Where’s the wealth?

From NJ Spotlight

5 New Jersey counties rank among nation’s wealthiest, Census data shows

While some New Jerseyans still have not fully recovered financially from the recession, the state remains home to some of the wealthiest counties in the nation.

Data from the U.S. Census Bureau also shows that five New Jersey counties — Hunterdon, Somerset, Morris, Bergen, and Monmouth — have some of the largest concentrations of wealth in the United States, as defined by the percentage of households with an income of $200,000 or more. Four of five New Jersey counties also are among the ranks of those with the highest median household income.

Surprisingly, those two measures of wealth do not always overlap, at least not in New Jersey.

For instance, Sussex County made it into the ranks of the 25 wealthiest, at number 24, when measured by median household income. But it ranks 54th in the percentage of wealthy households.

Then again, Hunterdon and Somerset counties rank in the top 10 in both measures. With a median household income of just under $100,000, Hunterdon was the fourth-wealthiest county in the nation in 2011. The top three are all Virginia suburbs of Washington, D.C.: Loudon, Fairfax and Arlington counties. Those counties also were the three with the largest proportion of households having $200,000 or more in annual income. Hunterdon, where 16.5 percent of nearly 47,000 households were that wealthy, ranked fifth.

While all New Jersey counties have higher-than-average concentrations of wealth, the latest census data shows that many have not fully recovered from the effects of the recession, which technically stretched from December 2007 through June 2009. The inflation-adjusted median household income in 11 counties was lower in 2011 than at the start of the recession five years earlier. Atlantic County saw the biggest drop, of nearly 9 percent, to just under $51,000. Median income is around 4 percent lower than peak 2008 levels of more than $100,000 in both Hunterdon and Somerset counties.

Hudson County, however, saw its median income rise nearly 10 percent since 2007, to almost $57,000 in 2011.

This entry was posted in Demographics, Economics, New Jersey Real Estate. Bookmark the permalink.

65 Responses to Where’s the wealth?

  1. Ernest Money says:

    Gooners gonna get themselves ripped a new one again this weekend.

  2. Comrade Nom Deplume says:

    One hopes.

  3. Fast Eddie says:

    High income and wealth are two completely different concepts. It’s comparing apples and oranges. This article shouldn’t be using the term “wealth” when discussing income. Wealth is a function of time, income and investment. Time is a given; the ability to generate income is through desire but the majority of people haven’t the patience nor skill to invest. There’s the difference. When you have two German cars sitting in the driveway, a 3800 square foot house to feed, an annual vacation at the Cape and Graydon and Ellery’s image to uphold, wealth is not a priority. The “big hat, no cattle” theory applies and a 200K household income is just enough to keep the x@nax flowing and the rubber band from snapping.

  4. Essex says:

    3. Don’t hate the playa Eddie. Don’t.

  5. Essex says:

    3. I got news for ya Eddie….Here’s “my” budget.

    http://www.businessinsider.com/how-much-house-you-can-get-for-450000-2013-2

  6. yome says:

    You know housing is doing well, when you wake up 5.30 in the morning and all the local channels are ads showing how to make money flipping houses. Waiting for Trump to confirm all this.

  7. grim says:

    From the WSJ:

    Is It Safe to Sell Your House Now?

    It might finally be time to come out of the basement.

    Seven years after the housing market began to collapse, rising prices and thinner inventories are presenting new opportunities for home sellers. Some hot markets are even seeing multiple offers for the same property—a phenomenon rarely seen since the boom years—as buyers become more confident and seek to take advantage of today’s near-record-low mortgage rates.

    Home prices nationally climbed 8.3% in December from the same period a year earlier, according to CoreLogic, a real-estate analytics company. The increase was the largest since May 2006 and the 10th consecutive monthly gain. The CoreLogic figures include foreclosures and other distressed sales.

    The gains are good news for would-be sellers who have been stranded on the sidelines since home prices peaked in 2006. Nearly one in four homeowners and renters say now is a good time to sell a home, according to a survey released this month by Fannie Mae, the government-backed mortgage company, up from 11% a year earlier.

    “You will unambiguously see more people test the water,” says Thomas Lawler, an independent housing economist in Leesburg, Va. He expects home prices to rise another 3% this year.

