{"id":40457,"date":"2011-10-12T09:25:43","date_gmt":"2011-10-12T14:25:43","guid":{"rendered":"http:\/\/thesocietypages.org\/socimages\/?p=40457"},"modified":"2012-02-20T16:08:40","modified_gmt":"2012-02-20T21:08:40","slug":"overview-of-u-s-economic-inequality","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2011\/10\/12\/overview-of-u-s-economic-inequality\/","title":{"rendered":"Overview of U.S. Economic Inequality"},"content":{"rendered":"<p>Shamus Khan posted a link to a great slideshow put together by the <a href=\"http:\/\/www.businessinsider.com\/what-wall-street-protesters-are-so-angry-about-2011-10\" target=\"_blank\">Business Insider<\/a> that summarizes the current state of our economy. It&#8217;s a one-stop illustration of, in their words, &#8220;What the Wall Street protestors are so angry about,&#8221; and definitely worthy of clicking over to see the whole thing. I&#8217;m posting just a few of the images here.<\/p>\n<p>The median length of unemployment for those who lose their jobs is now over 20 weeks:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-just-construction-workers-the-average-duration-of-all-unemployment-is-also-near-an-all-time-high.png\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-40458\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-just-construction-workers-the-average-duration-of-all-unemployment-is-also-near-an-all-time-high-500x302.png\" alt=\"\" width=\"500\" height=\"302\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-just-construction-workers-the-average-duration-of-all-unemployment-is-also-near-an-all-time-high-500x302.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-just-construction-workers-the-average-duration-of-all-unemployment-is-also-near-an-all-time-high.png 590w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>About 45% of the currently unemployed have been without a job for at least 27 weeks &#8212; six to seven months without a job:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-like-unemployment-is-some-quick-painful-jolt-a-record-percentage-of-unemployed-people-have-been-unemployed-for-longer-than-6-months.png\" data-rel=\"lightbox-image-1\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-40459\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-like-unemployment-is-some-quick-painful-jolt-a-record-percentage-of-unemployed-people-have-been-unemployed-for-longer-than-6-months-500x302.png\" alt=\"\" width=\"500\" height=\"302\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-like-unemployment-is-some-quick-painful-jolt-a-record-percentage-of-unemployed-people-have-been-unemployed-for-longer-than-6-months-500x302.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/and-its-not-like-unemployment-is-some-quick-painful-jolt-a-record-percentage-of-unemployed-people-have-been-unemployed-for-longer-than-6-months.png 590w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>CEO pay is now roughly 350 times higher than the average worker&#8217;s:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-is-now-350x-the-average-workers-up-from-50x-from-1960-1985.png\" data-rel=\"lightbox-image-2\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-40460\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-is-now-350x-the-average-workers-up-from-50x-from-1960-1985.png\" alt=\"\" width=\"500\" height=\"406\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-is-now-350x-the-average-workers-up-from-50x-from-1960-1985.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-is-now-350x-the-average-workers-up-from-50x-from-1960-1985-110x90.png 110w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>And CEO pay has grown dramatically since the early &#8217;90s, though production workers&#8217; pay has barely budged and the minimum wage has actually dropped if you adjust for inflation:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-has-skyrocketed-300-since-1990-corporate-profits-have-doubled-average-production-worker-pay-has-increased-4-the-minimum-wage-has-dropped-all-numbers-adjusted-for-inflation.png\" data-rel=\"lightbox-image-3\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-40461\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-has-skyrocketed-300-since-1990-corporate-profits-have-doubled-average-production-worker-pay-has-increased-4-the-minimum-wage-has-dropped-all-numbers-adjusted-for-inflation-500x438.png\" alt=\"\" width=\"500\" height=\"438\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-has-skyrocketed-300-since-1990-corporate-profits-have-doubled-average-production-worker-pay-has-increased-4-the-minimum-wage-has-dropped-all-numbers-adjusted-for-inflation-500x438.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/ceo-pay-has-skyrocketed-300-since-1990-corporate-profits-have-doubled-average-production-worker-pay-has-increased-4-the-minimum-wage-has-dropped-all-numbers-adjusted-for-inflation.png 517w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>We often hear that the extremely wealthy pay a very disproportionate amount of U.S. taxes. It is true that they pay a large share. But it&#8217;s not so imbalanced compared to how much of all income they earn. For instance, the richest 20% of earners receive 59.1% of all U.S. income but pay 64.3% of taxes:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/as-the-nations-richest-people-often-point-out-they-do-pay-the-lions-share-of-taxes-in-the-country-the-richest-20-pay-64-of-the-total-taxes-lower-bar-of-course-thats-because-they-also-make-most-of-the-money-top-bar.png\" data-rel=\"lightbox-image-4\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-40462\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/as-the-nations-richest-people-often-point-out-they-do-pay-the-lions-share-of-taxes-in-the-country-the-richest-20-pay-64-of-the-total-taxes-lower-bar-of-course-thats-because-they-also-make-most-of-the-money-top-bar-500x291.png\" alt=\"\" width=\"500\" height=\"291\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/as-the-nations-richest-people-often-point-out-they-do-pay-the-lions-share-of-taxes-in-the-country-the-richest-20-pay-64-of-the-total-taxes-lower-bar-of-course-thats-because-they-also-make-most-of-the-money-top-bar-500x291.png 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/as-the-nations-richest-people-often-point-out-they-do-pay-the-lions-share-of-taxes-in-the-country-the-richest-20-pay-64-of-the-total-taxes-lower-bar-of-course-thats-because-they-also-make-most-of-the-money-top-bar.png 518w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>There&#8217;s much, much more in the full slideshow; go check it out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shamus Khan posted a link to a great slideshow put together by the Business Insider that summarizes the current state of our economy. It&#8217;s a one-stop illustration of, in their words, &#8220;What the Wall Street protestors are so angry about,&#8221; and definitely worthy of clicking over to see the whole thing. I&#8217;m posting just a [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[29,36,12498],"class_list":["post-40457","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-class","tag-economics","tag-economics-great-recession"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=40457"}],"version-history":[{"count":4,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40457\/revisions"}],"predecessor-version":[{"id":45100,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/40457\/revisions\/45100"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=40457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=40457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=40457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}