The Trillion Dollar Money Pump for the 1 Percent

by Stan Sorscher

Stan Sorscher

Stan Sorscher

I saw the movie Inequality for All, where Robert Reich explains the depth and meaning of inequality in America. He paints a compelling picture.

Reich sets up the movie with a teaser: “Something happened in the mid-’70s.”

Indeed “something did happen in the mid-’70s.” For one thing, since then workers’ wages as a fraction of the total economy have lagged by over a trillion dollars per year. If workers’ wages had kept up with gains in productivity since the mid-70’s, wages would be double what they are now. Most new income goes to the top 1 Percent.

2013-10-16-WagesasshareofGDP.4713.jpgFigure 1. Workers’ wages have fallen as a share of total GDP. Continue reading

The One Percent and US

by Leo Casey

Leo Casey

Over the last few weeks, a small team of New York City building inspectors descended upon UFT headquarters, responding to a mysterious 311 call. Our building has been placed under police surveillance, and at times police have been posted as guards at our doors.

The One Percent appears to be a tad bit irritated by the UFT’s support for the Occupy Wall Street movement. We were one of the unions who took the lead in organizing the October 5th rally and march which brought out thousands of New York’s working people to express their solidarity with Occupy Wall Street. UFT President Mulgrew has been at Zuccotti Park a number of times, speaking to the assembly, and was joined by AFT President Weingarten on one occasion. Our headquarters are a few blocks away from Zuccotti, and we have provided space for meetings of different groups supporting OWS. We have also given over a major section of our street level space to storage for OWS, for donations of materials and supplies sent to them and for the stowing of personal belongings on the morning when Bloomberg threatened to “cleanse” Zuccotti. This was the space that the building inspectors suddenly needed to inspect.

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