Thursday, August 31, 2006

The Rich Gets Richer - What Else Is New?

The wealthy get wealthier and have-nots get even less.

While exercising this morning I heard a news tidbit that in the U.S. productivity is up. Profits are up. That means the economy looks good.

Then, it seems, that wages should be up so all us can bask in this Land of Free Enterprise.

Nope!

Only the top 1% can claim substantial increases in their earnings (I hesitate to use that word “earnings”).

With the economy is full swing it means prices go up (widen that profit margin) which ups the cost of living and the average family is having a hard time making ends meet. Many have to hold down two jobs.

The reason the report, I heard the report say, is that companies feel they have more of an obligation to please their stockholders than their workers.

The stockholders are that upper one percent.

But don’t feel too scornful towards that one percent. After all, they got a big tax cut. They got the tax cut because of the theory the more of a tax cut they get they more they will spend, which more goods will be produced to serve their needs, so more people of the work force will be needed to keep the wealthy supplied with the goods. Can you imagine what a responsibility that is for the wealthy? To keep us low life in jobs?

Such a responsibility will probably drive some of them to drink… martinis, scotch, etc.

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7 Comments:

Blogger Suzanne said...

You are right - most of them don't "earn" anything. Earning implies actually doing something to deserve rewards. This is income.

what will it take for people to wake up and realize that W is the worst president EVER (unless you happen to be Paris Hilton)?

10:38 AM  
Blogger ET said...

Suzanne,
It is also ironic that they get the tax cut to buy more and who benefits the most? They do! They own the companies! So, they do a double dip on the economy.

5:51 AM  
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