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#1 User is offline   MTP Reggie 

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  Posted 13 September 2018 - 07:31 AM

Middle-class income rose above $61,000 for the first time last year, U.S. Census Bureau says
By Heather Long and Jeff Stein
September 12 at 5:31 PM
https://www.washingtonpost.com

<More Bad News For Democrats/proggies/leftists/socialists Here>

Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday.

The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less.

Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999, although the Census Bureau cautions that median income last year was not statistically different from 1999 or 2007, the last year before the recession. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars.

Middle-class household income has been rising steadily for the past several years as the economy has rebounded from the deep recession and millions of Americans have found jobs again. The extra pay from having another person in the home employed again or working additional hours is the largest factor contributing to rising income, the Census Bureau said.

[For first time since 2010, America's progress on health insurance stalls]

"We're continuing to see a shift from part-time to full-time work, so some of that could explain an increase in income," said Trudi Renwick, an assistant division chief at Census Bureau.

The Census Bureau also reported that the U.S. poverty rate declined modestly to 12.3 percent, the lowest level in more than a decade and a sign the economic devastation from the Great Recession is subsiding.

https://www.washingtonpost.com/resizer/rv7t0HFM5fwJWjUXcIVHxC9aOyg=/1484x0/arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/Y64GCE53KZCJPBK3JR6SOBOXMQ.jpg


(snip)

<More Bad News For Democrats/proggies/leftists/socialists Here>
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#2 User is online   Gertie Keddle 

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  Posted 13 September 2018 - 07:34 AM

Middle-class income rose above $61,000 for the first time last year, U.S. Census Bureau says


By Heather Long and
Jeff Stein
September 12 at 5:31 PM
Washington Post
Excerpt:

Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday.

The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less.

Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999, although the Census Bureau cautions that median income last year was not statistically different from 1999 or 2007, the last year before the recession. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars.

Article
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#3 User is offline   MTP Reggie 

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Posted 13 September 2018 - 07:35 AM

View PostGertie Keddle, on 13 September 2018 - 07:34 AM, said:

...


Too slow!
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#4 User is online   Censport 

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Posted 13 September 2018 - 07:43 AM

http://www.rightnation.us/forums/public/style_images/master/snapback.png' alt='View Post' />MTP Reggie, on 13 September 2018 - 07:31 AM, said:


Interesting that there's a big dip that coincides with the two terms of president "I just think everybody does better when we spread the wealth around". Guess that dumb (bleep)er was wrong after all.
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#5 User is online   Gertie Keddle 

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Posted 13 September 2018 - 08:51 AM

View PostMTP Reggie, on 13 September 2018 - 07:35 AM, said:


:lol: Had to switch browsers because I was out of WaPo freebies on the first one.
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#6 User is offline   MTP Reggie 

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Posted 13 September 2018 - 08:53 AM

View PostGertie Keddle, on 13 September 2018 - 08:51 AM, said:

:lol: Had to switch browsers because I was out of WaPo freebies on the first one.


I just clear my cookies when that happens.
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#7 User is offline   AntonToo 

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Posted 13 September 2018 - 08:57 AM

View PostCensport, on 13 September 2018 - 07:43 AM, said:

Interesting that there's a big dip that coincides with the two terms of president "I just think everybody does better when we spread the wealth around". Guess that dumb (bleep)er was wrong after all.


Interesting that you are not quite cognisant that other than a particular guy being in the White House there was a GREAT FN RECESSION going on. :rolleyes:

No doubt seeing some real income growth is good, but it's very incremental and in line with the growth trend since 2011.

We'll see where 2018 data lands.

https://www.advisorperspectives.com/images/content_image/data/03/0322887b8c51db687e6b38cc214bb8f7.png

This post has been edited by AntonToo: 13 September 2018 - 08:58 AM

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#8 User is online   Censport 

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Posted 13 September 2018 - 01:59 PM

View PostAntonToo, on 13 September 2018 - 08:57 AM, said:


:lol2: :lol3:

Hey Reggie, now I see why you post economics threads in the political section. This thread is going to be a lot more fun than mine! :lol:
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#9 User is offline   MTP Reggie 

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Posted 13 September 2018 - 02:03 PM

View PostCensport, on 13 September 2018 - 01:59 PM, said:

Hey Reggie, now I see why you post economics threads in the political section. This thread is going to be a lot more fun than mine!


