Sunday, June 23, 2013

The One Minute Chronicle: How News Fakers Lie About National Income

The state controlled media have presented for decades a picture of rising affluence in America, but as with most of the information they report, it is distorted and mendacious. Although real incomes in the USA have been declining since the Nixon administration,  we present their current state in this One Minute Chronicle.
Newsfakers love to publicize broad averages in order to avoid arousal of suspicion that things may not be as rosy as believed. We thank the Occupy Wall Street movement, which was brutally crushed by US government forces, for raising the issue of income disparity in the United States.
The following table summarizes the state of income distribution for 2010:

USA Population ( 000s)
USA Employed (000s)
Personal Income (000s $)
Top 10% Employed (000s)
Top 10% Income (43% of Personal Income)
Top 10% Per Capita Income
Bottom 90% Employed (000s)
Bottom 90% Income (57% of Personal Income)
Bottom 90% Per Capita Income
100% Per Capita Income (USA Employed)
100% Per Capita (USA Population)

While we are not advocating class envy, we do note that the well published numbers - the last one in our table - do not document the true nature of income dispersion. We also encourage you to set aside the nonsense that you should accept lower wages for the benefit of shareholders and corporate profitability. Labor is in no way, shape, or form inferior to capital for indeed labor precedes capital.
We also realize that incomes are disparate for many reasons, including much part time labor which constitutes 90% or so of the jobs created since the engineered crash of 2008.

Copyright 2013 Tony Bonn. All rights reserved.

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