michaelr

Article here..........

Well Boo the fucking HOO HOO HOO!!!

The middle class is all but over, but we get fuzzies like this...

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Dr House

And yet the average salary rate in the US is $35,000. Remarkable.

-Dr House

Your Political Compass

Social libertarian/authoritarian: -7.08
Economic left/right: 6.62

"The best argument against democracy is a 5-minute conversation with the average voter" -Winston Churchill

Chad750

That would be great if the rate of inflation was where the Fed actually said it was.

Question on the stat is that personal or household salary, because if it is 35000 per family that isn't shit in this day and age.

Dr House

You are correct, sir. The Fed is the source of many of our economic problems. I say we kill it and privatize money.

No, that's personal salary. Median household income is actually a little over $50,000.

-Dr House

Your Political Compass

Social libertarian/authoritarian: -7.08
Economic left/right: 6.62

"The best argument against democracy is a 5-minute conversation with the average voter" -Winston Churchill

Bowerbird

But "God didn't mean us to be poor!"

This sad little lizard told me that he was a brontosaurus on his mother’s side. I did not laugh; people who boast of ancestry often have little else to sustain them. Humouring them costs nothing and adds to happiness in a world in which happiness is always in short supply.

R. A. Heinlein

At present, the internet allows one to claim anything, relationship to royalty, physical attributes and expertise they do not have...........

william the wierd

Technically a lot of people who are at or near median income are millionaires, it depends on debt management and how well returns are sheltered from taxes more than income. A tree farmer with a 50K annual income is a millionaire. Some of my cousins did tax-exempt real estate swaps for property around Lake Martin in AL. I seriously doubt that any of the Raileys have ever had more than 60K taxable income other than capital gains ever but Roy's three children own, I believe, about 5 square miles of timber and two laundromats. 1.5 square miles of timber= 1 meg value 10 k in taxes and 15 k insurance and an average gross income of 30-50k depending on pulp and Christmas tree markets. Retirement accounts can also be substantial without raising median income. Even with mutual funds 1/3 each stocks, bonds and REITs provides good sheltered income and capital appreciation in a 401-k or 403-b that does not get listed as income.

But there are many investments that appreciate nicely but provide little taxable income. Rental incomes in the Auburn student ghetto provide good income and acceptable tax shelter. With the exception of myself nearly the entire extended family has a piece of that action. My cousin Jane, on the Jinks side of the family, has done quite nicely in trailer parks while her younger sister Bonnie Ellen has done well with farmland that appreciates quite nicely with the expansion of of campus housing. With tax exempt swaps into the path of highways and eminent domain recognition of income can be postponed effectively forever.

Socio-biology and selection is a fact of life and death not a political option

Politics is a continuation of war by other means

Calling congress a parliament of whores insults the morals and principle of crack whores

michaelr

It would be great if it had any fucking value. Notice the lack of sarcasm.

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william the wierd

The debt bomb also happened in Rome as the Republic was collapsing. 35-50K is good enough to buy a starter home but a starter home is not good enough anymore. My wife was commenting last night about the expensive new cars her subordinates were buying. This situation is nuts.

Socio-biology and selection is a fact of life and death not a political option

Politics is a continuation of war by other means

Calling congress a parliament of whores insults the morals and principle of crack whores

johnlocke

Really? If your head has a temperature 147.3 degrees F and your toes have a temperature of 49.3 degrees farenheit, your AVERAGE body temperature is 98.6 and you're perfectly healthy.

The reality, in case you missed it is that you're DEAD but the AVERAGES indicate otherwise.

This is a picture of a conservative trying to fix the economy.

william the wierd

The far bigger problem is that the 80/20 rule also applies to incomes but the folks in DC couldn't figure this out before LBJ launched "The Great Society" to compound the errors of misdiagnosing the cause of the great depression (the fed stepping on the gas too hard in the early 20s and stepping on the brakes too hard 1927-31).

Socio-biology and selection is a fact of life and death not a political option

Politics is a continuation of war by other means

Calling congress a parliament of whores insults the morals and principle of crack whores