Friday, June 03, 2011

I Demand More Tax Breaks For The Wealthy So They Can Continue To Create Jobs & Pay People What They Are Worth

To the Koch Brothers & others of their ilk, the working person isn't worth much.
The increase in total private-sector wages, adjusted for inflation, from the start of 2001 has fallen far short of any 10-year period since World War II, according to Commerce Department data. In fact, if the data are to be believed, economy wide wage gains have even lagged those in the decade of the Great Depression (adjusted for deflation).
Over the past decade, real private-sector wage growth has scraped bottom at 4%, just below the 5% increase from 1929 to 1939, government data show.
To put that in perspective, since the Great Depression, 10-year gains in real private wages had always exceeded 25% with one exception: the period ended in 1982-83(Reagan's "recession, the beginning of it all, ed.), when the jobless rate spiked above 10% and wage gains briefly decelerated to 16%.
My emphases.

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