reply to post by slackerwire
In the rest of the world socialism is not a dirty word.
Yes in my opinion there needs to be a rethinking of the way wages are determined.
The gap between the highest and lowest income families is significantly wider than it was 25 years ago and with each year that gap is widening. An
analysis of income tax data by the Congressional Budget Office found that the top 1% of households own nearly twice as much of the nations corporate
wealth as they did 15 years ago.
Low and middle income families have reaped few gains since the late 1990's despite the recent years of economic prosperity. Average incomes actually
fell by 2.5% for those in the bottom fifth of the income scale and rose by just 1.3% for those in the middle fifth. Meanwhile, incomes climbed 9% for
those in the top fifth.
During 1980-2005 incomes grew much more slowly for the bottom fifth of families then for the top fifth. The richest fifth grew by and average of 39%
or $36,300. and the purchasing power of the poorest families increased by just $93.00 per year.
Before the recent downturn hit, our economy was generating solid income gains. The problem was that high levels of inequality meant that these gains
failed to reach the middle and lower income families, whose living standards stagnated or even declined.
Growing income inequality harms this nation in a number of ways, when income growth is concentrated at the top of the income scale, the people at the
bottom have a much harder time lifting themselves out of poverty and giving their children a decent start in life.
The top tenth of one percent of earners, for example, now earn four times as much as in 1980. The gains have been larger still for those even higher
up the income ladder. For more then 25 years, Business Week has conducted an annual survey of the earnings of chief executive officers of the larges
US Corporations. In 1980 those executives earned 42 times as much as the average American worker. (YOU ACTUALLY THINK THIS IS FAIR OR JUST OR
This was larger than the corresponding ratios for such countries as Japan and Germany.
By 2000 American CEOs were earning 531 times the average worker's salary
(You don't see the injustice of this?).
An example of ths is in 2006, Alpha Magazine, James Simons, a hedge fund manager earned 1.7 billion last year and two other hedge fund managers made
more than 1 billon. NOW COME ON IS ANY HUMAN BEING WORTH THAT OUTLANDISH AMOUNT THIS IS GREED GREED GREED.
The combined income of the top 25 hedge fund managers was over $14 billion in 2006.
How does this affect the rest of us? Well if it keeps going there will be no middle class only the serfs and "the kings".
Yes I think we should
-- Update unemployement Insurance systems to better reflect today's workforce.
-- Extend the amount of time workers receive benefits during an economic downturn.
-- Raise the state minimum wage and index it for inflation and
-- Maintain or improve support services such as transportation, child care and health coverage.
I also believe and maintain the upper 5% are not paying their fair share of taxes. Something has got to change, while I myself am not in the top 5% I
have been fortunate enough to be above the national average I do believe it is time for a change. It's time to re-examine the rules as wage
structures are not determined logically according to someone's real worth, they by and large are manipulated and the common man is too dumb to see
[edit on 17-8-2008 by ofhumandescent]