SHOCKING New Study Shows How Bad Income Inequality Is In America
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- Опубликовано: 30 дек 2022
- Inequality.org is reporting that American CEOs make more money in one day than the average workers earns in an entire year. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. ruclips.net/user/theyoungturkslive
Read more HERE: inequality.org/great-divide/c...
"If the typical CEO of a large U.S. corporation clocks in at 9 am on January 2, by 3:37 pm that afternoon he’ll have earned $58,260 - the average annual salary for all U.S. occupations.
In other words, in less than seven hours on the first workday of the New Year, that CEO will have made as much as the average U.S. worker will make all year.
I took a look at the even wider disparities for various types of essential workers. My calculations are based on average S&P 500 CEO pay of $18.3 million in 2021 (the most recent figure available), which works out to $8,798 per hour, or $147 per minute."
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221228__TA04_CEOs_Earn_More
The average American worker doesn't have a clue how they are directly effected by corporate stock buy backs.
Education of our population is essential.
Corporations swear they are on the brink of bankruptcy when it comes to raising wages and offering better benefits. But then turn around and throw tens of millions in salaries and benefits to upper management without a problem.
Exactly
It isn't just the CEOs...
It's the upper 30% tier of management too.
But....tens of millions IS brink of bankruptcy for these entitled users.
Imagine being broke af and still defending this stupid situation and billionaires. 😂
Over half a million experiencing homelessness on any given night. Good job America.
Stagnant wages is another way of saying wages have gone down due to the astronomical rise in CEO pay.
I see it as CEO’s stealing our wages, and the government is in on it.
This is because corporations continue to get larger with fewer competitors. A trillion dollar company should be a wake-up call, not something to celebrate.
yes but under the principles of capitalism your business always has to grow. You can never be stagnant. bigger is better. unfettered growth is what capitalism encourages.
@@121Greenthumb But bigger through honesty and high quality prods and good lives for the employees, not cos. that make workers bring their own toilet paper, or pay low or no taxes, etc. Bigger is not always better anyway.
That was a very logical explanation for gree corruption and theft lies and murder sounds like capitalism is anti-religion and the Catholic Church has $1 trillion and pays no taxes is there a connection here
Breaking the kneecaps of the Union workers around 1980 was the beginning of the end of any sort of parity between the workers and the CEOs.
Reagan became pres. in 1981.
I knew it was bad over there but this is sickening to hear. Here in Norway, the average CEO salary is about 11 times higher than the average worker's salary. We think THAT'S a big difference.
This is also something I have tried to explain to US citizens who insist that they have almost as high an average salary as we do. Remove those with these CEO salaries from the calculation in both Norway and the USA and the Norwegian average will hardly be noticeably lower, while in the USA it will be more than halved.
Having monitored the behaviour and attitude of the average US worker who thinks that wealth redistribution is communism, despite the fact that the top 1% are the greatest beneficiaries of wealth distribution through tax cuts, corporate subsidies and tax payer funded bailouts, I am convinced that there is literally nothing that can be done to help most of these people. They would rather starve to death in the street than do anything to rectify this situation so they must be left to their fate which is to be exploited all their lives and then die prematurely due to poor health, possibly work-related, and living conditions. They are willing victims and turkeys who constantly vote for Christmas.
"The average American worker makes around 58 260 dollars a year." What is the average when you remove the top 1% from the equation?
$36,726 - just looked it up for you
YEP and chinas biggest export for 30 years has been low inflation.
For 30 years the one balanced out the other - but that has ended hence the collapse.
@@piccalillipit9211 Huh, Thanks I was wondering that myself and guess I'm average then as that's about how much I make and yet I'm still struggling as rent and car payments are a real pain in my area.
Wealth is like a pyramid. When it gets Inverted it collapses. Historically when this happens chaos occurs. Ask Marie Antoinette.
