Rich-poor gap widens in United States

  • Article by: PETER ROBISON , Bloomberg News
  • Updated: October 7, 2012 - 12:09 PM

The recovery isn't reflected in most Americans' paychecks.

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Mippy1Oct. 7, 12 8:11 PM

Since 1978, worker hourly productivity has risen over 150 percent. Real wages have risen 15 percent. Executive compensation has risen over 725 percent. It's not hard to figure out what is happening and unless you're an executive, it's not good.

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yathinksoOct. 7, 12 8:47 PM

Thank you big business who pays execs millions, offshores millions of jobs, and pays the remaining workers stagnant wages. And the GOP wants to keep this going and completely destroy the middle class.

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shakinstreetOct. 7, 12 8:58 PM

$17 an hour, postage stamp sized house and she's not making it? Something doesn't compute. Wish I made $17. Did she borrow against her house to buy a shiny new car, or a big LCD TV in the living room?

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totaltruthOct. 7, 12 9:10 PM

Other gaps are also widening...

Ambitious vs non-ambitious

Hard Working vs non-hard working

Satisfaction working vs satisfaction with entitlements

Relying on hard work to make it vs relying on the government to make it

Living within your means vs living beyond your means

Being happy with the life you have made for yourself vs always being jealous of others who worked hard to become successful

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Mippy1Oct. 7, 12 9:19 PM

Reading comprehension is a very important skill. People who are good at it can make $17 per hour, or more. The article states that her hours are cut back. It also states that most of that figure is tips, not her hourly wage. It is a very common business practice to keep weekly hours low per employee to avoid the magic "full time" label that would make them eligible for benefits.

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comsenOct. 7, 1211:23 PM

So much for the myth that the poor benefit from a Democratic president.

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mdachsOct. 8, 1212:22 AM

Comparing a casino dealer's salary and salary growth and value to that of a company CEO in the labor market is ridiculous! Just how long does it take for someone to learn to be a successful casino dealer versus the time it takes to learn to be a successful CEO? The market pays employees, based on the value of their skills, competencies, and experience. Jobs that require little training, skills, competencies, and experience have low pay. Employees in these low-skill jobs are easy to replace in a short period of time, so the jobs do not pay much. Technical, professional, and managerial jobs require a high level of skill, experience, and competencies, so they pay higher salaries. That is just common sense and the law of supply and demand. If you work in a job where it takes a few weeks to train your replacement by someone who has no experience, how on earth can you expect to have a high salary? Right now there are many companies who have many jobs open (manufacturing, services, etc.), because they cannot find qualified workers - these jobs have very good salaries. I get very weary of hearing about the income gap widening! And, that this is somehow unfair. It would be very unfair to pay unskilled workers more money for jobs that require little, if any, skills and experience, just because other workers with high skill and experience levels experience stronger growth in their salaries. If you don't like your salary, then acquire more skills so you can get a better job! It's truly unfortunate that the casino dealer is having severe financial stress; however, this is a job that requires relatively little training and skills - and the pay is low, in accordance with that.

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comment229Oct. 8, 12 6:38 AM

OK, I understand the article, but I think it misses a couple of larger points. First, you can concentrate on the discrepancy between the highest salary and the lowest struggling salary, but as most middle class people have found out, there are more and more falling to lower levels of income every single day. On the upper end, why concentrate on the number one top guy? The paper owes the public a list of the next 100 top people in that organization and their salaries too. I suspect it would be a shock as well.

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comment229Oct. 8, 12 6:39 AM

It is true also about the hiring of part time workers. Just check the ads in your local papers. I see it every single week; 32 hour a week jobs. Now, whose idea was that?

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comment229Oct. 8, 12 6:46 AM

Finally, where is the outrage when a major American company outsources its manufacturing jobs to China, brings the product back to the USA, and Americans wait in line to buy that product? Who was left out of the picture? The American work force. So, who is this company? Own an iPhone 5 yet? But instead, we will hear all the complaints about unemployment and "blame the government" and "private industry can do it best." Further, this is not just a few isolated companies either. Bought any good shirts lately or any textiles of any kind? We have met the enemy, and they are us.

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