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Tue Sep 13, 2016, 11:47 AM

 

Middle class incomes had their fastest growth on record last year

Source: Washington Post

The incomes of typical Americans rose in 2015 by 5.2 percent, the first significant boost to middle-class pay since the end of the Great Recession and the fastest increase ever recorded by the federal government, the Census Bureau reported on Tuesday morning.

In addition, the poverty rate fell by 1.2 percentage points, the steepest decline since 1968. There were 43.1 million Americans in poverty on the year, 3.5 million fewer than in 2014.

The share of Americans who lack health insurance continued a years-long decline, falling 1.3 percentage points, to 9.1 percent.

Read more: https://www.washingtonpost.com/news/wonk/wp/2016/09/13/the-middle-class-and-the-poor-just-had-the-best-year-since-the-end-of-the-great-recession/?tid=notifi_push_breaking-news

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 11:56 AM

1. Good news, both for people, and for the election

A thriving economy helps the incumbent party get re-elected.

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 12:27 PM

2. Damn... That socialist, communist, Muslim, freedom hating President is at it again!

Its clearly time to take America back! Don't tread on me! We need to take the Country back to the good old days when a Church going, American loving President was in office. You know, like the glorious years of 2007 and 2008! Those were great years for Americans. We had a true Christian in office. These were the last years that God loved America!


Wow! Obamacare continues to cripple the economy and ruin the lives of Americans just like we said it would!


Make America Great Again!








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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 12:36 PM

3. Dupe, yo. But, teh whatevs.

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 12:53 PM

4. The only problem is the cost of ACA covered insurance is climbing at a stunning rate.

We may soon have the same problem we had before the ACA passed: large numbers of people who simply cannot afford the insurance rates and groceries at the same time. That spiral began when the ACA was negotiated in the dark.

While the remains of the middle class have an apparent improvement (good for them!) those of us forced out of it remain trapped in an economy that will not hire older workers, or those who are out of work for more than 6 months, or those with advanced degrees, experience or significant work skills beyond the job description. We are left with the slow death of inadequate income in an ever more unequal economy.

My last employment interview asked whether I was able to receive and answer text on my personal phone, for a job that is desk bound. Should have bought Apple at $2 so that today I could afford last year's iPhone so I can have a temp job.

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 01:02 PM

5. How many of you out there had a 5% gain in income last year?

I'm middle class and I haven't seen an increase in many years.

Can't help but feel suspicious about this data - maybe the statistics are being juggled in order to provide justification for the Treasury to raise the rates which they seem itching to do.

Burfman.....

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Response to burfman (Reply #5)

Tue Sep 13, 2016, 01:48 PM

10. Data may be good, but not felt.

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 01:05 PM

6. Well the SS COLA is going to be .2% for 2017 about $2.50 a month for most

and Medicare is taking that. Then we will probably face a increase in our Medicare supplement so actually retirees will
have a cut in their income.

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Response to doc03 (Reply #6)

Tue Sep 13, 2016, 01:53 PM

11. $400 billion for a plane that can't fly in the rain, but less than zip for needy seniors.

Not to mention school teachers and their pupils, hungry homeless in any town you can name, veterans of any war and the latest non-wars.

Gotta make sure those "job creators" can afford that 3rd Island in Burrat al Bahrain, and the MIC has guaranteed income from endless war.

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 01:06 PM

7. Obama's fault.

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Response to Historic NY (Reply #7)

Tue Sep 13, 2016, 01:36 PM

8. Nope. Congress and the mighty monied Lobbies that feed and water and own them.

I think we agree that a do nothing GOP congress along with Investment bank friendly Senators of both parties have much to answer for. I don't see how you imagine its a blame Obama thing.

OHHHHHH, you mean Obama should be credited for whatever the improvement is. Right. On.


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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 01:47 PM

9. Yes, and see this, Robert Reich re:

why poverty is barely discussed in the 2016 election and about the major mythologies surrounding poverty in America.

http://www.pbs.org/video/2365839307/

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Response to elleng (Reply #9)

Tue Sep 13, 2016, 06:58 PM

13. Thanks, Ellen. Good video.

 

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 02:02 PM

12. k and r ..good news..

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Response to EV_Ares (Original post)

Tue Sep 13, 2016, 09:01 PM

14. This is proipaganda to assure you there is no need to raise the minimum wage. Slightly altered

versions of this story are on all the major providers today.

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Response to EV_Ares (Original post)

Wed Sep 14, 2016, 12:11 PM

15. woohoo! Gonna tell my boss first thing this morning

 

Haven't had a raise over 2% in years, this extra 5.2% will get handed over immediately no doubt

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