Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (21431)	7/31/2012 2:00:08 PM
From: TimF	Read Replies (1) \| Respond to of 85487

The households in the top 1 percent had reduced income during the recession. The top 1% now is not the same as the top 1% then. ("Politicians and media talking heads love to refer to people who are in the bottom 20% in income in a given year as "the poor." But, following the same individuals for 10 or 15 years usually shows the great majority of those individuals moving into higher income brackets. ") Households generally have had their income go up since 1984. And that's even avoiding the adjustment for the fact that households are smaller now than they where then. Edit - Also this income calculation, does not include a number of forms of income, obviously anything off the books, but also it doesn't include government benefits. Look at household expenditure data and you get a more accurate impression of low income households.