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The “Middle Class” Myth: Here’s Why Wages Are Really So Low Today (Demo)

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By Gary Reber Uncategorized September 1, 2016

The "middle class" myth: Here's why wages are really so low todayEnlarge(Credit: AP/Darron Cummings)

On December 30, 2013, Edward McClellan writes on Salon:

…The argument given against paying a living wage in fast-food restaurants is that workers are paid according to their skills, and if the teenager cleaning the grease trap wants more money, he should get an education. Like most conservative arguments, it makes sense logically, but has little connection to economic reality. Workers are not simply paid according to their skills, they’re paid according to what they can negotiate with their employers. And in an era when only 6 percent of private-sector workers belong to a union, and when going on strike is almost certain to result in losing your job, low-skill workers have no negotiating power whatsoever….

http://www.salon.com/2013/12/30/the_middle_class_myth_heres_why_wages_are_really_so_low_today/

If we are to truly and significantly raise the economic status of the vast majority of Americans, then we must attain parity with the already wealthy capital asset OWNERSHIP class in attaining capital asset OWNERSHIP. Through economic policy reform, which includes the role of the Federal Reserve Bank, we need to empower EVERY child, woman and man to acquire individual OWNERSHIP participation in the formation of FUTURE wealth-creating, income-producing capital assets using INSURED, INTEREST FREE capital credit, repayable out of the FURURE earnings of the investments in our economy’s growth, without the requirement of past savings or any reduction in wages or benefits if one is employed. In other words, creating new capital OWNERS can be achieved using INTEREST FREE capital credit financing based on the logic of corporate finance, which is investments in new capital asset projects MUST pay for themselves in a reasonable period of time, typically 3 to 7 years.
 
The reforms necessary to achieve this economic equality in opportunity are embodied in the proposed Capital Homestead Act or Economic Democracy Act.
 
 
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