Things could be worse... - Page 8 - Mercedes-Benz Forum

Reply
 
LinkBack Thread Tools Display Modes
post #71 of 87 (permalink) Old 09-21-2008, 09:32 AM
~BANNED~
 
Jakarta Expat's Avatar
 
Date registered: Aug 2006
Vehicle: PM me to Join the Expat Muslims for Obama Club........
Location: Jakarta, Indonesia
Posts: 17,697
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
The new Census Bureau data on income and poverty reveal that many of the economic trends in this country are a lot more favorable than America's detractors seems to think. In 2007, overall real median family income increased to $50,233, up $600 from 2006. The real median income for intact families -- mother and father in the home -- rose to $78,000, an all-time high.

Although incomes fell sharply in the U.S. after the dot-com bubble burst in 2000 (and still haven't fully recovered), these latest statistics reflect a 25-year trend of upward economic mobility. More important, Barack Obama is wrong when he states on his campaign Web site that the economic policies started by Ronald Reagan have rewarded "wealth not work." Based on this false claim -- that the rich have benefited by economic growth while others have not -- he intends to raise tax rates on high-income individuals.

To be sure, there has been a massive amount of wealth created in America over the last 25 years. But tax rates were cut dramatically across the income spectrum, for rich and poor alike. The results?

When all sources of income are included -- wages, salaries, realized capital gains, dividends, business income and government benefits -- and taxes paid are deducted, households in the lowest income quintile saw a roughly 25% increase in their living standards from 1983 to 2005. (See chart nearby; the data is from the Congressional Budget Office's "Comprehensive Household Income.") This fact alone refutes the notion that the poor are getting poorer. They are not.



Looking at the last two business cycles (first year of recovery to first year of recovery), this low-income group experienced a 10% rise in their inflation-adjusted after-tax incomes from 1983 to 1992 and then another 11% rise from 1992 to 2002). Roughly speaking, the Reagan and Clinton presidencies were equally good for them. Income gains over the last 30 years have been systematically understated due to several factors. These include: ...

New Evidence on Taxes and Income - WSJ.com


Now fool, put the inflation comparison up there alongside showing how much that has eaten up of your little show nothing chart..............
Jakarta Expat is offline  
Sponsored Links
Advertisement
 
post #72 of 87 (permalink) Old 09-21-2008, 10:12 AM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by Jakarta Expat View Post
Now fool, put the inflation comparison up there alongside showing how much that has eaten up of your little show nothing chart..............
1. Inflation has been moderate to non-existant in that time.
2. I believe those data are adjusted for inflation.
3. See chart below...
Attached Thumbnails
Click image for larger version

Name:	Inflation3.jpg
Views:	25
Size:	130.5 KB
ID:	196369  

Don't believe everything you think
Jayhawk is offline  
post #73 of 87 (permalink) Old 09-21-2008, 10:14 AM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Here are some additional data to support the title of this thread...
Attached Thumbnails
Click image for larger version

Name:	living standards.jpg
Views:	25
Size:	89.7 KB
ID:	196370  

Don't believe everything you think
Jayhawk is offline  
post #74 of 87 (permalink) Old 09-21-2008, 12:44 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
No, that pic was in NYC. Here's a pic of the line in SF...

So we have a sampling photograph of about 200-250 people from a metroplex of 19.7MILLION and 300-400 from the SF area population is 7.2MILLION and the center of Apple's Universe.

As a frame of reference. Lexington [CSA of 660K] had SIX people stand in line for two hours for the new iPhone.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #75 of 87 (permalink) Old 09-21-2008, 12:48 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
So we have a sampling photograph of about 200-250 people from a metroplex of 19.7MILLION and 300-400 from the SF area population is 7.2MILLION and the center of Apple's Universe.

As a frame of reference. Lexington [CSA of 660K] had SIX people stand in line for two hours for the new iPhone.
Pick your nits, Sunshine!

Don't believe everything you think
Jayhawk is offline  
post #76 of 87 (permalink) Old 09-21-2008, 01:05 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
The new Census Bureau data on income and poverty reveal that many of the economic trends in this country are a lot more favorable than America's detractors seems to think. In 2007, overall real median family income increased to $50,233, up $600 from 2006. The real median income for intact families -- mother and father in the home -- rose to $78,000, an all-time high.

When all sources of income are included -- wages, salaries, realized capital gains, dividends, business income and government benefits -- and taxes paid are deducted, households in the lowest income quintile saw a roughly 25% increase in their living standards from 1983 to 2005. (See chart nearby; the data is from the Congressional Budget Office's "Comprehensive Household Income.") This fact alone refutes the notion that the poor are getting poorer. They are not. <<<Facts tend to indicate this is an incorrect conclusion
You need to quit reading the new and improved WSJ. Two things from this article alone should make you question EVERYTHING that they now write. Because of their new policies, I quit reading much of their material, using them as tech reference only.

