Can we call it class war yet? (Corporate profits are at an all-time high; wages are at an all-time )

[Huey P. Long]

Monday, Jul 2, 2012 08:52 AM CDT
Can we call it class war yet?
Corporate profits are at an all-time high; wages are at an all-time low
By Sarah Jaffe

This week, David Segal at the New York Times broke the news to America that not only was Apple — the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity — making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.

Apple store workers, he wrote, make up a large majority of Apple’s US workforce — 30,000 out of 43,000 employees in this country — and they make about $25,000 a year, or about $12 an hour.

Lawrence Mishel at the Economic Policy Institute notes that’s just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011. “The discrepancy between Apple’s profits/executive pay and its compensation to its workers is a particularly glaring example of what is occurring in the wider economy,” Mishel writes.

And he’s right. Also this week, Henry Blodget at Business Insider posted three charts that show just how out of whack our economic system really is. Corporate profits are now at an all-time high, while wages as a percent of the economy are at an all-time low, and fewer Americans are currently employed than at any time in the previous three decades.

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http://www.salon.com/2012/07/02/can_we_call_it_class_war_yet/

[Responsible]

1. What does anyone suggest should be done because of this?

What's the answer?

[xtraxritical]

2. Same answer as the civil rights movement - HIT THE STREETS AND BURN EM DOWN.

[TBF]

5. What do you think should be done? nt

[FiveGoodMen]

3. We should have been all along!

[TBF]

4. Yet? Can you tell me a time in history that it hasn't been class war?

And it isn't because of the workers ... but judging by your username I think you're probably well aware of that.

It's nice to see some of this starting to turn up in more mainstream sources like Salon.

[Huey P. Long]

6. That is the title of the article.

If you click the link and perhaps read the srticle, you would see that. Maybe not though.
In any event, I simply copied the title given by the Salon author. If you have a complaint about it, I suggest you write them, assuming you bother to click, that is.

[TBF]

7. No need for nastiness-

I think it's good that you posted it. Try not to be so defensive.