In the article “Who Killed the Middle Class,” there are two diagrams that deal with economic growth. These diagrams compare the growth from 1947-1973 with the growth from 1973-1993. These diagrams help illustrate that the rich are getting richer while the poor are getting poorer.

The first graph, entitled “The Picket Fence and the Staircase,” depicts real income rates for five levels of income and two time periods. From 1947-1973 each of the five income classes made great climbs in incomes. Each of these groups enjoyed an increase of about 2.5%. But for the years 1973-1993, there was a dramatic turn-around. The lowest income group lost .78% in growth of their income. This means that they were actually making less as the years went on. In contrast, the highest income group enjoye

In the case of the mergers between Chase Bank and Chemical Bank, Michael Price looked to make a fortune. He did so at the expense of 12,000 employees who lost their jobs. Price gained because stock prices went up 50%. Those workers, however, that held little or no stock lost their jobs with very little compensation. These workers considered Chase Bank a family, and were crushed during the merger.

This loss in income is due to a number of reasons. They range from an increase in a skilled labor force to corporate takeovers whose end result is the termination of thousands of jobs. In either case, the lower class unskilled laborer suffers at the hands of businessmen who are out looking for profits. This is evident in both the “Economic Report of the President” as well as the video “Running with the Bulls.”

There was a third case involving Value Jet. Wall Street took over the company and cut many jobs. This culminated in major crashes due to a lack of safety. Once again, the rich get richer at the expense of lower level workers struggling to survive.

“The Economic Report of the President,” specifically page 173 contains graphs, which demonstrate the increase in inequality due to shifts in either the supply or demand of skilled and unskilled laborers. In the supply graphs, there were increases in the supply for both unskilled as well as skilled workers. This pushed the wages down for both groups, but increased employment.

This graph also shows that in 1997, the top fifth’s income was ten times that of the poverty line, while the bottom fifths was slightly less then one. This means that, while the rich were enjoying a substantial income, the a

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