[PEN-L:127] Re: The Left and Inequality

["Fellows, Jeffrey" <jmf9@xxxxxxx>]

By my estimates, which will be published soon:

Real GDP/labor year [40hours a week x 52 weeks] in 1995 was $54,985 for
workers 16 and over. Real GDP/person with work experience was $48,093,
and per capita was $32,955. Of course, these figures do not include
accumulated wealth, which is what others have mentioned. According to
industry breakdowns in Gross Product Originating, actual employee
compensation accounted for about 57.9% of the total.

Jeff
 ----------
From: Gar W. Lipow
To: pen-l@xxxxxxxxxxxxxxxxxxx
>Subject: [PEN-L:125] Re: Re: Re: The Left and Inequality
Date: Monday, July 06, 1998 2:57PM

Actually I think that even in terms of income that this is plain
wrong. I recently saw the figure cited on the LBO list that if the
U.S.GDP were distributed equally per hour worked (after substacting
capital investment) then pre-tax earnings would be $22 an hour.

This means a single earner family would earn $44,000 a year for a
forty hour work week. A dual earner family would earn $88,000 a year.