THE LONG, SLOW, COUP BY THE RICH, AND THOSE WHO SERVE THEM
THE EARNING POWER OF MOST AMERICANS IS BEING STEADILY DEGRADED—AND YET THERE IS NO WAVE OF POPULAR INDIGNATION.
WE SEEM TO ACCEPT BEING ECONOMICALLY RAPED WITH SULLEN FATALISM. WE EVEN VOTE FOR OUR RAPERS. THIS IS NOT THE U.S. I WAS TAUGHT TO BELIEVE IN.
Let me quote Nick Hanauer (a Seattle based billionaire):
In the absence of a law requiring me to pay you overtime if you earn under a certain amount, you end up working harder—and the harder you work, the fewer employees I need. The fewer employees I need, the higher the unemployment rate. The higher the unemployment rate, the more leverage I have to “encourage” you to “do what it takes” to keep your job. And so you work even more hours, pushing unemployment up and wages down. And that, my friends, is one of the little tricks that keeps you poor and me rich.
The U.S. economy—as matters stand—does not work in the interests of most Americans. Just about everywhere I look, we are losing ground. We have a lousy savings rate. We have the least worker rights in the developed world—and the shortest vacations (where we have them at all). We have appalling social mobility. We have virtually no job security. Wage theft is rampant. Wages, themselves, are being squeezed—and, in real terms, are declining—and, as you can see from the above, overtime—in defiance of the law—is being stolen. It’s a miserable story.
And we die about three years sooner than the citizens of other developed nations (though our healthcare costs us nearly twice as much).
Could it be the American Way of Life needs fine-tuning?
VOR words c. 150.