Companies making more money (profits) does not necessarily translate to more jobs. Corporations, particularly the BIG ones, are recording record-breaking profits. But there are a ways to make profits, besides selling more of your product. You can cut costs - employ less people, work them harder, pay them less, give them fewer benefits, export jobs overseas, take advantage of overseas tax havens, raise prices and get laws created in your favor (such as environmental deregulation). The simple fact remains that jobs will not be created in sufficient quantities until consumers have adequate funds to buy the products/services, thereby creating a demand for expansion, resulting in jobs.
The argument that if the 1% get richer, then so do the 99% is not exactly accurate, particularly in the last decade. The top 20% do (not by much!), but the other 80% are flat-lined or declining. Check the graphs in the attached, "Winners Take All" really demonstrates the situation.
Inequality
10-17-2011, 01:52 PM
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