I post them here if there's even a slight political angle (perceived or otherwise). If it's just a pure economics thread, I'll put it in the other forum. But they are so much more entertaining here because some people are Too stupid to understand them.
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#10 User is offline   oki 

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Posted 13 September 2018 - 03:47 PM

Come on know it's just a co incidence that recessions tend to happen when Democrats take control of Congress.

http://cstl-cla.semo...andcongress.asp

Let's see here....

How far back should we go?
1947....

1947-1948 Republicans controlled both houses with a Democrat President(Truman)
1953-1954 Republican President and Congress

1957-1958 Recession Repub president Dem Controlled Congress
1960 Same thing
1969 Same thing
1973 Same thing
1980 Carter with a Dem controlled Congress
1981 Reagan with a Dem controlled house but Republican controlled Senate
1990 Bush I with a Dem Controlled Congress
2001 Bush II with a Repub controlled house but Dem Senate
2007 Bush II with a Dem Controlled Congress
2009 well I don't need to go into details.

https://www.cato.org...-banking-crises
http://cstl-cla.semo...andcongress.asp

Two things.
If there is a Recession and it's a Republican controlled Congress it's shorter.
And second, of the past 12 recessions large or small eight of them had Democrats in control of both houses and or both houses and Presidency. Lemme' see here 12 recessions 8 of them with a Dem Controlled Congress.... That's %67 percent.

Hard to play games with those stats.

Oki

This post has been edited by oki: 13 September 2018 - 03:48 PM

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#11 User is online   erp 

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Posted 13 September 2018 - 04:38 PM

View PostMTP Reggie, on 13 September 2018 - 02:03 PM, said:

I post them here if there's even a slight political angle (perceived or otherwise). If it's just a pure economics thread, I'll put it in the other forum. But they are so much more entertaining here because some people are Too stupid to understand them.

What’s funny is that you can have this conversation right out in the open, and it will not change the outcome.

We still get entertained. ;)
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#12 User is online   Dean Adam Smithee 

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Posted 13 September 2018 - 04:39 PM

View PostMTP Reggie, on 13 September 2018 - 07:31 AM, said:


Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday.

The median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less.

Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999, although the Census Bureau cautions that median income last year was not statistically different from 1999 or 2007, the last year before the recession. A change in methodology in 2013 makes precise comparisons difficult. All the income figures have been adjusted for inflation and are reported in 2017 dollars.


WaPo is citing the census bureau, but on census.gov it says just under 61,000.

FOR IMMEDIATE RELEASE: THURSDAY, SEPTEMBER 13, 2018
New American Community Survey Statistics for Income, Poverty and Health Insurance Available for States and Local Areas
September 13, 2018
Release Number CB18-145


SEPT. 13, 2018 — The U.S. Census Bureau today released its most detailed look at America’s people, places and economy with new statistics on income, poverty, health insurance and more than 40 other topics from the American Community Survey (ACS)...

...

  • Real median household income in the United States increased 2.6 percent between 2016 and 2017. The 2017 U.S. median household income was $60,336.

  • The 2017 median household income was the highest measured by the ACS since it was fully implemented in 2005.

  • Median household income was lower than the U.S. median in 29 states and higher in 18 states and the District of Columbia. Nebraska, Oregon and Wyoming had median incomes not statistically different from the U.S. median. Visit the news graphic to see where the rest of the states fall.


Census.Gov Source: https://www.census.g.../acs-1year.html

I just don't trust WaPo. Well actually I DO trust them... about as far as I could toss one of their Mitsubishi 45-couple keyless offset presses.

It would surprise me if they're puffing up numbers now just so they can sandbag the public on the eve of the election with the Headline: "Census Bureau drastically lowers income numbers".
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#13 User is offline   Hieronymous 

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Posted 15 September 2018 - 10:29 PM

61K in San Francisco won't make you middle class, it will make you homeless.
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#14 User is offline   RedSoloCup 

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Posted 15 September 2018 - 11:37 PM

View PostHieronymous, on 15 September 2018 - 10:29 PM, said:

61K in San Francisco won't make you middle class, it will make you homeless.


https://i.imgur.com/f7FdEdG.jpg
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#15 User is online   Dean Adam Smithee 

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Posted 16 September 2018 - 12:22 AM

View PostHieronymous, on 15 September 2018 - 10:29 PM, said:

61K in San Francisco won't make you middle class, it will make you homeless.


Oh, don't I know it.

(Pre-Mrs-Smithee) late '90s GF was a writer. Day job was tech writing for a major database company (Hyperion back then), supplemented with Travel Writing for the SF Chronicle. Combined income from both gigs was maybe $50K-ish. Subsisted by "House sitting" without a place of her own.

Nice work, if you can get it. And don't mind changing places every 2 weeks or so.
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