According to the U.S. Bureau of Labor Statistics' Consumer Price Index the inflation rate averaged 2.06% per year during the last three years, 2010-2013.
The U.S. Federal Reserve's report on median income during the same period was released Thursday, September 4, 2014. It reported median income for Americans, adjusted for inflation, rose only for the top 10%.
- Bottom 20% of income earners-income dropped by 4%, from $15,800 to $15,200.
- Middle 20% of income earners-income dropped by 6%, from $51,800 to $48,700
- Middle to Upper Middle 40%-90% of income earners-little or no change
- Top 10% of income earners-income rose 2%, from $217,900 to $223,200
Yesterday, in many large cities in the United States, fast-food workers were arrested for protesting the low wages paid by their industry. These peaceful protesters were arrested primarily for blocking streets near their place of employment. Most fast-food workers fall into the bottom 20% of the earnings' categories listed above.
The U.S. Congress should be ashamed of itself for allowing this disparity to exist and grow.
Non-voting Americans should be ashamed of themselves as well. Our Constitution grants us a very clear path to change our government when it does not protect our interests.
Until we use our power to pursue a minimum living wage for workers and a tax system that is progressive and fair, we should expect this imbalance in income to continue.
