Post: One of the main reasons for American discontent, i

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Crime selectors, pages, etc.

One of the main reasons for American discontent, in one graph

By Donna
July 20, 2023 9:51 am
Category: Crime

(0.0 from 0 votes)
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Hopefully the graph will appear. If not, and if you have access, I included the NYT article I copied it from.

The big question is if this situation can be rectified politically.

***

Ok, the the graph sort of came out, but for some reason the labels didn't.

The top faint horizontal line is "400% cumulative increase"

The next faint horizontal line down is "300% cumulative increase"

The next faint horizontal line down is "200% cumulative increase"

The next faint horizontal line down is "100% cumulative increase"

The bottom line of the graph starts at the left (where all the squiggly lines begin) with 1980 and continues to the right in 5-year increments.

As for the data,

- The top squiggly line shows "Change in Income, Top 0.01%"

- The next squiggly line down shows "Rest of Top 1%"

- The next squiggly lines down show "90th to 99th percentile" (red line) and "Per capita G.D.P." (bold black)

- The next squiggly line down shows "Middle 40%"

- The next squiggly line at the bottom shows "Bottom 50%"

Cited and related links:

nytimes.com

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Comments on "One of the main reasons for American discontent, in one graph":

by Indy! on July 20, 2023 10:45 am

Now you're catching on. Did the article explaining how the top 1% stole over $50 Trillion from the rest of us in the last 40 years ever make it to this board? If OD and the other rightwingers out there are wondering why there are protests - not riots (the cops started the riots) - in the streets, and homeless on every street corner, and drug use exploding, and people walking into Walmart and shooting up the place for no reason - this is where you start looking. The top 10% has hijacked the American Dream and turned it into a nightmare for most of the country.

So far as the Ds? Where are they on this? They put on the kent� clothes for a couple days, have a moment of silence for whoever got shot today, then deny student loan relief while handing the super wealthy yet another huge tax break at our expense. Or send fucking Ukraine $300 billion worth of bombs so they can collect a couple hundred million in kickbacks.

by Donna on July 20, 2023 2:20 pm

Thanks for taking a look at it as well as your comments Indy.

I'm not "catching on" - I've been fully aware of this for years and have been adversely affected by it, but I liked the way the graph shows in numbers what's been going on.

The reason I asked in my OP if this situation can be rectified politically is because outside of raising the minimum wage, the federal government has no control over how much private companies pay their employees or how much private companies charge for goods and services. Yes, Congress could raise the minimum wage to $15 or higher, but that is already being done in states and cities across the country and while it's helped some, it still isn't nearly high enough. Plus, the cost of living varies greatly by locale.

by HatetheSwamp on July 20, 2023 3:06 pm

Yes, Congress could raise the minimum wage to $15 or higher, but that is already being done in states and cities across the country and while it's helped some, it still isn't nearly high enough. Plus, the cost of living varies greatly by locale.

Correct me if I'm wrong. Congress can raise the minimum wage for federal employees. But, can it raise the minimum wage of people who work in a car wash in, say, Wyoming?

by Donna on July 20, 2023 3:10 pm

If you're doing well financially, you probably never think about how badly the bottom 89% is getting screwed. I know that prior to 2002 when I was making a good salary ($79K and full benefits in 2002) I rarely thought about it.

It's no wonder that the number of homeless people is skyrocketing.

by Donna on July 20, 2023 3:19 pm

Congress can raise the minimum wage for federal employees. But, can it raise the minimum wage of people who work in a car wash in, say, Wyoming? - Hts

Of course! There's been a federally imposed minimum wage for all workers since 1938. Don't you remember those minimum wage posters at your workplace when you were an hourly employee? It was $1.65 at my first hourly wage job in 1973.

From the link below:

"Way back in 1938, after decades of campaigning by labor rights activists, Congress passed the Fair Labor Standards Act and created the minimum wage rate for work in the United States. This guaranteed a basic level of income for all workers in the country, which helped keep families afloat during the Depression. In 2021 that minimum wage is $7.25 per hour" [where it has been stuck since 2009 - Donna]

infoplease.com

by Indy! on July 20, 2023 3:45 pm

There are plenty of other things the government could do to raise the pay of average Americans. Start by adjusting the tax rates back to where they were before Reagan starting tilting the burden from the rich onto to the poor. Use some of that to pay for things they've been taking away from us by instituting fees (read: taxes) that were not there previously (like paying to use National parks, sending more cash to states for infrastructure, etc...) Next up - jobs. What did FDR do to kick start the country during the Depression? One thing he did was created a ton of jobs - Biden wants to be the "new FDR"? 🙄 Start creating a ton of jobs with those tax dollars. Also reinstate some of those jobs that were eliminated in the last 40 years. If we can carry military "vets" who served 3 years and get medical care for life - we can add a SHIT TON more jobs with the same kind of benefits. The top tax rate should apply to everything the wealthy makes - if they take stocks instead of cash? Whatever those stocks are worth at the end of the year should be taxed. The top tax rate needs to be in the 75-90% range.

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