07-21-2016, 10:39 PM
Perhaps the most remarkable stuff from that McKinsey study mentioned in the post above isn't so much the fact that in a country like Sweden wages aren't stagnant, it is what was said about the US:
This really is remarkable, why? For four decades wages have essentially been stagnant, now that there is a president that has actually taken some action to combat that (higher taxes on the rich, Obamacare and the US doesn't look as bad as many other advanced countries, a revolt on the right brakes out, which sees Obama and trade as the bogeymen.
Quote:In the United States, lower tax rates and higher transfers turned a decline in market incomes for four-fifths of income segments into an increase in disposable income for nearly all households.
This really is remarkable, why? For four decades wages have essentially been stagnant, now that there is a president that has actually taken some action to combat that (higher taxes on the rich, Obamacare and the US doesn't look as bad as many other advanced countries, a revolt on the right brakes out, which sees Obama and trade as the bogeymen.