  8. grim says:

    If you know how to use ARCGIS Explorer Online (it isn’t hard, but does take some getting used to) you can map net worth by census division as of the 2010 census.

    http://www.arcgis.com/home/item.html?id=814b785f25e24c9d8fc1a61ea61c0462

    Hint, change the opacity of the net worth layer to around 50% to see the city/street level data. Zoom and navigate is at the lower left side.

    This resource is very good, I use it often to get a feel for the relative strength of a neighborhood.

    For example, my neighborhood, the average net worth is $705,365, and thats 722% above the national average.

    In my specific neighborhood, the net worth distribution looks like:

    $1m+ – 150
    $500k-$1m – 133
    $250k-$500k – 61
    $150k-$250k – 30
    $100k-$150k – 14
    $75k-$100k – 4 <- That's me right there. :)

  9. grim says:

    Here is a screenshot to get a flavor of what the tool does:

    http://njrereport.com/blog/wp-content/uploads/2013/02/Screen-Shot-2013-02-23-at-6.40.36-AM.png

    That’s my neighborhood highlighted in red.

  10. grim says:

    Here you go, I’ll save you some time, Bergen County Parkway/17 Corridor, this is the median net worth. The fact that they all stop at $1m is a limitation of the mapping/data. $1m+ is the top category. Actual medians in many of these areas are higher than the $1m indicated.

    http://njrereport.com/blog/wp-content/uploads/2013/02/Screen-Shot-2013-02-23-at-6.51.14-AM.png

    And the 208/287 corridor:

    http://njrereport.com/blog/wp-content/uploads/2013/02/Screen-Shot-2013-02-23-at-7.05.55-AM.png

  11. yome says:

    Looks like average from this mapping is over 500k. I only saw a couple with lowest at 150k.

  12. yome says:

    How much does one need in retirement to live comfortable? A couple will get at least a $1000 each for ss retiring at 62. $1000 a month on 401 k with 20 years is $240k. You get at$3000 a month. A normal rate for money market at 4.5 percent will give you an income of $1000 a month with $300k deposit. Not touching this and let it grow compounding will give you a safety net for inflation and aging more than 20 years. If house is paid $240knin 401k plus $300k in after tax savings should give you comfortble retirement in a low tax state. No?

  13. Fast Eddie says:

    The tool is vague if at all accurate. If one stays in the house for 30 years and their net worth is 700K, for instance, that means they have no other investments besides the house. Geez, if I stay put in this house for another 18 years and drool on myself, the house alone will be worth that much. Then again, the property taxes may cause my street to be filled with a bunch of crack hoes.

    The point is simply wealth and income or mutually exclusive. I’m actually surprised those net worth numbers aren’t doubled and proves my point: most are living by a string. One of the guys on my team was recently out of work for 5 months before landing this gig. He said he cried when he landed this job because he was two mortgage payments left from being strapped. Multiply that by a hefty amount and you’ll get the picture.

    It says a lot to me when I bid on a house and the seller needs to consult with his accountant to determine if the number is too low. Again, the metric doesn’t exist to measure pain and there’s plent of it out there.

  14. yome says:

    Eddie
    In my example in 12
    a person with no savings with 750k in net worth can move and buy a 200k house in a low tax state and live comfortable in retirement. Then again if he lived there for 30 years no mortgage with income coming in, he may have started saving after paying off the mortgage he may not be struggling. He could not have a 700k net worth if he used the house as an atm without savings

  15. yome says:

    I guess your point is a person with $700k in net worth with no savings has a liquidity problem when all income is cut off. But no way he is strugling. He has options

  16. grim says:

    I’m actually surprised those net worth numbers aren’t doubled and proves my point: most are living by a string.

    I said that the mapping has limitations associated with $1m+ being the top category. I have average net worth by zip data I can cross reference that doesn’t have this limitation, and I can tell you for areas like Franklin Lakes and Saddle River, the average net worth is $1.4m and $1.5m respectively, so 40-50% higher in some areas than the map implies, but not double. Realize what we’re talking about here, in the median case, HALF of all households fall *above* this line. These are big numbers, I don’t care how you slice or dice them (or poo poo them).

    The tool is vague if at all accurate. … One of the guys on my team was recently out of work for 5 months

    Realize that you just called the **CENSUS** vague and inaccurate, and in the same breath pointed to your single **ANECDOTAL** case as being more representative of the actual demographic?

