From firstname.lastname@example.org Tue Oct 31 08:41:26 2000
Date: Mon, 30 Oct 2000 22:04:40 -0600 (CST)
From: Institute for Public Accuracy <email@example.com>
Subject: A Missing Campaign Issue: Economic Apartheid
A Missing Campaign Issue: Economic Apartheid
Institute for Public Accuracy,
Monday 30 October 2000
JOEL BLAU, firstname.lastname@example.org
Author of "Illusions of Prosperity: America's Working Families in an Age of
Economic Insecurity," Blau said today: "The economic fissure in American
society is the great unmentionable of this year's presidential campaign.
Between 1977 and 1999, the after-tax income of the top fifth increased 43
percent, while the after-tax income of the top 1 percent increased 115
percent. At the same time, the bottom two-thirds of all households lost
ground or struggled to hold their own. Absent much discussion of this
issue, the gap between the presumption of universal prosperity and voters'
own experience of their lives is a big reason why neither of the major
presidential candidates has been able to develop a strong bond with the
electorate or retain a lead in the polls."
FELICE YESKEL, email@example.com, http://www.ufenet.org
CHUCK COLLINS, firstname.lastname@example.org
Yeskel and Collins are co-directors of United for a Fair Economy and
co-authors of the newly released book "Economic Apartheid in America: A
Primer on Inequality and Insecurity." Yeskel said today: "Thirty years
after the Kerner Commission predicted 'Two Americas, separate and unequal'
based on race, a huge gulf has opened up between wealthy and working
Americans. We titled our book 'Economic Apartheid' to spotlight...just how
extreme this economic divide has become. Between 1983 and 1998, the wealth
of the top 1 percent has grown 42 percent, while the bottom 40 percent has
seen their net worth fall by 76 percent, based on Federal Reserve numbers."
Collins added: "Twenty years ago, the average CEO of a major U.S.
corporation earned 42 times as much as the average employee; today that gap
has widened to 475 times. If the minimum wage had risen as fast as CEO pay
during the 1990s, it would now be $24.13 instead of $5.15."
JENNY LADD, email@example.com, http://www.responsiblewealth.org
Ladd, who inherited part of the Standard Oil fortune at age 21, is now a
philanthropic advisor and donor organizer whose business is called Class
Action. She is a member of Responsible Wealth, a national network of
business leaders, investors, and affluent individuals who advocate for
shared prosperity. She said today: "I want to live in a society where we
can all walk the streets with less fear, rather than too many of us living
behind bars, some in gated communities and some in prison. As a wealthy
person, I may benefit financially from the current system, but the fraying
of our social fabric resulting from too much inequality pains me..."
For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020; David Zupan, (541) 484-9167
Institute for Public Accuracy
915 National Press Building, Washington, D.C. 20045
(202) 347-0020 * http://www.accuracy.org * firstname.lastname@example.org