Class Struggle: American workers have a chance to be heard
November 16, 2006 (JIM WEBB - WSJ)
The most important--and unfortunately the least debated--issue in politics today is our society's steady drift toward a class-based system, the likes of which we have not seen since the 19th century. America's top tier has grown infinitely richer and more removed over the past 25 years. It is not unfair to say that they are literally living in a different country. Few among them send their children to public schools; fewer still send their loved ones to fight our wars. They own most of our stocks, making the stock market an unreliable indicator of the economic health of working people. The top 1% now takes in an astounding 16% of national income, up from 8% in 1980. The tax codes protect them, just as they protect corporate America, through a vast system of loopholes.
Incestuous corporate boards regularly approve compensation packages for chief executives and others that are out of logic's range. As this newspaper has reported, the average CEO of a sizeable corporation makes more than $10 million a year, while the minimum wage for workers amounts to about $10,000 a year, and has not been raised in nearly a decade. When I graduated from college in the 1960s, the average CEO made 20 times what the average worker made. Today, that CEO makes 400 times as much.
In the age of globalization and outsourcing, and with a vast underground labor pool from illegal immigration, the average American worker is seeing a different life and a troubling future. Trickle-down economics didn't happen. Despite the vaunted all-time highs of the stock market, wages and salaries are at all-time lows as a percentage of the national wealth. At the same time, medical costs have risen 73% in the last six years alone. Half of that increase comes from wage-earners' pockets rather than from insurance, and 47 million Americans have no medical insurance at all.
AntiSpin: Mr. Webb is the newly elected Democratic senator-elect from Virginia. This is what the congressional overturn was about and what the 2008 presidential election will be about, and I'm glad to hear the subject opened for debate so clearly. But as a Libertarian Democrat, I'm concerned that the cure for "Class Warfare" offered up by the current Democratic party may be worse than the disease. (Thanks for the find, Aaron).
Webb is a breath of fresh air. Hearing a member of Congress utter the words, "America's top tier has grown infinitely richer and more removed over the past 25 years… Few among them send their children to public schools; fewer still send their loved ones to fight our wars." That's the truth, and the current administration seems to have an alergy to it.
November 16, 2006 (JIM WEBB - WSJ)
The most important--and unfortunately the least debated--issue in politics today is our society's steady drift toward a class-based system, the likes of which we have not seen since the 19th century. America's top tier has grown infinitely richer and more removed over the past 25 years. It is not unfair to say that they are literally living in a different country. Few among them send their children to public schools; fewer still send their loved ones to fight our wars. They own most of our stocks, making the stock market an unreliable indicator of the economic health of working people. The top 1% now takes in an astounding 16% of national income, up from 8% in 1980. The tax codes protect them, just as they protect corporate America, through a vast system of loopholes.
Incestuous corporate boards regularly approve compensation packages for chief executives and others that are out of logic's range. As this newspaper has reported, the average CEO of a sizeable corporation makes more than $10 million a year, while the minimum wage for workers amounts to about $10,000 a year, and has not been raised in nearly a decade. When I graduated from college in the 1960s, the average CEO made 20 times what the average worker made. Today, that CEO makes 400 times as much.
In the age of globalization and outsourcing, and with a vast underground labor pool from illegal immigration, the average American worker is seeing a different life and a troubling future. Trickle-down economics didn't happen. Despite the vaunted all-time highs of the stock market, wages and salaries are at all-time lows as a percentage of the national wealth. At the same time, medical costs have risen 73% in the last six years alone. Half of that increase comes from wage-earners' pockets rather than from insurance, and 47 million Americans have no medical insurance at all.
AntiSpin: Mr. Webb is the newly elected Democratic senator-elect from Virginia. This is what the congressional overturn was about and what the 2008 presidential election will be about, and I'm glad to hear the subject opened for debate so clearly. But as a Libertarian Democrat, I'm concerned that the cure for "Class Warfare" offered up by the current Democratic party may be worse than the disease. (Thanks for the find, Aaron).
Webb is a breath of fresh air. Hearing a member of Congress utter the words, "America's top tier has grown infinitely richer and more removed over the past 25 years… Few among them send their children to public schools; fewer still send their loved ones to fight our wars." That's the truth, and the current administration seems to have an alergy to it.
"Since income data on individual soldiers is not available, Medill News Service analyzed U.S. census data on household income for fallen troops’ hometowns. Figures are as of Jan. 28, 2006… more than two-thirds of the soldiers who have died during Operation Iraqi Freedom come from areas of the country poorer than national averages." Poor areas bear burden of casualties in Iraq
These data are misleading. The question is not the median income of the troops versus U.S. society, it's the proportion of troops that come from each wealth quintile. A Freedom of Information Act demand may turn that up. If the data are available, the chart might look something like this:
Comment