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Forum » Inflation: Average Hourly Wage Only Increased 25 Cents In 48 Years
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Thread: Inflation: Average Hourly Wage Only Increased 25 Cents In 48 Years

post 1653847583 01-06-2022, 03:22 PM
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Originally Posted By katya422⏩
I don't personally care much what CEOs get paid.Only pointing out that instead of getting screwed [flat compensation] they have done quite well.
If you believe that the price of goods in a market economy is determined by supply and demand; then where is that growth in CEO remuneration coming from; at whose expense?
post 1653847903 01-06-2022, 03:30 PM
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Originally Posted By RIKTER⏩
Wait until we add over 100 million 3rd world immigrants(doesn't include amnesty or Bidens current bill that allows unlimited immigration) while 70 million current jobs become fully automated. Should be fun times ahead, especially for the most hated demographic(you).
I don't think it's a secret that [due to low birth rates] the developed world doesn't have enough young worker bees to support all the old fogies. So I guess the thinking is to:

- kill off the oldies: disease, deaths of despair, deflation of investments and/or inflation of living costs

- import more young worker bees
Originally Posted By nothingshocking⏩
Yes, all those Indians in the call centers would be out starting their own companies and creating National wealth for India if the big bad USA companies didn't hire them as low cost unskilled workers.

Give me a break Kataya
Can't say what the locals in India might get up to. Indian people are often doctors, IT professionals, and business owners.

On the flip side I can say that it must retard wages for those employed in call centers in the US.
Originally Posted By blissful88⏩
Like trying to Google your way into an epidemiology/virology/economics major

Focus on penor like nature intended
Everyone needs a hobby.
Originally Posted By blissful88⏩
The only thing that elicits discussion on here anymore is racism & CoV2

We live in a global firesail
Be the change you want to see on the misc.
Originally Posted By blissful88⏩
That's someone's grandma
Not yet. Though being a granny doesn't seem to mean one must give up their dreams of ethottery.
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post 1653848083 01-06-2022, 03:33 PM
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so what reforms do you want katya?


right now you sound like a full-time mum whose husband makes only 75,350 USD per year
communist until you get rich
rightwing until financially secure
atheist until the plane starts falling
slootist until you get married
muslim after you get married
post 1653848103 01-06-2022, 03:34 PM
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Look at the past, look at the now, but realize you're just one person and even if you can fathom a better future from a change - whether it's tripling everyone's wages, changing tax policies, whatever - it's still out of your control.

Use this as fuel if you'd like to stick it to the old person that tells you how easy you have it and "Back in my day I had to walk 5 miles to school and had to work as a child to help my family survive."

But other than that, just realize this is the world we're in. This is the country we're in. Do what's in your power to do. Whether that means move to another country with better CoL/wages ratio, or doing something within your power to increase your own annual wages.
post 1653848343 01-06-2022, 03:39 PM
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Originally Posted By katya422⏩
Anyone in the bottom 90% in the US has a lot more in common with a factory worker than a 1%er.

Wealth held by the 1%-



Also this wage data doesn't account for the reduced contribution that employers now make to retirement and health insurance.

Just for comparison you could look at how CEO compensation has fared:

CEO Realized Compensation Relative to Compensation of Production/Non-Supervisory Workers:

1973: 23.4
2020: 346.7

CEO Granted Compensation Relative to Compensation of Production/Non-Supervisory Workers:

1973: 17.2
2020: 198.5

https://www.epi.org/publication/ceo-pay-in-2020/

I don't personally care much what CEOs get paid. Only pointing out that instead of getting screwed [flat compensation] they have done quite well.
You did not respond to my comments, you just posted liberal socialist propaganda.
post 1653848353 01-06-2022, 03:39 PM
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Originally Posted By r32gojirra⏩
If you believe that the price of goods in a market economy is determined by supply and demand; then where is that growth in CEO remuneration coming from; at whose expense?
Not sure that it could be exactly calculated. Could be from employee compensation, increased automation, reduced shareholder value [bottom line profit].

