The people have been living with wage decline since republicans have had a voice in government!
For working people the economy has been in recession since 1973.
The GOP and the rich corporatra¬tists have made a mess of everything¬.
1. Before 1973, The inflation Adjusted Median Income rose at 2.5% per year:
1953 = $22,648
1973 = $34,762
2. From 1973 to 2009, Inflation Adjusted Median Income fell by $2,578.
1973 = $34,762
2009 = $32,184
U.S. Census
3. The same thing shows up in Weekly Earnings.
All earners:
1979 = $339
2008 = $339
No Change over 30 years
Men:
1979 = $412
2010 = $389
DECREASE of $23/week
BLS
4. While per capita GPD has doubled:
1969 = $21,021
2010 = $42,517
USDA
5. This is accomplish by shifting the income distributi¬on:
Share Of Aggregate Income by Quintile:
BOTTOM 20% - 1967: 4.0% 2009: 3.4% Change: -0.6%
LOWER MIDDLE - 1967: 10.8% 2009: 8.6% Change: -2.2%
MIDDLE CLASS - 1967: 17.3% 2009: 14.6% Change: -2.7%
UPPER MIDDLE - 1967: 24.2% 2009: 23.2% Change: -1.0%
UPPER CLASS - 1967: 43.6% 2009: 50.3% Change: +6.7%
BLS
Bottom line message: WORK MORE, PRODUCE MORE, BUT GET LESS”
Wednesday, April 11, 2012
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