American income drops for second straight year

[NightHawkeye]

Thanks Obama. American's income declines for second straight year | AFP

The average pre-tax income fell 0.9 percent from the same period a year earlier, to $64,432.

But broken down into quintiles, those in the top 20 percent of incomes saw their money stream grow by 0.9 percent to $166,048 on average.

Every other group lost ground, with the bottom 20 percent losing the most: their average income dropped 3.5 percent to $9,818.​

Welcome to Obama's America.
http://www.youtube.com/watch?v=Uuh9k6Ttsm0

 

[Anafany]

Agreed, income inequality is a huge problem in the USA. Obama should do something about that.

 

[NightHawkeye]

Agreed, income inequality is a huge problem in the USA. Obama should do something about that.

He's been making it worse.

 

[Belk]

That nefarious Obama! Directing companies to not pay individuals a COLA that keeps up with inflation!

 

[JustOneWay]

He's been making it worse.

No, he is not....

 

[Paulos23]

He's been making it worse.

How? This has been happening for years. How can you put it all on one man?

 

[OldWiseGuy]

God is in charge of what's going on, not Obama. All world leaders are pawns in God's plan.

 

[Grizzly]

Thanks Obama. American's income declines for second straight year | AFP

The average pre-tax income fell 0.9 percent from the same period a year earlier, to $64,432.

But broken down into quintiles, those in the top 20 percent of incomes saw their money stream grow by 0.9 percent to $166,048 on average.

Every other group lost ground, with the bottom 20 percent losing the most: their average income dropped 3.5 percent to $9,818.​

wait a minute. Waaaaait a minute. I thought Obama was a socialist who would take from the rich and give to the poor? I thought that the wealthy were under attack and their precious hard-earned dollars were being taken from them by BIG GOVERNMENT?


But this report suggests that the wealthy are thriving and the poor are getting poorer

 

[OldWiseGuy]

wait a minute. Waaaaait a minute. I thought Obama was a socialist who would take from the rich and give to the poor? I thought that the wealthy were under attack and their precious hard-earned dollars were being taken from them by BIG GOVERNMENT?


But this report suggests that the wealthy are thriving and the poor are getting poorer

It also suggests that personal income is about twice what it actually is. If personal income averaged $64,000 there would be nothing to complain about.

 

[Veritas]

It also suggests that personal income is about twice what it actually is. If personal income averaged $64,000 there would be nothing to complain about.

You don't really believe that do you? No matter how much some people make, they will always complain as long as there are rich people making more.

 

[JustOneWay]

No matter how much some people make, they will always complain as long as there are rich people making more.

Nobody here said that.

Are you be talking about people you know, because none of the people I know say this.

 

[NightHawkeye]

wait a minute. Waaaaait a minute. I thought Obama was a socialist who would take from the rich and give to the poor? I thought that the wealthy were under attack and their precious hard-earned dollars were being taken from them by BIG GOVERNMENT?

But this report suggests that the wealthy are thriving and the poor are getting poorer

Funny how that whole redistribution thing worked out, huh?
http://www.youtube.com/watch?v=bKNtP1zOVHw

I even expected to pay more for healthcare under Obama ... but I'm paying less. It's everyone else who pays more. Life's just full of ironies.

 

[OldWiseGuy]

You don't really believe that do you? No matter how much some people make, they will always complain as long as there are rich people making more.

I meant that they wouldn't have a legitimate complaint.

 

[OldWiseGuy]

Funny how that whole redistribution thing worked out, huh?
http://www.youtube.com/watch?v=bKNtP1zOVHw

I even expected to pay more for healthcare under Obama ... but I'm paying less. It's everyone else who pays more. Life's just full of ironies.

Our group insurance (two families and one single man) just went up by 33 percent. It has always increased some each term but this last increase is a backbreaker, so we're signing with a different carrier.

 

[Praetor]

It is not wealth we need to redistribute but prosperity, the ability to create wealth. Shaquille O'Neal is wealthy. The man who signs his check is prosperous.

To begin with, we need to put more people to work at living wages which is one of the reasons I advocate spending 5% of our annual GDP on rebuilding and expanding America's infrastructure. Not only will it add $3 to the GDP for every dollar spent but will put 16 million people to work.

I'm addition, I think we need to hire four million police officers, firefighters and EMTs. That will put more people to work at considerable wages. We also need to hire a million more teachers. And we need to increase the salaries of first responders and teachers.

We also need to train people for jobs going unfilled like nursing. We should establish nursing schools at every college and find them to hire the instruction staff to train the nurses to fill these critical positions.

 

[OldWiseGuy]

It is not wealth we need to redistribute but prosperity, the ability to create wealth. Shaquille O'Neal is wealthy. The man who signs his check is prosperous.

To begin with, we need to put more people to work at living wages which is one of the reasons I advocate spending 5% of our annual GDP on rebuilding and expanding America's infrastructure. Not only will it add $3 to the GDP for every dollar spent but will put 16 million people to work.

I'm addition, I think we need to hire four million police officers, firefighters and EMTs. That will put more people to work at considerable wages. We also need to hire a million more teachers. And we need to increase the salaries of first responders and teachers.

We also need to train people for jobs going unfilled like nursing. We should establish nursing schools at every college and find them to hire the instruction staff to train the nurses to fill these critical positions.

I think we should help Mexico to become more economically attractive to Mexicans. That way the illegals will return to their homeland, that is if Mexico can halt the invasion from Central America.

Regarding nurses. There are plenty of opportunities in this field, but not enough people want to go into it. Same with doctors. We are facing a severe shortage of healthcare workers in the near future.

 

[Praetor]

We also need to overhaul our tax code. I propose a 20% flat income tax on individuals and corporations on all income earned beyond the first $20,000. I propose a Goods and Services tax of 20% with annual rebates of $2000 for every man, woman and child legally residing in the USA. I propose raising the estate tax and a target capital gains tax. I would eliminate the payroll tax. I would levy a Land Value Tax and a half-cent Securities Transaction Excise Tax.

 

[OldWiseGuy]

We also need to overhaul our tax code. I propose a 20% flat income tax on individuals and corporations on all income earned beyond the first $20,000. I propose a Goods and Services tax of 20% with annual rebates of $2000 for every man, woman and child legally residing in the USA. I propose raising the estate tax and a target capital gains tax. I would eliminate the payroll tax. I would levy a Land Value Tax and a half-cent Securities Transaction Excise Tax.

I would try to repatriate American capital first, beginning with tax amnesty for profits held offshore. I would raise the interest rates on government instruments sold to Americans.

That said there's enough money lying around to fuel a robust economy and pay off our debts, but like blood it must circulate to do it's thing.

 

[HerbieHeadley]

No, he is not....

Yes, he has.

 

[JustOneWay]

Yes, he has.

Sorry, you're are mistaken.