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re: Growing Size and Income of the Upper Middle class
Posted on 9/16/20 at 7:50 pm to Mo Jeaux
Posted on 9/16/20 at 7:50 pm to Mo Jeaux
That is what happens when you take out the dynamic elements of the economy for the sake of targeting low unemployment and price stability. The very thing academics and limousine liberals think will help reverse this trend 
This post was edited on 9/16/20 at 7:51 pm
0
Posted on 9/16/20 at 7:52 pm to RICHIE APRILE
People are kidding themselves if they think the RINOs are not the same bird too
Posted on 9/16/20 at 8:05 pm to NC_Tigah
quote:Debt free, here. But I have wondered about this. Hedging against what; hyperinflation as a result of the mega give aways or some other crisis in the future? I respect your financial acumen in addition to your medical expertise.
At these rates, debt might be something to reconsider in some ways.
Posted on 9/16/20 at 8:06 pm to Mo Jeaux
quote:Worthless. As the great philosopher James Brown posited “shape up your bag, don’t worry about mine!”.
t matters in relation to the other portions of income earners. Not sure why you would say it doesn’t.
Another person’s wealth doesn’t make you poorer.
This post was edited on 9/16/20 at 8:08 pm
Posted on 9/16/20 at 8:10 pm to Taxing Authority
quote:
Worthless. As the great philosopher James Brown posited “shape up your bag, don’t worry about mine!”.
One person’s wealth doesn’t make you poorer.
Lol. Simping for Bezos and co. is kind of pathetic, don’t you think? Hope he sees this.
Posted on 9/16/20 at 8:15 pm to TDcline
quote:
ut I really don’t see much that the Republicans have done to make the middle class better off.
I gotta ask. What happened to your paycheck after the TCJA?
If you have a retirement account, how about there?
Posted on 9/16/20 at 8:20 pm to fjlee90
quote:
I gotta ask. What happened to your paycheck after the TCJA?
If you have a retirement account, how about there?
How about 40 some odd years of their anti-manufacturing policies and immigration policies that have gutted the working class and that are now also adversely affecting the middle class?
Posted on 9/16/20 at 8:55 pm to uppermidwestbama
quote:
Trust me, I've gone from $10/hr labor work to making over $325k this year (on path for it).
Doubtful
Posted on 9/16/20 at 9:16 pm to uppermidwestbama
quote:
Meh, the numbers they use are nothing to brag about for upper middle class. $100k as a barrier is a low entry point. It simply takes two married nurses or two married managers at whatever industry and you are basically at the $100k gross.
Trust me, I've gone from $10/hr labor work to making over $325k this year (on path for it).
There is a major difference between buying power at $300k vs $100k.
Real money doesn't start until you pass the $300k mark.
Anything around $150k or lower and you can be dead broke pretty easily.
Dude I have went from make 10/hour to what I make now which is great but not 325k. And I can say with 100% certainty that you are full of shite unless you are talking about living in the NE or Cali or Seattle. Or you completely suck arse with managing money.
Posted on 9/16/20 at 9:18 pm to cwill
quote:
This paper is basically saying the inequality argument shouldn't be hyper-focused on the 1% but should include the Upper MC which grew and combined with the 1% saw all of the income growth while the MC and lower did not...the growth wasn't equal. It dovetails with Charles Murray's point(s) in The Bell Curve and Coming Apart.
So middle class % wise stays the same overall, but % of those that are now upper middle instead of lower middle has grown....and you think that is a bad thing
Posted on 9/16/20 at 9:22 pm to Mo Jeaux
quote:
Lol. Simping for Bezos and co. is kind of pathetic, don’t you think?
is that what you think is going on here? That would the most pathetic of all. Nothing is more pathetic than being jealous of others. Posted on 9/16/20 at 9:25 pm to cwill
quote:We've been over this silliness. Like people making $150k/yr claiming they are "middle class".
This paper is basically saying the inequality argument shouldn't be hyper-focused on the 1% but should include the Upper MC which grew and combined with the 1% saw all of the income growth while the MC and lower did not...the growth wasn't equal.
It's funny that being thankless for what one has is somehow equated with not being "rich".
Posted on 9/16/20 at 9:40 pm to cwill
quote:That was a really good episode. I was particularly interested by the discussion of why do we put so many resources into making the elite even more elite (a la Harvard, Yale, etc.) I believe he said, it's true, they are amazing and they come up with things like the artificial heart...but overall heart health in this country is terrible. We spend too much time on the cutting edge instead of the meat and potatoes sort of.
