The labor share of income in the US is at its lowest post-war level
libertystreeteconomics.newyorkfed.org
The labor share of income in the US is at its lowest post-war level
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Re: The labor share of income in the US is at its lowest post-war level
#255%? Ew. We can get it even lower. I want my profits.
Re: The labor share of income in the US is at its lowest post-war level
#3it feels like every share of income is at its lowest except for the ultra wealthy.
Re: The labor share of income in the US is at its lowest post-war level
#455%? Ew. We can get it even lower. I want my profits.
I am John Capitalism and I revoke the USA's permission to use my name until they crush labor share of income below 50%.
Re: The labor share of income in the US is at its lowest post-war level
#5it feels like every share of income is at its lowest except for the ultra wealthy.
The annoying/sad/infuriating thing is the ultra wealthy don’t have “income.” Technically, according to IRS rules, much of what they experience (housing, food, etc) should be classified as income. But their lawyers and accountants help them keep that looking quite low.
Re: The labor share of income in the US is at its lowest post-war level
#6it feels like every share of income is at its lowest except for the ultra wealthy.
It’s not. There are plenty of non-wealthy people who make money from things other than their labor.
Small-time landlords are an example, as would be anyone who owns a small business and draws cash from profits rather than taking a salary.
Re: The labor share of income in the US is at its lowest post-war level
#7Interesting that most of the decline happened in the 2000s. The graph shows a large decline from ~2000 to ~2008 which continues after the GFC before going up a bit in the 2010s. The drop off since COVID is comparatively small.
Re: The labor share of income in the US is at its lowest post-war level
#8it feels like every share of income is at its lowest except for the ultra wealthy.
The annoying/sad/infuriating thing is the ultra wealthy don’t have “income.” Technically, according to IRS rules, much of what they experience (housing, food, etc) should be classified as income. But their lawyers and accountants help them keep that looking quite low.
I used to think this - but when I talked to a tax lawyer friend and we walked through the steps they take, usually they're just deferring taxation that does end up getting paid by an entity eventually.
Re: The labor share of income in the US is at its lowest post-war level
#9it feels like every share of income is at its lowest except for the ultra wealthy.
The annoying/sad/infuriating thing is the ultra wealthy don’t have “income.” Technically, according to IRS rules, much of what they experience (housing, food, etc) should be classified as income. But their lawyers and accountants help them keep that looking quite low.
Capital gains not being considered earned income is simply sensible use of terminology to categorize different ways of amassing purchasing power. For example, in order to carry out the linked analysis.
It has nothing to do with the IRS or taxes.
Re: The labor share of income in the US is at its lowest post-war level
#10This is clearly heading in a direction where the USA is going to elect a huge number of socialists, who in turn are going to enact massive taxes on billionaires and break up the monopolies.[1]
This is why I think the billionaire oligarchs are literally mentally ill. They've won the entire game. They control everything. They live like gods, they twitch a pinky and millions dance.
But their response to all of this power is to seek even more of it, destabilizing the very system that has them on top. You would think self-preservation would kick in. The fact that it is not and that their greed knows apparently no bounds is going to lead to their extinction.
For a long time I thought it was hyperbolic to say so, but no longer -- the billionaires are mentally ill.