Johann Wagener 11-7-13
Unlike what the 1% would like us to believe, profits are not "made" in Board Rooms or by slick talkin CEO's.
They just "collect" them and then conveniently forget where they came from; or, if they think someone might get wise to it, promise to let a little "trickle down" if you behave and don't start thinking "unionize" or some other crazy idea like that.
The question; "Where do profits come from?" EZ!
Profits are generated by the people working behind the counter at MacDonald s or the cashier at your local Walmart.
They are commonly referred to as "unskilled" workers. Considered excess baggage or, worse yet, "garbage" that you just recycle every few months because it's so easy to find many more where they came from.
Naive on their part? Yes? Unskilled? Not worth $15.00 an hour? Absurd! Arrogant! Again EZ to prove.
Invite the Board and CEO down and ask them to run a MacDonald's for 1 day. Let's see how skilled they are at generating a profit. Let's just see how skilled they are.
That red line is corporate profits since 1970. The blue line is labor's share of income. As you can see, corporate profits are skyrocketing while labor's share of those profits is falling. This is a big part of the reason that median wages are stagnating even as the economy grows and the wealthy become ever more fabulously rich.
The problem is severe enough that it earned a mention at the beginning of President Obama's 2013 State of the Union address. "We gather here knowing that there are millions of Americans whose hard work and dedication have not yet been rewarded," he said. "Our economy is adding jobs – but too many people still can’t find full-time employment. Corporate profits have rocketed to all-time highs – but for more than a decade, wages and incomes have barely budged."