Wednesday, February 19, 2014

"The Middle Class anchored to the Bottom!" (the new) "What Now Cartoon"

In 1974 the steady rise of American workers wages that had been underway since the end of WWII. Twenty five years of prosperity suddenly came to a screeching hault.  No one realized it then, but that was just the beginning of a 40 year slump that sadly is still underway.  Globalization, the decline of unions, consolidation leading to an age of monopolies we have not seen since 1929 have contributed to this Middle Class decline.  At the same time the fortunes of the 15 have taken a sharply different upward turn. Are the forces of Globalization inevitably going to raise the incomes of the few and depress the incomes of the many?
We need a new vibrant Union Movement, before it's too late.

Saturday, February 1, 2014

The Minimum Wage would be $21.72  if it had kept up with productivity. 
 If it kept up with the rise of the 1%'s income rise, it would be $25.18!  
 If it had only kept up with inflation, the wage should be at  $10.52 today.
In the years between WWII and 1968, productivity and wages grew together
 at a steady pace.  Since its peak  in 1968 the minimum wage has fallen behind.