Who the hell is Tulsi Gabbard and why the hell is she running for President?

[impuretrash]

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Your Washington Post article wouldn't let me read it because it's a pay site. However your other articles from LAST YEAR don't reflect what's happening in our current day. How do I know this? Because I'm as blue collar as they get. I see the help wanted signs littered in every industrial area I deliver and pickup at. Our customers are constantly asking if I know anybody looking for a job? When I inquire about the wages, they are pretty attractive, especially when you consider the available overtime.

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

Yes... if you don't want to look at the post, just look it up on Google, Bing, whatever. Society in a capitalist country can only go so long with cost of living and inflation rising at a much higher rate than the average wage. You are either going to get a HUGE recession, or you are going to have a government step in and raise the minimum wage, or expand social programs even more. CEOs are ALL about profit and filling their pockets. Eventually the federal government will HAVE to step in and make the companies pay their workers more money because the government deficit can not handle the burden. Either the government can tax these large corporations heavily, and basically be a conduit to give it to the workers, or the companies can do it their selves.

Here is a myth you on the left believe: The reason some have so little is because others have too much. There is no truth to that. Money in this country is infinite. You can make as much as you want, and plenty of people do.

If you put a government cap on CEO salaries at $100,000 a year, that won't help one worker. What you earn or can earn has nothing to do with what a CEO or company makes.

Blue collar workers have been losing in the race because they only get paid what they are worth. So what is a person worth to a company? A persons worth is what your employer can pay somebody else to do the same quality of work that you do. That's it. I don't care how long you were with the company, how much experience you have, or how much education it took for you to get the job. That's what we are all worth.

If you are depending and hoping that government one day forces companies to overpay employees, or put a CEO cap in order for you to make more money, you are a loser. How much money you make doesn't depend on the CEO, it depends on you. And if you think being a CEO is so easy, or that's where the money is at, then try to become a CEO yourself. You'll see it isn't that easy.

You're gross if you want to let the likes of Jeff Bezos and Mark Zuckerberg determine the worth of an American citizen. They will sell us all out for cheap foreign labor in the blink of an eye.

Yes they will, just like companies sell us out for automation. And it's not about what I like, it's about the reality of what a workers pay is worth.

What happens to America when all the jobs are replaced with foreigners and robots?

 

[Lewdog]

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Your Washington Post article wouldn't let me read it because it's a pay site. However your other articles from LAST YEAR don't reflect what's happening in our current day. How do I know this? Because I'm as blue collar as they get. I see the help wanted signs littered in every industrial area I deliver and pickup at. Our customers are constantly asking if I know anybody looking for a job? When I inquire about the wages, they are pretty attractive, especially when you consider the available overtime.

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

Yes... if you don't want to look at the post, just look it up on Google, Bing, whatever. Society in a capitalist country can only go so long with cost of living and inflation rising at a much higher rate than the average wage. You are either going to get a HUGE recession, or you are going to have a government step in and raise the minimum wage, or expand social programs even more. CEOs are ALL about profit and filling their pockets. Eventually the federal government will HAVE to step in and make the companies pay their workers more money because the government deficit can not handle the burden. Either the government can tax these large corporations heavily, and basically be a conduit to give it to the workers, or the companies can do it their selves.

Here is a myth you on the left believe: The reason some have so little is because others have too much. There is no truth to that. Money in this country is infinite. You can make as much as you want, and plenty of people do.

If you put a government cap on CEO salaries at $100,000 a year, that won't help one worker. What you earn or can earn has nothing to do with what a CEO or company makes.

Blue collar workers have been losing in the race because they only get paid what they are worth. So what is a person worth to a company? A persons worth is what your employer can pay somebody else to do the same quality of work that you do. That's it. I don't care how long you were with the company, how much experience you have, or how much education it took for you to get the job. That's what we are all worth.

