[release](CBS/AP)* WASHINGTON - 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.
Those earning at least $1 million a year (93,725 of Americans) reported payroll income totaling $224 billion - a rise of 22 percent above 2009.
The statistics from the Social Security Administration, citing payroll data based on W-2 forms submitted by employers to the Internal Revenue Service, reflect a growing income gap between the nation's rich and poor, the government reported Thursday.
Despite population growth, the number of Americans with jobs fell again last year, with total employment of just under 150.4 million -- down from 150.9 million in 2009 and 155.4 million in 2008.
In all, there were 5.2 million fewer jobs than in 2007, when the deep recession began, according to the IRS data.
The figures are just one more indication of the toll that the worst downturn since the Great Depression has taken on the U.S. economy.
They were published as demonstrations rage on Wall Street and in cities across the nation protesting a widening income gulf between average wage earners and the nation's wealthiest.
The unemployment rate remains stuck at 9.1 percent, with more than 14 million out of work and 11 million other discouraged people who have stopped looking for work or are stuck in part-time jobs. Since 1980, roughly 5 percent of annual national income has shifted from the middle class to the nation's richest households, according to the Census Bureau.
While the average U.S income last year was $39,959, the mean income -- the figure where half earn more and half earn less -- was much lower, $26,364. This disparity reflects the fact that "the distribution of workers by wage level is highly skewed," according to Social Security.
Median compensation last year was just 66 percent of the average income, compared with nearly 72 percent in 1980.[/release][url]http://www.cbsnews.com/8301-201_162-20123659/income-gap-expanding-in-u.s/[/url]
Yeah the [i]job creating[/i] rich sure need those tax cuts. Ugh what the fuck is going on in my country.
Honestly for something like this, I wish the executive branch could override congress and pass the jobs bill and tax the fuck out of the rich, something has to be done about this bullshit.
You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.
Wow, 50% of people make less than $27k. That's nothing, nobody can buy a house or support a family on that kind of money. Unemployment gets all the headlines, but we have an even worse underemployment problem in this country. For every unemployed person, there are two that are forced to work part-time with no benefits and unreliable paychecks.
And yet the rich still get richer. This whole financial crisis and recession has provided cover for an unprecedented theft of wealth from the poor and middle class.
The rich get richer, and the poor get poorer. Thank you Republicans.
Obama 2012, and vote out ALL Republicans.
ITT Fuck rich people give me their money
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]
Consider yourself and everyone you know lucky then.
[editline]22nd October 2011[/editline]
[QUOTE=Squarebob;32907033]ITT Fuck rich & greedy people, give their money to the less fortunate[/QUOTE]
Fix'd for free
[QUOTE=DesolateGrun;32906845]Honestly for something like this, I wish the executive branch could override congress and pass the jobs bill and tax the fuck out of the rich, something has to be done about this bullshit.[/QUOTE]
Though I'm not 100% on the rules and regulations of it, but I'm fairly sure Obama has the power to issue Executive Orders.
I really think he should use this power in an attempt to override Congress (mainly the reps in congress) and work on pulling us out of this ditch.
I do know that Executive Orders can be overridden by the Supreme Court or a Senate Bill that conflicts with it, but hopefully the courts will agree and Congress will refrain from action, especially since in this case the action would be blatantly detrimental to the welfare of our country.
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]
That's because it is a liberal myth put out by lazy students who want to suck from the teat of the state for the rest of their unwashed lives
This is because of regulations and high taxes on those who have worked hard!
But seriously wow you poor Americans.
[QUOTE=Squarebob;32907033]ITT Fuck rich people give me their money[/QUOTE]
I can see someones mommy and daddy have made sure you've never known a real problem in life.
That must be so nice, I wish I had a bubble like that.
This just confirms what we already know, all of the income growth in this country over the past decade has gone to the top 5% while the rest of us have stayed the same, or made less than we did 10 years ago.
[QUOTE=HawkeyeTy;32907255]I can see someones mommy and daddy have made sure you've never known a real problem in life.
That must be so nice, I wish I had a bubble like that.[/QUOTE]
I bet you do, its great.
