Skip to comments.PERSONAL INCOME DROPS 3.2% SINCE OBAMA... DEVELOPING...
Posted on 04/12/2010 3:35:10 PM PDT by library user
PERSONAL INCOME DROPS 3.2% SINCE OBAMA... DEVELOPING...
Just a headline for now.
Full story to follow.
B4 or after taxes?
Many of us have been stagnant since the end of the clinton years and lost ground when factoring in taxes and health care/insurance costs. This is no surprise and has been happening for quite some time.
Only 3.2%? Perhaps they forgot to count the use to be very productive, but now unemployed people.
Its intentional and on purpose.
You’re not saying Bush is at fault, are you? That is not the kind of position we want to take in an election year.
Think this metric only counts people that actually still have income.
3.2% sounds way too low.
I am down $235,000 on my 2009 vs. 2008. (Just did my taxes.)
I think our decline has been going on for decades and we still have quite a ways to go before we are on par with the 3rd world, which is where the gov and business alike seems to want us.
The ‘Underground Economy’ in action!
That’s why the f*ck*rs want to institute a national VAT!
What business are you in?
The private sector is worse, since the Govt sector has been getting more money and more high paying jobs.
A bit optimistic aren’t they? I know mine has dropped significantly more than that. Our take-home has been cut (-2%), insurance has gone up, property taxes have gone up (10%), utilities have gone up (7%), groceries have gone up, and education expenses have gone up (about 8% so far and not all the new costs for next fall have been decided).
I’d have been ecstatic if it was only a 3.2% drop in income.
“How’s that hopy changy thing working out for ya?”
Nah everybody knows this is odumbos baby
In a related story, taxes took an unexpected rise today ...
Wife and I are off about $170,000 2009 vs 2008. Only satisfaction is that we paid less in taxes. 2010 is looking to be as bad or worse than 209. If there are a lot of folks like us then the Fed Gov. is in for a world of hurt.
and prices are rising.
Just wait until the “Bush” tax cuts are allowed to expire at the end of this year, then look at your paycheck.
Don’t forget the price of gas is still up and spiking toward $4.00 a gallon just in time for July 4th, FOFLOL, but the Obie administration says the cost of living hasn’t gone up.
No kidding! All of us self employed people know that we would be thrilled if it were only 3.2 percent.
Obama is like kryptonite to free eneterprise small business and the economy.
In a truly sick way, I think there are many people in Washington thrilled that you are making less money. They are so far removed from how we wage earners bring in the bucks for their social programs that they spit on us and hope we fail.
Actually it is the retirement and pensions - paying them not to work that is the killer. Kinda like Greece wanting all the EU to pay for its unions retirement.
My personal observation is that the decline in personal income began in the mid nineties. About the same time income disparities between the wealthy and the working class started to quickly grow. When the argued NAFTA would make “us” more wealthy they left most of us out of “us”. What did you think would happen when a factory closes down leaving many well paid hard working Americans unemployed, one is the very wealthy shareholders made a few more bucks per share. Another outcome is that ceo’s ,cfo’s and other officers in companies received greater bonus’. Workers found less opportunity and lower wages.Did they expect all blue collar workers to go to college to be accountants ,lawyers, and brokers? The last 15 years has been a consolidation of wealth, that’s all.
Excuse me, I suggest:
Yup. 2006 2007 I was fine. Once maobama got the nomoination it was like everything stopped on a dime.
The worst part is that my fiance does dot understand this and it puts a lot of stress on our relationship since we were planning on marriage a house etc.
Our income has dropped 75% (hubby working as many temp jobs as he can and I am in school as it’s the only alternative right now. We are currently looking to move even though we have traveled quite a ways outside our state looking for work) and property taxes went up double this year.
I'm hanging by a thread.
The latest data show 22.1 million immigrants holding jobs in the U.S. with an estimated 7 million being illegal aliens. By increasing the supply of labor between 1980 and 2000, immigration reduced the average annual earnings of native-born men by an estimated $1,700 or roughly 4 percent. Among natives without a high school education, who roughly correspond to the poorest tenth of the workforce, the estimated impact was even larger, reducing their wages by 7.4 percent. The reduction in earnings occurs regardless of whether the immigrants are legal or illegal, permanent or temporary. It is the presence of additional workers that reduces wages, not their legal status.
3% across the board cut at my husband’s place of employment last year...so this jibes with our experience.
Yes, but 90's were a unique time, with the tech boom already under way and Y2K yet to come. If you were a web developer when everyone went to online commerce, or a COBOL programmer when Y2K started, you could name your salary.
But it wasn't going to last, and it didn't. Once all of the servers were in place, the online commerce sites were up and running, and older mainframes knew the difference between 1900 and 2000, many of the developers were no longer needed. The laws of supply and demand went in favor of the employers, and that, as they say, was that.
But it was fun while it lasted.
See my post #38. Immigration has done more to depress wages in this country than anything else. We are still bringing in 125,000 legal foreign workers a month now. This includes new permanent residents (green cards) and long-term temporary visas and others who are authorized to take a job. This makes no sense.
My personal income has dropped a lot farther than 3.2%.
Actually just about everybody i know is hurting right now.
As a kid i saw the year 2000 and beyond as going to be incredible.
I was wrong.
The same damn thing happened when they closed down the plants making horse-drawn carts, buggies and covered wagons.
Hard-working people lost their jobs and wealthy shareholders made a few more bucks per share. Which they invested in the automobile industry...
Within a few months, we will long for the days when the drop was only 3.2%.
Within a year, 3.2% will feel like pennies.
My income consistently increased the entire Bush administration. During the current 0bama regime my income has decreased more than 10%.
I own a small drilling company, a MWD company, and a coiled-tubing company. I did do heavy reinvestment in equipment.
2010 is going to be OK for me, if I don’t get taxed to death.
Oil price is up, but I am not going to hire a single new person; all contract.
3.2%....I wish. 20% less for our household. Complain and your told your lucky to have work.
Ozero is destroying wealth and destroying the means to recoup lost wealth.