Wednesday, June 15, 2011

Workers’ Pay Hits Record Low

Despite record profits by American corporations ... workers' are receiving less in pay ... a record low .. this results in less tax revenue ... which bankrupts the system as some of the highest paying jobs which stimulate the economy are those of firefighters, policemen, teachers ... those who can afford to buy homes ... they aren't the highest paying but there are many of them .. more than architects, engineers, stock broker etc ... everyone wants to focus on gov't spending but what about lack of tax revenue !??!

This article pretends to ask why this has occurred ...It's simple ... GREED why aren't they allowed to say so ??

Workers’ share of national income plummets to record low

Over the last decade, the share of U.S. national income taken home by workers has plummeted to a record low.
Check out the chart below, compiled by the Labor Department, and posted this week by conservative writer David Frum. It shows that the decline began with the brief recession that followed 9/11 in 2001. But it continued even as the economy picked up again, and got even worse once the Great Recession hit. In the weak recovery since then, workers' share of income just kept on falling.

Why are workers taking home such a reduced share of the pie? Opinions differ, but many experts think that the trend has to do with a number of factors, including a decline in the bargaining power of labor, and increased competition from foreign workers. Similarly, over the last year or so, U.S. companies have made record profits, while unemployment has stayed high and wages have barely risen.
The chart jibes with other data, which show that since the 1980s, income for the richest 1 percent of Americans has exploded, while hardly budging at all for everyone else.
Still, there's little sense that either Obama administration or Congress plan to do much about this growing inequality. Indeed, any serious action to boost the economy and cut unemployment now seems to be off the table.

No comments:

Post a Comment