99ers, how do you think this happened: “Corp profits account for 92% of growth in real national income.” .
A recent study by a team of economists at Northeastern University’s Center for Labor Market Studies argues that the current economic recovery is the worst since World War II for worker pay and job growth — but the best for corporate profits. The headline:
Over this six-quarter period [from Q2 of 2009 to Q4 of 2010], corporate profits captured 88% of the growth in real national income while aggregate wages and salaries accounted for only slightly more than 1% of the growth in real national income.
That’s right. Of the $528 billion in real national income gained between the second quarter of 2009 and the fourth quarter of 2010, pre-tax corporate profits accounted for $464 billion, while wages rose by just $7 billion. If you extend that out to the first quarter of 2011:
[C]orporate profits accounted for 92% of the growth in real national income while aggregate wages and salaries declined by $22 billion and contributed nothing to growth.
Ninety-two percent of the national income increase in the last two years has ended up in the pockets of Wall Street because millions of people are working too much, while millions of other people like you are unemployed. The statistics gather by Northeastern University demonstrate that by keeping you unemployed, the corporations gained a massive share of income in this “recovery”.
This why Obama doesn’t care about you; this is why he did not take one question on the subject during his Twitter Town Hall.
The unemployed are the deadweights being used in this crisis to hold down the wages of the employed. As long as hours of work are not changed, neither will this. There is nothing difficult to understand about this: Obama is using you to line the pockets of Wall Street.
Can I put this is simpler terms — terms even a grade school child will understand? Keeping you hungry, keeps wages down! Obama doesn’t want to reduce hours of work because he knows longer hours of work provide massive profits to corporations.
The two parties have their talking points: “It is too costly to stimulate the economy to reduce unemployment, we have to balance the budget.”
And, they can point to the 2009 stimulus bill to prove their point” In 2009, it cost nearly $300,000 to produce one measly $25,000 job. But this is a complete distraction: It doesn’t cost a dime to create jobs by reducing hours of work. Cutting hours of work, so everyone has a job, does not cost a dime and can completely eliminate unemployment forever. If the work week was 20 hours long, the unemployed would have a job, and the overworked population would have more freedom from work. While Washington would have fewer idle resources for its wars of aggression.
At some point 99ers will have to realize the two parties have deliberately locked you out by using the excuse that ending unemployment is expensive — even as they limit our options to only the most expensive kinds of stimulus measures. The entire deficit debate is designed to distract the nation from the plight of the unemployed. Obama is working with Boehner to do this.
Ending unemployment doesn’t cost a dime!
Ending inequality doesn’t cost a dime!
All it takes is a reduction in hours of work. Either 99ers learn this lesson, or you will continue to suffer.
There are now enough 99ers to prevent Obama’s reelection in 2012. So you should stop whining and start trying to defeat him. The moment a group starts called “99ers to defeat Obama in 2012″ is the moment Washington starts taking your plight seriously. 99ers need to stop whining about being ignored and start fighting for a complete abolition of unemployment. You are bigger than the Tea Party and Moveon.org combined. You need to show your power.
The only way to get Washington’s attention is to make sure Obama goes down in flames in 2012. Almost all the battleground states in 2012 are experiencing massive unemployment and huge numbers of 99ers. No party will get elected if 99ers refuse to support them in these states.
It is time you stop whining about Obama, and make his life a complete misery — you need to change the terms of the debate. If 99ers would, for one minute, start thinking intelligently about unemployment, Obama and Boehner could be stopped.
No one is coming to your rescue. Only you will save yourself and the rest of the employed, who are working more hours for less income. As long as 99ers spend their days begging on their knees for a job, the two parties will ignore you.
Stand up for yourselves! If Obama gets reelected in 2012, he will be the GOP’s man in the White House — and 99ers will be screwed again.