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re: Interesting Chart on Income Adjusted for Inflation since 70's
Posted on 10/3/14 at 12:32 pm to AUbused
Posted on 10/3/14 at 12:32 pm to AUbused
You're telling me that the (statistically) most intelligent, most driven, highest educated, most socially connected individuals are having their income increase at a rate higher than the (statistically) least intelligent, least driven, lowest educated, least socially connected individuals?
No. fricking. Way.
No. fricking. Way.
2
Posted on 10/3/14 at 12:37 pm to Joshjrn
quote:
You're telling me that the (statistically) most intelligent, most driven, highest educated, most socially connected individuals are having their income increase at a rate higher than the (statistically) least intelligent, least driven, lowest educated, least socially connected individuals?
Yes, if you want to focus on that piece of what the data says. It also says that wages have fallen over 40 years for 40% of the workforce. Im sorry that data doesn't fit your model of the world and makes up upset. You seem to feel threatened by facts. The non-fiction section of the library must be a nightmare for you.
Posted on 10/3/14 at 12:37 pm to Joshjrn
quote:
You're telling me that the (statistically) most intelligent, most driven, highest educated, most socially connected class of individuals are having their income increase at a rate higher than the (statistically) least intelligent, least driven, lowest educated, least socially connected class of individuals?
Quibble corrected. This data doesn't track individuals, who jump between classes like crazy.
It also assumes a constant household composition, if it is to have any meaning. Which is a known bad assumption.
It also uses a measure that overestimates inflation, making both the lower and upper classes' income growth look flatter than they are. Additionally, it makes no comparison of standard of living changes over time.
Oh and one more thing, this doesn't measure the actual resources these classes get to take home. These numbers are pre-tax, pre-transfer.
This post was edited on 10/3/14 at 12:39 pm
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