tag:blogger.com,1999:blog-5880610.post9053086504286005988..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: US income distributionSteve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-5880610.post-60791051049309626742013-02-09T11:06:33.880-05:002013-02-09T11:06:33.880-05:00On immigration - I submit for your consideration t...On immigration - I submit for your consideration that your ancestors actually did move from Europe to the U.S., but I suspect that you will not move from the U.S. to Europe?LondonYoungnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-18928249664102707942013-02-08T16:04:10.346-05:002013-02-08T16:04:10.346-05:00No, it wasn't. As late as the early 80s, skill...No, it wasn't. As late as the early 80s, skilled blue-collar workers could make as much as the engineers they worked for, especially since the engineers were salaried and the tradesmen could collect overtime. The neighborhood I grew up in was solidly middle-class, and I'd guess about a third of the householders didn't have college degrees, though most had better-paying jobs than Anthony_Anoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-10694579800235845422013-02-05T10:10:05.500-05:002013-02-05T10:10:05.500-05:00http://demographymatters.blogspot.com/2012/02/tren...http://demographymatters.blogspot.com/2012/02/trend-breakdowns-in-us-workforce.htmlBobdisqusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-28850202182070222152013-02-05T10:06:11.196-05:002013-02-05T10:06:11.196-05:00http://www.bls.gov/emp/ep_table_303.htmhttp://www.bls.gov/emp/ep_table_303.htmBobdisqusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-9857050227939528292013-02-05T10:03:20.905-05:002013-02-05T10:03:20.905-05:00http://research.stlouisfed.org/fred2/series/CIVPAR...http://research.stlouisfed.org/fred2/series/CIVPART/Bobdisqusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-49388449645633672732013-02-05T09:38:31.116-05:002013-02-05T09:38:31.116-05:00http://www.businessinsider.com/maps-that-explain-t...http://www.businessinsider.com/maps-that-explain-the-world-2013-2#change-in-median-household-income-since-2007-gains-are-concentrated-in-the-shale-and-farm-rich-regions-23Bobdisqusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-41707392126499728112013-02-03T23:28:48.787-05:002013-02-03T23:28:48.787-05:00And when health care costs in the US are measured ...And when health care costs in the US are measured in outcomes rather than $s? And when mortagage payments are subtracted from the rent avoided? And what % of the budget is foodstamps?gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-25489720231884096582013-02-03T22:48:09.546-05:002013-02-03T22:48:09.546-05:00"First of all, the GINI index has not been in..."First of all, the GINI index has not been increasing since 1950. It hit <br />an all-time low in 68 or 69 and the strong upward trend did not begin <br />till ~1980." You are correct.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-16659961126219621282013-02-03T14:27:12.339-05:002013-02-03T14:27:12.339-05:00Tiny note - this particular data is based on self-...Tiny note - this particular data is based on self-reported income. The census bureau believes it reasonably captures wages and salaries, but all other income is known to be severely under-reported. So, employer provided health insurance, food stamps, medicare/medicaid benefits, section 8 housing, free cell phones (below a certain income threshold everyone in the U.S. is entitled to a free cell LondonYoungnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-54987273714150153342013-02-03T13:04:18.737-05:002013-02-03T13:04:18.737-05:00First of all, the GINI index has not been increasi...First of all, the GINI index has not been increasing since 1950. It hit an all-time low in 68 or 69 and the strong upward trend did not begin till ~1980. <br /><br />The common story behind the stagnation of real wages and the increase of GINI is the success of the "capitalist revolution". Top income tax brackets were repeatedly lowered, capital gains were given preferential tax esmithnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-21199566424355808862013-02-03T06:04:13.403-05:002013-02-03T06:04:13.403-05:00Sorry. The stagnation of real wages in the US sinc...Sorry. The stagnation of real wages in the US since 1980 and the increase in the GINI since 1950. Wages for the merely college educated (what did they study?) have gone up but not by much according to <a href="http://economistsview.typepad.com/economistsview/2006/11/janet_yellen_ec.html" rel="nofollow">this<\a>.