Dorkington Posted April 3, 2015 Share Posted April 3, 2015 (edited) __________________________________________________________________________________________ Average annual expenditures Income before taxes July 2012- July 2013- Percent July 2012- July 2013- Percent Income quintile June 2013 June 2014 change June 2013 June 2014 change ---------------------------- ---------- -------- ---------- ---------- ------- Lowest 20th $22,336 $22,981 2.9 $10,174 $9,818 -3.5 percentile Second 20th 33,075 32,778 -0.9 27,094 26,369 -2.7 percentile Third 20th 42,728 43,739 2.4 47,017 45,724 -2.8 percentile Fourth 20th 59,155 59,250 0.2 75,990 74,410 -2.1 percentile Highest 20th 99,651 100,979 1.3 164,647 166,048 0.9 percentile _________________________________________________________________________________________ Other than the highest 20th percentile, everyone's income has gone down. In some of the cases, combined with increased cost of living. What are your thoughts on this? What is causing this? More info below: http://www.bls.gov/news.release/cesmy.nr0.htm Edited April 3, 2015 by Dorkington Link to comment Share on other sites More sharing options...
DC Tom Posted April 3, 2015 Share Posted April 3, 2015 My first thought is that's a somewhat awkward definition of "quintile." I make between $45k and $75k annually...which quintile am I in? My second thought was...to laugh at the fact that the single biggest contributor to increased expenses was the health insurance costs. Good job, ACA. My third thought was that statistics lie. I want to see the raw data. Link to comment Share on other sites More sharing options...
Magox Posted April 3, 2015 Share Posted April 3, 2015 Most of the jobs that are created are lower-skilled jobs and that there is still slack in the economy. Link to comment Share on other sites More sharing options...
/dev/null Posted April 3, 2015 Share Posted April 3, 2015 What are your thoughts on this? What is causing this? More info below: http://www.bls.gov/news.release/cesmy.nr0.htm Whenever I see bls.gov, my brain changes it to blt I do love me some Bacon Link to comment Share on other sites More sharing options...
Dorkington Posted April 3, 2015 Author Share Posted April 3, 2015 My first thought is that's a somewhat awkward definition of "quintile." I make between $45k and $75k annually...which quintile am I in? My second thought was...to laugh at the fact that the single biggest contributor to increased expenses was the health insurance costs. Good job, ACA. My third thought was that statistics lie. I want to see the raw data. Insurance prices going up (as they do every year) + more people buying insurance due to the mandate makes the increased insurance spending pretty logical, imo. Link to comment Share on other sites More sharing options...
Jauronimo Posted April 3, 2015 Share Posted April 3, 2015 Most of the jobs that are created are lower-skilled jobs and that there is still slack in the economy. In positions with hourly wages, particularly the retail sector, people saw their hours cut to just below the threshold where the employer would be on the hook for healthcare coverage leaving uncle sam with the bill. Win win. Link to comment Share on other sites More sharing options...
DC Tom Posted April 3, 2015 Share Posted April 3, 2015 Insurance prices going up (as they do every year) + more people buying insurance due to the mandate makes the increased insurance spending pretty logical, imo. It's absolutely logical. That's not why I laugh. I laugh, because the ACA was supposed to drive down health "care" costs, but health insurance costs are going up due to the mandates of the ACA that were supposed to prevent it. Also not germane to your original post, so I'll drop the subject here. Link to comment Share on other sites More sharing options...
B-Man Posted April 3, 2015 Share Posted April 3, 2015 Monthly job gains fell significantly in March, and were well below the expectations of most forecasters. The economy added only 126,000 net new jobs in March, and January and February’s job gains were revised downward by 69,000 jobs. The unemployment rate held steady at 5.5 percent. Bottom line: This report confirms most beliefs about the job market. We haven't upshifted to +275K monthly trend. We're weaker than we thought. Link to comment Share on other sites More sharing options...
