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The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.

 
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The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
During the first 11 quarters of the Trump Presidency, wages for the bottom 10% of earners over age 25 rose an average 5.9% annually compared to 2.4% during Barack Obama’s second term, according to the latest demographic data from the Bureau of Labor Statistics. Wages for the middle two quartiles increased 3.2% compared to 2.2% and 2.7% between 2012 and 2016. Wage gains for the top 10% have held steady at about 3%.

Less educated workers have also seen the strongest gains. Wages have risen at a 6.1% annual clip for workers over 25 without a high school degree and 3.9% for those with some college—both about three times faster than during the second Obama term. Wage gains have also accelerated though to a lesser degree—to 3.2% from 2.2%—for college grads.

Irony alert: Socialism-loving young people are getting the biggest pay raises. Wages have increased on average 5.8% annually for teens, 4.4% for 20 to 24-year-olds and 4.8% for 25 to 34-year-olds during the Trump Presidency. Maybe as their incomes rise, more millennials will question the tale of woe and revolution that Bernie Sanders is selling them.

As for inequality, the Gini coefficient that measures the income gap has been declining among folks who earn a paycheck. Rising wages have lifted millions of Americans out of poverty and off the government dole. The poverty rate for blacks (20.8%) and Hispanics (17.6%) is the lowest on record.

Forty million fewer people last year lived in households receiving government assistance than in 2016, and the food-stamp rolls have shrunk by 9.5 million over the past three years. Reduced government dependence is a social good far beyond the lower costs to taxpayers. More important are the benefits in self-sufficiency and the contributions to the community that flow from that.

[link to www.wsj.com (secure)]
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01/11/2020 01:56 PM

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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
A rising tide lifts all boats.
I am SNOWIE. WELCOME TO THE NEW ICE AGE. TRY NOT TO STARVE.
LoneStarRisingModerator  (OP)
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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
A rising tide lifts all boats.
 Quoting: Icey

True. It is nice that the lower-income worker's boats are rising faster than the upper for a change. I doubt that has ever happened under a Dem President.
LoneStarRising
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01/11/2020 02:14 PM
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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
Trump wins again! banana2
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01/11/2020 02:18 PM
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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
Horse Shit!!!!!!

Doesn’t matter how fast the bottom rises when the top is light years ahead with quadrillions in savings and return derivatives!

How will that little % change the fact that the bottom is still in debt for basic necessities like electricity, food, water, etc.

We use the little % to pay off our debt that rises faster than any gains while our insurance costs rise higher than the 2-3% raise we get (if any).

The bottom are drowing and it’s because people like Trump would rather watch their millions turn to billions turn to trillions and so on then to do something good with that wealth today.

The economy only works when the money flows through it, but greedy bastards like trump and his ilk hold back until their little Epsteinish money managers tell them to buy!

Trump don’t care because whatever little gain the bottom gets it goes right back into the system for utilities, food, sheler, water, and transportation while hiz derivitives grow exponentially and never get reported!!!!
Anonymous Coward
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01/11/2020 02:20 PM
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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
Our economy was weaponized by the left.
The poor are conservatives.
The leftists in our corporations make it so.
LoneStarRisingModerator  (OP)
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01/11/2020 02:26 PM

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Re: The Economy’s Inequality Dividend: Growth is lifting low-income workers and the middle class.
Horse Shit!!!!!!

Doesn’t matter how fast the bottom rises when the top is light years ahead with quadrillions in savings and return derivatives!

How will that little % change the fact that the bottom is still in debt for basic necessities like electricity, food, water, etc.

We use the little % to pay off our debt that rises faster than any gains while our insurance costs rise higher than the 2-3% raise we get (if any).

The bottom are drowing and it’s because people like Trump would rather watch their millions turn to billions turn to trillions and so on then to do something good with that wealth today.

The economy only works when the money flows through it, but greedy bastards like trump and his ilk hold back until their little Epsteinish money managers tell them to buy!

Trump don’t care because whatever little gain the bottom gets it goes right back into the system for utilities, food, sheler, water, and transportation while hiz derivitives grow exponentially and never get reported!!!!
 Quoting: Anonymous Coward 77895588

Stop crying like a bitch and be glad you live in America. Your lot in life will be 10x worse if America ever becomes a socialist country.

The Poorest 20% of Americans Are Richer on Average Than Most European Nations

groundbreaking study by Just Facts has discovered that after accounting for all income, charity, and non-cash welfare benefits like subsidized housing and food stamps, the poorest 20 percent of Americans consume more goods and services than the national averages for all people in most affluent countries. This includes the majority of countries in the prestigious Organization for Economic Cooperation and Development (OECD), including its European members. In other words, if the US “poor” were a nation, it would be one of the world’s richest.

Notably, this study was reviewed by Dr. Henrique Schneider, professor of economics at Nordakademie University in Germany and the chief economist of the Swiss Federation of Small and Medium-Sized Enterprises. After examining the source data and Just Facts’ methodology, he concluded: “This study is sound and conforms with academic standards. I personally think it provides valuable insight into poverty measures and adds considerably to this field of research.”

The “Poorest” Rich Nation?
In a July 1 New York Times video op-ed that decries “fake news” and calls for “a more truthful approach” to “the myth of America as the greatest nation on earth,” Times producers Taige Jensen and Nayeema Raza claim the US has “fallen well behind Europe” in many respects and has “more in common with ‘developing countries’ than we’d like to admit.”

“One good test” of this, they say, is how the US ranks in the OECD, a group of “36 countries, predominantly wealthy, Western, and Democratic.” While examining these rankings, they corrupt the truth in ways that violate the Times’ op-ed standards, which declare that “you can have any opinion you would like,” but “the facts in a piece must be supported and validated,” and “you can’t say that a certain battle began on a certain day if it did not.”

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