This needs to be highlighted in a WAY bigger platform. Poverty costs. Most of all, there is zero reason for its existence. There's plenty of money floating around, but large corps and billionaires not paying their fair share, the burden gets passed down. Unbelievable greed.
Yes you’re right they are plenty of money floating around out there but they gonna let you have none of it they’re too damn greedy
Bigger commercialized platforms have issue with that kind of content.
It’s the major reason why media is constantly distracting away from the inequities.
I wonder how that correlates to Nixon taking us off the gold standard? Also, I vote for a MAXIMUM WAGE and a living wage tied to inflation.
*MEANWHILE HERE IN BULGARIA* "The average salary for a Chief Executive Officer (CEO) in Bulgaria is BGN 126,000."
Average pay for a worker - BGN 21,444 5.8 X the average worker - EX COMMUNIST COUNTRY - wages have increased 540% since 1990
No Nic, you are mistaken. It is as simple as breathing, and equally as graceful. Economics, as much as a well-versed university sophomore can tell you, is complicated. But one universal and much approved factor that favors and negatively impulses one economy over the next one is the following. Inflation. Inflation will rob you of the value of your cash. You are an American. Please be aware of what is happening recently. Our country is on the brink of inflammatory economics. Please be aware
When you create a system from slavery. That is all you know to do.
Greed is a sickness.
Yes it is
It sure is. Always a riot when people say greed is inherently a human trait. And I'll tell you monkeys viewed underwater like to swim. It's easy to say humans are greedy when they are forced into capitalism. Unreal.
This has been a problem for decades. I wouldn’t hold my breath this will get addressed. I mean it’s a an absolute crime that the minimum wage is still seven dollars, and these politicians get sworn in and out. I say make every last one of them work a year on minimum wage and see how much they like it.
It's always been the biggest problem in all cihilizations, other than a few brief accidental stints in history
You don't need a study to know most people are BROKE.
The average isn't even truly representative of the problem because it is skewed by outliers. The median, which paints a more accurate picture of what US workers are making is about $45,000, or more than $10,000 less than the average. So the problem is even worse than TYT mentions.
We need to stop talking about this in terms of partisan politics; this isn't about "both sides of the aisle" agreeing or not. It's about those with power abusing it, and those without it suffering the consequences.
Framing it as partisan anything just ensures we bicker amongst ourselves and never take the fight to them.
Truth.
One side of the aisle tends to talk about pulling yourself up by your bootstraps, and not taking hand-outs, they're easy to blame. They create a lot of shame for being poor. They want you to believe the playing field is level.
But BOTH sides of the aisle have people who are taking money from corporate leaders, and both sides vote against the people. Democrats keep bailing out the rich-- and corporate elites, when they should be letting them fail.
Before President Reagan CEOs made 3 times their average employee. Now days the averages CEO is paid 300 times their lowest paid worker.
Away believed President Reagan to be the start of modern problem. Everything changed after his presidency.
Reagan screwed us over in so many ways. You put lipstick on a pig, you still have a pig.
And yet the average worker is the one that pays the lion share of taxes.
Yep. When I was making $11.25 I was loosing 14% of my paycheck. And that was without insurance or a 401K. The OASDI takes WAY too much of your income.
@@MidnightRose. lol. Wait until you hit the 22 or 24% tax brackets.
What get's me is... even when CEO's fail at their job, they still walk away with millions. If you or I do something wrong, we get fired.
Can't afford to pay their workers a living wage? No problem, government will give them welfare so they can survive in spite of their ineptitude. And can't have the rich person be shamed, he was born special after all, we will shame the people working 50 hours a week for not being able to afford food. What's this, the poor rich person STILL can't make it work, even with putting thousands in debt, welfare, and tanking the economy? No worries, government bailout. Now off you go little rich kid, be sure to insist that this is "capitalism", despite there being no spending class, you owning a monopoly with no other businesses even trying anymore, and being subsidized by the taxpayers.
Yep! So true!
