Florida tops the list for income disparity, not surprisingly

http://www.aol.com/article/fin...study-finds/23821815/

As politicians fight over who cares about the "little guy"more, the U.S. Census Bureau has found that income inequality is worse than it's been in 50 years. Not only that, but this is the first time any change in the metric has been statistically significant since 2013 and it's for the worse.

The data comes from the latest American Community Survey report, which collects information similar to what's in the census about income, race, age, and more but does so annually rather than every 10 years. Its most recent release found that the gap between America's richest and poorest households was "significantly higher" in 2018 than it was in 2017.

Counterintuitively, the gap has risen despite the fact that the median wage in the U.S. is higher than ever, per the Census Bureau. The problem is that the gains are not equal. In addition to disparity on the state-by-state level, there is also a huge difference based on race: For Asian households, the median income was $87, 243, while for white households, the median income was $65,902. For black households the number dropped to $41,511, per the North Carolina-based Jacksonville Daily News.

Florida-based economist Sean Snaith told Time that the salary contrast between the Baby Boomers, who are near retirement, and early-career workers who are millennials or from Gen Z, is hard to balance with policy. "A wealth tax isn't going to fix demographics," Snaith told the magazine. Old people have been in the work force a longer time then millennials. That extra time in the work place has enabled the old people to gain experience, work their way up the corporate ladder and so garner a higher paycheck. FLORIDA not surprisingly has a larger elderly workforce skewing the income disparity for the state.

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Equality is unimportant. People care more about how they are doing. And everyone is doing better. Our poor are richer than 60% of Europeans. Indeed, a grand 1% of people rate inequality as an important problem. This is a made up thing by progs.

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I :heart; Q

Counterintuitively, the gap has risen despite the fact that the median wage in the U.S. is higher than ever, per the Census Bureau. This is NOT counterintuitive, The MEDIAN WAGE IS HIGHER THAN EVER. The rising tide HAS LIFTED EVERYONE UP. EVERYONES wages are higher. IF, I am college educated and have been working in the industry for 30 years I am going to be making more money than a new hire with a high school diploma. A %25 raise to a high schooler just entering the work force might only be $100 a paycheck. A %10 raise to a 30 year middle management might be $200 a paycheck. The GAP in real money expands even as both parties get raises and the lower paid employee gets a much higher percent raise. Nothing counterintuitive about it, it is easily understood if you look at the facts. The WAGES are higher than ever, rejoice therefore....

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No war but class war

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

The median is not an average, and is heavily skewed by all of the growth in the investor sector. Working Americans are not benefiting from Fed monetary policies (perpetual bailouts) and constant tax cuts for the "job creators." Wages for working Americans are lowest in 50 years, relative to cost of living.

THIS..... is the big picture. Unfortunately many don't or choose not to see it.

It is a pretty sad person who is envious to the point that he wants to bring down successful people though it will result in no gain for himself (and will probably hurt him). The Bible says something about this, I believe. Would the country be better off without Bill Gates, Steve Jobs, Warren Buffett, and the like? Would the "working man" be richer without those people? Obviously, the answers are no and no. As I said, this is propaganda spewed by sad, envious people.

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I :heart; Q

The propaganda is your lie that progressive tax and economic policies would bring down the Warren Buffets and Steve Jobs, and is exactly what's enabled the erosion of the foundation of the US economy.

Household incomes nationally ticked up by 0.8% between 2017 and 2018. Although a smaller increase than in previous years, it marks the second year in a row that the........ national average............ household income was higher than in 2007, the year before the Great Recession. (the great recession that started in 2008) Many say the weak recovery is related to the continued reluctance of young adults to have children and form households. We're talking about 400,000 fewer babies being born a year," Getting married is being delayed, having children within marriage is being delayed, and how many children people are having is getting delayed.". buying houses which is an indicator of wealth is being delayed. Employment made continued gains since the recession, with 4.7% of the labor force unemployed in 2018 versus 5% the year before. That's compared to 2010, when the unemployment rate stood at 10.5%.

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Wealth tax will help. There should be no billionaires. It's unconscionable that billionaires and hungry children can exist together in this world. Spin it however you like, it's still immoral.

You're worried about Bill Gates, Steve Jobs, Warren Buffett? Was Al Einstein a billionaire? Michelangelo? Aristotle?

