More facts from “The Price of Civilization” by Jeffrey Sachs:
“At the start of the 1970s, average to o100 CEO pay was roughly 40 times the average worker’s pay. By the year 2000, it had reach 1,000 times the average worker’s pay!”
“The wealthiest 1 percent of American households today enjoys a higher total net worth than the bottom 90 percent, and the top 1 percent of income earnings receives more pretax income than the bottom 50 percent. The last time America had such massive inequality of wealth and income was on the eve of the Great Depression…”
Meanwhile the income bracket on the wealthy have continuously been lowered to less than 50% of what it was half a century ago.