Exactly! There is no reason to think that trickle down economics works. We need representatives that will actually work to fix the insane financial inequality in this nation! But the rich are the ones that the politicians listen to in order to get the donations for their next campaign. We all need unions
The main problem is the politicians are the rich (and get richer while in office), good luck fixing that.
Hell, worked hard my whole life, then had a debilitating back injury. Now I'm only gonna be making $18,000 a year. Our government needs to be better. I never was that special, but I was driving a Semi at the time, making around $50,000 a year. Inequality kicks us all in the ass, and it just takes one bad day. Now I gotta learn to make my mortgage, bills, etc on less than what I was making back in 1998.
Our country, for as much as I love it, is truly, work hard for us, but when it comes to you, ya get the scraps. Its no wonder self-harm seems like a reasonable option sometimes. When your suddenly forced to live below the poverty line, lose everything, and just try to live. This is a rough transition, the government doesn't make easy.
Don't misunderstand me though, I'm thankful for the help and support provided by the local people at the offices doing everything they can, while being shoehorned by the government first hand, and trying to help us as much as they can.
Sorry for the rant.
Don't be sorry, it's valid
You live here. You've got a right!
You're not alone brother. I'm in a similar situation and I know how hard it is to make ends meet but then you lose half of your salary and it becomes almost impossible. Stay tough brother.
Except it ain't "The Government"; it's the Republicans.
No problem. I'm always having to apologize for my long comments. You had something important to say that couldn't be said in just a few words. No one can survive on that little money in the United States, nor should they be forced to through no fault of their own. If you have a full-time job, no matter what that job is, you are entitled to a living wage from your employer. You also deserve a more robust safety net in case an injury like yours happens that isn't going to thrust you into poverty while these CEOs make more money than they could ever wish to spend.
This is why we NEVER complain when our unions (such as bus drivers or pre-school staff) strike here in Germany. Companies will always try to squeeze as much profit out of their employees and customers as they can, it's the nature of capitalism.
That's a lesson the American people should learn.
Companies have brainwashed poor Americans to believe strikes and unionization are people being ungrateful and lazy.
The system is corrupt, not broken.
No it’s broken.
It's working perfectly for whom it was designed. It's called capitalism for a reason.
Name a single time, in the entire history of Humanity, that this problem was solved non-violently. I can't think of a single example. Can you?
Agree that's where its headed
@@marcosolo6491 There is always a solution. Always.
How I value workers? If my trash guy disappeared it would affect my life enormously. If Elon Musk disappeared...zero impact on my daily life or what's important to me.
Curious. Reagan became president right around the start of that crossroads in the chart. Trickle down sure works eh? RIGHT???
Socialism for corporations and capitalism for ordinary people...
What do all these CEOs actually do to serve humanity and our country??
OMG !
What’ are all these ceos going to do with all this money?
Rig the system to make more. As usual.
Keep it in the bank, whereas the lowest paid workers would pay that extra off of their loans/credit cards and the banks wouldn't earn as much.
Do you mean you really don’t know they play girl how many fly to Paris take your girlfriend have a good time enjoy life I thought you knew
He or she who dies with the most toys, still dies
It's only shocking if you haven't been paying attention for the last 30-40 years.
bingo
Plus, CEOs don't pay ANY taxes. That's OK, at this rate, soon they'll have all the money they can eat.
So he would only have to work 1 hour to make my annual salary...
Jeff Bezos makes about $468 million PER DAY. And Musk was making about $600 million PER DAY before he face planted.
Capitalist logic forgot that the people in the system need money to keep this going. It's so basic, yet they're ready to run it all into the ground so they can make as much money as possible
Yep, that's where regulation is supposed to reign it in. The problem is those responsible for that regulation are bought and paid for. The fox is in the hen house as it were.
Money that you and me, my fellow American's, pay into the Fed, who then hands it over in all it's various forms, to those massively bloated corporations and their handful of obscenely rich owners. Tax payer money meant to fund schools, and healthcare, better roads and infrastructure, and to better All members of the American society, regardless of race, creed, beliefs, and position. I keep saying this: those greedy few are going to run the majority of us out of options.
