Warhawk Wrote:
-------------------------------------------------------
> WingNut Wrote:
> --------------------------------------------------
> -----
> >
http://www.cnbc.com/id/44962589
> >
> >
> > Bottom line: The average individual now has
> $1,315
> > less in disposable income than he or she did
> three
> > years ago at the onset of the Great Recession
> –
> > even though the recession ended, technically
> > speaking, in mid-2009. That means less money to
> > spend at the spa or the movies, less for
> > vacations, new carpeting for the house, or
> dinner
> > at a restaurant.
>
>
> No surprise here. Many, many people who have been
> able to stay employed have not received any
> increase in pay. Meanwhile, fuel and food are
> more expensive (but there's minimal
> inflation!1!1!!1), health care cost sharing is
> going up. All of that slowly eats away the same
> paycheck. Welcome to the slow painful death of
> America
> >
It's notable that this recession hit the lower upper class (individuals earning between 100K to 200K per year) upper and middle management positions layoffs were and are prevalent especially at the beginning. Remember everyone calling it a "white collar" recession.
Fact is people move fluidly in and out of all income levels. Conventional wisdom seems to be that the rich get richer and the poor get poorer but historically that isn't the case. When I graduated in 1983 the first job I took payed $8.50 per hour and I thought at that time I was middle class. 5 years after going into business I was paying myself $500.00 per week salary and thought I was doing well employing 3 people. The business has grown exponentially and now it's crazy how much I'm worth. but I'm an example of the "poor getting richer" and staying here. Some folks make it to the top only to lose it all. So the poor get poorer, thepoor get richer, the rich get poorer and yes, the rich get richer.
What gets me is how the rich are vilified in the current climate. We are all better off and enjoying a better lifestyle because of the rich. The 99%ers rail against David Koch for instance but I don't hear them demanding that the Lincoln Center, Sloan Kettering, a fertility clinic at New York-Presbyterian Hospital and the American Museum of Natural History return all the charitable donations they've received. The New York State Theater at Lincoln Center, home of the New York City Opera and New York City Ballet was renamed the David H. Koch Theater in 2008 following a gift of 100 million dollars for the renovation of the theater. Condé Nast Portfolio described him as "one of the most generous but low-key philanthropists in America.
He has provided the citizenry of New York world class arts, cultural and health resources and for all that he's picketed because he also is a conservative. Oh and did I mention his companies employ over 60,000 people world wide?
This place would suck if it wasn't for people creating (not taking) wealth. If you don't believe me take a visit to Zucchini Park.
Edited 1 time(s). Last edit at 10/20/2011 10:58AM by mcsmack.