General Discussion
In reply to the discussion: No, American teachers don't get paid too much [View all]bhikkhu
(10,789 posts)...and in any case the president's policies are working, and we have added 500,000 new manufacturing jobs in the last three years.
That we can't compete is a myth, commonly used to suppress wages. I don't buy it.
That the trade deficit is killing our economy is also a myth - it has been more or less steady at 3% of GDP for years, a small amount which is more than made up for by foreign investment here. A larger problem: in the same period health care costs have risen from 5% of GDP to 15%, swallowing 10% more of our economy than it does in most other countries, for less services per capita.
The primary factor for wage stagnation here is income inequality between the wealthy owners (taking record corporate profits) and the "executive class" taking massive salaries and bonuses. There are no foreigners to blame for the difference between our CEO's pay and the floor workers, and the US is one of the worst in pay differentials.
I can't even imagine a perspective that would shift the burden of responsibility for our poorly paid workers from the wealthy here to workers in other countries. Xenophobia has always been a popular tool of fascism? Labor can be broken by getting regular people to hate one another? If you can get a people to hate, they'll accept most anything?