richardhutnik said:
If you are on the top, you are doing better. If you are middle class, your income is down. No word in the article regarding the poor though. If this reality continues, why would anyone expect people to continue to support the current system?
http://economy.money.cnn.com/2012/03/05/income-goes-up-especially-for-the-rich/?hpt=hp_t3
Overall, salaries and wages grew 2.1%. But the super-rich saw an 11.2% hike, and those just below them enjoyed a 4.6% increase.
But the middle class saw a drop of 0.7% in wages.
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There is a slight problem with that.
The data isn't actually measuring what it says it's measuring.
It's not measuring wages and salaries. It's measuring incomes... specifically by measuring where the salaries lay, and NOT looking at individual returns.
For the last decade and a half or so, the ginicoefficent has increased mostly due to the rise of dual income families and the rise of single parent families.
Dual income families making the "rich" richer because instead of one person having a job, it's two. Sometimes as much as doubling the rich families number, and forcing a middleclass person to be bumped "up" as rich.
This seems pretty likely when you consider the thresholds which qualify you as "The top 1%" and as "rich" Dropped.
So it's a situation where rich peoples wages grew..... yet it took less to qualify as rich. Which would indicate that some rich people all of a sudden got a LOT more rich, in both groups. While other rich people seemingly disapeared from the books... yet somehow their wealth stuck around in that top percent somehow.
Can you think of another reason outside of marriage due to an aging population?
Also, it does give info for the poor. You just have to do the math and realize that "Rich" "Middle class" etc are just moving targets that change each year depending on everyones final score.
Economic class is graded on a curve just like class rank.
Also you convenitly left out the part where the middle class saw a 1.5% increase in income. Making your thesis wrong even just from the article. Salaries are down, but income is up.