Friday, January 20, 2012

Newsweek lays out the case for class warfare. The rich are winning















Read it and weep. http://www.thedailybeast.com/newsweek/2012/01/15/niall-ferguson-a-conservative-take-on-america-s-economic-divide.html

Rich America, Poor America. Newsweek Jan 23, 2012.

"Adjusted for inflation, the income of the average American male has essentially flatlined since the 1970s, according to figures from the Census Bureau. The income of the bottom quarter of U.S. families has actually fallen. It’s been a different story for the rich."

Median compensation for CEOs of 500 largest corporation
1970 $1 million
2010 $13 million (1200% increase)

Median income in USA
1975 $12,000
2010 $49,000 (308% increase)

Percentage of income going to the top 1%
1933 24%
1973 09%
2007 24%



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