'50% of All Workers Made Less than $26,000 in 2010'
- Thread starter Wallace
- Start date
"Latest index: The national average wage index for 2010 is $41,673.83."
http://www.ssa.gov/oact/cola/AWI.html
http://www.ssa.gov/oact/cola/AWI.html
Quote from Wallace:
by Derek Thompson senior editor at The Atlantic Oct 20 2011
"Today we get our first look at American wages in 2010 based on payroll taxes
reported to the Social Security Administration. David Cay Johnston picks out the
most important takeaways, including:
1) Half of all workers made less than $26,364, the median wage in 2010. That
means the typical wage is at its lowest level since 1999, after adjusting for
inflation.
2) The number of millionaires increased by about 20 percent.
3) The size of the missing workforce is 10 million. The number of working people
fell by 5.2 million since 2007. But that's not the entire job deficit, because, based
on population growth estimates, 4.5 million more would have joined the workforce
between 2007 and 2011. Add it up, and you get a 10-million-worker gap."
more + additional charts:
http://www.theatlantic.com/business...010/247059/?google_editors_picks=true#slide14
So, let's get this straight:
Government continues to grow massively and the middle class continues to shrink massively, lol. Why do most of the uneducated think that big government is bad for the ultra rich and good for the middle class? Big government is good for the ultra rich, they are buddies with the government reps, they get all the big government contracts, they have their lobbyists write all the regulations to restrict competition from up and coming companies, and the middle and upper middle class always take it on the chin so big government can help out their buddies, the ultra rich. Of course they throw a few scraps to the poor.
And of course this is the evidence of history. Even in Soviet Russia, there was larger inequiality in practice than there was in the semi-capitalist USA. This is the FACT. The ruling elite in Soviet Russia lived in mansions, controlled every aspect of the lives of their subjects, and this was an almost complete command and control economy "for the people." Even "factor managers" had far higher incomes relative to their laborers than the same level of management in the USA. Statistics are tough to come by, but from studies i've seen it was something like 50 to 1, the relative wages of factory managers (read: friends and relatives of the ruling elite) to their workers, while in the USA it was more like 25 to 1 at max.