60% of Americans are living paycheck to paycheck. This is either a catastrophe waiting to happen, or a catastrophe in the process of happening. Do we care about working families? Do we care about rising inequality? We should. It is time for Family and Consumer Scientists, and indeed all Americans, to stand firmly behind families and consumers. No?
Take a look and American wage growth adjusted for inflation:
Bottom 20%
• 1975 household income: $12,664
• 2001 household income: $14,021
• increase: $1,357
• percentage increase from 1975: 10.7%
Middle 20%(a.k.a. "the middle class")
• 1975 household income: $39,807
• 2001 household income: $51,538
• increase: $11,731
• percentage increase from 1975: 29.4%
Top 20%
• 1975 household income: $91,848
• 2001 household income: $159,644
• increase: $67,796
• percentage increase from 1975: 73.8%
Top 5%(a.k.a. "the wealthy")
• 1975: $134,735
• 2001: $280,312
• increase: $145,577
• percentage increase from 1975: 108%
Data from from DailyFinance:http://srph.it/acaXmS
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