If you are depending and hoping that government one day forces companies to overpay employees, or put a CEO cap in order for you to make more money, you are a loser. How much money you make doesn't depend on the CEO, it depends on you. And if you think being a CEO is so easy, or that's where the money is at, then try to become a CEO yourself. You'll see it isn't that easy.

Wrong. Wrong on just about everything. First off and most important, I'm not on the left. In fact up until 2016 I was life-time Republican. So let me be VERY clear, the Republican party sold out and lost all moral ground and identity to support Trump. He is a lying scam artist scum bag, and the Republican party not only sold out for him, but now is trying to protect him at all cost. I now choose who I support based on the issues, no matter what party they are from. I don't give a rat's ass if they are Republican, Democrat, gay, black, male, female, a lawyer, a doctor, atheist, a veteran... I look at their character, morality, direction, stances on the most important issues facing the country. I don't let a party tell me what I should support. I'm not a lemming, I can think for myself and understand what is right and wrong.

Most CEOs could be labeled sociopaths... do you know what that means? They look at their workers as expendable, and the only thing that matters is how hot their wife is, the size of their home, the kind of car they drive... how big their bank account is. You know how I know you don't understand the modern business?

Did you know that even though the federal government had to bail out the banks in 2008, a ton of CEOs got huge bonuses still... and RAISES? And the federal government let them. You don't have shit for power in getting rich. It is a brass ring many people will never get, because capitalism is set in a way that it takes money to make money.

CEOs of bailed-out regional banks get raises - Reuters

CEO's are not hourly or salary employees. They are contract employees. Let me give you some comparisons:

A professional baseball team hires a star pitcher. Based on his history, he can not only help put that team in the playoffs, but win the championship and perhaps the world series. But what if that pitcher is having a bad year after hire? He still makes the contract amount.

A rock or country band is renown for selling recordings and selling out appearances. So a recording company signs a contract for 20 million dollars for their next recording that ends up being a flop. That band still gets the 20 million regardless of their performance.

Unlike salary or hourly employees, contract employees are guaranteed a set amount of money regardless of performance. The bet is that the employee will continue that outstanding record.

But what about the employees? Okay, what does a bat boy make? What do roadies make that haul all that equipment to concerts? I knew one years ago, it isn't very much. How about the joke writers for a show, or hair styalists? Wha about the guy who sells beer at football games or cleans the stands after the game? How about the parking lot attendant?

Sharing the wealth is a myth. It doesn't apply to business, and it doesn't apply to any other field. Now as for getting rich, tell me how many attempts have you tried?

You are missing the point as usual. CEOs have sooo much control. Most can basically name the value of their stock... and know when to sell it to make a ton of money... and then wait for the next tax break to buy it back cheaper, rinse and repeat.

 

[justoffal]

I had to look her up.

Turns out she's been a Congresswoman of Hawaii's 2nd district for six years.

That's not much of an accomplishment.

She should wait until she's accomplished something before she runs for President.

Major Gabbard is a member of the Hawaii National Guard and an Iraq war veteran. That alone is more accomplishment than anything Donald has done in his life.

Except that Trump cut taxes and now we have an economic boom and record low unemployment.

Right now you are seeing a huge fake bubble that will soon bust. Trump's tax cuts were supposed to allow companies to pay their workers more money, better retirement, and better benefits. Trump's economic adviser was asked if he really believed that large corporations would really do that, and spread the wealth... he specifically said that, that is what should happen and that the companies would not use that extra money to buy back stocks.

Sadly the opposite happened and MANY large corporations used the new cash to buy back their own stocks, which then gave a bubble of inflation for those stocks... but eventually those companies will have back as much stock as they will buy, and then the market is going to take a sharp drop, which will be the head honchos of the companies selling off their own stock to cash in big time while everyday shlops who have their retirement tied up in the market, get fucked 3 ways to Sunday.



Reich: Trump's tax cut is fueling stock buybacks, not wage increases

We hit a new high in median household income under Trump, and inflation is very low. This gloom and doom you on the left have been talking about started before Trumps set foot in the White House. Just check out any of your hero's (Paul Krugman) articles from a few years back. Yes, workers have gotten raises and bonuses. That's on top of Trump's tax cut that gave people more take home pay.

