Wage inequality continued its 35 year rise in 2015

[FollowTheWay]

Wage inequality continued its 35-year rise in 2015

By the end of trading Tuesday, Dec. 26, the 500 billionaires controlled $5.3 trillion, up from $4.4 trillion on Dec. 27, 2016.

Wage inequality continued its 35-year rise in 2015

"A hugely disproportionate share of economic gains from rising productivity is going to the top 1 percent and to corporate profits, instead of to ordinary workers—who are more productive and educated than ever. This rising inequality is largely the result of big corporations and the wealthy rewriting the rules of the economy to stack the deck in their favor. This has prevented the benefits of productivity growth from “trickling down” to reach most households."

Using Social Security wage data through 2014, it can be shown that the top 1 percent grew 149.4 percent, while the bottom 90 percent grew only 16.7 percent since 1979 (Mishel and Kimball 2015).

Wage growth at the bottom was faster in states that increased their minimum wage

For example, the 10th percentile women’s wage grew 5.2 percent in states with legislated minimum-wage increases, compared with only 3.1 percent growth in states without any minimum-wage increase. This is a clear indication that strong labor standards can improve outcomes even when workers generally have severely reduced bargaining power.

 

[InTheLight]

Is wage inequality a problem?

Why?

Sent from my Pixel 2 XL

 

[HeirofSalvation]

Is wage inequality a problem?

Why?

Sent from my Pixel 2 XL

No kidding, but leave it to a liberal to cite numbers showing economic growth for both wealthy and poor alike, and then complaining about it.
It is envy and covetousness of thy neighbors goods pure and simple.

 

[InTheLight]

No kidding, but leave it to a liberal to cite numbers showing economic growth for both wealthy and poor alike, and then complaining about it.
It is envy and covetousness of thy neighbors goods pure and simple.

Looks like Obama had 8 years to do something about it and didn't.

 

[Rob_BW]

Is wealth a zero sum game? Do we know that these people grew their wealth by taking wealth away from someone else?

 

[Revmitchell]

Don't Buy Into The Gender Pay Gap Myth

Using the statistic that women make 78 cents on the dollar as evidence of rampant discrimination has been debunked over and over again. That statistic doesn’t take into account a lot of choices that women and men make—education, years of experience and hours worked—that influence earnings. If we want to have a fruitful discussion about a gender wage gap, we should have it after the comparison is adjusted for those factors. In a 2013 Slate article, Hanna Rosin, author of The End of Men, for example, wrote:

The official Bureau of Labor Department statistics show that the median earnings of full-time female workers is 77 percent of the median earnings of full-time male workers. But that is very different than “77 cents on the dollar for doing the same work as men.” The latter gives the impression that a man and a woman standing next to each other doing the same job for the same number of hours get paid different salaries. That’s not at all the case. “Full time” officially means 35 hours, but men work more hours than women. That’s the first problem: We could be comparing men working 40 hours to women working 35.

Don't Buy Into The Gender Pay Gap Myth

 

[InTheLight]

Is wealth a zero sum game? Do we know that these people grew their wealth by taking wealth away from someone else?

This is the crux of the matter. The left thinks that there is only so much money to go around. In reality economics is a dynamic system. Leftists need to read up on the economic multiplier effect.

 

[thatbrian]

Wage inequality continued its 35-year rise in 2015

By the end of trading Tuesday, Dec. 26, the 500 billionaires controlled $5.3 trillion, up from $4.4 trillion on Dec. 27, 2016.

Wage inequality continued its 35-year rise in 2015

"A hugely disproportionate share of economic gains from rising productivity is going to the top 1 percent and to corporate profits, instead of to ordinary workers—who are more productive and educated than ever. This rising inequality is largely the result of big corporations and the wealthy rewriting the rules of the economy to stack the deck in their favor. This has prevented the benefits of productivity growth from “trickling down” to reach most households."

Using Social Security wage data through 2014, it can be shown that the top 1 percent grew 149.4 percent, while the bottom 90 percent grew only 16.7 percent since 1979 (Mishel and Kimball 2015).

Wage growth at the bottom was faster in states that increased their minimum wage

For example, the 10th percentile women’s wage grew 5.2 percent in states with legislated minimum-wage increases, compared with only 3.1 percent growth in states without any minimum-wage increase. This is a clear indication that strong labor standards can improve outcomes even when workers generally have severely reduced bargaining power.

"Wage inequality"??? You mean like a ditch digger has less value to society than a medical doctor? Is that what you mean?

 

[FollowTheWay]

"Wage inequality"??? You mean like a ditch digger has less value to society than a medical doctor? Is that what you mean?

I mean the top 0.1% of Americans have more wealth than the bottom 90%. Six men have as much wealth as HALF of the world's population.

 

[thatbrian]

I mean the top 0.1% of Americans have more wealth than the bottom 90%. Six men have as much wealth as HALF of the world's population.

And their crime is??? What would you have them drawn and quartered for?

 

[FollowTheWay]

And their crime is??? What would you have them drawn and quartered for?

Maintaining a flat income in real terms for most Americans for 30 years. Making the U.S. the worst developed country in terms of supporting the poor and elderly especially medical care. Controlling the government so we really don't have a democracy anymore. Who knows what else? 9/11? This is the real deep state and Trump is not fighting it but rather supporting it.

 

[thatbrian]

Maintaining a flat income in real terms for most Americans for 30 years. Making the U.S. the worst developed country in terms of supporting the poor and elderly especially medical care. Controlling the government so we really don't have a democracy anymore. Who knows what else? 9/11?

None of that makes sense. Glad you aren't the judge and jury of these people.

 

[FollowTheWay]

View attachment 1915
I mean the top 0.1% of Americans have more wealth than the bottom 90%. Six men have as much wealth as HALF of the world's population.

Notice when the U.S. peaked in equality and started to go down. The early 1980's. Ring a bell? Reagan.

 

[FollowTheWay]

None of that makes sense. Glad you aren't the judge and jury of these people.

You need to get informed about these issues. They're coming after you too.

 

[thatbrian]

You need to get informed about these issues. They're coming after you too.

Thanks. I'm safe. My tin foil helmet is firmly in place.

 

[Revmitchell]

Wage inequality continued its 35-year rise in 2015

By the end of trading Tuesday, Dec. 26, the 500 billionaires controlled $5.3 trillion, up from $4.4 trillion on Dec. 27, 2016.

Wage inequality continued its 35-year rise in 2015

"A hugely disproportionate share of economic gains from rising productivity is going to the top 1 percent and to corporate profits, instead of to ordinary workers—who are more productive and educated than ever. This rising inequality is largely the result of big corporations and the wealthy rewriting the rules of the economy to stack the deck in their favor. This has prevented the benefits of productivity growth from “trickling down” to reach most households."

Using Social Security wage data through 2014, it can be shown that the top 1 percent grew 149.4 percent, while the bottom 90 percent grew only 16.7 percent since 1979 (Mishel and Kimball 2015).

Wage growth at the bottom was faster in states that increased their minimum wage

For example, the 10th percentile women’s wage grew 5.2 percent in states with legislated minimum-wage increases, compared with only 3.1 percent growth in states without any minimum-wage increase. This is a clear indication that strong labor standards can improve outcomes even when workers generally have severely reduced bargaining power.

So? What's the problem?