Wages for the top 1% skyrocketed 160% since 1979 while the share of wages for the bottom 90% shrunk

[RandomGuy]

Just for the inevitable fascist defense of the hyper-wealthy as being "job creators" instead of the leeches the data says they are.

-----------------------------------------------------------------------------------------------------------

Newly available wage data tell a familiar story: In every period since 1979, wages for the bottom 90% were continuously redistributed upward to the top 10% and frequently to the very highest 1.0% and 0.1%.

For last year, 2019, the data show a continuation, with annual wages rising fastest for those in the top 10% while those in the bottom 90% saw below-average wage growth.

https://www.epi.org/blog/wages-for-the-top-1-skyrocketed-160-since-1979-while-the-share-of-wages-for-the-bottom-90-shrunk-time-to-remake-wage-pattern-with-economic-policies-that-generate-robust-wage-growth-for-vast-majority/

[Winehole23]

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ia0aso1fR4A0/v0/1200x1140.png

[spurraider21]

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ia0aso1fR4A0/v0/1200x1140.png
marx's theory of crisis at play...


"In Marx's system, as in Mill's the falling rate of profit is a long-run tendency precisely because of the "counteracting influences at work which thwart and annul the effects of this general law, leaving to it merely the character of a tendency."[47] (https://en.wikipedia.org/wiki/Crisis_theory#cite_note-47) These counteracting forces are as follows:[48] (https://en.wikipedia.org/wiki/Crisis_theory#cite_note-48) (1) An increase in the intensity of exploitation (via intensification of labor or the extension of the working day); (2) Depression of wages below their value ... ; (3) Cheapening of the elements of constant capital (via increased productivity); (4) Relative overproduction (which keeps many workers employed in relatively backward industries, such as luxury goods, where the organic composition of capital is low); (5) Foreign trade (which offers cheaper commodities and more profitable channels of investment); and (6) The increase of "stock capital" (interest bearing capital, whose low rate of return is not averaged with others).

https://en.wikipedia.org/wiki/Crisis_theory

[Winehole23]

Exploitation and labor arbitrage, two old materialist themes.

Contra Marx, I doubt crises inevitably lead to revolutions or new modes of production, unless civilizational collapse counts as a new mode of production.

[Spurtacular]

This is what you wanted, Chumpettes.
Patriots told you to no shut sh** down and spit on the Constitution.

[spurraider21]

Exploitation and labor arbitrage, two old materialist themes.

Contra Marx, I doubt crises inevitably lead to revolutions or new modes of production, unless civilizational collapse counts as a new mode of production.
Marx was pretty spot on descriptively, hasnt been demonstrated to be on the nose prescriptively

[Winehole23]

This is what you wanted, Chumpettes.
Patriots told you to no shut sh** down and spit on the Constitution.non-sequitur

[RandomGuy]

This is what you wanted, Chumpettes.
Patriots told you to no shut sh** down and spit on the Constitution.

Shhh. Grown-ups are talking.

[FuzzyLumpkins]

Marx was pretty spot on descriptively, hasnt been demonstrated to be on the nose prescriptively

I think it's more apt to say that Marx was correct on many of the economic mechanisms that he described where he was completely off was in terms of the social reaction to that.

[spurraider21]

:lol

https://pbs.twimg.com/media/EoXYXVCXYAArdr7?format=jpg&name=large

[RandomGuy]

I think it's more apt to say that Marx was correct on many of the economic mechanisms that he described where he was completely off was in terms of the social reaction to that.

:tu

I don't see a way out of it, given the right wing will fight any redistribution or cessation of exploitation tooth and nail.

By the by, a good series:
E4CI2vk3ugk

You may find the whole series useful. I think he has it pretty well pegged here. Dude seems to have done his research (in the much more traditional, "read a ton of books" sense)

[FrostKing]

Cheap labor

Biden promises to nationalize tens of Millions more and a steady flow of refugees from the 3rd World

[boutons_deux]

the separation started here

Revenue Act of 1964
https://en.wikipedia.org/wiki/Revenue_Act_of_1964

btw, in 1960 US poverty rate was 30%, after 15 post-war boom years.

[RandomGuy]

Cheap labor

Biden promises to nationalize tens of Millions more and a steady flow of refugees from the 3rd World

(a post that proves out the central theory of the youtube thesis immediately above it)

:lol

Thanks man.

[Spurtacular]

:lol

https://pbs.twimg.com/media/EoXYXVCXYAArdr7?format=jpg&name=large


Communism will work if we just give it a good faith effort! :lol

Props on finding the parody counter.

[FuzzyLumpkins]

:tu

I don't see a way out of it, given the right wing will fight any redistribution or cessation of exploitation tooth and nail.

By the by, a good series:
E4CI2vk3ugk

You may find the whole series useful. I think he has it pretty well pegged here. Dude seems to have done his research (in the much more traditional, "read a ton of books" sense)

Are you really trying to say that rise the proletariat is going to happen after over 100 years of proof to the contrary?

[RandomGuy]

Are you really trying to say that rise the proletariat is going to happen after over 100 years of proof to the contrary?

Nope.

