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Day After Trump Said 'Inequality Is Down,' Federal Data Shows US Income Inequality Highest Since Census Began Measuring

Originally published at http://www.commondreams.org/news/2019/09/26/day-after-trump-said-inequality-down-federal-data-shows-us-income-inequality-highest

WHAT?! Dumbf lied??? ALERT THE CORPORATE MEDIA FOR THIS EXCLUSIVE!!! s/

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Trump has been remarkably successful in deploying the tactic of tossing out so much bullshit that the act of parsing the torrent of lies becomes futile.

At this point, most people presume that whatever he says is untrue or unintelligible.

Nonetheless, every word is dutifully reported. Bullshit, it turns out, sells papers.

As for income inequality, it mirrors Trump’s lies. As it keeps on picking up steam, it gets lost in the fog. Outside of Bernie, it hardly gets mentioned.

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It’s growing month after month ,year after year .
With this you can expect civility to all but disappear . As it must …the people are being played like a fiddle.
Greed and the fear of not enough to around is a problem humans have been battling with for millennia.
It’s off course a spiritual problem with spiritual solutions .There’s enough of everything humans need for everyone to live joyous ,fruitful lives.
Poverty is manufactured with the tools of greed .

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“Poverty is manufactured with the tools of greed.”
Thanks to Capitalism and its pig humans.

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Trump is amazing. He says anything that comes into his head.

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Nothing can quite come up to the hilarious 4th of July speech he did for his stupid fireworks extravaganza. Revolutionary war airports and all. He never really makes any sense ; but the teleprompter seems to be a real challenge. Lol

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Lol Lol Carl!

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Of late, I have begun to contemplate the term “fact check” as it relates to independent verification of Chump’s pronouncements.
I would suggest the substitution of “fact hunt” were I not convinced such an excursion would be more likely to bag a snipe.

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The average household income ($138,561 for 128 million households) is about double the income of the household middle income, the median ($63,179). The BEA.gov states that the total national income is $17.819 trillion, and divide that by 128 million households, yields $138,561 – the average for all. The average for the higher earning half is $278,421, believe or not! The average for the lower half, 64 million households, is about $22,273. The average for the lower half, 64 million households, is 6.2 times lower than the average for all households. And the differential between the two average incomes for the two halves is a multiple of 12.5. It is difficult to boast about inequality, or even a slight dip in Gini numbers. The gap between the average income of the lower-earning 20% and the top 1% was 140 times. The lower earners average $13,700 and the top 1% earned $1,914,500, that’s 140 times more. This claim about inequality should be called out. This comes from ITEP.org, “Who Pays Taxes in America? 2019”. (https://itep.org/who-pays-taxes-in-america-in-2019/) And the wealth inequality is really huge, the lower 20% owe more than they own, about 1.3% of all wealth they owe, the top 1% owe 42%, says the Credit Suisse bank World Wealth Report, Databook. Looking at the USCensus report on poverty, page 44, Trump is correct: this year Gini dropped from 0.471 in 2017 to 0.464 in 2018, where it was in 2014, and in 1974 it was at 0.354. There is really nothing to brag about. And the US Census report on income is badly flawed: It only reports on 77% of the total income or maybe 60% of all income. Total income according to the Census is $11.2 trillion, but the Congressional Joint Committee on Taxation (Overview 2018) reports $15.0 trillion, and the BEA.gov, dept. of commerce, reports $17.819 trillion. The Census misses or loses between 23% to 40% of all income, and what it misses mostly goes to the top 20%, because it misses financial gains, capital gains, interest, rents, and business proprietor income that mostly goes to the wealthiest. So, Mr. Trump is correct, but he will only talk about what makes him look good, not the opposite. Since 1974 the median household has gained 19% more income, but the average income per capita has increased by 42% (see BEA.gov, Table 2.1, "disposable personal income in chained 2012 dollars). This same table says the average post-tax income for all is $44,455 in 2012 dollars, and $48,075 in current dollars, which means the average income for a four person household is, officially four time $48,075, or $192,300. That’s after tax income, so add another 20%, over $200,000 for all 4 person households. Do we have massive inequality? My blog, Economics Without Greed, Part Two – http://benL88.blogspot.com As you can see we have nothing to boast about inequality.

Trump asphyxiating the truth is not news. He is a toxic dumbass. He needs to vacate the premises.

I hereby demand! Whenever el president pigface poses for media, said photos be only comic character faces all types. I demand that he - (whose named shall not be mentioned) - be viewed a pig in a suit, little blond combover, little hooves. Artificial renderings of pigface and brutal facial renderings ONLY!
N0 photographs of Pigface!!

“Wages are up, and inequality is down,” Trump said during a press conference following the United Nations General Assembly meeting in New York. “Something that people don’t like writing about.”

Sounds like Trump – berating the press for their failure to spread his lies. God, when will this end?

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Gil Scott-Heron wrote about that four decades ago:

"So much for the good news . . .

As Wall Street goes, so goes the nation
And here’s a look at the closing numbers:
Racism’s up, human rights are down
Peace is shaky, war items are hot
The House claims all ties

Jobs are down, money is scarce
And common sense is at an all-time low
With heavy trading
Movies were looking better than ever
But now no one is looking because
We’re starring in a ‘B’-movie

And we would rather have had John Wayne
And we would rather have had John Wayne"

The only difference is that now we’re starring in a reality-TV show, not a “B”-movie.

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I would suggest the substitution of “fact hunt” were I not convinced such an excursion would be more likely to bag a snipe.

Fact hunt: I love it! But it may also bag a witch; let’s just hope it’s not Hillary.

Why then does the quote from the article cite the same source, US Census Bureau data, and come up with the reverse direction as you claim:

“The U.S. income inequality reached its highest level compared to the past 50 years while the Gini index grew from 0.4804 in 2017 to 0.4845 last year, according to Census Bureau data.”

And why does the WAPO also make the same opposite claim as you:

“The separation between rich and poor from 2017 and 2018 was greater than it has ever been,” the Washington Post reported.

Can you explain this opposite citation from the same source?

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Again, Trump is demonstrating his appalling ignorance of life in America

Trump lies. Not news. How to convince nearly half the population of the United States that they are supporting a mafia front man, probably the greatest threat to our republic since Jefferson Davis, and that sometimes, just sometimes the corporate mainstream news media reports negative things about Trump that are true, now that would be news.

Greed is a disease of fear .

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29% of Americans voted this person to lead their country. I wonder what that 29% are thinking now?

Mr. Blair M. Phillips
St. Catharines, Ontario
Canada
Retired