    Geez, if I stay put in this house for another 18 years and drool on myself, the house alone will be worth that much. [700k]

    No, probably not, you said yourself you expect prices to fall precipitously. You would need a consistent 5-6% appreciation per year for the next straight 18 years to hit that number. You really think so?

  17. yome says:

    A person with 700k non liquid net worth is stupid if he did not get liquid assets to protect himself. It s been said 6 months of income. With that net worth I will go with 1 or 1 .5 years of liquid protection. Not able to save? A bank will be stupid not to give you 100k on an equity of 700k

  18. chicagofinance says:

    At least we get justice meted out from time to time……these bastards are out their initial $90,000….
    http://www.bloomberg.com/news/2013-02-22/sec-wins-asset-freeze-after-heinz-traders-don-t-appear-in-court.html

  19. grim says:

    I’ve been trying to hunt down the source of this data, but it’s interesting so I’ll share:

    http://www.americantowns.com/nj/wyckoff/info/income-employment

    Wyckoff, NJ INCOME OVERVIEW
    Income details
    Average Household Income 211,909
    Average Household Size (people) 2.91
    Average HH Net Worth 1,228,830
    Per capita income 73,096
    Median Disposable Income 110,604

    Wyckoff, NJ INCOME OVERVIEW
    Median Values
    Savings Bonds 2,133
    Stocks 44,034
    Mutual Funds 111,385
    Retirement Accounts 122,970
    Vehicles Owned 25,442
    Home Equity 668,923
    Investment Property Equity 120,396
    Mortgage Debt 327,118
    Lines of Credit Debt 10,702
    Credit Card Debt 5,403

  20. Fast Eddie says:

    Realize that you just called the **CENSUS** vague and inaccurate, and in the same breath pointed to your single **ANECDOTAL** case as being more representative of the actual demographic?

    I land a job with a guy that’s 2 paychecks away from a late payment, make an offer on a house from a guy who’s a medical professional, who needs to consult with his account, and visit homes for sale that haven’t seen a paint brush in years yet have a $70,000 car in the garage so yes, what I see with my own eyes is proof enough. Multiple substantially and you have more people in trouble than are solvent.

    Geez, if I stay put in this house for another 18 years and drool on myself, the house alone will be worth that much. [700k]

    That was said in sarcasm. The house will drift down to sideways for 10 years and then maybe 1% to 2% appreciation for the following 8 years. And take the net worth figures with a grain of salt. Two 40 year olds working, even with 200K income, with one or two kids did not invest month over month for the last decade and increase their net worth substantially. These high net worth people are few and far between and closer to 6o years of age and not 30. If houses are down 27% from peak, property taxes up ~80% and the stock market is at the same point as it was 10 years ago, then there’s a huge void between the haves and have nots. Add it up, divide by a number and there’s the average. Jack Smith is worth 1.6 mil but his neighbors on each side of him are house rich with no savings.

  21. Fast Eddie says:

    In fact, what happened is when the market was crashing in 2008, the lemmings pulled out their money within 500 points of the bottom and “invested” in precious metals and CDs. You know, safe investments. They bought high and sold low just like a gambler always does and why the house always wins. An investor will invest based on risk; an amateur invests based on return. How do I know? I have friends and family in the haughty towns who miraculously don’t talk about the market any longer. They were angry when they sold and even angrier when the market returned.

  22. joyce says:

    The govt. is this magical entity that can hand out free-lunches at the expense of nobody. Yup, that’s how it works.

    yome says:
    February 22, 2013 at 5:17 pm
    The ones that can not afford are on FK already.The ones that kept paying their mortgage and showed they can afford it and it is their primary home got a gift from the govt through HARP 2.0.They are now paying 3.6 % interest rate and can stay foot for a long time.Getting expanded to non GSE loans,hopefully.

  23. anon says:

    regarding wealth and income, why are the most republican conservative states the poorest, and the bluest the wealthiest?

    February 15, 2013, 11:59 AM
    Politics Counts: Who Is Middle Class, Anyway?
    Article
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    By Dante Chinni

    Dante Chinni is the writer of Politics Counts , which runs every Friday. Mr. Chinni is the author of Our Patchwork Nation, which examines different types of communities across the U.S.

    One of the big political winners this week in Washington was the “middle class.”

