SSP 1 Lecture Feb. 26

SSP 1 Lecture Feb. 26 - $lil},flfll} % :9 1fli‘inbar...

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Unformatted text preview: $lil},flfll} % :9 1fli‘inbar Street Luna-"m Bfiflflfl. Mi- D2103 Median Family Income by Race, 1947-2003 19in 1955 1953 1931 my 19:? 1995 Source: U5. Census E!.uree.ur Hiemrieal income Tehlee. Table F—E. All income in 213M213 dullars. E-MMI: info @Fairemnumy.urg I WEB: wwwfai rrrr mammofg Ta; 613-423-1143 Fax: Eng-25¢: gt za'nz 1947 to 1979 — Real Family Income Growth by Quintile & for Top 5% Bottom .. 5m" “rm .. .. .. Ta” 20% 20% 20% 20% 20% 5% Sources: Analysis effiensue Bureau data from Mishel. Lawrence and Bernstein, Jared. The State ufH-brirfngflmerica 1.994- 95. p. 3?. Income ranges in 19?; dollars, from March 2000 Census Current Population Survey, Table F—i. " EI 19 Winter Street TEL: 611413-1143 Emu: infnfifairamnnmrflrg Ens“: Boston. HI. :2103 FflrfiI?-4.13-Olgl Wu: mfiirecunumymrg 1979 to 2003 —- Real Family Income Growth by Quintile 8: for Top 5% 10% 511% SW 211% 0% I I u to $24,111 - “2,057 - $55M"! - $982110 - $1?l},l132 - 32%“? $42.35? 355.0% $93,2fl'fl and up and up “Hum 31% Sewnd 20% Hitklle 2%? Fourth 2%: Trip 20% Top 5% Sauce: LLB. Census Bureau. Current Pnpulation Survey. Tablas B1 and F3. incnma ranges in 2003 dollars. g" 29 Winter Street TEi; Sty-4334143 E-uAIL- infiflfiimnumnurg EH5“; Boston, MA 13qu Fur: 513125-019: Wmmfalrmnnmrnr; OWnership of Household Wealth in the United States In the last 25 years, the rep 1% increased their share to 1/3 of the entire wealth pie. Top 1% Bottom 99% Bottom 99% Sources: ForlBTE: Edward H. We1ff. Unpubliahed data. Fur m1: Arthur B. Henoieket. A Herring Tr'de; Changes in the Distribution of Wearrh in the LLS. 1989-2001. Jerome Lew Economies Inerjmte. November 2003. %, zgwimersoreet ' TEL: 617-423-1145 Ewu-MI: inhfifaireconomwrg “““““ “u Boston. MA anus. Fax: 61?-4‘13-D151 WEB: wwwfiiromnomporg : ECHHHMY ' Median Hourly Wage for Women & Men, 1979-2004 A Gender Income Gap Persist; ... $15-97 $15.26 .-.-- -r.-. .--.-- JJ.I.'I - III-IF?” . .-.... . .- ..-..'z=-“ ' -‘_:-r._:_. .- :-:'-'.-'-" _._.:.- - . .-.!-: :-. .- -'.'.1:i:- -.-:‘.‘-'!':-" " 'I -'- -!-'-'1 -'-:-:-'i"PHI-HE:EjitI-EEI' . " Hum“. 1919 1984 1939 1994 1999 2994 wage in Source: Emnu mic. F"u|i:::g..r institute analysis of Current Pu puiatiun Survey data using the Cu nsumer dullars Price lndex {CPHI-RSI to adjust for inflation. TEL: EI}423-2148 E-lulu infinflfairemnnmymrg Fur. 513423-5191 Wm m.fiirecunumr.urg $11.00 - El 25 Winter Sheet [flaw Hanan. MA unmet CEO Pay as a Multiple of Average Worker Pay, 1960-2004 For large US. 4551 f corporations surveyed by ' i " Business Week magazine ' . 5o : ' I i . “E 29:92:91 349: - - Nntflziflfifl-lfiflfl based - on B'W' calculations: 1990—2004 based on LIFE ealoutafions I 2691 i I 180: - 191: _ 41: 421 Q 1999 1979 1939 1999 1 1995 199:.' 1999 1999 on I I. 2994 TEL: Ely-4.13am! E-wm; infnfilfililrecnnumymg Fm 611113-01 5-: Wu: mew-awn“; 431: 19 Winn: Sheet In..me Bus-bun. MA 03103 The Economy since 1980 Who Really Benefited? Big investors and CEOs did very well . . . . . . and workers produced more per hour. 1211.92 $11.8milliun 133 But worker pay hardly ehanged at 311. $15.68 $15.57 $1.4 million- Stock Average Average Market CEO Pay Productivity Hourly Wage Isa? soot [in zoos dollars] [in zoos dollars] Sources: For lhe Steel: Hal-lief: Standard 3: Poor's Corporation. 