America’s wealthiest families smash income ceiling, middle-class left far behind

[SteadyMercury]

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans.

How does really rich people having even more, while middle class have about the same, equate "turned into a nightmare" for these middle class people?

All of us (well most of us) either have been or are currently middle class, was it really a nightmare experience for you?

 

[OnePercenter]

IMO The American Dream was always a myth, but now it has turned into a nightmare for 47% of Americans.

How does really rich people having even more, while middle class have about the same, equate "turned into a nightmare" for these middle class people?

All of us (well most of us) either have been or are currently middle class, was it really a nightmare experience for you?

It is a nightmare for the majority of the middle class. Republicans/corporate America/wall street have made it so.

 

[SteadyMercury]

It is a nightmare for the majority of the middle class. Republicans/corporate America/wall street have made it so.

Oh bullshit. Claiming most middle class Americans are living in a nightmare is nothing more than silly hyperbole.

 

[bripat9643]

What do your employees do?

Build and maintain radio (cell/repeater) transmission sites.

Not exactly a job for minimum wage employees, is it?

 

[francoHFW]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

 

[francoHFW]

It is a nightmare for the majority of the middle class. Republicans/corporate America/wall street have made it so.

Oh bullshit. Claiming most middle class Americans are living in a nightmare is nothing more than silly hyperbole.

See if you can spot the trend, dingbats:

The Demise of the American Middle Class In Numbers.

Over the past 60 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:

1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.

Over the past 63 years worker productivity has grown by 2.0% per year.

But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):

1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%

A 13% drop since 1980

2. THE TOP 10% GET A LARGER SHARE.

Share of National Income going to Top 10%:

1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%

An increase of 16% since Reagan.

3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.

Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:

1980 = 10%
2003 = 56%

A 5.6 times increase.

6. AND THE AMERICAN DREAM IS GONE.

The Probably of Moving Up from the Bottom 40% to the Top 40%:

1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%

A 10% Decrease.

Links:

1 = ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 = 404
1 = Clipboard01.jpg image
2 – Congratulations to Emmanuel Saez The White House
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis BEA
4 = http://www.prudentbear.com/index.php/household-sector-debt-of-gdp
4 = FRB Z.1 Release--Financial Accounts of the United States--September 18 2014
5/6 = Wealth And Inequality In America - Business Insider

Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts

 

[Toddsterpatriot]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

 

[OnePercenter]

Oh bullshit. Claiming most middle class Americans are living in a nightmare is nothing more than silly hyperbole.

Here ya go dumb-ass.

When you read the 36 FACTS, keep Republicans/corporate America/wall street in mind.

36 Facts Which Prove The American Dream Is Turning Into A Nightmare For The Middle Class - Business Insider

 

[OnePercenter]

What do your employees do?

Build and maintain radio (cell/repeater) transmission sites.

Not exactly a job for minimum wage employees, is it?

Not at my company, but there are some that do.

 

[SteadyMercury]

Here ya go dumb-ass.

When you read the 36 FACTS, keep Republicans/corporate America/wall street in mind.

36 Facts Which Prove The American Dream Is Turning Into A Nightmare For The Middle Class - Business Insider

Hah hah you dug up something from May 2011 by that dude who runs the economiccollapseblog to support your ridiculous claim that half of all middle class America is living in a nightmare? I'm almost embarrassed for you, this is cringe-worthy.

You do realize that dude has been making money off of spamming non-contextual lists pointing out doom and gloom since the great recession, yet only true retards (like you apparently) still cling on his every data point?

Among the "facts" you just used to support your nonsense:

- The average price of a gallon of gasoline in the United States is now up to $3.91 a gallon

- Inflation in New York City was high in 2011

- Over the past 12 months the average price of gasoline in the United States has gone up by about 30%

- Spending on energy now accounts for more than 6 percent of all consumer spending

- The average American driver will spend somewhere around $750 more for gasoline in 2011. Unfortunately, it seems likely that the price of oil is going to go up even higher


Way to use relevant current facts to prove your point man! Bravo!

 

[SteadyMercury]

blah blah gap blah share of wealth blah

Someone else making more money doesn't equate to a nightmare, unless you define nightmare as synonymous with envy.

Real household income is higher across the board compared to 20, 30, 40, 50 years ago across all income groups.

 

[SteadyMercury]

Here is what you drama queens claiming half of America is living a nightmare should do, go start a poll.

I'm sure most posters on this forum are middle class, ask them if they are living in a nightmare financially. I bet the majority of people answering affirmative will be right wing types who are answering that way just to blame it on Obama.

 

[francoHFW]

Looks like a nightmare to me, even before Boooshies wrecked the world. Great job, Reaganists!



3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.

The savings Rose up to Reagan and fell during and after.

1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)

A 12.3% drop after Reagan.

4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.

Household Debt as percentage of GDP:

1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%

A 45% increase after 1980.

From link last page.

BTW, those bottom four lines are all losing money in real terms. The average only goes up because the richest are making out.

 

[francoHFW]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

Still too low, and only for those making over 400k. And of course, their effective rate is under 20% duh.

 

[Toddsterpatriot]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

Still too low, and only for those making over 400k. And of course, their effective rate is under 20% duh.

Of course 39.6% is too low. All earnings belong to the government, after all.
Kill the greedy kulaks, eh comrade?

 

[francoHFW]

Brainwashed functional moron^^

 

[bripat9643]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

Still too low, and only for those making over 400k. And of course, their effective rate is under 20% duh.

Of course 39.6% is too low. All earnings belong to the government, after all.
Kill the greedy kulaks, eh comrade?

Only a welfare sucking parasite believes 39% is not enough of your income for the government to confiscate.

 

[Toddsterpatriot]

Brainwashed functional moron^^

But enought about you.

 

[francoHFW]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

Still too low, and only for those making over 400k. And of course, their effective rate is under 20% duh.

Of course 39.6% is too low. All earnings belong to the government, after all.
Kill the greedy kulaks, eh comrade?

Only a welfare sucking parasite believes 39% is not enough of your income for the government to confiscate.

If they actually paid that much lol, not under 20%...or the same as the rest of us- and getting 95% of the new wealth.

 

[francoHFW]

OP- This is just a continuation of Reaganist tax rates and policies that have ruined the norich for 30 years-see sig-, and which the greedy idiot GOP defend to the death.

Obviously a top rate of 39.6% is just like Reagan's top rate of 28%.

You're just a little smarter than algae.

Still too low, and only for those making over 400k. And of course, their effective rate is under 20% duh.

Of course 39.6% is too low. All earnings belong to the government, after all.
Kill the greedy kulaks, eh comrade?

Only a welfare sucking parasite believes 39% is not enough of your income for the government to confiscate.

Idiotic hateful Pubcrappe, as always.