Friday, September 01, 2006

Are you middle class? You are being ripped off!

Kevin Drum presents the following statistics:
  • In 1970, the median income for workers age 35-44 was $29,000 (in today's dollars).
  • Today, the median income for the same worker is $32,000.
  • During that time, total income (adjusted for population) has increased by about 80%. If that growth had been spread evenly instead of going predominantly to the already rich, the median income of a middle-aged worker today would be $52,000. That's a difference of 20 grand. (And no, counting healthcare benefits doesn't change this calculation very much.)
Why is it that as total income per person has gone up 80% during that period that the worker has seen his income go up only 10.3%?

It's not like someone isn't getting that money. It's not going to the poor. It is going to the wealthy and extremely wealthy.

That's because they have taken control of the Republican Party, then gotten control of the federal government and many state governments using that Republican Party, and shifted the income increases to themselves.

Did you ever notice that most of the wealthy and super-wealthy don't work hard? Why should they? They are collecting most of the wealth created by those who actually work for a living. And why do they collect this excess wealth? Just because they are wealthy. No other reason. Most of the wealthy and super-wealthy inherited their wealth like Paris Hilton did.

So if you are middle class, you are being ripped off. Big time!

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