Tuesday, October 4, 2011
Time For A Labor Party Movement
The Republicans in Washington in recent weeks have been accusing President Barack Obama of waging class warfare. Seems to us that war has been raging for some time -- by both political parties against the middle class.
But we'll let you decide:
• The median gross, inflation-adjusted income of American males in 1968 was $32,137. In 2010, it was $32,137. -- U.S. Census, September 2011 release.
• From 1980 to 2005, more than 80 percent of the total increase in Americans' income went to the top 1 percent. -- Slate, Sept. 3, 2010.
• In 2010, chief executives at the nation's 299 largest companies earned an average of $11.4 million in total pay, 343 times more than a typical American worker. In 1980, CEOs at the 299 largest companies received 42 times the pay of the average worker. -- CNN Money, April 11, 2011.
• Change in the median household wealth of white families since 2005: minus 16 percent. Change in median household wealth of Hispanic families since 2005: minus 66 percent. -- Pew Research Center Social and Demographic Trends project.