Originally Posted by Mr. Wiz
Most record profit earning companies are not doing what you claim. Some have done that to be sure but their days of doing that wont last long. As the economy recovers these companies will have to pay competitive wages to keep their good employees. Unfortunately, for a while now the labor market has been soft. That's just a reality. Just like it was a reality when the tables were turned and the unions forced the companies to meet unreasonable demands.
Corporate earnings as a percentage of GDP are at an all time high, while wages as a percentage of GDP are at an all time low.
It seems the economy has recovered nicely for the top tier. Meanwhile for some reason the labor market still remains soft and has not shared in the recovery.
In 2010, 93 percent of the income that was added to our economy accrued to the top 1 percent of families. Is this the new norm?