- Fri Jun 06, 2014 8:53 am
#41285
In 1787-1788, Arthur Young, a British agronomist, traveled extensively through the French countryside and was appalled by the extreme poverty of the area. On his return to Britain he wrote about his concerns that, if the French aristocracy refused to ease the plight of the rural citizens, the people would rise up against their rulers. The next year the French Revolution occurred.
The following facts are from two recent books that I read. The books are, Divided by David Cay Johnson and Capital by Tomas Piketty.
1. Right after the Bush inauguration a WH spokesman (Deputy Press Secretary) was asked what the average wage in the US was as shown on the US tax returns. His answer, “Probably about $250,000.” The real figure was $28,000.
2. By 2012, real income (expressed in 2012 dollars) went from $35,584 (in 1973) to $30,997 (in 2012.)
3. Between 1998 and 2011 average weekly wages stagnated at $533-$546. In 2012 average weekly wages dropped to $529.
4. Of the 153.6 million Americans that have a job, almost 1/3 make less than $15,000 a year.
5. Since 1980, there have been 32 Million bankruptcy filings out of about 100 million US households.
6. In 2012 the number of people earning $5 million or more annually increased by 27% over 2011.
7. By 2012, the average US income US income fell to 1966 levels (-15.7% as adjusted for inflation.)
8. The top 1% of earners saw their income, in the same period grow by 153%.
9. The share of taxes paid by the top 1% has fallen by 60% from 1961 levels.
10. The US trails only Romania in the number of children living in Poverty.
11. Today, 1 in every 52 people have no income other than food stamps.
12. Since the seventies we have lost about 50,000 factories and 2.8 million jobs have been lost to China.
“An imbalance between rich and poor is the oldest and most fatal ailment of all republics.”
Plutarch, Greco-Roman historian 46-120 C.E.
The following facts are from two recent books that I read. The books are, Divided by David Cay Johnson and Capital by Tomas Piketty.
1. Right after the Bush inauguration a WH spokesman (Deputy Press Secretary) was asked what the average wage in the US was as shown on the US tax returns. His answer, “Probably about $250,000.” The real figure was $28,000.
2. By 2012, real income (expressed in 2012 dollars) went from $35,584 (in 1973) to $30,997 (in 2012.)
3. Between 1998 and 2011 average weekly wages stagnated at $533-$546. In 2012 average weekly wages dropped to $529.
4. Of the 153.6 million Americans that have a job, almost 1/3 make less than $15,000 a year.
5. Since 1980, there have been 32 Million bankruptcy filings out of about 100 million US households.
6. In 2012 the number of people earning $5 million or more annually increased by 27% over 2011.
7. By 2012, the average US income US income fell to 1966 levels (-15.7% as adjusted for inflation.)
8. The top 1% of earners saw their income, in the same period grow by 153%.
9. The share of taxes paid by the top 1% has fallen by 60% from 1961 levels.
10. The US trails only Romania in the number of children living in Poverty.
11. Today, 1 in every 52 people have no income other than food stamps.
12. Since the seventies we have lost about 50,000 factories and 2.8 million jobs have been lost to China.
“An imbalance between rich and poor is the oldest and most fatal ailment of all republics.”
Plutarch, Greco-Roman historian 46-120 C.E.
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