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The Census Bureau’s annual report on income is out, and “there’s no good news” in it, said Felix Salmon in Reuters, unless you’re “the kind of person who worries about inflation.” Median household income has fallen 3.6 percent, from $52,153 in 2007 to $50,303 in 2008—a loss of “real money.” And 2.5 million more people are living in poverty, including 19 percent of kids under 18. That’s “unconscionable, in the richest country in the world.”
The “big news” from the Census report isn’t the drop in income since 2007, said David Leonhardt in The New York Times. It’s that we’re earning less than a decade ago—median household income in 1998 was $51,295, in today’s dollars. There hasn’t been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. “What’s going on here?” Very slow growth, and the fact that “much of the bounty from our growth” has gone to the very rich.
This leads to a couple observations:
(1) I don't know how much of this was bad luck and how much was bad policy (nobody does), but there's really no getting around the fact that the Bush presidency was an economic debacle. Americans got poorer on his watch. The last time that happened was, well, during his father's presidency. But that one only lasted four years, so it was different.
(2) We sure could use one of those income growth spurts about now. But I don't see any signs of one in the offing. Do you?
and they STILL have nothing better than "trickle down" to offer.
Seriously - is there any doubt in your mind why they lost????
The economy was in shambles and all they could do was to repeat the trickle down mantra ..... sort of like suggesting that brain cancer cures the common cold ........
Has anything ever trickled up to you? I spent 33 years as an independent contractor, and my employees and I always benefited from the work we did for people because they had enough extra to spend to make their own lives better. That made my employee's and my life better by filling each other's needs. That's trickle down for ya son, the same trickle down that the left has ridiculed since Reagan's time.and they STILL have nothing better than "trickle down" to offer.
Seriously - is there any doubt in your mind why they lost????
The economy was in shambles and all they could do was to repeat the trickle down mantra ..... sort of like suggesting that brain cancer cures the common cold ........
What is amazing about the census numbers is that in a collapsing economy, the rich somehow got richer. The rightwingnuts criticize the poor and somehow think that it is the poor who are getting hurt. It is every working American who has less. You pay more for homes, your childs education, energy, healthcare....meanwhile salaries remain stagnant and the rich get richer
Savage calls it "trickle up poverty".
I agree.
While we argue additional tax cuts for the wealthy and the merits of "trickle down" economics a strange thing has happened. The standard of living for working americans has fallen. We make less money than we did a decade ago while the rich have gotten richer
Census: Weâre poorer - THE WEEK
The Census Bureaus annual report on income is out, and theres no good news in it, said Felix Salmon in Reuters, unless youre the kind of person who worries about inflation. Median household income has fallen 3.6 percent, from $52,153 in 2007 to $50,303 in 2008a loss of real money. And 2.5 million more people are living in poverty, including 19 percent of kids under 18. Thats unconscionable, in the richest country in the world.
The big news from the Census report isnt the drop in income since 2007, said David Leonhardt in The New York Times. Its that were earning less than a decade agomedian household income in 1998 was $51,295, in todays dollars. There hasnt been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. Whats going on here? Very slow growth, and the fact that much of the bounty from our growth has gone to the very rich.
While we argue additional tax cuts for the wealthy and the merits of "trickle down" economics a strange thing has happened. The standard of living for working americans has fallen. We make less money than we did a decade ago while the rich have gotten richer
Census: Weâre poorer - THE WEEK
The Census Bureaus annual report on income is out, and theres no good news in it, said Felix Salmon in Reuters, unless youre the kind of person who worries about inflation. Median household income has fallen 3.6 percent, from $52,153 in 2007 to $50,303 in 2008a loss of real money. And 2.5 million more people are living in poverty, including 19 percent of kids under 18. Thats unconscionable, in the richest country in the world.
The big news from the Census report isnt the drop in income since 2007, said David Leonhardt in The New York Times. Its that were earning less than a decade agomedian household income in 1998 was $51,295, in todays dollars. There hasnt been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. Whats going on here? Very slow growth, and the fact that much of the bounty from our growth has gone to the very rich.
the rich get richer because they worke harder and smarter and know what the fuck they are doing.....
the poor....hell you could give each of them a 100k and they would be poor again in less than a year.....
darwinism at work.....or evolution if you prefer....
While we argue additional tax cuts for the wealthy and the merits of "trickle down" economics a strange thing has happened. The standard of living for working americans has fallen. We make less money than we did a decade ago while the rich have gotten richer
Census: Weâre poorer - THE WEEK
The Census Bureaus annual report on income is out, and theres no good news in it, said Felix Salmon in Reuters, unless youre the kind of person who worries about inflation. Median household income has fallen 3.6 percent, from $52,153 in 2007 to $50,303 in 2008a loss of real money. And 2.5 million more people are living in poverty, including 19 percent of kids under 18. Thats unconscionable, in the richest country in the world.
The big news from the Census report isnt the drop in income since 2007, said David Leonhardt in The New York Times. Its that were earning less than a decade agomedian household income in 1998 was $51,295, in todays dollars. There hasnt been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. Whats going on here? Very slow growth, and the fact that much of the bounty from our growth has gone to the very rich.
What is amazing about the census numbers is that in a collapsing economy, the rich somehow got richer. The rightwingnuts criticize the poor and somehow think that it is the poor who are getting hurt. It is every working American who has less. You pay more for homes, your childs education, energy, healthcare....meanwhile salaries remain stagnant and the rich get richer
While we argue additional tax cuts for the wealthy and the merits of "trickle down" economics a strange thing has happened. The standard of living for working americans has fallen. We make less money than we did a decade ago while the rich have gotten richer
Census: Weâre poorer - THE WEEK
The Census Bureaus annual report on income is out, and theres no good news in it, said Felix Salmon in Reuters, unless youre the kind of person who worries about inflation. Median household income has fallen 3.6 percent, from $52,153 in 2007 to $50,303 in 2008a loss of real money. And 2.5 million more people are living in poverty, including 19 percent of kids under 18. Thats unconscionable, in the richest country in the world.
The big news from the Census report isnt the drop in income since 2007, said David Leonhardt in The New York Times. Its that were earning less than a decade agomedian household income in 1998 was $51,295, in todays dollars. There hasnt been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. Whats going on here? Very slow growth, and the fact that much of the bounty from our growth has gone to the very rich.
get used to it, obama has just made it worse, future generations will be slaves just like you wanted. fuck off
Where is the evidence that the rich got richer pray tell? Or was that just another bogus leftist assumption?
By the way the only times in history when the rich haven't getten richer - at least in comparison to the poor - are when no one has crap and we are all starving.
The big news from the Census report isnt the drop in income since 2007, said David Leonhardt in The New York Times. Its that were earning less than a decade agomedian household income in 1998 was $51,295, in todays dollars. There hasnt been such a lost decade in 40 years of Census tracking, and probably not since the 1930s. Whats going on here? Very slow growth, and the fact that much of the bounty from our growth has gone to the very rich.
and they STILL have nothing better than "trickle down" to offer.
Seriously - is there any doubt in your mind why they lost????
The economy was in shambles and all they could do was to repeat the trickle down mantra ..... sort of like suggesting that brain cancer cures the common cold ........
