Report: 'No Labor Market Recession for Affluent' (unemployment rate, Congress, Obama)

[TigerLily24]

Very interesting findings:

"Though the national unemployment rate dipped slightly in January to 9.7 percent, a new study suggests that not only have low-income workers been the hardest hit by the jobs crisis -- but, shockingly, there has been "no labor market recession for America's affluent.""

'No Labor Market Recession For America's Affluent,' Low-Wage Workers Hit Hardest: STUDY

Bob Herbert's comments here:

Op-Ed Columnist - The Worst of the Pain - NYTimes.com

Full report here:

Labor_Underutilization_Problems_of_U

[mossomo]

Originally Posted by TigerLily24

low-income workers ... America's Affluent

I want you to focus on the first. Low-Income Workers. By the very nature of the definition, they are the worker bees.

Now America's Affluent, aka the rich, they create JOBs. When the economy contracts, they are taxed too much or there is increased risk in a market, the rich will create less jobs.

[texdav]

Well it alos shows that the unemployemnt of those with a college degree is at a little over 5% while it was 10% for those with a degree. What does that tell you the answer really is to employemnt in this changing world. The real affulent never lose their jobs because they employ themselves or in a posiiton that is based on perfromance purely. They can be fired at will.

[allydriver]

Good news for us that Obama and the 237 millionaires in congress will be safe.

[delusianne]

Originally Posted by mossomo

I want you to focus on the first. Low-Income Workers. By the very nature of the definition, they are the worker bees.

Now America's Affluent, aka the rich, they create JOBs. When the economy contracts, they are taxed too much or there is increased risk in a market, the rich will create less jobs.

Oh, is that what happened?

[TigerLily24]

Originally Posted by mossomo

I want you to focus on the first. Low-Income Workers. By the very nature of the definition, they are the worker bees.

Now America's Affluent, aka the rich, they create JOBs. When the economy contracts, they are taxed too much or there is increased risk in a market, the rich will create less jobs.

Taxed too much? They are the ones who got all the tax cuts courtesy of the last administration. I thought that was supposed to result in more jobs, not fewer.

[Quick Enough]

Originally Posted by TigerLily24

Taxed too much? They are the ones who got all the tax cuts courtesy of the last administration. I thought that was supposed to result in more jobs, not fewer.

Hello!! Anybody home?

the tax cuts were ACROSS the board.

[TigerLily24]

Originally Posted by Quick Enough

Hello!! Anybody home?

the tax cuts were ACROSS the board.

Perhaps, but people sure didn't benefit equally:

"The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline.
Based on an exhaustive analysis of tax records and census data, the study reinforced the sense that while Mr. Bush’s tax cuts reduced rates for people at every income level, they offered the biggest benefits by far to people at the very top — especially the top 1 percent of income earners."

http://www.nytimes.com/2007/01/08/washington/08tax.html

And how about that income gap:

"The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980."

http://www.nytimes.com/2007/03/29/business/29tax.html

Aided, no doubt, by those generous, unfunded tax cuts.

[AeroGuyDC]

Originally Posted by TigerLily24

Very interesting findings:

"Though the national unemployment rate dipped slightly in January to 9.7 percent, a new study suggests that not only have low-income workers been the hardest hit by the jobs crisis -- but, shockingly, there has been "no labor market recession for America's affluent.""

'No Labor Market Recession For America's Affluent,' Low-Wage Workers Hit Hardest: STUDY

Bob Herbert's comments here:

Op-Ed Columnist - The Worst of the Pain - NYTimes.com

Full report here:

Labor_Underutilization_Problems_of_U

It goes to show that a basic education matters, a higher education is even more beneficial, and that high-acheivers do get their reward in the end. I've not been jobless (unintentionally) in my whole working career. I suppose I could be counted in the group studied. I suppose you could also say i've earned it, although I am sensitive to the plight of others who have lost jobs presumably through no fault of their own.

[HappyTexan]

Yup..another report about those nasty rich people.

Don't you see all these reports are just propaganda ? Sway the people..get them thinking a certain way. Once you get them "on your side" then you have the backing to make changes.

Don't fall for it folks..don't fall for it. This sudden hatred of "rich" people is pointing to a road that leads to socialism. We go down that road and innovation is dead.