Isn’t the whole idea of capitalism having your own land/business, etc, and being able to use your skills to profit from it? Taking 100% of those profits would be ludicrous.

          • Mark

            Gary, how much wealth do you need to be concidered rich?

          • 2Gary2

            this is easy–look at the IRS tax info–if you are making over 100,000 you are in the top 10%. If you are at 250,000 you are in the top 5%. These are a good guide. My numbers may be off a hair as I am doing this of the fly but I am pretty close.

  • markthetruth

    1 thing that sums it up for me is

    is at the store’s i shop for food and other things i see the Santa’s ringing their bells but no one putting anything in the pot. now i see them playing trumpets and other things and still nothing , the well off on their phones walking right by. Our society is not coming together everyone feels bad about what happened in Newton but reality is everyone is out for themselves greedy.

    One other issue is that people pay with plastic and don’t carry coins and small bills making even harder for a cause to collect money.

    the end.

  • LMAO at shmuck libs like you

    • 2Gary2

      ah yes such witty and intelligent insight from you conservatives. This is why we are winning elections.

  • BeenThere

    What suprises me is that as bad things get for the average American, they still do not consider revolution or rioting such as in Europe. Is it they are hanging on in there hoping it will get better soon or that no matter how poor they are, they consider themselves still in the middle class?

  • Mondobeyondo

    “Get a job”… I would if I could, but I can’t, so… and besides, there are no jobs. So there.
    “Drive a taxi”… um, yeah. I’d have to work three shifts at Discount Cab to pay my bills. At that rate, I’d be better off buying a fleet of cabs. Maybe, if the company doesn’t lay me off, I could upgrade them into limousines in the future, and start my own valet company. Just like the Monopoly board game! Ha!

    The world is slowly coming apart, and watching the events of last Friday, Gerald Celente may be right. “When people lose it all, and have nothing left to lose, they lose it!”

  • Jared16

    Hey Michael, I got nothing but the highest praise and respect for you and the work you are doing on our behalf! However the rich and big corporations are a big part problem. Their greed can be immense and they could care less about the masses. They do not need to pitied for paying higher taxes! There is a class warfare going on, and the common people have been loosing big! How much more can we allow the wealth gap to grow? Until we are just of bunch of poor serfs serving the rich and powerful for mere crumbs? Isnt it just great that a million children are homeless while the CEO of oracle make $ 937500 hour/ 7,500,000,00 million dollars each day, 7 days a week!

    • Mark

      Tell me sir, just who is going to tell that rich man that is sucessful the amount of his or her compensation. Will a government slug tell someone what they are allowed? Where will this government slugs power stop? A better way to put a stop to this wealth inequality is to not buy a company’s product and then they will not make so much money That is a system where you have power if enough of you, the customers decide with your wallet.

      • Jared16

        There you go! People such as you defending the outrageous salaries of the fats cats and not caring about the plight and pain and misery and death of the millions of down and out homeless people!

        • MeMadMax

          Even if you did tax the crap out of them, they would just fold up the circus tent and leave… they have the money to do it, ya know…
          What then? Before, you had a country full of rich and poor people, after, it would just be poor people…

          • Jared16

            Believe me, I met a few rich people and most of them are so cheap and greedy that makes me want to throw up! These type of people would not give a beggar a dime if the guy was starving to death in front of them! On top of that they use every trick in the book not to pay their fair share of taxes while mine are taken right our my weekly paycheck. So they can leave just like they are leaving France! Good riddance!

        • Mark

          I am not defending their outrageous salaries. I am stating the better way to change the situation. Do you really want a government slug to have the power to control your pay? Where will this power stop? With the NDAA now the law, will you be labeled a terrorist if you make a lot of money? I defend freedom. That is what our country used to be based on.

    • MichaelfromTheEconomicCollapse

      I am not defending the big corporations. In fact, in one of my recent articles I stressed the need to reduce the power of the big corporations.


  • Tosheba

    The young seem to believe they ‘know it all’ and have ‘golden judgement’; they voted for Obama, en masse, TWICE. Take your freaking medicine.

  • 2Gary2

    They (congress/senate/president/) ALL lie, lie, lie to get elected. Because their top priority is to
    continue in their cushy jobs where they have access to all kinds of
    goodies the ordinary American voter does NOT have. ALL politicians are
    basically interested in protecting their own welfare, not our’s. No
    wonder USA is number 24 in world on list of countries with CORRUPT
    governments. We are not even in the top ten of least corrupt
    governments. PATHETIC.

