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Census: 1/2 of Americans are Poor or Low Income

Discussion in 'ex-Rag Chew Central' started by K0RGR, Dec 16, 2011.

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  1. K0RGR

    K0RGR Premium Subscriber

    According to the Census Bureau, 1 out of every 2 Americans is either poor or low income :
    http://www.msnbc.msn.com/id/3032619/ The link to the video is under 'Latest Program'.

    Middle Class? What middle class?

    But, there's no need to worry. Our grandkids will all be able to get good jobs at McDonald's.
     
  2. NC5P

    NC5P Ham Member

    Yes, and don't forget that many of them will have Masters and PhD degrees in engineering, science, math, etc. so they can flip burgers better than any other nation on earth!
     
  3. WB2WIK

    WB2WIK Premium Subscriber

    Not necessarily. My X-XYL had a Ph.D. and could burn water. That's when I learned how to cook, and I've been cooking ever since.
     
  4. NA0AA

    NA0AA Ham Member

    I think this study was by the Heritage Foundation, so it's not exactly without it slant.
     
  5. AF6LJ

    AF6LJ Ham Member

    Considering the real unemployment rate I could easily believe it, with one in five out of work, ande even more under-employed.
     
  6. AE5TE

    AE5TE Ham Member

    All in the definition, who is doing the measuring, motivation, and all nearly meaningless. Look around. The standard of living for even the poorest of Americans is pretty darn good.

    Much begrudging going on over the one percent or whatever it is. I don't care. Their vast wealth doesn't take a thing from anyone. There IS NO PIE.
     
  7. WA4OTD

    WA4OTD XML Subscriber

    Interesting wiki on poverty with data coming from census bureau also. http://en.wikipedia.org/wiki/Poverty_in_the_United_States The percentage of poor has remained relatively constant at around 15%.

    number one item listed as factor:
    Income has a high correlation with educational levels. In 2007, the median earnings of household headed by individuals with less than a 9th grade education was $20,805 while households headed by high school graduates received $40,456, households headed holders of bachelor’s degree earned $77,605, and families headed by individuals with professional degrees earned $100,000.

    And the plague of divorce:
    Among single parent families: 26.6% lived in poverty

    Get and education and stay married......
     
  8. WA4BRL

    WA4BRL Ham Member

    B-b-b-but, way back in the wonderland of 2007, it was a whole different world. The stock market was still rising, as was real estate. People were still buying houses, slapping drywall and paint over all the serious problems, and flipping them for exorbitant prices weeks later. And there seemed no limit to how high real estate prices could climb. It didn't matter if one didn't have the resources to jump into real estate flipping, there were all kinds of sub-prime loans available, and mortgage bankers were bringing home multi-million dollar bonuses for selling them. One could just look at a peice of property and make a bundle, or, more accurately, NOT look at the property. The market for real estate appraisers was huge -- why actually inspect a property when a little wink and nod returned huge payoffs under the table. A fraudulent valuation on a home allowed for all kinds of grifts on the system -- and huge profits to those involved.

    So what if a lot of first-time home buyers got saddled with homes worth far less than their mortgages? Everything was hunky dory for those at the top. These were wonderful times. Those making the big bucks learned there was no limit to how much more they could make if they just shut-up and played along. What could possibly go wrong?

    As it turned out, 2008 could go wrong. Yes it was a very different world back when that 2007 data was collected.
     
  9. WA4OTD

    WA4OTD XML Subscriber

    WHat is the census data of today? I'm sure education and staying married are still key factors in your income.

    Look at one of the excel files http://www.census.gov/compendia/statab/cats/income_expenditures_poverty_wealth.html it hasn't changed significantly in the past few years either.

    There was certainly a housing bubble with many people getting burned. I call that personal accountability.......


     
  10. NN4RH

    NN4RH Subscriber

    It's basically just saying that half of all people are below the average income .

    Well Of course they are. That's by definition!

    What this is about is some lefty nut college professor is trying to equate being below average with being poor.

    It's like saying that half of all people are stupid because they're below the average IQ.

    It's a really sophomoric argument.
     
  11. K5FH

    K5FH Ham Member

    Not quite, but close.

    By definition, half are under the median income. A median, as used in statistics, is the numerical value in a data population that separates the upper half of the population from the lower half. See this link:

    http://en.wikipedia.org/wiki/Median

    The average value of a data population is defined as the sum of all values in the population divided by the number of values in the population. The median and average can be the same or close in value but most often are not.

    Example:

    Given the following population of data points: 1, 2, 4, 6, 7, 8, 11, 14, 17, 22, 35, 47, 55.

    The median is 11 - because it is the value in the middle. Exactly half of the data points in the population (six) are below 11 and half are above 11.

