Comment by Jesus_Was_A_Man_Or_Myth_Or_Both on October 27, 2011 at 10:15pm

CHART: Typical Hourly Wage Went Up Just $1.23 In The Last 36 Years

By Guest Blogger posted from ThinkProgress Economy on Oct 27, 2011 at 3:45 pm

Our guest blogger is Laura Pereyra, special assistant for communications at the Center for American Progress Action Fund.

Flickr photo by Saad Akhtar

In a speech yesterday, House Budget Committee Chairman Paul Ryan (R-WI) claimed that President Obama created “class resentment” by calling for slightly higher taxes on the wealthiest Americans. At the same time, Occupy Wall Street protesters continue to speak out in favor of an economy that works for everyone, not just those at the top of the income scale.

Could their frustration be a product of the increasing inequality rather than Obama’s “divisive rhetoric?”Absolutely. In fact, a New York Times/CBS News poll released yesterday found that two-thirds of Americans believe “that wealth should be distributed more evenly in the country.”

As noted by the Half in Ten Campaign’s new report, “Restoring Shared Prosperity: Strategies to Cut Poverty and Expand Economic Growth,” the hourly wage of a typical worker grew from $14.73 in 1973 to $15.96 in 2009, for a raise in real terms (after accounting for inflation) of $1.23 over 36 years. Yes, you read that right. Only $1.23, an 8.4 percent increase over the last 36 years.

Top earners, meanwhile, saw a gain of $12.70 per hour gain (30 percent) over the same time frame. The growing gaps between the wealthy and everyone else could not be more stark.

 

 

Even 68 percent of millionaires, according to a survey from the Spectrem Group, agree that the rich should get taxed more. It’s not in the interest of America to have people fall out of the middle class and into an increasing population living in poverty, as the economy continues to suffer through a slow recovery. The middle class is the engine of America’s economic growth.

A report released this week by the Congressional Budget Office found that between 1979 and 2007, income grew 275 percent for the richest one percent of Americans, but by just 18 percent for those at the bottom. The federal government can do something about this — from investing in our infrastructure to improving education. It can help bolster demand and the Half in Ten Campaign offers some good ideas to get us started.

 

Comment by Dustin on October 27, 2011 at 10:59pm

"To bring this home a little more vividly, take a look at the row labeled "41-60." That's the dead middle of the income distribution. If all income groups had grown at the same rate over the past 30 years, that median household would today be making about $10,000 more than they are. That's the price we pay for our growing plutocracy."

 

Well, it's an interesting statistic but working harder and doing a pristine job for your current employer , while reducing the amount of children and debt you have by buying more economical cars or purchasing a few tens of thousands of dollars less in a house mortgage - perhaps a one story house instead of 2 , or a toyota corolla instead of a camry - all those tidbits add up.  I still feel Americans are trying to live as if they WERE making an extra 10,000 a year , which would definitely make it seem like they are suffering more than they need to be than if they lived more frugally.  

 

Or didn't tithe so much.  

 

 

Comment by Jim Minion on October 27, 2011 at 11:17pm

If you look at trade agreements (NFTA as an example) good paying jobs have left the country. It has gotten to the point were the wages are starting to get low enough that Germany is talking about sending jobs to the US because the wages are too high in Germany.

Since 1979 the top 1% has seen 279% increase in income while the rest of us have seen an 18% over the same period of time.

16 trillion dollars have gone unaccounted for since 2008 and not one wall street banker or hedge fund operator have been even charged with any type of crimes.

Since Regan took office and we have started this trickle down crap the US worker has seen a steady drop in real income when you factor taxes and interest.

The banks have so much money that they don't want more deposits (don't pay any interests on accounts) they are talking about charging you more to hold your money for you..

Record profits for oil companies but the price at the pump isn't going down.

Taco Bell is hiring at $8.00 an hour so get off your ass and go to work, hell get two of those jobs so you can feed your family.

Can I tell Sassan  tell he is an a** cause he is.

 

 

 

Comment by Dustin on October 27, 2011 at 11:21pm

here is an interesting article.  It's true too.  If you work 2 jobs, one full time at a fast food joint and another part time job somewhere else - working 80 hours a week, you can be in the top 50%.  

 

But from THERE, you can easily move up with only one job.  I was moving up faster than anyone else had ever before in the Taco Bell franchise I worked at for about a year.  Within 3 months, I was training to be a shift leader and then I started training to be an assistant manager.  They make about 30 - 35k a year plus bonuses - The managers above them easily make 50k a year to about 70k a year plus bonuses.  In about 3 years or so, anyone with a quality attitude and determination to learn business and people management can do it as well.  

 

You just have to get over yourselves and the whole 'Oh, I'm better than THAT job ... ' - Well, the regional managers at fast food make quite a lot of money - it's a very safe career because people need to eat - and they get treated well in the higher management.  