And if we're not heard, we know where the pitch forks are.
@@paulnorberg3869 Sadly these people are also willfully ignorant of history. Sooner than later, and probably sooner, the common folk will grab those pitchforks and start burning down mansions.
CEO's should only earn maybe 10% more than a floor worker.
Thank you Ana for making sense of it. Appreciate it.
I have met many americans working in both Europe and the UK and they all say, they are so much better off working and living outside the US. They say America is the richest country in the world , yes for CEO's, doctors, lawyers and politicians but not for 90-95% of the population. Besides inequality in the law and workforce, expensive housing and education, the US has one of the worst gun crimes in the world. Please dont say America is the greatest country, unless you are in the top 5% of the rich.
One problem is that it's too easy for the wealthy and businesses to get around paying taxes. Hoarding wealth is another. There's a minimum wage, there should be a maximum wage or wealth cap. Once you hit the cap, congrats, you won the game. Now it's your turn to help others.
Hello, hope you are all good. Nice profile pic you got there, was going through the comments here when I came across your profile, I like your picture and decided to chat with you. Where are you from?
Our CEO made 14 million last year. Our stocks are around the $2500 ea. And they started cutting everyone's hours weeks before Christmas and haven't stopped. My bosses, bosses, bosses boss. Everyone above store level is nothing but an expense but they make bonuses off of screaming at us to sell, sell sell. We have to take their on line classes anytime they feel the need to make us take another test and MAYBE you'll get a 30 cent raise at the end of the year. New people just starting my job which is a supervisory position make more than me because they crappy raises. While I help with training the new employee "Why is everyone depressed, why doesn't anyone want kidsssss, no one wants to wooooork" I'm over this life so much
Wow, I'm way below average. If I were average, I'd think I was rich.
This is not new info.
George Carlin told us about the real owners a long time ago.
WITH UNIONS YOU NEGOTIATE. WITHOUT UNION'S YOU BEG ...... WAKE UP AMERICA.
Yes indeed, I'm grateful that I had a union job when I retired with a pension.
70% of your countries wealth is in the pockets of 10 individuals who pay less in taxes than I do and 90% of your politicians are involved in insider trading, shocking would be hearing that your people have finally risen up and thrown all the politicians, bankers and CEO's in prison like New Zealand did, but hearing how bad you've got it, is not shocking, it's heart breaking to be totally honest.
Greed is our countries biggest product.
No CEO is harder working or “talented” enough to earn hundreds of times what other human beings do
Pictures describing the “average” CEO’s pay, while showing the upper tier company owners, and CEO’s would be even MORE ridiculous. Some of those shown would achieve parity of pay with average workers in the first few SECONDS.
This reality will only get MUCH worse with automation, as long as we do nothing to address the flaws in our economy.
Ana, I could just cry because this is the truth and nothing is going to happen unless we make it happen. They need our working bodies, without them they have a big fat "0"
I agree totally. I remember back thirty years ago a catholic bishop talking about CEO making five hundred times more than their average workers made . And it wasn't right and I agree I'm sixty nine for me it's over but for the youth it's not fair . Who going to buy you goods if you can't afford them .
Wage theft, by employers . Then umber one type of theft. No one is going to jail for this type of theft. So many criminals wearing suits and as much as we complain about a crime, the focus neve seems to be on the one who steal the most.
Pssfff… OH PLEASE! Nothing will ever change. Everybody can raise hell and pushback and protest in blocking streets for vaccine mandates. Why the hell people can’t come together to do the same thing for these high a** income towards CEO? Why can’t we fight back for equality pay? When we do these things, it works! Everybody care about Stock Market and Twitter. That’s all they are focused on. We humans have ourselves to blame. Oh please!🙄
It'll take a revolution and these days most leftists are against arming up. The right has all the guns so they have a monopoly on power. We don't.
