Wednesday, December 30, 2009

Two Dollars in, three out

Budget a little tight after the holidays? You’re not alone, 60% of Americana spend more each month than they make, this according to the credit card industry. Right-wingers will stick their nose in the air an make disparaging remarks about all the people who buy flat screen TV’s with their credit cards. The credit card banks have slashed credit limits so there are damn few shopaholics left.

People whose pensions have disappeared are living on their savings. Medical bills, kids in school, lost one of the three jobs needed to scrape by, on and on. With twenty percent of the country unemployed, even if you have a job, you probably aren’t doing that well. It comes down to sixty percent of the workforce being underpaid. If brought up to pre-Reagan levels (the good old days when the American Dream wasn’t to win the lottery) the minimum wage should be $14/hour. Adjusted to the increases in productivity over the last forty years the average wage should be nearly double what it is now.

The China based economy has drained all the money out of the country. Two thirds of corporations pay no taxes because they either off shore all their profits like Haliburton or they pay such obscene executive pay that they don’t have any profits. Shipping raw materials to China and goods back is not cheaper even with slave labor since labor cost is not that big a portion of the retail price of an item. (typically less than 10%)

It’s all about heavy handed control. The super rich don’t like the middle-class, period. They want the gilded age back and they are very close to having it their way. The average American is so ignorant that they spend more than they make every month and don’t realize that something is wrong.