2014-01-30

eviltessmacher:

awkwardsituationist:

consumer spending accounts for 70% of the u.s. economy, and the middle class accounts for 70% of consumer spending. but a shrinking middle class shut out of the nation’s economic gains means less consumer spending, which means fewer jobs and lower wages, which means less government revenue for investment in education, research and training
the spending habits of the super rich won’t make up for the drop in consumer demand, and most of their money is put back into the non-job creating financial sector. their money is also spent lobbying congress - 4 billion in 2010, up from1.5 billion in 1998 - for lower taxes and financial deregulation. but as these graphs show, a rising tide does not lift all boats. in fact, america is nearly the most wealth-unequal country in the world. consider:

42% of every american child born into poverty will remain in poverty.

the 400 richest americans own as much wealth as the poorest 150 million americans.

in 1970, the top 1% of earners took home 9% of the nation’s total income. today, the top 1% control more than 35% of the nation’s wealth.

in 1983, the poorest 47% of americans accounted for 2.5% of the nation’s wealth. in 2009, the poorest 47% of americans accounted for 0% of the nation’s wealth

the federal minimum wage is worth 20% less than it did in 1981. if minimum wage kept up with the inflation, today it would be $10.74

in the 1970’s, the average ceo earned 50 times more than the average employee. by the 2000’s it was 350 times more. the average ceo makes $5,000 an hour.

in the 1990’s, americans worked 300 more hours a year on average than workers in all other developed nations, though wages have remained stagnant or dropped.

graphs and stats from “inequality for all”. (robert reich on tumblr)

2014-01-30

Howdy y'all

My team made it into the GISHWHES 2013 Coffee Table Book!

(no subject)