    Instead of penalizing the elderly, how about taxing every stock
    transaction 1/50th of cent?? That would bring in billions and maybe
    trillions of income to the Fed. Wall street is the only “business
    environment” that doesn’t have any sales tax on it’s money transactions.





    That was easy. But it would take b@ll$ to propose this… And pass this legislation.

    Who amongst the politicians of this Banana Republic country has them???

    • Mark

      Gary, stop and listen to what you just wrote. You state that they are all corrupt or lie, but at the same time you scream that they should raise taxes on many people. If you let them steal more money, they will have more power to have a more goodies for themselves. This does not make sense.

      • 2Gary2

        Ok Mark I guess you got me on this one. I think we need to replace the “they”(congress) with people who represent the average person and not the 1%

      • JustanOguy

        @disqus_PBfOaIIqXN:disqus — I’ve been trying to get this point across to Gary for quite some time now. Good to see that you pointed out the flaws in his thinking.

        Gary — You have to clean out the corruption before you can make progress for the people. Sad thing is though… you Progressives keep electing the cronies into office (Nancy Pelosi and numerous others) that are part of the problem and not even close to ever being the solution.

        RINO’S are also guilty… namely the War Profiteer Representatives.

        Personally… I just say push Washington D.C. over the cliff and let’s start over mandating that anybody running for office has a cap on what they can spend in their campaigns to get elected to help insure that elected officials are actually representatives of “The PEOPLE” and not Corporations / Union puppets.

        Because right now… it’s more about who has the most money to get elected.

        And where do they get that money from?

        • DiscouragedOne

          And the salaries and “benefits for life” government workers get, especially Congress, need to be cut drastically! They are supposed to be servants of the public, but they only serve themselves!

      • DiscouragedOne

        Exactly, they don’t deserve one red cent more until they reduce their OWN salaries and cut spending. The more they get, the more they spend.

  • ken nohe

    Subject is redistribution (between generations) Comments are about tax redistribution. But the more you redistribute the larger the government become but the less wealth is created. What we are currently stealing from the U generation is not money but hope and future and without that, how long will it go?

  • liberranter

    The mainstream media continues to insist that the economy is “getting better”

    Once again, anybody who would believe ANYTHING spewed forth by an organ of the MSM deserves to be isolated permanently in a padded room. Such people are too stupid to be trusted with moving about freely, as they are at risk of fatally injuring themselves.

  • LazyIke

    This all got started with the trade deals starting 20 years ago. It placed American workers in competition for the lowest common denominator of low wages. Then incomes started going down and the tax receipts to support Medicare and Social Security started to decline. That is why they are in trouble. Then state income taxes started to decline and the schools and state pensions systems were in trouble, all the while the CEO salaries went up 20 times. At the same time the US allowed low skilled and uneducated illegal immigrant labor to flood the market with the remittances going out of the country while the social welfare costs escalated. That is why the economies of the Rust Belt along with their state budgets are in trouble , along with California. The USA needs a labor denominated tariff and to seal the border. Short of that, things will get worse for the middle class.

  • MeMadMax

    lol, tax the rich? They will just take their money and leave just like they did in France…. They got the money to do it…. what, did you think they would willing give you all their money? Would you?

    • Martin 0002

      Gary is probably aware of that, so I believe that he would like to make socialism global, just to make such scenario impossible. However he doesn’t understand that such a plot would result in North Korea implemented on global scale with dozens of millions (if not more) dying of hunger each year. Socialism/progressivism in long run doesn’t work. It is utopia. If you don’t benefit of your work, you don’t do anything above minimum to survive (because all excess government will steal), you don’t care about tools allowing you to do said work (because they are not yours) and you are also conspiring to con the system somehow, often by illegal means. There is also another possibility: you are becoming to be a government parasite, try to join an inner party and live in luxury pretending that you are doing something good for masses. But really all what you do is building private railways for yourself, private lanes on highways, drink wines worth $$$$$ a bottle and f***k new and new prostitutes (trained to do good job by The State, btw), very much like Kim Jong Il & Co does or like Mao Zedong did. That is what socialism *really* is about.

      • 2Gary2

        you make the same mistake as many others–the scandavian countries are just more socialist. Noone is advocating communism or a north korea style of anything.

    • 2Gary2

      the data show that the rich do not leave as you suggest. That is just another tired old conservative talking point not backed up by facts.

      • MeMadMax

        Uh huh. The guys in france and greece are leaving hand over fist and buying up property in the UK… measurable, and real….
        Try again socilistard…

  • Martin 0002

    Poor as these youngsters are, but often they have mainly themselves to blame.
    Many got lured into false beliefs in “independence”, refused to obey mom & dad before financial stability was achieved and got burnt.

