The wealthiest 1% hold more wealth than the bottom 90%.
Pretty good article about why this is unsustainable and has created the environment where the murder of a CEO is celebrated.
Link: https://thehill.com/opinion/finance/5034916-populist-rage-inequality-discourse/
Replies to: The wealthiest 1% hold more wealth than the bottom 90%.
And the Democrats hold 60% of the wealth and the Republicans 40%.
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“The poor will always be amongst you”. It is just the natural state of the world.
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There is nuance, the pitchforks come out only after a threshold has been crossed
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How did we get here you ask? Read the attached commentary on the "Productivity-Pay-Gap"...
...from the article...
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A rising tide should lift all boats. When the economy expands, everybody should reap the rewards. This outcome can either be guaranteed by smart and compassionate policy choices or subverted by policymakers choosing a different path. EPI’s Productivity-Pay Tracker shows a shift toward the latter: Since the late 1970s, our policy choices have led directly to a pronounced divergence between productivity and typical workers’ pay. But it didn’t have to be this way. A large majority of U.S. working families could have had significantly higher incomes today if policymakers had made different choices.
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What broke the link between pay and productivity?
Starting in the late 1970s policymakers began dismantling all the policy bulwarks helping to ensure that typical workers’ wages grew with productivity. Excess unemployment was tolerated to keep any chance of inflation in check. Raises in the federal minimum wage became smaller and rarer. Labor law failed to keep pace with growing employer hostility toward unions. Tax rates on top incomes were lowered. And anti-worker deregulatory pushes—from the deregulation of the trucking and airline industries to the retreat of anti-trust policy to the dismantling of financial regulations and more—succeeded again and again.
In essence, policy choices made to suppress wage growth prevented potential pay growth fueled by rising productivity from translating into actual pay growth for most workers. The result of this policy shift was the sharp divergence between productivity and typical workers’ pay shown in the graph.
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Ask yourself, which Party consistently pushed for Minimum Wage Growth to keep pace with the rising cost of living...and which one fought this effort tooth and nail, while also blocking any effort by government (e.g. Assistance to low income families) to fill the accelerating Productivity-to-Pay gap.
DJT's promise to double down on his 2017 Tax Bill will only make things worse...but then, that's what his Plutocratic Pals (e.g. Musk, Theil, etc.)...and of course, Putin...want to see as they all combine to "Make America God Awful" for all but them.
Link: https://www.epi.org/productivity-pay-gap/
The coming inflation, which will be necessary to pay our debt interest, will make this worse.
We are fast approaching the moment in which the Left won't be able to pretend that spending an extra trillion here and there to give election contribution payoffs to "climate friendly" companies is harmless to the country, or that giving handouts to the entire world whom they believe have a right to enter out country freely is harmless to the country. They are squandering the financial power of the nation that has the greatest chance to actually cause change.
In communist countries it's far worse... and if you post about it then it's off to the gulag.
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There's a reason the Communists don't allow the citizenry to own firearms
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Then vote Democrat.
AOC! AOC! AOC!
AOC defends the shooting of insurance company executives. Is that what you stand for?
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Yes, apparently, he does. Politics over morality. #sad.
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Do you agree with AOC that POTUS should just ignore SCOTUS when he doesn't like their decisions?
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AOC. Now that’s funny. Only a little over 6 years left.
12 of past 16 yrs were Obama/Biden including past 4 yrs.
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Exactly. UHC's profits have more than quadrupled since ACA passed.
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I tried to warn people it helped Big Pharma,Big Insurance,& Big Hospital but hurt patients. 94 said
that it would reign in health care costs.
I guess we know how that turned out as well.
I don't begrudge anyone for getting whatever pay they can, but it's the Boards that approve these
massive pay packages and such packages seem to keep increasing compared to the common employee. CEO's will end up making millions even if they fail at their jobs and get removed. Unless someone is like a Steve Jobs, Elon Musk, Bill Gates, etc. that helped build such a successful business literally from the ground up and took on the risk, I don't think most CEO's or any one person is worth that much money or that important to the company, especially those that are hired from the outside and walk into well established businesses. They all do the same thing when first hired. The whack about 5-10% of the workforce to save money. They all have investment bankers and other consultants in their ear trying to convince them to do deals. I just don't see the value that one person brings to justify them making all that money compared to the rest of the employees. Again, I don't begrudge them getting what they can. I personally think these Boards are like pro sports owners. The free agent star athlete tells a team, if you want a championship, then pay me what I want. Same thing with these boards. They are all desperate to have a thriving and growing company that some CEO candidate says if you want this place turned around or having significant investor growth, then I want this amount and the Board approves it. What I don't like is how successful people and companies are constantly demonized by the left. It's insane but is probably done to deflect from their own short comings and bad policies.
The CEO/BoD relationships are typically rather incestuous
Boards are frequently filled by other CEOs, retired CEOs, and their buddies.
Don’t got after the wealthy, go after the institutions of Indoctrination that sell this crap
Generations have already been weaponized against capitalism and our country’s values and beliefs.
Exactly. For years, the liberals have blamed successful individuals and companies for everything bad
in the country.......which only is a deflection tactic from themselves. It's also a jealously thing especially with young liberals. I never understood why liberals paint successful rich people and businesses as scum. We should all be aspiring to be like them. The violence tends to come more from the left. It's adult temper tantrums. When they don't get their way, they kill, burn, loot, destroy, cancel, etc. It's really sad.