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Stock holders are also beneficiaries. Grantedt numbers do not compare to the 9 to 5 crowd but this wealth destruction you speak of simply does not exist.

The wealth is currently building in the private sector and whether by stock buy back ( good for the stock holders who want to sell ) or Stock sales ( Good for the executive boards ) there is a transfer of value. It is a legal means of doing business.

Now if you're henny-pennying about the next market correction surely you realize that the Fed is almost always at the center of the storm and not the White House. In the case of the great correction of 2008 even the Fed was caught unawares by the deep rot in the deriviatives scandal. That however had 20 years to incubate and was called out again and again by the more alert economists of the day. It is highly unlikely we will see that effect again in our life times.

Jo

 

[justoffal]

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Your Washington Post article wouldn't let me read it because it's a pay site. However your other articles from LAST YEAR don't reflect what's happening in our current day. How do I know this? Because I'm as blue collar as they get. I see the help wanted signs littered in every industrial area I deliver and pickup at. Our customers are constantly asking if I know anybody looking for a job? When I inquire about the wages, they are pretty attractive, especially when you consider the available overtime.

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

Yes... if you don't want to look at the post, just look it up on Google, Bing, whatever. Society in a capitalist country can only go so long with cost of living and inflation rising at a much higher rate than the average wage. You are either going to get a HUGE recession, or you are going to have a government step in and raise the minimum wage, or expand social programs even more. CEOs are ALL about profit and filling their pockets. Eventually the federal government will HAVE to step in and make the companies pay their workers more money because the government deficit can not handle the burden. Either the government can tax these large corporations heavily, and basically be a conduit to give it to the workers, or the companies can do it their selves.

Here is a myth you on the left believe: The reason some have so little is because others have too much. There is no truth to that. Money in this country is infinite. You can make as much as you want, and plenty of people do.

If you put a government cap on CEO salaries at $100,000 a year, that won't help one worker. What you earn or can earn has nothing to do with what a CEO or company makes.

Blue collar workers have been losing in the race because they only get paid what they are worth. So what is a person worth to a company? A persons worth is what your employer can pay somebody else to do the same quality of work that you do. That's it. I don't care how long you were with the company, how much experience you have, or how much education it took for you to get the job. That's what we are all worth.

If you are depending and hoping that government one day forces companies to overpay employees, or put a CEO cap in order for you to make more money, you are a loser. How much money you make doesn't depend on the CEO, it depends on you. And if you think being a CEO is so easy, or that's where the money is at, then try to become a CEO yourself. You'll see it isn't that easy.

You're gross if you want to let the likes of Jeff Bezos and Mark Zuckerberg determine the worth of an American citizen. They will sell us all out for cheap foreign labor in the blink of an eye.

Yes they will, just like companies sell us out for automation. And it's not about what I like, it's about the reality of what a workers pay is worth.

And there you have it! It has always been about worth. Whether it's the worth of an entry-level worker in a capitalist system or the comparative worth of a dictator on top of a socialist hierarchy. Worth is always what pulls everything back down to earth in the end no matter what system you're talking about. It is the inflation of worth that creates the bubbles and the presence of worth that bursts them.

Jo

 

[justoffal]

Your Washington Post article wouldn't let me read it because it's a pay site. However your other articles from LAST YEAR don't reflect what's happening in our current day. How do I know this? Because I'm as blue collar as they get. I see the help wanted signs littered in every industrial area I deliver and pickup at. Our customers are constantly asking if I know anybody looking for a job? When I inquire about the wages, they are pretty attractive, especially when you consider the available overtime.