I am saying the right will fight any higher taxes on the rich that would go towards things that benefit most people, like single payor.

as for the youtube video:

Just an interesting analysis on the philosophical origins of modern "conservatism". short take: pro-monarchist ideas from the 17-18th century

[FuzzyLumpkins]

Nope.

I am saying the right will fight any higher taxes on the rich that would go towards things that benefit most people, like single payor.

as for the youtube video:

Just an interesting analysis on the philosophical origins of modern "conservatism". short take: pro-monarchist ideas from the 17-18th century

Oh I figured all that out reading about how the Orangists in Holland would combat with the liberals in that time.

Basically you could take modern day GOP types and replace them with the old royalists and it would be pretty much the same ideology

I've also been fascinated by how the church operates within this given their old reliance on the divine right of kings. Today there is this notion that you're rich because God wills it and your poor for the same reason.

[phxspurfan]

:lol

https://pbs.twimg.com/media/EoXYXVCXYAArdr7?format=jpg&name=large

I don't understand what the eagle is doing. Is he free or wut. And shouldn't he have an AR-15 in his hands, a can of Miller Lite in the other and be driving an F-150 with his little elbow out the window

[spurraider21]

Communism will work if we just give it a good faith effort! :lol

Props on finding the parody counter.
as ive stated many times... im still in favor of capitalism, but you need to broaden the safety net substantially, and yes thats going to come from the rich paying their fair share

its the accumulation of wealth to a tiny minority while the masses struggle thats the problem. im all for correcting that within the framework of capitalism. your'e just not for correcting it at all

[FuzzyLumpkins]

as ive stated many times... im still in favor of capitalism, but you need to broaden the safety net substantially, and yes thats going to come from the rich paying their fair share

Derp it's pretty obviously disingenuous and everything that he says but generally speaking trying to get an economic purist to try to understand anything more nuanced is a futile effort

[DMC]

poor people problems

[Ef-man]

https://media.giphy.com/media/MdvRxYo6xaFZHqREUy/giphy.gif

[boutons_deux]

If Labor's revenue had kept up, median household income with be a little over $100K / year.

The poverty, financial stress and precarity on Labor is a not a natural, inevitable occurrence, but strategically forced by the oligarchy, as the USA Word Champion Inequality does not exist in social democracies.

But God, Guns, Gays, Abortion, Racism, owning the libs are more important than self interest

[RandomGuy]

If Labor's revenue had kept up, median household income with be a little over $100K / year.

The poverty, financial stress and precarity on Labor is a not a natural, inevitable occurrence, but strategically forced by the oligarchy, as the USA Word Champion Inequality does not exist in social democracies.

But God, Guns, Gays, Abortion, Racism, owning the libs are more important than self interest

This.

[Winehole23]

Factoid:

1335068846470778883

[tholdren]

Factoid:

1335068846470778883

Fact... presidents have nothing to do with this

[Winehole23]

Trickle down never worked

[FrostKing]

"Biden promises to take a starkly different approach from his predecessor: to "set the annual global refugee admissions cap to 125,000, and seek to raise it over time."

Back to rescuing the World. How does this help Americans?

[ElNono]

"Biden promises to take a starkly different approach from his predecessor: to "set the annual global refugee admissions cap to 125,000, and seek to raise it over time."

Back to rescuing the World. How does this help Americans?

America rescued you, why start complaining now?

[spurraider21]

"Biden promises to take a starkly different approach from his predecessor: to "set the annual global refugee admissions cap to 125,000, and seek to raise it over time."

Back to rescuing the World. How does this help Americans?
grows the economy

[SnakeBoy]

grows the economy

for the wealthy

[hater]

Eat the rich

[spurraider21]

for the wealthy
also decreases cost of goods for people, which helps even lower earners. there's a small subset of people (most predominately high school dropouts) who see slight depression in wages but that is to a large degree offset by decreased cost.

thats also why its important to continue taxing wealthy as economy grows to create a broader safety net for those people.

[FrostKing]

"We need more food at our table"

Also

"Here are more hungry people joining the table"

[FrostKing]

Eat the rich
During your noble pursuit, they tricked you into making a left turn to targeting the "privileged" working class whites.

[hater]

During your noble pursuit, they tricked you into making a left turn at targeting the "privileged" working class whites.

I dont give a fuck about race

Eat the rich no matter what color the rich pig is

[DMC]

I dont give a fuck about race

Eat the rich no matter what color the rich pig is

To some you could be the rich

[CosmicCowboy]

What is rich?

[DMC]

So since 1979 OP's wages haven't increased more than 160%

[Millennial_Messiah]

Factoid:

1335068846470778883

And 16/18 of them vote and donate to the Democratic Party

[RandomGuy]

What is rich?

Top 200 families in the country. The .4%

[DMC]

Top 200 families in the country. The .4%

So 200 families have 1.4m people in them? :lol dets some turrible maths or some big ass families. 7000 in each family.

[RandomGuy]

So 200 families have 1.4m people in them? :lol dets some turrible maths or some big ass families. 7000 in each family.

Apologies.

I was referring to the ordinal ranking by income, not proportional to population, and could have made that a bit more clear.