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Was Al Einstein a billionaire? Michelangelo? Aristotle...... No they were NOT Billionaires, HOW MUCH MONEY IN REDISTRIBUTED WEALTH DID THEY GET???

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No shit Sherlock, that's my point. Apparently they made their legendary contributions to humankind without demanding obscene wealth. You guys act like no one would create or innovate without the inventive of massive wealth accumulation.

Einstein was a freaking socialist.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

When there weren't any billionaires, there were more hungry children, much more. Humanity is in the best economic shape it has every been in right now.

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I :heart; Q

I'm shooting for no billionaires AND no hungry children. 60% of Americans don't have $1K in the bank.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

60% of Americans don't have $1K in the bank.......63% of all Americans OWN THEIR OWN HOUSE.....

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"The name "homeownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the homeownership rate because many households that are owner-occupied contain adult relatives (often young adults, descendants of the owner) who do not own their own home, and because single building multi-bedroom rental units can contain more than one adult, all of whom do not own a home.

The term "homeownership rate" can also be misleading because it includes households that owe on a mortgage and do not fully own the equity in their own that they are said to "own". According to ATTOM Data Research, only "34 percent of all American homeowners have 100 percent equity in their properties - they've either paid off their entire mortgage debt or they never had a mortgage""

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

You guys act like no one would create or innovate without the inventive of massive wealth accumulation.......and you act like without redistribution of wealth no one would create or innovate either...... All those guys from history DID NOT NEED a REDISTRIBUTION OF WEALTH to create masterpieces, great literature, theories of everydamn thing.. NO, They worked for a living and still succeeded without stealing other peoples money.

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What? Michelangelo was an artist who survived on patronage, Einstein trained and taught in public universities, and Aristotle was a philosopher in Plato's academy, none of them were capitalists, they all worked for the public good without the need for grotesque self enrichment.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

they all worked for the public good without the need for grotesque self enrichment. .........NO...NO they didn't work for the Public good....They all worked to put food on the table and to save for old age......Some of their work was of Public benefit and has surpassed the original work put into it.... BUT their work was NOT done as a PUBLIC service for the good of the community. THEY Succeeded without the government stealing somebodyelses money and giving it to them.

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Jeez the dimwits that represent the GOP on this board can't represent the rest of the GOP can they? "Humanity is in the best economic shape it has every been in right now." Says who, one of tspank's "climate experts"?

The pay has to be in context! Housing affordability has gone to $Hit compared to when baby boomers could get their slice of the American Dream. The wealth gap has made for a huge group of people that pay cash for houses as investments. Low rates and greed mean markets hotter that ever. People with limited means (hard workers in today's economy, young people and so on) can't win a bidding war when a wealthy person can just dip in their bank account and sweeten the pot.

And that is just housing:

"Millennials and other generations have benefited from a 67 percent rise in wages since 1970," Student Loan Hero reports. "However, these gains have not been enough to keep up with ever-inflating living costs. Rent, home prices and college costs have all increased faster than incomes in the U.S."

Duh!!!


Edited: 09/30/2019 at 12:07 PM by Greensleeves

http://www.cnbc.com/2019/01/23...a-1000-emergency.html

"Just 40 percent of Americans are able to cover an unexpected $1,000 expense, such as an emergency room visit or car repair, with their savings, according to a survey from personal finance website Bankrate."

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Updated Wed, Jan 23 2019 . Hundreds of thousands of people are living without a paycheck amid the longest government shutdown in history.... yea, yea, that was one From the Democrats trying to force Trumps hand, This article from a Government shutdown is NOT a typical situation.... BUT the article does have some good advice about putting some of your money into a savings account so that you have a buffer against Emergencies. The article says NOTHING about getting money from other people to pay your health care and it says nothing about redistribution of wealth AT ALL...

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Yes it was.




Fact is most Americans are living paycheck to paycheck. That's the point of the article. I'm the one suggesting that there must be redistribution of wealth in this country, perhaps to keep rich people from losing their heads. Healthcare, education and low income housing will need to be nationalized and run democratically for the benefit of the people.

