I don’t know what these guys are protesting about:
Police handcuffed nine protesters in Boston and dozens of others in cities across the country who blocked traffic Thursday in their latest attempt to escalate efforts to get fast-food companies to pay employees at least $15 an hour.
For the most affluent 10 percent of US families, average incomes rose by 10 percent from 2010 to 2013. For the rest of the population, average incomes were flat or falling.
The least affluent families had the largest declines. Average incomes dropped by 8 percent for the bottom 20 percent of families, the Fed reported in its triennial Survey of Consumer Finances, one of the most comprehensive sources of data on the financial health of US families.
For the top 10 percent of families, ranked by income, estimated average wealth increased by 2 percent to $3.3 million. For the bottom 20 percent of families, average wealth sharply declined by 21 percent to $65,000.
Over the past 25 years, the rich have seen their wealth skyrocket, from 44.8 percent of the total to 54.4 percent of the total. The middle class and the poor, by contrast, have seen their share of national wealth plummet from 33.2 percent to 24.7 percent.
Filling in: the share for the people from the 90th to 97th percentiles went from a 22% share to 20.9%–even the somewhat rich are losing out to the very rich.
Back to the original article:
The National Restaurant Association said in a statement that the protests are an attempt by unions to ‘‘boost their dwindling membership.”
Wow, what an insight. Notice how they think we will assume this is a bad thing–the shrinking of the unions is one of the big reason the rich are taking an increasing share of the wealth.