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Jan 25 - The Rich Are Enjoying The Recovery While Wages Fall For Everyone Else

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 Jan 25 - The Rich Are Enjoying The Recovery While Wages Fall For Everyone Else
Unread 01-25-2013, 01:30 PMJoined Apr 2006 - away - #1
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As income inequality skyrockets, a new report from the Economic Policy Institute finds that the economic downturn and gradual recovery has exacerbated the trend. The wages of the richest Americans are making a dramatic comeback, while the rest of the country has seen its income drop by 1.2 percent since 2007.

The wealthiest earners took a hit in the immediate aftermath of the financial crisis, with wages declining 15.6 percent from 2007 to 2009. But these individuals will quickly recover all their losses, while the bottom 90 percent of Americans continue to see their wages shrink:
As the stock market regained its value in the recovery, one would expect the top 1.0 percent to fare better than other workers—and they have, with annual wages growing 8.2 percent from 2009 to 2011 (the S&P grew 37.4 percent over this period). As the recovery continues and the stock market sustains its growth, the top 1.0 percent of wage earners are likely to quickly recoup all of the ground lost in the downturn.

In contrast, annual wages of the bottom 90 percent of earners eroded by 0.6 percent in the downturn—and by a further 1.2 percent in the 2009–2011 recovery. This is not surprising given the persistently high unemployment over this period. Meanwhile, high-wage earners from the 90th to the 99th percentile enjoyed wage growth in the recovery—and are the only wage earners to have higher wages in 2011 than in 2007.

Entrenched wealth-friendly policies have helped smooth the recovery even more for the super-rich. Even under President Obama, maligned by conservatives as “anti-business,” chief executives have seen their paychecks grow steadily. And as top earners’ total incomes — including wages, capital gains, and other a.ssets — recovered, they also benefited from lower tax rates (only some of which was addressed by the recent deal to avert the so-called “fiscal cliff”).

As the EPI report notes, income inequality shot up in recent decades, paused during the economic downturn, and then began growing again in the recovery. The richest 20 percent currently make eight times more than the bottom 20 percent in nearly every state.

The Rich Are Enjoying The Recovery While Wages Fall For Everyone Else | ThinkProgress
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11 comments for "Jan 25 - The Rich Are Enjoying The Recovery While Wages Fall For Everyone Else"

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Unread 01-25-2013, 04:37 PMJoined Sep 2005 - away - #2
TB 62 heat pts62 space
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if folks refuse to work and shut the country down, even if just for a day, then they'll get it together cause stocks will drop but we're too divided and folks too stuck on material sh*t to actually pay attention
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Unread 01-25-2013, 04:40 PMJoined Jan 2007 - on now - #3
Ham Rove 2409 heat pts2409 space
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PBS just put out a documentary id recommend checking out, its called untouchables.
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Unread 01-25-2013, 04:43 PMJoined Nov 2004 - away - #4
JBeezy 1 heat pts space
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It's really not that hard to understand.

The stimulus and monetary policy that the general public demands in order to "save" the economy benefits the banks and Wall Street first and foremost.
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Unread 01-25-2013, 10:35 PMJoined Jan 2006 - away - #5
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Originally Posted by TB
if folks refuse to work and shut the country down, even if just for a day, then they'll get it together cause stocks will drop but we're too divided and folks too stuck on material sh*t to actually pay attention
u right breh...


all we need is unity and we can fix this whole sh*t in 30 days tops..

but..
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Unread 01-26-2013, 04:43 AMJoined Jun 2010 - away - #6
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Originally Posted by 9.18
u right breh...


all we need is unity and we can fix this whole sh*t in 30 days tops..

but..
People in this country still can;t get past skin color, so doing this is beyond impossible.
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Unread 01-26-2013, 07:38 AMJoined Aug 2006 - away - #7
philly337 15 heat pts15 space
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Nothing new...the economy is recovering...every economic indicator shows that...except for one of course...unemployment

these companies are back to making record profits but have not hired the work back from before the recession.
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Unread 01-26-2013, 08:48 AMJoined Apr 2012 - away - #8
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Unread 01-26-2013, 08:49 AMJoined Apr 2012 - away - #9
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Unread 01-26-2013, 09:26 AMJoined Jan 2008 - away - #10
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Originally Posted by 9.18
u right breh...


all we need is unity and we can fix this whole sh*t in 30 days tops..

but..
Originally Posted by WalmartRollback
People in this country still can;t get past skin color, so doing this is beyond impossible.
Originally Posted by philly337
Nothing new...the economy is recovering...every economic indicator shows that...except for one of course...unemployment

these companies are back to making record profits but have not hired the work back from before the recession.
they keep us divided to so this sh*t dont happen
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Unread 01-26-2013, 10:43 AMJoined Feb 2004 - away - #11
getyagameup 24 heat pts24 space
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Originally Posted by TB
if folks refuse to work and shut the country down, even if just for a day, then they'll get it together cause stocks will drop but we're too divided and folks too stuck on material sh*t to actually pay attention
well, sooner or later there won't be any money for the 99% and there won't be much else to focus on media wise or material wise cuz there won't be any money, so maybe then, MAYBE, after everything is gone or at risk to being gone, mothrfu*krs will wake the fuk up and try to start handling business. hopefully that's right before there are tanks in the streets.......

Originally Posted by NoTitleSince73
PBS just put out a documentary id recommend checking out, its called untouchables.
will do....

Originally Posted by 9.18
u right breh...


all we need is unity and we can fix this whole sh*t in 30 days tops..

but..
we too busy talking about having gold all in my chain, and gold all in my range. the white folks set this sh*t up well....gotta give it to them. they have done such a mental and physical fu*king of the africans they took from africa and all there descendants that i actually have to give them some props. now they have us wanting their sh*t and to be like them. got dudes wanting bentleys....chicks wanting fake nails and weaves and implants....white people are fu*king evil. not all of them however mostly the ones with money and power. sh*t can't stay like this forever.........

Originally Posted by WalmartRollback
People in this country still can;t get past skin color, so doing this is beyond impossible.
and that's by design. white folks know what they are doing. they know they completely sh*tted on minorities since they got here. left a serious open wound in race relations that is nowhere near healing and that sore continues to be an issue today and will always be until it's addressed. and that prolly won't happen because the mere presence of this conversation is enough of a distraction to take people's mind off of the other heinous sh*t they have going on. gotta give it to the white man. they know how to divide and conquer really well.

Originally Posted by YoungKazzy
dude has anger issues.....

Originally Posted by cuddyduce
they keep us divided to so this sh*t dont happen
they sure do, and do it well. bands can make her dance.......gold all in my chain......

its not like we disagree with them and do our own thing. we follow them....right down the path of damnation, literally...this damn nation.
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