Many workers discounted the Ocupy protests as a bunch of extremists bent upon getting media attention. The 1% versus the 99% message may have resonated but some workers failed to fully identify with the protests, often due to the media’s misprepesentations and misinformation. But the facts still remain no matter who is delivering them. Citigroup, an organization not prone to hyperbole or likely to be associated with the Occupy Movement declared that the inequality of income in the US is the greatest since 16th century Spain.
1% of Americans controlled 40% or more of its wealth.
Since 2008, corporate profits have risen 20.1% a year. Meanwhile, average family incomes rose just 1.4% annually.
In 2011, the top 1% captured not just 100% of the nation’s growth, but 114%. That means the other 99% actually lost ground.
12 million Americans are still without work. Another 8 million are working part time but would rather be working full time. Many have given up looking. Wages, meanwhile, continue to fall behind inflation. The real median wage is about 8 percent below where it was in 2000. High unemployment has all but eliminated the bargaining power of most workers, as has the attacks on their unions - thereby allowing corporations to keep wages low. This means higher profits.
Businesses have been investing in new technologies so now corporations can produce and perform more with less people on their work-force. That means higher profits for them, but it also means lower wages and fewer jobs for us.
Globalization has brought profits to big corporations. U.S.-based multi-nationals have been expanding and hiring in Asia and Latin America where markets are growing fastest, keeping their untaxed profits off-shore, while cutting back on jobs and wages at home.
People who invest in the stock market are receiving high returns and those who rely living on wages have continued to suffer from the recession.
1% of Americans controlled 40% or more of its wealth.
Since 2008, corporate profits have risen 20.1% a year. Meanwhile, average family incomes rose just 1.4% annually.
In 2011, the top 1% captured not just 100% of the nation’s growth, but 114%. That means the other 99% actually lost ground.
12 million Americans are still without work. Another 8 million are working part time but would rather be working full time. Many have given up looking. Wages, meanwhile, continue to fall behind inflation. The real median wage is about 8 percent below where it was in 2000. High unemployment has all but eliminated the bargaining power of most workers, as has the attacks on their unions - thereby allowing corporations to keep wages low. This means higher profits.
Businesses have been investing in new technologies so now corporations can produce and perform more with less people on their work-force. That means higher profits for them, but it also means lower wages and fewer jobs for us.
Globalization has brought profits to big corporations. U.S.-based multi-nationals have been expanding and hiring in Asia and Latin America where markets are growing fastest, keeping their untaxed profits off-shore, while cutting back on jobs and wages at home.
People who invest in the stock market are receiving high returns and those who rely living on wages have continued to suffer from the recession.
No comments:
Post a Comment