Monday, May 14, 2012
1% THIS, 99%ers
Yes, folks, the top 1%'s share of the country's total AGI DID go up from 1996 to 2005 (from 16.04% in 1996 to 21.20% in 2005). BUT, if you also look at the ACTUAL human beings who ACTUALLY comprised that 1% in 1996 - their income actually WENT DOWN from 1996 to 2005. It went down because more than half of the people who comprised that top 1% in 1996 were clearly out of it by 2005. This whole idiotic notion that America is some stratified society in which the poor are poor forever and the rich are rich forever is purely and absolutely a myth. I'm sorry, but it is.............Source - "Income Mobility in the U.S. from 1996 to 2005," Report of the Department of the Treasury, November 13, 2007.
Subscribe to:
Post Comments (Atom)
6 comments:
The nation has fluctuations where most people's incomes go down. That fact does nothing to rebut or minimize the stat you seem to disrespect, sir.
From that very same study, John; 58% of the people in the bottom quintile in 1996 had moved to a higher one by 2005.
How dare you challenge the "preferred stats and interpretation" with other "facts and interpretation" just as valid as the "preferred ones."
I mean everybody knows all the countries problems are the result of the wealthy. Most specifically the wealthiest 1% Right?
I have a theory about government, redistribution of wealth, and lowest common denominators.
Here's another interesting stat, fellas. Of the population of people who work full-time, year-round, only 2.5% of that population actually lived below the poverty level in 2007. 2.5%!!! Even allowing for the fact that that % may have gone up a little due to the recession, that is still an extraordinary number.
Share with your fine audience what the poverty level is, Will.
I don't know the exact figure, John, but I believe that it's somewhere in-between $20-25,000 a year for a family of 4. Of course, I must also add that I do not believe that that figure also includes transfer payments such as food stamps, housing and energy assistance, earned income tax credit, etc..
Post a Comment