Richest 1 percent earn biggest share since '20s

[ElFenix]

Employment gap between rich and poor highest on record:

http://news.yahoo.com/employment-gap-between-rich-poor-widest-record-072956259.html



Damnit, what's wrong with these people? Don't they know that if they all went to college, they would all have a good paying job by now?

/sarcasm-rolleyes

employed people make more money than unemployed people, film at 11

 

[Londo_Jowo]

9-16-2013

http://news.yahoo.com/employment-gap-between-rich-poor-widest-record-072956259.html

Employment gap between rich, poor widest on record



Rates of unemployment for the lowest-income families — those earning less than $20,000 — have topped 21 percent, nearly matching the rate for all workers during the 1930s Great Depression.


U.S. households with income of more than $150,000 a year have an unemployment rate of 3.2 percent, a level traditionally defined as full employment. At the same time, middle-income workers are increasingly pushed into lower-wage jobs.


"This was no 'equal opportunity' recession or an 'equal opportunity' recovery," said Andrew Sum, director of the Center for Labor Market Studies at Northeastern University. "One part of America is in depression, while another part is in full employment."

Did you not notice that Engineer posted the same exact thing this morning?

http://forums.anandtech.com/showpost.php?p=35495881&postcount=218

 

[Engineer]

employed people make more money than unemployed people, film at 11

That's true but you didn't read the relevant portions that middle class people (former now) are being pushed into lower wage jobs and that the numbers are looking like the 20's again. The roaring 20's might just be the 2020's.

 

[Zaap]

Um, "roaring 20's" doesn't refer to the way you're trying to use the term.

Look up the 1930's Great Depression. Basic stuff.

 

[HeXen]

The middle class will mostly go away but a higher percentage of wealthy will emerge and more opportunities will exist. The rest will just fall into the low class

 

[Doc Savage Fan]

Meanwhile the middle class gets the shaft...a 2% tax increase and now Obamacare to contend with. Our government is certainly not helping.

 

[Engineer]

Meanwhile the middle class gets the shaft...a 2% tax increase and now Obamacare to contend with. Our government is certainly not helping.

What 2% tax increase?

 

[Sonikku]

What 2% tax increase?

The payroll tax cut. Repubs wanted to keep it to protect the middle class, but Obama ended as part of his "tax fairness" for the rank and file.

 

[Engineer]

The payroll tax cut. Repubs wanted to keep it to protect the middle class, but Obama ended as part of his "tax fairness" for the rank and file.

Oh, the 'temporary' tax cut that was supposed to last a year but was pushed to two years (by Obama nonetheless). I guess people don't understand the word 'temporary' not to mention, many of the same ones bitched and moaned about rising deficits. *yawn*

(not to mention how many people bitched about it coming from SS when in fact, any lost revenue from the 'temporary' 2% cut was to be replaced from the general revenue)

Oh, and there were not many on either side that wanted to keep this any longer....

 

[fskimospy]

The payroll tax cut. Repubs wanted to keep it to protect the middle class, but Obama ended as part of his "tax fairness" for the rank and file.

You need to go back and look at what actually happened. You are badly misinformed.

 

[ivwshane]

You need to go back and look at what actually happened. You are badly misinformed.

Honest question; do you think if he actually looked back at what happened and who supported what, that he would change his opinion?

 

[fskimospy]

Honest question; do you think if he actually looked back at what happened and who supported what, that he would change his opinion?

No.

 

[Engineer]

You need to go back and look at what actually happened. You are badly misinformed.

I think that is the user named Sophita - the sarcasm queen. I could be wrong but I think that was a name change and the post, as with most, are complete sarcasm.

 

[Doc Savage Fan]

Oh, the 'temporary' tax cut that was supposed to last a year but was pushed to two years (by Obama nonetheless). I guess people don't understand the word 'temporary' not to mention, many of the same ones bitched and moaned about rising deficits. *yawn*

(not to mention how many people bitched about it coming from SS when in fact, any lost revenue from the 'temporary' 2% cut was to be replaced from the general revenue)

Oh, and there were not many on either side that wanted to keep this any longer....

