Monday, November 17, 2014

The Middle Class Getting Poorer in Florida

Interest.com released an affordability study to examine housing markets. Tampa's medium income is $45,880. Tampa rated a D+ in paycheck power in 2012, 2013 and 2014. Tampa is the lowest rated city in the study. Miami is the second lowest rating city for medium income.

The Tampa Bay Times has an infographic of the jobs Gov. Rick Scott promised to deliver from giving companies tax incentives. Colt's Manufacturing currently has no people in their manufacturing building. Global Voter Solutions has declared bankruptcy. GVS was involved in a scandal using illegal voting software. Several states rejected the faulty Diebold machines GVS used.

Evolution was given a $100,000 tax credit from the state of Florida. Evolution has produced zero jobs in Florida. The list goes on.

Income inequality is increasing in Florida. All the gains from 2009 to 2011 went to the top 1 percent in Florida.

The report found Florida is one of 26 states in which all income growth from 2009 to 2011 went to the top 1 percent. While the average income of the top 1 percent in Florida rose 9.2 percent in that period, the remaining 99 percent saw its average income fall 2.4 percent. Robert Trigaux reports:

Just to break into the 1 percent bracket in Florida requires an annual income of $336,935. To enter the more elite 0.1 percent in Florida requires an income of $8,659,187.

Bottom line? In the Florida economy, the report says, the top 1 percent average of $1.14 million income is 32.2 times greater than that of the other 99 percent. Only Fortune 500-rich New York and Connecticut, home to many Wall Streeters and other highly paid workers, reported a larger disparity in income ratio.

This thread isn't going to change with the McJobs in Florida anytime soon.

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