Good news for the wealthy classes who might have worried that the recession would throw the country into the arms of French-style socialism…
New wage statistics just in for 2010 show that what’s called the mean income, which accounts for the actual number of people making a certain wage, has half of Americans making less than $26,000 last year.
And the percentage of Americans earning less than $200,000 a year remains at…guess where? 99 percent.
So good news for the anti-Wall Street crowd — they can keep the chant…
But it’s even BETTER news for the people we now call the Job Creators. Job Creators have worried that if the 99 percent were to start joining unions it might boost their wages, making it harder for the Job Creators to create all the jobs they want to create. Well, rest easy, the new numbers show that in 2010, the bottom 99 percent saw their wages DROP by a total of $4.5 billion.
While at the same time, the Job Creators in the 1 percent, presumably through the creation of jobs, saw THEIR total earnings rise by $120 billion. In fact, those in the upper fraction of the 1 percent, the uber-Job Creators earning at least $1 million a year, saw their payroll income rise of 22 percent.
The economy also created MORE job creators — the number of people in the top 1 percent rose by about 300,000.
So like Herman Cain said, you folks in the lower 99 percent need to quit complaining and get a job. My advice would be to get a job as a Job Creator. It pays really well. CBS Radio commentator DAVE ROSS.