Now we have to fix these two charts - Democratic Underground

the_outsider

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Wed Nov-08-06 10:12 PM
Original message

Now we have to fix these two charts

Jobs getting outsourced, stagnant or even falling real (inflation-adjusted) wages and fatter bonuses and bigger stock options for the fat cats. Time to fix some of it.Look how Bushies undid the good work in Clinton's second term.

(source: Russ Winter's great blog at http://wallstreetexaminer.com/blogs/winter/)

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sandnsea

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Wed Nov-08-06 10:17 PM
Response to Original message

1. Thank you!!

That's the exact chart we've needed for 30 years. The only people who benefit from the second chart are the 15% of the country who gain significant income from their investments. The rest of us are being buried to support their wealth.

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pk_du

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Wed Nov-08-06 10:19 PM
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2. I know you can sorta do this mentally but would love to see

that overlayed with "presidencies"...so you can see the last spike in the top (and last dip in the bottom) as the Clinton years for example.

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the_outsider

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Wed Nov-08-06 10:27 PM
Response to Reply #2

3. It will be a bit tricky with the economic lag effect of policies

Edited on Wed Nov-08-06 10:29 PM by the_outsider

and often you will have a divided government, so the interpretation is tricky. But we can clearly see Reaganomics in action over the last 25 years - sharply falling share of wages nicely correspond to sharply rising share of profits. Clinton's second term was a great fighting counter-trend. All the gains we made have been wiped out in last six years.

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Dead_Parrot

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Wed Nov-08-06 10:34 PM
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4. There's a number to fix, too...

$8,592,561,542,263.30

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the_outsider

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Wed Nov-08-06 10:43 PM
Response to Reply #4

5. Very true, but one look at that number will ruin this beautiful day :)

1) Cutting the 'invasion' budget aka defense budget aka transfer of money from taxpayers to oil and defense companies and
2) unrolling the tax cuts for the fat cats will be a decent start

but cutting budget deficits is only a start and the government can only cut so much. We need to cut our trade deficits as well. As a country, we need to produce and export more and consume and import less and that's going to be a challenge on multiple fronts primarily education. And it also ties in to the wage-profit distribution chart. Without incentives and job security, why would labor produce more?

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