Some stats I've collected to put to rest the pointless arguments of those who still have and the elite (who are still going after the "still haves") who claim if only you just apply yourself you can have the new car, the new house, that fantastic good paying job with benefits. blah blah blah
*Between the years 1997-2007, real wages increased only 75 cents an hour. This, according to the Bureau of Labor Statistics.
*During this 10 year period, cost of living increased 26%. Of this 26%:
Housing increased 29%
Day care/child care increased 52%
Gas increased 134%
Medical insurance increased 43%
(And need I mention that food costs have jumped approximately 25% in the past two years alone.)
*Real value of the minimum wage peaked in 1968, when it was worth $7.73 in today's dollar.
*In 1972 you could buy a 3 bedroom, 2 bath split level home in a nice subarb in Lake Oswego Oregon for $17,000. That same home today sells for well over $300,000.
*Along the lines of the previous, in 1966 the median home price for the country was $21,000. As of 2008 it was $232,000.
*Along the lines of the above housing costs, in 1966 the average income was $7600, more than adaquate to afford a $21,000 home. As of 2008, the average income was $58,000, grossly falling short of affording that $232,000 home.
*There has been a downward trend in real wages since 1974, with only a temporary increase in the late 90's, during Clinton's second administration.
Where's all that wealth going? Well of course most readers of my blog, being the intelligent folks you are, know. But for those who haven't quite figured that one out, here's a little stat to help point you in the right direction:
*In 1978, the average CEO's pay was 78 times that of the typical minimum wage worker. By 2005, that same CEO's pay was 851 times that of the same worker.