fill you in on what? which part?
The change in plan. I havent heard.
With the Obama economic plan I am finding I need to work more to make less. Time is 1. becoming a factor.
Did it ever dawn on you that your sorry plight is largely a result of the Republican war against the middle class? The rich got considerably richer under W. Obama was left with an incredible mess not easily cleaned up.
Did it ever occur to you that your fact are....not facts?
You see, Obama is "the incredible mess."
" The rich got considerably richer..."
Not any moreso than any other group.
1. Aside from this downturn in the economy...which will be corrected once the nation throws out this miserable imitation of leadership known as the Obama administration, the populace will continue along the upward economic trend.
2. Mathematics is a factor in understanding the economy: one must understand that any
average, or mean, of incomes in the top 20% will always be much higher than the median income in this group, for the simple reason that the top group has no ceiling…i.e., it is everyone with incomes above the 80% percentile. Of course, this description can be applied to any “top” group…1%, 5%, etc.
a. The median will consequently always provide a much more accurate reflection of the typical income earner in any top income group than any average or mean. So,
changes in the “average” incomes of a top group are always misleading, and greatly exaggerates the level of typical income of top income groups.
b. “Mean income for the top 10% is about two-thirds larger than median income…” Reynolds, “Income and Wealth,” p. 21.
c. According to Federal Reserve data regarding incomes of different subgroups, the average or mean income of the top 10% households
seems to increase much more from 1989 to 2004 than the average or mean of the next highest 10%, or of any lower income group. This would lead one to believe,
mistakenly, that income inequality is growing, with the rich getting rich faster than any other group.
But when the more accurate median income is considered,
the income of the top 10% grew virtually at the same rate from 1989 to 2004 as the bottom 20%, and as the second lowest 20%. Reynolds, “Income and Wealth,” p. 20-21.
3. Similarly, changes in
the bottom limit, or threshold, of any top income group appears to be rapidly increasing the top groups income…when in reality, it is the increase of the group below the top that has the benefit.
a. Thus,
as the incomes of those in the second 10% grows into the top 10%, we must now add incomes of those from the next group below. This makes the
higher level appear to grow, while the lower group adds lower income earners in order to have the proper number to make 10% of the total. The effect is due to increase in incomes below the threshold!
b. In this case the average of the top 10% is being ‘pushed up’ from below by rising numbers of folks whose income has increased, with them leaving what had been a ‘middle class income’ and joining the ‘ranks of the rich.’
c. Example? The top fifth of household incomes began at $68,352 in 1980 (in 2004 dollars). But by 2004, the incomes of so many in the second 20% had increased above the former $68,352 threshold that the top 20% of earners
now started at $88,029 in 2004! Therefore, if one calculates the mean average of all the incomes above $88,029 in 2004 it will be considerably higher than if you averaged all the incomes above the $68,352 as we did in 1980.
The essential point is that this statistical effect does not mean that the rich are getting richer…it means more people are getting rich, and reflects the rising general prosperity!
4. Now, don't you wish you listened to your folks and graduated from high school rather than running off to join that commune in Montana??
Understanding math might have helped you understand how you were being manipulated by Leftist propaganda!