Posts filed under “Wages & Income”

WP: Special Report on “Breakaway Wealth”

There is a huge Washington Post special report on Breakaway Wealth in the US. More than most other industrialized nations, the US has seen the top 0.1% compensated in vastly disproportionate numbers versus the rest of the populace.

There are at least several reasons to be concerned about this, beyond basic fairness: 1) Nations that have extremes wealth disparities tend towards social unrest. Usually, its banana republics and dictatorships, but it could happen in a corporate-owned quasi democracy as well. 2) CEOs and other company insiders have been engaging in a massive grab of shareholders wealth for decades. Its gotten appreciably worse in the 2000s. 3) Management is now trying to hide their compensation from the business owners — the firm’s shareholders

Making matters even more outrageous, these CEOs are trying to pass legislation that would legally allow them to not to disclose executive compensation at public companies:

“Here’s one financial figure some big U.S. companies would rather keep secret: how much more their chief executive makes than the typical worker. Now a group backed by 81 major companies — including McDonald’s, Lowe’s, General Dynamics, American Airlines, IBM and General Mills — is lobbying against new rules that would force disclosure of that comparison.

The lobbying effort began more than a year ago. It involved some of the biggest names in corporate America and meetings with members of both parties on the House Financial Services Committee and Senate banking committee. The companies and their Republican allies in Congress call comparisons between the chief and everyone else in the company “useless.”

But some Democrats and investors say the information should be issued to highlight the growing income disparity in the United States. They add that opponents of disclosure merely want to hide the outrageous scale of executive pay packages.”

Legalized theft of shareholder assets, approved by a corrupt Congress. What little respect I had left for the GOP is now completely gone. This is not “business friendly” — its utterly corrupt theft of shareholders.

The charts below (click for larger graphics) show exactly how absurd this has become. The rumors you may have heard about class warfare have been greatly exaggerated . . .

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US Compared with other countries

Who makes up the top 0.1%?

Rising executive pay

Growing share of income for the rich


Charts via Washington Post

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Sources:
Special Report: Breakaway Wealth
An ongoing Washington Post series about how the rich are pulling away from the rest of America
http://www.washingtonpost.com/breakawaywealth

Business group: Public companies shouldn’t have to compare CEO and worker pay
Peter Whoriskey
Washington Post, June 24 2011
http://www.washingtonpost.com/business/economy/business-group-public-companies-shouldnt-have-to-compare-ceo-and-worker-pay/2011/06/23/AGGMcFjH_story.html

Category: Bailouts, Current Affairs, Politics, Really, really bad calls, Wages & Income

Breakdown: August 2011 NFP Data

Some asterisks on this job number, but overall, quite weak, and a continuation of the downtrend for the 4th consecutive month. This was the weakest NFP report in almost a year. A Verizon strike is the key asterisk to this report — that shed 45k employed from the overall picture. Lets breakdown the August data….Read More

Category: Data Analysis, Employment, Wages & Income

The Heart of the Matter

Some of the factors that have landed us in the mess we’re in have been building for decades, and there’s ample evidence on which to draw to demonstrate that fact.  In looking at a few of these issues, I’ll draw on some charts I’ve presented both here and elsewhere before.  A couple are replicated from this outstanding study in…Read More

Category: Consumer Spending, Current Affairs, Data Analysis, Economy, Wages & Income

Discuss: BEA revised 2009 & ’10 Personal Income Sharply Lower

American’s spending turned negative in June (-0.2%) for the first time since September 2009. Without government largesse (personal transfer receipts) personal income would have declined. Personal income increased $18.7 billion, or 0.1 percent…Personal current transfer receipts increased 9.5 billion, in contrast to a decrease of $1.4 billion. Government largesse is 51% of income growth. The…Read More

Category: Data Analysis, Wages & Income

What Can You Expect to Earn in the Valley?

Click to Enlarge: Source: What Can You Expect to Earn in the Valley? Focus

Category: Technology, Wages & Income

In Deficit Dilemma, Pain Looms for Middle Class

The national deficit is too great for entitlement programs like Social Security and Medicare to escape unharmed. That means an impact is looming on many Middle Class Americans who may not be expecting it. WSJ’s Neil Hickey reports.


July 12, 2011

Category: Employment, Real Estate, Video, Wages & Income

Income Distribution Across the World’s 7Billion

This interactive Nat Geo chart shows the distribution of income around the globe: > Click into interactive map for more information Source: National Geographic, The World of Seven Billion

Category: Digital Media, Wages & Income

2011 U.S. Metro Wealth Index

Curious about changes in the highest income demographics? Cap Gemini has all of the details. Most of America may be treading water, but the High Net Worth Individuals are kickin’ it old school! > click for ginormous graphics

Category: Digital Media, Wages & Income

Payroll Withholding Tax Wobbles

Lets catch up with what Matt Trivisonno is seeing over at his Withholding-Tax data crunching site, The Daily Jobs Update: Federal withholding-tax collections over the last four workweeks came in only slightly above the corresponding period from 2010. Total collections were $126.25 billion versus $125.59 billion – only $659 million more. > > That’s the…Read More

Category: Markets, Taxes and Policy, Wages & Income

Household Net Worth (Total Wealth, RE)

The Chart Store had a fascinating series of charts this weekend looking at Household Net Worth in a variety of ways:

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Household Net Wealth Relative to GDP

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Household Net Wealth Relative to Peak and Trough

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Housing charts after the jump

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Category: Real Estate, Wages & Income