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

Yes... if you don't want to look at the post, just look it up on Google, Bing, whatever. Society in a capitalist country can only go so long with cost of living and inflation rising at a much higher rate than the average wage. You are either going to get a HUGE recession, or you are going to have a government step in and raise the minimum wage, or expand social programs even more. CEOs are ALL about profit and filling their pockets. Eventually the federal government will HAVE to step in and make the companies pay their workers more money because the government deficit can not handle the burden. Either the government can tax these large corporations heavily, and basically be a conduit to give it to the workers, or the companies can do it their selves.

Here is a myth you on the left believe: The reason some have so little is because others have too much. There is no truth to that. Money in this country is infinite. You can make as much as you want, and plenty of people do.

If you put a government cap on CEO salaries at $100,000 a year, that won't help one worker. What you earn or can earn has nothing to do with what a CEO or company makes.

Blue collar workers have been losing in the race because they only get paid what they are worth. So what is a person worth to a company? A persons worth is what your employer can pay somebody else to do the same quality of work that you do. That's it. I don't care how long you were with the company, how much experience you have, or how much education it took for you to get the job. That's what we are all worth.

If you are depending and hoping that government one day forces companies to overpay employees, or put a CEO cap in order for you to make more money, you are a loser. How much money you make doesn't depend on the CEO, it depends on you. And if you think being a CEO is so easy, or that's where the money is at, then try to become a CEO yourself. You'll see it isn't that easy.

Wrong. Wrong on just about everything. First off and most important, I'm not on the left. In fact up until 2016 I was life-time Republican. So let me be VERY clear, the Republican party sold out and lost all moral ground and identity to support Trump. He is a lying scam artist scum bag, and the Republican party not only sold out for him, but now is trying to protect him at all cost. I now choose who I support based on the issues, no matter what party they are from. I don't give a rat's ass if they are Republican, Democrat, gay, black, male, female, a lawyer, a doctor, atheist, a veteran... I look at their character, morality, direction, stances on the most important issues facing the country. I don't let a party tell me what I should support. I'm not a lemming, I can think for myself and understand what is right and wrong.

Most CEOs could be labeled sociopaths... do you know what that means? They look at their workers as expendable, and the only thing that matters is how hot their wife is, the size of their home, the kind of car they drive... how big their bank account is. You know how I know you don't understand the modern business?

Did you know that even though the federal government had to bail out the banks in 2008, a ton of CEOs got huge bonuses still... and RAISES? And the federal government let them. You don't have shit for power in getting rich. It is a brass ring many people will never get, because capitalism is set in a way that it takes money to make money.

CEOs of bailed-out regional banks get raises - Reuters

CEO's are not hourly or salary employees. They are contract employees. Let me give you some comparisons:

A professional baseball team hires a star pitcher. Based on his history, he can not only help put that team in the playoffs, but win the championship and perhaps the world series. But what if that pitcher is having a bad year after hire? He still makes the contract amount.

A rock or country band is renown for selling recordings and selling out appearances. So a recording company signs a contract for 20 million dollars for their next recording that ends up being a flop. That band still gets the 20 million regardless of their performance.

Unlike salary or hourly employees, contract employees are guaranteed a set amount of money regardless of performance. The bet is that the employee will continue that outstanding record.

But what about the employees? Okay, what does a bat boy make? What do roadies make that haul all that equipment to concerts? I knew one years ago, it isn't very much. How about the joke writers for a show, or hair styalists? Wha about the guy who sells beer at football games or cleans the stands after the game? How about the parking lot attendant?

Sharing the wealth is a myth. It doesn't apply to business, and it doesn't apply to any other field. Now as for getting rich, tell me how many attempts have you tried?

You are missing the point as usual. CEOs have sooo much control. Most can basically name the value of their stock... and know when to sell it to make a ton of money... and then wait for the next tax break to buy it back cheaper, rinse and repeat.

They can name the value but they can't create the value. Methinks you are missing the point. Other than that GE could simply declare their stock at $150 share! Only....it would have no buyers. Sure Trump's Tax break enabled recapitalization....so what?
If you don't put gas in the tank...you're walking bub!