Not only is CEO pay atrocious, but their 'Golden Parachutes' are insane! When they leave, they will have paid health care & benefits, while when their employees retire, health care becomes non-existent (or cost prohibitive).
It's not safe here anymore but you don't make enough to move down the street let alone out of country
I see history repeating itself here French Revolution style perhaps. I’m constantly reminded of a quote from an Indian I’m not sure which tribe. But he said one day man will learn he cannot eat money.
Gotta get $$ and corruptions out of corporations and our government.
Average $55,000? What!I've never made more than $25,000 I'm a Collage grad. Don't know anyone who makes that.
I was thinking the same, but I guess it depends what the cost of living is in your state.
Most people don't make that much a year if you make $30,000 you got part of the American dream they lie about
@@NoName-cn3cp Also if you're in a big city or a small town. The trade-off is that your increased expenses will eat up the increased income.
Jesus Christ, Georgia must be a shit hole.
its called modern day slavery.
with the bonus that the slaves now have to house and feed themselves
It's time to eat the rich
I try to stay away from fatty foods.
Late to the party I see.
Finally!
Y'all are beginning to see that the real factor isn't the absolute dollar amount of the annual salaries, but rather the value of that salary vs local cost of living AND the related DISPOSABLE INCOME it amounts to!
$60K in Mississippi is far more money than $60K in New York or California. And while people making $60K in New York or California is much more common, that doesn't mean they have ANY disposable income.
To be fair, taxes should be levied based on relative disposable income, not on absolute amounts, but it will never happen because it's (1) the donors won't let it happen and (2) it would be way too easy for politicians to weaponize it for "low information voters".
Ugh!
I once saw this image that said that if someone lived for 80 years & earned an average of $5,000.00 every day of their life, they still wouldn't be a billionaire, but rather have about $150,000,000.00. At the bottom of the image was a line that said that no one works to become a billionaire. So yeah, we should be taxing multi-millionaire & billionaire individuals & corporations in this country more then we currently are! And if you want to argue that taxes shouldn't be raised on the wealthy and corporations, how can you defend them when they send their U.S. dollars to other countries so they can't be taxed & help fund domestic programs to help poor people here in the U.S.?
We can do both. I can blame Senator Biden (DE-D) for the messes he must patch as President.
If you got $5000 dollars a day since the United States existed you'd only be a out half way to a billionaire and that's if you spend nothing.
Brilliant! I am on disability and completely not able to work.I HAVE to survive on less than $11,000 / Year. 🙏🥳
True that. Numbers don't lie.
Jessie, Now that Elon Musk and Mike Lindall. Have lost billions in their endeavors. We The People, will be stuck with the bill. Plus interest. Paying taxes on golf courses so the rich can make deals. Taxes on federal, states treasured park. That only the rich can schedule to enjoy. No minimum wage increases. Cut the cost of living. The rich have caused this income disparity. We choose between which bills get paid or afford a house. Cut the rent on homes, mortgages and businesses by two thirds. Afterwards only two percent increases. At the same time cut all Federal and states wages by one fifth. Afterwards they receive the same increases as SSI has increases Lowering taxes. 7:35
One of the worst experience you could ever have is. Putting in a full days work then getting off of work and have no home to go to. And they wonder why depression is so high these days. The American dream has been dead and gone for quite some time now. It's almost like a myth at this point.
That's why it's called "the American dream," you have to be asleep to believe in it...
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than $600k within just a year, and I've entrusted my advisor with the task of determining entry and exit points.
@@ThomasChai05 Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.
I'm guided by "Mary Onita Wier" , An experienced coach with extensive financial market knowledge. While you can consider other options, her strategy has yielded positive results for me. She offers valuable insights, including entry and exit points for the securities I concentrate on.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Don't worry guys... That wealth is going to start trickling down any second now...
