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Old 11-24-2011, 09:15 PM
the_windwalker
 
Location: Holiday, FL
1,571 posts, read 2,007,133 times
Reputation: 1165
Quote:
Originally Posted by hawkeye2009 View Post
Tell the people with low incomes to do the following-

1. emphasize education, rather than athletics, to thier children
2. work harder
3. don't party all the time in high school
4. don't use drugs and alcohol
5. maintain two parent families
6. help your kids with their homework
7. spend less than you earn and live within your means
8. read


If you plan on being a beggar and relying upon the government, God help you. Take responisibility for yourself, bust your ass, and things will turn out well.

- Former trailer trash
From reading the posts, perhaps, the first thing to do, in order to come up with a solution, is identify exactly what "income inequity" is.

In 1960, the average income for semi-professional and non-professional jobs was $7060 a year. In 2010, the average income for those same jobs was $45,406. (source of information is athttp://msn.careerbuilder.com/Article...=JS_2146_home1) And, from another source,. the 2010 figure is about 25% too high. Unfortunately, I do not have the link to the other source.

According to another source, http://msn.careerbuilder.com/Article...=JS_2146_home1 executive income has gone up six times in just the last twenty years. Another words, an exec that is making $360,000 today, was only making $60,000 twenty years ago.

It says that executive pay went up an average of 30% each year for the last twenty years while middle-class America has only gotten an average of 12% each year for the last fifty years. And, we're not including bonuses or "Golden Parachutes".

One more area to look at, and this is from my own experience. In 1965 and 1966, I was making $8,000 a year. I was also paying 17 cents a gallon for gasoline. Just today, the current price of gasoline at the corner gas station at the corner is $3.599. To maintain the ratio between income and the cost of gasoline, today's average income should be about $170,000 a year.

In 1973, I was making $14,000 a year, and paying $51 every six months for car insurance. (And, supporting a wife and two kids, while buying a house for $10,000) The last premium I paid on car insurance came out to $147 a month. Back in 1973, the monthly cost was just $8.50. To maintain the ratio of income to car insurance premiums, today's average income should be about $240,000 a year. Want to check with IRS and see just how many "Average Americans" are actually making that much? And, the story is the same no matter what area of expense you look at, groceries, utilities, housing, etc.

That is what is "INCOME INEQUITY". What to do about it is the "$64,000 question". Solutions are sure to be as varied as the people that offer them, but now, you should be able to come up with a better informed opinion.

Now, with regard to the quote, by all means, give your kids every advantage you can. Stress education. Any kind of court record will hurt their chances for a successful career. But, keep in mind...

Let's say that 99% of the next generation gets a master's degree. (No, I don't think that's realistic) It's also not realistic to think that every one of them will get jobs where they will use that degree. There will be a number of them serving at Pizza Hut. A good education and a clean record does not give them a guarantee, but it does improve their chances at a comfortable life.
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