The real problem that this country is facing is the interference of the Federal, state and local governments with what should be a private contract between the employee and the business.
You will never be paid less than what you are willing to accept and you will never be paid more that what it costs to replace you.
Was Commiecare™ mentioned? I must've missed it.
Sums up why, despite all of the EXCELLENT classical economic analysis transpiring on these threads....fighting this is a losing political battle, all the way round.
“Real Wages Lower than 1968” + “McDonalds Doubles Profit in 5 Years” = “Living Wage Legislation and Lots of Dems Getting Elected”.
A worker in the U.S. who cannot compete on some level with a slave laborer on the other side of the world needs to find something else to do.
Coincidentally we lowered the import tariffs in the 1960’s to just 1%.
I say coincidentally because we won’t stop at a pair back of real wages to the 1968 level. We’re going to keep reducing the real wage in this country until either we raise the import tariffs or our real wages matches the Chinese.
Coincidentally we lowered the import tariffs in the 1960’s to just 1%.
I say coincidentally because we won’t stop at a pair back of real wages to the 1968 level. We’re going to keep reducing the real wage in this country until either we raise the import tariffs or our real wages matches the Chinese.
Apples to oranges. Many of those 40% are students or moms working part time jobs.
No wonder food stamps are exploding.
Excellent article
how’s that change working for you, liberals?
“Foreign domination was kept out, and our economy thrived.”
The real problem is the red tape and regulation. Things like the EPA, highest corporate taxes in the G20, etc. Those things are what makes Americans uncompetitive.
Erecting up a tariff wall will eliminate American jobs in exportation (yes, the exist), and while a short-term stopgap, will cripple American industries in the long term.
Tariffs work, if, and only if, America has the ability to invest, if Americans can actually ensure that their pay (and all of their pay), goes to the worker. Right now, about half of American earnings goes to the government. This was not the case in the late 19th and early 20th century where America boomed.
Today, it would simply be the nail in the coffin for American industries.
And how is the Federal Government doing compared to 1968? Yep, thought so.
I got it! Let’s give amnesty to millions of illegals who will work for less.
Let’s look at the $1.60 mimimun wage in these terms. That was 1.6 X .72 oz of well worn silver. At today’s prices, that means about $23 in silver—slightly more if the coins aren’t worn down.