Jo

 

[Lewdog]

Major Gabbard is a member of the Hawaii National Guard and an Iraq war veteran. That alone is more accomplishment than anything Donald has done in his life.

Except that Trump cut taxes and now we have an economic boom and record low unemployment.

Right now you are seeing a huge fake bubble that will soon bust. Trump's tax cuts were supposed to allow companies to pay their workers more money, better retirement, and better benefits. Trump's economic adviser was asked if he really believed that large corporations would really do that, and spread the wealth... he specifically said that, that is what should happen and that the companies would not use that extra money to buy back stocks.

Sadly the opposite happened and MANY large corporations used the new cash to buy back their own stocks, which then gave a bubble of inflation for those stocks... but eventually those companies will have back as much stock as they will buy, and then the market is going to take a sharp drop, which will be the head honchos of the companies selling off their own stock to cash in big time while everyday shlops who have their retirement tied up in the market, get fucked 3 ways to Sunday.



Reich: Trump's tax cut is fueling stock buybacks, not wage increases

We hit a new high in median household income under Trump, and inflation is very low. This gloom and doom you on the left have been talking about started before Trumps set foot in the White House. Just check out any of your hero's (Paul Krugman) articles from a few years back. Yes, workers have gotten raises and bonuses. That's on top of Trump's tax cut that gave people more take home pay.

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Stock holders are also beneficiaries. Grantedt numbers do not compare to the 9 to 5 crowd but this wealth destruction you speak of simply does not exist.

The wealth is currently building in the private sector and whether by stock buy back ( good for the stock holders who want to sell ) or Stock sales ( Good for the executive boards ) there is a transfer of value. It is a legal means of doing business.

Now if you're henny-pennying about the next market correction surely you realize that the Fed is almost always at the center of the storm and not the White House. In the case of the great correction of 2008 even the Fed was caught unawares by the deep rot in the deriviatives scandal. That however had 20 years to incubate and was called out again and again by the more alert economists of the day. It is highly unlikely we will see that effect again in our life times.

Jo

Most times the Federal Reserve knows what's going on... but not under this administration in which they are trying to disassemble Dodd-Frank. I'm not sure how much more plain I can put it to you guys on here... Trump and his rich friends don't give 2 flying fucks about the middle-class or anyone below them.

Plus, as I have already said, the private sector holds less of the stock now because of the big buy backs that companies did from Trump's tax cuts. When companies control most of the stock, it means they can dump them whenever they want, and they know when and you don't. So by the time they dump them and the stuck dives 25%+, you've already lost a ton of money and you can either sell, or if it is part of a retirement account, you are stuck holding the bag only hoping it jumps back up before you need to cash out.

 

[basquebromance]

nobody in america succeeds on their own. it is only through government that you can succeed!

 

[McRocket]

I had to look her up.

Turns out she's been a Congresswoman of Hawaii's 2nd district for six years.

That's not much of an accomplishment.

She should wait until she's accomplished something before she runs for President.

She is a human being.

And who the hell are you and why the hell should we give a shit what you have to say?

 

[Ray From Cleveland]

Major Gabbard is a member of the Hawaii National Guard and an Iraq war veteran. That alone is more accomplishment than anything Donald has done in his life.

Except that Trump cut taxes and now we have an economic boom and record low unemployment.

Right now you are seeing a huge fake bubble that will soon bust. Trump's tax cuts were supposed to allow companies to pay their workers more money, better retirement, and better benefits. Trump's economic adviser was asked if he really believed that large corporations would really do that, and spread the wealth... he specifically said that, that is what should happen and that the companies would not use that extra money to buy back stocks.

Sadly the opposite happened and MANY large corporations used the new cash to buy back their own stocks, which then gave a bubble of inflation for those stocks... but eventually those companies will have back as much stock as they will buy, and then the market is going to take a sharp drop, which will be the head honchos of the companies selling off their own stock to cash in big time while everyday shlops who have their retirement tied up in the market, get fucked 3 ways to Sunday.



