The Wall Street Journal is one of the most influential shopping hotel lisbon sources of economic news in the United States. Even when they publish opinion pieces by Romney campaign advisors without disclosing it, and even when they demonize union workers , unemployment insurance , Head Start , fair taxation …the list goes on, but even when we don't agree, it's safe to say they are a respected and influential newspaper and website.
Let's take the single parent with two children – in the graphic she is depicted as a single mother. The WSJ graphic estimates her having an annual income of $260,000. According to the last Census , there are roughly 10 million households shopping hotel lisbon headed by single mothers . As of April 2011, 1.2 million of those single mothers were unemployed , but for those of them lucky enough to find employment shopping hotel lisbon their median household income is $24,487. If that looks low, it is: the annual shopping hotel lisbon earnings for single-parent families dropped by 20 percent between 2007 and 2010, versus 5 percent for two-parent households. shopping hotel lisbon 40.7 percent of single-mother families live in poverty. 93 percent of single mothers make less than $100,000, let alone $260,000.
What about the "single person" making $230,000, depicted in the graphic as a female professional? Well, the median household income for single woman without kids is $25,269 , versus $36,611 for her male counterpart. Now, statistically that single woman can bump that number up by owning her home ($61,588) shopping hotel lisbon being at the same job for 50 weeks or more ($71,246), having a Master's degree ($91,660), or having a Professional degree (a whopping $123,784!). Nevertheless, about 94 percent shopping hotel lisbon of single women make less than $100,000, let alone $230,000.
What about the married couple with kids? Certainly the power of two earners can reach the WSJ's estimate of $650,000, an average of $325,000 apiece. But the data says no dice: the median household income for married couples is $71,830 . The data show that married couples are the most likely to make over $100,000 – but still 68 percent of them make less than $100,000, and that's less than 1/6 of the WSJ's estimation.
Now, fair is fair: the graphic does not say that these calculations apply to the average person in these demographic groups. But why would you make a graphic with such generic pictures and publish it on a widely distributed site when it only applies to such a tiny percent of the American population, perhaps less than one percent?
Our theory: The Wall Street Journal has only seemed wrong and backward in their reporting about the American economy because they weren't actually writing about the American economy. They were reporting on the financial comings and goings of a fictional shopping hotel lisbon country – let's call it "Wall Street" – where they worship the free market, scoff at the rule of law, and react with anger when their infallibility of their main industry is questioned. Oh, and they also consider salaries many times higher than the average American annual income to be merely "average." In this country, even single mothers make over $200,000 a year!
Luckily, our friends shopping hotel lisbon at AFSCME have lent a hand to the WSJ graphics department . If the WSJ wants to continue to convince readers that they are a reliable source of news, they'd do well to switch out that graphic for this one:
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The graphic also puts in tiny print that it includes the payroll tax going back up 2 points, which accounts for most of the increase for the single woman and the single mom with 2 kids. Which applies to EVERYONE, at least those who are working. So screw that.
I do skim it every day for financial news, some of the articles on companies, etc. What often strikes me is how many times the Editorial page and the Op-Ed page have columns espousing conclusions that are in direct contravention to the news articles in the rest of the paper.
A small example: here's a news article talking shopping hotel lisbon about the real facts of the "investor class" - yes, about 70% of Americans over 25 have investments in the stock and/or bond market. But, for many, this is only true in that their 401K/IRA or Employee Stock Benefit Plan has such investments. These are already tax deferred. Outside of a retirement plan, only 40% of Americans own stocks or bonds, and even then of course, most of it is in the hands of just 10% of Americans.
"The Wall Street Journal is one of the most influential sources of economic news in the United States." hasn't been correct since Rupert Murdoch shopping hotel lisbon bought the paper. Now it's just another rag like Faux Nooz. If you want real financial reporting, you need the Bloomberg Report. Even USA Today is less biased than WSJ. I would line a canary cage with the WSJ.
They look about as downcast as the Victorian shopping hotel lisbon paupers in some Dickensian workhouse. Which probably, as far as the WSJ is concerned, is the proper social classification for those earning "only" $260,000 a year....
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OMG. "New!" "Improved!" Emergency Manager Bill in Michigan Just Passes House. Update. Just when you thought it was safe to take your eyes off the Michigan Legislature for an hour... They do it again :
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