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Brant Admin
Joined: 29 Sep 2008 Posts: 5277 Location: Hopewell Township
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Posted: Mon Sep 28, 2009 4:02 pm Post subject: The Bush legacy? |
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WASHINGTON (AP) — The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.
The wealthiest 10 percent of Americans — those making more than $138,000 each year — earned 11.4 times the roughly $12,000 made by those living near or below the poverty line in 2008, according to newly released census figures. That ratio was an increase from 11.2 in 2007 and the previous high of 11.22 in 2003.
Household income declined across all groups, but at sharper percentage levels for middle-income and poor Americans. Median income fell last year from $52,163 to $50,303, wiping out a decade’s worth of gains to hit the lowest level since 1997.
Poverty jumped sharply to 13.2 percent, an 11-year high.
Among other findings:
—Income at the top 5 percent of households — those making $180,000 or more — was 3.58 times the median income, the highest since 2006.
—Between 2007 and 2008, income at the 50th percentile (median) and the 10th percentile fell by 3.6 percent and 3.7 percent, respectively, compared with a 2.1 percent decline at the 90th percentile. Between 1999 and 2008, income at the 50th and 10th percentiles decreased 4.3 percent and 9.0 percent, respectively, while income at the 90th percentile was statistically unchanged.
—Plano, Texas, a Dallas suburb, had the highest median income among larger cities, earning $85,003. Cleveland ranked at the bottom, at $26,731.
The findings come as the federal government considers new regulations to rein in executive pay at companies in which it has invested. President Barack Obama also typically cites the need for higher taxes on the wealthy to pay for health care overhaul and other measures, arguing that the wealthy have disproportionately benefited from tax cuts during the Bush administration. _________________
The priests of the different religious sects dread the advance of science as witches do the approach of daylight.
- Thomas Jefferson |
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Cylinsier Master
Joined: 29 Sep 2008 Posts: 13229 Location: Oh shi-
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Posted: Mon Sep 28, 2009 4:13 pm Post subject: Re: The Bush legacy? |
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Brant wrote: | WASHINGTON (AP) — The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.
The wealthiest 10 percent of Americans — those making more than $138,000 each year — earned 11.4 times the roughly $12,000 made by those living near or below the poverty line in 2008, according to newly released census figures. That ratio was an increase from 11.2 in 2007 and the previous high of 11.22 in 2003.
Household income declined across all groups, but at sharper percentage levels for middle-income and poor Americans. Median income fell last year from $52,163 to $50,303, wiping out a decade’s worth of gains to hit the lowest level since 1997.
Poverty jumped sharply to 13.2 percent, an 11-year high.
Among other findings:
—Income at the top 5 percent of households — those making $180,000 or more — was 3.58 times the median income, the highest since 2006.
—Between 2007 and 2008, income at the 50th percentile (median) and the 10th percentile fell by 3.6 percent and 3.7 percent, respectively, compared with a 2.1 percent decline at the 90th percentile. Between 1999 and 2008, income at the 50th and 10th percentiles decreased 4.3 percent and 9.0 percent, respectively, while income at the 90th percentile was statistically unchanged.
—Plano, Texas, a Dallas suburb, had the highest median income among larger cities, earning $85,003. Cleveland ranked at the bottom, at $26,731.
The findings come as the federal government considers new regulations to rein in executive pay at companies in which it has invested. President Barack Obama also typically cites the need for higher taxes on the wealthy to pay for health care overhaul and other measures, arguing that the wealthy have disproportionately benefited from tax cuts during the Bush administration. |
Let me see if I can hit all the conservative talking points.
- Whoopdedoo, a whole two hundreths of a percentage point! Maybe if those lazies got off their butts once in a while, they too could be born into money and earn 6 figures sitting in a nice office telling others what to do!
- Of course they will say this is Bush's fault, but Obama is President now so its his fault we aren't all pooping rainbows and harvesting cold hard cash from trees in our lawns yet!
- Raising taxes on those most able to pay them is madness! You are ruining the American dream of being able to successfully step on the little people!
How'd I do for a start? _________________ The end is nigh! OR forums die APRIL 1. Don't lose contact! Join the forums at bogsource.com now! |
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dazes Professional
Joined: 08 May 2009 Posts: 1422
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Posted: Mon Sep 28, 2009 4:22 pm Post subject: |
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Not too well!
If those lazy butts got of the couch=they too could be born in money/ Don't get it Cy. Two paragraphs needed.
When Bush got Clinton's recession it was still Bush's fault
Raising taxes on the people paying the most isn't fundamentally fair. Flat tax is or national sales tax is.
