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The American Way

headphonegut
Posts: 4,122
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12/10/2014 3:35:40 AM
Posted: 1 year ago
At 12/3/2014 10:45:58 PM, s-anthony wrote:
A very interesting and revealing article: http://www.pbs.org...

Why not post your thoughts on the article and not just the article itself?
crying to soldiers coming home to their dogs why do I torment myself with these videos?
debate_power
Posts: 726
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12/10/2014 2:30:37 PM
Posted: 1 year ago
At 12/3/2014 10:45:58 PM, s-anthony wrote:
A very interesting and revealing article: http://www.pbs.org...

Nothing about that surprises me... the whole point of capitalism is to extort a large group of people so a small group of people can make most of the money for working less or not at all. It's strange how so few people actually see it for what it is.
You can call me Mark if you like.
s-anthony
Posts: 2,582
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12/10/2014 9:16:53 PM
Posted: 1 year ago
It's an article by billionaire and venture capitalist Nick Hanauer, written in Making Sense, a publication by PBS.org.

This article is his argument: overtime pay determines the minimum wage for middle income earners in the American economy.

In the sixties and seventies, 65% of salaried employees were eligible for overtime pay, forcing employers, in an attempt to keep the cost of labor down, to hire additional employees to meet labor demands. Since the beginning of the 1980's, the number of salaried employees eligible for overtime pay dropped to 11% (wage earners making less than $23,660.00 a year,) which has allowed employers to demand a greater number of hours worked from fewer employees, in effect driving up the rate of unemployment; a greater supply of workers means more job candidates vying for fewer jobs, driving down the cost of labor.
s-anthony
Posts: 2,582
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12/11/2014 10:29:35 PM
Posted: 1 year ago
Nothing about that surprises me... the whole point of capitalism is to extort a large group of people so a small group of people can make most of the money for working less or not at all. It's strange how so few people actually see it for what it is.

I don't believe capitalism is evil. I believe unregulated capitalism or capitalism not made temperate by socialism is unhealthy for society.