So I just turned 34 and that got me thinking about what the country and the #economy was like when my dad turned 34 (1976)

Inflation, cost of goods and services, house/car prices, wealth for the rich, stock prices and CEO pay have far outpaced pay for workers

(Thread) /1
Inflation has risen over 350% in 45 years which means $100 today would be worth the same as $21.75 in 1976
/2
Minimum wage an hour
$2.30-$7.25 (215% increase) /3

infoplease.com/business/labor…
Median wage a year (1976-2009 date of last min wage raise)
$12,690-$51,916 (309% increase) /4
Price of average car
$5,450-$40,000 (692% increase) /5

usatoday.com/story/money/ca…
Price of average home
$33,600-$278,600 (729% increase) /6

dqydj.com/historical-hom…
CEO compensation
$1.6 mil - $17.2 million (940% increase) /7

epi.org/publication/ce…
Richest person in the worlds worth
$6 billion-$187 billion (3,016% increase) /8

celebritynetworth.com/articles/billi…
Worth of S&P 500
$100.18-$3,906.71 (3,799% increase) /9
Tax rate for low wage income
14%-10% (28% decrease)

Tax rate on median wage income
29%-22% (24% decrease)

Tax rate on wealthiest
70%-37% (47% decrease)

Price for lowest tax bracket
$500-$9,875 (1875% increase)

Price for highest tax bracket
$100k-$518k (418% increase)/10
Corporate tax rate
48%-21% (56% decrease) /11
$2.20 trillion in bailouts to corporations from 1970-2008
(Worth $2.66 trillion today) /12

propublica.org/article/govern…
$6.4 trillion spent on wars since 2001 /13

cnbc.com/2019/11/20/us-…
$2.3 trillion tax cut for the rich and corporations 4 years ago
/14


politico.com/story/2018/02/…
The national debt is up 26 trillion since 1976 and 21 trillion since 2000. 11 trillion of which are from corporate bailouts, forever wars, and trumps tax cuts for the rich and corporations.... This doesn’t take into account Bush and Reagan’s tax cuts /15

thebalance.com/national-debt-…
The national debt has grown 4,170% in 45 years

We are doubling our debt roughly every 5-10 years and the causes are tax cuts for the rich/corporate bailouts, wars in other countries, and a dwindling middle class due to stagnant wages and highly inflated cost of living

16/16
A stronger and more technologically savvy IRS would lead to $1.4 trillion more in tax revenues (all from wealthiest individuals) over 10 years

fortune.com/2021/01/30/inc…
And the cost of college has risen 3,000% since 1969

finance.yahoo.com/news/average-c…

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More from @GunStelly

19 Feb
Some graphs on #UnionMembership in the US over the years.

Today union membership stands at 13% the lowest it’s been since world war 2

The rise of unions coincided with the rise of the US as a super power

The fall of unions coincided with the wealthiest 1% coming into power
The two apex’s of this graph at 1945 and 1995

The first being the US getting out of the depression and becoming a super power

The second being the US becoming a purely financial and consumer based economy
The inflection points of the graphs are

The supreme courts ruling on campaign finance in 1976 that essentially said money is speech and therefor there shouldn’t be any limits on campaign spending essentially giving rich people license to buy politicians

and......
Read 4 tweets
18 Feb
On the left is Nominal GDP per capita

On the right is the countries w/ highest percentage of their workforce unionized

All 18 of the most unionized countries are in the top 27 of GDP per capita & no other nation in the top 27 by GDP has more than 10 million citizens
#Unionize
The #US has the largest economy based off having the 3rd largest population but it ranks 17th in percentage of labor force in #TradeUnions

Imagine the power of our economy if over half our work force was unionized?
Sweden with around 11 million citizens is the 91st largest country by population but 83% of its workforce is unionized so not only does it have the 22nd largest economy in the world by size it ranks 12th on GDP per Capita

Sweden also has the 11th highest average wage
Read 33 tweets

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