I just wanted to get ahead of the general sentiment that bringing up CEO pay is sour grapes and a false sense of entitlement vs. potentially a measuring stick of employee compensation.

The numbers I posted are "X Average Worker Pay". So realized CEO compensation went from roughly 24X the compensation of an average worker in 1973 to closing in on 350X [] average worker pay in 2020.

That could be seen as a strong signal that average workers got hosed.
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post 1653848453 01-06-2022, 03:41 PM
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Originally Posted By katya422⏩
Can't say what the locals in India might get up to. Indian people are often doctors, IT professionals, and business owners.

On the flip side I can say that it must retard wages for those employed in call centers in the US.

What a garbage response
post 1653848643 01-06-2022, 03:44 PM
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Originally Posted By katya422⏩
Not sure that it could be exactly calculated. Could be from employee compensation, increased automation, reduced shareholder value [bottom line profit].

I just wanted to get ahead of the general sentiment that bringing up CEO pay is sour grapes and a false sense of entitlement vs. potentially a measuring stick of employee compensation.

The numbers I posted are "X Average Worker Pay". So realized CEO compensation went from roughly 24X the compensation of an average worker in 1973 to closing in on 350X [] average worker pay in 2020.

That could be seen as a strong signal that average workers got hosed.
It's nice that you have this safe space of a message board to explain your convoluted thoughts about fairness and equity, because in the real world no one gives a chit Karen.
post 1653848783 01-06-2022, 03:46 PM
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The market basket of goods has changed incredibly over that period tho, hasn't it?

EVERYONE has a smart phone, flat screen and Internet, cab drivers have iPhones
Smooth Seas don't make Strong Sailors. Keep your head up.

MrWhiskey24 for jolly cooperation (PS)
post 1653848943 01-06-2022, 03:51 PM
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Originally Posted By katya422⏩
Not sure that it could be exactly calculated. Could be from employee compensation, increased automation, reduced shareholder value [bottom line profit].

I just wanted to get ahead of the general sentiment that bringing up CEO pay is sour grapes and a false sense of entitlement vs. potentially a measuring stick of employee compensation.

The numbers I posted are "X Average Worker Pay". So realized CEO compensation went from roughly 24X the compensation of an average worker in 1973 to closing in on 350X [] average worker pay in 2020.

That could be seen as a strong signal that average workers got hosed.
Originally Posted By MrBourbon⏩
The market basket of goods has changed incredibly over that period tho, hasn't it?

EVERYONE has a smart phone, flat screen and Internet, cab drivers have iPhones
And everyone works more hours, needs more education for an entry level job and can’t afford a house on a single income

Great news about the smart phones though
post 1653849013 01-06-2022, 03:52 PM
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So what you're telling me is that the average wage has actually increased? Isn't that the goal? It is definitely not realistic to think an unskilled random person would make some crazy amount compared to an unskilled random from 1970. In fact I'd expect them to make the same, or even less nowadays given the competition from automation.

These kind of threads always make me wonder - how does a person making the median wage live compared to the same person in 1970 as far as lifestyle? I bet the guy today would have absolutely no money problems if he lived like a guy from the 70s, one car family, 1100 sqft home, no cell phones, 1 TV, no cell phone, no subscriptions, no lawn care guy, rarely going to restaurants, no delivery services, etc...

Someone should do a documentary and live like a person from 1970 for a year, see how much extra money they have.
post 1653849133 01-06-2022, 03:56 PM
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Originally Posted By soaponarope1⏩
So what you're telling me is that the average wage has actually increased? Isn't that the goal? It is definitely not realistic to think an unskilled random person would make some crazy amount compared to an unskilled random from 1970. In fact I'd expect them to make the same, or even less nowadays given the competition from automation.

These kind of threads always make me wonder - how does a person making the median wage live compared to the same person in 1970 as far as lifestyle? I bet the guy today would have absolutely no money problems if he lived like a guy from the 70s, one car family, 1100 sqft home, no cell phones, 1 TV, no cell phone, no subscriptions, no lawn care guy, rarely going to restaurants, no delivery services, etc...

