1% in WNY

[jackfengshui]

The Occupy Movement highlights the growing income disparity in this country. According to the New York Times, this is the distribution in annual household income in Buffalo:

• Top 1% $308,011
• Top 5% $157,600
• Top 10% $122,800
• Top 25% $81,480
• Top 50% $46,376
• Bottom 25% $22,849
• Bottom 10% $10,800

[jackfengshui]

More about the '"winner-take-all" shift in wealth here.

The wealthiest 1% of Americans saw their incomes skyrocket by 275% from 1979 to 2007, while after-tax income for the one-fifth of households with the lowest income grew by just 18% in the same period.

[malonely]

That's not to mention the double digit percentage increase in health insurance premiums. That increase also includes higher co-pays or higher deductibles so we are paying much more for less coverage. Increases in food and fuel costs also take a lot higher percentage bite out of our after tax income.

Lower pay, higher costs what to hell are they complaining about?

[JONBALLS]

lifes not always fair, sometimes you have to choose between hookers or healthcare..

[malonely]

one can sometimes lead to the other

[DDarkness]

Originally Posted by malonely

one can sometimes lead to the other

OMFG

What You Talkn Bout Willis???

DD

[Deepthinker]

Originally Posted by malonely

That's not to mention the double digit percentage increase in health insurance premiums. That increase also includes higher co-pays or higher deductibles so we are paying much more for less coverage.

Lower pay, higher costs what to hell are they complaining about?

Well, for me and my staff, the healthcare premiums hurt me much more than them. Whereas their copays may have gone from $10 to $25, the cost I pay for their insurance has gone from about $3500 per year to $12000 per year for a family plan. Sometimes I wonder if they appreciate that....

[roscoe14850]

Originally Posted by Deepthinker

Well, for me and my staff, the healthcare premiums hurt me much more than them. Whereas their copays may have gone from $10 to $25, the cost I pay for their insurance has gone from about $3500 per year to $12000 per year for a family plan. Sometimes I wonder if they appreciate that....

People rarely know, or care to know what their employer contributes. You are in a no-win DT.

[offshoredrilling]

That rise in health care. I wounder how much of that ends up to pay for them that can not pay. As they can not find a job. And how many that have workers will not hire more as the cost of a new hire is more than any gain that could be had.

employers and employees are both getting screwed.

[jackfengshui]

Originally Posted by Deepthinker

the cost I pay for their insurance has gone from about $3500 per year to $12000 per year for a family plan.

Sorry for hijacking my own thread, but this speaks volumes about our need to stop denying about our national healthcare crisis and start doing something concrete about it. Healthcare is costing us twice as much per person as other countries. Our system of receiving heath coverage through employment is insane. Conscientious employers are paying through the nose. It is killing our national competitiveness. It hinders career mobility. And yet many people in the middle are not even covered, and are one serious illness away from going broke. Also, because we insist that healthcare should be supplied by the "free market", there is no cost control, and some suppliers, service providers and middle men are making out like bandits.

I give the current administration credit for at least attempting to fix it. The plan that was passed (but vilified by many) might not be the ideal solution (partly because of the need to placate so many sides). I just wish that we can stop the partisan bickering and come up with something that would provide universal coverage and control costs.

[montana1958]

Originally Posted by jackfengshui

The wealthiest 1% of Americans saw their incomes skyrocket by 275% from 1979 to 2007, while after-tax income for the one-fifth of households with the lowest income grew by just 18% in the same period.

Not to start a class warfare debate but I saw on msnbc of all places a report that I don't think they even knew what they were suggesting how the lower 50% income level stopped trying and was looking for more and more hand-outs/assistance from the government and how their lack of desire to succeed played into the income disparity. We all know that unemployment is higher than reported and nothing will change until people start spending again. It's a viscious cycle that for now looks like it will continue. I thought our current president was supposed to unite this country and the world. When was the last time he said anything to get us started in that direction. Don't get me wrong as I have developed a distrust for all politicians these past four years. I have heard this and agree that one of the biggest problems this coutry faces today is the media and how news gets reported in a very biased way. In the history of this country the main st media always reported on all news good or bad. Now stories are run like advertisements for their party. I for one believe this plays into the income disparity we all see and hear about. imho

[jackfengshui]

Montana, how many people in the lower brackets are there by "choice" or by "circumstance" is certainly a valid question. But I wonder whether it is good to have a system that appears to favor a very small minority at the very top, not necessarily because they are smarter or work harder than others, but simply because of the rules of the game.

[montana1958]

If you take away the ones who inherited their wealth, my belief is the rest earned what they did because of the capital system this country evolved into many many years ago and with ideas they created that would have never happened in any other country. It may not be perfect but is the best in the world. As for health care costs, most of the medical research comes out of this country. We as a nation pay for this with higher insurance premiums while the rest of the world benefits from the medical breakthroughs. Not fair but that’s part of what makes this country great and allows for wealth to be rewarded for hard work and inventions. I know anyone who works pays social security and Medicare taxes and we all pay sales tax and anyone who owns a house pays real estate taxes, or rents pays a landlord the R/E taxes, but until everyone pays a share of the federal budget this country will remain divided. Right now almost 50% of Americans pay no income tax. Until we all have some skin in the game, many could care less that our deficit is 1.5 trillion per year and no stopping in sight. When they talk about cutting 4 trillion over 10 years it is off a 15 trillion number. So for the next 10 years our countries deficit will go from 16 trillion to 27 trillion and the media reports this as a great thing. Sorry Jack, I don’t think it’s the rules of the game that put us where we are. im very ho. And sadly I don't see our politicians stepping up any time soon. The media could change our path but even less likely.

[offshoredrilling]

Almost 50%. Hell are government looks to want to make it that 75% pays no income tax. Rather than find ways to make more pay.

[montana1958]

Originally Posted by offshoredrilling

Almost 50%. Hell are government looks to want to make it that 75% pays no income tax. Rather than find ways to make more pay.

So right OSD.

I know I may be part of a small minority that doesn't want the reduced Social security rate to continue into this year. I didn't agree with it last year. So the answer to a recession is to defund our national retirement program that all agree is on it's last leg going bankrupt in 10/12 years. It's actually bankrupt now. The amount being paid out to the deserving senior citizens this year will be more than what we take in. They claim there is a large surplus out there to cover all this but who really believes that. Lets have some reporters look into the numbers and have a TV special informing us where this country is really at.