Sunday, October 23, 2011

Earnings of 99% Fell $4.5 Billion; Earnings of 1% Rose $120 Billion

That should make people mad -- all people, including the rich. That's just wrong. But people need to be more than angry. They have to have a better understanding of how business works and then they have to find solutions. Occupy Wall Street needs to move to phase two, and they need to do it fairly soon. While phase one brought the problem to light, there needs to be a second phase that talks about solutions.
Fifty percent of U.S. workers earned less than $26,364 last year, and those earning less than $200,000 per year - roughly 99 percent of Americans - saw their earnings fall a collective $4.5 billion. 
There were fewer jobs, and overall pay was trending down -- except for the nation's wealthiest, who saw a boost.

While the incomes of the top 1percent of the country rose slightly in 2010 (from $1,909,874 in 2009 to $2,196,124 last year), their collective wage earnings rose dramatically, by about $120 billion. CBS