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US income gap widens as poor take hit in recession

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posted on Sep, 28 2009 @ 08:28 PM
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WASHINGTON – The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets. The wealthiest 10 percent of Americans — those making more than $138,000 each year — earned 11.4 times the roughly $12,000 made by those living near or below the poverty line in 2008, according to newly released census figures.

That ratio was an increase from 11.2 in 2007 and the previous high of 11.22 in 2003. Household income declined across all groups, but at sharper percentage levels for middle-income and poor Americans. Median income fell last year from $52,163 to $50,303, wiping out a decade's worth of gains to hit the lowest level since 1997.

Poverty jumped sharply to 13.2 percent, an 11-year high.

"No one should be surprised at the increased disparity," said Richard Freeman, an economist at Harvard University. "Unemployment hurts normal workers who do not have the golden parachutes the folks at the top have." Analysts attributed the widening gap to the wave of layoffs in the economic downturn that have devastated household budgets. They said while the richest Americans may be seeing reductions in executive pay, those at the bottom of the income ladder are often unemployed and struggling to get by. Large cities such as Atlanta, Washington, New York, San Francisco, Miami and Chicago had the most inequality, due largely to years of middle-class flight to the suburbs. Declining industrial cities with pockets of well-off neighborhoods, such as Pittsburgh, Cleveland and Buffalo, also had sharp disparities.


news.yahoo.com...

Well isn't this a surprise. I guess we should continue to let corporations run the country. They seem to do a wonderful job taking care of those less fortunate. Let's start voting in CEO's and Wall Street stockbrokers into goverment...oh wait we already do.

And the gap continues to widen...




posted on Sep, 28 2009 @ 08:48 PM
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Well, I hate to say it.... but this administration and the last, have probably made every decision they possibly could, to screw us over as much as humanly possible.

I have already come to accept the coming 3rd world status of America. Corruption, and all of the wealth in the hands of only a few, is something that citizens of 3rd world countries have been dealing with forever already....We should be studying their survival methods.

.....OR, better yet, let's not crowd around in small villages and starve and spread diseases amongst ourselves.... The smart people will leave the cities and refuse to be dependent on the few. The rich. The most corrupt specimens that humanity could provide.

*shrug*



posted on Sep, 28 2009 @ 09:10 PM
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reply to post by LostNemesis
 


This is what I don't get Nemesis....and I used to be at fault for this myself...

Many of the people who post here are only reflecting the information spewed to them by the corporate media/the rich....not knowing that by doing so they only hurt themselves.

They also don't realize that the top 1 percent of the population control the other 99 percent....and it's ALL because of wealth.

Even know...after all that has happened...CEO's and shareholders are living the high life while a large portion of the population struggles.

Somehow...Wall Street has gone what seems to be completely unscathed....criticism is minimal at best.



posted on Sep, 28 2009 @ 09:26 PM
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IM happy you bought this to a post! star and flag dude. I work in cvs pharmacy, in southwest CT. Well over a decade. in management. Paast year, our newer district manager has fired, 5 managers ive worked with over the years..not becuase lack of nob performance simply because he didnt like them, thats the ONLY reason. rumor has it, this guy was fired from walgreeens for fireing his managers, and another rumor was, sexual harrasemnt. HE is doing the same thing in our regional place. He is corporate like/acting. Today, my ssiter told me her boss was let go...the president told everyone he stood by his decision to do this, and are bringing in 4 new corporate people, and a new boss* She tells me , her boss was really cool and fun guy, who looked after everyones needs their. They manufacture parts for shades, blinds, and have 2 warehouses.
BEing in southwest CT, i am seeing a pttern here..its like when a place becomes corporate, they kick out the long term ones, bring in snotty ivey leagues doofuses, give them a marginal pension and salary, and they dont do much work at all. Both places, cvs and mys isters job, have what we call a snitch* a woman who works their, doing sexual favors for the boss or district manager, to get rid of those they simply do not like to look at. favortism*** here is the future of corporate america....
She is thinking of moving to Raleigh NC. kinda hope she dosnt though. ide maybe move with her. She hears its so much mroe lad back than the crazy business metropolitan area here. SHe wont, if its too hickish, whcih im hoping it is..
so! staying on topic...the corporations are making a comeback, and it sems thier starting a war* with the public. Places like CVS hire illgal immigrants, casue they work for less meony, and dont complain, when a manager or DM ect does someting sexually or verbaly wrong to someone on the job* human resources is a joke...their only thier to tkae care fo the corporate people, despise comapnys policy say its for employees too. I wonder how far this act of blatnant neglect goes on in other businesses?



posted on Sep, 28 2009 @ 09:29 PM
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IN favor and support of this thread** down with the corporations! and big business. I refuse to buy anyting from big places anymore. ive gone moreso into online, and use money orders, and gone more natural, places like mothernature.com instead fo the chemcials big places sell us in products we consume or eat..
imagine, if everyone did something like this..yeah more layoffs would happen for sure, but hey, the big places woudl eventually crumble
for screwing hard working american citizens out of their job and labor laws.



posted on Sep, 28 2009 @ 10:57 PM
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Great reminder.
I went from the top 10 percent to 0.

Thanks Congress!



posted on Sep, 28 2009 @ 11:21 PM
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reply to post by David9176
 


It's getting real hard out there, and seeing Your avatar makes it harder; real families are being hurt, and stepped on.

The average CEO level of pay now is over 300% of what their workers are making. source: www.abovetopsecret.com...

I gotta say it makes me fighting mad.

S&F



posted on Sep, 29 2009 @ 12:23 AM
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Pretty soon when iget outof the army, i too will face rough times without unemployment. Hopefully by then people will wake up and find out we need to fight for our right to a better life.



posted on Sep, 29 2009 @ 08:36 PM
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It is time to bring together all the ants to kill the spider. with out us there is no colony, we must show them that we know that we are stronger in our numbers.



posted on Sep, 29 2009 @ 11:58 PM
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Many working and lower-middle-class people are ardent conservatives, whose whole agenda is promoting the interests of corporations and big businesses.

It doesn't make sense to vote in people who care nothing for you but only for the rich. Still, because the rich supposedly share their values (or say they do), working people think they're the good guys and will blindly follow them, even when the needy are called upon to bail out the greedy (as happened with Wall Street).

You see this everyday here on ATS.



posted on Oct, 1 2009 @ 05:42 PM
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Nice to see NO ONE GIVES A DAMN.

Does everyone on ATS have loads of money?

Thanks to anyone that has replied. Where is the integrity on ATS?

I'm starting to wonder how many people are frauds that post here.....



posted on Oct, 1 2009 @ 05:44 PM
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reply to post by acewilliams
 





It is time to bring together all the ants to kill the spider. with out us there is no colony, we must show them that we know that we are stronger in our numbers.


What is BS is that 1 percent of the population decides how the other 99 percent should live...and why?

Wealth...power. The little guy has to fight and struggle to make ends meet and I'm sick and tired of all the GD bickering and political ideology to justify one's attack on ANYONE who just wants to LIVE.



posted on Oct, 1 2009 @ 05:48 PM
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Oh...and I just wanted to add how gutless and spineless I think so many of you are. You continue to ignore the ones who are hurting UNLESS IT IS YOU. Yes, I'm lucky enough to be working...and I'm still scathing by....but SO MANY ARE NOT!

But hell...let's continue fighting in 3 COUNTRIES, spending TRILLIONS OF DOLLARS while people DIE HERE.

I swear people in this country HAVE LOST IT. You are supporting your own hardships.

WHY?????????????????



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