Former Labor Secretary Robert Reich gives us the short version, including cartoons!
his first point, Reich compares apples&oranges; i.e. the growth of
GDP (the production of all workers) with the growth of median wages (the
partial compensation of a typical worker). Since there are a whole lot
more workers now than back in 1980, one
would expect GDP to growth faster than median wage. He should have
compared median Total Compensation to GDP (while factoring in the change
in the number of workers and the decrease in the median number of hours
worked). The rest of his argument is a bunch of unrelated assertions
and none of it is backed up with sources (which he could have done by
providing a link to a longer, more detailed argument).
that was wonderfully concise information. Nothing I didn't know already, though. What we need to know is HOW DO WE GET OUT OF THIS MESS???!!!! The worst part is a point that wasn't made. The final point is that the superrich, with their political clout, have also gotten many in the middle and lower economic classes to carry water for them. They have these people voting against their own best interests! Very clever, but it WILL cause this country to fall to it's knees. We're in trouble as a country and the superrich are concerned about affording their fifth gold toilet. Sad, very very sad.
The Republicans want to apply more Leeches to an already, Anemic Patient..!