Well that's what was reported by CNN anchor Wolf Blitzer and their congressional correspondent Ed Henry on
News from CNN today.
Wow, now where did they get this statistical fact from and what person of economic interest were they quoting? Greenspan, Gregory Mankiw, Treasury Sec. Snow? Or what think tank or govt agency stat where they citing...census bureau, Cato Institute? Well believe it or not, none of the above. The person they were discussing was
Tom Delay's daughter and that $50k=chump change fact, well, they just formed their own opinion, i.e. pulled it out of their asses.
More on the flip.
Around noon today, Wolf Blitzer was discussing the trials and tribulations of poor Tom Delay when Wolf turned the subject to Delay's questionable practice of nepotism.
News from CNN
Blitzer: One other question before you, I let you go. The $500,000 that his wife and daughter took is from his political action committee, his PAC. What has he explained about that? Because certainly on the surface that doesnt necessarily look that great. Although I take it, it's a lot more common with members of Congresss than would meet the eye.
Henry: I think it would be a lot more serious for Tom Delay if he had his wife and daughter on his personal payroll and the taxpayer's were picking it up. Instead, this is political money. It may look a little odd but the fact of the matter is, just like the travel, there are a lot of law makers in both parties who have family members on their company payrolls. Again it may look a little odd but its not illegal. Not improper, according to any of the agencies involved.
Now wait a minute Mr. Ed, just because Tom Thumb is paying his wife and daughter from a political fund does not mean the taxpayers aren't "paying for it". Lots of taxpayers paid for it in the form of lost jobs and lower wages because Tom felt the need to accept renumeration in the form of trips to S. Korea and Saipan and then he comes back to the U.S. and does nothing to stop the flow of manufacturing jobs overseas. And as for that "not improper, according to any of the agencies involved" line, from what I understand there is still an ongoing investigation by the Justice Dept and the Travis County District Attorney's office in Texas.
But here comes the kicker
Henry: And also this was $500,000 over the course of 3 or 4 years and so when you spread it out for example, Tom Delay's daughter made about $50,000 a year as a chief fundraiser. $50,000 sounds like a lot in one year for a lot of people around the country, but in Washington, as you know, these political operatives, $50,000 is chump change. That's not a lot of money at all. So in context I dont think that's quite as serious as the travel.
Blitzer: You'd be surprised to know that $50,000 a year even outside of Washington is not necessarily all that high of a salary either. But then again it's relative.
OH.MY.GOD. Where do I start? In the first place, it's obvious Henry didnt take too many math classes in college. If I am generous and believe that baby Delay got half of the $500k, that's $250K. Divided by 3 years, its $83K/yr. Divide it by 4 years, its $63K/yr. Second if I use his figure $50K/yr, that is far from
chump change! According to the
U.S. Census Bureau's income figures for 2003, the median household income in the country was $43,318. Another telling stat from the census was that 41 out of the 50 states' median income is under $50K/yr.
And almost all of those chump change states are of the red variety.
I wonder what would happen to Wolfie and Mr. Ed if they walked through the hills of W.V., median income of $32K/yr, and snickered about how $50k/yr is chump change. After getting their media elitist asses kicked, I am sure they would hear people telling them that an extra $18K/yr would equal $350 a week! To ordinary, everyday people that means health insurance coverage, ability to fix a home or car and/or money to put aside for your child's education. When I hear shit like this from the so called liberal media, I can go kick the tv tube in. Wolfie does make a telling point, that it's
relative. It is becoming more obvious everyday that the overpaid talking heads in the media can no longer relate to us chump's making change.
- 80% of Americans earn less than $50,000 a year
- 60% of Americans don't own any stocks or bonds
- And just 10% of Americans own 80% of all stocks and assorted securities
According to The Phrase Finder, the origin of Chump Change:
"Chump"-- meaning a stupid person, dates back to 1883 and prior to that "meant a thick butt of wood," according to "Listening to America" by Stuart Berg Flexner (Simon and Schuster, NY, 1982). I am assuming that the term "chump change" takes its meaning from that word. Here are definitions from "Black Talk: Words and Phrases from the Hood to the Amen Corner" by Geneva Smitherman (HOughton Mifflin Co., Boston, 1994). "Chump change - A small amount of money. Also crumbs. Crumbs - 1. Low-life people. 2. Unimportant people, not necessarily low-life. 3. See chump change." A usual movie scene featuring this phrase has a big time drug dealer telling the poor-but-honest character holding down an ordinary job tht he is just working for chump change. So that's what Ed Henry was talking about.
Please take a moment and click on Wolf Blitzer@CNN and Ed Henry, CNN reporter. These links take you directly to CNN's comment page for their anchors and reporters. I just sent Wolfie a email stating that I am a chump earning a chump's salary teaching high school chemistry to future chumps.
Please recommend so we can get as many notes to El Lobo and Mr. Ed as possible. Thanks