Re:Share of Income Gains by Quintile - Great Depression til Now
by mistermann on Friday September 09, 2011 @04:42PM
(#2979758)
Furthermore, running $1 trillion deficits helps.
$1 trillion / 153 million workforce
= ~$6500 / worker
= $13,000 per household
It's not too hard to imagine that somehow this money tends to flow moreso towards people in the upper quintile (straight wage-earners would miss out, whereas the investing class has many avenues to receive it), so it wouldn't surprise me at all that 1 household could end up with their "share" plus that of 2 others, so:
$13,000 * 3 = $39,000 household income based on govt deficit spending
$112,541 - $39,000 = $73,500 household, /2 = 36,500 per person in "real", non-deficit enhanced earnings required to make the top quintile.
Made up entirely, but I don't think it is an unrealistic scenario at all. The enormous deficits we are now running can go a long way in hiding the truth for a very long time. Meanwhile, the debt grows and grows, and the interest on that debt gets larger every year. I just don't see how debt is inconsequential, but the vast majority of people seem to act as if it is (at least those who are even aware of it).
$1 trillion / 153 million workforce = ~$6500 / worker = $13,000 per household
It's not too hard to imagine that somehow this money tends to flow moreso towards people in the upper quintile (straight wage-earners would miss out, whereas the investing class has many avenues to receive it), so it wouldn't surprise me at all that 1 household could end up with their "share" plus that of 2 others, so: $13,000 * 3 = $39,000 household income based on govt deficit spending $112,541 - $39,000 = $73,500 household, /2 = 36,500 per person in "real", non-deficit enhanced earnings required to make the top quintile.
Made up entirely, but I don't think it is an unrealistic scenario at all. The enormous deficits we are now running can go a long way in hiding the truth for a very long time. Meanwhile, the debt grows and grows, and the interest on that debt gets larger every year. I just don't see how debt is inconsequential, but the vast majority of people seem to act as if it is (at least those who are even aware of it).