By Sarah Jaffe
The middle class is being hollowed out; increasingly, there are the super-super-rich, and there are the rest of us.
This week, David Segal at the New York Times broke the news to America that not only was Apple — the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity — making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.
Apple store workers, he wrote, make up a large majority of Apple’s US workforce—30,000 out of 43,000 employees in this country—and they make about $25,000 a year, or about $12 an hour.
Lawrence Mishel at the Economic Policy Institute notes that that’s just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011. ….
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