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Thursday, June 23, 2011

Spinning the Numbers: Is Personal Income in Wisconsin UP?

I ran across a VERY interesting story this morning from the MacIver Institute.

You can read it here:

http://maciverinstitute.com/2011/06/wisconsin-has-best-personal-income-growth-in-region/

First off, I'll tell you this: I am extremely skeptical of ANYTHING that comes out of the MacIver Institute. This extremist think tank is funded by groups and individuals with only one purpose: helping the rich get richer by spreading propaganda. How they get away with being classified as a 501 3c "Charitable Organization" is beyond me.

The actual Department of Commerce report is available here:

http://www.bea.gov/newsreleases/regional/spi/sqpi_newsrelease.htm

The MacIver spin says that the supposed "increase" in personal income is due in large part to the "durable good (sic) manufacturing".
 
Wait just a minute here! The Department Of Commerce Bureau of Economic Analysis report itself states that:
A two-percentage point reduction in the personal contribution rate for Social Security accounted for most of the acceleration in first-quarter personal income growth in most states.

So... right off the bat, that 2.1% increase in personal income isn't in any way due in large part to durable goods manufacturing.

I'm going to attempt to add to this blog later - hopefully today! - with further information on just how these numbers are calculated.

I have many questions.

Exactly what socioeconomic group(s) saw these supposed increases?

Are the increases merely due to the very slight (and questionable!) increase in employment - so that some who were collecting unemployment now have obtained jobs?

Perhaps most importantly: are Governor Walker and going to use these extremely questionable numbers to validate and further the Republican (read: CORPORATE) agenda? Is he going to attempt to take credit for this?

Remember: MOST OF THE JOBS THUS FAR CREATED IN WISCONSIN HAVE BEEN AS A RESULT OF POLICIES OF THE DOYLE ADMINISTRATION - NOT THE WALKER ADMINISTRATION!

Don't let him get away with this. Be ready to call him out if he attempts to take credit for it.
 
 

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