    President Barack Obama mentioned that important group of voters eight times in his State of the Union address and announced new programs aimed at helping them. Not to be outdone, Sen. Marco Rubio uttered the magic words 16 times in his rebuttal.

    But all the odes to middle-class Americans working middle-class jobs, misses one big point: What exactly is “middle class” in America in 2013? That’s not an easy question to answer.

    The place you live has a lot to do with how you experience and understand “class” in America. The “middle” is always defined by who is at the top and bottom and that varies greatly from state to state and county to county.

    Changes in American communities – particularly growing wealth in urban and suburban places – mean the words “middle class” don’t carry the real weight they once did. The definition of the group has become so broad that crafting something that appeals to it as a whole is a difficult task.

    Looking at median household income is revealing. Nationally, the figure is about $51,027, but even at the state level there are huge differences. Mississippi has a median household income of just $39,078. In Maryland, the number is $67,469. That’s a difference of more than $28,000. The “middle” in those two states is necessarily different.

    And the wide disparities extend beyond those two states as the chart below shows.

    Top Five States, Median HH Income Bottom Five States, Median HH Income

    Maryland 67,469
    Mississippi 39,078

    New Hampshire 67,287
    Arkansas 39,806

    Connecticut 67,165
    Tennessee 41,524

    New Jersey 65,072
    Montana 41,753

    Massachusetts 62,809
    South Carolina 42,065

  24. joyce says:

    24

    The disparities between state to state (region to region) is just one of countless reasons why ‘centralized’ or top-down solutions are wrong.

  25. grim says:

    25 – Have you seen this one yet?

    http://www.cbpp.org/files/pullingapart2012/New_Jersey.pdf

    Changes in Household income – Late 90s to Mid 2000s

    Poorest 20% – Up 3.9%
    Middle 20% – Up 8.4%
    Richest 20% – Up 13.7%
    Richest 5% – Up 21.1%

    Pretty much says it all.

  26. chicagofinance says:

    “Democrats who thought they were doing workers a favor by mandating health coverage can’t seem to understand that it doesn’t help workers to give them health care if they can’t get a full-time job that pays the rest of their bills. ”

    WSJ
    REVIEW & OUTLOOK
    ObamaCare and the ’29ers’

    How the new mandates are already reducing full-time employment

    Here’s a trend you’ll be reading more about: part-time “job sharing,” not only within firms but across different businesses.

    It’s already happening across the country at fast-food restaurants, as employers try to avoid being punished by the Affordable Care Act. In some cases we’ve heard about, a local McDonalds has hired employees to operate the cash register or flip burgers for 20 hours a week and then the workers head to the nearby Burger King BKW +2.39%or Wendy’s to log another 20 hours. Other employees take the opposite shifts.

    Welcome to the strange new world of small-business hiring under ObamaCare. The law requires firms with 50 or more “full-time equivalent workers” to offer health plans to employees who work more than 30 hours a week. (The law says “equivalent” because two 15 hour a week workers equal one full-time worker.) Employers that pass the 50-employee threshold and don’t offer insurance face a $2,000 penalty for each uncovered worker beyond 30 employees. So by hiring the 50th worker, the firm pays a penalty on the previous 20 as well.

    These employment cliffs are especially perverse economic incentives. Thousands of employers will face a $40,000 penalty if they dare expand and hire a 50th worker. The law is effectively a $2,000 tax on each additional hire after that, so to move to 60 workers costs $60,000.

    A 2011 Hudson Institute study estimates that this insurance mandate will cost the franchise industry $6.4 billion and put 3.2 million jobs “at risk.” The insurance mandate is so onerous for small firms that Stephen Caldeira, president of the International Franchise Association, predicts that “Many stores will have to cut worker hours out of necessity. It could be the difference between staying in business or going out of business.” The franchise association says the average fast-food restaurant has profits of only about $50,000 to $100,000 and a margin of about 3.5%.

    Because other federal employment regulations also kick in when a firm crosses the 50 worker threshold, employers are starting to cap payrolls at 49 full-time workers. These firms have come to be known as “49ers.” Businesses that hire young and lower-skilled workers are also starting to put a ceiling on the work week of below 30 hours. These firms are the new “29ers.” Part-time workers don’t have to be offered insurance under ObamaCare.

    The mandate to offer health insurance doesn’t take effect until 2014, but the “measurement period” used by the feds to determine a firm’s average number of full-time employees started last month. So the cutbacks and employment dodges are underway.

