Inequality on the Diamond
At the time that we are about to preserve the tax cuts for the very rich, a New York Times article shine a nice light on the extent of inequality.
“At its high point, six decades ago, DiMaggio’s salary came to $100,000. That was a lot of money in 1950, equivalent to about $900,000 today. DiMaggio earned about 30 times the median family income back then. Mr. Jeter, however, earns roughly 300 times as much as today’s median family income — assuming that the family has any income at all. With unemployment stubbornly stuck at 9 percent — plus, many people are watching this battle of the millionaires with very cold noses pressed against the window.”
Haberman, Clyde. 2010. “Fewer Millions for Jeter? Say It Ain’t So!” New York Times (30 November): p. A 23.