Monday, October 10, 2011

This is class warfare

Them
US corporations reported $1.68 trillion in profits and $1.89 trillion in cash and liquid assets (the highest totals since record keeping began in 1952).

They've seen their taxed revenue decrease from 25 percent to less than 10 percent of all federal revenue because corporate tax rates are at their lowest level since World War II.

The richest enjoyed a 120 percent increase in their share of income and take home 23.5 percent of all the income in this country (the highest recorded percentage since 1928).

They've enjoyed an annualized rate of growth of 10.1 percent during our last period of economic expansion from 2002 to 2007 (the other 99 percent of Americans grew only 1.3 percent).

The richest receive over 65 cents of every dollar produced in this country.

In 1995, the richest 400 Americans paid, on average, 29.93 percent of their income in federal taxes, but in 2007, the last year for which the IRS has released data, the richest 400 Americans paid only 16.63

The average salary ratio between CEOs and employees has jumped to 319:1 (it was only 30:1 in the 60s.)

Us
The American worker is putting in an average of 122 hours more per year than the British and 378 hours more per year than Germans.

If median household incomes had kept pace with the economy, then median incomes in America would be closer to $92,000 instead of $52,000.

From December 2007 to June 2011, inflation-adjusted median household income fell 9.8 percent.

From June 2007 to June of this year, they said, median annual household income declined by 7.8 percent for non-Hispanic whites, to $56,320, and by 6.8 percent for Hispanics, to $39,901. For blacks, household income declined 9.2 percent, to $31,784.

Workers have seen their home equity decline 35 percent (usually their only asset).

The average American 401K is worth only $64,000; however, the average CEO retirement package is worth $83 million.

14 million don't have jobs.

46.2 million are below the poverty line.

The Gini coefficient, which measures income inequality within a society, indicates the United States is as economically unequal as Uganda.

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