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Old 09-05-2013, 07:44 AM  
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Obama's Economy Hits His Voters Hardest

This is so damn sweet:



OPINION
September 3, 2013, 6:53 p.m. ET
Stephen Moore: Obama's Economy Hits His Voters Hardest Young people, single women and minorities have fared the worst during the past four years..



For better or worse, a truism of American politics is that voters vote their pocketbooks. Yet according to a new report on median household incomes by Sentier Research, in 2012 millions of American voters apparently cast ballots contrary to their economic self-interest.

Each month the consultants at Sentier analyze the numbers from the Census Bureau's Current Population Survey and estimate the trend in median annual household income adjusted for inflation. On Aug. 21, Sentier released "Household Income on the Fourth Anniversary of the Economic Recovery: June 2009 to June 2013." The finding that grabbed headlines was that real median household income "has fallen by 4.4 percent since the 'economic recovery' began in June 2009." In dollar terms, median household income fell to $52,098 from $54,478, a loss of $2,380.

What was largely overlooked, however, is that those who were most likely to vote for Barack Obama in 2012 were members of demographic groups most likely to have suffered the steepest income declines. Mr. Obama was re-elected with 51% of the vote. Five demographic groups were crucial to his victory: young voters, single women, those with only a high-school diploma or less, blacks and Hispanics. He cleaned up with 60% of the youth vote, 67% of single women, 93% of blacks, 71% of Hispanics, and 64% of those without a high-school diploma, according to exit polls.


According to the Sentier research, households headed by single women, with and without children present, saw their incomes fall by roughly 7%. Those under age 25 experienced an income decline of 9.6%. Black heads of households saw their income tumble by 10.9%, while Hispanic heads-of-households' income fell 4.5%, slightly more than the national average. The incomes of workers with a high-school diploma or less fell by about 8% (-6.9% for those with less than a high-school diploma and -9.3% for those with only a high-school diploma).

To put that into dollar terms, in the four years between the time the Obama recovery began in June 2009 and June of this year, median black household income fell by just over $4,000, Hispanic households lost $2,000 and female-headed households lost $2,300....


http://online.wsj.com/article/SB1000...303535934.html
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Old 09-06-2013, 01:27 PM   #76
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Originally Posted by Braincase View Post
Yes. However, the chart fails to demonstrate changes in the Top 5%/95%, or Top 10%/90%. I should look for that info. Still kind of wild to think that 33% of this countries wealth is controlled by the top 1%. I wonder how much influence that 1% has on selection of candidates that appear on the ballots during any given election cycle.
Yep, a person has to look at who gains over the years. Our economy grows every year. Where does that growth go? Does the whole economy grow, or certain aspects.







So the question is, why isn't economic growth benefiting everyone and how do we reverse the trend.
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Old 09-06-2013, 01:30 PM   #77
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Originally Posted by Loneiguana View Post

So the question is, why isn't economic growth benefiting everyone and how do we reverse the trend.
The federal government just took over the Insurance and Healthcare industries which is like 1/5th of the US economy.

That's why YOU FRIGGIN' DOPE.
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Old 09-06-2013, 01:33 PM   #78
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Originally Posted by Comrade Crapski View Post
The federal government just took over the Insurance and Healthcare industries which is like 1/5th of the US economy.

That's why YOU FRIGGIN' DOPE.
Took over the insurance companies? I didn't know we went to a single payer system, when did that happen?

And what does this have to do with 30 years of economic data?

Is this another one of those, Obama and his magical time machine moments? Cause apparently that time machine gets a heck of a lot of use.
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Old 09-06-2013, 02:14 PM   #79
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Originally Posted by Loneiguana View Post




mikey23545 fills in the mysteriously missing years:


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Old 09-06-2013, 02:29 PM   #80
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The "1 percenters" share of wealth hasn't changed one iota the past 50 years:

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Old 09-06-2013, 03:08 PM   #81
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Livesteam you should lay off KC native, placing in your sig where he admitted he's a homosexual is a step to far. Try to be accepting of his lifestyle though it be vulgar, offensive and morally repugnant.
LOL I have sigs turned off. What a ****ing clown.
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Old 09-06-2013, 03:11 PM   #82
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I really shouldn't be stepping into the middle of this, but.....

