Re: The 'working poor' scam

From: Gordon Gekko (nospam_at_nospam.com)
Date: 06/05/04 

Date: Sat, 05 Jun 2004 21:28:15 GMT

"Sheesh" <passedout@3.am> wrote in message
news:Xns94FF7FD89F0Sheesh@24.94.170.88...
> HHH@hotmail.com (SON OF HARRY HOPE) wrote in
> news:40be3813.17835884@news.sf.sbcglobal.net:
>
> >
> > An absolute majority of the people who were in the bottom 20 percent
> > in income in 1975 have since then also been in the top 20 percent.
> >
>
> What a load of crap.
>
> You don't actually believe that statement do you?

I believe it, easily. Say a guy graduates high school in 1975 and gets a
job as a basic laboror. He might be carrying 2x4's for minimum wage.
Eventually, he will become a apprentice, journeyman, and finally professioal
tradesman. He will get a bump in salary each step along the way.
Carpenters, plumbers, electricians, and the like do very well. Right now,
it would only take like, what, $60,000 or so per year to be in the top 20%?
$150,000 is the top 1%, so top 20% should be easily reachable for someone
who kept at a trade of one sort or another.

Meanwhile, there are new grads every year moving into the bottom 20%.

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