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Politics : Formerly About Advanced Micro Devices
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To: longnshort who wrote (317057)12/27/2006 2:11:31 PM
From: tejek  Read Replies (1) of 1574107
 
"Reynolds continues by telling of a 2004 story in The Washington Post titled, 'The Vanishing Middle-Class Job.' The Post article pointed out that in 1967, nearly a quarter (22.3 percent) of households made between $35,000 and $49,999 in inflation-adjusted terms, but that that share was down to 15 percent by 2003. "Reynolds notes that the same article showed that the percentage of U.S. households with a real income higher than $50,000 rose from 24.9 percent in 1967 to 44.1 percent in 2003. Moreover, the percentage with income lower than $35,000 fell from 52.8 percent to 40.9 percent. In other words, the 'middle class' was shrinking because people were moving out of the Post's statically defined middle class into a higher income class."
-- David R. Henderson, writing on "What's Really Happening in the Economy?" Wednesday in Tech Central Station at www.tcsdaily.com

Too bad.......Reynolds and Henderson have been debunked:

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