United States Economy Status Overvalued

As the reasons of residence, the economic situation of the Chinese American population significantly overstated. Quality of life of many ethnic Chinese are significantly lower than the white middle class, and even some Chinese houses were repossessed, hard-earned money in vain. Deterioration of the Chinese immigrant families, including low-income and middle-class outlook is bleak, much-needed community, government and various services of common concern, effective help.

The financial crisis to trigger a global economy led to the Great Depression, which directly bring disaster to ordinary people find since 2008 the gap between rich and poor widening poverty and the problems in a large country like the United States has almost become a catastrophic phenomenon of power.

U.S. Census Bureau on September 23 the U.S. economic status disclosure annual survey report shows that in 2009 Obama’s first year, the overall U.S. poverty rate has risen to 14.3%, number about 43.6 million; the equivalent of every seven Americans have one of the poor. September 28 to the latest census data shows that in 2009 the richest and poorest widened the income gap and a new record. Annual income of more than 100,000 U.S. dollars covering almost 20% of Americans last year, half of all U.S. personal income, 20% of the lowest income Americans received only 3.4% of total income. The ratio of these two figures is 14.5, more than 13.6 in 2008, almost historical low of 7.69 in 1968 nearly twice as much.

U.S. wealth gap among all Western developed industrial countries is the highest. National income inequality is growing. This inequality as tax policy, “the strong take-all” model of pay system, unequal employment opportunities for all sorts of irrational factors widening.

Perhaps the Chinese-American or Asian population’s poverty rate is lower than the average of 14.3%, but the Chinese population trapped in poverty in real terms is less than this figure. Although the statistics of the Asian population in 2008 poverty rate was 11.8%, lower than 13.2% of all Americans; 2008, average household income of Asians 6.5637 million, higher than the national average of 5.0303 million, also higher than white families The average income of $ 55,530, but the surface of the high household income of Asians is limited by many factors.

As the problem of Asian Studies, Professor of Sociology Weihui Ying pointed out that the reason the place of residence, economic status of Asian Americans were greatly overestimated. Most Asians live in New York, San Francisco, Los Angeles in 12 big cities, median household income levels and consumption of the already high. Furthermore, relatively large Asian families, small businesses have the highest percentage of those operating the family business in general, several or all family members are all involved in, working long hours. Perhaps they and a lot of money, but the wages per capita or per unit of time is very low.

To the San Francisco Bay Area, for example, after the Chinese family actual income and expenditure levels, as occupation, residential area, children’s education and other factors vary widely. For example, with a high level and high-tech city in the Chinese technology company serving an average of up to six-figure income, if a couple are working, their household income higher than the middle-income families with annual income of the nation’s second triple, or even higher may be . Chinatown in San Francisco or any other community in the old and new small businesses like restaurants, to make a living by working, not only the poor working conditions, treatment is very low, 6 days a week, and even harder to guarantee a minimum salary, the monthly wages of only 900 yuan a lot of people, even if both husband and wife working two jobs to fight this, household income is difficult to achieve the bottom line for middle-income families, it is difficult to maintain adequate food and clothing. However, in the Silicon Valley Chinese American families have paid, in the face of millions of dollars at every turn over the housing market, the face is not thin their children’s education tuition expenses, excluding the bulk of the monthly mortgage and a variety of tax, insurance expenses, and its disposal Income has also been minimal. No wonder many Chinese families is so not like the white families, big budget set aside each year for vacation and leisure purposes, their quality of life in fact much lower than the white middle class.

On the other hand, in the Silicon Valley, Santa Clara County, where two years of recession since the number of up to 10 million unemployed, the unemployment rate over 12%; with nearly 12,000 families make ends meet because of unemployment or can not repay, the bank recovery of the auction houses have lost their homes. Reduced number of foreclosures in the door of no fixed home, also began to show Chinese owners of the figure. They, or the reduction in income due to unemployment and other reasons, or because of speculative real estate is “stuck”, in short, their houses have become “soaked house”, in addition to foreclosure can almost do anything to reduce some debts. Some people accumulate more than ten years hard working hard-earned money, or even result in vain, only call nonetheless.

High unemployment rate, poverty rate and an unprecedented gap between rich and poor, apparently marked the administration’s performance had a negative stigma, will directly affect the November 2 parliamentary elections, affecting the choice of whether Americans still maintain Democrats will dominate Congress and even the White House. Whether or not to terminate the implementation during the administration of former President Bush’s tax cuts, that Obama advocates for less than twenty thousand dollars in personal income or annual income of families below $ 25,000 continue to enjoy tax cuts, or promote the implementation of Republicans, including the rich All persons, including tax cuts, seem to have the means or the temporary solution, difficult to change the current reality of U.S. high wealth gap. Living in this difficult pattern of optimism, the deterioration of Chinese immigrant families, including low-income and middle-class outlook is bleak, vulnerable communities, governments and various service agencies concerned to effectively help.

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