Illustrating Income Inequality

From the Washington Post.

The top 10% are making over 40% more and the rest are making 1% less?
Nevermind the top 0.1% who are making 400% more.

That’s class warfare, no?

Especially since “the number of Americans living below the official poverty line, 46.2 million people, was the highest number in the 52 years the bureau has been publishing figures on it.” (NYTImes) (The poverty line in 2010 for a family of four was $22,314.)

As pointed out by Barbara Ehrenreich, author of Nickel and Dimed, this percentage of people in poverty should be added to those desperately struggling to get by living paycheck to paycheck. The working poor. These two groups combine to approximately half of the country. In fact, from her website,

75% OF AMERICAN WORKERS DON’T HAVE DECENT WAGES AND BENEFITS

Washington, DC — Only 25.2 percent of American workers have a job that pays at least $16 per hour and provides health insurance and a pension, according to a new study by the Center for Economic and Policy Research.

The report, “How Good is the Economy at Creating Good Jobs?” found that between 1979 and 2004 the share of American workers in good jobs remained unchanged at about 25 percent, despite strong economic growth over that period. (The report defines a “good job” as one that offers at least $16 per hour or $32,000 annually, employer-paid health insurance and a pension.) In the last quarter century, the U.S. workforce has become older, more experienced and better educated, but 75 percent of workers are still struggling in jobs that do not provide health insurance, a pension and solid middle-class wages.”

Since 1979, inflation-adjusted GDP per person increased 60 percent, but the percentage of workers in good jobs remained unchanged at about 25 percent.”

And there you have it. There is more money in the economy, it’s just that it’s all going to just a few people in positions of power.


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