DC Tom Posted April 3, 2015 Share Posted April 3, 2015 Monthly job gains fell significantly in March, and were well below the expectations of most forecasters. The economy added only 126,000 net new jobs in March, and January and February’s job gains were revised downward by 69,000 jobs. The unemployment rate held steady at 5.5 percent. Bottom line: This report confirms most beliefs about the job market. We haven't upshifted to +275K monthly trend. We're weaker than we thought. And this is why no one trusts the Iran agreement. It may actually be a good agreement...but we can't take this administration's word on it, since they oversell everything. Link to comment Share on other sites More sharing options...
Magox Posted April 3, 2015 Share Posted April 3, 2015 In positions with hourly wages, particularly the retail sector, people saw their hours cut to just below the threshold where the employer would be on the hook for healthcare coverage leaving uncle sam with the bill. Win win. Success!! Link to comment Share on other sites More sharing options...
Jauronimo Posted April 3, 2015 Share Posted April 3, 2015 Take it with a grain of salt considering the source, but worth the quick read. http://www.zerohedge.com/news/2015-04-03/americans-not-labor-force-soar-record-931-million-participation-rate-drops-february- Link to comment Share on other sites More sharing options...
Dante Posted April 3, 2015 Share Posted April 3, 2015 Well in addition to this Obama's war on employment continues. http://cnsnews.com/news/article/ali-meyer/americans-not-labor-force-exceed-93-million-first-time-627-labor-force Particularly on black people http://cnsnews.com/news/article/ali-meyer/record-12202000-black-americans-not-labor-force Oh yeah, the real war on women http://www.breitbart.com/big-government/2015/04/03/56131000-women-arent-in-the-labor-force-a-record-high/ Forward! Link to comment Share on other sites More sharing options...
B-Man Posted April 3, 2015 Share Posted April 3, 2015 Well in addition to this Obama's war on employment continues. http://cnsnews.com/news/article/ali-meyer/americans-not-labor-force-exceed-93-million-first-time-627-labor-force Particularly on black people http://cnsnews.com/news/article/ali-meyer/record-12202000-black-americans-not-labor-force Oh yeah, the real war on women http://www.breitbart.com/big-government/2015/04/03/56131000-women-arent-in-the-labor-force-a-record-high/ Forward! Sorry Dante, Even though the articles above use the numbers directly from the Bureau of Labor Statistics report, I am sure that you will be told that they are not in the "approved list of links" . Link to comment Share on other sites More sharing options...
Dante Posted April 3, 2015 Share Posted April 3, 2015 Sorry Dante, Even though the articles above use the numbers directly from the Bureau of Labor Statistics report, I am sure that you will be told that they are not in the "approved list of links" . Well I would link to them if they reported this kind of thing. Did a quick look at a couple leftist sites. Both CBS and CNN have no mention of this. They seem to be all over some guy released from prison. You know, because that affects us all. Link to comment Share on other sites More sharing options...
TH3 Posted April 3, 2015 Share Posted April 3, 2015 Meanwhile the GOP worries about legislation to help pizza huts and cake shops.... Link to comment Share on other sites More sharing options...
keepthefaith Posted April 3, 2015 Share Posted April 3, 2015 Old news. The economy went soft 8 years ago, the recovery if you want to call it that has been slow and weak so of course employment and wages are lagging. Those at the bottom of the income ladder are generally effected the most as a weak economy punishes those with fewer skills. The big question is what can be done about it. Liberals must be in shock that raising taxes and expanding entitlements hasn't generated better results. Link to comment Share on other sites More sharing options...
Dante Posted April 3, 2015 Share Posted April 3, 2015 Meanwhile the GOP worries about legislation to help pizza huts and cake shops.... Yeah those deadbeats. Wasting time trying to preserve basic individual liberty. Why don't they just submit to our PC correct fascist overlords. Dumbass GOP Old news. The economy went soft 8 years ago, the recovery if you want to call it that has been slow and weak so of course employment and wages are lagging. Those at the bottom of the income ladder are generally effected the most as a weak economy punishes those with fewer skills. The big question is what can be done about it. Liberals must be in shock that raising taxes and expanding entitlements hasn't generated better results. The fraud has had 6 years to reverse the soft economy. Link to comment Share on other sites More sharing options...
