Please see this link http://www.optimist123.com/optimist/2007/11/brain-teaser-of.html
Definitions:
Median - half way point. In this case, half of American households make more, and half less.
Real Income - After inflation has been factored, so actual progress can be measured after things like declining dollar value and increased prices on things like oil, housing, food, etc. are factored in. In this case, all figures are converted into 2006 dollars.
Yes, there are declines under Bush, no question. It's expected given the hand he was dealt of the dot.com bubble bursting and 9/11.
What I want you to see here is the long term trend. Over the last 20 years (1 generation), the median household is 10% richer.
This idea that the middle class is being screwed is just wrong. As a whole, we are doing much better as a nation.
Raw Data Source - http://www.census.gov/hhes/www/income/histinc/h06ar.html
2007-11-27
09:45:43
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20 answers
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asked by
Uncle Pennybags
7