Yeah...fuck you middle class guys...we told you dumbasses the tax cut was temporary! Too bad the job market and economy are still royally screwing you...but we're doing our best to help you...honest! Obamacare is a cluster fuck and may cut into your budget a little too...but hey...suck it up you bunch of whiners! You're a moron if you don't think we've got your best interests at heart. Just ask us!

 

[Vic Vega]

...

 

[ivwshane]

I think that is the user named Sophita - the sarcasm queen. I could be wrong but I think that was a name change and the post, as with most, are complete sarcasm.

Then shame on him for changing his name



If it is him, he is the king of sarcasm.

 

[Engineer]

Yeah...fuck you middle class guys...we told you dumbasses the tax cut was temporary! Too bad the job market and economy are still royally screwing you...but we're doing our best to help you...honest! Obamacare is a cluster fuck and may cut into your budget a little too...but hey...suck it up you bunch of whiners! You're a moron if you don't think we've got your best interests at heart. Just ask us!

I could say the same about spending cuts. You knew the SS cut was temporary. It lasted twice as long as it was supposed to do. Get over it.

 

[ivwshane]

What is this "biggest share" crap?

This isn't a co-op. We aren't all on the same team.

The sooner you learn that the better.

There is no such thing as a "share" of "American" wealth.

You have what is yours.

I have what is mine.

Period.

.

That's great, if the world you live in has zero affect on me and vice versa but that's not the reality we live in.

 

[First]

What is this "biggest share" crap?

This isn't a co-op. We aren't all on the same team.

The sooner you learn that the better.

There is no such thing as a "share" of "American" wealth.

You have what is yours.

I have what is mine.

Period.

.

lol. What a load of horseshit. Blinders much?

 

[michal1980]

But wait, he said he looked at it.

Shocking.

When will you guys stop attacking the Straw-man you constructed and actually read what I posted.

"But it did. There was tons of domestic demand for goods. Goods that could only be provided by manufactures in the USA. US manufacturing along with unions got fat and greedy.

Over time imports became available, competitive and cheaper then those made at home, and the job picture got worse. The period of time from the 50's to 70's were unique, to think those days will return is idiotic."

can you find where I said our imports or exports were the reason we had huge growth in the 50-60s?

No you can't, because I never made that point. Yet you guys seem to be going of on it.

Like I said before. the 1950's saw huge consumer spending. more people bought houses, more people furnished them. more people bought cars, tv's, etc etc. Followed by a huge population boom that also required more spending.


Do you see any of that happening today?

 

[Doc Savage Fan]

I could say the same about spending cuts. You knew the SS cut was temporary. It lasted twice as long as it was supposed to do. Get over it.

I'm talking about what's going on with the middle class my friend (I'm an engineer too btw). In my opinion, it's complete bullshit to blame the rich while turning a blind eye to to what our politicians are doing that directly and substantially hurts the middle class. Yes, there is a large and ever-increasing disparity of wealth in this country that needs to be intelligently addressed. But the pain the middle class is feeling most right now is the direct result of politicians that don't really give a damn. They should have at least phased the payroll tax increase as well as the unemployment benefit changes over a couple years. Instead they got a big FU. How nice.

 

[Vic Vega]

...

 

[jackstar7]

Oh really? Then why do the "1%" have more than you?

Luck plays a factor. Though how much of one depends a lot on the person and their goals.

 

[Engineer]

I'm talking about what's going on with the middle class my friend (I'm an engineer too btw). In my opinion, it's complete bullshit to blame the rich while turning a blind eye to to what our politicians are doing that directly and substantially hurts the middle class. Yes, there is a large and ever-increasing disparity of wealth in this country that needs to be intelligently addressed. But the pain the middle class is feeling most right now is the direct result of politicians that don't really give a damn. They should have at least phased the payroll tax increase as well as the unemployment benefit changes over a couple years. Instead they got a big FU. How nice.

Oh well, they gave you 100% more time than they originally were and you're still not happy. I guess they could have stayed on course.

I'm happy to get my 2% cut for 2 years. Sure, I would have liked to kept it longer but I know the reality of this.

and it doesn't matter anyway....all of this 2% cuts here to get us going is a band aid trying to fix out hemorrhaging middle class jobs market. If we don't fix that, no amount of band aids (even negative ones like EIC) is going to fix us from bleeding to death.

 

[Vic Vega]

...