Wednesday, August 31, 2005

Wow, it's great to be a working person in America today:

From the New York Times Thursday:

"for the fifth straight year, median household income was basically flat, at $44,389 in 2004, the Census Bureau said Tuesday. That's the longest stretch of income stagnation on record."

"1.1 million more people fell into poverty in 2004, bringing the ranks of poor Americans to 37 million."

"income inequality was near all-time highs in 2004, with 50.1 percent of income going to the top 20 percent of households. And additional census data obtained by the Economic Policy Institute show that only the top 5 percent of households experienced real income gains in 2004. Incomes for the other 95 percent of households were flat or falling."

And from Paul Krugman's column on the 26th:

"According to Labor Department statistics, the purchasing power of an average nonsupervisory worker's wage has fallen about 1.5 percent since the summer of 2003."

8 comments:

SheaNC said...

I'll bet the median income is actually lower than what they list, since they average in the mega-rich incomes of the top few %, who take in a much larger percentage of the nation's wealth.

Mike V. said...

no, I think that's right.
you'are thinking more along the lines of average.

jon said...

After we paid for our kids new jersey summer day camp we found it tough to recover! I totally agree with you!

jon said...

We are trying to find good harry potter movie to take the kids this weekend. Good harry potter movie reviews are hard to find

I just stumbled onto your blog while looking. Seems to happen to me a lot since I am a knowledge mooch LOL

Thanks

Jack Naka said...

Your blog is excellent - keep it up! Don't miss visiting this site about beauty product

Anonymous said...

Nice Blog

Best Wishes

I have a site 80 million Down Loadable Movies If you have the time stop by.

Texas Seo Expert said...

I liked your information. I have a blog about henna autoplex. Please check it out and let me know what you think.

Hoodia said...

Hi: Interesting blog. I’ll save it in my favorites. I too have a blog about San Diego downtown condos . Through this site you can view every San Diego mls listing offered for sale. Another new site is about San Diego vacation attractions Our third site is, guess what? Yes, also about San Diego. This site is an information site devoted to San Diego cosmetic surgery doctors. Needless to say, please stop by and visit our sites. Thanks Bob