Posted on 08/30/2006 6:13:50 AM PDT by governsleastgovernsbest
by Mark Finkelstein
August 30, 2006 - 08:59
The Globe didn't go totally Mel Gibson's 'Passion' on us this morning. But Dan Wasserman's cartoon does show workers being hung by the hands on rising corporate profits. This was the Globe's subtle way of commenting on news it reported yesterday that wages aren't rising as fast as profits. The Globe predictably overlooks the fact pointed out in this Investor's Business Daily article that:
"Most of us aren't paid just in "wages" but in wages and benefits. And when the two are put together, total compensation is up 8.7% since 2003, for an average annual gain of 3.5%.
"Why is this? Wages may not be soaring (up just 0.7% since 2000), but benefits are (13.1%). In other words, we're making more but getting it in the form of tax-free benefits. The Times' [and Globe's] implication — that we are somehow falling behind in the Bush years — is simply not true."
Have another look at the cartoon. Interesting how 'diversity' disappears when portraying corporate meanies!
Boston Globe/NewsBusters class-warfare ping to Today show list.
"Wages Not Rising with Profits"
"Recession to Occur if Oil Hits $100 Barrel"
"Home Loan Demands Near Three Year Low"
"Wealth Gap Rises"
And so on. They MSM is desperately trying to paint a sour picture, in hopes that the electorate will vote with their perceived pocketbooks. For the most part, the stories seem to be of either a speculative nature, or a play on statistics that don't tell the full story. What do you expect from the MSM?
The notion that corporate profits are up, but wages are flat is untrue. As the article points out, benefits are up and therefore compensation is up.
What is especially bothersome is that the cartoon indicates that our wages are FALLING. Anybody had a cut in pay recently?
This also proves something else besides tremendous bias on the part of "The Boston Globe." It proves that reporters know virtually nothing about economics. It also proves that reporters hate anyone who has money or is likely to be paid a decent wage.
Reporters can be such schmucks. I know. I used to be one!
Thank God that chapter of my life is over. Phew!
Yes when they raised the minimum wage my buying power took a hit. In other words I made (x) above minimum wage but now only make (y) above minimum wage.
Well, health care expenses are way up so companies are paying more. But to the worker, that isn't perceived as a wage increase.
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