francoHFW
Diamond Member
If you listen only to the GOP propaganda service, you live on an imaginary planet...Pure obstruction like we've had from the GOP the last 35 years... They got their tax policy under Reagan and have done nothing but obstruct progress ever sinceAlready the richest country in the world, the United States reached its highest cumulative wealth ever in 2013. It ranked fourth in the world in wealth per person, with $348,000 for every American adult.5 Charts That Show How the Middle Class Is Disappearing | BillMoyers.com and our median American continues to get screwed.
But the average American wouldn’t know it. Thanks to economic policies that favor the super-rich and fuel inequality, the typical US adult’s total wealth is $31,688 — not even close to $348,000. And things aren’t poised to change: The median household brought in $51,939 in 2013, a real dollar increase of just $180 from 2012. This recent income stagnation came in the wake of a steep drop from 2007-2011 (mouse over the graph to see data):
Middle class Americans are feeling this income squeeze. One way to see how the middle class is faring is to break out the middle 60 percent of the population. The share of total national income going to this chunk of the population has decreased steadily since the 1960s and currently stands well below 50 percent:
As the middle class share dwindles, it’s harder for typical Americans to put anything aside. Remember how the United States ranks fourth in the world in wealth per-person? When the same report ranked each country by its median wealth, the US dropped to #21. Which means middle-of-the pack Americans have far less to their names than middle-of-the pack Australians (or Japanese, or Canadians, or Spanish, or Austrians…)
Why didn't the magic negro fix it?
So you don't mind GOP tax rates raping the non rich and the country for 35 years? Super dupe.
Written on March 28, 2011 at 12:08 pm by elfish
The Demise of the American Middle Class In Numbers.
Filed under Economicsno comments
The Demise of the American Middle Class In Numbers.
Over the past 35 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 = https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 = Clipboard01.jpg (image)
2 – http://www.whitehouse.gov/omb/blog/09/04/27/CongratulationstoEmmanuelSaez/
3 = http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 = U.S. Bureau of Economic Analysis (BEA)
4 = Federated Prudent Bear Fund (A): Overview
4 = The Fed - Financial Accounts of the United States - Z.1 - Current Release
5/6 = 15 Mind-Blowing Facts About Wealth And Inequality In America
Overview = http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts
Show me where the Pubs blocked a Dem attempt to fix the problem you speak of, you can't just throw a bunch of shit against the wall and say "SEE". You didn't address my question, I won't allow you to obfuscate.
Lefty logic seems to fail.