That said, no one wants your stuff. You're not rich, you're not a capitalist, and whatever personal property you have is safe when we transition to socialism.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Michelangelo was an artist who survived on patronage OF THE MEDICI, BILLIONAIRES of their time who because they were billionaires could afford to hire Michaelangelo to do art., Einstein trained and taught in public universities NO He did NOT,The Institute for Advanced Study (IAS), located at 1 Einstein Drive, Princeton, New Jersey, in the United States, is a PRIVATE independent postdoctoral research center for theoretical research and intellectual inquiry........ and Aristotle was a philosopher in Plato's academy a school for the Children of the RICH.

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Michelangelo had lots of patrons, but i don't think he made a lot of money, yet he helped define the renaissance. Einstein was a socialist, trained in public European universities, and IAS is FREE, and so was Plato's Academy. I don't know where you get such silly notions that you should defend a system that exploits you.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

.

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“It is the heart of US policy to use fascism to preserve capitalism while claiming to be saving democracy from communism “ - Michael Parenti

Edited: 09/30/2019 at 04:21 PM by RustyTruck

Are you saying that you don't think we have any redistribution of income in place today? It is everywhere. Look at how many people receive money in the form of tax returns who don't pay any taxes. The top 20% of income earners pay 87% of all income tax. More than 44% of Americans don't pay income tax at all. How much more "fair" do you want things to be? The thing I have come to accept is that the left will never be content. If we nationalize healthcare, the left isn't going to stop. They will just move on to a guaranteed minimum income, guaranteed transportation, guaranteed guarantees, etc. You have already stated that your goal is to tear the country down and start new under socialism, so it seems like it would be in the best interest of those who enjoy living in this country today, and not eating their dogs, to do the complete opposite of what you suggest.

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"The government who robs Peter to pay Paul can always depend on the support of Paul," - George Bernard Shaw

“Don’t underestimate Joe’s ability to f—k things up.” - Barack Obama

“End of quote. Repeat the line.” - wise words from Joe Biden

Meaningless. To make it meaningful, how has that changed in the last 100 years or so.

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I :heart; Q

nobodyelse listening to freedom rock.

The robber barons of the late 19th century were stopped via laws. The robber barons of today are playing by the rules that are continually re positioned so they stay wealthy and pay less.

While home ownership is recovering from pre-recession levels. It is concentrated in the elderly. from the census folks

Also - GO Rusty!

Edited: 09/30/2019 at 12:54 PM by Greensleeves

Green: Home ownership is concentrated in the elderly......Most Americans think that the ideal age people should marry is 25, but only about a quarter of adults have actually done so by that age," said Census Bureau demographer Jonathan Vespa, author of "The Changing Economics and Demographics of Young Adulthood: 1975-2016", issued in 2017. "Because marriage is closely tied with establishing their own household, young adults may be delaying homeownership to later ages as well.".......Young people have decided to not have children and not get married until later in life. HOMEOWNERSHIP is tied very closely to MARRIAGE AND A FAMILY. therefore Home ownership, now that the recession of 2007 - 2009 is over, is tracking toward older people....

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nobodyelse not getting it why would young people put off getting married? One of the reasons is that it is a lot harder to make it now. No pensions, large corporate employers f-ing with people's hours, husband and wife have to work...

Said to me while visiting Seattle by a gas station attendant, "There was a time when I could afford a house with this job"

One of the reasons is that it is a lot harder to make it now.... That's not true and is not one of the reasons people give when saying why the don't want to get married. It is a lot easier to make it now IF you are married and stay married. #1 the culture, single women make up the bulk of positive images in sitcoms ,advertisement and media. Having parents who divorced also a cultural problem leaves people not trusting marriage. Going to college instead of getting married causes people to not only put off marriage but they also go into debt leaving them unable to pay a an average $20,000 wedding. It's not the debt its the cost of the wedding that was decried. Reproductive rights, women don't get married when they get pregnant they just kill the kid. The hook up culture, one night stands for women as well as men, why get married when casual sex is common place. Careers, societies pressure to be successful leads many people to put off marriage until they have succeeded in a career. Being tied down, marriage isn't seen as being fulfilling having kids limits your life choices. Custody laws, if you get divorced assets and debts, legalities, visitation rights all scare people away from marriage. All of these are reasons people give to why they won't get married, The point is Homeownership is being concentrated in the elderly NOT BECAUSE the elderly are hoarding the money but because Young people CHOOSE to not get married which is the biggest reason to invest in Owning your own home..

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