Reich: Trump's tax cut is fueling stock buybacks, not wage increases

We hit a new high in median household income under Trump, and inflation is very low. This gloom and doom you on the left have been talking about started before Trumps set foot in the White House. Just check out any of your hero's (Paul Krugman) articles from a few years back. Yes, workers have gotten raises and bonuses. That's on top of Trump's tax cut that gave people more take home pay.

Workers have not gotten very many raises or bonuses. There is one KEY stat that shows just how bad companies have taken advantage of tax cuts to make profits and bonuses for the CEOs.

The cost of living increase has jumped since the 1950's, yet the average wage has barely grown at all with inflation.

"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago. And what wage gains there have been have mostly flowed to the highest-paid tier of workers."

For most Americans, real wages have barely budged for decades

People in the 1950's-1960's could get a job and work 40 hours a week... and afford a mortgage, car, and be able to create a savings account. Over the last 40 years however, the increase in average wage has not grown anywhere near the same rate as inflation and the cost of living. Now people that work the same kind of job as the people in the 50's-60's can barely afford their car payment, insurance, and some daily costs... but many either need public assistance, live with family longer than people used to, and have less than $500 in their bank account. Most live paycheck to paycheck. So no matter how great you think the economy is doing now, it is going to pop and the only people to make money, are the CEOs that will sell off their stock when it peaks.

Stock holders are also beneficiaries. Grantedt numbers do not compare to the 9 to 5 crowd but this wealth destruction you speak of simply does not exist.

The wealth is currently building in the private sector and whether by stock buy back ( good for the stock holders who want to sell ) or Stock sales ( Good for the executive boards ) there is a transfer of value. It is a legal means of doing business.

Now if you're henny-pennying about the next market correction surely you realize that the Fed is almost always at the center of the storm and not the White House. In the case of the great correction of 2008 even the Fed was caught unawares by the deep rot in the deriviatives scandal. That however had 20 years to incubate and was called out again and again by the more alert economists of the day. It is highly unlikely we will see that effect again in our life times.

Jo

Companies have bought bought back their own stock for decades. This is not a new business strategy. Nobody on the left complained when the feds were dumping hundreds of billions of dollars into the market to keep it on the rise, but now stock buyback is the end of the world?

 

[Ray From Cleveland]

Your Washington Post article wouldn't let me read it because it's a pay site. However your other articles from LAST YEAR don't reflect what's happening in our current day. How do I know this? Because I'm as blue collar as they get. I see the help wanted signs littered in every industrial area I deliver and pickup at. Our customers are constantly asking if I know anybody looking for a job? When I inquire about the wages, they are pretty attractive, especially when you consider the available overtime.

Trump Economy: Blue-Collar Wages Rise Faster than White-Collar

Yes... if you don't want to look at the post, just look it up on Google, Bing, whatever. Society in a capitalist country can only go so long with cost of living and inflation rising at a much higher rate than the average wage. You are either going to get a HUGE recession, or you are going to have a government step in and raise the minimum wage, or expand social programs even more. CEOs are ALL about profit and filling their pockets. Eventually the federal government will HAVE to step in and make the companies pay their workers more money because the government deficit can not handle the burden. Either the government can tax these large corporations heavily, and basically be a conduit to give it to the workers, or the companies can do it their selves.

Here is a myth you on the left believe: The reason some have so little is because others have too much. There is no truth to that. Money in this country is infinite. You can make as much as you want, and plenty of people do.

If you put a government cap on CEO salaries at $100,000 a year, that won't help one worker. What you earn or can earn has nothing to do with what a CEO or company makes.

Blue collar workers have been losing in the race because they only get paid what they are worth. So what is a person worth to a company? A persons worth is what your employer can pay somebody else to do the same quality of work that you do. That's it. I don't care how long you were with the company, how much experience you have, or how much education it took for you to get the job. That's what we are all worth.

