{"id":200474,"date":"2021-03-31T18:18:00","date_gmt":"2021-03-31T23:18:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/03\/31\/not-enough-bullets-91\/"},"modified":"2021-03-31T18:18:00","modified_gmt":"2021-03-31T23:18:00","slug":"not-enough-bullets-91","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2021\/03\/31\/not-enough-bullets-91\/","title":{"rendered":"Not Enough Bullets"},"content":{"rendered":"

Did you know that if the minimum rose as fast as Wall Street bonuses, it would be $44 an hour now<\/a>?<\/p>\n

I don’t know about you, but it makes me want to find a way claw to it all back, because, to quote Billie Ray Valentine, “Billy Ray Valentine principle, “The best way you hurt rich people is by turning them into poor people.” <\/p>\n

The chaos that the coronavirus pandemic unleashed on America’s economy turned out to be a major boon for Wall Street traders, according to new data from the New York state comptroller’s office.<\/p>\n

Wall Street firms paid their New York City-based traders an average bonus of $184,000 last year, a 10% increase from 2019, New York’s comptroller, Thomas DiNapoli,<\/a> said in a press release Friday.<\/p>\n

But those paydays have been skyrocketing for decades. Since 1985, Wall Street traders’ bonuses have grown 1,217% \u2014 and that’s just part of their overall pay, which was more than $406,000 on average in 2019, according to data from DiNapoli’s office<\/a>.<\/p>\n

By comparison, the federal minimum wage has flatlined at $7.25 an hour \u2014 or $15,080 annually \u2014 for 12 consecutive years. When adjusted for inflation, it has actually decreased by 11% since 1985. <\/p>\n

If the minimum wage had instead grown at the same rate as Wall Street bonuses, it would be $44.12 an hour today.<\/span><\/p><\/blockquote>\n

We really need to levy a tax on financial transactions, and place a limit on fees for tax advantaged accounts (IRAs, 401(K)s, etc) of less than 10 basis points.  (.1%)<\/p>\n

These parasites have been doing nothing but extracting wealth from the rest of us for decades. <\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know that if the minimum rose as fast as Wall Street bonuses, it would be $44 an hour now? I don’t know about you, but it makes me want to find a way claw to it all back, because, to quote Billie Ray Valentine, “Billy Ray Valentine principle, “The best way you hurt …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[969,1004,1143],"tags":[],"class_list":["post-200474","post","type-post","status-publish","format-standard","hentry","category-evil","category-finance","category-inequality"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200474"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=200474"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/200474\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=200474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=200474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=200474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}