B-Man Posted April 3, 2015 Share Posted April 3, 2015 Average Income Lower Than Previous Year Monthly job gains fell significantly in March, How is this possible? We’ve had numerous recovery summers and unemployment has been eliminated by executive order. Well, that only covered "officially calculated unemployment" which currently stands at 5.5%. The type of employment where you actually wake up in the morning and go to your job hasn’t been doing quite so well. This month’s report was a downturn. It was, wait for it…., wait for it…. *WORSE THAN EXPECTED.* In case you thought it was just the Jobless Recovery thing again, nope. It’s just job-less. The Atlanta Fed has downgraded their projection for US economic growth to near zero. . Link to comment Share on other sites More sharing options...
Dante Posted April 3, 2015 Share Posted April 3, 2015 Average Income Lower Than Previous Year Monthly job gains fell significantly in March, How is this possible? We’ve had numerous recovery summers and unemployment has been eliminated by executive order. Well, that only covered "officially calculated unemployment" which currently stands at 5.5%. The type of employment where you actually wake up in the morning and go to your job hasn’t been doing quite so well. This month’s report was a downturn. It was, wait for it…., wait for it…. *WORSE THAN EXPECTED.* In case you thought it was just the Jobless Recovery thing again, nope. It’s just job-less. The Atlanta Fed has downgraded their projection for US economic growth to near zero. . These numbers alone prove what a utter low grade president Obama has been. Absolute fraud and failure. That's just domestically. Link to comment Share on other sites More sharing options...
/dev/null Posted April 3, 2015 Share Posted April 3, 2015 This month’s report was a downturn. It was, wait for it…., wait for it…. *WORSE THAN EXPECTED.* So it's a microcosm of the Obama Administration Link to comment Share on other sites More sharing options...
KD in CA Posted April 3, 2015 Share Posted April 3, 2015 gatortard routinely tells us the economy is booming and Obama is creating jobs by the truckload so I'm not the least bit concerned. Link to comment Share on other sites More sharing options...
3rdnlng Posted April 3, 2015 Share Posted April 3, 2015 This is the deal: If unemployment had been cut in half since 2009 like the administration has been telling us with their cooked books, then wages would have naturally gone up. Wages are not going to go down as unemployment is going down. Just another lie by this administration. Link to comment Share on other sites More sharing options...
birdog1960 Posted April 3, 2015 Share Posted April 3, 2015 (edited) the "problem" is that this result is by design. our business laws, institutions, election laws and yes, even our tax system makes such an outcome almost a necessity…oh, wait, i think there's a highly debated book about just that. http://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/1491534656 "It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade" i strongly suspect that if you further broke down the top quintile into deciles, most of the increases would be seen at the very top. Edited April 3, 2015 by birdog1960 Link to comment Share on other sites More sharing options...
Dante Posted April 3, 2015 Share Posted April 3, 2015 the "problem" is that this result is by design. our business laws, institutions, election laws and yes, even our tax system makes such an outcome almost a necessity…oh, wait, i think there's a highly debated book about just that. http://www.amazon.com/Capital-Twenty-First-Century-Thomas-Piketty/dp/1491534656 "It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade" i strongly suspect that if you further broke down the top quintile into deciles, most of the increases would be seen at the very top. When I got to this I thought you were joking. Are you? Link to comment Share on other sites More sharing options...
birdog1960 Posted April 3, 2015 Share Posted April 3, 2015 When I got to this I thought you were joking. Are you? When I got to this I thought you were joking. Are you? no. if you've not heard of him, then you should have. Link to comment Share on other sites More sharing options...