Someone should do a documentary and live like a person from 1970 for a year, see how much extra money they have.
But that's not fair, Kataya wants them to be better off. Why? Because she thinks they deserve it.

potato thread
post 1653849213 01-06-2022, 03:58 PM
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Originally Posted By soaponarope1⏩
So what you're telling me is that the average wage has actually increased? Isn't that the goal? It is definitely not realistic to think an unskilled random person would make some crazy amount compared to an unskilled random from 1970. In fact I'd expect them to make the same, or even less nowadays given the competition from automation.

These kind of threads always make me wonder - how does a person making the median wage live compared to the same person in 1970 as far as lifestyle? I bet the guy today would have absolutely no money problems if he lived like a guy from the 70s, one car family, 1100 sqft home, no cell phones, 1 TV, no cell phone, no subscriptions, no lawn care guy, rarely going to restaurants, no delivery services, etc...

Someone should do a documentary and live like a person from 1970 for a year, see how much extra money they have.
Debt and bankruptcy have skyrocketed, as have suicides and overdoses from addicitions. None of those are good metrics - I don't want to see all business owners slaughtered and all private property confiscated like marxists do, but on our current trajectory society is not in a healthy place.
A million miles away - I don't.. feel.... anything.
http://www.youtube.com/watch?v=PXGZu4yxjW0
post 1653849283 01-06-2022, 03:58 PM
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Originally Posted By Visel⏩
Look at the past, look at the now, but realize you're just one person and even if you can fathom a better future from a change - whether it's tripling everyone's wages, changing tax policies, whatever - it's still out of your control.

Use this as fuel if you'd like to stick it to the old person that tells you how easy you have it and "Back in my day I had to walk 5 miles to school and had to work as a child to help my family survive."

But other than that, just realize this is the world we're in. This is the country we're in.Do what's in your power to do. Whether that means move to another country with better CoL/wages ratio, or doing something within your power to increase your own annual wages.
Working on it. Currently in the mix:

- Pilates instructor
- video editing
- writing of some kind
- raising goats
- moving to a more affordable country...though that's quite a leap
Originally Posted By atgbrahsrs⏩
so what reforms do you want katya?

right now you sound like a full-time mum whose husband makes only 75,350 USD per year
Formerly. More or less "poor widow" at the moment. I could go for:

- a base wage that will support an individual full time worker without government assistance
- a public healthcare option
- sound money
- term limits or maximum ages for Federal pols
- open primaries
- more public disclosure [sunshine] of government/government agencies

Not holding my breath though. The thread was mostly inspired by an earlier thread about pay for EMTs vs. pay for fast food workers.
Originally Posted By nothingshocking⏩
You did not respond to my comments, you just posted liberal socialist propaganda.
I thought I posted some numbers/fact related to what you were asking. I don't own any stock at present, though I have in the past. I also worked for a broker-dealer for a while.

I've got nothing against investors making a profit for providing value. I'm less of a fan of companies making money by being crummy.

Also believe that when inequality becomes too extreme civilizations tend to become authoritarian misery machines or their is a rebellion/overthrow of the wealthy. Both eventually lead to collapse which seems like a bad thing.
Originally Posted By nothingshocking⏩
It's nice that you have this safe space of a message board to explain your convoluted thoughts about fairness and equity, because in the real world no one gives a chit Karen.
What? You believed that I though anyone really did? I'm too old for that.
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post 1653849493 01-06-2022, 04:02 PM
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idk, I on other hand think a lot of things should be privatised and less than 10% of people should have children

non-STEM university also should be banned

that will fix most issues tbh as the genetic waste will be terminated
communist until you get rich
rightwing until financially secure
atheist until the plane starts falling
slootist until you get married
muslim after you get married
post 1653850013 01-06-2022, 04:09 PM
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#46
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Originally Posted By soaponarope1⏩
So what you're telling me is that the average wage has actually increased? Isn't that the goal? It is definitely not realistic to think an unskilled random person would make some crazy amount compared to an unskilled random from 1970. In fact I'd expect them to make the same, or even less nowadays given the competition from automation.
$4.03 was the average wage for a production worker. I don't believe that it was the wage of an unskilled worker as the minimum wage in 1973 was $1.60 an hour.
Originally Posted By soaponarope1⏩
These kind of threads always make me wonder - how does a person making the median wage live compared to the same person in 1970 as far as lifestyle? I bet the guy today would have absolutely no money problems if he lived like a guy from the 70s, one car family, 1100 sqft home, no cell phones, 1 TV, no cell phone, no subscriptions, no lawn care guy, rarely going to restaurants, no delivery services, etc...

