America’s Decline in 1 graph

Crossposted from https://lemmy.today/post/59724884

161 points · 15 comments · view on lemmy.world

15 Comments

Nomad@infosec.pub · 24 pts · 2d (2 replies)

Best way to drive down Union membership is to gave cost of living increase and telling workers that unions are taking their much needed paycheck. Sadly people fell for that.

PineRune@lemmy.world · 12 pts · 2d (1 reply)

Don't forget the part where they cut funding for education so people are too dumb to realize they're being grifted.

Nomad@infosec.pub · 8 pts · 2d

Yes. That's part of why labor in the us is still that cheap and replaceable. And uneducated people often cultivate adversarial behavior against education in general.

RedIce25@lemmy.world · 11 pts · 2d (6 replies)

What happened in USA in 1980?

Davel23@fedia.io · 30 pts · 2d

Reagan.

SnoopSqueak@lemmy.today · 13 pts · 2d (1 reply)

Fewer high-wage workers and more low-wage workers; also, many companies moved down to southern states, where unions were not as strong. Ronald Reagan broke the PATCO strike in 1981.

Short answer: republicans.

MrMakabar@slrpnk.net · 2 pts · 2d

Not just southern states, but also other countries. The biggest one was China, which opened up in the 90s. But also the former Warsaw Pact countries with the fall of the Soviet Union, India and a bunch of other ended up part of the globalized supply chain. Then you have women entering the work force, who ended up mostly in non union jobs. Oh and new industries rarely unionized.

BarneyPiccolo@lemmy.today · 10 pts · 1d (1 reply)

It was actually 1974, when Congress retooled the tax code to bake in Trickle Down Economics, which started to gain traction by 1980.

The Rand Corp issued a report on income inequality, and the situation is far worse than most people think.

Salary Comparison Chart

The median salary of $43K in 1975 has increased to only $50K by 2020, while they would have been making $92K if the tax code hadn't been steadily re-written to enrich the wealthy at the cost of the middle class and poor.

In that same time period, the mean income for the top 1% went from $289K to $1.384 million, while they would have been making $630K under the old tax codes.

Thats a 17.4% increase in the lower median, and an increase of 321.6% in the 1% median. Clearly there has been an upwards distribution of wealth at the expense of the middle class since the tax codes started to be re-written in 1974 to favor the top economic tier.

This was done in 2020, and the situation has only gotten much worse since.

Read more about it :

New York Mag: http://nymag.com/intelligencer/amp/2020/09/rand-study-how-high-is-inequality-us.html

Fast Money: https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1

HeyThisIsntTheYMCA@lemmy.world · 0 pts · 1d

tax code was retooled in 1984, not 1974. major legislation, tax act of 1984

Cowbee@lemmy.ml · 6 pts · 2d

The rise of neoliberal economics in the Reagan administration, which privatized much of the US' state-run services and industries, and gutted unions.

Jake_Farm@sopuli.xyz · 3 pts · 1d (3 replies)

What happened in the 70s, cause according to this graph, that is when wages and productivity became divorced.

RockBottom@feddit.org · 1 pts · 1d (2 replies)

The postwar-growth was over for good, so rising profits had to be made by keeping wages low.

Jake_Farm@sopuli.xyz · 2 pts · 1d (1 reply)

Profits and productivity are not directly connected like that

RockBottom@feddit.org · 1 pts · 1d

Are you saying when you raise productivity and surpress wages you are not increasing profits? Then, why all the hassle and neoliberal brainwashing? Curious.

billionsandbillions@piefed.social · 2 pts · 1d