Maggie's Farm

We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.

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Tuesday, August 20. 2013

Do you notice this?

Do you notice the effects of this in your daily life? (Graph is h/t Theo)



Posted by The News Junkie at 11:59 | Comments (14) | Trackbacks (0)

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Since the economy is growing [albeit slowly], where did that rising income go?

The answer is pretty clear: higher taxes, including taxes disguised as 'fees'.

"No family making less than $250,000 a year will see any form of tax increase."

~ B.H. Obama, 9/12/2008
#1 Dr. Everett V. Scott (Link) on 2013-08-20 12:34 (Reply)
I am thinking it is more families with one or more people who have lost their job.
#1.1 Rick Caird on 2013-08-23 16:54 (Reply)
Yep - Our family income has increased steadily for 15 years, but we have far less spare spending cash now than we did 5 or 6 years ago.

I received a 10% raise early this year. After tax and the extra gas I have to purchase because I rarely work at home now... I'm right where I started the year.
#2 NJSoldier on 2013-08-20 12:51 (Reply)
Groceries seem to always rising, health insurance always rising, various bills seem to be getting new fees for this or that tacked on, haven't noticed much of a deeper tax bite but fees for copies of documents, etc are going up.
#3 walt moffett on 2013-08-20 13:32 (Reply)
My husband has not received a raise in over 2 years. I am self-employed, so my taxes are a nightmare. Worried that Obamacare will impact our health coverage and/or raise our taxes since we have a very good plan. Meanwhile, I'm thankful my kids won't be out in the working world until well beyond 2016. Hoping a Republican president can fix this mess....
#4 MissT on 2013-08-20 13:42 (Reply)
I own my own business. Business crashed in 2002, climbed back up till 2008, crashed in 2009, and has stayed down ever since. In other words, I mimic the chart. I'm so tired of sleepless nights. A lawyer friend of mind was describing the same thing, how, her firm now worries about paying the rent. Life is very very tough. I think a lot of people are smiling on the outside and truly scared on the inside.

Since I think that the Dems and the Republicans are basically the same, both committed to an ever-growing government that will continue to destroy the economy, I am afraid I don't put much hope in the economy turning around if a Republican is elected. They're all statists.
#5 Park Slope Pubby on 2013-08-20 13:58 (Reply)
Although I was not a huge Romney fan, just approving the pipeline project would've done a LOT for the state our of economy. Also, opening up federal lands to drilling. And any number of things that are being held back in this economy. Logging, coal mining, etc. The backbone of our workforce is being stifled.

These are areas that I can guarantee you a Republican administration would not snuff out. Republicans and Democrats are NOT the same. I really get annoyed when someone uses that excuse...as if voting doesn't matter, all politicians are corrupt, etc.

Not true.
#5.1 MissT on 2013-08-20 14:39 (Reply)
I wish you were right! I've voted Republican forever, but I increasingly feel like they're out for crony capitalists, and making themselves rich after they leave the government, just like the Democrats.

So both parties vote for legislation that supports big business and centralizes power. Big business loves power to be centralized in Washington, whether it's Republicans or Democrats. Democrats and Republicans put a little different spin on it, but, either way, the little guy (me) gets completely left out, no matter how many platitudes the Republicans mouthe about small business.
#5.1.1 Park Slope Pubby on 2013-08-20 17:01 (Reply)
There are many ways to goose the system. Removing regulations would be a great start.

However, a good friend of mine who is Cuban (parents left after Castro took over their tobacco biz), has altered his views on the Cuban embargo. As he says, the boost to our economy would be far greater than people realize, because right now we're just losing business to Canada, France and Britain. But the US has a much higher ratio of Cubans who are ready and able to work with Cuba.

A commentary on removing many other embargoes, where the situation may permit.
#5.2 Bulldog on 2013-08-20 15:03 (Reply)
As he says, the boost to our economy would be far greater than people realize, because right now we're just losing business to Canada, France and Britain. But the US has a much higher ratio of Cubans who are ready and able to work with Cuba.

For about the last 10 years, Cuba has been able to purchase food and medicine from the US for CASH. One estimate of Cuba's foreign debt is $72 billion. Another estimate is $32 billion - which excludes the $28 billion the former Soviet Union lent to Cuba. The US is getting CASH from Cuba, not IOUs. That is a better situation for us.

Cuba was once the leading sugar producer in the world. The sugar industry has collapsed. Trade with Cuba is a black hole, as Cuba lacks the productive capacity to pay for exports. The lack of productive capacity is not surprising in a country where El Líder Máximo wants no one to be rich- except himself and the rest of the Nomenklatura. Recall the old crack about the Puritan not being content if somewhere someone is happy. For Fidel, he is not happy if somewhere someone is rich- he and his family excepted, of course.

Regarding "the US has a much higher ratio of Cubans who are ready and able to work with Cuba"- I doubt that the Castro brothers want to work with GUSANOS. [worms]. As an example of the hostility that the Castro regime has towards US citizens of Cuban origin, I am reminded of the story of a fellow grad student, who left Cuba with her parents when she was about 7 years old. The department was going to send faculty and some grad students to some academic conference in Cuba. The appropriate passports were sent to the Cuban interests section. All visas were readily granted, with the exception of the student of Cuban origin. The department waited, but finally got the message and withdrew the student's name. This occurred circa 2000. approximately four decades after this student left Cuba.

Being a US citizen of Cuban origin is NOT an asset when it comes to dealing with Cuba- unless said citizen can fork over a lot of cash.
#5.2.1 Gringo on 2013-08-20 19:26 (Reply)
Agree with Park Slope Pubby. It seems the Dems and Reps are not all that different, in supporting the 5/3/1 percent who have "the power" and the rest of us are left to our own limited devices.
#5.3 Mark on 2013-08-20 22:25 (Reply)
Generally speaking, a lower median income isn't necessarily a bad thing - IF employment were growing consistently.

Let's put it this way, if the average income was $50,000 and unemployment was 10%, but you could get 1/2 the unemployed working again at $45,000 a year, then you'd probably support this concept. Right? But median income would fall to $49,700. Seems 'bad', but actually is quite good.

The problem, of course, is that median income is falling when employment is not rising. So fewer people are working, and those who are working are making less. This is indicative of a flawed economic policy - one which most here on Maggie's Farm have recognized for years.
#6 Bulldog on 2013-08-20 14:59 (Reply)
I make the same now as I did in 2000...., and 1990.... and 1970... and 1960..and 1950. Barely enough to get by on.
#7 BillH on 2013-08-20 15:41 (Reply)
I dislike graphs where the zero point isn't zero.
#8 Assistant VIllage Idiot (Link) on 2013-08-21 22:20 (Reply)

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