[lbo-talk] Inequality on the Diamond

[michael perelman]

At the time that we are about to preserve the tax cuts for the very 
rich, a New York Times article shine a nice light on the extent of 
inequality.

"At its high point, six decades ago, DiMaggio's salary came to $100,000. 
That was a lot of money in 1950, equivalent to about $900,000 today. 
DiMaggio earned about 30 times the median family income back then.  Mr. 
Jeter, however, earns roughly 300 times as much as today's median family 
income -- assuming that the family has any income at all. With 
unemployment stubbornly stuck at 9 percent -- plus, many people are 
watching this battle of the millionaires with very cold noses pressed 
against the window."

Haberman, Clyde. 2010. "Fewer Millions for Jeter? Say It Ain't So!" New 
York Times (30 November): p. A 23.
http://www.nytimes.com/2010/11/30/nyregion/30nyc.html?ref=clydehaberman

-- 
Michael Perelman
Economics Department
California State University
Chico, CA
95929

mperelman at csuchico.edu

530 898 5321
fax 530 898 5901
http://michaelperelman.wordpress.com