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The Salaries of all Public School Teachers in New York City, Paid to One Man.
The United States has the highest inequality rate in the developed world. 28 million Americans -- almost 1 in 10 -- are using food stamps. The average worker has seen virtually no real increase in wages since 1970.
Some hedge fund managers made over a billion dollars last year. Hedge fund manager John Paulson, who made a clever bet against subprime mortgages, made close to $4 billion.
How much is 4 billion dollars? If you work as a sales clerk in a retail store, you'd have to work 200,000 YEARS to make 4 billion dollars. If you have a steady $50,000 a year job as a laborer and work for 50 years, in all that time you'd make as much as the hedge fund manager gets in one hour at the office.
4 billion dollars would pay a year's salary for ALL the public school teachers in New York City.
Yet this money goes to one individual.
Paul Buchheit is on the faculty of DePaul University and the Chicago City Colleges. He is the founder of Global Initiative Chicago (GIChicago.org), and the founder of fightingpoverty.org. He is the editor and main contributor to American Wars: Illusions and Realities (Clarity Press).
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