Well-Paid Benefit Most As Economy Flourishes

[Rose Siding]

Economic Gains Widen Pay Gap

Wages are rising more than twice as fast for highly paid workers in the Washington area as they are for low-paid workers, an analysis of federal data by The Washington Post shows.

That means the spoils of the region's economic expansion are going disproportionately to workers who are already well-paid, widening a gap between rich and poor in a place where it is already wider than in most of the country.
...
In the highest wage bracket, where chief executives, lawyers and other professionals earn six figures, average wages rose 8.5 percent from 2003 to 2005. The increase in their incomes is probably even higher, because employees at that level also often get better benefits, partnership income, stock options or other compensation.

Nationwide, the wage gap is widening more slowly: The average wage for upper-middle-income jobs rose 5.8 percent, and low-wage jobs saw pay increases of 3.4 percent, from 2003 to 2005.
...
The elderly population in the Washington area and nationwide is rising, as is the number of jobs caring for the elderly and disabled in their homes. Yet the average wage for such jobs in the region rose 3.9 percent from 2003 to 2005, while the average wage in many advanced medical specialties rose 20 percent or more.

http://www.washingtonpost.com/wp-dyn/content/article/2006/07/09/AR2006070900914_3.html

[Erika]

1. Duh! Respectfully. n/t

[Rose Siding]

2. CEO pay increases up to 75 and 89%

Many Executives' Paychecks Swelled, No Matter How They Did
Compensation Tended to Climb Sharply in Three-Year Period
...
Chief executive Jon E. Bortz could point to a 45 percent increase in LaSalle Hotel Properties' operating profit in 2005 as well as strong shareholder returns for his 89 percent increase in cash pay from 2003, to $1.06 million. On the other hand, K. Paul Singh at Primus Telecommunications Group Inc. had no such numbers to support his 75 percent salary increase over the past three years: His company's shareholders have lost 62 percent of their investment since then, and his company has had more than $100 million in cumulative losses. He makes $700,000. A spokesman for Primus could not be reached for comment.

http://www.washingtonpost.com/wp-dyn/content/article/2006/07/09/AR2006070900385.html

Cap gains tax cuts....stagnant minimum wage....a debate over repealing the ESTATE tax....ARGHHHHHH!!!

[MrPrax]

3. Disconnect...

This story tries so desparately to make it seem as if 'wages' are somehow disconnected from the economy and are purely a matter of supply and demand or acts of God or life's lottery or pfft?.

In fact it is intimately connected decisions of pay rates established by the people making the high wages It's arbitrarily.

If the Post thinks there is a problem 'somewhere', then clearly it is being consciously done by high wage earners...who the hell else decides what to pay a worker but the owner or CEOs or Shareholders or etc?

[Toucano]

4. The economy is FLOURISHING people!

And the insurgency is in it's "last throes"!

Oh wait. That was LAST summer.

[WePurrsevere]

5. How is the economy flourishing if the REAL inflation rate is about 11%

and wages are increasing only at 3.4% to 5.8% for the working poor and middle class? It sure looks to me like the only economy that's flourishing is for those in the upper income bracket and inflation is beating the snot out of the average American.

How can we have a truly healthy economy when those who actually SPEND money, which stimulates the economy in a trickle UP way, are struggling to just get by so can't spend the way they would if they had the extra? I know many are going further into debt but sooner or later, if things don't get better, they won't be able to keep juggling all the balls in the air and they'll either loose it all or die from trying.

[Giant Robot]

6. Grumbles to myself

My wages only went up 1.5percent last year. Mrs. Giant Robot saw about the same raise as well. In case anyone wonders why the upper classes do not want to talk about a class war, this is the reason.