Polls: Economy Not So Great

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@LouD17624 wrote:

What is the Arithmetic Mean?

 

 

Zucman’s calculations show that the top 0.1% of the U.S. population possesses close to 20% of the wealth in the country—more than the bottom 80% of the population combined. When expanded to the top 10%, the share of the pie continues to grow: they own more than 70% of wealth in the country, or twice that owned by the bottom 90%.

 


Great post Lou.    Income and wealth disparity has reached levels not seem since the 1700's, part of 'make America great again", I guess.

 

Half of working Americans make $30,000 or less annually, lurking just above poverty level. if things continue down this same path, it will get worse, the middle class is in danger of shrinking to next to nothing.


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What is the Arithmetic Mean?

 

The arithmetic mean is another name for the mean or the average. When someone talks about the mean of a data set, they are usually talking about the arithmetic mean (most people just drop the word “arithmetic”). It’s called a different name to set it apart from other means found in math, including the geometric mean.

 

The mean is influenced by outliers , so it isn’t always a good indicator of where the middle of a data set is. For data sets that have either a lot of low values or a lot of high values, the median is often a better way to describe the “middle.”

 

 

 

 

 

Until people grasp the differences among these terms discussing the economy is pretty much pointless.

 

Mean, Median, Mode: What They Are, How to Find Them

 

  1. All about the…
  2. How to find the mean, median and mode by hand.
  3. Find the mean, median and mode with Technology:
Overview

Stuck on how to find the mean, median, & mode in statistics?

  1. The mean is the average of a data set.
  2. The mode is the most common number in a data set.
  3. The median is the middle of the set of numbers.

Of the three, the mean is the only one that requires a formula. I like to think of it in the other dictionary sense of the word (as in, it’s mean as opposed to nice!). That’s because, compared to the other two, it’s not as easy to work with.

Hints to remember the difference

Having trouble remembering the difference between the mean, median and mode? Here’s a couple of hints that can help.

  • “A la mode” is a French word that means fashionable and it also refers to a popular way of serving ice cream. So “Mode” is the most popular or fashionable member of a set of numbers. The word MOde is also like MOst.
  • The “Mean” requires you do arithmetic (adding all the numbers and dividing) so that’s the “mean” one.
  • “Median” has the same number of letters as “Middle”.

 

Still aren’t sure what the difference is between the three? Watch the video or read on for more info:

     

https://www.statisticshowto.datasciencecentral.com/probability-and-statistics/statistics-definitions...

 

America's Humongous Wealth Gap Is Widening Further

 

https://www.forbes.com/sites/pedrodacosta/2019/05/29/americas-humungous-wealth-gap-is-widening-furth...

 

Federal Reserve officials love singing the economy’s praises these days, throwing out terms like "full employment" and "remarkably positive" with abandon.

However, new research from the Fed itself shows the health of the economy is truly in the eye of the beholder.

In other words, distribution is everything. A steady economic expansion and historically low jobless rate can mask deep inequalities in income and wealth that leave American families in vastly different financial situations.

 

The Fed’s report shows, among other things, that the poorest 50% of Americans are literally getting crushed by the weight of rising inequalities.

 

"The top 10% of the wealth distribution—the purple and green areas together—hold a large and growing share of U.S. aggregate wealth, while the bottom half (the thin red area) hold a barely visible share," Fed economists write in a paper outlining the new data set on inequality, which is more timely than exisiting statistics.

 

 

The 400 Richest Americans Own a Greater Share of Wealth Than the Bottom 150 Million

 

https://fortune.com/2019/02/08/growing-wealth-inequality-us-study/

 

Wealth inequality is alive and well in the U.S.—and it’s only getting worse.

According to a new working paper on the topic by University of California at Berkeley economist Gabriel Zucman, wealth is distributed even more unevenly than that of income.

 

Zucman’s calculations show that the top 0.1% of the U.S. population possesses close to 20% of the wealth in the country—more than the bottom 80% of the population combined. When expanded to the top 10%, the share of the pie continues to grow: they own more than 70% of wealth in the country, or twice that owned by the bottom 90%.

 

 

 

 

 

 

 

 

 

 

 

“What’s a high crime? How about if an important person hurts somebody of low means? It’s not very scholarly. But I think it’s the truth. — Lindsey Graham
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@easyed598 wrote:

Snoopy wrote-Not if expenses go up more than taxes decrease which is what is happening with trump's trade war.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Haven`t notice this and actually seem prices have gone down in 2019. (especially true if you are a smart shopper and using Amazon deals,coupons ,fuel points etc.)

Chasky wrote-another unsubstantiated claim.-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Just telling you what works for me. You are the one always crying poor mouth.

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@easyed598 wrote:

Snoopy wrote-Not if expenses go up more than taxes decrease which is what is happening with trump's trade war.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Haven`t notice this and actually seem prices have gone down in 2019. (especially true if you are a smart shopper and using Amazon deals,coupons ,fuel points etc.)

Chasky wrote-Another unsubstantiated claim-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Just telling you what works for me-You are the one who is always cries poor mouth

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@easyed598 wrote:

Snoopy wrote-Not if expenses go up more than taxes decrease which is what is happening with trump's trade war.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Haven`t notice this and actually seem prices have gone down in 2019. (especially true if you are a smart shopper and using Amazon deals,coupons ,fuel points etc.)


Another unsubstantiated claim.


"The only thing man learns from history is man learns nothing from history"
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William wrote-If you notice the title of Jim's WH graph, 

how do non profits figure in this if we are discussing personal wealth for the bottom 50% of households-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------There has been always been a bottom 50% and a top 50%  so what news? The good news for the bottom 50% is they pay liuttle or no Federal tax and many receive government assistence(thanks to the top 50%)

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Snoopy wrote-Not if expenses go up more than taxes decrease which is what is happening with trump's trade war.------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Haven`t notice this and actually seem prices have gone down in 2019. (especially true if you are a smart shopper and using Amazon deals,coupons ,fuel points etc.)

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If you notice the title of Jim's WH graph, 

how do non profits figure in this if we are discussing personal wealth for the bottom 50% of households?

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@NOTHAPPENING wrote:

@ManicProgressive wrote:

@NOTHAPPENING wrote:

@ManicProgressive wrote:

I was talking to two administrative aides where I work.  They said this economy is not booming for them or their husbands. They are solidly middle class.  Stock is skyrocketing, but they don’t own stock. Gas prices are up. Food prices are up. Rent is up. Prescription drugs are up.

 

i find it interesting that food costs are up but our farmers made $11.8 billion less in the first quarter of 2019.  Why is that?

 

 


The economy is booming for most people. There is one exception: if you live in a blue state (with high income, real-estate, and sales tax) and you previously wrote off in excess of $10,000 (in state taxes) on your federal income taxes, now you must settle on the $10,000 limit.  Every person who doesn't have this situation and actually paid some federal income taxes is doing better with the new tax rates.


A person’s tax situation may make them “feel” like they have more or less money, but it doesn’t affect income. 


"Feel" has nothing to do with if you have more money. Money saved = money earned - taxes paid - expenses. If taxes are less (for those that paid taxes), then you have more money saved. Income I assumed is the same for each year.


Not if expenses go up more than taxes decrease which is what is happening with trump's trade war.

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Since when does the President of the United states contol the stock market? Why is that a measure of an average citizens wealth? Its a measure of corporate wealth, and maybe, maybe after they pay the shareholders and boards of directors, some may trickle down thier leg to the average worker. Point is, wages have not risen like the stock market has. We are not taxing earinings on the growth of the market like we are the little people who pay all the taxes in this nation.

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