Strikes

[ousdahl]

Again, I’m no expert. But I googled “wage growth vs inflation” and these are two of the first articles the search produced:

A crucial measure of how far from full recovery the economy remains is the growth of nominal wages (wages unadjusted for inflation). Nominal wage growth since the recovery officially began in mid-2009 has been low and flat.

https://www.epi.org/nominal-wage-tracker/

In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.

https://www.pewresearch.org/fact-tank/2 ... r-decades/

These are the first two articles in the search, which is to say, hardly a complete analysis.

And they’re both a couple years old, and don’t account for the pandemic. (And how sad is it that the biggest factor pushing for higher wages in recent memory may be a fucking pandemic)

But if we’re going to compare wage growth relative to inflation, can we also compare wage growth relative to executive compensation and corporate profits?

[Deleted User 863]

I think the bone you have to pick with "executives of corporations" is such a small group of people in reality.

A corporation doesn't have to be huge. Plenty of Corporations are smaller businesses. Plenty of executives aren't buying up all the $1,000,000 condos in your area.

For example look at how much wal mart has grown in our lifetimes...i would say their executives probably deserve huge salaries even if they don't have to sweat it out in a kitchen flipping burgers (super stressful i am sure).

And before you say i am bashing burger flippers i want to just say that i have been one. In high school i worked at a bar/restaurant. I made pizzas and washed dishes and occasionally flipped a burger if the grill cook was doing something. I probbaly smoked 25hitters a night with 5 cigarette breaks (i quit smoking cigarettes the night my daughter was born 7+ years ago and haven't had a single one since). So sorry, but it's not super stressful to be a kitchen cook (executive Chef at high end dining or similar is obviously different).

[Cascadia]

You guys are just clown showing the shit out is this thread.

So now we have 2 options, American Capitalism or Russian Communism. That’s it, nothing else exists!!!!

[Mjl]

Again, I’m no expert. But I googled “wage growth vs inflation” and these are two of the first articles the search produced:

A crucial measure of how far from full recovery the economy remains is the growth of nominal wages (wages unadjusted for inflation). Nominal wage growth since the recovery officially began in mid-2009 has been low and flat.

https://www.epi.org/nominal-wage-tracker/

In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.

https://www.pewresearch.org/fact-tank/2 ... r-decades/

These are the first two articles in the search, which is to say, hardly a complete analysis.

And they’re both a couple years old, and don’t account for the pandemic. (And how sad is it that the biggest factor pushing for higher wages in recent memory may be a fucking pandemic)

But if we’re going to compare wage growth relative to inflation, can we also compare wage growth relative to executive compensation and corporate profits?

Thanks for those. I take some issues with the details of some of those analyses, but it does seem to confirm wages are rising, so that's good.

I think our difference is that I see median wage growth vs inflation rising slowly but steadily as a good sign and that we're improving and people can afford more on average, whereas you are just seeing the wages rising more rapidly for the top earners and seeing that as an indication that capitalism doesn't work...

I mean, I am all for improving the tax code to add back in some higher tax brackets, tax long-term capital gains more for high earners, and fixing loopholes around certain dividends. Capitalism can't be completely unchecked, you need to adjust some knobs here and there. But I don't want to throw it in the garbage when things are improving, and especially seeing what alternatives have produced.

[MICHHAWK]

The United States of America is the greatest country on earth. By a wide margin.

[Deleted User 863]

Again, I’m no expert. But I googled “wage growth vs inflation” and these are two of the first articles the search produced:

A crucial measure of how far from full recovery the economy remains is the growth of nominal wages (wages unadjusted for inflation). Nominal wage growth since the recovery officially began in mid-2009 has been low and flat.

https://www.epi.org/nominal-wage-tracker/

In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers.

https://www.pewresearch.org/fact-tank/2 ... r-decades/

These are the first two articles in the search, which is to say, hardly a complete analysis.

