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Mon Dec 31, 2012, 08:06 PM

Remember The Publishers Clearing House? The Van, the Balloons, the Giant Check prop?

People knoicking at the door to announce that someone's ultimate dream fantasy has just come true: You won! You're Rich!!! Do you know what their current ultimate windfall promise to some lucky American is? It's that you might open your front door to discover that YOU HAVE WON $5,000 A WEEK FOR LIFE!!!

Party Time! Tears, Cheers! That comes to an annual income of $260,000 a year! And if the current fiscal cliff negotiations go through as outlined, your family will still be able to earn another $190,000 a year on top of that without having a cent of your temporary Bush tax cuts taken away.

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Reply Remember The Publishers Clearing House? The Van, the Balloons, the Giant Check prop? (Original post)
Tom Rinaldo Dec 2012 OP
snappyturtle Dec 2012 #1
jberryhill Dec 2012 #2
Tom Rinaldo Dec 2012 #3
Curmudgeoness Dec 2012 #4
Tom Rinaldo Dec 2012 #5
Tom Rinaldo Dec 2012 #6
hfojvt Dec 2012 #7
DeSwiss Dec 2012 #8
Demo_Chris Jan 2013 #9
Tom Rinaldo Jan 2013 #10

Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 08:09 PM

1. Remarkable, isn't it? nt

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Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 08:09 PM

2. 260K is 96th percentile

That's still in "the 99%" no?

http://www.whatsmypercent.com/

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Response to jberryhill (Reply #2)

Mon Dec 31, 2012, 08:12 PM

3. By Golly you're right!

Those Publishers Clearing House cheapskates!!!

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Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 08:33 PM

4. Well, that puts it in perspective, doesn't it?

I will keep this one in mind when I have to argue the "middle class" and "rich" points.

Thanks.

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Response to Curmudgeoness (Reply #4)

Mon Dec 31, 2012, 08:54 PM

5. Yup. It did it for me n/t

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Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 10:06 PM

6. P.S. And you get to will that $5,000 a week to your heirs when you die

Apparently they presume $5,000 a week will still seem like a pretty big deal decades from now even with inflation.

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Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 10:32 PM

7. I still remember a story from the 1980s

I used to tell it in my economics classes in 1988-1990 (the ones I taught).

There was a couple in Chicago that had won a million dollars.

They said that people at work were giving them a hard time. They said "it is not like we can just quit our jobs and live on that".

They had won $50,000 a year for 20 years. That's the equivalent of $101,000 a year today.

I have still never made that much money. It is mind-boggling to me that somebody would say "I cannot live on just $100,000 a year".

One difficulty might be that the $50,000 does not grow over time. By the end of the 20 years what was once worth $101,000 a year in 1987 is only worth $55,000 in 2007. Plus, it is $50,000 with no FICA taxes, so it is like wages of $54,141.

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Response to Tom Rinaldo (Original post)

Mon Dec 31, 2012, 11:13 PM

8. A wonderful, if not bizarre perspective of the fiat monetary system!

- Although rumors of PCH's demise are greatly exaggerated!

It LIVES!!!

<----PCH tracking cookies......

***WARNING, Entering into the PCH site will probably increase the tracking cookies in your computer's cache, in the same way they use to leave all that crap junkmail in your snailmailbox.

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Response to Tom Rinaldo (Original post)

Tue Jan 1, 2013, 03:13 AM

9. The average Walmart checker earns about 17K a year

 

Walmart is America's largest employer.

Followed, I believe, by McDonald's at number two.

So... if my math is correct, the "middle class" 400k a year person earns as much per month as two Walmart workers earn per year. In my book, that makes 400K a year, or 250K a year, not middle class at all. That's fucking rich as far as I am concerned.

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Response to Demo_Chris (Reply #9)

Tue Jan 1, 2013, 11:01 AM

10. America's largest employer pays 17K a year. That's a powerful statement. n/t

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