The 32,400 employees at Goldman Sachs averaged $383,374 each last year, the Wall Street banking giant has just disclosed.
Typical employees at Goldman, of course, didn’t take home anything near that $383,374. Bank clerks nationally only average $24,100 a year....
The political profile of economic inequality in America has certainly been growing. So has the political confusion over what overcoming inequality will take. Unfortunately, President Barack Obama’s latest State of the Union address may only add to that confusion.
Half a century ago, President Lyndon Johnson declared a “War on Poverty.” That war would soon make a real difference. In the decade following its 1964 launch, our official poverty rate dropped from 19 to 11.2 percent.
But that progress stalled in the 1970s...
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