Decline of middle class in USA.
Apr 23rd 2014, 10:18 pm
#16
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Joined: Oct 2011
Location: "LA LA Land"
Posts: 2,447
Re: Decline of middle class in USA.
First point, I'm neutral in this discussion. I couldn't give a toss one way or the other.
The statement may be correct. The discussion is about median income (50% above, 50% below) and any figures on incomes of only the top 5% or only bottom 20% are irrelevant.
In the US, the incomes at the top are growing exponentially, while at the bottom, the incomes are growing comparatively much slower. It makes sense when you look at the last 10 years.
In Europe or Canada, the incomes of the top 50% are increasing, but the bottom 50% incomes are also increasing. Although the bottom 50% growth is less than the top 50%, it is growing comparatively faster than in the US.
The figures quoted for the increase in recent years of median income for the UK and Canada are near 20% growth, while in the US it is 0.3% growth. I think this is what is being referred to, and not the actual amount of the incomes themselves.
The statement may be correct. The discussion is about median income (50% above, 50% below) and any figures on incomes of only the top 5% or only bottom 20% are irrelevant.
In the US, the incomes at the top are growing exponentially, while at the bottom, the incomes are growing comparatively much slower. It makes sense when you look at the last 10 years.
In Europe or Canada, the incomes of the top 50% are increasing, but the bottom 50% incomes are also increasing. Although the bottom 50% growth is less than the top 50%, it is growing comparatively faster than in the US.
The figures quoted for the increase in recent years of median income for the UK and Canada are near 20% growth, while in the US it is 0.3% growth. I think this is what is being referred to, and not the actual amount of the incomes themselves.
ergo: bottom percentile re: ability to comprehend statistics.
Apr 24th 2014, 9:03 am
#17
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Joined: Apr 2011
Location: The Shire
Posts: 1,117
Re: Decline of middle class in USA.
In a country where 60% of the population live in poverty, the level of income for those in that countries "middle class" will be substantially higher than the median income of that country. Then there's the problem of deciding what makes anyone middle class. We all know where that leads.
Apr 24th 2014, 1:50 pm
#19
Forum Regular
Joined: Mar 2013
Location: Madison, Ct
Posts: 39
Re: Decline of middle class in USA.
As Marc Twain said
"Figures don't lie, but liars do figure"
The media places whatever spin they want on data that cannot be interpreted in one or two sentences.
"Figures don't lie, but liars do figure"
The media places whatever spin they want on data that cannot be interpreted in one or two sentences.
Apr 24th 2014, 3:26 pm
#24
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Joined: Oct 2011
Location: "LA LA Land"
Posts: 2,447
Re: Decline of middle class in USA.
....and speaking of factoid statistics - morning news just reported:
Pinesville GA. tops every other US city for earliest average time it's population arrives at work: 7:01AM
Will leave to others to see statistical correlation, if any, to their income because frankly, "I don't give a damn"
Pinesville GA. tops every other US city for earliest average time it's population arrives at work: 7:01AM
Will leave to others to see statistical correlation, if any, to their income because frankly, "I don't give a damn"