If you are depending and hoping that government one day forces companies to overpay employees, or put a CEO cap in order for you to make more money, you are a loser. How much money you make doesn't depend on the CEO, it depends on you. And if you think being a CEO is so easy, or that's where the money is at, then try to become a CEO yourself. You'll see it isn't that easy.

Wrong. Wrong on just about everything. First off and most important, I'm not on the left. In fact up until 2016 I was life-time Republican. So let me be VERY clear, the Republican party sold out and lost all moral ground and identity to support Trump. He is a lying scam artist scum bag, and the Republican party not only sold out for him, but now is trying to protect him at all cost. I now choose who I support based on the issues, no matter what party they are from. I don't give a rat's ass if they are Republican, Democrat, gay, black, male, female, a lawyer, a doctor, atheist, a veteran... I look at their character, morality, direction, stances on the most important issues facing the country. I don't let a party tell me what I should support. I'm not a lemming, I can think for myself and understand what is right and wrong.

Most CEOs could be labeled sociopaths... do you know what that means? They look at their workers as expendable, and the only thing that matters is how hot their wife is, the size of their home, the kind of car they drive... how big their bank account is. You know how I know you don't understand the modern business?

Did you know that even though the federal government had to bail out the banks in 2008, a ton of CEOs got huge bonuses still... and RAISES? And the federal government let them. You don't have shit for power in getting rich. It is a brass ring many people will never get, because capitalism is set in a way that it takes money to make money.

CEOs of bailed-out regional banks get raises - Reuters

CEO's are not hourly or salary employees. They are contract employees. Let me give you some comparisons:

A professional baseball team hires a star pitcher. Based on his history, he can not only help put that team in the playoffs, but win the championship and perhaps the world series. But what if that pitcher is having a bad year after hire? He still makes the contract amount.

A rock or country band is renown for selling recordings and selling out appearances. So a recording company signs a contract for 20 million dollars for their next recording that ends up being a flop. That band still gets the 20 million regardless of their performance.

Unlike salary or hourly employees, contract employees are guaranteed a set amount of money regardless of performance. The bet is that the employee will continue that outstanding record.

But what about the employees? Okay, what does a bat boy make? What do roadies make that haul all that equipment to concerts? I knew one years ago, it isn't very much. How about the joke writers for a show, or hair styalists? Wha about the guy who sells beer at football games or cleans the stands after the game? How about the parking lot attendant?

Sharing the wealth is a myth. It doesn't apply to business, and it doesn't apply to any other field. Now as for getting rich, tell me how many attempts have you tried?

You are missing the point as usual. CEOs have sooo much control. Most can basically name the value of their stock... and know when to sell it to make a ton of money... and then wait for the next tax break to buy it back cheaper, rinse and repeat.

CEO's don't buy stock because of tax breaks. No company does. They've always had all the money they needed to buy their stock and anybody else's stock they wanted.

 

[Harpy Eagle]

I suppose you’re right, but she does appear intelligent and is most anti-war even though she served during the Iraq War.

As far as I know she was a medic in the war. I see no hypocrisy over anti-war war medics.

I'm not questioning her positions on any issue. I'm questioning her credibility as a candidate, given that I've never heard of her until today.

Is it her fault you are an ignorant partisan sheep?


Sent from my iPhone using USMessageBoard.com

You’re partisan...to yourself.

You are correct. I am loyal to myself and my country. While you people only care about your party.

Thanks for pointing that out

 

[Harpy Eagle]

That's very debatable. She may have some leadership skills, but Trump owned or operated over 500 businesses in his life, and during that time, rubbed elbows with many a politician.

Nesting tons of LLCs into each other, and simply owning multiple projects (most of which end up making little to no money) does not constitute running 500 businesses. The single biggest success story Donald ever had in business was licensing his name.

Need the Factcheck link? Yes, Trump ran or owned over 500 businesses. You don't become a billionaire nesting tons of LLC's.

That is exactly how he became a billionaire, he turned his company into a holding company and stopped making day to day business decisions.

