Economic crisis for 90%, more riches for 1%

This video is called Fat Cats in Crossfire: Occupy Wall Street aims for all streets.

By Kate Randall in the USA:

13 March 2012

Income for the top 1 percent of US households rose dramatically in 2010, the first full year following the official end of the recession, according to recently released data. By contrast, the average income of the bottom 90 percent of households remained at its lowest level since 1983.

The Widening Wealth Divide, and Why We Need a Surtax on the Super Wealthy: here.

10 thoughts on “Economic crisis for 90%, more riches for 1%

  1. Raising the Retirement Age Is Just Another Attempt To Cut Retiree Benefits

    The majority of Americans, across all political parties, believe there should be no cuts to Social Security. Yet there’s ongoing discussion about raising the Social Security retirement age. Make no mistake about it—raising the age of eligibility would have a devastating impact on a segment of our population that’s already at risk, as well as all future generations as they reach retirement.

    Raising the retirement age is unfair to workers who have paid into the fund throughout their careers. And Social Security benefits are much lower than most people realize—on average about $13,800 for men and $11,800 for women annually.

    What you need to know:

    Retiring early remains very popular, with 3 out of 4 people claiming benefits early.

    The full retirement age for Social Security benefits was changed in 1983 from 65 to 67 for people born in 1960 or later.

    Benefits for those who retire today at age 62 will be reduced by 25%.

    When people born in 1960 apply for early retirement in 2022, their benefits will be reduced by 30%.

    If we raise the retirement age to 70, those retiring at 62 will take an even bigger cut, as much as 45%!

    Together, we must act NOW to protect Social Security Benefits!

    The National Committee to Preserve Social Security and Medicate believes that cutting benefits by any means is unacceptable, including raising the retirement age. Lend your voice and send a strong message to Congress by joining the National Committee in its efforts today.

    > Learn more about the National Committee’s efforts to preserve
    Social Security.|utmccn=protectthispromise|utmcmd=dedicatedemail|utmcct=joinnow-textlink1st-3-16&__utmv=-&__utmk=75242386

    > Watch a 2-minute video on the importance of Social Security for the American Dream.|utmccn=protectthispromise|utmcmd=dedicatedemail|utmcct=joinnow-textlink2nd-3-16&__utmv=-&__utmk=211505557

    The National Committee to Preserve Social Security and Medicare is not affiliated with any political party or any branch of government.


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