Oddbean new post about login | logout Auto workers are demanding a 40% raise to match the 40% pay increase CEOs of the Detroit automakers got over the past 4 years. CEOs are calling this absurd, but they couldn't be more wrong. THIS IS A COMPROMISE. Why? Because worker's real wages have fallen 30% over the past 20 years. They're foregoing 16 years of wage theft for 4 of equity, and consistent equity going forward. That's basic justice. Pay workers. Unionize workers. Tax billionaires. Save our economy.
@e4576eea This article is now dated, but so understand it’s still the case: wage theft is a bigger problem in the US than other forms of theft. https://www.epi.org/publication/wage-theft-bigger-problem-forms-theft-workers/
@e4576eea Reagan destroyed the middle class. Screwed the unions. Lowered the marginal tax rate for the wealthy from 70% to 28%. Inflation continues. Wages flatlined. Minimum wage should be $20/hr. If it were to be increased at the same rate as inflation. That’s a conservative estimate. Today, the wealth gap is astronomical. Fuck the rich. Their greed obsession is destroying the majority of Americans opportunity for a better life.
@e4576eea Kevin Drum has a quick writeup on this - with a graph! https://jabberwocking.com/raw-data-hourly-pay-in-the-auto-industry/
