Stealing From the Poor and Middle Class

LaborProduc_0Since the early ’90s, I have been telling folks that government policy has been keeping wages down and profit margins high. This is the direct result of endless stimulus programs engineered by the world’s richest people. Notice the acceleration in the skewed income distribution following the passage of the Full Employment Act of 1978 (Humphrey-Hawkins) This act requires government to engage in central economic planning. Central economic policy always enhances the income of the one group that is wealthiest enough to dictate to the president and Congress what economic policy will be.

During a period of increased labor productivity, living standard in a free market increase by leaps and bounds. Of course this didn’t happen. Instead the natural productivity bonus due workers was stolen by government and given to the rich.

 

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