Monday, October 25, 2010

Rich Getting (A Lot) Richer - and Fast!

Some info to ponder as election day approaches...

Average, median and total wages for U.S. workers have gone down for virtually all Americans from 2008 to 2009, according to a Social Security Administration report issued this month. Article here.

Shockingly, the same report also found that one out of ever 34 U.S. workers who earned any kind of wage in 2008 earned ZERO income in 2009.

That's right, statistically speaking, every 34th person you see today who had a job in 2008 will have earned zero income in 2009.

Guess where none of this unpleasantness is evident?

You guessed it. The wealthiest U.S. citizens did just fine in 2009.

For example, in 2008 there were 131 people in the U.S. who earned at least $50 million annually. In 2009, there were only 74 such people, but their income shot up from a an average of $91 million a year to a whopping $519 million a year. That's nearly $10 million a week in pay.

That's some serious wealth pooling at the top - and fast!

So, what is more shocking? The fact that so many people are hurting due to the economic downturn or that - in the middle of all this - the wealthiest Americans keep getting wealthier...a LOT wealthier?

Questions as you go to the ballot box:
  • Why would so many Americans take such a hit in their incomes while so few Americans benefit so spectacularly within the exact same economy?
  • Why are so few people making so much money so fast?
  • Why are so many regular Americans not benefiting and growing their incomes?
  • What is more important - ensuring that really rich people can continue to get richer or that more Americans can get a job and make a living?
  • Do I think the candidate I am voting for will do something to address this situation?

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