Thursday, June 09, 2005

Social Economics For Dummies


More than half of Americans now belive the war on Iraq has done nothing to make them safer (and nearly 3/4 think the number of casualties is "unacceptable"). Focus has started to shift to Fearless Leader's economic clusterf**ck. The debt is still rising and the job rate is still in the shitter:

Since Great Depression no other president who served at least 52 months has overseen a net loss in private sector jobs through this point...Through May 2005 private sector jobs are down 24,000. - Center For American Progress

But job loss is just the tip of the iceberg. Corporate tax cuts increasingly widen the gap between the classes:

Consider also that the average wage of the American worker has stagnated -- and even declined slightly -- since the end of the recession in 2001. In the meantime the ratio of CEO pay to the wages of an average worker has skyrocketed from 145:1 in 2002 to 240:1 last year. - Tim Dickinson on the RSBlog

And the rich get richer:
Those earning more than $10 million a year now pay a lesser share of their income in these taxes than those making $100,000 to $200,000. - NY Times

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