Someone should do a documentary and live like a person from 1970 for a year, see how much extra money they have.
Could be a cool little series. Maybe you should pitch it to Netflix.
Originally Posted By nothingshocking⏩
But that's not fair, Kataya wants them to be better off. Why? Because she thinks they deserve it.

potato thread
No. Because extreme inequality leads to economic collapse.



https://capitalinstitute.org/blog/wh...omic-collapse/
Originally Posted By seanb1979⏩
Debt and bankruptcy have skyrocketed, as have suicides and overdoses from addicitions. None of those are good metrics - I don't want to see all business owners slaughtered and all private property confiscated like marxists do, but on our current trajectory society is not in a healthy place.
Deaths of Despair:
The term deaths of despair comes from Princeton economists Anne Case and Angus Deaton, who set out to understand what accounted for falling U.S. life expectancies. They learned that the fastest rising death rates among Americans were from drug overdoses, suicide, and alcoholic liver disease. Deaths from these causes have increased between 56% and 387%, depending on the age cohort, over the past two decades, averaging 70,000 per year.

Case and Deaton learned that these deaths disproportionately occurred in white men who had not earned college degrees.
https://www.statnews.com/2021/12/29/...-immiseration/
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post 1653850213 01-06-2022, 04:11 PM
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Originally Posted By katya422⏩
I thought I posted some numbers/fact related to what you were asking. I don't own any stock at present, though I have in the past. I also worked for a broker-dealer for a while.

I've got nothing against investors making a profit for providing value. I'm less of a fan of companies making money by being crummy.

Also believe that when inequality becomes too extreme civilizations tend to become authoritarian misery machines or their is a re0bellion/overthrow of the wealthy. Both eventually lead to collapse which seems like a bad thing.
I asked you to explain why the average factory worker deserved an increase in real wages. The fact that their wages kept pace with inflations means by definition that they are equitably compensated vs the base period.



Do you understand that every for profit business is in business to benefit it's owners?

The owners of a business do not take kindly to their CEO and CFO reappropriating their profits to benefit employees unless that reappropriation will provide some benefit greater than the cost spent.

Your comments are naive and idealistic.
post 1653850413 01-06-2022, 04:15 PM
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Yeah, but the disconnect most that is that the Fed intentionally causes inflation, which increases loss of business owners, not just laborers, but then the businesses owners are the ones blamed because they aren’t increasing wages of positions that already have little wiggle room. unskilled, uneducated, and inexperienced…these are positions for low output workers that the fed expects to get paid high output wages because of the inflation THEY created.

But yet, it’s capitalism that’s at fault, even though monetary manipulation by the federal government is not technically capitalism…
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post 1653850603 01-06-2022, 04:18 PM
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Originally Posted By Rajc⏩
katya cant help but IQmog miscers every day lmaoo
found a bigger more naive potato than Katya
post 1653850633 01-06-2022, 04:18 PM
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Op, who was standard of living gains? Read economist Sowell's Discrimination and Disparities. He obliterates your claims that we live in such an economically unjust society. Stop complaining, grab your phucking balls and get out there.
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post 1653850873 01-06-2022, 04:22 PM
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Originally Posted By nothingshocking⏩
I'm not sure your point. Factory worker's wages have increased with inflation. Why would they deserve higher real wages than 48 years ago? The factory worker is not responsible for increases in efficiency of production, why do they deserve the benefit?

The increases in efficiency and productivity make the company more profitable as long as it does not return those increases to the workers.