    The savings from restricting hours worked can be enormous. If a company with 50 employees hires a new worker for $12 an hour for 29 hours a week, there is no health insurance requirement. But suppose that worker moves to 30 hours a week. This triggers the $2,000 federal penalty. So to get 50 more hours of work a year from that employee, the extra cost to the employer rises to about $52 an hour—the $12 salary and the ObamaCare tax of what works out to be $40 an hour.

    Moving to 33 hours a week costs the employer about $10 an hour more in ObamaCare tax. Look for fewer 30-35 hour-a-week jobs. The law that was sold as a way to help business and workers is thus yanking a few more rungs from the ladder of economic upward mobility.

    Many franchisees of Burger King, McDonalds, Red Lobster, KFC, Dunkin’ Donuts and Taco Bell have started to cut back on full-time employment, though many are terrified to talk on the record. Activist groups have organized boycotts against Darden Restaurants, which owns Olive Garden and Red Lobster, for daring to publicly criticize ObamaCare. It’s safer to quietly dodge the new costs and avoid becoming a political target.

    But the damage won’t be limited to franchisees or restaurants. A 2012 survey of employers by the Mercer consulting firm found that 67% of retail and wholesale firms that don’t offer insurance coverage today “are more inclined to change their workforce strategy so that fewer employees meet that [30 hour a week] threshold.” This week Nigel Travis, the CEO of Dunkin’ Donuts, asked Congress to change the health law’s definition of full-time to 40 hours a week from 30 hours so worker hours won’t have to be cut.

    The timing of all this couldn’t be worse. Involuntary part-time U.S. employment is already near a record high. The latest Department of Labor employment survey counts roughly eight million Americans who want a full-time job but are stuck in a part-time holding pattern. That number is down only 520,000 since January 2010 and it is 309,000 higher than last March. (See the nearby chart.) And now comes ObamaCare to increase the incentive for employers to hire only part-time workers.

    Democrats who thought they were doing workers a favor by mandating health coverage can’t seem to understand that it doesn’t help workers to give them health care if they can’t get a full-time job that pays the rest of their bills.

    A version of this article appeared February 23, 2013, on page A12 in the U.S. edition of The Wall Street Journal, with the headline: ObamaCare and the ’29ers’.

  27. yome says:

    We should have went with one payee system

  28. yome says:

    Companies refuse to pay for spouse health insurance another way they are cutting cost

  29. anon says:

    agreed. that’s why we shouldn’t allow the failed policies of the south to be imposed in the north.

    joyce says:
    February 23, 2013 at 2:16 pm
    24

    The disparities between state to state (region to region) is just one of countless reasons why ‘centralized’ or top-down solutions are wrong.

  30. Comrade Nom DePlume says:

    Here in East Brunswick at the Holiday Inn Express on 18. Listening to a cacophony of little girls in the pool. Christ, I need a drink.

  31. Essex says:

    Watching golf. Man I chose it over the Orangemen Vs Hoyas. Quiet is goooood.

  32. Comrade Nom DePlume says:

    [34] Sx

    I can usually filter it out. This room is small which makes it tough. Getting sympathy points from the moms for subbing in as the cheer parent

  33. Essex says:

    Has KISS guitarist Ace Frehley hit “Rock Bottom?” Because it turns out he’s got more than “Nothin’ To Lose”, having reportedly failed to pay the mortgage on his Westchester home for the past two years. And now, his bank is filing for foreclosure—which means he could probably use some advice from The Elder about now.
    The U.S. Bank National Association says the Artist Formerly Known as Space Ace owes $703,581.48, and that doesn’t include interest and late fees. Frehley borrowed the money in 2006 when he purchased his 2,441-square-foot house in Yorktown, up in Northern Westchester—but according to the foreclosure filing he stopped paying the mortgage back in March 2011. The Bronx-born Frehley apparently also hasn’t paid taxes on the property for the past two years.
    While Frehley doesn’t appear to live at the property, one of his production companies lists it as a business address, so they’ll need a new place to “Rock and Roll All Nite,” since his bank has asked the court to order a sale of the home. On the bright side, “Detroit Rock City”‘s pretty affordable these days…okay, we’ll stop.