 

I'm not saying the 1% are NOT making 'too much' in comparison , but I think again, as I mentioned before, the 99% truly are the ones supporting the 1% with our fickle need for high technology , entertainment / sports, etc.  

 

Those people protesting will most likely still enjoy watching their favorite teams compete - If everyone stopped watching sports and stopped watching the high end tv stars or buying the albums of top music stars, their would be no demand for it and thus those millionaires wouldn't be making so much.  We should start focusing on ourselves, our own education, throw away our tv's, invest our time in bettering ourselves at our own jobs instead of complaining that others are making more than us.  

Comment by Dustin on October 27, 2011 at 11:22pm

err sorry, article is here:  

 

http://www.financialsamurai.com/2011/04/12/how-much-money-do-the-to...

Comment by John Luikart on October 27, 2011 at 11:32pm

I think some people are missing their point.  It's not about jobs it's about wealth inequality.  Honestly I'm torn between the 2 sides.  Some jobs are valuable to society, but don't pay that much compared to their importance, like teachers, scientists, soldiers,some nurses, etc.  Some people do what what they do because they like it or maybe they have an aptitude for it.  Some scientists have to take out 10s of thousands in loans to make 50k a year does that mean they are less valuable to society than someone who makes millions by investing money into corporations? 

 

On the other hand.

There are people like steve jobs that I think desserve the right to be insanely wealthy because they have done something great.  Everywhere he went he blazed a trail of success.  He is a 1% er in so many ways. 

 

Frankly I don't think either side is completely right.  I think a population is much stronger as a whole if there is at least some governed trickle down of wealth.  But you have to be careful not to make that the norm, or people become satisfied with being mediocre. 

 

Comment by Atheist Exile on October 27, 2011 at 11:48pm

I am, politically, a moderate most comfortable in the political center.  I am dubious of the political extremes on both the left and the right.  As presented at http://coupmedia.org/occupywallstreet/occupy-wall-street-official-d..., there are currently 8 official proposed demands (subject to change) from Occupy Wall Street -- and I agree with all of them.

However, there is much on that webpage that give me pause.  The Original List of Proposed Demands includes much that has no direct bearing on labor or finance.  The war on drugs (#6), repeal of capital punishment (#8), International Human Rights Law (#11), precedence for the rights of victims (#12) . . . these are unrelated issues that make the movement seem destined to expand into a liberal-left takeover of our democracy that could well damage U.S. competitiveness in the world economy.

This concern about the ultimate intentions of the movement is further exacerbated by the Unofficial Proposed Demands.  They include demands for: Environment Responsibility Reform (#14); Martial Law procedures (#15); and official governmental pursuit of 9/11 conspiracy theories (#17).

While many of the unrelated demands are worthy in their own right, the movement (in my opinion) should stick with core issues directly related to labor and finance.  We need focus; NOT a shotgun approach.

Comment by Dustin on October 27, 2011 at 11:59pm

well, legalizing drugs would in fact create a lot of jobs and clear up the prisons a bit ... 

Comment by Atheist Exile on October 28, 2011 at 1:13am

Yes, Dustin, I'm all for legalizing non-addictive drugs.  Addictive drugs should remain illegal and enforcement should pursue the dealers -- not the addicts.

Comment by Atheist Exile on October 28, 2011 at 2:30am

I do believe that personal responsibility is of utmost importance; especially for adults.  I believe in helping hands but not handouts.  Our government should provide a safety net for those who are physically or mentally unable to care for themselves.

It's an unfortunate fact of life that far too many people are just plain lazy.  This has always been the case and probably always will be.  If able-bodied, mentally sound, people refuse to get off their asses, they deserve all the poverty they get.  Society does not owe them a goddamn thing.  Every effort should be made to prevent apathetic people from becoming a drain on the rest of us.

But what about the hard-working people living in poverty?  Labor laws should ensure that minimum wages for full-time employment are adequate enough to pay for life's essentials and HUD should ensure there's adequate housing for the working poor.  Employee rights need to be enshrined in law and employers should be held strictly accountable for any violations.

There will always be materially successful, as well as unsuccessful, people.  The stratification of society is inevitable in free countries.  You want everybody to be materially equal?  Go to Cuba.  It's not perfect but it's as close as you'll get to material equality.

I believe in free enterprise BUT WITH STRICT GOVERNMENTAL CONTROLS AGAINST EXCESSES such as monopolies, price or wage fixing, union busting, employer abuses, windfall profits, etc.  I doubt every excess can be legislated against but new laws can be enacted to prevent abusive practices as they come to light.

It's a struggle.  There's no denying that the profit motive engenders greed.  But until a better system comes along  that will meet the needs of our 320 million citizens (not to mention the 7 billion humans on this planet), capitalist free enterprise -- flawed as it is -- is still the best system currently available.  As far as I know, it's the only system capable of keeping this world of ours going.

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