[QUOTE=Squarebob;32907033]ITT Fuck rich people give me their money[/QUOTE]
Do you get enjoyment out of being a pariah?
[QUOTE=Squarebob;32907307]I bet you do, its great.[/QUOTE]
I was sarcastic, but ignorance is bliss.
I really don't, I like being an actual person, not a spoiled little shithead like you.
Holy shit, I feel sorry for you America.
[QUOTE=DesolateGrun;32906845]Honestly for something like this, I wish the executive branch could override congress and pass the jobs bill and tax the fuck out of the rich, something has to be done about this bullshit.[/QUOTE]
I've said this over and over again, but I'll say it yet again: Taxing the rich won't do any good either because all that will happen is that money will go straight to our already bloated defense budget.
What NEEDS to be done is:
1) Close loop-holes that we've known about for years and somehow have never gotten around to fixing.
2) Offer tax breaks as incentives for companies to put more money into the work force's pockets (better wages, hiring more people, better benefits).
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]
My dad lost a hefty chunk of his retirement funds, and as a result will have to work another 15 years or so before he can safely retire as a result of the crash.
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]
I wasn't effected either, but that doesn't mean that it's not happening to the less fortunate.
You know what would raise the average? Getting rid of illegal immigrants that work for pennies on the dollar.
[QUOTE=Ridge;32907970]You know what would raise the average? Getting rid of illegal immigrants that work for pennies on the dollar.[/QUOTE]
illegal immigrants don't take american's jobs.
they also put in a lot of money into social services and get almost no benefit and pay most state, local and federal taxes.
so no
[editline]22nd October 2011[/editline]
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]
I do.
Hearing all this stuff makes me more and more grateful for the job I have.
50% of ALL working US earned less than 30k in a year? Holy shit, that's really fucked up. Now I can totally see the reasons for Occupy protests.
[QUOTE=A B.A. Survivor;32906861]You know I always hear about how incomes are dropping and jobs being lost, but no one I know has experienced hardships from it.[/QUOTE]Hi.
[QUOTE=AceOfDivine;32908152]50% of ALL working US earned less than 30k in a year? Holy shit, that's really fucked up. Now I can totally see the reasons for Occupy protests.[/QUOTE]
The part that bothers me is that most of those people are working multiple jobs.
And ignore the edit, I hit edit instead of reply by accident. Great morning already!
God damn it. We already sold one car and are renting out the guest room and barely getting by.
Fuck.
I'm not even an American and this shit pisses me off. Something has to be done but your conservatives are too busy being children. What's more important you retarded Republicans? Abortion, gays, screwing Obama and by extension all of America, or fixing your buggered fucking economy!?
[QUOTE=BANNED USER;32908269]The part that bothers me is that most of those people are working multiple jobs.[/QUOTE]
What really? That's even more fucked up. I mean sure you could get less than 30k on a shitty job, but TWO? Economy is getting worse by the hour. I also love how the rich instead of losing actually profited from this.
[media]http://www.youtube.com/watch?v=IUH3JQjcweM[/media]
Sorry, just [I]had [/I]to post this.
[QUOTE=AceOfDivine;32908356]What really? That's even more fucked up. I mean sure you could get less than 30k on a shitty job, but TWO? Economy is getting worse by the hour. I also love how the rich instead of losing actually profited from this.[/QUOTE]
Lol, what do you think? Value just disappears? It's got to go somewhere.
[QUOTE=Atlascore;32908392]Calling it now, by 2020 at least 10% of America's population will have immigrated to other developed countries in order to find jobs.
Enjoy the population increase Canada.[/QUOTE]
Mexicans see their country is shit, Americans see their country is shit, move to Canada.
Then Mexicans start going back to mexico going "Oh fuck this!"
[QUOTE=chunkymonkey;32908335]What's more important you retarded Republicans? Abortion, gays, screwing Obama and by extension all of America, or fixing your buggered fucking economy!?[/QUOTE]
Do you even need to ask that? I mean if you need to think about that for more than 2 seconds, you don't know the Republicans.
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