Low unemployment isn’t worth much if the jobs barely pay

according to a report by JP Morgan the decline in avg hrly wage, in 2019, is attributable to

• young workers replacing old workers (higher pay)
• increases in service jobs while mfg jobs (higher pay) have been outsourced
• lack of bargaining power on the part of the workers;
  • workers can'f afford to travel to where higher paying jobs are, so they take whatever jobs are available locally

 

I think there does need to be more wage growth, but it hasn't been zero. A lot of people are WAY better off than they were even a few years ago, and if you want a job, there's one for you. People with even slightly above average skill sets are really killing it too.

I think there is a generation of workers that entered the workforce AFTER the recession in 2009/10 that have yet to see a "bad" economy. I think it is going to be a shock to some how bad it can actually get when we truly hit a real recession or downturn. Multiple investment gurus are now calling the biggest threat to the economy in 2020/21 is a Sanders or Warren win, not just for the "rich" but for everyone.

The other thing about this economy: Baby Boomers are FINALLY retiring. High wage older workers are leaving the workforce about 10 years late due to the recession in 2009/10, but are leaving in high numbers now. If a 65-70 year old retires and you fill them with someone in their 20s or 30s, their salary is going to be lower.

I've seen it in my own company, lots of opportunity for mid career folks to make the jump to exec positions as the old folks are finally leaving.

 

I can not see that these Trump voters sticking with him in 2020. Their lives are likely not materially better than in 2016. Their job prospects are also likely not better, which was their major motivation for voting Trump.

Trump has hurt them in their pocketbooks with his trade war with China. Trump trying to get rid of ObamaCare works against their self interest.

 

Never underestimate the cult of personality - lots of voters vote for him to spread their misery to others.

DD

 

The amount of people who support communism in America is obscure, sure there are a very small group of people who support communism, just like there are a very small group of people who worship the devil, on a macro scale these people are virtually non existent in the US.

Your framing of their being “plenty” of people in America who want communism is a gross misrepresentation (or a lie), how exactly relevant is the communist party today?

I don’t reply over past conversations, the misrepresentation of asserting that communism is a prominent and widely supported government style in the US is just so ridiculous (communism is a curse word, akin to devil worship in this country) that I replied, like many of your post are, that’s why I reply a lot. I reset every time I log off and on, honest no anger lol, but I don’t forget that you constantly post awful propaganda.

 

In the case of France, it gives people time to riot. Watch out, Finland!

Personally, I think it needs to be a combination of reduction in standard hours plus tariffs on non-American labor content and/or phasing out deductibility of non-American labor expenses (similar to limits on deductibility of golden parachute payments). In time, we'll need to worry about AI taxes too. Though I'm not sure giving more tax dollars to the government is the right answer regardless of the question.

Speaking of taxes, let's make military spending paid for by corporate income taxes and capital gains taxes rather than personal income taxes because, let's face it, the military is there mainly to protect the rich anyway, and the working grunts get drafted for war while corporations, fat cats and bone spur patients don't (or are they all one and the same...hmmm...). Let the military-industrial complex duke it out rather than both of them profiting off of the people. This ensures that taxes collected from the people are spent on the people.

And gimme back my full SALT deductions damnit!

 

I think there is a perception by some on the right that the new radical socialist movement is a watered down form of communism without the military uniforms. Conversely, the left might see the evangelicals or tea partiers as fascists.

Again, someone tell me why did Bernie honeymoon in Russia?......I'M JUST KIDDING FOLKS!! Cheap shot that I couldn't resist.

 

Bargaining power comes from demand and scarcity controls that demand.... and that is changing as evidenced below. The next step is to further limit the h1b1 so that not just low wage jobs see increases... so that high-skilled jobs also see raises in pay.

https://www.nytimes.com/2020/01/10/business/economy/december-jobs-report.html
The labor squeeze has helped workers at the lowest end of the pay scale, giving their wages a push that exceeds the average increase. Minimum-wage increases across 21 states and 26 cities and counties this year could further help pull up paychecks at the bottom.

 

The word plenty is subjective and open to your and my interpretation. It doesn't really do any good to debate that word. Maybe just be less of a dick if you disagree.

Now I will say that I think communism is hard to pin down because not everyone carries a card in the party and not everyone even knows they are Marxists these days. Many don't understand the ideas they support and why, which is why usually people of lower intelligence and skill support such policy. I would say that also it doesn't help that whenever you want to discuss communism, people just say real communism has never been tried, and that real communism is never the same because there different types of commies. I would say that in my opinion that the number of communists is plenty high, and I would extend that to extreme Marxists and socialists who call for communism in everything but the name.

 

As I suspected you come back saying that there are communist supporters who sneakily claim to support socialism as a guise or out of pure stupidity, while pulling the subjective card on the word plenty, in an attempt to excuse your attempt to try to say communism is widely supported by Americans, which both we, and everybody else knows is downright silly. Americans don't like communism.

I suspect your chain of communism ='s socialism likely flows into "democratic" socialism in your mind (Bernie term), or social democracy (the term I personally support) and perhaps even just individual social programs (public healthcare, public education, welfare) at this point, we have "plenty" of Americans who support communism in your mind, correct?

Also, the boldened part is not specific to any part of the political spectrum (or politics), and if anything, is usually concentrated within mainstream politics. I dare you to go out this weekend to the mall or something, and just start asking random people what type of government system they support, come back and tell me the number of people who could explain that they want a complete abolishment of the privatization of production & property, a classless, moneyless and stateless communal society. I'd be willing to bargain you wouldn't find a single person in support of communism or pure socialism.

In all of my life, I've never met a single person who supported communism, the only people I've naturally (due to my personal interest) come across who I could even imagine being aware of and potentially interested in living in such a system are hippies who live in communities, these are usually done with extremely small groups of people and rely heavily on the market.

Spoiler: my peeps

Looks like your everyday Americans right? "Plenty" of these people. (and to be clear I like these people, but they aren't normal or plentiful)

What "plenty" of people want for the US, is capitalism with common-sense rules & regulations (we're lacking), combined with extensive social programs & welfare system (we're lacking again). A mixed economy done right if you will. If done correctly this can prevent massive income inequality without stunting a countries development, as seen on TV in highly developed countries like Norway, Iceland, Sweden, Denmark, and Finland, and even poorer (but still highly developed) countries like Slovenia and Czechia.

 

Luckily the past two years have seen wages grow thanks to minimum wage hikes, a tighter job market and job growth in higher paying industries.

https://www.nytimes.com/2019/05/02/business/economy/wage-growth-economy.html

Thank you for this.
I think most people on the right and left fail to realize that these successful countries utilize a mix of free-market economies and social programs. Finland use a high free market economy to fund their welfare state. While the left would be shocked that Finlands great school system uses vouchers and the pension system is partially privatized, the Right would be shocked that their "socialized" health care system is one of the best in the world and is by far superior to U.S. for-profit healthcare.

 

Thank goodness Republicans support an increase in minimum wage.