Tim Ryan: “In the late 1970s, the top 1 percent of the people in our country controlled about 9 percent of real income, and in…”

“In the late 1970s, the top 1 percent of the people in our country controlled about 9 percent of real income, and in 2007, the top 1 percent controlled about 23.5 percent of real income. If you go back and see the amount of time families worked in the late 1970s compared to today, the average family works about 12 weeks more a year than they did back then. So the average family is making less, working longer, sometimes two or three jobs just to make ends meet, and part of the problem has been this erosion of the manufacturing base. And what we are talking about with currency manipulation is the Chinese Government artificially subsidizing every single product that lands on our shores here in the United States. So, yes, it may be cheap, because it is being subsidized by their government, but it is putting American workers and American manufacturers out of business. If we are going to resuscitate this economy, we have got to focus as a nation on making things in America again.”