you are confused. if you are willing to work for 7 dollars an hour that is a fair valuation of your labor.No, it simply means that the pact of a good wage for hard work has been broken as working and middle class incomes have stagnated for about 30 years while incomes in the top bracket have risen significantly.
None of this would be happening if people were getting paid fairly - as they were for most of our post-World War II history.
Government wouldn't be needed if the top classes were still offering decent jobs and wages. Instead, they've moved jobs overseas and left Americans with the jobs that pay $7.50 to $10.00 an hour. And our government has given them tax breaks, corporate welfare, and other incentives to do this.
Government should be setting policies that do the most good for the most people. It should not be setting policies that celebrate and encourage the wealthiest few sending jobs overseas and stifling wage growth.
For instance: The Blue Cross Blue Shield of Tennessee CEO recently got a raise from $1.7 million to $6.2 million. Her employees all got a 2% raise and my partner's division shed 26 jobs. Premiums paid by BCBST insured went up approximately 8%. Additionally, the Board of Directors of BCBST, which is a 501(c)(3) not-for-profit according to its tax filings, make between $75,000 and $100,000 a year. This is a NOT-FOR-PROFIT not paying government taxes on their "profits" of over $59 million and their reserve (which an insurance company does have to have, I know) of $1.4 billion.
People pay more for their insurance, people lose jobs, others get insignificant increases in pay all so she can see her salary triple - when she works for a so-called not-for-profit.
We incentivise this type of behavior and reward it with our lack of regulation and tax policy. We've been doing so to a degree that it's shrinking our middle class, and that's incredibly dangerous with a consumer-driven economy. No matter how hard they try, the top 1% of earners will never be able to spend as much as the remaining 99%. Without that spending, we have no economy. If the other 99% don't have money to spend, our economy is dead.
I've said from the get go, I don't care if you let corporate tax rates drop to ZERO - as long as the breaks are given for hiring Americans - not for giving their board and executives million-dollar pats on the back for sending jobs overseas.
John Boehner calls them "job creators". Create some ****ing jobs then.