Rising inequality and shrinking opportunity, not so fast

If you are sick of hearing politicians, particularly the current crop of presidential candidates, continue to talk about the 'inequality' of income here in the United States, you may be interested in this article which says:  "We'd refer those campaigns to a new study of income mobility by the Treasury Department that exposes those claims as so much populist hokum." (Opinion Journal, hat tip Internet Radio Network)

OK, "hokum" is our word. The study, to be released today, is a careful, detailed piece of research by professional economists that avoids political judgments. But what it does do is show beyond doubt that the U.S. remains a dynamic society marked by rapid and mostly upward income mobility. Much as they always have, Americans on the bottom rungs of the economic ladder continue to climb into the middle and sometimes upper classes in remarkably short periods of time.

The Treasury study examined a huge sample of 96,700 income tax returns from 1996 and 2005 for Americans over the age of 25. The study tracks what happened to these tax filers over this 10-year period. One of the notable, and reassuring, findings is that nearly 58% of filers who were in the poorest income group in 1996 had moved into a higher income category by 2005. Nearly 25% jumped into the middle or upper-middle income groups, and 5.3% made it all the way to the highest quintile.

Of those in the second lowest income quintile, nearly 50% moved into the middle quintile or higher, and only 17% moved down. This is a stunning show of upward mobility, meaning that more than half of all lower-income Americans in 1996 had moved up the income scale in only 10 years.

Also encouraging is the fact that the after-inflation median income of all tax filers increased by an impressive 24% over the same period. Two of every three workers had a real income gain--which contradicts the Huckabee-Edwards-Lou Dobbs spin about stagnant incomes. This is even more impressive when you consider that "median" income and wage numbers are often skewed downward because the U.S. has had a huge influx of young workers and immigrants in the last 20 years. They start their work years with low wages, dragging down the averages. (continue reading)

Debunking is a good thing!

Also see: 

"American Woman Detained By U.S. Authorities In Ukraine On Phony Charges" at Cristy Li.com

Jeanette Runyon, a Mother, Wife and Conservative American Journalist went to the Ukraine to provide a better life for a child in the United States.

The new born girl was delivered just before Jeanette arrived into the Ukraine by a Surrogate Mother who signed away all the rights of the child so that Jeanette could provide for a new and better life for the new born. Surrogacy is legal in the Ukraine and upon delivery of the child, a birth certificate was issued with Jeanette's husband's name listed as the father.

The Man Who Bombed Hiroshima
The Independent Institute

The man who flew the plane that dropped the atomic bomb on Hiroshima passed away last week at the age of 92. Paul Warfield Tibbets, Jr. did not die from war wounds or violently at the hands of other people, years before his time. He died in hospice care, in a bed, from heart problems and strokes.

The US lambastes Iran and Syria but supports them economically, By Ted Belman at Israpundit

World Bank is funding nine government projects in Iran totaling $1.355 billion—one of which operates in Isfahan, the headquarters of Iran’s nuclear program.

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Trackposted to Perri Nelson's Website, The Virtuous Republic, Blog @ MoreWhat.com, Rosemary's Thoughts, guerrilla radio, The Populist, , Big Dog's Weblog, Leaning Straight Up, The Amboy Times, The Bullwinkle Blog, Cao's Blog, Adeline and Hazel, third world county, Woman Honor Thyself, Pirate's Cove, The Pink Flamingo, Dumb Ox Daily News, Right Voices, and Gone Hollywood, thanks to Linkfest Haven Deluxe.

Comments

[Americaneocon]

Nice posting, Debbie!

[Rosemary]

How can this happen when we have sanctions on them? Only in the freakin' gov't who tells us (the stupid people, ya see) that it's just too complex.

Whenever I hear the word 'complex', I know one of a few things:

1. They are lying.
2. They don't want to talk about it.
3. They don't have a clue.

My God, are we in trouble? No. Not as long as we all have our own weapons.

[Angel]

thanks Deb..how on earth do u stay on top of all these topics girl! Have a super weekend my friend!:)