TH3 Posted April 4, 2015 Share Posted April 4, 2015 (edited) The level of macro and micro economics in this thread is enlightening Since BO is not going to make things better what are the GOP' plans to restore middle class income growth? Seriously. Lets forecast that Jeb or Scott wins and the GOP wins 60 seats in the Senate.....what could we expect that would help middle class income growth and deeper employment? Edited April 4, 2015 by baskin Link to comment Share on other sites More sharing options...
DC Tom Posted April 4, 2015 Share Posted April 4, 2015 Seriously. Lets forecast that Jeb or Scott wins and the GOP wins 60 seats in the Senate.....what could we expect that would help middle class income growth and deeper employment? Nothing. Link to comment Share on other sites More sharing options...
/dev/null Posted April 4, 2015 Share Posted April 4, 2015 The level of macro and micro economics in this thread is enlightening Since BO is not going to make things better what are the GOP' Hilary's plans to restore middle class income growth? Seriously. Lets forecast that Jeb or Scott Hilary wins and the GOP wins 60 seats in the Senate Democrats retake Congress.....what could we expect that would help middle class income growth and deeper employment? Right back at you Link to comment Share on other sites More sharing options...
TH3 Posted April 4, 2015 Share Posted April 4, 2015 Right back at you I dont want Hillary. You just confirmed my thoughts that the GOP really doesn't have any good ideas. I even read the GOP platform today and it had no ideas. I think you are fooling yourself if you think POTUS has a big effect on middle class income. The effects of global competition, internet, computers, worker effeciency gains all far outweigh what either the GOP or BO could do to change these dynamics. Todays economic structure does not b ode well for the middle class. Link to comment Share on other sites More sharing options...
Azalin Posted April 4, 2015 Share Posted April 4, 2015 I dont want Hillary. You just confirmed my thoughts that the GOP really doesn't have any good ideas. I even read the GOP platform today and it had no ideas. I think you are fooling yourself if you think POTUS has a big effect on middle class income. The effects of global competition, internet, computers, worker effeciency gains all far outweigh what either the GOP or BO could do to change these dynamics. Todays economic structure does not b ode well for the middle class. You seem to think that most libertarian and right-leaning people here automatically support the republicans, but you'd know if you read more of what's being said around here that most consider the republican party to be only slightly less crappy than the democrats, and not much of an alternative at all. Link to comment Share on other sites More sharing options...
DC Tom Posted April 4, 2015 Share Posted April 4, 2015 You seem to think believe that most libertarian and right-leaning people here automatically support the republicans, but you'd know if you read more of what's being said around here that most consider the republican party to be only slightly less crappy than the democrats, and not much of an alternative at all. Fixed. Our LLL's don't think. Link to comment Share on other sites More sharing options...
Azalin Posted April 4, 2015 Share Posted April 4, 2015 You seem to think believe feel that most libertarian and right-leaning people here automatically support the republicans, but you'd know if you read more of what's being said around here that most consider the republican party to be only slightly less crappy than the democrats, and not much of an alternative at all. Fixed. Our LLL's don't think. Thanks, but now that I see my mistake, I noticed you made one too. 'Belief' requires conviction on the part of the individual, where 'feel' implies emotion and no actual thought at all. Link to comment Share on other sites More sharing options...
DC Tom Posted April 4, 2015 Share Posted April 4, 2015 Thanks, but now that I see my mistake, I noticed you made one too. 'Belief' requires conviction on the part of the individual, where 'feel' implies emotion and no actual thought at all. No, I can make a pretty strong case that they have conviction. It's any sense of reality they lack. Link to comment Share on other sites More sharing options...
Azalin Posted April 4, 2015 Share Posted April 4, 2015 No, I can make a pretty strong case that they have conviction. It's any sense of reality they lack. Okay, I'll concede that. Link to comment Share on other sites More sharing options...