You called him a "Shitty meth head parents raising future strippers" and you are going to complain that he said you mow lawns and sell dope? Maybe a mutual ignore would work best for both of you.
I only reciprocate what I've received. That ****er has been incessantly posting racist shit directed at me. If he doesn't want to play hard ball then he should back off of the KKK style of posting.
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Old 09-06-2013, 03:12 PM   #83
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Originally Posted by Prison Bitch View Post
The "1 percenters" share of wealth hasn't changed one iota the past 50 years:

That's why I was curious about the top 5 and 10%.
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Old 09-06-2013, 03:14 PM   #84
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Originally Posted by Prison Bitch View Post
The "1 percenters" share of wealth hasn't changed one iota the past 50 years:

I notice the Economic Policy Institute on there, since you posted this I assume you trust them?

Okay, let's look at what they actually say about gains over the decades, instead of a chart that says "Estimated":

Quote:
It is widely acknowledged that wealth declined substantially between 2007 and 2009 as the housing bubble burst and stock prices fell. This wealth shrinkage was especially hard on the middle class and those groups (such as African Americans) whose house is their primary source of wealth. It is far less appreciated that this is a long-term trend, and that wealth is now lower for the typical household than it was a generation ago in 1983, while the wealth at the upper end expanded a great deal.

The disparity of changes in wealth over the last generation is portrayed in the figure, which shows the shares of the wealth gains for various wealth classes. All of the gains in wealth accrued to the upper fifth, with 40.2 percent of the gains going to the upper 1 percent and 41.5 percent going to the next wealthiest 4 percent of households. This translated to gains of $4.5 million per household in the richest 1 percent and a gain of roughly $1.2 million per household in the next richest 4 percent of households.

In other words, the richest 5 percent of households obtained roughly 82 percent of all the nation’s gains in wealth between 1983 and 2009. The bottom 60 percent of households actually had less wealth in 2009 than in 1983, meaning they did not participate at all in the growth of wealth over this period.
Here is the address that goes right to the EPI page.
http://www.epi.org/publication/large...l-wealth-gain/


And I know you will have trouble understanding this next part, since I'm not a talk radio host, but this is what your entire thread was started over. Where do you think the money is going?

When the average household income goes down, that money doesn't disappear, it doesn't leave the system, it is going to someone else.
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Old 09-06-2013, 04:42 PM   #85
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Originally Posted by Loneiguana View Post
Where do you think the money is going?

When the average household income goes down, that money doesn't disappear, it doesn't leave the system, it is going to someone else.

It's already been answered: it's going to everybody, including the middle class. "Household" has to be adjusted for the number of people in the household. Since more people are single now, average size has gone down but the per capita rate has gone substantially up.





That's why I called your chart which only shows the blue line to be essentially a lie. Because it is highly misleading and faulty.
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Old 09-06-2013, 05:03 PM   #86
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Originally Posted by Loneiguana View Post
I notice the Economic Policy Institute on there, since you posted this I assume you trust them?

Okay, let's look at what they actually say about gains over the decades, instead of a chart that says "Estimated":



Here is the address that goes right to the EPI page.
http://www.epi.org/publication/large...l-wealth-gain/


And I know you will have trouble understanding this next part, since I'm not a talk radio host, but this is what your entire thread was started over. Where do you think the money is going?

When the average household income goes down, that money doesn't disappear, it doesn't leave the system, it is going to someone else.
Thats always going to be true. The "poor" will always be poor...if they cease being poor, they join the middle class or the wealthy. You discuss this as if we are talking about closed sets.
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Old 09-06-2013, 06:44 PM   #87
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So, are you saying that the middle class is not shrinking? Expanding? I guess I'm confused.
Shrinking at an alarming rate. That's why so many suburbs in the U.S. have turned into virtual ghost towns.

Yep.
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Old 09-07-2013, 07:35 AM   #88
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Originally Posted by Prison Bitch View Post
It's already been answered: it's going to everybody, including the middle class. "Household" has to be adjusted for the number of people in the household. Since more people are single now, average size has gone down but the per capita rate has gone substantially up.





That's why I called your chart which only shows the blue line to be essentially a lie. Because it is highly misleading and faulty.
First, why did you start this thread if everyone is gaining? That goes against what you state in the thread opener.

Second, can you maybe find a graph that doesn't use the word estimate. That is the second time you have done this. Three times you are out.
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Old 09-07-2013, 07:39 AM   #89
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Thats always going to be true. The "poor" will always be poor...if they cease being poor, they join the middle class or the wealthy. You discuss this as if we are talking about closed sets.
Um, yes, we want more people in the middle class, not poor.

Our society is driven by middle class consumption.



We have been losing the middle class. We need to reverse this trend and increase the middle class to rates seen in previous decades.
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Old 09-07-2013, 07:39 AM   #90
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Shrinking at an alarming rate. That's why so many suburbs in the U.S. have turned into virtual ghost towns.

Yep.
You must of been asleep during the housing crisis.
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