USA - Increasing Wage Gap for Last 30 Years

[sharon sanders]

Amazing Charts Show How 90% Of The Country Has Gotten Shafted Over The Past 30 Years...
Henry Blodget | Oct. 15, 2011, 6:35 PM


snip

In the past 30 years, 96% of the growth of average incomes in this country have gone to the richest 10% of the country. And in the past 10 years, the incomes of the other 90% have declined.

The next question, of course, is what has caused the shift of the past 30 years, as well as what can be done to reverse it. The cause is likely a number of factors, from globalization (the entry of 3 billion low-cost laborers into the workforce) to tax policy to technology. And there's no easy and quick solution.

But you'd certainly have to be a member of the top 10% to think that the trend over the past 30 years is okay. You'd also have to be pretty short-sighted. Because if that trend continues, and if you're in the top 10% because you own or work for a company that serves the other 90%, demand for your products will soon be going down


Read more: http://www.businessinsider.com/income-inequality-charts-2011-10#ixzz1b0jX16Vf

 

[sharon sanders]

Re: USA - Increasing Wage Gap for Last 30 Years

FluTrackers on the Wage Gap 2006:

"This kind of disparity causes a weakness in the ability of the common man to be able to accumulate savings. This accumulation insulates the economy against cyclical downturns. So by maximizing profits and therefore ?holding the line? on wages the ability of the citizens to spend the United States out of a cyclical down turn becomes unlikely. This will, ironically, affect the very profits that were targeted for optimization."

http://www.flutrackers.com/forum/showthread.php?t=7169