"start trickling down any second now..."
golden rain from godly spouts
🤣🤣🤣
I honestly have no hope of ever retiring with my wages, I can't afford health insurance and have zero money in the bank for emergency. I'm 50 years old and I've worked hard for years. I'm one accident/crisis away from moving in with family - it's so humiliating. (I did have a little in savings but someone rear-ended me last summer and I'm still catching up from that) I know I'm not alone in this scenario. It's sad! And with the price of groceries now on top of it and rising rent. It feels like they won't be happy until they're all in mansions and we all live in a cardboard box - or just never leave the workplace.
I am sorry for your struggle. I share your pain and your lifestyle. 😢😢😢💙💙💙
another major part of why people aren't willing to spend even the little disposable income they have: people don't see stability in their jobs, they're largely expendable by these businesses. Automation is quickly making a lot of jobs useless, and people are concerned about their future careers. So they're not willing to make huge buys, and will settle for small quick satisfaction ones.
its the same here in the uk...big bonuses for the few at the top of the companies but they begrudge paying us the workers who make their profits decent pay and conditions...yes things need to change
ITS PAST TIME FOR A MAJOR USA WORKERS WALK OUT!!!! AND DEMAND BETTER PAY!!
Maybe if there were unions who would be strong, they could help, like in the EU -
Even Biden recently effed-over a union or unions in the railways, which makes me sad and angry.
Do NOT forget the elderly & disabled. Live on $12,000.00 a year! After having to put into the "system" all our lives!
The most valuable and essential workers in our economy make less then what they are worth compared to those who don’t contribute an essential service.
They have convinced us that money is power, when we remember that the power is in the numbers of people, then things will change.
Like who? Who are you talking about?
@@charliewalker9443 I'm only qualified to talk about my little microcosm that is Flagstaff AZ, right?
I choose to base my knowledge on experiences, rather then what I hear on RUclips, so ya, I'm talking about the employee relationships in my location.
@@adventureswitharizonaart6117 ah cool. Then you need to be more careful with your wording because “They” is not specific unless you include Flagstaff AZ. Because I believe the generic claim is not true
I'm glad that your talking about this but it's been bad for years
The avg American worker making 58k a year
My broke ass barely making 36 lol...
The T
I always thought that people making less than 80k a year shouldn’t have to pay taxes..why does the government take so much taxes from regular people and not from the rich and the CEO’s🤔Prime example Trump got away with paying less taxes than many regular Americans it just doesn’t make sense to me
It’s stripping our educational system.
I would love to defund the educational system
@@tyronesmith1626
Why?
@@karmaalstad5588 Because the well educated don't turn out to be right wing trolls, generally.
$10 pr hr in the late 70's is the equivalent of $38 now. As an 18 yr old l worked part time at nights cleaning carpet and made 40-60 pr day 5 days a week. That was enough to buy an almost new Camaro and ins., pay rent and bills on a 1bdrm apt, eat out for two good meals a day and afford concert tickets, clothes, beer/pot, vacations, christmas presents and just an over-all decent life. We thought money was easy prior to Reagan and he ruined the american dream and upward mobility in 8 yr.s. After Clinton was done the working class was being hammered and just gotten worse and worse.
Reagan set it up, Clinton knocked it out of the park and the working class has only been worse off for it.
I can't afford food and gas I have kids. I starve before my kids would ever.. Full time job but If they just payd us more, a living wage I would be buying thing to the fix my house, my car but they treat us as throw away. They don't care about us just as they don't care about climate change, trees, housing, water... A CEO sits at a desk we get our hands dirty and work some back breaking jobs and still can't get affordable health care or put food on the table or call a repair guy. I have to save for years to get any repairs done..And when something does go wrong we go under BC ppl aren't super human we get sick and die.. We work and work till we can't anymore even when sick just BC we would be behind on our bills if we took that day off.. Life isn't fair but they just keep making it worse for us.. I hope change comes sooner rather then later.
