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‘Real News From The Blaze’: Two Decades of Income Progress Lost?

Sep. 13, 2012 9:40pm Christopher Santarelli

The U.S. Census Bureau report released this week shows that the typical U.S. household saw income fall last year to 1989 levels. Liberal economists blame the growing income gap on the decline of labor unions and a minimum wage that doesn’t keep pace with inflation, conservative economists point to an increase on government dependency and a huge debt crisis. The Fed hoped to split the difference Thursday, moving forward with another round of stimulus – QE3. The stimulus is not met with cheers from all economists on both sides of the aisle though, as some claim the action will have the opposite effect of what is intended, and further efforts driving interest rates lower could lead us into “liquidity trap.”

On “Real News From The Blaze” Will Cain broke down revelations from the census report, and the panel debated why household income has stagnated in the U.S. over the last two decades:

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Comments (24)

voting-for-romney
Posted on September 14, 2012 at 6:13am
It would be interesting to see the economic computer models or simulations if you ran current numbers with the following goals?

1. State and local flat tax rates not to exceed 10%
2. Federal corporate and income tax rates not to exceed 10%
3. Inflation not to exceed 2.5%
4. No credit terms can exceed 7 years

It would be interesting to see a network of businesses not only figure out how to make a transition to those numbers if they works as well as I suspect they would, but do so without violating the civil rights of anyone? How many decades would it take?

Why I am appalled at families loosing income, what can we do?

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Hope07
Posted on September 14, 2012 at 1:31am
I got that Globalization and Technology are the culprits, and I agree with Will. And Education needs retooled. So I found this very Sad, because Goverment has been feeding Folks Credit to hide this reality. And for the last 20 years! So yeah, Many boomers probably won,t ever be able to retire. But the schools have,ntt been retooled? So how long will this be? UGH, This is UGLY,

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soybomb315_II
Posted on September 13, 2012 at 10:21pm
its not hard to understand – it’s called shadow inflation. It eats away at our standard of living. Both parents work (or try to) whereas it used to be just one parent – for the same effective pay.

Culprit: Federal Reserve and overspending by Washington

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- pissantno.10
  Posted on September 13, 2012 at 10:27pm
  god i hate to say this but ya you are right soy bean
  
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- DarkJello
  Posted on September 13, 2012 at 10:27pm
  You nailed it. We, the addicted consumers, are to blame.
  
  Too many of us cannot find Libya on a map. Egypt is like by the Red Sea or something… Our education is relative poop. Is it any wonder Obama has a good chance of winning, in spite of lie after lie and failure, after failure, followed by miserable failure?
  
  Report this comment
- pissantno.10
  Posted on September 13, 2012 at 10:45pm
  well no smart remark from soy bean he has to be still danceing cause i had to give him credos dang it all
  
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- smokeysmoke
  Posted on September 13, 2012 at 11:21pm
  soy is totally right… when we spend too much at the federal level and print too many dollars, it devalues the currency… this causes both your salary to be devalued, and the cost of goods at the martket to increase…. this is a strain on the standard of living in the united states.. it forces employers to have to pay more than they should for labor, and is thus shown in the price of goods at market… and then when we have an income tax code which we let people HAVE LOOP HOLES FOR UNPRODUCTIVE SPENDING, is how solyndra ended up with a 250 million dollar facility for a product they could not sell… they can write off a wastefully big facility as a tax writeoff… this causes a decrease in the standard of living of the middle class, and has been the ecoomic policies since PAUL VOLKER
  
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- ShyLow
  Posted on September 13, 2012 at 11:33pm
  When the gooberment learns it’s proper role and allows the free-market to work, you will see cars and homes built to last and sold at a price any-one willing to work can afford…If people would build things for their fellow man as if their soul depends on it..If jesus comes back as poor man that has to do his own mechanic work, some pople better pray to the God of manufactured junk for mercy on their souls
  
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- TheBurningTruth
  Posted on September 14, 2012 at 12:13am
  You missed another cause: Education. By that, I don’t mean how much are we paying our union teachers, I mean how well educated today’s graduates are. Given that nobody can make another person learn the question is why do so many kids today drop out of school or just coast through without doing more than the bare minimum (and don’t bother with canned replies about inner city kids and the poor as plenty of them DO succeed while plenty of the suburban kids fail).
  
