Study of incomes for men in 30s: Dad had it better
By Seattle Times news services
American men in their 30s today are worse off than their fathers' generation, a reversal from a decade ago, when sons generally were better off than their fathers, a new study finds.
The study also says the typical American family's income has lagged far behind productivity growth since 2000, a departure from most of the post-World War II period.
The findings suggest "the up escalator that has historically ensured that each generation would do better than the last may not be working very well," says the study, released Friday.
Family incomes of 30-something men have continued to rise in recent decades, but mostly because more of their wives are working, the study's authors said. Yet even with the addition of women's paychecks, the rate of family-income growth has slowed.
Along with data showing more workers are earning less in comparison with the incomes of top earners, the report suggests a growing number of Americans "believe that the rules of the game are no longer fair," said John Morton, director of the Economic Mobility Project at the Pew Charitable Trusts and one of the study's lead authors.
Median income down
In 2004, the median income for a man in his 30s was $35,010, the study says, 12 percent less than for men in their 30s in 1974 — their fathers' generation — adjusted for inflation. In 1994, median income for men in their 30s was $32,901, 5 percent higher than 30 years earlier.
The median is the midpoint: half of men earn more, half earn less.
Researchers focused on that age group because income in one's 30s is a good predictor of lifetime income, according to the report. advertising
Outsourcing and the demise of higher-paying manufacturing jobs have contributed to the stagnation in men's incomes, Morton said. The influx of well-educated women into the work force since the 1970s also might have exerted downward pressure on men's wages, he said.
Freelance television editor Chapen Hayslett, 31, of Los Angeles, said he earns between $48,000 and $50,000 when he works steadily, a figure he says is probably less than his father made at the same age as an Air Force officer.
Hayslett said the $80,000 in student loans he accumulated earning his film degree at the University of Southern California might have limited his earning potential, at least in the short run. "I didn't have the ability to take as many risks in taking jobs or being more decisive," he said. "It was ... oh my God, I need a job."
Across political spectrum
The Pew report is the first in a planned series of studies on economic mobility drawing together researchers representing think tanks from across the political spectrum, including the American Enterprise Institute and Heritage Foundation on the right and the Brookings Institution and Urban Institute on the left.
The generational income gap highlights troubling questions, Morton said, including what happens if an increasing percentage of Americans believe the American dream "is off-limits to them."
The report also found that between 1947 and 1974, productivity, or output per hour, and median family income, adjusted for inflation, roughly doubled. Between 1974 and 2000, however, productivity rose 56 percent while income rose 29 percent. Between 2000 and 2005, productivity rose 16 percent while median income fell 2 percent, challenging "the notion that a rising tide will lift all boats," the report says.
Isabel Sawhill, of the Brookings Institution, another lead author of the report, said several factors could explain the divergence: a growing share of income going to the highest-paid workers, or to profits; an increased share of labor compensation going toward benefits such as health care; or a decline in the number of wage earners, or hours worked, in the typical family.
Bill Beach, of the Heritage Foundation, said increased immigration could have pulled down median wages, since most immigrants at first earn less than native-born workers. But he said their incomes may also move up more rapidly in subsequent years.
Careerist baby boomers
Diehard careerist baby boomers also might partly explain the inability of 30-something men to move up the income ladder as quickly as their fathers. From the moment Generation Xers entered the workplace, boomers have been the "ceiling" blocking their way up the income ladder, said Peter Rose, a partner with marketing-research company Yankelovich in Los Angeles.
"The boomers stand out in defining themselves in terms of their work and have shown a disinclination to get out of the way," he said.
Freelancer Hayslett said he thinks there's another factor: "Honestly, it seems that women are more together," he said. They're more stable and focused, he said, compared with "a lot of guys who feel so frustrated that they tend to move around and leave."
Material from The Wall Street Journal and the Los Angeles Times is
In the 1971 movie "Dirty Harry," actor Clint Eastwood introduced the world to the double-action Smith & Wesson Model 29 .44-cal. Magnum revolver--"the most powerful handgun in the world."
It was a crown S&W wore proudly, albeit briefly.