$138,000 isn't really all that wealthy. |
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Amphikalein Journeyman
Joined: 10 Oct 2008 Posts: 3177 Location: Corrales, NM
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Posted: Mon Sep 28, 2009 4:33 pm Post subject: |
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Don't you mean Clinton's budget surplus? _________________ "Our lives begin to end the day we become silent about things that matter." ~Martin Luther King Jr.
"May we, in our dealings with all the peoples of the earth, ever speak the truth and serve justice." ~Dwight D. Eisenhower
Amphy's blog | Proud Member NDA |
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Cylinsier Master
Joined: 29 Sep 2008 Posts: 13229 Location: Oh shi-
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Posted: Mon Sep 28, 2009 4:34 pm Post subject: |
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Depends on how you spend it. If I lived my life the way I do now but made $138,000, I'd be living the dream. I hate to take a page from george's playbook, but if that doesn't seem like good money to you, maybe you need to sell the Benz or the summer Condo. Or at least cut back on the Ruth's Chris twice a week. _________________ The end is nigh! OR forums die APRIL 1. Don't lose contact! Join the forums at bogsource.com now! |
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dazes Professional
Joined: 08 May 2009 Posts: 1422
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Posted: Mon Sep 28, 2009 4:46 pm Post subject: |
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Cy I know it sounds like a lot of money but take taxes off of that I am assuming that is Gross. Now say you have 4 or 5 kids, thats not that much money. |
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dazes Professional
Joined: 08 May 2009 Posts: 1422
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Posted: Mon Sep 28, 2009 4:47 pm Post subject: |
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I also need to add I have never seen that kind of money and maybe never will but that doesn't stop me from trying to earn and keep what I earn. |
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Cylinsier Master
Joined: 29 Sep 2008 Posts: 13229 Location: Oh shi-
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Posted: Mon Sep 28, 2009 4:50 pm Post subject: |
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dazes wrote: | Cy I know it sounds like a lot of money but take taxes off of that I am assuming that is Gross. Now say you have 4 or 5 kids, thats not that much money. |
Have less kids. _________________ The end is nigh! OR forums die APRIL 1. Don't lose contact! Join the forums at bogsource.com now! |
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dazes Professional
Joined: 08 May 2009 Posts: 1422
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Posted: Mon Sep 28, 2009 4:57 pm Post subject: |
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Tell that to a woman on welfare and see how far you get! |
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Cylinsier Master
Joined: 29 Sep 2008 Posts: 13229 Location: Oh shi-
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Posted: Mon Sep 28, 2009 5:00 pm Post subject: |
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Better, why not provide them with birth control and sexual education and see how far we get? _________________ The end is nigh! OR forums die APRIL 1. Don't lose contact! Join the forums at bogsource.com now! |
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SSSS Journeyman
Joined: 13 Oct 2008 Posts: 3753 Location: Wash PA
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Posted: Mon Sep 28, 2009 5:05 pm Post subject: |
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wow-you STILL think Clinton had a budget surplus! I can't wait till you hear about no santa clause!!! _________________
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dazes Professional
Joined: 08 May 2009 Posts: 1422
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Posted: Mon Sep 28, 2009 5:06 pm Post subject: |
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They get free birth control at the Clinics and they are taught sex ed. |
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SSSS Journeyman
Joined: 13 Oct 2008 Posts: 3753 Location: Wash PA
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Posted: Mon Sep 28, 2009 5:06 pm Post subject: |
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Ok-seriously-explain to me why the info in this article is the fault of Bush and not the global economic situation. Or did he casue that too? This ought to cause some serious spin! _________________
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Cylinsier Master
Joined: 29 Sep 2008 Posts: 13229 Location: Oh shi-
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Posted: Mon Sep 28, 2009 5:10 pm Post subject: |
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SSSS wrote: | Ok-seriously-explain to me why the info in this article is the fault of Bush and not the global economic situation. Or did he casue that too? This ought to cause some serious spin! |
So Bush is a victim of the global economic situation now? That's funny since our economy crashed before most of the rest of the world felt the tremors. _________________ The end is nigh! OR forums die APRIL 1. Don't lose contact! Join the forums at bogsource.com now! |
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SSSS Journeyman
Joined: 13 Oct 2008 Posts: 3753 Location: Wash PA
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Posted: Mon Sep 28, 2009 5:12 pm Post subject: |
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So instead of being insulting try to answer my question. How was the info in this article Bush's fault? And I did not say Bush was the victim. I said the entire global economy was going on a down slope. _________________
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