    Many others were fooled by silly approach to education.
    Instead of learning something useful they have decided to become archeologists, equine psychologists, anthropologists etc, often with an aid of student loan.

    Yet another bundle have fallen victim of “sexual freedom” and is now facing consequences like broken relation followed by eviction (no marriage, hence no right to stay in property after relation breakdown or/and no money to pay rent).
    On the top of it unwanted pregnancies/children of origin which is impossible to establish (just too many partners to remember even half, all within last month).
    Quite often to add insult to injury these youngsters are also carrying various STD-s (including AIDS) etc.

    It is also common to find out that these peoples are doing quite much NOT to help themselves.
    For example girl from the photo looks quite sympathetic and someone would probably take her (unless she is already psychologically damaged beyond repair).
    But girl with 2 big dogs is really too much.
    So they all have to stay on the street.

    • Orange Jean

      Actually, I think the person at the top… (with the 2 dogs) is a “man”, not a woman. I can’t imagine someone with a Rasta “do” getting a job, just looks like they’re advertising they’d rather smoke pot than work.

  • Jodi

    I know a family right now that is young but not under the age of 30 who is going through tough times. They really have never had much but since they both lost their jobs last year it has been tough. 4 mouths to feed & feeling like their is no hope. It’s time to gather & help our friends in need. There doesn’t seem to be a whole lot of love out there anymore and I believe that love is the answer that will unite us again. So please, if you can, help out you’re friends in need this Christmas season.

  • Karl

    And it will get worse….

    • Mondobeyondo

      Yes, it will. Brace yourself. This ride is a looonnnnggg way from being over.

  • Mondobeyondo

    Well, since the world is coming to an end tomorrow (according to the Mayan calendar), let me offer this opportunity to thank y’all (yes, all y’all) for putting up with my rants and ravings. Hope we’ll be okay as we make it into the afterlife. BTW – I’ll post another missive on Saturday.

    Okay, now that that’s out of the way… *sigh*

    There will be no solution to the fiscal crisis. Why? Politics trumps reality. Obama and Boehner may be fathers, and they may care about our country, but first and foremost, they are politicians. They will do anything to please their lobbyists and special interests.

    That’s why you will NOT see any significant change in gun control in the U.S.

    The N.R.A.(National Rifle Association) owns them. President, Congress, Supreme Court, and so forth.. Pretty good chance they -the NRA – funded at least a part of Obama’s campaign. Gun control? Don’t bite the hand that feeds you.

    My 17.3 cents (adjusting for inflation. Hehehe!)

    • Orange Jean

      Hey Mondo –

      So I’ve got a new career idea for ya, if you decide not to look into that job in Kansas someone just told you about! Become a comedian?! You do have as sense of humor I appreciate… and you know, Charlie Chaplin got his start during the Great Depression.

      I’m going to spend tomorrow night vegging out on 2012-end-of-the-world movies… and maybe call my brother who flew from NH to Hawaii on Dec 31, 1999 (over the Pacific at midnight, he got a great deal on his flight!)

      Hang in there and don’t give up (I got laid off in one of the last big recessions and it took a long time to find a new job, but being stubborn and keeping looking eventually I found something).

      • Mondobeyondo

        Thanks Orange Jean!

  • Mondobeyondo

    Can’t wait to see the new university clothing line…
    “I spent $125,000 for my degree and all I got was this stupid T-shirt!”…

    • El Pollo de Oro

      Mondobeyondo: Ha ha! Good one!

      Yeah, I think that student loan debt is going to be one of the nails in the BRA’s coffin. Part-time jobs at the dollar store aren’t exactly conducive to paying off six-figure student loan debts, and there are numerous college graduates out there who owe 100-125 grand and have no hope of paying it back—which will ruin their credit and push them even deeper into the hole.

  • JustanOguy

    In 1998 the Federal Budget was 1.7 Trillion. For 2013 it’s $3.8 Trillion for a 124% increase.

    In 1998 the Avg. Personal Income in the U.S. was $27,258 and in 2011 it was $41,560 for a 52% increase.

    In 1998, the Avg. Personal Income for somebody living in Washington D.C. was $36,503. In 2011 it was $73,783 for a 102% increase.

    In 1998, Avg. Personal Incomes in Washington D.C. were 33% higher then
    the Average U.S. Personal Income. In 2011 they were 78% higher.

    How’s that Big Government thing working out in helping the poor??

    Not so well…..

