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837. Re: Morning Metaverse Nov 1, 2013, 15:42 Beamer
RollinThundr wrote on Nov 1, 2013, 13:54:

As to where it's going? Out in the street more than likely, we certainly haven't cut any sort of serious spending at any level of government now have we? But no, I'm sure you'll come back and explain to us all that it's the CEO's, and big evil business.

It in the street?
Ok, so you don't know what total personal income is. That's fine, though I wish you'd Google it before you'd respond. I'll do it for you. Per the United States' Bureau of Economic Analysis, total personal income is is the sum of compensation of employees (received), supplements to wages and salaries, proprietors' income with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj), rental income of persons with CCAdj, personal income receipts on assets, and personal current transfer receipts, less contributions for government social insurance.
In other words, total personal income is the total amount of money that US citizens earn in some capacity. I'd prefer the total private income, as it strips out all that government stuff, but I can't find that anywhere.

So, to recap:
- the amount of money US citizens earn, as a whole, has risen drastically. It's gone up 57% since 2000, which I think we'd all agree far outstrips inflation
- the taxation level has actually decreased, from about 21% to 20%
- the US labor force has fallen percentagewise from ~66% to 63%, but since the country is larger it's actually gone up about 10 million people
- by your own admission, wages have not increased

Given all this, your answer to where that massive jump in personal income went is... to the street? That doesn't make any money. Significantly more US money has been earned, taxation has decreased marginally, and the amount of people working has increased marginally.
So if that money isn't going to the middle class wages, and isn't going to the poor wages, where is it going?

"The street" is as logical an answer to that question as "blue."
Also, SHUT UP about government spending when asked about this. We're talking solely money citizens earn. Government spending is not part of this conversation. You keep trying to bring it back there because you do not understand what we are talking about.

Music for the discerning:
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