Incomes down for most but up for wealthiest

[Faygo Kid]

Source: Associated Press

Washington — The government is reporting that 50 percent of U.S. workers earned less than $26,364 last year, reflecting a growing income gap between the nation's rich and poor.

According to the Social Security administration, there were fewer jobs, and overall pay was trending down — except for the wealthiest Americans. The number of people making $1 million or more soared by over 18 percent from 2009. There were 5.2 million fewer jobs in 2010 than in 2007, when the deepest recession since the 1930s began.

The payroll figures are based on W-2 forms submitted by employers to the IRS. The figures were posted by Social Security on its website as demonstrations raged on Wall Street and across the country protesting high unemployment and a growing income gap.

Read more: http://detnews.com/article/20111020/NATION/110200473/1361/Incomes-down-for-most-but-up-for-wealthiest

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Well, it IS breaking tonight on Associated Press.

Who could have known?

Go OWS!!

[mdmc]

1. r

[lifesbeautifulmagic]

2. remaining middle class, all the nurses, engineers, firefighters

medical workers, and so on, should sit up a little straighter on this, when a person makes $26,000 and under, as I do, you just can't get pushed down any further.

They are coming after you next.

[DarwinCares]

3. It's something obvious, but made worse by the actual numbers.

[unkachuck]

4. scrap it....

"Median compensation last year was just 66 percent of the average income, compared with nearly 72 percent in 1980."

....an economic system that doesn't provide its people with sustenance, comfort, safety and fairness is an economic system not worth having....

....it's time for a new economic system that works for the majority of Americans....we can do better.

[Cal Carpenter]

5. Yep. It is steadily going in one direction

and historical examples otherwise are the exceptions. Any gains made in the past are wiped away and we are further divided by class than ever before. Not just in America but globally. This economic system goes beyond borders and so must the resistance.

This is what is at the root of it all.

[DVDGuy]

6. Class warfare and wealth redistribution

The repubs say that the left is engaged in class warfare and wants wealth redistribution, but the truth is that the rich have been doing both for ages, conducting class warfare on anyone who's not themselves and redistributing the wealth to the wealthiest of the wealthy.

It's time to end this reverse Robin Hood scenario.

[No Elephants]

7. K & R