Wealth and poverty  Education  Income  Wealth  Intersectionality  class, race, gender, geography, age…..

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Presentation transcript:

Wealth and poverty  Education  Income  Wealth  Intersectionality  class, race, gender, geography, age…..

Wage inequality  …..has been increasing, in part, because of the declining real value of the minimum wage.

For minimum wage workers “working poor”  The value of the minimum wage has not kept up with inflation. When adjusted for inflation, the value of the minimum wage is 21% lower than it was in 

Real Value of Minimum Wage (2000 dollars)

Incomes of the Wealthiest  According to Business Week, the average CEO made  42 times the average hourly worker's pay in 1980,  85 times the average worker in 1990 and 411 times the average workers in 2001.

Top 20% earn half the income of the United States

Wealth Says even more  Top 1 percent own 42% of wealth  About $ 6 trillion (90% of Americans combined own $5 trillion) Investment incomes are not taxed at the same rate as incomes…. And many of our nation’s wealthiest earn their keep via investment incomes…….

10 Richest Americans, 2003 Name Net Worth ($ billion) Source 1Bill Gates46Microsoft Corp. 2Warren Buffet36Berkshire Hathaway 3Paul Allen22Microsoft Corp. 4Helen Walton20.5Wal-Mart stores (inheritance) 5John Walton20.5Wal-Mart stores (inheritance)

10 Richest Americans, 2003 Name Net Worth ($ billion) Source 6Alice Walton20.5 Wal-Mart stores (inheritance) 7 S. Robson Walton 20.5Wal-Mart stores 8Jim Walton 20.5 Wal-Mart stores (inheritance) 9 Lawrence Ellison 18Oracle Corp. 10Michael Dell 13Dell Computer Corp.

In other words….. Top 10% own 72 percent of the wealth Control over 80% of Corporations Bottom 90% own 28 percent Control less than 20 percent of Corporations

Wealth Income and Corporate Control Equals Power