mods: not sure if this goes here, please move if it doesnt. just putting out facts, so no need to move to the trash bin like my other posts.
"In 1973, median earnings for men who worked full-time, year-round were $51,670 in inflation-adjusted 2012 dollars. The median earnings of men who
work full-time year-round have never been that high again."
"In 2012, the latest year for which the Census Bureau has published an estimate, the real median earnings of men who worked full-time, year-round was
$49,398. That was $2,272—or about 4.4 percent—below the peak median earnings of $51,670 in 1973."
"in the late 1970s [ceo pay] was about 30 times that of a typical worker. Today, it is more than 200 times that of a typical worker. Fast wage growth
among executives and those in the financial sector is the primary reason why incomes of the top 1 percent have exploded since 1979."
- See more at: www.stateofworkingamerica.org...
"A report on Wednesday from the left-leaning think tank Center For American Progress notes that as middle-class incomes have steadily fallen, so have
union membership rates. The middle 60 percent of households earned 53.2 percent of national income in 1968. That number has fallen to just 45.7
percent. During that same period, nationwide union membership fell from 28.3 percent to a record-low 11.3 percent of all workers."
"In 1993, when Congress capped the tax deductibility of executive pay at $1m, it allowed US corporations to deduct performance-based pay –including
stock options – from their federal income taxes. The companies use the tax-deductible stock options to lower their IRS bills. That, in turn, means
that those rich executive bonuses turn into government subsidies.
"The total cost to the US: in the neighborhood of $7bn a year at last count, according to the Economic Policy Institute."
"Income for the country's top 1 percent has soared by 275 percent over the past 30 years, while growth for the rest of us has stagnated. A new study
finds that policymakers' decisions to make the tax code less progressive played a large role in widening that gulf."
"Between 1979 and 2007, average after-tax incomes for the top 1 percent rose by 281 percent after adjusting for inflation -- an increase in income of
$973,100 per household -- compared to increases of 25 percent ($11,200 per household) for the middle fifth of households and 16 percent ($2,400 per
household) for the bottom fifth." [Center on Budget and Policy Priorities]
"The top 1 percent of households took home 22.5 percent of America's income in 2012, which is the most since 1928. Economist Thomas Piketty, author
of the bestseller "Capital in the 21st Century," suggests that this income gap not seen since the Gilded Age might be a warning that the "rich will
get richer, and everyone else will find it nearly impossible to catch up."
Read more at national.deseretnews.com...
ceos in the states make much more than the rest of the world, reducing the pay for the employees, which is one reason the rest of the worlds middle
class, like canada, are better off than we are.
most other countries where the middle class are doing well, by that i mean better than us, have far higher tax rates on the wealthy.
so hows that trickle down working out for you?