Employees put in frequent 10-hour days to meet their bosses' demands, and often work remotely from home on nights and weekends. With productivity continually climbing, corporate profits have soared to all-time highs; the stock market gained more than $6 trillion in value in 2013. Yet Americans' real disposable income went up a mere 0.7 percent the same year. What happened to the workers' raises? Don't ask
The implicit contract that created America's postwar economic boom — in which loyal, productive employees got big raises when the company enjoyed big profits — has given way to a new ethos. Nearly all profits go to executives and stockholders; workers get tiny raises at most, along with a cut in benefits
It was in the 1970s and '80s, when American business "abandoned its earlier stakeholder model," in which workers were valued partners. In the current "shareholder model," the only goal is to maximize profits and stock value. Until corporations get consciences or workers get more leverage, the income gap will keep widening. Got that? Now stop whining, you ingrates, and get back to work.
yes!..it's a great way of giving the poor people a boost.The White House Council of Economic Advisers estimates more than 28 million workers would benefit from the minimum wage increase; 19 million of them would benefit directly and the ripple effect from a shifting wage structure would help the rest. CEA calculations show raising the minimum wage would boost incomes for about 12 million people in poverty, and would lift 2 million out of poverty. This applies to a minimum-wage worker working full time, supporting a family of four and receiving tax credits. This does not take into account any public-assistance programs.
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