What If Your Income Grew as Fast as the Top 1 Percent?
The editors at Mother Jones reveal how much money you would be earning annually today if the super-rich hadn’t rigged the system.
Use their calculator here.
The richest 1 percent of Americans have seen their average income jump more than 270 percent over the past five decades. Meanwhile, the average income of the least wealthy 90 percent of Americans grew an anemic 22 percent during that time. (Those figures are based on inflation-adjusted real dollars.)
… In other words, if you’re in the bottom 90 percent of earners, your current income would be an estimated 205 percent higher if the vast majority of incomes had kept up with the gains experienced by the superwealthy.
At the lowest end of the bottom 90 percent, the difference is even more extreme: If the minimum wage had kept up with the 1 percent, it would be nearly 250 percent higher than it is today.
Read more here.
— Posted by Alexander Reed Kelly.