Is the solution to just kick them down the stairs?
Read the article and see the charts here.
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Wood, You fell for that crap? Tell me what’s wrong with the chart? Or maybe all of those old mama bears ARE out to eat your flesh…
Yogi, help me out. I’ve looked at the charts a half dozen times…I’m not seeing what you’re seeing, I don’t think?
OK, look at the red line. It’s only looking at wages. Much of the growth of income over the past 30 years has been non-wage income (dividends, capital gains, stock options of tech companies, etc.). Real wage growth has lagged total income growth, and tax policy over that time giving preferential treatment to cap gains and dividends has widened the differential.
I guess it’s like saying the pie’s getting bigger, but we’re only going to show the crust. BTW, I enjoyed the title and the Cashin humor.
You’re right. I see. Also, I believe that the transfer payment increases are primarily a result of expanding the welfare/SNAP roles and not necessarily due to expanding the number of retirees. That is a gut feeling. Could be wrong.
Another thing I thought of while nodding off, was welfare reform both in the 1980’s and 1990’s increased the incentives to work with the Earned Income Tax Credit and lowered other welfare expenditures. I don’t know how much it affected the chart, but EIC has grown over the intervening.
I’ve started to find a lot of this stuff lately. I don’t know if it’s sloppiness, spin, or both. It’s one of the reasons I turn off the “financial news”. Lots of politics and garbage, and not much useful to my trading. I don’t bank coin on spin.
lol