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Born at the Crest of the Empire

Monday, September 04, 2006

From this BBC article, The End of the American Dream?

Happy Labor Day.

(probably light posting today.)

I spent a lot of words blogging on this same stat today, but that one chart says it all.

Looks like someoneis making a lot of money off of labor's labor, but it isn't us.

By abi, at 9:25 AM
Look at the corporate profit growth. That's where it's all going.

And just as a kicker, taxes on Cap gains and dividends keep going down.

Mike

By mikevotes, at 10:30 AM
This one is scary, because there are no apparent, palatable, public policy wage answers (aside from min. wage increases for the cheapest workers). Global pressures on wages for all education levels are just going to get stronger. This graph would look worse if you factored in the increasing costs of health coverage to the wage earner and the loss or reduction in pension and other benefits, areas where policy action on corporations actually could help.

By Anonymous, at 6:10 PM
Good point about health benefits, but the counter is that profits have continued to rise. (I wonder if you did it from the business side and added business borne health costs to wages what it would look like.)

The key question, I guess, is whether that rise in profits is solely due to outsourcing or due to productivity pictured in the graph.

Mike

By mikevotes, at 8:49 PM