83:53 5130 Index at and of year. For CEB Fay: Business Week. May 1. 1939 and April 13. 20135. Adjusted for inflation by UFE. Fur Worker Fruductltri'm Bureau of Labor Statistics. Business Output per Hour index {1992:1013} Series ID: PRES-40136093. For [lowlyI Wage: Bureau of Labor Statistics. Average Earnings oi Production Workers. Series Io:oEuosooooooos. Adjusted for inflation by L'FE. 29 winter Street TEL: 51?-413-1'|4B E-mlt: int—cflfa'lremnomjturg L m Huston. MA 132ml! Fu:61;h413-mg1 WEB: wwwfaireoonemjtorg r sooner“ The Wage Gap Around the World, 2003-2004 Ratio of CEO pay to manufacturing worker pay for modium-sizcd corporations survcyod by the Towers Pctrin consulting firm. 24x 17 .... , _ I an “ rmany U.K. Italy France {Countries are ranked by size of per capita GDP, largest left to right.) 5m: Towers Fsrnn. 2003-2004 Woriciwids Tutsi Remuneration. The survey oovers only.r industriai aorporatlons with sales of aDWoximatebr EGG million. Manufacmnng workers in the U.$., as classlfisd by thls survey. make about 30% more than the “av-eras won-{er pay” used in Chart 1:) animator Ell-Bet TEL: 61:113-114.! E-HML: infogfiirmnnmpnrg %fiafi Boston, MA oz'ioa Fm Esmrm 51 We: mfaimmnumflrg Big Tax Breaks for the Taxes: Wealthy - No Tax Relief for Working Families Effective federal tax rates (income tax + payroll tax) for the top 10/0 and the middle quintile of fmilies, 1943-2002 -.:.-_..l .. _.;.-_.'_ _' ._ ---,.._: .-,-,-.. .._.;-_-,,_-.._..__.-, ,_-_._-__;_-.__-__.__:=-._ _.I§__.____L,?I_E_.T_,:fi _:-___::d::;: I: this“: H II-ILWM-flimi; 19996 E w . .. -- : - gfllfi ._: __ r ' ...._.-.__ ...... '-'-".="'-'"'.-" .'-.‘-_': 3:. E'-=5:.="'.I-'i '= ";:"-.:5-.-.:. . - 1 12.3% :-.: . .. _-._-. ..- :_".‘:::l"'_":E .. . -_-_ -::.; .33 :5:-r:~.;-_:;.. 1214.2:- .' . .. - :‘.:'.'..".|'-.'_-'.':,'*'-:.T 1943 1955 1950 1965 1970 19?5 1930 1985 1990 1995 2002 5mm: For iii: "Sup m.- 19e3-W; Kevin Phillips, Boiling Point lRandnm He use: 1993: u. 210. citing, Statistical History of the United States. (LLB. Gwen-1 merit Printing [ii-rice: 19 T6] p. 1112: rare—2001: Cengreseia I'lfll Budget Office. "EFFEEIive Federal tax Rates: 19?E-2031.' April 2004. For 2002: CEO, ‘Hismneal Efiemiue Federal Tax Rates: 19?EI:2E|02." March 2005. Far 1h! lllilidla Quilt!!! Family: 1943: Phillips {1993] :3. 1m, mung Stazfsilea-I History or the United States HERE}. 9. 1112. figme is far median family: 1955?E: Phillips {1993] p, 110, citing Marl Len-nan, U5. Department ofthe Treasury Office ufTax Analysis. figures are fermedian fa milli: 19?E-2001: Congressional Budgel Office [op cit]. For 2002'. CEO [up eit]. Hate: Dues nu: ineluue camera-ta, emise Br estate taxes. g, 29 Winter Etree: TEL: 511-423-2143 EMML: infelgafaireconclmymg ' game“; Boston, MA uzmfi Fm Eur-fireman WEB: wwfiirecnnnmgurg Percent of Federal Taxes: Tax Collections from Individuals 8: Corporations 1962 1970 198 1990 2000 2004 - Corporations Individuals Source: Congressional Budget Office. “Revenues by Maijr Source. 1952 to EGDfi.’ 19 Winter Struck TEL: Eng-4134.143 E-MML‘ 'Lnfafllfairemnnrnjmrg : E FRI: 51 11:34:19.1 Wm: www.&.iremnam}zorg ...
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SSP 1 Lecture Feb. 26 - $lil},flfll} % :9 1fli‘inbar...

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