 

[Stormy Daniels]

Money in this country is infinite.

Oh, how fucking stupid.

 

[Indeependent]

I suppose you’re right, but she does appear intelligent and is most anti-war even though she served during the Iraq War.

As far as I know she was a medic in the war. I see no hypocrisy over anti-war war medics.

I'm not questioning her positions on any issue. I'm questioning her credibility as a candidate, given that I've never heard of her until today.

Is it her fault you are an ignorant partisan sheep?


Sent from my iPhone using USMessageBoard.com

You’re partisan...to yourself.

You are correct. I am loyal to myself and my country. While you people only care about your party.

Thanks for pointing that out

You are loyal to yourself.
How do you define your “country”?
Certainly not by giving a hoot about other people.
Military?

 

[Harpy Eagle]

As far as I know she was a medic in the war. I see no hypocrisy over anti-war war medics.

I'm not questioning her positions on any issue. I'm questioning her credibility as a candidate, given that I've never heard of her until today.

Is it her fault you are an ignorant partisan sheep?


Sent from my iPhone using USMessageBoard.com

You’re partisan...to yourself.

You are correct. I am loyal to myself and my country. While you people only care about your party.

Thanks for pointing that out

You are loyal to yourself.
How do you define your “country”?
Certainly not by giving a hoot about other people.
Military?

My country is the United States of America, the country I served for 20 years.

I certainly do give a hoot about other people, just not whiny people that refuse to do anything to better themselves.

 

[Indeependent]

I'm not questioning her positions on any issue. I'm questioning her credibility as a candidate, given that I've never heard of her until today.

Is it her fault you are an ignorant partisan sheep?


Sent from my iPhone using USMessageBoard.com

You’re partisan...to yourself.

You are correct. I am loyal to myself and my country. While you people only care about your party.

Thanks for pointing that out

You are loyal to yourself.
How do you define your “country”?
Certainly not by giving a hoot about other people.
Military?

My country is the United States of America, the country I served for 20 years.

I certainly do give a hoot about other people, just not whiny people that refuse to do anything to better themselves.

Nobody gives a shit that you served.
I know dozens of people who served who don’t share your life POV.

You have already stated quite explicitly that you care about no one but yourself.

I suggest you start posting ideas as opposed to boring ad hominems.

 

[Claudette]

She was in the House for a couple years, but decided not to run for reelection because she volunteered to serve in Iraq instead.

That's not enough, unless she was a general who lead our nation to victory, i.e. Washington, Grant, Eisenhower.

She's hot. That's all that's needed; especially in the Democrat party. Appearance is priority.

LMAO To bad nobody told Nadler that.

Jaba the Hut to be sure.

 

[Harpy Eagle]

Nobody gives a shit that you served.
I know dozens of people who served who don’t share your life POV.

You have already stated quite explicitly that you care about no one but yourself.

I suggest you start posting ideas as opposed to boring ad hominems.

You are the one that asked about my country, I answered.

Here is an idea....do not be a bitter old man because you lost your job to a better candidate. I have no sympathy for people always looking for pity.

 

[Natural Citizen]

I had to look her up.

Turns out she's been a Congresswoman of Hawaii's 2nd district for six years.

That's not much of an accomplishment.

She should wait until she's accomplished something before she runs for President.

Relevant reading....

Ron Paul Says Tulsi Gabbard is “The Best Chance for Peace.

I tend to agree with the statesman.

 

[Indeependent]

Nobody gives a shit that you served.
I know dozens of people who served who don’t share your life POV.

You have already stated quite explicitly that you care about no one but yourself.

I suggest you start posting ideas as opposed to boring ad hominems.

You are the one that asked about my country, I answered.

Here is an idea....do not be a bitter old man because you lost your job to a better candidate. I have no sympathy for people always looking for pity.

I have already informed your dementia infected brain that I am doing quite well.
Do not be a snob because you think the existence of rules is below you.