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High school prepared hundreds of millions of ordinary workers for the modern workplace and helped to lift their incomes, shrinking the gap between their pay and that of the college educated.
Englander: In the eurozone, the adjustment comes by incomes shrinking, which brings down borrowing levels [as business can't afford to borrow for expansion and hiring.] This process is very painful, because it takes much longer for competitiveness to be restored.
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You guessed it: incomes shrank by nearly half a percent.
Top 1 percent incomes grew by 11.2 percent while bottom 99 percent incomes shrunk by 0.4 percent.
Civil servants and pensioners have already seen their incomes shrink by more than 20%.
As the underlying collateral declines in value and incomes shrink, the real burden of debt rises.
When portfolios and incomes shrink, major philanthropists tend to cut off marginal institutions but strengthen their commitment to pet causes.
Single people and married people with two kids and one earner will see their incomes shrink by a further £3 in the tax year after next.
The resulting burden has been as much financial as emotional for many families, as onetime weekend warriors see their incomes shrink and businesses dry up.
They have little time and energy for friends and other diversions, and they may fret over how to make ends meet when expenses rise and family incomes shrink.
At the same time many of those whose incomes fell the most -- those reporting $200,000 to $10 million in income -- paid at the highest rates, which meant that the drain on revenues was even greater when their incomes shrank.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com