By the Best Definition, the Poverty Rate Should Be Tripled
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Wages have stagnated in the past forty years. The Consumer Price Index (CPI) and average hourly earnings have risen at approximately the same rate. But Pew Research notes that “what wage gains there have been have mostly flowed to the highest-paid tier of workers.”
Median household debt of $68,000 is much more than the median household income of $58,000, and almost as much as the average wealth ($78,000) of an adult in the 6th decile (the 10% of adults just ABOVE the median).
Census data in 2011 showed that half of Americans were in or near poverty. According to a Pew analysis it got WORSE from 2011 to 2014, with expenditures rising and income dropping. Nearly half of our nation’s children under the age of 9 face poverty. Nearly half of gig workers in California face poverty.
Depressing news doesn’t sell on our news shows. So the struggles of the bottom half of America are downplayed, while the “booming” economy for the upper-middle class is highlighted.
Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction
January 8, 2019 at 9:58 AM #9754D503Participant
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I have seen the result of giving bonuses and raises as a % of the original salary/wage.
Seems fine for a few years, but then one realizes that 10% of what their making isn’t very much.
Whilst the execs and managers come in the next day in a new car.
When this is compounded over, say, twenty years, we’re talking about real money.
And real differences in living day to day.
In twenty years the price of vehicles, especially trucks, has more than doubled.
Wages have remained stagnant, at some points even have dropped.
The lower 50% has no one to speak for them.
"Violence is the last refuge of the incompetent." - Asimov; "If you push something hard enough, it will fall over." - Fud's First Law of Opposition
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