American workers are taking home the smallest slice of the economic pie in history. One year into the Trump admin, the economic consequences are as clear as day: four out of five working class people are suffering while the top 1% capture a greater slice of the pie than they ever have.
https://i.redd.it/a5xk3awm4kdg1.png
Posted by Conscious-Quarter423
9 Comments
That’s what happens when your economic policies devalue the USD worldwide while workers are being paid in that devaluing currency. Asset prices rise relative to USD while the USD buying power decreases.
Voting harder for the oligarch-captured uniparty will surely fix this.
They got what they voted for:
* **Working-Class Voters Without College Degrees**: Trump received 56% of their votes, while his opponent, Kamala Harris, garnered 42%.
* **White Working-Class Voters**: Trump achieved an even higher percentage, winning 66% of this demographic against Harris’s 32%.
Source: [https://www.brookings.edu/articles/the-4-working-class-votes/](https://www.brookings.edu/articles/the-4-working-class-votes/)
Worth noting that the labor share dropped primarily because GDP went up. (The metric is essentially worker compensation divided by GDP, and compensation was flat.)
So to believe this figure, you also have to believe the recent GDP estimates.
and it will continue!!! Because its not undocumented immigrants that will steal jobs…
IT WILL BE THE DIGITAL (AI) IMMIGRANTS THAT WILL – ALONG WITH THEIR FELLOW ROBOTS!!!
American workers are taking home the smallest slice of the economic pie in history.
The effects of constant Wage Stagnation & price inflation for decades in one sentence.
The American dream is officially done.
I wager most Trump voters will go to their graves, poorer than ever, but still clinging to their orange one.
Second gilded age
This is because we have been living in an unabated globalized world. This is both good and bad. But we are not manufacturing or producing here in the US outside of tech companies, and we are lucky to be the financial capital of the world.
Countries that are more business friendly have more businesses, and the people make more money. Ireland lowered corporate tax rates and they have 10% gdp growth, low unemployment, higher wages, housing market on fire, and even budget surpluses. The evidence is all around us look at Switzerland also, Singapore, South Korea, Panama compared to its peers..
Spain has 25% youth unemployment, Germany has negative gdp growth, Greece went bankrupt, France has unsustainable entitlement spending and needs to raise the retirement age. Europeans make 25k median household income / US 82k. Tech makes up 7% of Europes stock market, it makes up 37% of the US stock market. Common saying is Europe regulates the US innovates. Startups come to the US, 75% of venture capital in the world is here, drug discovery happens in the US 44% (before 57%) and we make up 4% of the world’s population.
The government is inherently inefficient, bureaucratic, regulatory, bloated, corrupt. You can’t just give people free things they will become dependent on it not work/work less/refuse wage increases this is not productive for an economy. NGOs take government money and pay six figure salaries to the employees while a fraction goes to those in need. More regulations, higher taxes… drive up costs for businesses and makes them flee in a globalized world we are living in. Companies report their earnings every 3 months (revenue, profits…) and they are judged harshly by it and it affects their access to capital… they will act in their own best interest and we should want it that way. Government printing money increases inflation for the poor, and drives up asset prices for the rich…