First, the MEDIAN income increase of $600 reflects a REAL DOLLAR increase in of 1.20% but, factoring in INFLATION [2006-7 average of 3.51%] shows a NET LOSS] WSJ CHOSE to not tell you that information in their little article.

Second, that lowest quintile of income that saw a 25% increase in their "living standards from 1983-2005" based on "wages, salaries, realized capital gains, dividends, business income and government benefits"...That same 22 year span had a cumulative inflation of 95.15%. WSJ CHOSE not to tell you that information in their little article.

It is important to look at ALL of the information before drawing a conclusion, not just the parts that make what you think to be your point.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #77 of 87 (permalink) Old 09-21-2008, 01:11 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
Pick your nits, Sunshine!
I do, I point out all the weak analysis in order that future ones will be better.

Continuing to heat and light the Earth now. That is all.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #78 of 87 (permalink) Old 09-21-2008, 01:21 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
You need to quit reading the new and improved WSJ. Two things from this article alone should make you question EVERYTHING that they now write. Because of their new policies, I quit reading much of their material, using them as tech reference only.

First, the MEDIAN income increase of $600 reflects a REAL DOLLAR increase in of 1.20% but, factoring in INFLATION [2006-7 average of 3.51%] shows a NET LOSS] WSJ CHOSE to not tell you that information in their little article.

Second, that lowest quintile of income that saw a 25% increase in their "living standards from 1983-2005" based on "wages, salaries, realized capital gains, dividends, business income and government benefits"...That same 22 year span had a cumulative inflation of 95.15%. WSJ CHOSE not to tell you that information in their little article.

It is important to look at ALL of the information before drawing a conclusion, not just the parts that make what you think to be your point.
If I have to CHOOSE between your flimsy re-analysis of the data and ARTHUR B. LAFFER and STEPHEN MOORE's original and careful analysis of the data, I think I will CHOOSE to believe Laffer and Moore! But nothing personal...

Don't believe everything you think
Jayhawk is offline  
post #79 of 87 (permalink) Old 09-21-2008, 03:20 PM
BenzWorld Elite
 
mcbear's Avatar
 
Date registered: Apr 2004
Vehicle: E500Es
Location: The BlueGrass State
Posts: 29,579
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
Quote:
Originally Posted by Jayhawk View Post
If I have to CHOOSE between your flimsy re-analysis of the data and ARTHUR B. LAFFER and STEPHEN MOORE's original and careful analysis of the data, I think I will CHOOSE to believe Laffer and Moore! But nothing personal...
That's the cool part about choice.

Believing that Supply Side Economics works has kept the Addiction Centers and Psychologist's practices throughout America booming since Reagan years.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
mcbear is offline  
post #80 of 87 (permalink) Old 09-21-2008, 04:09 PM Thread Starter
BenzWorld Elite
 
Jayhawk's Avatar
 
Date registered: Aug 2005
Vehicle: S500/W220/2000
Location: Lawrence, KS (USA)
Posts: 21,652
Mentioned: 0 Post(s)
Quoted: 3 Post(s)
(Thread Starter)
Quote:
Originally Posted by mcbear View Post
That's the cool part about choice.

Believing that Supply Side Economics works has kept the Addiction Centers and Psychologist's practices throughout America booming since Reagan years.
And I'll choose to ignore that kind of BearStuff...

Don't believe everything you think
Jayhawk is offline  
Sponsored Links
Advertisement
 
Reply

  Mercedes-Benz Forum > General Mercedes-Benz Forums > Off-Topic

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Mercedes-Benz Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











  • Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
     
    Thread Tools
    Show Printable Version Show Printable Version
    Email this Page Email this Page
    Display Modes
    Linear Mode Linear Mode



    Similar Threads
    Topic Author Forum Replies Last Post
    Oh dear things just got worse, look at this eric242340 Off-Topic 9 03-13-2008 08:38 AM
    Man, being a cop just gets worse and worse! Teutone Off-Topic 1 10-24-2007 06:08 AM
    Microsoft support is getting worse and worse..... Jakarta Expat Off-Topic 0 03-13-2007 02:04 AM
    1999 ML320 Running worse. and worse. sdanville W163 M-Class 2 12-06-2006 02:25 PM
    OT Things can get worse : Max (Athens-GR) R170 SLK-Class 4 01-16-2002 07:39 PM

    Posting Rules  
    You may post new threads
    You may post replies
    You may not post attachments
    You may not edit your posts

    BB code is On
    Smilies are On
    [IMG] code is On
    HTML code is Off
    Trackbacks are On
    Pingbacks are On
    Refbacks are On

     

    Title goes here

    close
    video goes here
    description goes here. Read Full Story
    For the best viewing experience please update your browser to Google Chrome