I admit, I got sidetracked. Instead of writing a blog post for today, I read everything on this chart:
It reminds me a little of an Andex chart, in that it’s packed with too much information. But in this case, the information is way more dense. The artist listed 5 (6) things that he learned in researching the chart. Here are five things I learned:
- A dinner at McDonald’s is cheaper than a homemade chicken dinner, or even a homemade dinner of pinto beans and rice, if you include shopping for two hours, travel, prep and cleanup (at $16.27/hr). The moral: don’t shop every single day.
- Between 1965 and 2007, worker compensation has remained constant, after adjusting for inflation. CEO compensation, conversely, has exploded. In 1965, a CEO earned 25x the hourly wage of a worker. In 2007, the CEO earned 275x the worker’s wage.
- In America (and probably across Western democracies), the government taxes the rich more than the poor, but FAR from proportionally to their income generation.
- The American government currently funds about 40% of its spending programs using debt. On a related note, Canada has a little more debt than the US in proportion to GDP.
- The combined pay at banks and Wall Street firms is about half of combined teachers’ salaries. In a similar vein, government spending on K-12 education (in the US) is less than a third of total spending (including privately) on health care.
- In the US, the government consumes almost 14% of GDP. In contrast, education costs 1.1% of GDP.