Who benefits from the increases in efficiency and productivity? The owners, the shareholder. Do you own stock? Guess what makes your stock portfolio go up in value? Why does the factory worker deserve my return on investment?
its not that simple though. In the uk the vast majority of blue collar workers are on government subsidy (either income support, housing, free sh!t etc etc).

The owners of megacorp xyz own the political process as well, which is how they get away with it. If the market determined wages, most workers would be doing rather better than they are
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1653851223 01-06-2022, 04:26 PM
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Originally Posted By katya422⏩
Can't say what the locals in India might get up to. Indian people are often doctors, IT professionals, and business owners.
We only get the wealthy or very intelligent Indians over here. Most are good people but do not represent the "average" Indian.

Indians in India on average have a very low IQ. It's 82. srs. No way in hell we should import more of them.
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post 1653851263 01-06-2022, 04:27 PM
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Originally Posted By samsbolton⏩
its not that simple though. In the uk the vast majority of blue collar workers are on government subsidy (either income support, housing, free sh!t etc etc).

The owners of megacorp xyz own the political process as well, which is how they get away with it. If the market determined wages, most workers would be doing rather better than they are
That's why we dumped your tea in the harbor and told you guys to Fuk off.
post 1653851633 01-06-2022, 04:33 PM
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Originally Posted By nothingshocking⏩
That's why we dumped your tea in the harbor and told you guys to Fuk off.
im certain its the same in your country, tosspot
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1653852433 01-06-2022, 04:49 PM
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Originally Posted By MyBaddBrah⏩
Op, who was standard of living gains? Read economist Sowell's Discrimination and Disparities. He obliterates your claims that we live in such an economically unjust society. Stop complaining, grab your phucking balls and get out there.
Sowell makes a good argument that the standard of living keeps increasing, but the disparity between blacks and whites continues to increase with government interference. In other words, whites progress faster while blacks progress ever slower due to liberal policies.

I’ve told Katya to read his stuff before, but you can never get too much of sowells logic.
One party system; Most Republicans are Democrats, but no Democrats are Republicans.
Hayek and Mises were right; they're all socialists.
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post 1653852703 01-06-2022, 04:55 PM
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Inflation is theft



Necessities are becoming exponentially more expensive while consumer goods are becoming cheaper

Up till the 70s a family could afford a house, car and modest holidays every year on one income
Plant the trees in whose shade your grandchildren will play
post 1653853343 01-06-2022, 05:07 PM
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Originally Posted By moosik85⏩
Inflation is theft



Necessities are becoming exponentially more expensive while consumer goods are becoming cheaper

Up till the 70s a family could afford a house, car and modest holidays every year on one income
What do you know...every sector where the free market is stifled is MORE EXPENSIVE.
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post 1653854633 01-06-2022, 05:28 PM
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Originally Posted By MyBaddBrah⏩
What do you know...every sector where the free market is stifled is MORE EXPENSIVE.
Governments suffer no repercussions from making things more expensive and inefficient
Its the opposite actually bureaucracies benefit from making things more expensive and harder to complete, it keeps them in work
Plant the trees in whose shade your grandchildren will play
post 1653854963 01-06-2022, 05:35 PM
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Originally Posted By moosik85⏩
Governments suffer no repercussions from making things more expensive and inefficient
Its the opposite actually bureaucracies benefit from making things more expensive and harder to complete, it keeps them in work
Bureaucrats would be out of a job if word got out they were doing more harm than good. They never look for the negative effects of their policies, only cherry pick the good. Thomas Sowell spent a year in politics before he realized he developed a reputation because, while attempting to find the truth, realized their work was doing great harm. He had to leave politics and got in to teaching instead
One party system; Most Republicans are Democrats, but no Democrats are Republicans.
Hayek and Mises were right; they're all socialists.
"To Call something fair or unfair is a subjective value judgment and not liable to any verification" Ludwig Von Mises
post 1653855533 01-06-2022, 05:49 PM
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#60
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inflation is a good thing according to msm
Atlanta Falcons!!!
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