Taking a page from NYT's Stephen Greenhouse's new book, The Big Squeeze: Tough Times for the American Worker,
- Since 1979, hourly earnings for 80% of Americans rose only 1% after inflation
- Hourly wages for male workers has actually declined 5% since 1979 after inflation
- In 2005, the top 1% of Americans earned 21.2% of ALL income (a new high)
- The bottom 50% (read: HALF OF AMERICA) earned a paltry 12.8% of all income, down from 2000
- The typical American works 1,804 hours/year (vs. 1,669 hours for Brits, 1,564 hours for the French, and 1,434 hours for the Germans - 9 full time weeks less than Americans)
So, Americans work more than anyone else in the industrialized world with stagnant wages, healthcare costs that rose 78% in 5 years, a mortgage crisis, credit crisis, a food crisis - all while 1% of the population earns almost double what half the country combined earns.
WHY AREN'T WE BITTER?