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Occupy Wall St.'s drumbeat grows louder
"I think the message is obvious," said Jesse Lagreca, 38. "The wealthiest one percent is taking advantage of working class people. They've been selling us faulty financial products, they've been taking huge bonuses while depending on society to bail them out."
CBSMoneywatch's Jill Schlesinger points out that, according to economists at Northeastern University, corporate profits represented 88 percent of the growth in real national income between the 2Q of 2009 and 4Q of 2010, during the same period aggregate wages and salaries accounted for just over 1 percent. "The money that companies have earned during the recovery has mostly stayed within corporate America," writes Schlesinger, "and has not trickled down into higher wages, nor has it created enough jobs to put some of the 14 million unemployed Americans back to work."
Moneywatch: Shrinking Incomes Fuel Protester Anger
"Ninety-nine percent of the people need to be prospering, not just the top one percent," said Michael Mulgrew, president of New York City's United Federation of Teachers.
"Every community knows they're hurting, what's going on is wrong, and it's time to stop this and make a difference, and do things that allow all people to prosper."
Occupy Wall St.'s drumbeat grows louder - CBS News
"I think the message is obvious," said Jesse Lagreca, 38. "The wealthiest one percent is taking advantage of working class people. They've been selling us faulty financial products, they've been taking huge bonuses while depending on society to bail them out."
CBSMoneywatch's Jill Schlesinger points out that, according to economists at Northeastern University, corporate profits represented 88 percent of the growth in real national income between the 2Q of 2009 and 4Q of 2010, during the same period aggregate wages and salaries accounted for just over 1 percent. "The money that companies have earned during the recovery has mostly stayed within corporate America," writes Schlesinger, "and has not trickled down into higher wages, nor has it created enough jobs to put some of the 14 million unemployed Americans back to work."
Moneywatch: Shrinking Incomes Fuel Protester Anger
"Ninety-nine percent of the people need to be prospering, not just the top one percent," said Michael Mulgrew, president of New York City's United Federation of Teachers.
"Every community knows they're hurting, what's going on is wrong, and it's time to stop this and make a difference, and do things that allow all people to prosper."
Occupy Wall St.'s drumbeat grows louder - CBS News