Most laid-off US workers take pay cuts in new jobs
Laid Off Workers
FILE - In this Feb. 22, 2012 file photo, dozens of job seekers line up to enter a National Career Fair in New York. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more. (AP Photo/Mark Lennihan, File)
Laid Off Workers
FILE - In this June 15, 2011 file photo, job seekers wait in a line at a job fair in Southfield, Mich. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more. (AP Photo/Paul Sancya, File)
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samkat posted at 7:09 pm on Sun, Aug 26, 2012.
In the meantime, corporate heads are raking in obscene salaries and perks while hoarding vast cash reserves. Our tax laws courtesy of big money special interests allow them and their corporations to shield their money from even the tax rates the average American pays. Maybe that is why Mitt continues to make his tax records be reviewed.