Who lied and said the rich aren't getting richer and poor poorer?

Question

First of all, income inequality has kept growing since the 1960s. It has accelerated under Bush. A higher Gini coefficient means more inequality.
http://en.wikipedia.org/wiki/Gini_coefficient
http://www.census.gov/hhes/www/income/histinc/h04.html

Two, the poverty rate has climbed from 11.3% in 2000 to 12.3% in 2006. Previously, the poverty rate had gone down every year but the first under Clinton.
http://www.census.gov/hhes/www/poverty/histpov/hstpov2.html

Three, inflation adjusted median household income is still lower then it was in 2000. It went from $49,163 (down for four years to $47,323 ) to $48,201 in 2006.
http://www.census.gov/hhes/www/income/histinc/h06ar.html

The lowest one fifth saw their inflation adjusted income drop from $20,981 in 2000 to $20,035 in 2006. The top one fifth saw their inflation adjusted income rise from $170,026 to $174,012.

Fourth, I don't need to tell you that the cost of housing, oil, electricity, healthcare, education, etc has kept rising like crazy for years.

Income has not kept up with the cost of living.

Forgot the last link for the bottom and top one fifth.

Look at the values in 2006 dollars. That is inflation adjusted.
http://www.census.gov/hhes/www/income/histinc/h01ar.html

Johnny,

The base year is the year prior to when Bush came in and messed everything up. That is the base year.

If you compare today's numbers to numbers from the 1800s, it would make anybody look good. In the long run, median inflation adjusted income has gone up. In the short term it has been stagnant and even going down for some groups of people. The cost of living, however, only keeps going up.

Answer 1

I fail to see why I should give a damn.

That's the problem with so much government spending and intrusion into the economy - it hurts the people.

Answer 2

There is no doubt that things are going downhill for more people. We have lost entire industries. I grew up in an upper middle income family. I was lucky that my mom was able to stay at home with us. I went to college and I work. I don't make as much as I feel that I should be making. I've been in the workforce for 10+ years. I make about $15,000 more than what I started at. But expenses have skyrocketed. I'm working on a Masters part-time. My husband who went to trade school (4 1/2 years older) makes more than I do. But he gets bonuses (lots) and overtime pay.
What does the future hold for future generations? College is incredibly expensive. Housing is incredibly expensive. A bachelors degree doesn't mean much now. Where does it stop? How will the kids of today do in the future?
It seems to me that we may be in deep trouble. People really do a disservice to discount information like this so quickly and easily. I work full-time (45 hours a week) and go to school. I have thought about getting a second job but my health would suffer (need to work out, clean house, etc.) and my marriage (family life too) would go downhill. What would be the purpose of living? I don't think I would make enough to make it worthwhile. It would probably go straight to taxes since it might put us in a different tax bracket. We do ok but we should be doing better with the effort we are putting forth. There are a lot of us out there. I work with great people with outstanding skills and work ethics. It's not just about the poor. Forget about the poor. They have more help then they need. The middle class is in trouble.

Answer 3

You really need to start thinking these things through.

Using 2000 as your beginning year would make any period seem bleak. We were at the height of a technology boom.

Try using 1996 as your starting point.

Yes the rich are getting richer. But the poor are too.

We have imported millions of poor immigrants in the past decade, and have STILL seen real income growth, assuming you don't cherry-pick your time frame, as you just did.

Edit: In your opinion, how did he mess things up? You always claim that Keynesian economic policies are superior. Well, Bush has spent more than just about any other president, so why hasn't out economy shot through the roof in your eyes??? Oh, I get it - its because he has an "R" behind his name. Your misguided hatred makes you look exceedingly foolish.

Answer 4

The fallacy with your argument is that none of these problems are proven to be direct problems that president bush caused. We still have a house and a senate, why not hold them responsible? How do we know all of these problems aren't stemmed from the Clinton presidency?

Answer 5

This government study (not Fox or WSJ) said that the only class to loose income in the last 10 years was the top 1% of income earners. So does that make the top 1% poor? no.

As Boortz has said many times.
Rich people are rich because they keep doing the things that make them rich. Poor people are poor because they keep doing the things that make them poor.

Even though this study shows that all classes have increased income levels, it doesn't negate the fact you must CHOOSE to pursue a higher and higher level of education, employment and economic status to succeed.

Answer 6

Do you realize the earning power of an college educated person? Do you also realize that everyone in poverty can essentially obtain a free college education. All it takes is good decisions and a work ethic.

Answer 7

All a person has to know to realize that the rich are getting richer and the poor are getting poorer, is the fact that a growing number of middle class Americans are unable to pay their medical bills.

Answer 8

You're right. The rich are getting richer because they're industrious, invest wisely, and are innovative. Some, not all, of the poor are getting poorer because they're spending what little money they have on entertainment instead of saving or investing just a little bit in order to get ahead.

Answer 9

Frankly, since I gre wup dirt poor, worked hard and earned my wealth, I could give a damn less about the poor. The vast majority were lazy and shiftless scum in school and continue their ways in adult hood.

Answer 10

I heard it on Boortz today. He was quoting the government's study.