This infographic shows you why the rich stay rich.
On July 9, a Walmart representative told the Washington Post, that the retail giant would not pursue three planned D.C. stores if the city council’s living wage legislation—which would require major retailers to pay workers at least $12.50 per hour, instead of the current $8.25—passed.
At the center of Walmart’s case are arguments that have been made pretty much any time any city tries to raise the wage standard for its workers: that higher wages are anti-business and negatively impact consumers.
But really, much of Walmart’s historical fight against fair pay has been debunked.
Like the myth that higher wages means fewer jobs.
"Part of the reason why higher wages don’t mean fewer jobs," says employment analyst Jack Temple, "is because higher wages offset high turnover." When you pay people more, they tend to stick around, and that gets rid of costs in new hires and absenteeism.
According to the Economic Policy Institute, in 2012, average CEO compensation among the 350 largest U.S. public companies was $14.1 million (including income from options), which was a 12.7% increase on 2011, and 37.4% jump over 2009.
Some economists explain this higher-than-the-highest phenomenon by saying that CEOs’ jobs are becoming more difficult, and that they therefore should be paid better. But the EPI favors a different explanation: that CEOs hold the reins of their organizations and can win the compensation that suits them.
Here’s an interactive map that shows the median income of every neighborhood in the U.S.
Rich Blocks, Poor Blocks is an interactive map showing the average income for every neighborhood in America. Type in your address, press search, and there you have it: Your city, shaded by income, according to data from an annual survey conducted by the Census Bureau. The greenest blocks—Census blocks, that is, not city blocks—signify the richest areas, typically bringing in an average household income of $100,000 or more a year. The reddest blocks are the poorest, with annual income somewhere around $20,000. All the rest get some shade of red or green, depending where they fall.