From 1990 to 2005, adjusted for inflation—the minimum wage is down 9%, production workers’ pay is up only over 15 years 4.3%. But the rich get richer: Corporate profits are up 106.7%. In spite of the stock market crash 2000, the S&P 500 is up 141.4% since 1990. CEO compensation is up 282%.
Call it transfer of wealth. Or call it class warfare.
What’s wrong with the rich getting richer?
In “The United States of Inequality,” a piece Timothy Noah published in Slate in September, Noah wrote: “Income distribution in the United States [has become] more unequal than in Guyana, Nicaragua, and Venezuela, and roughly on par with Uruguay, Argentina, and Ecuador.”
