Wow. Just read this post

at the Hudson Valley Chronic.

Some of the interesting numbers…
“: in 1988, 63 percent of workers in large private sector firms participated in defined benefit pension plans; last year it was 30 percent; pensions are disappearing. (BLS, National Compensation Survey: Employee Benefits in the US for firms with more than 100 employees – retirement benefits)”

“Fewer firms are offering retiree health care benefits. Among firms that had 200 or more employees in 1988, 66 percent offered retirement health care; last year it was 28 percent.”

“Since around 1972 the gap between productivity and wages has exponentially increased. When we look at the ratio of the top 100 CEO salaries to the average worker’s salary in 1970 it was 45 to 1, then it more than quadruples to 321 to 1 in 1990, and now the top 100 CEOs in America are making $1,723 for every dollar you and I make. This is due to wage stagnation and decline for average workers. (Non-U.S. values from Michael Hennigan, “Executive Pay and inequality in the Winner-take-all society,” Finfacts Ireland, August 7, 2005, U.S. value from author calculation based on Hennigan and BLS at”

This is horrific, and I know this info has been circulating for a long time. But when are we going to DO something about this?!?!?!?

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14 Responses to Interesting…

  1. Right now in California, the majority of residents believe that state employees should have their pensions capped, or they should be required to contribute more to the fund. They also think taxes on the upper 5 percent income bracket in the state should be increased, but the GOP and even the Democratic governor says “No new taxes.”

    My concern is, what will we do with all these old people whose retirement accounts were hit during the recession or who were forced to dip into savings when they were laid off? My parents were able to retire because of my mother’s state employee’s pension and benefits (and she’s still paying $750 a month for medical coverage—contrary to belief, she doesn’t get health insurance for free). My father, who worked in the private sector all his life, barely gets enough from his pension to buy groceries. If he was alone now, he’d be starving. And I hardly have anything left in savings after sending three kids to college and not working now for two years. I can’t even speculate what will happen to me in 20 years.

  2. snoringKatZ says:

    Considering anyone who is supposed to do something about it is trying to get that $1723 an hour, I suspect there will be no change ever. It’s just not real enough, I guess. The rest of us are working just to stay above water. No energy left to fight the man. Which I suppose has been the plan all along.

  3. LBeeeze says:

    Unfortunately, we as individuals can do nothing but watch the suffering while the rich get richer and pay less taxes. Corporations run/OWN the government via unlimited lobbying and unlimited campaign contributions.


    • geologywoman says:


    • littleoddme says:

      I agree totally with LBeeeze- corporations already rule the world. Just look at the pack of lies they already have people believing, and it’s downhill from there. Any time I think on this topic I get the tune “There’s no way out of here” playing on a depressing loop in my head. It’s not even a case of when we’re going to do something, it is “well, what the hell would be do?” Corporations own most of us too, there are brainwashed millions willing to step into the shoes of anyone who is misplaced by opposing them… so … yeah, nothing we can do, I feel. Except get off the grid whenever and however we can.

  4. geologywoman says:

    I love that that Scottish wanker (the CEO of the bank that the gov’t bailed out over here) had eggs thrown at his house. Yep…same old same old. The rich keep getting richer and the poor poorer. It sucks a big one.
    At work they sent us a letter saying we now have to be open all bank holidays except Christmas. They tried to sugar coat it by saying was it would give us “more flexible time off”…om…can I write back Bullshit in big red letters?
    Our food bill has gone up by 30%. One of the few luxuries I allow myself is to buy and cook good food. That also sucks. Petrol has gone up more too. I think it’s around £1.40 a litre. That is about $7 a gallon. That also sucks. I am all about petrol being costly for environmental reasons (and it is reality) but this is price gouging.
    Our heating bill went up too. One month it was £85 for gas – I kept the thermostat below 29 f – we have not switched to a woodstove and solar heating yet since it took bloody 4 months to get the stupid paperwork done for out house (not our doing – the bank and the estate agents and the lawyers) and was cold by the time we moved in, so no one was ripping my heating out till summer, thanks.
    When are we going to get a break?

  5. geologywoman says:

    Also I had to take one sick day from work and they sent me a letter saying I would not be paid for that day since I was a “new employee” and would not get paid for sick days till 6 months from when I started. Arseholes.

  6. geologywoman says:

    That was suppose dot be kept the thermostat “below 19 f”. 29 LOL

  7. madtante says:

    This isn’t so much “happening” as it has already been done–I never got to see those nicer numbers but in comparing what I used to make/ have at this company compared to what I get, is even worse. I’m simply the lowest class now. It’s freaky to go from lower-middle to barely (I mean hundreds above) poverty. I’m still working, same job. Ick.

    I truly think it will take major protests, physical in the streets protests and I’m not advocating violence but that level of energy before anybody in power is “afraid” enough to make changes.

  8. kimkiminy says:

    Most people are surprised to learn that there is no law anywhere that says companies are required to offer any of the following to their workers:
    Health benefits
    Sick pay
    Vacation pay
    Vacation time
    The only reason companies do offer any of that is to stay competitive and retain their best employees, not because they care about you.

    • Lauri says:

      Well, my company certainly has no interest in attracting or keeping their “best” employees. We have a very quickly aging population in the lab, and each year we get one or two bright energetic enthusiastic med tech students to train. Then, when they are trained and eager to work our company refuses to offer them full time jobs. The full time jobs are non-existent. Our students go on their ways to other great jobs and our lab continues to slow down, age and generally mentally deteriorate. 😛

      • kimkiminy says:

        Gosh, I was expecting you to say that as soon as the younger employees were trained, the older ones get the boot. Could be worse…

        • Lauri says:

          Gah! Yeah, I suppose it would be worse. But, we need some energetic enthusiatic kids in there. And as soon as one of our older crowd retires or goes on disability they do away with the full time job. So we are getting NO new employees.
          Only part timers (like me) who have a working spouse.

  9. Off with their heads. I’ll eat cake.

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