We live in a society that allows one man to make $15 million a day while a low-income mother gets $4.50 a day for food, and much of Congress wants to cut the $4.50.
One out of every five American children now lives in poverty, and for black children it's nearly one out of two. Almost half of food stamp recipients are children. UNICEF places the US near the bottom of the developed world in the inequality of children's well-being, and the OECD found that we have more child poverty than all but 3 of 30 developed countries.
Three-quarters of Americans approaching retirement in 2010 had an average of less than $30,000 in their retirement accounts. The percentage of elderly (75 to 84) Americans experiencing poverty for the first time doubled from 2005 to 2009. According to the Urban Institute the average two-earner couple making average wages throughout their lifetimes will receive less in Social Security benefits than they paid in. Same for single males. Almost the same for single females.
Over 200 recent studies have confirmed a link between financial stress and sickness. In just 20 years America's ranking among developed countries dropped on nearly every major health measure. Victims suffer both physically and mentally. A recent study found that unemployment, whether voluntary or involuntary, can significantly impact a person's mental health. Even grimmer, from 1999 to 2010 the suicide rate among Americans ages 35 to 64 increased by almost 30 percent.
The Bureau of Labor Statistics reveal that women earn just 80% of men's pay. In Washington, DC and California, Hispanic women make only 44 cents for every dollar made by white men. Overall disparities have worsened since the recession, with only about one-fifth of new jobs going to women, and with median wealth for single black and Hispanic women falling to a little over $100. And there's no respite with advancing age. The average American woman's retirement account is 38 percent less than a man's, and women over 65 have twice the poverty rate of men.
According to the Economic Policy Institute (EPI), median wealth for black families in 2009 was $2,200, compared to $97,900 for white families. ( Pew Research reported $5,677 for blacks, $113,149 for whites). EPI said median financial wealth (stocks, etc.) was $200 for blacks, compared to $36,100 for whites. Since the recession, black and Hispanic wealth has dropped further, by 30 to 40 percent, while white family wealth dropped 11 percent.
Workers have 30% LESS buying power today than in 1968. If the minimum wage had kept up with employee productivity, it would be $16.54 per hour instead of $7.25. Almost unimaginably, conditions for workers have gotten even worse since the recession. While 21 percent of job losses since 2008 were considered low-wage positions, 58 percent of jobs added during the recovery were considered low-wage.
The number of college graduates working for minimum wage has doubled in just five years. Tuition costs that have risen almost ten times faster than median family income, leading to an average of $26,000 in student loan debt.
North Carolina made it a crime to feed the homeless. Columbia, South Carolina approved a plan to remove them. Tampa, Florida passed a law that makes it a crime for them to sleep in public. But don’t fear, in the land of democracy, the law applies equally to both rich and poor alike to sleep under bridges and beg in the streets.
Taken from here
One out of every five American children now lives in poverty, and for black children it's nearly one out of two. Almost half of food stamp recipients are children. UNICEF places the US near the bottom of the developed world in the inequality of children's well-being, and the OECD found that we have more child poverty than all but 3 of 30 developed countries.
Three-quarters of Americans approaching retirement in 2010 had an average of less than $30,000 in their retirement accounts. The percentage of elderly (75 to 84) Americans experiencing poverty for the first time doubled from 2005 to 2009. According to the Urban Institute the average two-earner couple making average wages throughout their lifetimes will receive less in Social Security benefits than they paid in. Same for single males. Almost the same for single females.
Over 200 recent studies have confirmed a link between financial stress and sickness. In just 20 years America's ranking among developed countries dropped on nearly every major health measure. Victims suffer both physically and mentally. A recent study found that unemployment, whether voluntary or involuntary, can significantly impact a person's mental health. Even grimmer, from 1999 to 2010 the suicide rate among Americans ages 35 to 64 increased by almost 30 percent.
The Bureau of Labor Statistics reveal that women earn just 80% of men's pay. In Washington, DC and California, Hispanic women make only 44 cents for every dollar made by white men. Overall disparities have worsened since the recession, with only about one-fifth of new jobs going to women, and with median wealth for single black and Hispanic women falling to a little over $100. And there's no respite with advancing age. The average American woman's retirement account is 38 percent less than a man's, and women over 65 have twice the poverty rate of men.
According to the Economic Policy Institute (EPI), median wealth for black families in 2009 was $2,200, compared to $97,900 for white families. ( Pew Research reported $5,677 for blacks, $113,149 for whites). EPI said median financial wealth (stocks, etc.) was $200 for blacks, compared to $36,100 for whites. Since the recession, black and Hispanic wealth has dropped further, by 30 to 40 percent, while white family wealth dropped 11 percent.
Workers have 30% LESS buying power today than in 1968. If the minimum wage had kept up with employee productivity, it would be $16.54 per hour instead of $7.25. Almost unimaginably, conditions for workers have gotten even worse since the recession. While 21 percent of job losses since 2008 were considered low-wage positions, 58 percent of jobs added during the recovery were considered low-wage.
The number of college graduates working for minimum wage has doubled in just five years. Tuition costs that have risen almost ten times faster than median family income, leading to an average of $26,000 in student loan debt.
North Carolina made it a crime to feed the homeless. Columbia, South Carolina approved a plan to remove them. Tampa, Florida passed a law that makes it a crime for them to sleep in public. But don’t fear, in the land of democracy, the law applies equally to both rich and poor alike to sleep under bridges and beg in the streets.
Taken from here
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