Median and average wages

[billwald]

http://www.ssa.gov/OACT/COLA/central.html

Interesting. You all understand the difference and why it is important?

(ten guys sitting in a tav. Median pay is $25K and average pay is $40K. Bill Gates walks in. Median pay is $26K and average pay is $40 million.)

In the bottom graph note how the only years where the difference decreases is in relation to Republican presidents and Billy Jeff's administration . . . effect probably lags the administrative policies . . .

when were the rich not getting richer?

 

[alatide]

http://www.ssa.gov/OACT/COLA/central.html

Interesting. You all understand the difference and why it is important?

(ten guys sitting in a tav. Median pay is $25K and average pay is $40K. Bill Gates walks in. Median pay is $26K and average pay is $40 million.)

In the bottom graph note how the only years where the difference decreases is in relation to Republican presidents and Billy Jeff's administration . . . effect probably lags the administrative policies . . .

when were the rich not getting richer?

The NASDAQ went from 2,800 in Jan 2001 to 1,200 in Sept 2002 (Dot Com Crash). That correlates with the rise of the median/average ratio in 2001 and 2002. My guess would be that's what made the difference.

 

[Dragoon68]

What's the point? Median and mean (average) are both valid parameters to consider when evaluating data sets. So are other parameters.

Data can be often be skewed to whatever point you want to make which is why looking at it in different ways is a good idea.

For example: A 10% tax on $10,000 is $1,000 while a 5% tax on $10 million is $500,000. You can say that the later paid 50% less tax (rate) than the former or you can say that the later paid 500% more tax (amount) than the former. You can also say that the later paid $490,000 more tax (absolute amount) than the former! Which point do you want to make?

 

[Nonsequitur]

The NASDAQ went from 2,800 in Jan 2001 to 1,200 in Sept 2002 (Dot Com Crash). That correlates with the rise of the median/average ratio in 2001 and 2002. My guess would be that's what made the difference.

And bless your little heart. The people that lost money must have just made your little body shake with giddy delight.
Ask your daddy what he lost.
Then ask if he can still afford keeping you on the internet trolling around to make stories to tell to your 5th-grade all girl students.

 

[Salty]

And bless your little heart. The people that lost money must have just made your little body shake with giddy delight.
Ask your daddy what he lost.
Then ask if he can still afford keeping you on the internet trolling around to make stories to tell to your 5th-grade all girl students.

Just wondering - if those folks kept their portfoilo intact - no sales - no purchaes - where do they stand now?

Salty

ps - I do not own any stock, bonds, 401k, ect - just a little in a passbook savings.

 

[Nonsequitur]

Just wondering - if those folks kept their portfoilo intact - no sales - no purchaes - where do they stand now?

Salty

ps - I do not own any stock, bonds, 401k, ect - just a little in a passbook savings.

Good Question!

Well, I lost about 2/3rds.
My Family lost over 1/2.
Some of my friends lost 1/4.

Are we going to cry over it?
Are we going to lose our way of life?
No.
All of us who had money in stocks, bonds, etc. only had what we could afford to buy into the stock market what we could buy through HARD WORK and SAVINGS.
None of us are stupid enough, (even though our looks, actions, or the best testings available say other-wise) to to put all of our money that we need to survive into the market.
How does that go?
"I've got a shot-gun, rifle and four-wheel drive, and a country boy can survive."
Bottom line: Keep the d&#n goverment out of my finances. It's none of their business.

 

[Salty]

Good Question!

Well, I lost about 2/3rds.
My Family lost over 1/2.
Some of my friends lost 1/4.

...quote]

but how much of that "loss" has been recovered??

 

[billwald]

The increasing difference between average and median income indicates the growing increase between the median working class person and the median owner class person.

 

[targus]

The increasing difference between average and median income indicates the growing increase between the median working class person and the median owner class person.

Well, if a working class person is dissatisfied with their income they could always become an owner clas person.

Just put your assest on the line, mortgage your house, dip into your savings, work twelve hours or so a day for six or seven days a week and try to make a go of a business of your own.

There are no gaurantees, but there was no gaurentee for the owner class persons that made it.

 

[alatide]

And bless your little heart. The people that lost money must have just made your little body shake with giddy delight.
Ask your daddy what he lost.
Then ask if he can still afford keeping you on the internet trolling around to make stories to tell to your 5th-grade all girl students.

My Daddy is dead. Thanks for making me think about that.

 

[billwald]

You have bought into the big scam to the class war going WITHIN the working class. A small time shop keeper is a member of the middle class at most. Most fail in a year or so.


I would say that owner class starts someplace in excess of a million new a year . . . someone who can spend a million a year without any financial worries.

http://www.economist.com/daily/news/displaystory.cfm?story_id=14584960&fsrc=nwl

From Economist.comA quarter of America's total income is earned by the top 1%


AMERICA is the wealthiest country in the world and its rich keep earning more. In 2007, the latest year for which data are available, the top 1% increased their share of the country's income to 23.5%, according to analysis of tax returns by a pair of economists, Emmanuel Saez and Thomas Piketty. The concentration of income earned by this top percentile now stands at its highest since 1928. Two-thirds of the country's total gains in the five years to 2007 accrued to the top 1%, whereas the bottom 90th percentile saw only 12% of the extra income.