I listened to a recent Sam Harris podcast with Daniel Markovitz, Yale law prof...he was saying that the rich in this country aren't really the family wealth transfers but that it comes from work and the rich now work their asses off to the detriment of their quality of life.
Posted on 9/17/20 at 8:02 am to wutangfinancial
quote:
Blaming inflation on policy makers when in fact the policies are always reactionary in nature and the inflation dynamics are driven by things for upstream and more important than the letter of the person in charge.
I never blamed inflation on anyone but there is no doubt Carter and Volker intentionally slowed the economy to get inflation under control. One could examine Nixons economic policy and gather some idea of how inflation got where it was but it began to slow in 1977 because money cost what it should at the time. It was a bitter pill and as is our wont we do not like the taste no matter how bad the disease and how good the cure is....
Posted on 9/17/20 at 8:10 am to Taxing Authority
quote:
is that what you think is going on here?
quote:
Nothing is more pathetic than being jealous of others.
Yes.
Posted on 9/17/20 at 9:06 am to Mo Jeaux
quote:
How about 40 some odd years of their anti-manufacturing policies and immigration policies that have gutted the working class and that are now also adversely affecting the middle class?
Are you suggesting that the industries worked by the middle class do not evolve over time as the job market evolves? Do you honestly believe that there are entire classes of people who over time limit their own job opportunities to a single sector?
As manufacturing jobs have changed, so too has the creation for jobs in retail sales, cashiers, food and beverage industries, healthcare workers, warehouse workers who are needed to move and transport inventory, and so on.
What about the positive help for the middle class that has come from the reduction of their tax burden? The effective tax rate on the middle class is almost certainly at or near historic lows in the US, is it not?
Posted on 9/17/20 at 9:09 am to Willie Stroker
quote:
Are you suggesting that the industries worked by the middle class do not evolve over time as the job market evolves?
No.
quote:
Do you honestly believe that there are entire classes of people who over time limit their own job opportunities to a single sector?
I don't understand this question.
quote:
As manufacturing jobs have changed, so too has the creation for jobs in retail sales, cashiers, food and beverage industries, healthcare workers, warehouse workers who are needed to move and transport inventory, and so on.
Sorry we exported your manufacturing job to China. Here's an application for Banana Republic. I hear Chipotle is hiring too! Maybe you should learn to code. That's a well paying job. Well, until we import massive amounts of third world coders to bring down your wages. Practice asking if they'd like fries with their burger order. quote:
What about the positive help for the middle class that has come from the reduction of their tax burden? The effective tax rate on the middle class is almost certainly at or near historic lows in the US, is it not?
Do you want me to give them a cookie for doing one or two things that benefit our nation? Particularly when they have done so much that has harmed it? Nah.
This post was edited on 9/17/20 at 9:11 am
Posted on 9/17/20 at 9:51 am to TDcline
quote:
Democrats are fricking insane
quote:
Republicans need to be doing more
Like, get out of the way?
Posted on 9/17/20 at 10:01 am to Mo Jeaux
What miserable people like you might be missing is in this country, lower class and middle class is for most people a phase of income earning development. Most Americans don't stay in one income bracket over their lives. The absolute majority of people raised in a bottom quintile household move to higher income brackets as they become adults because they adapt to a changing economy.
Close. I worked at McDonald's. I even harvested cow manure for minimum wage. To pay for grad school I even prostituted my metabolism for science. I've moved from qualifying for welfare (never applied) to now being in the top 5% of US income earners for each of the past 15 years and plan to retire at age 55.
What may be holding you back from a similar change is being such a fully committed sour prick who lacks the self confidence to adapt, learn, work, and make good decisions.
quote:
Sorry we exported your manufacturing job to China. Here's an application for Banana Republic. I hear Chipotle is hiring too! Maybe you should learn to code. That's a well paying job. Well, until we import massive amounts of third world coders to bring down your wages. Practice asking if they'd like fries with their burger order.
Close. I worked at McDonald's. I even harvested cow manure for minimum wage. To pay for grad school I even prostituted my metabolism for science. I've moved from qualifying for welfare (never applied) to now being in the top 5% of US income earners for each of the past 15 years and plan to retire at age 55.
What may be holding you back from a similar change is being such a fully committed sour prick who lacks the self confidence to adapt, learn, work, and make good decisions.
This post was edited on 9/17/20 at 10:03 am
Posted on 9/17/20 at 10:05 am to Willie Stroker
Why are you so mad? What makes me miserable?
quote:
I've moved from qualifying for welfare (never applied) to now being in the top 5% of US income earners
quote:
What may be holding you back from a similar change
Well, I make more than you, so I don't know why you think I need to change. Such a weird flex.
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