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He Explains Capitalism in America..
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<blockquote data-quote="MrFedEx" data-source="post: 1850745" data-attributes="member: 12508"><p>Really? Today's capitalism is a pyramid, where the very top of the pyramid controls a hugely disproportionate share of this country's wealth. The "fundamentals" here are that we have a tiny aristocracy and a huge underclass, with a declining middle class.</p><p></p><p>What creates this, you ask? Outsourcing is big, but worker wages have remained stagnant for decades now, while executive pay has skyrocketed. FedEx Express is a perfect example, where wages are years behind cost-of-living, the company is badly managed, but the execs are making money hand over fist.</p><p></p><p>And it's not just FedEx. When companies are incentivized to move their operations to RTW states by tax or infrastructure gifts, along with near zero ability for workers to unionize, what do you get? $14-$17 per hour jobs with minimal benefits, but huge profits for the corporations. South Carolina and Texas immediately come to mind as states that roll out the red carpet (and big dollars) to attract corporations there, where workers are paid peanuts. Toyota recently relocated it's corporate HQ to Texas, and the South and Mid-South are full of foreign assembly plants that were incentivized to locate there. The jobs are decent, but nowhere near the pay where workers can save for a decent retirement or have any sort of disposable income that encourages a "better" life.</p><p></p><p>The biggest incentives in US history were recently paid to Boeing, so it would supposedly retain manufacturing jobs here in the US. After getting all of the benefits, Boeing promptly shipped off jobs to China and elsewhere.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 1850745, member: 12508"] Really? Today's capitalism is a pyramid, where the very top of the pyramid controls a hugely disproportionate share of this country's wealth. The "fundamentals" here are that we have a tiny aristocracy and a huge underclass, with a declining middle class. What creates this, you ask? Outsourcing is big, but worker wages have remained stagnant for decades now, while executive pay has skyrocketed. FedEx Express is a perfect example, where wages are years behind cost-of-living, the company is badly managed, but the execs are making money hand over fist. And it's not just FedEx. When companies are incentivized to move their operations to RTW states by tax or infrastructure gifts, along with near zero ability for workers to unionize, what do you get? $14-$17 per hour jobs with minimal benefits, but huge profits for the corporations. South Carolina and Texas immediately come to mind as states that roll out the red carpet (and big dollars) to attract corporations there, where workers are paid peanuts. Toyota recently relocated it's corporate HQ to Texas, and the South and Mid-South are full of foreign assembly plants that were incentivized to locate there. The jobs are decent, but nowhere near the pay where workers can save for a decent retirement or have any sort of disposable income that encourages a "better" life. The biggest incentives in US history were recently paid to Boeing, so it would supposedly retain manufacturing jobs here in the US. After getting all of the benefits, Boeing promptly shipped off jobs to China and elsewhere. [/QUOTE]
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