http://news.yahoo.com/s/yblog_thelookout...s-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.

It is obviously because taxes are at record highs!!!

Because unemployment is at about 10%, and there are a hundred workers that will replace you if you snivel about your wages.

It's an employer's market, simple as that.

Just think off the new jobs that would be created and how much actual wages would go up for everyone if we'd just give the Gazillionaires a better tax break.

Fish on...

Todd

"over the last year or so, U.S. companies have made record profits,"

The article says that profits are up 28% from a year ago


"But the economy won't pick up -- and unemployment start to come down -- until businesses decide to invest in workers, and not just software. To do that, of course, they'll need more confidence that there's a light at the end of the tunnel -- and right now, that confidence is in short supply

If companies have a market for their goods or services and can't meet the demand they will invest in more workers. Most companies that move manufacturing out of the US do so because stock holders are demanding greater profits.

Fixed that typo for you.

I can't resist... UP THE REVOLUTION!!!

that'd be great... would be great political theater to see the republicans come out against tax cuts for the rich because.............

OBAMA SUPPORTS THEM.

The way the Republicans act these days, if Obama came out against gays, you'd see Rick Santorum in the next Pride Parade...

Fish on...

Todd

P.S. He'd be walking a dog, too.

Too many American workers buy into the Tea Party BS - again, as Todd has pointed out on more than one occassion they vote against their own self interest. When you vote in Tea Baggers who blame Unions for all of the ills under the sun, what can one expect.

Dan S. is dialed in on this.....it's as simple as supply and demand.

Tell me, why would any boss pay someone $75K/year, when there are plenty of folks with the same qualifications who would love to do the job for $50K/year? Right now all I see is a whole bunch of college loans that are going to be an absolute burden to pay off. And things ain't gonna turn around anytime soon.

And for those who have lost, or are about to lose their houses....guess what? Renting is going to start climbing like a rocket. Again.....supply and demand.

Awful picture........Let's Fish (While you can still afford it.)

"Broke people ask questions like how much down and how much per month. Rich people, or people with a plan who are going to be rich one day, ask how much or what’s the total price!"

One of the smartest statements I have seen in quite a while.

record profits means companies are meeting investors expectations right now. If they are making money people are buying their product somewhere so why should they hire more unless production does not keep pace with demand.

Those Tea party enthusiasts are sure going to be pissed when they wake up from there fervent party and find out they invited the wolves into the hen house.

The only thing that has trickled down is povertyt!


Fishy

Only on the working class.


Serves the working class right, however.

They keep voting for fans of Ayn Rand.

http://papers.nber.org/papers/w17072

50% of the people in the US cannot come up with $2k in 30 days if they had an emergency. Another 19% would have to pawn or sell something or get a payday loan to come up with the money.

They are all lazy POS. They need to all go get a good job that pays well.

Right on the money. At least from where I sit.

I am buried in work, work that I normally would have someone else do while I was on the golf course. The peole who work for me are buried to the point that they just look at me like I am Satan himself when I walk into their offices. They aren't getting raises, and neither am I. We are just trying to get ourselves in position for the next downturn. I don't worry at all about them leaving, because there is 100 people out there who will step in and take that job at a lower pay rate.

I could hire, but the new reality that the great recession triggered has me way gun shy even though I shouldn't be. I think this is true for a lot of companies, especially service-based businesses.

For the bigger companies who I work for, I have seen several projects that would provide hundreds of construction jobs, and 50+ permanent jobs get shelved for the same exact reasons: Uncertainty in the regulatory and tax arenas.

Thanks for this thread, sometimes typing out your thoughts can lead to a perspective change.

Corporations are plundering the US with the help of our legislators and the majority of people in this country are too busy texting, sexting, watching cartoons, porn and scratching out a meager existence to get involved. Those that want to get involved are divided into those that see the horror being wrought by this infestation and those that are amazed by the shiny Tea pot and have stars in their eyes.


God help us all!


Fishy

Endorsing indoor tanning products from what I hear...

And Kleenex tissue.