Working on this new server in php7...
imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

22 Statistics

by www.businessinsider.org Wednesday, Jul. 28, 2010 at 12:33 PM
mbatko@yahoo.com

We urgently need alternatives to a future of stagnation and deficits. The community centers in Vancouver B.C. have a multiplier effect as surrogate counseling and class possibilities. Social justice, solidarity and sharing open doors.

22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America 7/15/2010

http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-top-10-of-americans-now-earn-around-50-of-our-national-income-22#ixzz0upBbEokE

1/23 83 percent of all U.S. stocks are in the hands of 1 percent of the people.


Source: ACS, Lending Report via Financemymoney.com



Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#83-percent-of-all-us-stocks-are-in-the-hands-of-1-percent-of-the-people-1#ixzz0up7YR18W

2/23 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007.



Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#61-percent-of-americans-always-or-usually-live-paycheck-to-paycheck-which-was-up-from-49-percent-in-2008-and-43-percent-in-2007-2#ixzz0up7nrslg

3/23 The Rich are Wrecking the Planet 66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.



Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#66-of-the-income-growth-between-2001-and-2007-went-to-the-top-1-of-all-americans-3#ixzz0up84VlTh

4/23 36 percent of Americans say that they don't contribute anything to retirement savings.



Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#36-percent-of-americans-say-that-they-dont-contribute-anything-to-retirement-savings-4#ixzz0up8GmeIS

5/23 A staggering 43 percent of Americans have less than $10,000 saved up for retirement.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#a-staggering-43-percent-of-americans-have-less-than-10000-saved-up-for-retirement-5#ixzz0up8U51ol

6/23 Over 1.4 million Americans filed for personal bankruptcy in 2009, which represented a 32 percent increase over 2008.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#over-14-million-americans-filed-for-personal-bankruptcy-in-2009-which-represented-a-32-percent-increase-over-2008-7#ixzz0up92GMbd
7/23 Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#only-the-top-5-percent-of-us-households-have-earned-enough-additional-income-to-match-the-rise-in-housing-costs-since-1975-8#ixzz0up9Csdwp
8/23 For the first time in U.S. history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#for-the-first-time-in-us-history-banks-own-a-greater-share-of-residential-housing-net-worth-in-the-united-states-than-all-individual-americans-put-together-9#ixzz0up9NsNqM
9/23 In 1950, the ratio of the average executive's paycheck to the average worker's paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#in-1950-the-ratio-of-the-average-executives-paycheck-to-the-average-workers-paycheck-was-about-30-to-1-since-the-year-2000-that-ratio-has-exploded-to-between-300-to-500-to-one-10#ixzz0up9cKUeK
10/23 Stocks, Bonds, Mutual Funds As of 2007, the bottom 80 percent of American households held about 7% of the liquid financial assets.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#as-of-2007-the-bottom-80-percent-of-american-households-held-about-7-of-the-liquid-financial-assets-11#ixzz0up9mS7ZA
11/23 The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-bottom-50-percent-of-income-earners-in-the-united-states-now-collectively-own-less-than-1-percent-of-the-nations-wealth-12#ixzz0up9ylxRl
12/23 Average Wall Street bonuses for 2009 were up 17 percent when compared with 2008.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#average-wall-street-bonuses-for-2009-were-up-17-percent-when-compared-with-2008-13#ixzz0upA7FKwN
13/23 In the United States, the average federal worker now earns 60% MORE than the average worker in the private sector.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#in-the-united-states-the-average-federal-worker-now-earns-60-more-than-the-average-worker-in-the-private-sector-14#ixzz0upAIL2ID
14/23 The top 1% of U.S. households own nearly twice as much of America's corporate wealth as they did just 15 years ago.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-top-1-of-us-households-own-nearly-twice-as-much-of-americas-corporate-wealth-as-they-did-just-15-years-ago-15#ixzz0upASJRm9
15/23 In America today, the average time needed to find a job has risen to a record 35.2 weeks.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#in-america-today-the-average-time-needed-to-find-a-job-has-risen-to-a-record-352-weeks-16#ixzz0upAbzABH
16/23 More than 40% of Americans who actually are employed are now working in service jobs, which are often very low paying.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#more-than-40-of-americans-who-actually-are-employed-are-now-working-in-service-jobs-which-are-often-very-low-paying-17#ixzz0upAl9eV0
17/23 For the first time in U.S. history, more than 40 million Americans are on food stamps, and the U.S. Department of Agriculture projects that number will go up to 43 million Americans in 2011.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#for-the-first-time-in-us-history-more-than-40-million-americans-are-on-food-stamps-and-the-us-department-of-agriculture-projects-that-number-will-go-up-to-43-million-americans-in-2011-18#ixzz0upAxovA1
18/23 This is what American workers now must compete against: in China a garment worker makes approximately 86 cents an hour and in Cambodia a garment worker makes approximately 22 cents an hour.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#this-is-what-american-workers-now-must-compete-against-in-china-a-garment-worker-makes-approximately-86-cents-an-hour-and-in-cambodia-a-garment-worker-makes-approximately-22-cents-an-hour-19#ixzz0upB8rUvU
19/23 Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#despite-the-financial-crisis-the-number-of-millionaires-in-the-united-states-rose-a-whopping-16-percent-to-78-million-in-2009-20#ixzz0upBIqX6g
20/23 Approximately 21 percent of all children in the United States are living below the poverty line in 2010 - the highest rate in 20 years.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#approximately-21-percent-of-all-children-in-the-united-states-are-living-below-the-poverty-line-in-2010-the-highest-rate-in-20-years-21#ixzz0upBSD05q
21/23 The top 10% of Americans now earn around 50% of our national income.

Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-top-10-of-americans-now-earn-around-50-of-our-national-income-22#ixzz0upBbEokE
22/23 The 18 States Facing The Most Brutal Austerity Cuts Shortfall as percentage of FY 2010 or FY 2011 budget – $1-6 billion
Utah -- 16% Cuts

Pennsylvania -- 16% Cuts

Iowa -- 19% Cuts
Colorado -- 21% Cuts
Florida -- 22% Cuts
South Carolina -- 23% Cuts
Georgia 24% Cuts
Wisconsin -- 25% Cuts
Minnesota -- 26% Cuts
Oregon -- 29% Cuts*
Connecticut -- 29% Cuts
North Carolina 31% Cuts
Vermont -- 31% Cuts
Maine -- 32% Cuts
Arizona -- 35% Cuts
THIRD WORST: Illinois -- 36% Cuts ($13 billion shortfall 2011)

SECOND WORST: New Jersey -- 37% Cuts ($10.7 billion shortfall 2011)
THE WORST: Nevada -- 57% Cuts
The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.

See proof of the Middle Class extermination -->

So why are we witnessing such fundamental changes? Well, the globalism and "free trade" that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn't tell us that the "global economy" would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.
The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker ten times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new "global" labor pool.
What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are "less attractive" than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.
So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.
What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about 6 unemployed Americans for every new job opening in the United States, and the number of "chronically unemployed" is absolutely soaring. There simply are not nearly enough jobs for everyone.
Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.
But you can't raise a family on what you make flipping burgers at McDonald's or on what you bring in from greeting customers down at the local Wal-Mart.
The truth is that the middle class in America is dying -- and once it is gone it will be incredibly difficult to rebuild.



Read more: http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#the-top-10-of-americans-now-earn-around-50-of-our-national-income-22#ixzz0upGDJpoe

Read more: http://www.businessinsider.com/18-states-facing-the-most-painful-austerity-cuts-for-next-year-2010-6#utah-16-cuts-1#ixzz0upBuQV4U

Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy