georgephillip
Senator
Greed kills.
US income inequality threatens any semblance of democracy left untouched by the last fifty years of neoliberal economics, and, left to its own inertia, it will kill what's remaining of the US Republic.
"Inequality of income and wealth has set in like a deep rot undermining the foundation of our society and economy.
"Uprooting it will not be simple.
I enjoy numbers and think they explain better than anything the problem, so bear with me. 'If wages had kept up with productivity over the last three decades your pay would be closer to:' states the Economic Policy Institute web page, and then one types in an income amount.
"An income of $20,000 would be $32,576, a 63% increase; an income of $40,000 would be $61,055, up 53%; an income of $60,000 would increase 40% to $83,728, and an income of $80,000 would be $101,782, up 27%.
"The median worker income for 2014 was $28,851 states the Social Security Administration (SSA), that would be $44,357 states the EPI.
"The Congressional Budget Office issued a report on income distribution in 2011, revealing that $93,900 was the average household income, and adjusting for inflation it is now $99,000.
"And adjusting to find average worker income, each worker contributes $80,379 to the national income — mean average.
"The SSA report shows the lower-earning 45% of U.S. workers earn less than $25,000, and the average income for this 45% is $10,523.
"The lower-earning 45% of workers earn in wage income about 6% of the total national income.
"Even though this seems unbelievable, you can do the simple math by following the steps in footnote below."
http://therealnews.com/t2/component/content/article/472-ben-leet/2553-uprooting-inequality-
US income inequality threatens any semblance of democracy left untouched by the last fifty years of neoliberal economics, and, left to its own inertia, it will kill what's remaining of the US Republic.
"Inequality of income and wealth has set in like a deep rot undermining the foundation of our society and economy.
"Uprooting it will not be simple.
I enjoy numbers and think they explain better than anything the problem, so bear with me. 'If wages had kept up with productivity over the last three decades your pay would be closer to:' states the Economic Policy Institute web page, and then one types in an income amount.
"An income of $20,000 would be $32,576, a 63% increase; an income of $40,000 would be $61,055, up 53%; an income of $60,000 would increase 40% to $83,728, and an income of $80,000 would be $101,782, up 27%.
"The median worker income for 2014 was $28,851 states the Social Security Administration (SSA), that would be $44,357 states the EPI.
"The Congressional Budget Office issued a report on income distribution in 2011, revealing that $93,900 was the average household income, and adjusting for inflation it is now $99,000.
"And adjusting to find average worker income, each worker contributes $80,379 to the national income — mean average.
"The SSA report shows the lower-earning 45% of U.S. workers earn less than $25,000, and the average income for this 45% is $10,523.
"The lower-earning 45% of workers earn in wage income about 6% of the total national income.
"Even though this seems unbelievable, you can do the simple math by following the steps in footnote below."
http://therealnews.com/t2/component/content/article/472-ben-leet/2553-uprooting-inequality-