Smooth Slider

The Increase in Minimum Wage & Hourly Pay Compared to Average CEO Pay.

The chart above tracks the growth of the average hourly wage of the American worker. It seems to show an overall steady and solid increase. But it is an optical illusion. The scale on the right starts at $22.00 and ends at $22.80. If it started at $0.00 the columns would ...

Read the full article

The Best? From Flynn to Omarosa: A Litany of Trump's Disastrous Hires

Donald Trump promised to hire the best people. Then his National Security Advisor, Michael Flynn, was gone after just 24 days on the job — done in by his pillow talk with the Russians and his denial he had even been in bed with the enemy.Today we discovered that another ...

Read the full article

Donald Trump Jr. Compares Democrats to Nazis.

Donald Trump Jr. claims that the platform of the 1930s Nazi party closely aligns with the Democratic platform today. At the premiere of Dinesh D'Sousa's latest film fiction "Death of a Nation” he made the claim:“You see the Nazi platform from the early 1930s . . . and you look at it compared to the DNC ...

Read the full article

Ivanka Trump Talks About Families Torn Apart And Makes It All About Her.

Ivanka Trump — the would-be conscience of the Trump family — is appalled at the treatment of immigrant families. In an Axios forum she said the following:“That was a low point for me as well. I feel very strongly about that, and I am very vehemently against family separation and the separation ...

Read the full article

Why Do Americans Rate Their Politicians So Abysmally?

It is widely known that today’s Congress has the same approval rating as herpes. In truth, politicians have never ranked high in anyone’s estimation. Why? To understand let’s consider how someone gets a position in politics. In most jobs you submit a resume and go to an interview where you extol your experience, education, and ...

Read the full article

The chart above tracks the growth of the average hourly wage of the American worker. It seems to show an overall steady and solid increase. But it is an optical illusion. The scale on the right starts at $22.00 and ends at $22.80. If it started at $0.00 the columns would appear to be about the same height.

What the chart does show is that in the last 12 months wages have increased nominally by 54 cents. But if you factor in inflation, the increase is 10 cents.

This is not what the congregation was promised by the administration and its congressional poodles when they were selling the tax cuts. Once again the wealth giveaway to the top earners and corporations has not led to significant increases in worker pay. How often will poorly-educated white men fall for this? 

Adding insult to injury will be the inevitable calls from fiscal conservatives that something must be done about the concomitant exploding deficits. And they will demand that the ‘something’ should be cuts in social programs.

Because they are shameless.

Having looked at the middle, let’s look at the bottom — the minimum wage. It has been stuck at $7.25 since 2009. If it had tracked with inflation it would be $8.55 today. However, if we instead picked 1968 as a baseline, and matched inflation, the minimum wage would now be $11.59.

Let’s take it one step further. If instead, the minimum wage had risen as much as average CEO pay it would now be $93.52.

And if the ratio of CEO pay to the average wage had remained the same the average wage would be $287 an hour.

And yet the supply-siders still insist on cutting taxes on the economic aristocrats and complain that the poor are fighting a ‘class war’ and demanding ‘wealth redistribution’. It’s like running someone over and complaining they dented your fender. 

And the small-government types say that wages at each end of the scale are merely a product of market forces and any attempt to interfere is merely socialism and will only assure a Soviet-style command economy. It’s rubbish of course. Many countries see economic growth combined with a vibrant middle class and a robust safety net.

As Christoper Hitchens so pithily observed of libertarianism (specifically Ayn Rand’s ‘Objectivism’) “I have always found it quaint, and rather touching, that there is a movement in the US that thinks Americans are not yet selfish enough.”

{ 0 comments }

“The Best”? From Flynn to Omarosa: A Litany of Trump’s Disastrous Hires

August 12, 2018

Trump swore he would “drain the swamp”. But instead, he brought his personal sewer to Washington.”The Best”? From Flynn to Omarosa: A Litany of Trump’s Disastrous Hires

Read the full article →

Donald Trump Jr. Compares Democrats to Nazis.

August 6, 2018

Donald Trump Jr. claims that the platform of the 1930s Nazi party closely aligns with the Democratic platform today. At the premiere of Dinesh D’Sousa’s latest film fiction “Death of a Nation” he made the claim: “You see the Nazi platform from the early 1930s . . . and you look at it compared to the DNC platform of today, you’re […]

Read the full article →

Ivanka Trump Talks About Families Torn Apart And Makes It All About Her.

August 6, 2018

Ivanka Trump — the would-be conscience of the Trump family — is appalled at the treatment of immigrant families. In an Axios forum she said the following: “That was a low point for me as well. I feel very strongly about that, and I am very vehemently against family separation and the separation of parents and children.” […]

Read the full article →

Why Do Americans Rate Their Politicians So Abysmally?

July 30, 2018

It is widely known that today’s Congress has the same approval rating as herpes. In truth, politicians have never ranked high in anyone’s estimation. Why? To understand let’s consider how someone gets a position in politics. In most jobs you submit a resume and go to an interview where you extol your experience, education, and credentials. You offer no […]

Read the full article →

How to Lie with Statistics. Why Journalists and Pundits Can’t Be Trusted with Numbers.

July 30, 2018

While Donald Trump’s approval rating hovers around the low 40% for ‘all voters’ — the lowest ever for a president at this point in his first term – his approval rating among ‘self-declared Republicans’, at 88%, is the highest for any Republican President except for Bush Jr. right after 9/11. Does this mean that Trump is supported […]

Read the full article →

Voters Prefer Democrats to Republicans by 12%. And Seniors Are No Longer the Most Conservative Americans.

July 25, 2018

A new Quinnipiac poll reveals that Americans are currently 12 percentage points more likely to vote for a Democrat (51%) in their congressional district than a Republican (39%) —  which is good news for the Democrats. Republicans will take solace by pointing out that the polls had Hillary winning the presidency — which obviously she didn’t. However, the 2016 […]

Read the full article →

Is Trump Sane? Lindsey Graham Hints at the Answer.

July 23, 2018

In an interview with Margaret Brennan on ‘Face the Nation’ Sen. Lindsey Graham (R-SC) said that Trump’s mental faculties may be diminished. “I think the president gets this confused,” Graham said. “If you suggest that Russians meddled in 2016, he goes to the idea that, well, I didn’t collude with them.” Graham was good enough to keep the language gentle — […]

Read the full article →

Beto O’Rourke Embraces Trump’s Impeachment.

July 18, 2018

Democratic Party leadership is terrified that impeachment talk will galvanize the Republican base in the November elections. A wave of young liberals — epitomized by Alexandria Ocasio-Cortez — have ignored this concern. However, a solidly Democratic seat in New York City is hardly a bellwether for the country. But the US Senate election in Texas is. Texas used to be reliably conservative. Ted […]

Read the full article →