The Actual Economic Status of the American People – 2006/2007

As many of us pondered in the mid 1990s how is the average American going to fare in this “New World Economy,” wherein you shut down major manufacturing businesses, merge with international companies, down size, engage Third World Nations workers to work at 1/3 the pay rate and then ipso facto the jobs lost will be replaced by high paying jobs. ” A win-win,” we were all told.

Well, time has been the great revealer of the real status of these lofty economic theorist. The American Working public has lost all the way around. If you look at your income, throw in the measly tax cuts and loss of health benefits, the average American worker lost big time. It was not a Republican plan or a Democrat vision, but nonetheless it has happened. The average American worker has lost big time over the last decade. That is not to say that certain very low paying jobs for certain ethnic classes has not gone up a few dollars, but it is to say the high paying jobs with benefits were lost and lost forever.

This study looks at a gamut of variables. The most striking facts revealed is that the working Americans except for the top 1% have steadily lost money not only in their hourly wage, taking into consideration the cost of living, but have lost any benefit of the New World Economy tax cuts which only granted favors to the very wealthiest in the great nation.

There is wage compression in nearly all sectors of the American economy. The bulk of the jobs gained after the bust of 2000 in the high technology area were replaced with historically low retail jobs and unskilled labor. The area not discussed is that many of the low skill jobs were shipped overseas to cut costs even further. I also did not see the real effect of the watering down of ERISA and other retirement safeguards, wherein many workers effected by the closures and loss of retirement through fraud of corporate America have absolutely nothing to show for their years of service in the workforce. The facts and figures are taken from the Census Bureau.

Currently, the hot button issue is revitalizing the health care system. A system which was severely impacted by the lack of insured American workers. A fact rarely mentioned. The costs, the increase in population and the like have certainly reached a crisis status. The only personal comment I have is that the crisis of healthcare is that there is a direct and causal relationship between the ruse of the New World Economy. The bottom line analyst of this school of thought would have you believe you can ship 10 jobs overseas with no benefits for every single American worker with health benefits and that there is a null effect on the American economy and its prized quality of life. This includes healthcare, providing a safety net for its most vulnerable citizens and purchasing power.

So, now like in other aspects of this amorphous American policy concerning the American people are being asked to expect less,, pay for the repair of the healthcare system and the triple wammie earn less. I say whomever came up with this elitist theory and benefitted the most should feel some obligation to pay their proportionate share of the damages across the board.

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