  For decades the US has been developing into a dual class economy where those with skills and VALUED education are doing quite well and those that never bothered with self-development are burger flippers losing ground every year. Even those going to college often don’t pay attention to the marketability of their degree and lose out.
  
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- Individualism
  Posted on September 14, 2012 at 10:08am
  now you can understand the backlash that happened in Germany but hope a politician doesn’t turn the 99 percent on each other like what happened in the 30′s.
  
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pissantno.10
Posted on September 13, 2012 at 10:08pm
well the goverment said there is no inflation and started printing money. the canadan dollar has never been worth more than the U.S. dollar not now. and what does the union have to do with it. these bassturds need to be xmas ornements on a really big tree

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wisehiney
Posted on September 13, 2012 at 10:06pm
HEY! I thought it was the TEA Party that was gonna take us backwards?

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hornz
Posted on September 13, 2012 at 10:03pm
“Liberal economists” and “conservative economists” all agree that these troubles started under the Bush administration. Now who wants to vote for the Mormon Bush?

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- Psychosis
  Posted on September 13, 2012 at 10:08pm
  it started in 2007
  
  right after dems gained majority in both houses
  
  now go to bed your mother has company t r o l l
  
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- pissantno.10
  Posted on September 13, 2012 at 10:09pm
  in your own little world dip
  
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- DarkJello
  Posted on September 13, 2012 at 10:12pm
  You actually believed that line? Our deficit increased every year that Clinton was president.
  
  His “surpluses” were lamesauce accounting tricks. The only real surplus happened with Monica.
  
  Finally, our culture has been collapsing for a long time. Slowly shredding the constitution has not worked.
  
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- SCREW-WINDOWS
  Posted on September 13, 2012 at 10:15pm
  If you knew anything about Mormons you would know they are very frugal.
  
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- pissantno.10
  Posted on September 13, 2012 at 10:17pm
  yes psy thats when i stared loseing or not making any interest on my saveings.
  
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- pissantno.10
  Posted on September 13, 2012 at 10:20pm
  and they have pretty much taken the problem of a lot of baby boomers ever being able to retire out of the picture .
  
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- soybomb315_II
  Posted on September 13, 2012 at 10:23pm
  Federal Reserve does not care which party is in power. The system was designed to pit republicans and democrats against each other so that nobody sees who is really stealing the money. You guys play right into their trap
  
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- ThorLoser
  Posted on September 13, 2012 at 10:34pm
  Attempting to frame this as conservative VS liberal economics, then sliding into a democrat VS republican choice when it is actually a Keynesian VS Austrian Business Model economic issue (and with the Blaze audience already knowing that Bush was a Keynesian and that Romney is a Hayekian), your effort fails miserably.
  
  It’s a very sad day when the audience being trolled is better educated, informed and prepared than the trolls… a sad day indeed. I mean, it takes all the fun out of it.
  
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watersRpeople
Posted on September 13, 2012 at 9:51pm
It’s not as if TV has been around for a long long time. People are already sick and tired of commercials, so it’s not as if they have to get sick and tired of commercials all over again with the internet – they will wreck the internet rapidly.

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watersRpeople
Posted on September 13, 2012 at 9:49pm
Just wait until people eventually get bored with the internet because of the increasing commercials slowing everything down. TV has been around for a long time, and people have begun to move from TV to computers in part because of the lack of commercials. Commercials will wreck the internet.

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- whatthecrazy
  Posted on September 13, 2012 at 10:38pm
  i agree waters, darn commercials,……..
  
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