Monday, April 11, 2011

Re-posted from theMasterandhisslave

I am not one for thinking beyond myself and the moment but sometimes something someone else says really stands out in my thoughts.


income inequality in the united states


in honor of the near shutdown of our entire, stupid government, i thought i'd take a look at the forces that are truly behind these so-called budget talks. there is a growing income inequality crises in america establishing new rules of class and social warfare, all disguised as "politics as usual." nobel prize winning economist joseph stiglitz puts it best: "...a big part of the reason we have so much inequality is that the top 1 percent want it that way."

since 1980, middle class wages have largely stagnated and lower class wages have declined, while the upper echelons of american society have seen a windfall. a study by university of california, berkeley professor emmanuel saez found that, as of 2007, the top decile of american earners pull in 49.7 percent of total wages in america - higher than any other year since 1917.

in the fourth quarter of 2010, profits at american corporations were up an astounding 29.2 percent, the fastest growth in more than 60 years. collectively, these corporations logged profits at an annual rate of $1.678 trillion. the median pay for top executives at 200 major companies was $9.6 million last year - a 12 percent increase over 2009 (according to a study conducted for the new york times by the equilar compensation consulting firm). meanwhile, this money is obviously not being invested in the economy or trickling down to the lower level employees because unemployment still hovers around 8.8% or more every month and job dissatisfaction is at a record high.

the point is that we, as americans, need to start questioning this stuff. sadly, however, the ideas of globalization and corporate conglomerates is over the heads of most mid-to-low level income makers in america. it's much easier to blame planned parenthood or pbs than it is to discuss the reality that global corporations hold more power than governments, are not held accountable for the amounts that they make, do not funnel it back into the economy and act as gatekeepers of information by manipulating the truth through congress members and media outlets.

our government should have been holding last minute meetings to work this shit out. the budget would be solved indefinitely.

below are some statistics examining this further:

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