You guys want to know what the problem is? Well, here it is: According to the Economic Policy Institute during the period between 1979 and 2019 wages for bottom echelon blue collar workers adjusted for inflation only rose by 3.3%. While wages for the top 5% of the work force adjusted for inflation rose 62.3%.. Obviously the money was all going to the top while next to nothing was getting down to the people who actually performed the physical tasks required in order to produce the product and or service and make it available for sale to the public.
No better example of it than Fat Freddy's cobbled together trucking company which like his competitors needs an ocean of cheap labor in order to make his services economically viable. And as long as he had an ocean full of the cheap stuff things went smoothly But, now that the ocean is drying up and fish that remain gets more expensive every day to catch then from our vantage point all we can do is wait and see what happens.
I’m surprised the top % of earners didn’t increase even more, 62% seems kind of low.
it’s no coincidence over the same period of time you listed is when the systematic destruction of the unions took place that really kicked into high gear with the Reagan administration.
Whether you are a fan of unions or not, many many jobs in this country used to employ a union workforce in which wages were generally fair.
Now politicians have actually demonized unions so much that the very people they would help immensely are the ones who are screaming “unions suck” and complain about monthly dues. All the while the top executives laugh all the way to the bank.
