If I remember the numbers correctly, in the late 70s in the US 24% of corporate revenues went into salaries, whilst by 2012, that was down to 7%.
Or putting things differently a little less than 50 years ago, roughly 1/4 of the money people spent ended up as income for workers, whilst by 2012 that was down less than 1/14th.
It’s hardly surprising that people who work for a living (i.e. the vast majority of people) feel a lot poorer now, given that every time they spend $1 and it circulates around in the Economy, 93 cents gets captured by people who live of making money from having money (i.e. from owning investments) and taxes, whilst only 7 cents find their way back to people who work for a living.
Given that taxes for the wealthiest have actually de facto come down since the 70s - thanks to lower top tax rates and the rise of things like tax havens and transnational tax evasion schemes - guess who is getting the extra 17 cents that half a century ago went to workers …
If I remember the numbers correctly, in the late 70s in the US 24% of corporate revenues went into salaries, whilst by 2012, that was down to 7%.
Or putting things differently a little less than 50 years ago, roughly 1/4 of the money people spent ended up as income for workers, whilst by 2012 that was down less than 1/14th.
It’s hardly surprising that people who work for a living (i.e. the vast majority of people) feel a lot poorer now, given that every time they spend $1 and it circulates around in the Economy, 93 cents gets captured by people who live of making money from having money (i.e. from owning investments) and taxes, whilst only 7 cents find their way back to people who work for a living.
Given that taxes for the wealthiest have actually de facto come down since the 70s - thanks to lower top tax rates and the rise of things like tax havens and transnational tax evasion schemes - guess who is getting the extra 17 cents that half a century ago went to workers …
And here we go, asking what seem to be the real questions