The rising popularity of handgun hunting for big game (spurred largely by the .44 Magnum itself) prompted the introduction of newer and significantly more powerful revolver cartridges. Many powerful enough that they had to be chambered in single-action handguns because existing double-action designs could not contain the recoil forces and pressures they produced.
Since S&W does not make single-action revolvers, and no double-action frame at its disposal could handle the new loads, S&W was effectively dethroned.
At the 2003 Shooting, Hunting and Outdoor Trade (SHOT) Show, the manufacturer regained its crown. And, most significantly, it did it by introducing a new massive double-action revolver that is chambered for an equally new .50-cal. cartridge.
The S&W X-frame Model 500 is a brawny handgun designed to master the most rigorous hunting fields in the world. It is not a revolver one would, or likely could, tuck into a waistband. In fact, to call it massive is an understatement.
With its 8-3/8-in. barrel, the overall length of the Model 500 is 15 in. and the empty weight is 4.5 pounds. The cylinder alone is almost 2 in. in diameter and approaches 2.25 in. in length. Thumb the cylinder open and five charge holes await. Each is 1/2 in. in diameter, and the .50-cal. cartridges they hold are almost 2 in. long. Load five of them and the total weight of the handgun climbs to 5 pounds.
You don't just casually pick up a Model 500. You have to lift it.
Fire even one of those big cartridges and you'll appreciate why the weight and mass are there.
When the .44 Magnum laid claim to being the most powerful handgun in the world, its standard load produced about 900 ft.-lb. of muzzle energy. Several new loads have since eclipsed that, but the handgun most commonly used by big game hunters is the .454 Casull, which will generate about 1900 ft.-lb.
The 500 S&W Magnum will produce almost 2600 ft.-lb. with its heaviest load, and more powerful loads may well be on the way.
If Dirty Harry felt that the .44 Magnum would make his day, the new 500 S&W Magnum would certainly make his decade. It is the largest double-action revolver available, and there is no production revolver in the world--single or double action--capable of matching, or even approaching, the level of power it produces.
Harnessing that power in a double-action revolver, however, required some departures from traditional desig FULL STORY
June 4, 2007 issue - The United States Department of Justice has not always been above politics. John F. Kennedy, after all, appointed his brother and consigliere Robert to be attorney general. But the Justice Department is supposed to stand for the rule of law—to be the enforcer of the laws of the United States, not the place presidents go to get around the law. Independence is an important tradition in the columned limestone building on Constitution Avenue. It is worth remembering that before Richard Nixon could find someone at the Justice Department willing to fire the Watergate special prosecutor in 1973, he had to accept the resignations of the attorney general, Elliot Richardson, and the deputy attorney general, William Ruckelshaus. (Solicitor General Robert Bork finally did the deed.) FULL STORY ON MSNBC.COM
I LOVED THIS MOVIE AWESOME ANIMATION WITH REALISTIC LIGHT AND WATER EFFECTS GREAT MUSICAL NUMBERS! THE STORYLINE IS MULTI LEVEL AND YOU CAN GET AS DEEP AS YOU DARE WITH IT! ENVIRONMENTALISM,CONSUMERISM,XENOPHOBIA,ALIEN CONSPIRACY THEORIES !!!
THIS IS THE 500TH MIENFOKS POST! PATHETIC OR IMPRESSIVE ?
Death allows Peter to go back in time, but when he returns to the present he discovers he is married to Molly Ringwald and Lois is married to Quagmire. An alternate version of the world is presented in which Al Gore is president, Osama is no longer a problem, flying cars run on vegetable oil, universal healthcare exists, crime is virtually non-existent, education is well-funded, and Dick Cheney the chairman of Haliburton shot Supreme Court Justice Scalia and the bullet went right through him and killed Karl Rove, and Tucker Carlson. Basically, it's paradise on earth. Enjoy the fantasy.
THIS STARTS OUT WITH JOY BEYHAR ASKING FOR A BUSH IMPEACHMENT AFTER LISTING THE MANY ACHIEVEMENTS OF HIS ADMINISTRATION, THEN ROSIE AND ELIZABETH GET THE CLAWS OUT! WOW ROSIE DESCRIBES HERSELF AS "THE BIG FAT LOUD LESBIAN" POOR LITTLE ELIZABETH ALL CUTE AND PREGNANT WHY ARE THE RIGHT WING CHICKS ALWAYS SO HOT!!!