    The average, however, is determined thusly:

    (1 + 2 + 4 + 6 + 7 + 8 + 11+ 14 + 17 + 22 + 35 + 47 + 55) = 229. 229/13 = 17.6

    So, the median of the example data population is 11 but the average is 17.6.

    Probably.

    It's like the old story about President Eisenhower being shocked when he learned that half of the population of the United States was below the median IQ. Eisenhower, like so many people, equated median with average. As illustrated above, they are not the same thing.

    The same "argument" can be used if we were to take, say, the median IQ of M.I.T. graduate students in nuclear physics. If the median IQ of this sample was 135, then it would be true that half of them were under the median IQ for graduate students. But, obviously, stupid people don't become graduate students in nuclear physics at M.I.T. and 135 is still a great deal higher than the median IQ for humans in general (usually defined as 100).

    True. It also depends a great deal on how "poor," "poverty level" and "middle class" income levels are defined. And, to a great extent, on the particular agenda(s) of the person or institutions defining the terms.

    For example, someone who has saved a hundred thousand dollars and decides to take a couple of years off from work to write a book is, by government definition, "poor" because he had no income for the two years he was writing the book. Even though his standard of living didn't change because he had saved enough to live comfortably during his period of unemployment. Note that "unemployment," as the term is used here, refers to the lack of wage income.

    Government statistics are endlessly fascinating...
     
  12. NN4RH

    NN4RH Subscriber

  13. N0AZZ

    N0AZZ Ham Member

    One thing that wasn't considered in the income factor besides education was if you had only HS then went on to form your own business's. My income was considerably higher than the highest degree and not dependent on someone else for a job. That is why there is so much unemployment today many overpaid management people and bean counters just waiting for cutbacks or outsourcing. Many knew it was coming and still maintained a lifestyle like in the past new homes, cars, risky stocks.

    The ones that were really hurt were the people working for wages doing actual labor that were shut down were affected the most. They didn't say what percentage of that didn't look for work and had not done so for 5-15 yrs and some for a lifetime and then those that have went from from generation to generation on government programs. But those are ones that aren't to be spoke of because it isn't politically correct or considered racist remark.. Studies are just that studies you roll them any way you want in an election year just like polls.
     
  14. W4HAY

    W4HAY Subscriber

    "Not everything that can be counted counts, and not everything that counts can be counted."
    Albert Einstein
     
  15. KF5LJW

    KF5LJW Ham Member

    The source MSNBC is all I need to know it is Biased BS
     
  16. WA6MHZ

    WA6MHZ Premium Subscriber

    I am DEFINITELY in the DEEPEST of the most IMPOVERISHED Americans! I can't afford a Yaesu FTdx5000 yet many can. I am having Queasy Dillas for dinner tonight while many are having Lobster and Prime Rib! I only have a 2005 Town Car while MANY have new 2011-2012 models!!! I live in a MULTI-DOLLAR house instead of a Multi-Million dollar house!!!! The Recession and Poverty have hit me HARD!!!
     
  17. KG4NEL

    KG4NEL Ham Member

    How much in radios do you have? :)
     
  18. N0AZZ

    N0AZZ Ham Member

    My Town Car is a 2005 also only has 39,xxx miles plan on driving it till it needs to go to the junk yard then buy another. Anyone can afford a FTDX-5000 all it takes is what your willing to give up to have one like anything else or work a little for whatever that might be.
     
  19. WA6MHZ

    WA6MHZ Premium Subscriber

    THIRTY NINE THOUSAND????!!!!!!!!!!!!!

    HOLY MACKERAL is that Low Mileage!!!

    Mine had 23K on it when I bought it in 2005 (and its a 2005 year model!) Mine is up to 109 THOUSAND now, so it is just Beat to death! I have been looking for a deal on a 2010 or 11 one as I keep hearing Lincoln is going to stop making them. However, mine still runs great, and has had very little go wrong with it. I did hafta replace the Drivers Window motor (that cost $700!!!) and it is about ready for new brakes. 109K on Factory brakes is pretty good! OH yes, had to replace the water pump and fan belt too. But that is low repairs. The Town Car is indeed the BEST CAR money can buy! And U will notice there is almost no difference between the 2003 and 2012 models. Just a little re-arranging of the instrument cluster to add a Tach. That says they must be doing something RIGHT if they don't need to change the car for 9 years!
     
  20. WA6MHZ

    WA6MHZ Premium Subscriber

    What am I willing to give up for a FTdx5000? That is kind of like WHAT I will give up for LENT! I always give up "HUSBAND AND WIFE ACTIVITIES". Of course I get to give that up the OTHER 10 months of the year too!
     
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