Re: The 'working poor' scam

From: Grinch (oldnasty_at_mindspring.com)
Date: 06/13/04 

Date: Sun, 13 Jun 2004 03:45:19 GMT

On Sat, 05 Jun 2004 21:28:15 GMT, "Gordon Gekko" <nospam@nospam.com>
wrote:

>
>"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%.

Sure. A NYC public school teacher moves through all five quintiles by
the union pay schedule via seniority over a career. Two married to
each other wind up at the top 5% level, the accursed rich. (Not too
bad for working 6.5 hours a day 180 days a year with a paid sabbatical
year off.)

More generally as to the larger US population, Census figures for
median family income with a family head age...

[] under 25: $26,000, second income quintile
[] 50 to 54: $69,100, fourth income quintile

So the median family steps through the middle three quintiles and
moves up and well into the second highest just as a matter of age.

It's the income distribution version of the Lake Woebegon effect,
those at the median get to be well above median over time.

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