ELIZABETH DROPS A TRUMP RIGHT IN ROSIE'S LAP ! ROSIE GETS DIRTY ELIZABETH WILL NOT GO DOWN !..UNTIL ALICIA SILVERSTONE CRUSH HER WITH A BIG TIME SNUB !
As Tony Blair was bidding farewell to President George W Bush in the Rose Garden on Thursday, the World Bank was preparing to kick out Paul Wolfowitz as president. Allies to the left and right in the Iraq war were falling by the wayside that day.
Was he responsible for Blair’s departure from office, Bush was asked. There had to be a reason why a prime minister who had never lost an election was being dumped. “Could be . . . I don’t know,” the president mused above the distant chant of war protesters outside the White House gates.
And what did he make of Wolfowitz’s likely resignation? “I respect him a lot and I’m sorry it has come to this,” Bush said, leaving the World Bank head to his fate.
If Bush and Dick Cheney, his vice-president, are the last men standing with responsibility for the Iraq war it is only because they are protected by their four-year terms of office. One former Bush stalwart told me: “If we had a parliamentary system, Bush would have lost a vote of confidence and have resigned by now.” COMPLETE STORY - TIMES ON LINE
GULIANI HAS THE STONES TO ASK RON PAUL TO RETRACT HIS STATEMENT ON 911 THEN RON PAUL RETORTS WITH A REFERENCE TO THE 1953 CIA PLOT TO OVERTHROW THE IRANIAN GOVERNMENT,...OH MY, I NEVER THOUGHT I WOULD HEAR THESE FACTS COMING FROM A MAINSTREAM POLITICAL DEBATE..BLOW BACK INDEED !!!
* He has never voted to raise taxes. * He has never voted for an unbalanced budget. * He has never voted for a federal restriction on gun ownership. * He has never voted to raise congressional pay. * He has never taken a government-paid junket. * He has never voted to increase the power of the executive branch. * He voted against the Patriot Act. * He voted against regulating the Internet. * He voted against the Iraq war.
* He does not participate in the lucrative congressional pension program.
* He returns a portion of his annual congressional office budget to the U.S. treasury every year.
THERE IS A REASON THAT FREEDOM OF SPEECH IS THE FIRST AMENDMENT IN THE CONSTITUTION. IF YOU DON'T HAVE FREEDOM OF SPEECH NOTHING ELSE REALLY MATTERS.IF WE DON'T HAVE FREEDOM OF SPEECH FOR PEOPLE WHOSE OPINION WE DON'T LIKE THEN WE DON'T HAVE FREEDOM OF SPEECH AT ALL.
Some elections can mark a "realigning" of national politics. The 2006 midterm elections may mean the dominant conservative coalition is breaking up in advance of such a realigning election. Presidential elections that forged a new political order:
1800: Thomas Jefferson's Democratic-Republican Party replaced the once-dominant Federalists; in power until 1824.
1828: Andrew Jackson's Democrats installed frontier populism in power.
1860: Abraham Lincoln's Republicans replaced Whigs who had splintered in the 1850s.
1896: William McKinley's Republicans united industrialists, resulting in progressive reform.
1932: Franklin D. Roosevelt's Democrats united many groups, at the height of the Depression, behind New Deal big-government policies.
1968: Richard Nixon's Republicans and Southern populists broke New Deal coalition.
1980: Ronald Reagan forged a broader conservative coalition that dominated politics until the 2006 midterm elections.
GOOD ADVICE EXCEPT FOR THE SUNSCREEN PART. THERE IS NO PROOF THAT SUNSCREEN PREVENTS ANYTHING,BUT A SUN BURN. HOWEVER IT DOES BLOCK THE SUNS ABILITY TO RELEASE VITAMIN D INTO YOUR BODY. A LACK OF VITAMIN D CAN BE FOUND IN A LOT OF CANCER PATIENTS!!!