US income gap widens as poor take hit in recession

[jams]

The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.
The wealthiest 10 percent of Americans -- those making more than $138,000 each year -- earned 11.4 times the roughly $12,000 made by those living near or below the poverty line in 2008, according to newly released census figures. That ratio was an increase from 11.2 in 2007 and the previous high of 11.22 in 2003.
Household income declined across all groups, but at sharper percentage levels for middle-income and poor Americans. Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains to hit the lowest level since 1997.
Poverty jumped sharply to 13.2 percent, an 11-year high.
"No one should be surprised at the increased disparity," said Richard Freeman, an economist at Harvard University. "Unemployment hurts normal workers who do not have the golden parachutes the folks at the top have.

Somehow the "American Dream" has become the "American Nightmare" for many of us.

http://www.mail.com/Article.aspx/us/...e-Gap?pageid=1

[Sstashmoo]

Quote: "Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains to hit the lowest level since 1997."

Whoa! Wasn't that right at the peak of the Clinton years, the era of Milk and Honey?

[jams]

Still living in the past?

We can't change that.

[Sstashmoo]

Just fillin in for Bats

[rb336]

median income - half make more, half make less. it really tells nothing about what happened ABOVE those lines, but the fact that it dropped says the low end of the professional class took a hit for the first time. Wages for people making under the median wage have been falling, in real terms, for 30 years. deduct increases in co-pays, or outright loss of medical care and you get the real picture

[jams]

Just fillin in for Bats

You have a point.

We've seen his grasp on history. Yikes!

[Danny]

When the recession hit this free country. It's time for Premier Obama 's Operation "COMRAD!" a pre-Soviet tactic to bring our ecomony back and get more people jobs, into action. It's working so far.

the result:

1. More ecomonic stimulus money to the people.

2. Propose free Universal Health Care to the millions of unisured Americans.

3. Make kids go to school longer and learn more Social Darwinism, Social realism and how to make state run production quotas.


The Soviet Union is not dead. It's alive and well in the United States. I knew that the Soviet Socialist Republic Parliament members leave their 'Manchurian Candidate' copies in the U.S. Government. Only you all have to do is detect their codespeak.

[MCP-001]

When the recession hit this free country. It's time for Premier Obama 's Operation "COMRAD!" a pre-Soviet tactic to bring our ecomony back and get more people jobs, into action. It's working so far.

the result:

1. More ecomonic stimulus money to the people.

2. Propose free Universal Health Care to the millions of unisured Americans.

3. Make kids go to school longer and learn more Social Darwinism, Social realism and how to make state run production quotas.


The Soviet Union is not dead. It's alive and well in the United States. I knew that the Soviet Socialist Republic Parliament members leave their 'Manchurian Candidate' copies in the U.S. Government. Only you all have to do is detect their codespeak.

Sadly, I agree with this assessment.

Pres. B.O. wants the economy to fail for two reasons:

1.) Don't give anyone anywhere else to go but the government.

2.) Once you have a captive audience, you can then do whatever you want.

[Detroitej72]

Sadly, I agree with this assessment.

Pres. B.O. wants the economy to fail for two reasons:

1.) Don't give anyone anywhere else to go but the government.

2.) Once you have a captive audience, you can then do whatever you want.

Your flaw is that you don't even realize that he is merely continuing down the road that the powers to be have been leading us on for the last 10 years or so, from an economic standpoint.

[ccbatson]

Whether serious or not, I am liking this Danny guy right now.

[jams]

Whether serious or not, I am liking this Danny guy right now.

Heh, heh, you're not unalike.

[ccbatson]

Excellent, the right side could use the assistance here on Dyes.

[elganned]

Sadly, I agree with this assessment.

Pres. B.O. wants the economy to fail for two reasons:

1.) Don't give anyone anywhere else to go but the government.

2.) Once you have a captive audience, you can then do whatever you want.

Excuse me, but aren't you one of the ones who were deriding Gannon's "false flag" theory about the Twin Towers?

Now you are proposing a conspiracy theory that outshines them all.

[[cue guitar) "Paranoia strikes deep....into your life it will creep..."

[Lorax]

Sadly, I agree with this assessment.

Pres. B.O. wants the economy to fail for two reasons:

1.) Don't give anyone anywhere else to go but the government.

2.) Once you have a captive audience, you can then do whatever you want.

Let's tweak this a little:

Rethuglicans want B.O. to fail for two reasons:

1.) Don't give anyone anywhere else to go but to the giant corporations.

2.) Once you have a captive audience, you can then do whatever you want.

Haven't we been there already? Sailed that ship, it sank, and time for something new.

[elganned]

Rethuglicans want B.O. to fail for two reasons:

Rush Limbaugh, Chosen of God, has already said so. Out loud.

[Lorax]

Rush Limbaugh, Chosen of God, has already said so. Out loud.

I debated whether to use Limbo instead of "Rethuglicans" in that post, knowing this, but I do feel that is the position of most Rethuglicans, and worthy of the broad-brush approach.

[ccbatson]

We all want Obama to fail if his success means socialism and collectivism imposed by force.

[elganned]

But we only have your word for it that those dire consequences will neccessarily ensue from his success. And your predictions for the future sound just a little too much like Chicken Little to be entirely credible.

So I guess I'll take my chances.

[Detroitej72]

Only folks who are terrorists or anti-American want our president to fail.

[Lorax]

Agreed.

As much as I detested the Bush Crime Family, i didn't want the Ample Tush to fail presidentially- politically I favorerd the constitutional path toward impeachment for the war crimes and other such debacles, which would have been the proper way to exorcise the bad apples from our body politic.

[elganned]

...exorcise the bad apples from our body politic.

Three metaphors mixed in one sentence--I think that has to be an indoor record, Lorax.

[Lorax]

I have a few more that describe the Bush Crime Family, but I'd like to continue posting here, if you know what I mean.

[ccbatson]

Not just my word...History with a track record of 100 percent failure of socialism.

[elganned]

Oh, so now you want to talk history? I thought you wanted to talk future, as in all the terrible woes to be visited upon us in the future if Obama manages to succeed in [[gasp!) tying his shoes. [[Knowing how literal-minded you are and seemingly deficient in recognizing literary mechanisms, that last was both sarcasm and hyperbole. Look them up if you're still confused.)

Arguing from an unproven assertion is bad logic. Methinks you need a remedial course in rhetoric.

[ccbatson]

With a broad and dangerous ideology like socialism we must allow history to guide us.