And they’re both a couple years old, and don’t account for the pandemic. (And how sad is it that the biggest factor pushing for higher wages in recent memory may be a fucking pandemic)

But if we’re going to compare wage growth relative to inflation, can we also compare wage growth relative to executive compensation and corporate profits?

Thanks for those. I take some issues with the details of some of those analyses, but it does seem to confirm wages are rising, so that's good.

I think our difference is that I see median wage growth vs inflation rising slowly but steadily as a good sign and that we're improving and people can afford more on average, whereas you are just seeing the wages rising more rapidly for the top earners and seeing that as an indication that capitalism doesn't work...

I mean, I am all for improving the tax code to add back in some higher tax brackets, tax long-term capital gains more for high earners, and fixing loopholes around certain dividends. Capitalism can't be completely unchecked, you need to adjust some knobs here and there. But I don't want to throw it in the garbage when things are improving, and especially seeing what alternatives have produced.

Well said.

[jhawks99]

The United States of America is the greatest country on earth. By a wide margin.

This post makes this a perfect thread.
Close it.
Hall it.

[ousdahl]

Good discussion.

And I’m not sure whether wages rising more rapidly for top earners is an indication that capitalism doesn’t work, or that it’s working precisely as planned. Capitalism is more winner take all; socialism is more for empowering broader communities - at least in theory.

And I agree on your proposed tax reforms. It seems though that many disagree on that as a matter of principle, even if it doesn’t directly affect their returns, and even if it could benefit them or some greater good in the long run.

And I agree that capitalism can’t be completely unchecked (man am I glad I didn’t say that first). There are already mechanisms in place to keep it in check - minimum wage, 40 hour work weeks and overtime, worker’s comp, workplace safety regs - all that came against the will of the capitalists, not because of it. And despite what the capitalists feared, the economy continued right along.

I think, all things considered, capitalism is still the best model for Merica, and it can’t/won’t ever change. But I also think that “adjusting some knobs” are beneficial, even necessary.

So let’s argument capitalism with some socialism to make it worthwhile for everybody.

[ousdahl]

The United States of America is the greatest country on earth. By a wide margin.

This post makes this a perfect thread.
Close it.
Hall it.

Every country on earth ever thinks or thought the same about themselves.

Even the Soviets!

[Deleted User 863]

The United States of America is the greatest country on earth. By a wide margin.

This post makes this a perfect thread.
Close it.
Hall it.

Everybody gets HOF nowadays.

[ousdahl]

Kazakhstan is the greatest country in ze world

All other countries are run by little girls

[Deleted User 863]

The United States of America is the greatest country on earth. By a wide margin.

This post makes this a perfect thread.
Close it.
Hall it.

Every country on earth ever thinks or thought the same about themselves.

Even the Soviets!

You haven't been to many other countries have you?

[Deleted User 863]

Kazakhstan is the greatest country in ze world

All other countries are run by little girls

McDonald Trump!

[ousdahl]

Dangit you quoted me before I could add Borat

[ousdahl]

This post makes this a perfect thread.
Close it.
Hall it.

Every country on earth ever thinks or thought the same about themselves.

Even the Soviets!

You haven't been to many other countries have you?

Just Canada.


U.S. labor and immigration laws have afforded me quite the tour of Latin America though

[ousdahl]

[ousdahl]

Do we need a thread just for healthcare?

https://khn.org/news/article/drugmakers ... crats-say/

[Deleted User 89]

given the behavior of purdue pharma and the sacklers (among a multitude of others), i think it would behoove congress to keep a closer eye on the goings on at pharma firms (and this comes from someone that works at one)

[Deleted User 863]

given the behavior of purdue pharma and the sacklers (among a multitude of others), i think it would behoove congress to keep a closer eye on the goings on at pharma firms (and this comes from someone that works at one)

Agreed. Should be a non partisan issue. Should be....but we know how that usually goes.

[ousdahl]

Why, exactly, is it not a non-partisan issue?