NetNews Usenet Archive 1992 #19/NN_1992_19.iso/spool/sci/econ/7345

Internet Message Format | 1992-09-03 | 2.0 KB

Xref: sparky sci.econ:7345 talk.politics.misc:43568
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From: [e-mail] (Daniel E. Platt)
Subject: Re: Supply-side economics
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Date: Thu, 03 Sep 1992 17:35:29 GMT
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In article <[e-mail]>, [e-mail] (Dave Dodson) writes:
|> In article <[e-mail]> [e-mail] (Stephen Sorensen) writes:
|> >A "majority" of Americans saw their real incomes decline through the
|> >eighties, which lasted ten years not four as indicated. The growth in
|> >income went to the top 20% of income-earners and most of that went to
|> >the top 5%.
|>
|> A newspaper article about the recent announcement of per capita income for
|> 1991(?) said this was the first time since 1982 that the increase in per
|> capita income was less than the rate of inflation.  Combining that statement
|> with yours would tend to indicate that most people fell further behind in
|> 1980 and 1981 (Carter budget) than they could catch up in 1982-1991 (Reagan
|> and Bush budgets), wouldn't it?
|>

There was also a recent news report (I saw it in clarinet, in the paper, and
on TV) indicating that people who started work in the '50s through '60s saw
a steady growth in income throughout their careers.  The demographics for
new earners since then show that, with fixed $'s, younger workers, started
at lower pay, suffered stagnant earnings during their middle years (late 30's
and 40's, and can expect decreases in their later years).  The area under the
curves (total $'s earned) was much much smaller for later earners compared to
the earlier generation.

Dan