Record Corporate Profits, Wages Stagnant

[Orbitus]

doesn't anyone get it?...this world is ruled by the devil and his agents...christ kingdom is coming; this world will get worse before the end. daniel 2:44.

Sorry but using scripture about wages is kinda retarded. Especially when they don't even make fucking sense.

[Fugus]

doesn't anyone get it?...this world is ruled by the devil and his agents...christ kingdom is coming; this world will get worse before the end. daniel 2:44.

Correct me if I am wrong, but aren't many of the people voting for this to remain this way and compounding the problem the religious right?

<Sarcasm>
So this is the Christians attempt to end the world sooner rather than later hoping for rapture in their lifetimes?
</Sarcasm>

[PizzaSHARK]

Guaranteed basic income

What does that actually mean? Would everyone above a certain age be given X amount of dollars per year just for existing, or would it be only for working people or people on disability? What's the actual implementation of this idea?

I mean, it sounds fine to me, but good fucking luck getting something like that to happen over here. Hell, it'd probably be tough to pass even in a lot of EU countries, especially outside of the Scandinavian zone.

[Wells]

What does that actually mean? Would everyone above a certain age be given X amount of dollars per year just for existing, or would it be only for working people or people on disability? What's the actual implementation of this idea?

I mean, it sounds fine to me, but good fucking luck getting something like that to happen over here. Hell, it'd probably be tough to pass even in a lot of EU countries, especially outside of the Scandinavian zone.

Every adult citizen in good standing with the public, checks in the mail. It'll never happen but hey we can dream.

[taliey]

The problem is you've made a straw man argument.

The comparison should not be made between profits and wages. It should be made between profits and employee compensation. But of course, if you do that, then its a lot more difficult to generate anger. However, if you ignore ALL benefits and compensation and focus solely on wages, then you might be able to gin up hatred, divide the people, and get the wrong people elected.

Let's put it this way. The cost of healthcare has skyrocketed. Yet companies have continued to offer health insurance to their employees. This insurance is a benefit, and when factored into what an employee earns, their true compensation is much higher than you might think it is.

What's really amazing is that it is next to impossible to find charts of total employee compensation over the past 3-4 decades. It seems no one is interested in making those charts. But straight up wages, boy THOSE charts are everywhere.

Remember, a HUUUUUUGE part of critical thinking is to determine what they AREN'T telling you.


Like here. Here is great chart to illustrate the problem.



See, at the bottom, in fine print, they spell it out that wages on the chart do not include benefits. That should make you spit out your drink. So they compare profits with only a PART of what an employee earns. You have to freaking stupid to buy that chart as anything meaningful.

There's many benefits. Health insurance. 401k. Company matching. They ignore all of it.

Here is one of the rare charts that compare corporate profits with total employee compensation:



But for that 15 year period, roughly half the time, corporate profit growth was WAY below employee compensation growth. In fact from 1998-2002, employee compensation was WAY AHEAD of growth in corporate profits.

But that's not a sexy headline. That won't grab attention. So, its ignored.

I think the argument is that corporate profits are still at record highs, despite taking these increased employee compensation packages (with benefits, of course).

The argument could be changed to, corporate profit growth rates outpace employee compensation growth rates.

[Wells]

Employer 401k compensation is dropping, employer provided health insurance isn't doing great either. So yeah, hoping that compensation makes up for stagnant wages isn't going to get you far Grummgug.

[taliey]

Employer 401k compensation is dropping, employer provided health insurance isn't doing great either. So yeah, hoping that compensation makes up for stagnant wages isn't going to get you far Grummgug.

The thing is, contributions to these healthcare plans are a % of your salary.

So if wages are stagnant or lower...

[Deleted]

Not to mention healthcare in the US is shitty and expensive (one of the most inefficient in the word in fact), so taking your metric, the shittier and more expensive it is, the better off the employees are because yay benefits.

C'mon.

[Aeluron Lightsong]

Employer 401k compensation is dropping, employer provided health insurance isn't doing great either. So yeah, hoping that compensation makes up for stagnant wages isn't going to get you far Grummgug.

They can afford a little bit of that money for their employees. I'm losing sympathy for these bad wage companies.

[Wells]

They can afford a little bit of that money for their employees. I'm losing sympathy for these bad wage companies.

Yeah I don't think there's much excuse for an employer to rake in cash hand over fist and still pay wages that require government assistance to live on.

[taliey]

Yeah I don't think there's much excuse for an employer to rake in cash hand over fist and still pay wages that require government assistance to live on.

Walmart and the food drive for their employees makes me chuckle everyday.

[PizzaSHARK]

Yeah I don't think there's much excuse for an employer to rake in cash hand over fist and still pay wages that require government assistance to live on.

There isn't, but good luck getting the people who write our laws and participate in that upper class society to (want to) understand that. They grew up in a different world, where it was a lot easier to get an education, and that education was a lot more likely to get them a great job with good pay and great benefits, so when they see a bunch of people working in McDonald's, they believe it's because they lack ambition or are lazy, rather than because that's literally the only option they had.

It's a horrible thing to say, but I really can't wait til all these rich, old, white assholes fucking die or otherwise have to retire from positions of power.

[taliey]

There isn't, but good luck getting the people who write our laws and participate in that upper class society to (want to) understand that. They grew up in a different world, where it was a lot easier to get an education, and that education was a lot more likely to get them a great job with good pay and great benefits, so when they see a bunch of people working in McDonald's, they believe it's because they lack ambition or are lazy, rather than because that's literally the only option they had.

It's a horrible thing to say, but I really can't wait til all these rich, old, white assholes fucking die or otherwise have to retire from positions of power.

There will be young people with the same exact views that then come into power.

It isn't an age problem. It's a ideology problem.

[AeneasBK]

It's a horrible thing to say, but I really can't wait til all these rich, old, white assholes fucking die or otherwise have to retire from positions of power.

Said most people at some point over the last ten centuries :P

[jugzilla]

I really can't wait til all these rich, old, white assholes fucking die

This part really kinda stood out for me here. Stay classy, libs!

[Wells]

This part really kinda stood out for me here. Stay classy, libs!

Peanut gallery says what?

[Masark]

What does that actually mean? Would everyone above a certain age be given X amount of dollars per year just for existing, or would it be only for working people or people on disability? What's the actual implementation of this idea?

The former. Actual implementation details vary depending on which advocate you ask.

[jugzilla]

The former. Actual implementation details vary depending on which advocate you ask.

Implementation details depend on your final score at the end of playing Candyland. Congressman Tooth Fairy would give you 250 a week, Senator Clause would give you 400. You get an extra 150 bucks a month if you are drug addict. Meanwhile in the real world..

Its Friday.

[taliey]

Implementation details depend on your final score at the end of playing Candyland. Congressman Tooth Fairy would give you 250 a week, Senator Clause would give you 400. You get an extra 150 bucks a month if you are drug addict. Meanwhile in the real world..

Its Friday.

The best way to discuss an issue is to not even mention it.

[Independent voter]

I think it's all due to global competition.

Say you work at a plastic bottle factory and you make $9 an hour. You push for $10 an hour and get it. Now the bottles made in China are a $1 cheaper a box and your bottle company is forced out of business and you lose your job.

Immigration might have a bit to do with it too. In the US we have H1B visas which allow technical people to work in the US and these are highly paid jobs. Companies say they can't hire locally but I don't think that's completely true.

Wall Street Journal explains how stagnant worker wages hurts the economy because people can't afford to buy things like cars.

online.wsj.com