Misleader nails Bush on Wage Crisis

[Ksec]

BUSH IGNORES WAGE CRISIS HITTING MIDDLE CLASS

Over the last month, the Bush administration has cited recent jobs numbers
to claim that average workers' paychecks are increasing. Vice President
Cheney said, "real incomes and wages are growing."<1> But as new studies
show, wages have actually decreased for the average worker, even as
corporate profits and CEO pay have exploded.

According to the Economic Policy Institute, while corporate profits have
risen by more than 62%, workers' take home pay has dropped by .6%.<2> This
follows an earlier report which shows that industries currently adding jobs
pay 21% less<3> than industries that are slashing jobs. Despite this wage
crisis, President Bush is pushing to cut off an estimated 8 million workers
from overtime pay protections,<4> and supports efforts to outsource even
more well-paid American jobs.<5> Meanwhile, he refuses to raise the minimum
wage, despite new research showing a minimum wage hike would not adversely
affect businesses or consumers.<6>

The story, of course, is different for the president's wealthy campaign
donors. A recent study shows CEO pay exploded by 27% in just one year,<7>
all while the President lavished more than $1 trillion in new tax breaks on
the richest 1% of the population. To put the contrast into dollars, the
average worker takes home $517 a week<8> and will receive about $400 in tax
breaks from President Bush. At the same time, the average CEO takes home
$155,769 a week<9> and this year alone received well over $50,000 in new tax
breaks from Bush.<10>

Sources:

1. Vice Presidential Speech, White House Website, 5/21/04.
2. "Economic Snapshots: When do Workers Get their Share?" Economic Policy
Institute, 5/27/04.
3. "Economic Snapshots: Jobs shift from higher-paying to lower-paying
industries," Economic Policy Institute, 1/21/04.
4. "8 Million White-Collar Workers Could Lose Overtime Pay Under Bush Plan,"
AFL-CIO, 6/26/03.
5. "Exporting American Jobs," ABCNews.com, 2/13/04.
6. "Economist: Minimum wage boost could add a dime to meal tab," Associated
Press, 6/4/04.
7. "U.S. CEO pay rose 27 pct in 2003 -- study," Reuters, 5/12/04.
8. "Ratio of CEO Pay to Average Worker Pay Reaches 301 in 2003," United for
a Fair Economy, 4/14/04.
9. Ibid.
10. "Details on the Bush Tax Cuts so far (as of fall 2003)," Citizens for
Tax Justice, Fall 2003.

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[PROGRESSIVE1]

1. Excellent! Please show this to FRODO.

[acmavm]

2. Of course the statistics on the 'recovery' are misleading. Does anyone

seriously think that the government would tell the truth about the fact that that white collar jobs, the good paying jobs, are disappearing? That every spring seasonal jobs, like construction and lawn care, start up again. That they are including temporary workers in the statistics. That those who get a permanent full-time job are working for LESS MONEY AND NO BENEFITS, for example insurance. That while the cost of living is climbing, the wages paid are sinking faster than the Titanic.

There is no economic recovery. There is, however, a seasonal upswing and manipulation of the data. Have you noticed how many articles regarding job outsourcing to India and China are being posted on DU? Well, I don't think that the lost jobs data is being used when putting together these 'employment' statistics. There is no way that they could be. Also, the statistics look good because there is no way to track, or no attempt anyway, people who have dropped off the unemployment benefit rolls and into oblivion.

Another indicator is that April was the worst month in ten years in regard to new housing purchases. You need a strong economy that pays well in order to have conditions that allow people to purchase new houses, especially considering the cost of these abodes. American purchasing power is sinking like a rock because wages are sinking faster. The majority of the American public has to be paid a living wage that is equal to or higher than the 'cost of goods' being sold in order to have a strong economy. If you look at the number of bankruptcies being filed, the increase in the number of homeless, and the increase of the people who are trying to get food from foodbanks and soup kitchens, you get a better picture of the true economic sitation in this country. And just for shits and giggles, keep in mind that people are having to rely more and more on emergency room care for their health problems then have the 'luxury' of going to a doctor's office. This is because they can't afford the cost of an office visit and the exam, and the obligatory tests, etc.

It's all smoke and mirrors. One thing that I didn't mention was the fact that good-paying jobs that are still located in this country are a lot of times going to people that are being recruited from foreign countries. They will work for a lower wage. But if they meet the educational requirements, and are skilled in that particular area, they are being hired rather than college educated Americans. I've tried to find statistics on this situation, but so far I've not been able to find really good data on this. So my question is, are these people being included in the numbers of people who have been able to find a job? If so, then that really throws the statistic out of whack.

[swinney]

3. Part Time Work important

March jobs report wAs 308,000 but the government report showed part time workers increased by 300,000 in March.


Wow! Plus 275,000 stopped receiving unemployment checks.

Someone playing with numbers.

Note how all reports on economy are "updated" on growth side.

In the past they were usually "downgraded".

My gut says something amiss.

[rfkrocks]

4. get ready for the "great leap forward"

fundamental job displacement of the American worker is not covered by these stats-"welcome to walmart" is a job but don't get sick or have a family that needs health care-Bush has the Ebenezer Scrooge view of the world as long as Scrooge and Marley are racking in the dough there is no need to look at the Tiny Tims of the world-