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snot

(11,889 posts)

24. The point is, we DID increase production.

Reply to dkf (Reply #6)

Sat Jun 1, 2013, 08:26 AM

Jun 2013

GNP has skyrocketed since 1970; but the wealth we created has been scraped off by the 1%.

In order for wage earners to receive more, prices need not be higher; but net income of the 1% would be less. (Note, I'm not just talking CEO salaries, but the whole slew of strategies used to milk cash from our economy, from tax minimization to the bailing out of speculators in unproductive derivatives.)

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ROBERT REICH:If the median wage had kept up with the overall economy, it would be over $90,000 today [View all] kpete May 2013 OP

K & R !!! WillyT May 2013 #1

This is by design nadinbrzezinski May 2013 #2

Allow me to Pile On. bvar22 May 2013 #3

Rec this post and some telling charts - HughBeaumont May 2013 #10

Let me add to that an illustration of where the brackets fell: JHB May 2013 #19

Allow me to ProSense May 2013 #11

What would prices be to support the $90k Walmart employee? dkf May 2013 #4

How many Walmart employees are paid enough to be near the median? JHB May 2013 #5

If they all got paid $90k as a minimum wage how much would a can of coke cost? dkf May 2013 #6

I just bought 2 8-packs for $5 n2doc May 2013 #7

MEDIAN wage, not MINIMUM wage MNBrewer May 2013 #8

Please stop with the facts! HangOnKids May 2013 #15

I know... Liberal bias... MNBrewer May 2013 #16

And who was talking about a $90k minimum wage? JHB May 2013 #18

The point is, we DID increase production. snot Jun 2013 #24

Red herring....nobody expects WalMart employees to make median wage... Wounded Bear May 2013 #9

No one is saying Wal-mart employees should get $90K. But $17K is not a living wage. SunSeeker May 2013 #14

That's the talking point they used to justify slavery. Spitfire of ATJ May 2013 #21

probably the same, but the WALTONS would not be worth as much Skittles May 2013 #22

I'd add this. Initech May 2013 #12

K & R & Bookmarked! SunSeeker May 2013 #13

Why do you think smallcat88 May 2013 #17

kr HiPointDem May 2013 #20

K&R'd! snot Jun 2013 #23