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Thread: Personal Income down 3% +

  1. #1
    God/dess Deogol's Avatar
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    Default Personal Income down 3% +

    I expect it to go lower yet. And remember this is an average. A lot of people have seen it go down much much more!

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    Banned Melonie's Avatar
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    Default Re: Personal Income down 3% +

    That's a very interesting statistic, especially considering that it was put out by the gov'ts Commerce Dep't. The reason it is interesting is that the effect of gov't social welfare payments ( in presumbly all forms ) have not been included in their per-capita income calculation. Now if only they could do the same exclusion for workers receiving gov't paychecks !

    At any rate, a 3.4% decline in real income over the last year is not surprising. But even that excludes the fact that one dollar today arguably buys 3% less goods and services than it did a year ago thanks to inflation ( much worse for particular goods and services like gasoline and health insurance ). Also excluded is the fact that state and local tax increases have shrunken 'take home' paychecks and.or grabbed an extra 1% of purchasing power in the form of higher sales taxes. Thus the decline in real purchasing power has been much greater than the 3.4% 'gross' figure listed by the Commerce Dep't.

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