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RE: American workers' wages stagnant, even in a great economy: why?
August 14, 2018 at 1:37 pm
(August 13, 2018 at 2:57 pm)alpha male Wrote: I'm all for taxing the 1% in order to reduce the deficit, but really, the people in the 1% tend to be the innovators who produce wealth.
Overwhelmingly they are rich because their family is rich.
When you have enough money, money makes lots of money by interest alone.
And if you have say a person in charge who is also rich who can sway the economy in your direction.....
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RE: American workers' wages stagnant, even in a great economy: why?
August 14, 2018 at 1:40 pm
(This post was last modified: August 14, 2018 at 1:41 pm by The Grand Nudger.)
We do love the horatio alger myth here in the states. A significant amount of people imagine that the rich are former street urchins who boostrapped themself up and out the ghetto through pluck and daring raining money and jobs down on all the little people they left behind.
In reality, they're trust fund babies in a network of people who look out for each others financial interests even as those little people around them are completely ruined.
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RE: American workers' wages stagnant, even in a great economy: why?
August 15, 2018 at 4:29 am
(August 13, 2018 at 2:43 pm)Anomalocaris Wrote: (August 13, 2018 at 2:03 pm)vorlon13 Wrote: I think the metrics are misleading.
Wages stagnant, but more people working, then business IS spending more on wages. Workers, en mass, do have more money.
And not considering the 'bump' in pay from welfare/unemployment insurance to actual minimum wage (at least) is disingenuous.
You can alway look at average wage instead of quibbling about this and that effect with no consideration for the magnitude of their impact on the whole.
And when looking at average wages look at the median (50% and below) rather than mean (sum all wages/no employees). Wage distribution is most definitely not standard.
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