The economy is all messed up , there's jobs that don't pay enough , there's jobs that cut full-time workers and gave them part-time hrs , in some states hrly pay was supposed to go up $1.00 per yr but there's companies that refuse to pay that and they only gave 10 upto 30 cents raise instead of the initial $1 raise.......alot of these companies also laid off a lot of people not just to cut cost down but to also have a lot more money for themselves knowing that they could afford to pay the employees whatever but they don't want too and these companies got there workers doin 2 to 3 times as much work for little pay knowing that they could afford to pay people more.......i feel that there's a lot of greed goin on with all these corporate companies and companies in general and that's why the economy is the way how it is
ceo wages needs to be cut
No that would be thef.
That is exactly what Bernie fights for his entire life!
Over here in Germany this is better, but still the same problem exists and corporate greed is driving our traditionally good health system slowly against the wall. It is collapsing, nurses are getting payed poorly, though the world can't operate without them, also literally "operate".
It's not just their pay but the massive bonuses they get on top of that; and they'll get it regardless of how well or bad the company does.
You cannot keep up hyper capitalism without maximum exploitation.
It's just that simple.
We're not a country anymore, we're a business 😡😡😡😡😡
Agreed!
And, corporate welfare to the rich.
I think you meant to say "corporation".
Are you saying that trickle-down economics doesn't work? Let's keep giving the top 1% tax cuts until it does.
That's how we end up in a future that looks like the movie Elysium. The rich use their money to buy more assets and it never actually trickles down. The people pushing it are in on the scam.
This has been a problem for many many years
😡😡
Oh I get it. I’ve been living in it my whole life! And I’m so fk’g pissed off by it!
A big problem is that when people hear "average", they _think_ "median". Average is an OK metric to use if there is low inequality, but when inequality is high it becomes extremely deceiving.
Example: Imagine a workplace with 5 workers and an income range of 1, 2, 3, 4, and 100 dollars per hour. This means that 4/5 workers at that place has slave wages and lives in absolute poverty. Yet the _average_ hourly wage shows up as 22 dollars per hour, which is a decent salary. The _median_ income however would reveal only 3 dollars per hour, which obviously would be much closer to the reality these workers live in. So this average representation of America makes it look deceptively on par with other industrialized countries, but the reality is that the bottom 30% in America has it much much worse than the bottom 30% in any other industrialized country. Because the ultra rich 1% pulls up the average figure just enough to hide the dark reality tens of millions of Americans live in.
Thank you for this great explanation, this is so important to know.
You are absolutely correct, I wish more people understood this
The gap keeps growing and growing. It doesn't matter which political party is in charge.
Because they both work for the wealthy. Different segments, same class.
Almost as if people are compensated based on title and not value to the company
Dear right wing trolls,
Thanks for helping the algorithm.
I've been saying for a long time now, if every hourly worker went on strike at the same time, it would take less than one week to get everything they ask for in terms of wage and benefits.
The system is working _juuust_ as intended
😙👌💸💸💸
I never understood why capitalism wants to undercut their own customer base. You imagine that they would want to stimulate growth.
Wouldn't you think so? In spite of his many faults, I will give Henry Ford credit for knowing that if he wanted his employees to buy his products, he had to pay them enough to afford it. Seems obvious, doesn't it?
It's because the system itself incentivizes not looking more than a maximum of, say, two or three months into the future. So if there isn't sufficient guard rails to tamp down that behavior, it's *_EXACTLY_* what they'll do.
It seems few corporations take any sort of long view. The next fiscal quarter is as far as they go.
These corporations are constantly making record profits (stock buybacks). It’s the decline of unions over the past 40 years that has led to this.
Thanks Regan for that. He brought it back after it had been illegal.
And the decline of unions is down to the fundamental issue, which will always lead to where we are regardless of reforms. Unless those reforms are stepping stones to removing the fundamental issue.
It’s time to leave America. Hard working educated people shouldn’t live in a constant state of poverty with zero upward mobility for their entire life’s. This is a nation which wants their people to be poor.
