The rich get richer whilst the poor are getting poorer October 25, 2006
Posted by Al in : interesting,politics , trackbackThere has always been a gulf between the “have”s and the “have not”s of this world, just look at any history book to see how big this gulf has been in the past. But in the modern world we like to believe in equality and an even playing field for everyone, even if the real world does not work this way. Now I am fully aware that there are big differences in my quality of life compared to some people in the UK, difference which work both in my favour and in the favour of others. And if you compare my life with other people in far less fortunate nations around the world I live like a king. However I never realised quite how big the differences can really be until I read this article, and of course America tops the rest of the world in these differences. How about the fact that a worker in America who earns the minimum wage, and works 40 hours a week for 51 weeks a year, would need to work for 7,000 years to match Larry Ellison’s annual CEO compensation! To me that’s a big difference, and there are a lot more here.
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As a follow up to this piece here’s an article outlining how the people who may make a stand against the ultra-rich will be the people who are closest to them, and not the common folk who are such a long way away.
http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/30/8391806/index.htm