Doc Posted April 4, 2015 Share Posted April 4, 2015 I dont want Hillary. You just confirmed my thoughts that the GOP really doesn't have any good ideas. I even read the GOP platform today and it had no ideas. I think you are fooling yourself if you think POTUS has a big effect on middle class income. The effects of global competition, internet, computers, worker effeciency gains all far outweigh what either the GOP or BO could do to change these dynamics. Todays economic structure does not b ode well for the middle class. The Dems don't have any good ideas and we've seen the unfortunate result of that these past 6 years. So to vote Dem again in 2016 would be akin to Einstein's definition of insanity. Link to comment Share on other sites More sharing options...
3rdnlng Posted April 5, 2015 Share Posted April 5, 2015 I just had an epiphany. If only those do nothing Repubs would pass a pipeline bill or express an interest in opening up federal lands for fossil fuel exploration, maybe we as a country could use cheap energy to build our manufacturing base back up. Oh my gosh, I'm having another one. Do epiphanies come in twos? They must or spellcheck would have flagged "epiphanies". Would reducing our corporate tax rate encourage more corporations to headquarter in the U.S ? Just a wild thought that probably no one has ever thought of before. Uh oh, an idea is forming and it isn't quite clear yet but it seems to have something to do with less restrictive regulations and rolling back some 2700 page federal bill that tells people they have to buy something and companies have to provide it, or make their employees work less than 30 hours per week. Oh boy, I just can't put my finger on it and three epiphanies have made me as weak as Oda Mae Brown after she let Sam posses her. I'll rest and see if that helps me put a finger on it and maybe some others too. Link to comment Share on other sites More sharing options...
unbillievable Posted April 5, 2015 Share Posted April 5, 2015 The level of macro and micro economics in this thread is enlightening Since BO is not going to make things better what are the GOP' plans to restore middle class income growth? Seriously. Lets forecast that Jeb or Scott wins and the GOP wins 60 seats in the Senate.....what could we expect that would help middle class income growth and deeper employment? Relying on the government to find a fix is a liberal point of view. The Conservative answer is to get government out of the way and let the economy grow. Trying to force a form of social justice (ie "help the middle class" specifically to the detriment of everything else) creates inefficiencies that drag the whole system down. The Potus may not have much power in improving the middle class, but he can do a lot of damage to it. Link to comment Share on other sites More sharing options...
Dorkington Posted April 5, 2015 Author Share Posted April 5, 2015 It's interesting that this is specifically an Obama problem, when this trend has been happening for much longer than he's been in office. Link to comment Share on other sites More sharing options...
TH3 Posted April 5, 2015 Share Posted April 5, 2015 I just had an epiphany. If only those do nothing Repubs would pass a pipeline bill or express an interest in opening up federal lands for fossil fuel exploration, maybe we as a country could use cheap energy to build our manufacturing base back up. Oh my gosh, I'm having another one. Do epiphanies come in twos? They must or spellcheck would have flagged "epiphanies". Would reducing our corporate tax rate encourage more corporations to headquarter in the U.S ? Just a wild thought that probably no one has ever thought of before. Uh oh, an idea is forming and it isn't quite clear yet but it seems to have something to do with less restrictive regulations and rolling back some 2700 page federal bill that tells people they have to buy something and companies have to provide it, or make their employees work less than 30 hours per week. Oh boy, I just can't put my finger on it and three epiphanies have made me as weak as Oda Mae Brown after she let Sam posses her. I'll rest and see if that helps me put a finger on it and maybe some others too. I would say that the above has either no effect (kxl) or unmeasureable effect on middle income wages compared to global compettion, global sourcing and technolgical labor replacement. Link to comment Share on other sites More sharing options...
FireChan Posted April 5, 2015 Share Posted April 5, 2015 It's interesting that this is specifically an Obama problem, when this trend has been happening for much longer than he's been in office. It is? Since when? Link to comment Share on other sites More sharing options...
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