Sunday, July 13, 2014

US Wage Stagnation, Not Enough Government

The main reason the U.S. economy isn't doing better - CBS News:

In my years at IBM I observed that most all of our problems were caused by a lack of Vice Presidents -- tongue firmly in cheek. Except for Gerstner taking over in '93, most "solutions" at IBM involved minting a bunch more VPs or other high level management positions. Most of history's progress has been accomplished by large committees of black women (just ask Oprah), corporate middle management, or of course, Government. Just ask the right folks, they know it to be true!

CBS News, noted economists, business folks and document creators (W Bush fake National Guard documents) that they are,  is convinced that the problem with US wage growth is:
  1. Not enough minimum wage
  2. Not enough government 
  3. Not enough progressive taxation. 
Certainly since the late '70s we have been horribly short on all of those things.

I'm thinking their crack research division might be able to avail themselves of a Google search, which would quickly show them that in constant 2013 dollars our minimum wage is historically high. Shockingly, the last time it was this high was in the 1970's ... I'm sure there is no correlation that the economy sucked then as well!

I'm not going to bother to go find the charts that show that the top 10% of US income earners are paying record levels of income tax and the percentage spent by the US Federal Government are at all time highs comparable with the 1930's and WWII. Turns out I'm actually correct, but since CBS News doesn't bother to look anything up, why should I?

So why does CBS News think these things are solutions? For the same reasons IBM is always a few short of a load of VPs and 1700's Doctors always felt a little more blood letting would do the trick -- that is what they ALWAYS think! The "solution" is 100% independent of any facts whatsoever.

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