Here’s something for someone who is middle class and anti-union to consider:
The decline of unions — 11.3 percent of workers were represented in 2012 compared with 20.1 percent in 1983 — has advantaged bosses at the expense of their employees.
Why does this matter?
Even those with college degrees are having trouble keeping up, he said. While they earn more than those with less schooling, they’ve seen no real wage growth in recent years. The median income of men 25 years of age and older with a bachelor’s degree was $56,656 last year, 10 percent less than in 2007 after taking account of inflation, according to Census data.
Surely someone did well last year. Stock prices set an amazing number of records:
[R]ecord-high stock prices are enriching wealthier Americans, exacerbating polarization and bringing income inequality to the political forefront. Even independent government agencies like the Securities and Exchange Commission and the Federal Reserve have been dragged into the debate. …
The richest 10 percent of Americans earned a larger share of income last year than at any time since 1917, according to Emmanuel Saez, an economist at the University of California at Berkeley. Those in the top one-tenth of income distribution made at least $146,000 in 2012, almost 12 times what those in the bottom tenth made, Census Bureau data show.
- Americans on Wrong Side of Income Gap Run Out of Means to Cope – Bloomberg (bloomberg.com)
- Americans on the wrong side of pay gap run out of means to cope (stltoday.com)
- Income gap grows againafter recession (jsonline.com)
- Americans on Wrong Side of Pay Gap Run Out of Means to Cope – Bloomberg (jdeanicite.typepad.com)
- Emmanuel Saez and Thomas Piketty’s Graph of the Year (washingtonpost.com)