I have started asking my job interviews why I should work there? What do they bring to the table. So tired of "being the best worker" at various company's and not getting paid for my contribution. Never again, you want a hard worker who is easily trained? Pay for it. Why should I waste almost 1/3 of my adult life making you money? I freelance as a handy person, caretaker and cleaner. I would like a normal job but I know my worth.
I have two degrees. One has an average starting wage of $47,000 while the other has an average starting wage of $38,000. I have never earned over $30,000 in West Virginia (the poorest, lowest wage state in the country). Wages in America are artificially low in the U.S. due to...
1. A deplorable low minimum wage. The minimum wage was created as a livable wage and was until the 1970s. It was also created as a base wage for ALL wages. Keeping the minimum wage artificially low, keeps EVERYONE'S wages artificially low.
2. A profit-based healthcare model where prices increase at three times the rate of wages (eating up ALL modest wage gains). The number one driver of healthcare costs in the U.S. is prescription drug prices as we are the ONLY advanced country that refuses to regulate prescription drug prices.
I can't take my state remotely seriously as state jobs here pay literally half what the same jobs pay in other states. I have three times the education of almost 90% of my state and have never had a good job here making anything close to a fair wage. I have interviewed for jobs where, when I was finally told how much the job paid, didn't know whether to laugh or storm out due to how insanely, deplorably low the pay was, not only for the position but for someone with my level of education. I ONLY work as a secondary English educator -- NOTHING ELSE -- EVER, but I will be damned if I work in a redneck, undereducated state that pays half what you can make in another state that pays twice as much for the exact same position.
Wow. That graph really shows how well trickle down economics worked. Lol
It's no different here in Australia. It will get to a point and the people will rise up! This is how revolutions always start
I've worked in offices for decades and the most humiliating work I ever did was expense reports for the execs. The company paid for their phones, cars, hotels, dinners with clients at the best steak houses all over the country. I had to beg them to send me the gd receipts for their 12 Glenfiddich shots. All they did was travel whilst I had to put in my 40 hours at $12.00 an hour. Don't get me started on when I did payroll.
No kidding -- one of my brothers did the same thing at GE years ago -- adding up the Rolexes and champagne and hookers (sorry, "hospitality") for the execs bribing decision makers burned him out. The last little company I was at fired half of us and stiffed us on severance so the new cigar-chomping asshole could buy another Hellcat and eat Wagyu and complain about the stress. Hate doesn't even begin to describe what they deserve.
My mom works in accounting of a private beach club. Not a business the working-class stay at. The owner's kids are on the payroll making a millon a year. And she is still there at 72yrs old working, with no retirement and stuck in the rent trap. My mom is a perfect example how trickle down economics works.
One man testified to congress in October 1947, "I feel that they really ought to be smoked out and shown up for what they are".
The working-class don't have money to stay at a hotel.
(A) the kids of the owner stole the funds to stay at said hotel
(B) the hotel doesn't have the working-class as it target customers. The working-class are not invited.
(C) the working-class are stuck in the rent trap, victims of passive income.
The point I'm trying to make. If you are a honest working-class person ~ you are not invited. If you are a criminal ~ you are invited to stay at said hotel. Trickle down economics. A crime families hotel.
You don't need to live in a dog-eat-dog world. A rob Peter to pay Paul world. No. Hel no. The answer is not ~ The only way to stop being Peter is to become Paul.
Me personally ~ I stay in a hotel where the honest people stay. My peers. The working-class section. Where you work until you are 80 and watch the owner's kids steal a million dollar salary.
And becoming criminal Paul is not the only answer to not be Peter. The correct answer is arrest criminal Paul.
Hasn't made sense at all as worker's have complained for 40 years, but Congress is deaf! Congress knows, has known, and has done nothing! Meanwhile more go hungry, more end up in streets!
Not so long ago, top earners were millionaires, now it's billionaires. Other people's incomes have not increased by a thousand times.
@@brupeboring2082 actually not. 300% is 3 times more. It's more like 1,000 times now/ 100,000% more.