|October 25, 2010||74 Americans make $50 million a year, where's your share?||36 comments|
|October 25, 2010||Don't Fall for the Lies from the Right||4 comments|
"The number of Americans making $50 million or more, the top income category in the data, fell from 131 in 2008 to 74 last year. But that’s only part of the story.
The average wage in this top category increased from $91.2 million in 2008 to an astonishing $518.8 million in 2009. That’s nearly $10 million in weekly pay!
In the Great Recession year of 2009 (officially just the first half of the year), the average pay of the very highest-income Americans was more than five times their average wages and bonuses in 2008. And even though their numbers shrank by 43 percent, this group’s total compensation was 3.2 times larger in 2009 than in 2008, accounting for 0.6 percent of all pay. These 74 people made as much as the 19 million lowest-paid people in America, who constitute one in every eight workers.
What does this all mean? It is the latest, and in this case quite dramatic, evidence that our economic policies in Washington are undermining the nation as a whole.We have created a tax system that changes continually as politicians manipulate it to extract campaign donations. We have enabled ‘‘free trade’’ that is nothing of the sort, but rather tax-subsidized mechanisms that encourage American manufacturers to close their domestic factories, fire workers, and then use cheap labor in China for products they send right back to the United States.
The American economy in the three decades before Ronald Reagan’s election did not produce a mass audience for celebrating wealth. In that era, books that emphasized character sold better than today.
During the years from 1950 to 1980, the share of total income going to those at the top declined, and the real incomes of the vast majority grew much more quickly than did nearly all incomes at the very top.
In those years, America had the money, and vision, to invest in the future through education, research, and infrastructure.
In nearly three decades of Reaganism, however, we have become a society of mine-here-and-now. Now what we hear from Washington is about today, not tomorrow. War without sacrifice (or a congressional declaration). Savings without interest. More government services while lowering taxes.
In this era, the incomes of the vast majority have barely grown while incomes at the top have soared."
The Republicans were in charge for all of this debacle. Don't believe the lies they tell you now. There is a reason that the Democrats are supported by working people and the republicans are supported by business - because that's who they work for.
DON'T BELIEVE THE LIES OF THE GOP.
Please take a few minutes of your time to weed through the campaign lies being sold to you by various bloggers on this website.
One blogger has spent years now decrying President Obama - making blatant bigoted statements almost daily about how the president is a socialist, muslim, undocumented alien out to destroy America.
And now he has a blog with a picture of an African American gentlemen named Hiram Rhodes Revels, who was opposed by the Dixiecrats, Southern Conservative Democrats.
Mr Revels was a Republican before 1874 and then a Democrat. He derided the Republicans in a letterHere is what he had to say about Republicans at that time (November 6, 1875) while still a Republican in a letter to Republican President Ulysses S. Grant that was widely reprinted. In this letter, Revels denounced Ames and the Carpetbaggers for manipulating the Black vote for personal benefit, and for keeping alive wartime hatreds. (http://en.wikipedia.org/wiki/Hiram_Rhodes_Revels)
Did any one reading that particular piece think it was odd that all of a sudden this blogger who has been race-baiting, whose blogs and comments always contain the bigoted slurs against a sitting U.S. president, has posted pictures of the U.S. president as a witchdoctor, and who never, ever signs off on any piece of writing without calling the president a muslim, illegal alien, socialist, communist whatever is suddenly defending African Americans against the ONLY political party that has ever worked in their self-interest? They voted 95% for President Obama - why would you believe anyone who writes that kind of trash?
Do your own thinking. Don't pay attention to Fox News or any people spouting misinformation and opinions that come from worldnewsdaily or the Drudge Report or Andrew Breitbart.
Read news for facts. Look at both sides. Don't vote based on stupid catchphrases like "Death Panels are in Obamacare". They want to scare you to vote against your own self interest. You think things are bad now? Think about how bad they were at the end of 2008 - that's your crystal ball.