Posted on 12/18/2006 8:53:12 AM PST by GodGunsGuts
...
The portion of national income earned by the top 20 percent of households grew to 50.4 percent last year, up from 45.6 percent 20 years ago; the bottom 60 percent of U.S. households received 26.6 percent, down from 29.9 percent in 1985, according to the Census Bureau.
Meanwhile, average pay for corporate chief executive officers rose to 369 times that of the average worker last year, according to finance professor Kevin Murphy of the University of Southern California; that compares with 131 times in 1993 and 36 times in 1976.
...
(Excerpt) Read more at chron.com ...
Class envy - It isn't just for breakfast anymore.
So?
What, no BARF alert?
IIRC, these stats were thoroughly debunked in the WSJ Editorial Page last week. Stale wrong "News" alert!
"Most of the concern is among Democrats and independent voters, although a majority of Republicans — 55 percent — also called the situation serious."
___________
So much for a valid poll.
Wonder how much more in taxes Matthew Benjamin wants to pay in order to rectify this horrible injustice.
Conclusion.........
The bottom 60% needs to work smarter !!!
Unbalanced economy ping.
Now for the good news...
"Corporate profits are at their highest level since 1929"
http://money.cnn.com/magazines/fortune/fortune_archive/2006/12/25/8396760/index.htm?postversion=2006121805
Charlie Rangel has a better idea.
This means Pelosi&Co's harping about middle class wages has no traction.
[...The portion of national income earned by the top 20 percent of households grew to 50.4 percent last year, up from 45.6 percent 20 years ago; the bottom 60 percent of U.S. households received 26.6 percent, down from 29.9 percent in 1985, according to the Census Bureau...]
In other words, more people from the lower income portion of this census have moved up to the upper portion, reflecting a stonger gravitation into and upward from the middle class.
Did I read that part correctly, or did I draw conclusions based on what was left out?
Funny that these little diatribes always choose to compare the income of CEOs with average workers. CEO is of course a hated term for a hated man - the boss. And after Ken Lay and a series of high profile financial fraud cases it is somewhat synonymous with "crook".
I'd like the article re-written using these other overpaid individuals:
NBA Player salaries have risen 245% faster than average workers.
First tier Hollywood Stars have seen income increase 330% faster than average workers.
Successful World Tour of Poker players have seen income rise 1034% faster than average workers.
Thankfully in our country it still means something to work hard and achieve things. Whether in the realm of tossing a little ball through a hoop, pretending to have emotions and faking sex, or being a really good poker player. Given the huge premium paid to "the best" at these trivial pursuits the fact that a CEO (most of whom have advanced degrees and years of experience unlike those listed above) who runs a company that likely provides essential goods and services is paid a premium upsets me not at all.
Sounds like the Democrats should have let the Social Security reforms pass....so the lower income people could have benefitted from the stock market.....but NOOOOOOOOOO
And by the way the bottom 50% of wage earners in the US pay only 3% of all taxes.
This is one of the most liberally-biased articles I've ever seen.
Sounds like incentive to work hard, study hard, and do better for you and your family.
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