wistahpatsfan

Something's gotta give.



Workers’ share of national income plummets to record low - Yahoo! News

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patsfan13

+40% of people are getting government payments, 47% don't pay any federal taxes. Not good.

Very sobering graph.

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

PatsFanInVa

back to the actual topic of the post, the share of the pie working people get is shrinking. I think that's a bad thing.

Do you think that's good or bad 13?

wistahpatsfan

1947-1996, cyclical and overall consistent.
93-96, drop steeply
96-2000, big rise
Look at the drop 2000-2010!

I get there's a lag of effect from one admin to the next, but this graph shows something different, IMO. There's been an abrupt shift in the wealth, and it isn't from the poor to the rich.

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Real World

If you ignore the highs and lows you'll see that the trajectory is downward from start to finish, with a much, much sharper decline in the last couple of decades. Basically the chart falls off a cliff. Without knowing the methodology for the chart, I'd point to a number of factors as reasons for the decline. I'd point to explosive government, resulting inflation, the artificial manipulation of interest rates, the inlfux of cheap labor, slashed cap gains rates, free trade, and whatever else you can think of.

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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him."
Leo Tolstoy, 1897

patsfan13

Speculating here but I can see a combination of factors. Manufacturing supplied a lot of higher paying jobs, a smaller % of workers are in manufacturing, then there is outsourcing in IT that has taken off since 2000, cheaper to hire programmers in India and Pakistan than hiring guys in Silicon Valley and NYC. This I saw first hand after 9-11. On top of that now we have 15% unemployment so there is an obvious supply and demand issue.


When you look at government policy it doesn't help attract jobs at all. Very high Corp tax rates + a lot of employee overhead (benefits + payroll taxes) make the US a bad place for businesses that can locate in different areas.

IF you look at the NLRB hassling Boeing about where they can manufacture airplanes you understand why GOD jobs are fleeing America. If I am Boeing or another big US company and I see this nonsense next time I just build overseas if I want to be competitive.

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

DarrylS

On the contrary, if you look at the behemoth, bloated defense and Homeland security budgets.. they have spawned a huge industrial complex and many jobs on your dime.

Boeing is not going to leave america, they are moving to a third world state (South Carolina) and there are union issues.. if they do leave the country, then they should loose all of their defense contracts..

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"Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.

PatriotsReign

Off the top of my head, this chart doesn't reflect income distribution at all. It shows WORKER'S SHARE OF NATIONAL INCOME. So that means that those who aren't working are not counted or that they do count and they're dragging down the average.

To RW's point, we don't know the methodology nor do we understand the chart's relationship to income distribution.

Question #1 - How is a "Worker" being defined?

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"No one walking this earth knows what is truly righteous"

PatsFanInVa

I think you said this backwards, unless I'm missing a nuance, right?

(i.e., it isn't from the rich to the poor)

I'm not doing the "gotcha" thing, just making sure I am reading what you mean.

PFnV

PatriotsReign

"Workers' share of national income" may just be all private household income as a percent of GDP. If that's the case, off-shoring would dramatically reduce AMERICANS' share of national income.

In my opinion, that is the main point your graph is illustrating. It doesn't really show anything about "Wealth Redistribution" per se. As a matter of fact, your graph includes people with incomes well over $250k...as long as they are "workers".

Finally, my last point is that almost every company has reduced their workforce and increased output. My company hasn't added any significant numbers to our payroll over the past 6 years, but our company has gone from $350MM to almost $1B annually over that same period. So even our employees share of our company's income has declined dramatically. But since my income has increased by over 25% over that time, I don't feel like I'm getting ripped off or anything.

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"No one walking this earth knows what is truly righteous"