Discussion in 'Politics' started by get_involved, Aug 24, 2012.
Eroding middle class falls to 51%, survey finds - latimes.com
The worst economic recession in history results in only $3469.00 loss over 12 years ?
Another prime example in which to choose from that trickle-down economics DOES NOT WORK. Add to that that David Stockman, the architect for trickle-down bs AND worked under Reagan's cabinet, now denounces this experiment that never worked.
There is little indication in the study that a loss even occurred. The median is not the average, it is the mid point for income, meaning that 50% of the group made more than the median, and 50% of the group made less.
Since a larger portion of the group moved up out of the middle class, and a much smaller group moved down out of the middle class, the median income had to drop, even if all other members of the group stayed the same.
And, if housing prices took a tumble, guess what? The net wealth also takes a tumble.
Their figures may be correct, but their conclusions are garbage.
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