Aug. 12, 2020
(I'm a member of Retiree Advocate/UFT, a group of retirees with a history of opposing the Unity Caucus in the UFT)
Given the recent events stemming from Covid 19 income inequality has been in the news often. If we look at some metrics this sheds light on how the U.S. is doing compared to other countries. The Gini Coefficient is a measure of statistical dispersion to represent income inequality or wealth inequality. The U.S. ranks 46 highest level of inequality out of 150 countries. Another metric used by the World Bank is the Human Development Index ( HDI ) which ranks countries according to an overall assessment of per capita wealth , educational attainment, and life expectancy. Norway enjoys the highest human development while the U.S. comes in at number 13. Between 1980 and 2019 the share of the nation's total household income going to the richest 1 percent more than doubled while the earnings of the bottom 90 percent barely rose adjusted for inflation. CEO pay increased 940 percent but the typical worker's pay increased 12 percent. In the 1960 's the typical CEO of a large American company earned about 20 times as the typical worker , by 2019 the CEO earned 300 times as much. Let's take a look at the food industry.
Retiree Advocate/UFT is a caucus in the UFT. Our goal is to make the Retired Teachers’ Chapter (RTC) more effective, democratic and responsive by critically evaluating leadership’s policies & programs and proposing alternatives to protect retirees & support working members.
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