The 1% Made More from their Investments in 2013 than the Entire Cost of Social Security, Medicare, Medicaid, and the Safety Net.
America's wealth grew by almost $9 trillion in 2013. The richest 1% own 34 percent of the wealth ), or about $3 trillion of the 2013 gain. That is far more than the budget for Social Security ($860 billion), Medicare ($524 billion), Medicaid ($304 billion), and the entire safety net ($286 billion for SNAP, WIC [Women, Infants, Children], Child Nutrition, Earned Income Tax Credit, Supplemental Security Income, Temporary Assistance for Needy Families, and Housing).
The Combined Salaries of 350,000 Pre-School Teachers is Less Than That of Five Hedge Fund Managers.
Pre-school teaching may be our nation's most important job. Numerous studies show that with pre-school, all children achieve more and earn more through adulthood, with the most disadvantaged benefiting the most. Hedge fund managers, at the other extreme, bet on mortgages to fail or on food prices to rise.
Since 1900, a Dollar of Labor has Grown to $127, a Dollar of Stocks to $1,247
A look at stock market growth over 114 years confirms that a dollar of capital (investment) is now worth ten times more than a dollar of labor value (wages). The gains from continued worker productivity have gone to the 10% of Americans who own almost 90 percent of all stocks excluding pensions.
Low-wage jobs ($7.69 to $13.83 per hour) made up 1/5 of the jobs lost to the recession, but accounted for nearly 3/5 of the jobs regained during the recovery. And it's getting worse. Nine out of ten of the fastest-growing occupations are considered low-wage, generally not requiring a college degree. In 2013, an 55.9 percent of employed black recent college graduates were underemployed, working in an occupation that typically does not require a four-year college degree.
Families in the top 5% made anywhere from $300,000 to $40 million -- in just one year.
From here
America's wealth grew by almost $9 trillion in 2013. The richest 1% own 34 percent of the wealth ), or about $3 trillion of the 2013 gain. That is far more than the budget for Social Security ($860 billion), Medicare ($524 billion), Medicaid ($304 billion), and the entire safety net ($286 billion for SNAP, WIC [Women, Infants, Children], Child Nutrition, Earned Income Tax Credit, Supplemental Security Income, Temporary Assistance for Needy Families, and Housing).
The Combined Salaries of 350,000 Pre-School Teachers is Less Than That of Five Hedge Fund Managers.
Pre-school teaching may be our nation's most important job. Numerous studies show that with pre-school, all children achieve more and earn more through adulthood, with the most disadvantaged benefiting the most. Hedge fund managers, at the other extreme, bet on mortgages to fail or on food prices to rise.
Since 1900, a Dollar of Labor has Grown to $127, a Dollar of Stocks to $1,247
A look at stock market growth over 114 years confirms that a dollar of capital (investment) is now worth ten times more than a dollar of labor value (wages). The gains from continued worker productivity have gone to the 10% of Americans who own almost 90 percent of all stocks excluding pensions.
Low-wage jobs ($7.69 to $13.83 per hour) made up 1/5 of the jobs lost to the recession, but accounted for nearly 3/5 of the jobs regained during the recovery. And it's getting worse. Nine out of ten of the fastest-growing occupations are considered low-wage, generally not requiring a college degree. In 2013, an 55.9 percent of employed black recent college graduates were underemployed, working in an occupation that typically does not require a four-year college degree.
Families in the top 5% made anywhere from $300,000 to $40 million -- in just one year.
From here
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