Average Joe Six-pack worth at least $1.2 Million

[Tom Wetmore]

Palin has finally released her financial data - Palin - Average Joe Six-Pack?

[Dr. Shane]

The average income in Alaska is nearly $80,000/year. Fishermen can earn more in 3 months than a surgeon in the continental United States does in a year. Given the cost of living difference between the continental US and Alaska, Palin's $1.2 million is about the same as $500K in the 48 states. Since she and her husband is both a fisherman and a worker on the northern slope oil fields, it isn't surprising they have been able to accumulate a nice nest egg. In fact, it is to their credit that they are not living beyond their means in debt.

[Neil D]

Quote:

Palin this week characterized herself as "an everyday, working-class American" who knows how it feels when the stock market takes a hit.

I don't know any "average joe six-pack" worth 1.2 million dollars.

Shoot, I like to make 1/10 that amount....

[Amelia]

I would say that anyone that has 1.2 mil, is way above average.

[Dr. Shane]

Most union members are making more than average Americans. Most oil workers also make more than average Americans. It than follows that Alaskan, union, oil workers make more than average Americans. Like most Americans, Palin's stocks are in her 401K plan. The point is that the Palins make their money like the average Joe Six-pack. Alaskan fishing and working in the oil fields is not easy work and it is not white collar work.

[Dr. Shane]

I don't know any "average joe six-pack" worth 1.2 million dollars.

Shoot, I like to make 1/10 that amount....

That is their life savings, including the value of their home, not their annual salary. Two parents working in a state with an average salary of about $80,000 that comes to... let's do some quick math...

????

+ + + +

x x x x x x

- - - - -

= = = = = =

Oh yes, $160,000. Now how many years would a household making $160,000 have to work to acquire $1.2 million in assets?

Hmmmmm, if they were able to save or invest 50% of that income and the principle by itself, without any appreciation, would reach $1.2 million in 15 years.

Sounds to me like they are frugal and not living beyond their means.

[Tom Wetmore]

The average income in Alaska is nearly $80,000/year.

A guess a bit over the mark... From the article - "That [Last year Palin income of $230,000] compares to a median income of $64,333 for Alaskans and $50,740 for Americans in 2007, according to the Census Bureau." (Shane, actually read an article before you try to commnet on it...)

Sarah Palin, as governor was paid per diem to sleep in her own home and travel expenses for her husband and kids to travel with her on official State business of more than the average American earns. And tax free!?!?

Originally Posted By: Shane

...Given the cost of living difference between the continental US and Alaska, Palin's $1.2 million is about the same as $500K in the 48 states...

Where on earth did you come up with that bit of nonsense! The cost of living is not substantially different in Alaska than it is in the rest of the country, certainly not two times higher.

And seriously, Shane, how many people do you know that actually save 50% of their income!?!?

Sounds like a bit of Republican spinning...

I think it is obvious why this info was intentionally delayed until after the debate...

[Woody]

Quote:

Where on earth did you come up with that bit of nonsense! The cost of living is not substantially different in Alaska than it is in the rest of the country, certainly not two times higher.

I believe this to be true but would be glad to hear from an Alaskan native ... if there are any.

I also saw on the news ... that Palin's income was only $129,000. So, I would want to double check your figures. They may have been Demo influenced.

[Dr. Shane]

A guess a bit over the mark...