21–30 of 859 posts
It never does. This is just accelerating the pandemic-era wealth transfer that started with the rich getting trillions to prop up their assets while everyone else got $600.
How did the rich get trillions to prop up their assets?
There is this 40% or so of the population that will not switch jobs. I don't know why you would ever give them a raise because as their reaction to it is just going be to complain and go back to work.
It's worth noting that switching jobs for pay raises is mainly a white collar thing. If you work in trucking for instance, where productivity is capped, worker differentiation is minimal (meaning two different truckers perform essentially identical work unlike engineers or salespeople), and where industry margins are thin, you'll top out relatively quickly. After that, switching companies isn't going to do all that m…
This is not true in the Phoenix or Tennessee areas, two places I know folks in the trucking business. Competition for drivers is fierce, and that leads to better offers from firms who have found a niche where they can charge more.
It is largely because of the power imbalance between capital and labor. Capital sets the prices of goods and also sets the price it pays for labor. The solution is strong and broad based labor unions, but capital has labor convinced that it is against their interest to organize. I hope this boils over and we start hanging capital from the street lights.
Why does the US, a society with low union membership rates have much higher median salaries both before and after taxes and government benefits than in Europe where there are lots of powerful unions? https://data.oecd.org/hha/household-disposable-income.htm
It never does. This is just accelerating the pandemic-era wealth transfer that started with the rich getting trillions to prop up their assets while everyone else got $600.
The first thing in the article is a graph where 7 our of the 11 years shown have positive real wage growth.
If worker pay never kept up with inflation, the country would be among the world’s poorest.
It is largely because of the power imbalance between capital and labor. Capital sets the prices of goods and also sets the price it pays for labor. The solution is strong and broad based labor unions, but capital has labor convinced that it is against their interest to organize. I hope this boils over and we start hanging capital from the street lights.
Why does the US, a society with low union membership rates have much higher median salaries both before and after taxes and government benefits than in Europe where there are lots of powerful unions? https://data.oecd.org/hha/household-disposable-income.htm
Earlier quoted context omitted.
Why does the US, a society with low union membership rates have much higher median salaries both before and after taxes and government benefits than in Europe where there are lots of powerful unions? https://data.oecd.org/hha/household-disposable-income.htm
Healthcare costs in the USA eat those gains.
Americans are still making 25% more than Western European counterparts.
Earlier quoted context omitted.
Why does the US, a society with low union membership rates have much higher median salaries both before and after taxes and government benefits than in Europe where there are lots of powerful unions? https://data.oecd.org/hha/household-disposable-income.htm
Healthcare costs in the USA eat those gains.
It never does. This is just accelerating the pandemic-era wealth transfer that started with the rich getting trillions to prop up their assets while everyone else got $600.
Except in 10 of the last 12 years, as you can clearly see in the same chart
Earlier quoted context omitted.
How did the rich get trillions to prop up their assets?
Tax cuts for companies, increased government spending to boost stock markets, state subvenventions, significantly lower interest rate than inflation.
It is largely because of the power imbalance between capital and labor. Capital sets the prices of goods and also sets the price it pays for labor. The solution is strong and broad based labor unions, but capital has labor convinced that it is against their interest to organize. I hope this boils over and we start hanging capital from the street lights.
Why does the US, a society with low union membership rates have much higher median salaries both before and after taxes and government benefits than in Europe where there are lots of powerful unions? https://data.oecd.org/hha/household-disposable-income.htm