06 September 2013 (14:45 UTC-07 Tango)/01 Dhu ‘l-Qa’da 1434/15 Shahrivar 1391/02 Xin-You (8th month) 4711

A Cornell University economist, Richard Burkhauser, and economist Jeff Larrimore, of the Congressional Joint Committee on Taxation, say the average paychecks are going to remain low for at least the next 30 years!

The Russel Sage Foundation will publish the complete study soon.  It’s part of their U.S. 2010 project, in conjunction with Brown University.

The income trends study looks at actual incomes from 1979 to now, then projects where they will be until the Gregorian year 2050.  The study is yet another confirmation that paychecks for the average person in the United States have been getting smaller, not bigger.  (the IRS has confirmed this with its own studies based on tax returns)

The study warns that things are going to get worse for Blacks and Hispanics.