Income Gap Grows Wider (and Faster) NYTimes article

[Stan.Dupp]

NewYork Times article link

INCOME inequality in the United States has been growing for decades, but the trend appears to have accelerated during the Obama administration. One measure of this is the relationship between median and average wages.

The median wage is straightforward: it’s the midpoint of everyone’s wages. Interpreting the average, though, can be tricky. If the income of a handful of people soars while everyone else’s remains the same, the entire group’s average may still rise substantially. So when average wages grow faster than the median, as happened from 2009 through 2011, it means that lower earners are falling further behind those at the top.

One way to see the acceleration in inequality is to look at the ratio of average to median annual wages. From 2001 through 2008, during the George W. Bush administration, that ratio grew at 0.28 percentage point per year. From 2009 through 2011, the latest year for which the data is available, the ratio increased 1.14 percentage points annually, or roughly four times faster.

The reasons for the widening income gap aren’t entirely clear. Yes, the nation has had a big recession, but recessions typically tend to lessen inequality rather than increase it.

“We’re seeing the continued effects of the weak labor market and the long-term trends involving technology and globalization,” said Lawrence Katz, an economics professor at Harvard, “Our self-inflicted wounds from austerity are also exacerbating things.”

It’s always possible that the data for 2012 will show a narrowing of the gap, but Professor Katz says he wouldn’t count on it.

1.7%
Increase in median annual wage
3.9%
Increase in average annual wage
2009 through 2011

[Pink Floyd]

I certainly don't tie this to Obama in any way. The trend of exaggerating the worth of executives started long before he was even in Congress. I blame Obama for many things, but this is just not one of them.

[jane2012]

Agree in part...not his fault

[Guest123018-4]

Yep, Obama has done more to hurt the middle class than any President in history.

[jane2012]

You dont know anything about laws, classes, and the economy do you 2puppy!

[Whirlaway]

Obama has declared a stealth war on the American middle class; his economic policies, debt expansion, and regulatory anvil have been his weapons. Obama is an anti-American socialist; he knows that if you destroy the American middle class (and their economic aspirations), you destroy the America he so despises !

Originally Posted by Stan.Dupp

NewYork Times article link

INCOME inequality in the United States has been growing for decades, but the trend appears to have accelerated during the Obama administration. [/B]

[Whirlaway]

And add to the Obama war on the American middle class, his war on the American suburbs - where most of the American middle class wealth is concentrated.

Obama silently wages war on the white suburbs so he can accomplish his wealth re-distribution agenda........and destroy the American middle class in the process.

[Pink Floyd]

Whirlaway, Obama is merely a charismatic pawn, handpicked at the 2004 Democrat Convention by the Socialists to further their cause - no more - no less. They saw a black man with no experience, but the ability to guarantee the black vote. This coupled with whites who are afraid not to be politically correct voting for the first black President insured his victory. McCain was almost cartoonish and should never had been nominated. Dare I even mention McCain's running mate? It was almost as if the Republicans planned their own defeat. I am a true independent, liberal on some issues and conservative on others. I do not believe either party has the interest of America at heart, their only goal is to maintain power.

[Whirlaway]

I don't disagree with what you say is true FF; but that doesn't negate the fact that Obama is a man with an agenda........and you know what I think his agenda is.

[Pink Floyd]

http://www.u-s-history.com/pages/h1669.html

Because of the Cold War, McCarthyism, and dominance of the “Middle American” values, the Communist and Socialist parties virtually disappeared in the 1950s, when membership fell to below 2,000 members. Many Socialists left the party because it was seen that more progressive reform could be achieved through membership in the Democratic Party.

From a purely objective view the Socialists have an excellent plan in place to implement their agenda. With Obamacare they have the tool to make the majority of the people dependent on the central government. These people have traditionally voted Democrat, so the Democrats should enjoy a lock on America for a very long time. Democrat planning has been many years ahead of Republican planning. The strategists for the Republicans couldn't let go of their religious agenda even though it was failing. When Republicans should have been going after the working class they instead chose to target abortion as a primary concern to Americans. This alienated people like me from the Republican party. Now America is faced with an irrevocable tide where the underclass can vote their own raises.

[Whirlaway]

You do know Obama was a card carrying member of the New (Socialist) Party?

[Pink Floyd]

Originally Posted by Whirlaway

You do know Obama was a card carrying member of the New (Socialist) Party?

He is not the brains behind this.

[IIFFOFRDB]

Originally Posted by FlectiNonFrangi

He is not the brains behind this.

He's the poster child.

[Abraham]

Income inequality, so what? Made up issue.

[Guest032516]

Originally Posted by Whirlaway

Obama has declared a stealth war on the American middle class; his economic policies, debt expansion, and regulatory anvil have been his weapons. Obama is an anti-American socialist; he knows that if you destroy the American middle class (and their economic aspirations), you destroy the America he so despises !

If it is a stealth war, how do you "declare" it? Does Obama "declare" surprise attacks, too?

Originally Posted by Whirlaway

And add to the Obama war on the American middle class, his war on the American suburbs - where most of the American middle class wealth is concentrated.

Obama silently wages war on the white suburbs so he can accomplish his wealth re-distribution agenda........and destroy the American middle class in the process.

There you go again - Obama is "silently" waging war. Another oxymoron. And it is "white" suburbs he is after? Your racist slip is showing.

Here is a question, if Obama destroys the middle class, what wealth is left to redistribute? There aren't enough multi-mllionaires and billionaires to carry the economy. They move their money out of the country or tie it up in companies and properties. If they don't sell and declare a profit, there is no income to tax.

And if you somehow seize the property of rich people without violating the takings clause of the Constitution, then you will never be able to do it again. It's a one-trick pony. Once that wealth is squandered by redistribution, no one will ever again try to accumulate wealth in the US - only outside the US.