Gerald McGrew wrote:Once again, fortunately (for some of us) this is a question where the data can shine some light on the situation.
In the US, productivity of workers has risen steadily since WWII. During most of that time wages rose at roughly the same rate. However, starting in the mid-1970's and really taking off in the early 1980's, while productivity continued to increase, wages stagnated.
So that begs the question: Where did the money from all that increased productivity go? The answer is clear...to the wealthy.
Thus we see the results of supply-side, "trickle down" economics. Most of the population works harder while more and more of the fruits of their labor is gobbled up by the wealthy.
I'm sorry, what? The graphs all show that every segment of society, including the poorest, have bettered their economic condition in the last 30 years. What you're complaining about is that some people make much more than others. Big deal. Those people are the ones who create and operate the companies that everyone else works for. That's the "trickle down" part of economics. Somebody at the top of the economic food chain risks a lot of their own capital and time to build a company that hires and employs the common laborer, who benefits by having work to do and a paycheck at the end of the month.
You can be jealous and envious of the amount of money that someone else makes, but what YOU make is a product of your own limitations, and ONLY your own limitations. Nothing in our economy, no law, no practice, no custom, prevents ANYONE with a good idea and the willingness to work hard from joining those in the top 10 percent of income earners. Nothing. There are no class limitations, no oppressive apartheid laws, no legalized racial or sexual discrimination, and no means-tested obstacles to anyone being a financial success in the United States.
It's all about whether the individual has it within him to succeed. Bill Gates is the quintessential example of a guy who never finished college, worked out of his garage, and is now one of the richest men in the world because he had a good idea and the moxie to take it to success. But in that venture, Gates, and every other wealthy entrepreneur who invests their time and capital trying to make a new idea a success, take enormous risks by investing their time and their capital. If they fail, as many do, they lose everything.
Most people are unwilling to take that kind of risk even if they do have a better mousetrap, which most of them don't. So, they go to work for someone else, rise to their level of incompetence, and take home a regular guaranteed paycheck for their day's labor. They don't risk much of anything, so their rewards are commensurately smaller, but they always get paid exactly what they are worth, because they accept the employment contract at a specified pay grade and in doing so they are setting the market price for their skill set.
So, they have absolutely nothing whatever to complain about. They set the market price for their labor, and they get paid that amount by the employer. A fair deal all the way around.
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