Re: The 'working poor' scam

From: sinister (sinister_at_nospam.invalid)
Date: 06/07/04 

Date: Mon, 07 Jun 2004 10:57:56 GMT

"Gordon Gekko" <nospam@nospam.com> wrote in message
news:PVqwc.14160$Yd3.4906@newsread3.news.atl.earthlink.net...
>
> "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%.

Yes, but as has been pointed out repeated in this ng, this kind of income
mobility (that due to "aging") is uninteresting and should be factored out
of any analysis.

>
>

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