Monday, March 27, 2006

"trickle down economy" my ass. Wage gap widens

If the WSJ is talking about bad wage news, then you know things have gotten real bad.


And in a "Duh!!" moment, the brainiacs at WSJ came up with this realization (only a couple of years too late):


Since the end of 2000, gross domestic product per person in the U.S. has expanded 8.4%, adjusted for inflation, but the average weekly wage has edged down 0.3%.


That contrast goes a long way in explaining why many Americans tell pollsters they don't believe the Bush administration when it trumpets the economy's strength.


Well, since basically everyone living in the reality based community is at odds with the cheery but inaccurate projections of Bu$hCo, this is hardly a shocker.


We have seen a number of articles that discuss how many more people are living in a dire financial situation.  We have seen states take the lead on raising the minimum wage.  And we have seen some very good analyses by bonddad and Jerome a Paris on these items.


Hell, we saw articles and studies in 2005 and in 2004 that say how wages haven't kept up with inflation and consumer costs.


But surprise, surprise, the Bush tax cuts have had the effect of WIDENING the gap between high and low wage earners.  And guess what one of the biggest culprits is - health care costs and other payroll related costs, which in turn gets passed along to the employees in the form of crap raises.


Another factor holding down wages is that employer-paid health benefits, pensions and payroll taxes have risen almost 16% since 2000, making employers less generous with wages.


In addition, it appears that the highest-salaried workers -- executives, managers and professionals -- are widening their lead on the typical worker.


The Bush tax cuts appear to have widened the income gap, according to many analyses. They increased take-home pay of almost all working Americans, but boosted it most for those at the top. Mr. Swagel, acknowledging that cuts in taxes on capital gains and dividends benefit the affluent in the short run, argues that they will benefit all workers in the long run as they spur investment and higher productivity.


Still, the gap between the wages of the highest- and lowest-paid workers has continued to widen. Based on Labor Department data, Mr. Bernstein estimates the weekly wage of the worker at the 10th percentile -- the one earning less than 90% of all workers -- fell 2.7% from 2000 to 2005, adjusted for inflation. The wage of the worker at the 90th percentile rose 5.3%.


Of course, the overlooked part of this is that for all but a small portion of the population, BOTH weekly wages and total income has dropped since 2000.  


This chart pretty much summarizes it:



But don't worry, say trickle down apologists and other greedy bastards - it will eventually work our for the worker as well.  Just maybe not in time for the next hurricane, unexpected illness, car breakdown, gas price increase or other unexpected event.


According to Treasury Secretary John Snow:

[he] argues that inequality has narrowed since Mr. Bush took office. His staff calculates that the richest 20% of U.S. taxpayers saw their average after-tax income, defined broadly to include capital gains, fall 9.4% from 2000 to 2003, the latest year for which data are available. The middle 20% had a drop of 0.2%; the bottom 20% had a rise of 1.6%.


Either way, no matter how you slice it, those are pretty shitty numbers to be "touting" as part of an economic expansion.  And leave it to the good folks at the WSJ to put a shiny happy spin on it:


History suggests that with unemployment low and growth steady, the typical family will see its income rise noticeably. As that happens, Americans' spirits will rise, as well.



Um, too bad history doesn't have much of a reference point for the total and utter destruction of the economy, the environment and the world trust in the US and the US dollar.  Add that to the fact that the US doesn't "make stuff" anymore, and you wonder if history even has a frame of reference here.

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It is true, there is a lot on the net about [url=http://nhommuadeal.com/thoi-trang.html]Thoi trang nam[/url], but we have found it to be scattered all over the place. Perhaps you could have figured out that not all you have discovered will apply to you. There are many trustworthy resources about it, plus other related aspects that you have to take into account, as well. Yes, it can be disheartening when you think you have all you need, but you really do not. The net is massive, indeed, and it can be really aggravating if you cannot quite nail down the final pieces of the puzzle. Here are a couple of things we have found out about this topic, and hopefully it will be a few more pieces of the puzzle for you.

The relative difficulties of men's and women's style

Both men and women may feel the demands of keeping their clothing up-to-date and in season, yet men's fashion often feels a lot easier. Of course, for both sexes, outfits and fashion choices could be just as complicated, and there are numerous'stylish'items which could rapidly become fashion faux pas - who can say they often see people travelling in 70s flames? On the other side, men's style features a few choice items which can exist eternally - which man is planning to look out of place with a good-quality, tailored suit, for instance? Select traditional pieces, colors and fabrics and you'll never look out-of-place.

Why classic men's style is amazing

The traditional man's suit has scarcely changed for over a hundred years. True, there are several versions for different functions, but they are all common in their quest for a wise, sharp search for the wearer. The great thing about classic fashion for men is that it is simply trendy effectively cool. A well-groomed gentleman can typically look his sharpest in a well-tailored suit, and this can be a testament to the design of such clothing. A suit will undoubtedly be used to work in many jobs because of the professional search it affords to the wearer, instilling a sense of respect and trust. Equally a suit will undoubtedly be worn to many social occasions, such as a tuxedo to a black-tie event. This amazing versatility that allows matches to be utilized in almost all events is what gives it its eternal border and a permanent place in men's fashion.

Modern trends in classic men's style

Although classic men's designs will never be changed, it is interesting to remember that changes in men's fashion trends have brought particular basic garments back into fashion. The popularity of vintage clothing, specially, has brought back a wide-variety of common models into men's wardrobes, such as that of the dandy guy. 'Dandy'is a term used to refer to men who dress yourself in a classic yet elegant way, acting in a refined approach and placing value on appearance. This pattern for nearly'over-the-top'common style for men is apparent from events like the'Tweed Run', where men and women of all ages clothe themselves in especially Victorian-style attire and decide to try the roads on vintage bikes - with lots of the men sporting flawless mustaches! This really is just one of several types of proof displaying the resurgence of such types. Additionally, there are numerous blogs online which concentrate on gentlemanly style - such as'The Dandy Project'and'Dandyism'- as well as complete internet sites such as'The Art of Manliness'specialized in providing articles on common men's fashion and grooming.

In summary, whilst certain areas of traditional men's style could be cut back as new styles, the simple clothes which they are based on will never fall out of fashion.

"All it takes are a few simple garments. And there's one secret - the easier the better." - Cary Grant

StyleGun is an online men's fashion store with a technical perspective.
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