  34. Essex says:

    One Kings Lane is currently hosting Dennis Hopper’s estate sale, and you have fewer than three days to decide whether or not their price of $15 for a genuine Dennis-Hopper-owned copy of Michael Madsen’s book of poetry is a fair one (of course it’s fair. Michael Madsen is a bruised genius, and Dennis Hopper was a modern highwayman. Buy it. Buy it for yourself, or buy it for me if it hasn’t sold out already).

    So far, items that have sold out include his collection of catalogs (both the Sotheby’s and general collection) African masks I, II and III (from Africa, just generally from Africa), a “marble insect sculpture,” a framed human bone compilation, signed Easy Rider photographs, a vintage riding crop and a Vegas cookie jar.

    Items that have not yet been purchased but are “in another member’s cart” – another member who, in all likelihood, has no intention of purchasing the item, does not even have the requisite bones necessary to purchase the item, just wants to make sure you can’t get to it now when you need it – include a vintage cane with bone handle, a vintage crown cane, and a vintage wood cane. Some jerk is attempting to hoard every single vintage cane Dennis Hopper ever brandished. If you were hoping to pick up even just one cane owned by a cinematic legend today, you are out of luck. It’s like that old saying: “Everyone loves a cane, Dave.”

    Items that are still available for purchase include “Life-Size Day of the Dead Warriors, Pair” ($29,999), Moroccan Door IV ($1,099) and some barstools.

    You have two days and 20 hours left to purchase Dennis Hoppers’ skeleton army.

  35. Comrade Nom Deplume says:

    I find myself rooting for the blueshirts, only because I hate the habs more.

  36. Mike says:

    Good Morning New Jersey

  37. Jason says:

    One of the work-arounds fast-food companies are implementing to keep employees under the 30-hour threshold, and thus avoiding the obamacare tax penalty ($2000 per employee) is to swap workers from different companies.

    For example, Mcdonald’s workers would work 20 hours at Mcdonald’s then shift over to Burger King for an additional 20 hours, and the Burger King workers would work 20 hours at Burger King and then shift over to Mcdonalds.

    This is the kind of stupidity that results when liberals dream up their utopian fantasies.

  38. It’s all over, but for the crying.

    No one will be spared.

  39. Mike says:

    8 Pretty neat map but hard to navigate

  40. Want fries with that?

  41. An observer of Jerzy says:

    TO 40 : Jason –

    I agree. Let’s stop all this liberal, humananity caring, weepy sentimental deal, and just get BlackWater or Xe or Academe or whatever it calls itself these day to round up people in the street and beat them/water board them into submission and lease them to McD, WalMart, Burker King or best yet do underground coal mining.

    Hell, I think we probably can steal back sweat shop manufacturing back from China and even India. We probably can even get one of those TV evangelist of the hour to “bless” our free market darwinian conservative enterprise.

    In fact when I think about it. The Pope and the Feudal lords of the Medieval & Dark Ages had it right. Because as any good free market conservative knows – You can’t allow a human to have a decent living wage, because they will get uppity on you, and next thing you know they will be asking for the right to actually “vote” freely, and force the job creating free marketers businemen to actually pay “taxes”.

    Jason – I hear Mississipi is calling you back. They say they need you, they said you have had the highest IQ there. When you left their average IQ went lower by 5 points. But when you moved into Jersey you drop our average NJ IQ by 10 points, and that is with Snooki & The Jersey Shore cast included.

  42. An observer of Jerzy says:

    TO Jason – This is for you.

    http://www.youtube.com/watch?v=5pXam_1YU5U

  43. An observer of Jerzy says:

    To Jason –

    Correction –

    http://youtu.be/5hfYJsQAhl0

  44. Jason says:

    Hey Jerzy,

    So liberals are really so concerned about workers having a living wage? How many jobs are sitting idle while the keystone xl pipeline is NOT being constructed?

    Put down the ny times, take off your hat with the windmill on top, and ponder that one pal!

  45. Juice Box says:

    Plenty of jobs out there if you want one. EVEN THE TBTF are hiring.

    http://www.indeed.com/m/jobs?q=Teller+Part-time+20+Hours

  46. Juice Box says:

    And I called this a while back we are turning Japanese. Today 1/3rd of
    Their workforce is Part Time no benefits, and after the last salary man dies off? Then what?

  47. pete says:

    Jason you have a source for #40?