</a>gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-56760069969349243752013-02-02T10:12:55.934-05:002013-02-02T10:12:55.934-05:00What trend? College education was always part of t...What trend? College education was always part of the definition of the middle class. College educated people always earned more than factory workers and burger flippers.esmithnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-70101072189701531572013-02-02T01:26:41.083-05:002013-02-02T01:26:41.083-05:00"Multiple incomes should not be needed to be ..."Multiple incomes should not be needed to be middle class."And they didn't used to be. Thank you elite.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-30832797836085204542013-02-02T01:23:27.363-05:002013-02-02T01:23:27.363-05:00It's the old "doesn't affect me"...It's the old "doesn't affect me". The trend has nothing to do with "real" people. Wait until Elon Musk clones himself ;) You and your Moscow State betters will be despicable moochers. For more read this this. It's be a man smarter than both of us but at the same time a pathetic loser and murderer.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-74263076768112220562013-01-31T12:13:03.232-05:002013-01-31T12:13:03.232-05:00The problem with the graph is that many of the peo...The problem with the graph is that many of the people in the $200,000 per year category are actually people middle class people or even poor. How is that possible? A low income person moves into a high crime area buying a house for $50,000. 40 years later the area gentrifies and a house that was worth $50,000 is now sold for $500,000. They retire and sell the house. They get a $250,000 LX5noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-73202150926609921982013-01-30T14:57:24.864-05:002013-01-30T14:57:24.864-05:00But it increases GDP how could it not be the best ...But it increases GDP how could it not be the best thing ever for America help me understand.tractalnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-2750684556403046662013-01-30T12:07:54.340-05:002013-01-30T12:07:54.340-05:00Indeed.
"Seeber is just one high-tech worker...Indeed. <br />"Seeber is just one high-tech worker who's been a victim of outsourcing, in which <br />jobs like computer programming are transferred overseas to countries such as <br />India and China. ... is the United States, so long dominant in the field of <br />computer science and programming, finally losing its edge because of it? Is this <br />the beginning of a downward spiral,esmithnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-41837815662082918602013-01-30T10:48:36.481-05:002013-01-30T10:48:36.481-05:00Looks like an F-statistic, yes? Except for the odd...Looks like an F-statistic, yes? Except for the oddity at the high end. It can be fixed by adding more categories of income. http://images.flatworldknowledge.com/shafer/shafer-fig11_011.jpgEmil Kirkegaardnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-6356940035968353832013-01-30T10:11:42.526-05:002013-01-30T10:11:42.526-05:00I dislike household income as a measure of economi...I dislike household income as a measure of economic wellbeing as it hides the social disruption of the % of that number from the primary earner. Multiple incomes should not be needed to be middle class. Yes, Steve things are bleaker than you think. Your Murray bubble distortion field is thick. The outsourcing to low wage countries that has been felt so painfully in manufacturing now Bobdisqusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-4974768571868769442013-01-30T09:16:06.641-05:002013-01-30T09:16:06.641-05:00Here are some different ways of looking at similar...Here are some different ways of looking at similar data.<br /><br />http://politicalcalculations.blogspot.com/2007/06/distributing-income-by-age-group-in-us.html#.UQkqOWfymK0<br /><br />http://m.townhall.com/columnists/politicalcalculations/2013/01/27/visualizing-the-2012-distribution-of-income-in-the-us-by-age-n1498712<br /><br />The distribution looks more normal if you focus down on specific Corneliusnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-19899233327404631882013-01-30T08:30:02.850-05:002013-01-30T08:30:02.850-05:00Does this include welfare transfers to low income ...Does this include welfare transfers to low income households?bob sykesnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-61610224654733325632013-01-29T20:39:15.839-05:002013-01-29T20:39:15.839-05:00The peak is an artifact of the linear income scale...The peak is an artifact of the linear income scale. If you restrict to 45-64 year old householders and switch to log scale, you'll get a bell curve with the peak near 70-80k. If you dig down deeper by excluding nonfamily households (i.e. single people) and restricting to families where at least one person has a college degree (part of a standard definition of "middle class", cuts esmithnoreply@blogger.com