The practice by governments and companies to provide cost-of-living increases with percentages instead of a dollar amount is a major contributor to the extreme gap between the rich and poor.
For example: a person making $20,000 a year and one making $70,000 each get a 3 percent raise. The person earning $20,000 a year gets a $600 raise, while the person earning $70,000 would get a $2,100 raise. Multiply the difference over the last 20 years and it is easy to see the wide, wide gap in pay equity. Only when raises are given in dollar amounts rather than percentages will the disparity stop getting wider.
So if the cost of living increases by $1,200, the person earning $20,000 will only get half the increase, while the person earning $70,000 will get more than double the increase.
- My view: Utah leaders, don't let EPA fool you...
- In our opinion: After change to state pension...
- Letter: Eroding the BSA
- Letter: Methane benefits
- Richard Davis: Planned Parenthood scandal...
- Jay Evensen: Muhammad Yunus wants to end...
- In our opinion: Time to phase out federal...
- Jay Evensen: An Obama-created monument in...
- In our opinion: Trump's statements on... 71
- Letter: Eroding the BSA 62
- Jay Evensen: An Obama-created monument... 47
- In our opinion: Teacher pay one way to... 45
- Richard Davis: Planned Parenthood... 38
- In our opinion: Time to phase out... 27
- My view: Utah leaders, don't let EPA... 25
- Jay Evensen: Muhammad Yunus wants to... 22