  48. Jason says:

    Pete,

    I do, yesterday’s Wall Street Journal, page A12.

  49. Jason says:

    [50]

    It’s the lead editorial of yesterday’s WSJ , “ObamaCare and the ’29ers'”.

  50. Comrade Nom Deplume says:

    [40] Jason,

    The article points out rightly that the vast majority of businesses doing this are keeping it quiet. Just as I advise my clis that the left is reflexively adopting a “shoot the messenger” approach to quell criticism. But masking the symptoms merely promotes the disease. I expect that we will see patch legislation or aggressive rulemaking to rein in employers and force more of them to pay or play.

  51. Jason says:

    [53]

    Agreed

  52. joyce says:

    As long as we have ______’s reacting like this, we are doomed. To be critical of the ‘left’ means you favor indentured servitude? To be critical of the ‘right’ means you hate poor people?

    All the while both ‘sides’ are laughing at you

    An observer of Jerzy says:
    February 24, 2013 at 10:02 am
    TO 40 : Jason –

    I agree. Let’s stop all this liberal, humananity caring, weepy sentimental deal, and just get BlackWater or Xe or Academe or whatever it calls itself these day to round up people in the street and beat them/water board them into submission and lease them to McD, WalMart, Burker King or best yet do underground coal mining.

    Hell, I think we probably can steal back sweat shop manufacturing back from China and even India. We probably can even get one of those TV evangelist of the hour to “bless” our free market darwinian conservative enterprise.

    In fact when I think about it. The Pope and the Feudal lords of the Medieval & Dark Ages had it right. Because as any good free market conservative knows – You can’t allow a human to have a decent living wage, because they will get uppity on you, and next thing you know they will be asking for the right to actually “vote” freely, and force the job creating free marketers businemen to actually pay “taxes”.

    Jason – I hear Mississipi is calling you back. They say they need you, they said you have had the highest IQ there. When you left their average IQ went lower by 5 points. But when you moved into Jersey you drop our average NJ IQ by 10 points, and that is with Snooki & The Jersey Shore cast included.

    Jason says:
    February 24, 2013 at 8:01 am
    One of the work-arounds fast-food companies are implementing to keep employees under the 30-hour threshold, and thus avoiding the obamacare tax penalty ($2000 per employee) is to swap workers from different companies.

    For example, Mcdonald’s workers would work 20 hours at Mcdonald’s then shift over to Burger King for an additional 20 hours, and the Burger King workers would work 20 hours at Burger King and then shift over to Mcdonalds.

    This is the kind of stupidity that results when liberals dream up their utopian fantasies.

  53. chicagofinance says:

    I posted the whole thing at 3:36PM

    Jason says:
    February 24, 2013 at 11:15 am
    Pete, I do, yesterday’s Wall Street Journal, page A12.

  54. It’s all over. Only cure is to eliminate 100mm or so people. Somebody start a war, already.

  55. Comrade Nom Deplume, Scungilli Chef Extraordinaire says:

    I did not think that state governments were subject to the penalty but here is one state that is apparently implementing the 29 hour rule where it can.

    http://thinkprogress.org/health/2013/02/11/1568291/virginia-employees-obamacare/

    (full disclosure–I haven’t checked whether states are exempt from the penalty but states are generally exempt from a number of federal health and welfare and pension mandates)

  56. Comrade Nom Deplume, Scungilli Chef Extraordinaire says:
  57. Amerika: Failed European Economy, Argentine-Style Violence

  58. The Gottendammerung is upon us.

  59. chicagofinance says:

    Wholesome Family Value (Hughes Family Edition):
    Man hacks wife with cleaver in Chinatown; Nearby firefighters step in & take him down

  60. yome says:

    59 nom
    This are part time teachers on the first place with no benefits. One way to solve this is convert them to per diem workers. Basically like contractual workers. This is common to nurses working in hospitals. They dont get benefits. They call them when they need them but end up with 36 hours schedule.
    We discussed restaurants workers when this issue first came out . Will it be beneficial for the restaurants to keep on training people? It is costly to train people There will be high turn over.

  61. Anyone who really knows how to handle a cleaver should be able to fight off several firefighters.

    “Man hacks wife with cleaver in Chinatown; Nearby firefighters step in & take him down”

  62. Obviously, the guy’s wife was going to be the #2 Special tonight.

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