carlfense Posted November 24, 2014 Share Posted November 24, 2014 Wonder why the rich are getting richer while wages/employment stagnates for everyone else? Here you go: Thats about a trillion dollars more a year in profit. And since then, wages as a percentage of GDP have fallen, you guessed it, by about the same 6 percent or 7 percent of GDP. Coincidence? Probably not. What very few Americans seem to understand is that that extra trillion dollars isnt profit because it had to be, or needs to be or should be. That extra trillion dollars is profit because powerful people like me prefer it to be. It could have been spent on your wages. Or it could have gone into discounts to you, the consumer. We capitalists will tell you that our increasing profits are the result of some complex economic force with the immutability and righteousness of divine law. But the truth is, it is simply a result of a difference in negotiating power. As in, we have it. And you dont. . . . What else might we have done with that $6.9 trillion other than manipulate stock prices? Well, we could have forgiven the $1 trillion in student debt currently crippling the purchasing power of young Americans; funded the looming $3.6 trillion maintenance backlog on our roads, bridges, dams, schools and the rest of our nations public infrastructure; boosted our nations annual R&D expenditures by more than 20 percent a year; and still have enough money left over to buy every man, woman and child in the U.S. a round of drinks. Every Friday night. For the next 15 years. http://www.politico.com/magazine/story/2014/11/overtime-pay-obama-congress-112954.html#.VHNC9JMlf-Q Link to comment
NUance Posted November 24, 2014 Share Posted November 24, 2014 Whatever happened to overtime pay? We sent it all to China. Along with most of the factory jobs in America. Thanks Obama. And Reagan, Bush I & II, and Clinton. Link to comment
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