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Potpourri Readers Corner

Economic Reality Check

Compliments of Barbara Ehrenreich’s “bright-sided”:

In terms of wealth and income, America became the most polarized of the First World societies and even more deeply divided than it had been in the 1920s. The share of pre-tax income going to the top 1% of American households rose by 7 percentage points from 1979 to 2007, to 16%, while the share of income going to the bottom 80% fell by 7 percentage points.

– CEOs earn an average of $11 million a year.
– Lehman Brothers CEO Richard Fuld made an average $60 million per year between 2000 and 2008.

Between 1965 and 2000, the ratio of CEO to worker pay went from 24:1 to 300:1

Americans are less likely to move upward from their class of origin than are Germans, Canadians, Finns, French, Swedes, Norwegians or Danes.