Politics > Politics-USA > Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5%
| Topic: |
Politics > Politics-USA |
| User: |
"OutsourceBush2004" |
| Date: |
04 Apr 2004 01:06:17 PM |
| Object: |
Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5% |
One of the most remarkable aspects of the current downturn is that total
wage and salary income (inflation adjusted) has not risen at all in the last
three years. Moreover, the total wages and salaries generated by the private
sector have actually fallen by 1.7%. Meanwhile, domestic profits grew by
57.5%. In other recent downturns total wages and profits grew in tandem,
with total wage and salary income up by 3.7% over a comparable three-year
period and domestic profits up by 12.6%.
http://www.jobwatch.org/
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Most US workers saw their earnings fall or stagnate last year, with those at
the bottom of the income scale hit hardest.
The trend, coming alongside a slack job market, explains why many Americans
feel left out of the economic recovery - and why President Bush faces a
tough sell with his campaign-trail message that there is "good strong
growth." Democratic rivals point to "two Americas," one for the rich, one
for the poor.
http://www.csmonitor.com/2004/0211/p03s01-usec.html
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| User: "Stop The War" |
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| Title: Re: Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5% |
04 Apr 2004 01:28:51 PM |
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"OutsourceBush2004" <outsourcebush@whitehouse.gov> wrote in message news:149c4b9b6913fe4cff464eda76eb5da5@news.teranews.com...
One of the most remarkable aspects of the current downturn is that total
wage and salary income (inflation adjusted) has not risen at all in the last
three years. Moreover, the total wages and salaries generated by the private
sector have actually fallen by 1.7%.
Hey, the news isn't all bad. The government sector of the
economy is skyrocketing, ;-)
"Since President Bush took office, the federal government's domestic
civilian workforce has increased by more than 79,000 jobs, nearly
a 5 percent increase. And the number of government workers paid
at least $130,000 annually has tripled."
<http://www.myinky.com/ecp/gleaner_news/article/0,1626,ECP_4476_2600902,00.html>
"Conservatives wait warily as President Bush makes final decisions
about his election-year budget, three years into an administration
on whose watch spending has mushroomed by 23.7 percent, the
fastest pace in a decade."
<http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/01/05/national1438EST0603.DTL>
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| User: "basilod" |
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| Title: Re: Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5% |
04 Apr 2004 02:17:01 PM |
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Hey, "OutsourceBush2004," I like your tone but please change the spelling in
your newsgroups list: it is alt.politics.usa.republican, not "republicans")
"OutsourceBush2004" <outsourcebush@whitehouse.gov> wrote in message
news:149c4b9b6913fe4cff464eda76eb5da5@news.teranews.com...
One of the most remarkable aspects of the current downturn is that total
wage and salary income (inflation adjusted) has not risen at all in the
last
three years. Moreover, the total wages and salaries generated by the
private
sector have actually fallen by 1.7%. Meanwhile, domestic profits grew by
57.5%. In other recent downturns total wages and profits grew in tandem,
with total wage and salary income up by 3.7% over a comparable three-year
period and domestic profits up by 12.6%.
http://www.jobwatch.org/
To find the explanation (at least partial) of this scewed growth look at the
structure of the tax cuts: they are scewed toward those who live on
profits, not towards those who live on wages.
--
Most US workers saw their earnings fall or stagnate last year, with those
at
the bottom of the income scale hit hardest.
The trend, coming alongside a slack job market, explains why many
Americans
feel left out of the economic recovery - and why President Bush faces a
tough sell with his campaign-trail message that there is "good strong
growth." Democratic rivals point to "two Americas," one for the rich, one
for the poor.
http://www.csmonitor.com/2004/0211/p03s01-usec.html
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| User: "GW Chimpzilla" |
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| Title: Re: Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5% |
04 Apr 2004 01:45:29 PM |
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OutsourceBush2004 wrote:
One of the most remarkable aspects of the current downturn is that total
wage and salary income (inflation adjusted) has not risen at all in the last
three years. Moreover, the total wages and salaries generated by the private
sector have actually fallen by 1.7%. Meanwhile, domestic profits grew by
57.5%. In other recent downturns total wages and profits grew in tandem,
with total wage and salary income up by 3.7% over a comparable three-year
period and domestic profits up by 12.6%.
http://www.jobwatch.org/
This doesn't even factor in the huge pay cut that working people get when the
dollar falls, as it has against the Euro and the Yen. The price of all
commodities has skyrocketed, except for Europeans and Japanese.
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| User: "Bob" |
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| Title: Re: Wage and salary income has fallen 1.7% in the last three years. Domestic profits up by 57.5% |
04 Apr 2004 02:49:05 PM |
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"GW Chimpzilla" <patriot-for-cash@hotmail.com> wrote in message
news:cJYbc.185770$po.996932@attbi_s52...
This doesn't even factor in the huge pay cut that working people get when the
dollar falls, as it has against the Euro and the Yen. The price of all
commodities has skyrocketed, except for Europeans and Japanese.
Isn't this the type of "fair trade" that you favor?
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