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20 Percent of U.S. Will Attain Affluence

December 10, 2013

WASHINGTON (AP) — Fully 20 percent of U.S. adults become rich for parts of their lives, wielding extensive influence over America’s economy and politics, according to new survey data....

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daWraith

Dec-11-13 8:15 AM

Barack Obama is facing poll numbers that are now in the same territory as President George W. Bush's following Hurricane Katrina.

The Quinnipiac University Polling Institute released numbers on Tuesday showing that just 38 per cent of registered voters approve of the job Obama is doing as president, with a whopping 56 per cent saying they disapprove.

The president has lost his landslide electoral edge among young voters, too, with a negative 41–49 per cent rating among 18- to 29-year-old voters. His once formidable support among Hispanics has also evaporated: They now support him by an historically small 50–43 per cent margin.

Worse for Obama's fast-approaching legacy-building years, the public believes he is not 'honest and trustworthy,' by a 52–44 per cent score. A smaller majority, 51 per cent, said he lacks 'strong leadership qualities.'

Just keep talking about income inequality there Opie, all the way until 11/4/2014

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daWraith

Dec-11-13 8:04 AM

What other country can make the claim that 20% can reach affluence.

In Mexico the 1% control 99% of the wealth, it is virtually impossible for anybody to make it to the top.

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oldsteelmaker

Dec-10-13 10:00 PM

There is the interesting point, who has been in charge while this all occurred? Harry Reid has controlled the Senate for seven years. Pelosi had 4. And Obie has had five. If they didn't want this to happen, it's not like they haven't had some control over the situation.

Seems to me like you are pointing out your leaders' failings, not mine .

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oldsteelmaker

Dec-10-13 9:56 PM

BTW, Rock, a significant part of that low income growth is because the government has done such a wonderful job of keeping the economic growth down to a crawl. Nothing slows that lower end income growth like having tens of millions with earned income of ZERO!!!

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oldsteelmaker

Dec-10-13 9:51 PM

If any of us had taken our Social Security contributions and put into a very low risk mutual fund, you would have five to ten times as much to retire on as what they will pay out. Average rate of return on SS is about 1.5%, pathetic by money manager standards.

What a deal!

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oldsteelmaker

Dec-10-13 9:49 PM

Mostly choice, Rock. John D Rockefeller kept track of every dime when he was young, and put every spare one into some kind of investment. Compound interest, my friend, Ben Franklin wrote about it. Put aside 5% or more every time you earn it, and at some point it's putting aside more than you are.

I messed up, more than once, as the lumps and bumps of a steel career and not wanting to cut back enough drained off some of the pool. But janitors have left million dollar estates behind. Just a matter of what's important

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Richardson

Dec-10-13 8:45 PM

The wealthy rely on everyone under them to make them rich. They want workers that will slave away for them at the lowest wage possible. The income gap is the largest it has ever been!!!! Think that's a coincidence??? Capitalism doesn't work forever because what happens is the wealthy figure out how to abuse the system.

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TrollSlayer

Dec-10-13 8:38 AM

Those of you suffering from affluence needn’t worry; affluence is one of the few conditions actually covered by Obamacare. You won’t like the deductible, though.

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Triton

Dec-10-13 8:21 AM

But there is nothing that bars anyone from working and achieving. Sitting around whining that people have more than you do, says more about you than it does about them. This report is not about the "rich guys" that Obama used to motivate the stupid to vote for him, its about people who start businesses, who invest money wisely, people who earn their way. Education is often the key to success and who has made education so expensive? Rich guys? No, academia wants to be affluent to and earn top dollar for having the same credentials as most high school teachers, and college administrators who live like royalty (Gee's severance pay for being fired was $2 million dollars). Wanna be well off, look at those who are and copy them, that means working long hours, making sacrifices and getting degrees in something other than sociology and art history. Dr's work 80 hours a week and went to school for 8 yrs after high school. Don't envy, work to achieve something on your own.

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daWraith

Dec-10-13 7:48 AM

Another day in the OV, another day of class envy. Yawn.

Ironic that the homeboy who ran the BS campaign of hope and change has delivered on NONE of the promises that redistribution of the wealth would deliver. Instead, just the opposite the rich get richer under the Quantitative Easing that dumps about 200M$ per month into the feeble American Economy and the fact that far more people are on welfare and disability and food stamps than EVER in History.

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mikeyd

Dec-10-13 7:41 AM

and the middle class?

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RockEReputation

Dec-10-13 6:11 AM

Wow, thank you for posting this headline that puts the issue in the PROPER perspective.

The "In 2012, the top 20 percent of U.S. households took home a record 51 percent of the nation's income"

..sounds much, much better than "the top 10 percent took home about HALF of all 2012 US income.

..and way better than the fact that 95 percent of the income gains REPORTED since 2009 were by the top 1 percent.

Your “ray of hope” theme coupled with its “only underachievers need be poor” facts should motivate all blue color Americans to rejoice in the knowing that their HARD work can ascend them into the clouds of prosperity, where the top 1 percent incomes rise 19.6 percent a year

….****pared to what they will become by being less energetic… willing, recalcitrant purveyors of the widening income gap

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