  • Mondobeyondo

    Thoughts and Stuff Such As… Before the World Ends Tomorrow:

    Dear Santa,
    I’d like to have a girlfriend as hot an an Arizona summer.
    Can you put her under the tree?
    In my bedroom would be better, but, well, you know…

    It’s like that’s not ever gonna happen.

  • Mondobeyondo

    Not if you’re prepared to rock out with your Glock out.

  • Mondobeyondo

    Darn! I’m still here! I was expecting a meteor shower would have wiped out all life on Earth by now. Oh well. The fiscal cliff still looms…and I guess this won’t be “the year without a Santa Claus”.*

    * – I had to pay the folks at Rankin-Bass to post that. Actually, no, I didn’t. But, It’s still one of my all time favorite holiday specials along with “A Charlie Brown Christmas”.

    • Alasha

      lol… just keep asking someone with a gun to shoot to take me outta my misery…. on 2nd thought…. gulp!!

  • Lucille rothstein

    Just because they went to school doesn’t mean they are bright. If anything the past 10 years or so should have been a wake up call to any one with any common sense of where things were going. I see a lot of young people go to university, paid for by dad and mom at about $45,000 a year. I also see these same young people drunk every weekend and blowing off their education during the week. I see all the cheating that they do to pass exams. Unfortunately I also see them do immoral acts with professors that are just as creepy for taking advantage of this situation. This nation is filled with people that graduate from these schools and they expect things to come into alignment for them easily. Now these things are getting harder because their is nothing for them to come into. Everything has gone overseas, and the employers are noticing that the caliber of students coming from these schools has fallen dramatically. They are better off doing business in other nations. They are better off hiring young people who are truly intelligent from other nations that are developing and creating a society that is productive and moral. Good luck to young people in America, this nation is not coming back. It is a dead and unproductive society that we have left behind for them, nothing good will come from America, probably never will for a long time, and if anything is left that was good it will dissipate and become a faded memory like everything here. Again good luck.

  • Shelly Belle

    What jobs in my area that were not sent overseas was outsourced. I know many people in my area who were willing to work for less pay just to keep their jobs in the tobacco fields and at the local factories. No they were not union workers, as this is a right to work state. It’s just that the employers never bothered to ask them. I’ve worked many of the so called nobody wants jobs. Chopping peanuts in 90+ degree heat was as normal to me as a teen, as video games were to those my age at the time. I grew up poor and without gov. assistance. So having it hard is nothing new. I’m thankful after losing my job last year, to be able to go back to my family’s small farm. I’m also thankful to be able to have a chance to go to nursing school. I can only hope and pray for things in this country to turn around, but I have my doubts. I wish those in my generation (25-35) grow up and make better choices for the future of our children and grandchildren, instead of living for the here and now. It’s hard for one to gain common sense if it was never there in the first place. God bless you all, especially the veterans and thank you for your service.

  • John Doe

    At the very bottom of this page, next to your copyright notice, it reads ” If you came here looking for hope, you just found it.” What a laugh. Your site is the last place I would look to for hope.

  • bwoboe1

    The question is, what WILL start to fix the disparity between the 1% and the 99%? because we do not have a capitalist society, instead a corporatist society which has used government to secure their wealth, I see the only option for the people to level the playing field is through taxation of the benefactors of the corporatist system.

    Many decrying Gary seem to think we are living in a capitalist society where everyone has an equal opportunity to become ultra-rich. Unfortunately the deck has been stacked against the common man, and the powers that be have a vested interest in keeping the have-nots divided so they may continue to horde their amassed wealth.

    This blog has talked about the invasion of corporatist fascism in this country, but won’t take the step to tax the benefactors of this corporatist corruption.

    What pray tell then, is the answer? We are well on our way to the 0.1% and the 99.9%

    • 2Gary2

      you probably articulated this better than me. Thanks.

      BTW–Government works extremely well for the 1%–hell they got a billions dollar bailout in less than a week so there is obviously plenty of money.

  • DiscouragedOne

    Exactly, unions don’t HELP workers, they HURT them, that is why Right to Work is good, it gives workers a choice to opt out.

  • piccadillybabe

    There is a reason why they are practically making flu vaccinations mandatory for women of childbearing age and with healthcare covering less and less, IVF will be prohibitively expensive for most couples wanting a family.

  • Rick Carrey

    Whoever complaining about the immigrants (by the way, who are the real americans? The native americans, and NOT the current ones who are against the recent immigrants) and loss of work have to think again about frugal living than living on credit cards, willingness to do any type of job and willingness to learn continually, rather than invading other countries for oil for selfish benefits etc. GOD bless America.

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