The unspoken subject

[kentuck]

Many in the middle class are lamenting the possible repeal of the Bush taxcuts. They will take a very hard economic hit if that happens. They need their taxcuts. Why?

Because their wages have not kept up with their productivity and because employers and corporations, with the assistance of the big banks and insurance companies, have manipulated the labor market in ways never before experienced.

It started long before this latest economic downturn.

Before the housing bubble, everybody was spending on credit cards. Except those, of course, who had maxed out on their cards, and had refinanced their homes to pay off their credit card bills and to have a little extra spending money. That had been the normal cycle for many average consumers for many years. But then, the housing bubble burst and that was the end of easy money - no more credit cards and no more re-financing the home. It was a terrible blow to the middle class.

Unless we can put money into the pockets of average consumers, we will continue in this downward slide. We live in a consumer society. People have to consume or the economy stalls and declines. It is not true that people are not spending because they are "uncertain" about the future. They are not spending because they do not have access to money (or credit cards) the way they did in the past. This is the price we pay for easy credit.

In 2001, they received taxcuts instead of pay increases. Now, if those disappear, the majority of Americans are in a deep hole. They no longer have their easy credit with their credit cards. They no longer have their easy re-financing to pay off their credit cards. Now, they no longer have their taxcuts. And they find themselves about 25-years behind in wages.

Where is the demand for higher wages from these greedy employers and corporations? They were able to pay their CEO's unheard of bonuses and they paid their workers, who were creating record productivity, almost nothing. The minimum wage should be raised immediately. That would be a good start at correcting this wrong. Workers should hold them accountable.

[RegieRocker]

1. Barainwashing

has done a remarkable job. They have successfully convinced people that Unions are bad. There is no collective anything. By us refusing to allow the rich their tax break and suffering the loss of our own we however do send some type of message.

[polichick]

2. I don't hear either side talking about higher wages - and neither side...

...seems willing to do much to bring jobs back to the U.S.

Looks like the only way the middle class gets help is if the wealthy gets more help.

[baldguy]

3. And if the fed govt can't meet it's obligations to state & local govts, those taxes go up.

In the end, the ultra rich gets a windfall & the middle class pays for it.

[Faryn Balyncd]

4. K & R

:kick:

[Angry Dragon]

5. Just think how many things and how much one could sell

if everyone made about the same amount of money........

And everyone would pull together because that would pull
everyone along.......

[Curmudgeoness]

6. I'll tell you why no one is demanding higher wages...

those of us lucky enough to still have a job are so worried about just keeping that job that we do not want to cause any trouble. And we know that there are plenty of people who would love to have our jobs, for whatever pay we are receiving. And the people who are not working cannot be blamed for accepting a job at less pay than it is worth.

Until we get the economy moving again, there will be no raises in wages. And even then, it may be a long time before anyone is willing to rock the boat. So we will continue to suffer and continue to fall backwards.