They made too many wage concessions:
In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.Say this for the teabaggers: They know they're getting screwed. But they blame exactly the wrong people.
Meanwhile, the richest 1% of Americans -- those making $380,000 or more -- have seen their incomes grow 33% over the last 20 years, leaving average Americans in the dust.
2 comments:
Union wage concessions don't matter. They were overpaid they should of given their money back.
The graph proves that the middle class was not overpaid - that the middle class has been underpaid. Hugely.
Unions help keep non-union wage rates higher. Fewer unions, less upward pressure on wages - which would have simply been a reasonable sharing of the productivity gains made by labor.
Instead, no seat at the table for workers, no rewards...
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