LOW WAGES: 4 Reasons WAGES Haven't Gone Up Since 1973

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Why are wages so low? What is the cause for low wages in America? In this video, I go through the complicated topic of wages. I walk you through some trends I've noticed and why wages haven't been tracked with productivity since the 1970s.
📖 TABLE OF CONTENTS:
0:00 Wages Have Not Tracked Productivity Since the 1970s
1:57 CEO Pay VS Worker Pay
2:42 Minimum Wage
4:40 Universal Basic Income
5:19 Low-Wage Workers
8:10 Outsourcing Work
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Sources
- Economic Policy Institute Study: www.epi.org/publication/under...
- CEO Pay Study: www.epi.org/publication/ceo-c...
- Historical Minimum Wage Data: www.dol.gov/agencies/whd/mini...
- History of the Minimum Wage: www.dol.gov/agencies/whd/mini...
- Inflation Calculator: www.in2013dollars.com/us/infl...
- Andrew Yang's UBI Proposal: www.yang2020.com/what-is-free...
- Democrats' Position on Raising the Minimum Wage: edlabor.house.gov/download/fa...
- Who Employs Low-Wage Workers: www.nelp.org/wp-content/uploa...
- Uber Driver Earnings: www.epi.org/publication/uber-...
- Small-Scale UBI Experiments: www.cbsnews.com/news/universa...
- National Low-Income Housing Coalition Study: reports.nlihc.org/sites/defau...
- History of Health Spending: www.cms.gov/Research-Statisti...
- Historical College Tuition Increase: www.cnbc.com/2017/11/29/how-m...
Summary of the Reasons:
Reason #1: CEO pay has increased rapidly since the 1960s and 1970s. The Economic Policy Institute found that CEO pay went up by almost 1000 percent over a similar period of time. In 1965 the average CEO made 20 times as much as their average worker, but when this study was released in 2019 that gap had increased to 278 CEO dollars for every one worker dollar. The money that was previously going back into working class paychecks has instead been going to CEOs for at least two generations.
Reason #2: We haven’t increased the minimum wage. Currently the federal minimum wage is just $7.25 per hour. The American minimum wage has a long history, it was first created in 1938, so toward the end of the Great Depression, and at that time the federal minimum wage was just 25 cents an hour. Now that sounds terrible but 25 cents in 1938 would be worth around $4.60 today, that’s not a great wage but it’s a lot more than 25 cents. From there the government gradually increased the minimum wage based on inflation and other factors, and it had reached one dollar per hour by the year 1956, which is equivalent to more than $9.50 today, which means that the minimum wage, at least at the federal level, has actually decreased by around 25 percent over the last 64 years.
Reason #3: Low-wage workers don’t have as much bargaining power. Minimum wage workers are generally replaceable, their jobs tend to be easier to automate out, and turnover is typically more common in low-wage positions compared to jobs with better pay. So when you consider the impact of all these factors it’s clear that people who are earning minimum wage or close to minimum wage won’t have much leverage when negotiating with their employer, especially if that employer is a large corporation.
Reason #4: Outsourcing puts pressure on wages. Obviously outsourcing isn’t new, it didn’t start in the 1970s, but the truth is that a reliable supply of cheap labor from other countries makes it easier for American companies to avoid paying higher wages to their American employees. The specifics are going to vary from case to case, but for example imagine that a business can pay workers overseas $5 per hour for the same work that they would have to pay $7.25 for in the US. So it’s not just that American workers are competing with other American workers, they’re also competing with people in other countries that may not have the same minimum wage or the same labor protections.

Опубликовано:

30 июл 2024

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Комментарии : 415

@searphhoney 3 года назад

Wages haven't increased, but employers requirements to get these jobs have definitely increased. Too many jobs requiring years of experience & a degree, but only paying $15-$17 an hour. Some of these employers need to humble themselves just like the employees.

@theresasmith3540 3 года назад

It's called bringing in labor from other Countries is the problem they get cheap labor and mass unemployment of us Citizens, Logan is a LIAR pushing a political agenda.

@TheMagache 3 года назад

@@theresasmith3540 And also going off the gold standard in 1971. When governments can print as much money as they want. That money generally stays at the top and never trickles down. You'll see company values inflate exponentially but wages stay stagnant. The job market was also extremely solid in the 50-70s era. You could quit your factory job at 9am and have a new job an hour later. This required employers to pay more to compete for labour against other businesses. Obviously with automation and cheap outsourced labour as you mentioned, this is no longer the case. It is now the workers competing against each other for a job. I also have no idea why Logan even mentions CEO salary as a reason for low worker pay. CEOs get paid a lot but their wage is quite negligible compared to company profit. Even if you were to pay a CEO zero and divide his wage up among all the workers beneath him. It would only equate to a wage increase of a 5-10 cents an hour.

@TheMagache 3 года назад

@Trillest Swordfish No? The gold standard limits the amount of money you can print to the amount of gold your country has. Now they can print how every much they want because its not backed by gold anymore. It isn't backed by anything.

@AERONOOB 3 года назад

16/hour is not that bad. If you think 16/hour is "only 16/hour" then please note that V8cars, Iphones and a pound of beef a day are not some basic needs or some magical human rights. 16/hour gives you a roof, food, water and clothing and a lot more. Its all good. And as I watch more and more videos on this topic iI realise that low wages still provide for smartphones and Nike shoes.

@jasonhoman6525 3 года назад

@@AERONOOB I think you’re missing the point that productivity in the US keeps going up and up yet wages aren’t increasing. Now unless you’re a CEO that benefits from this I’m not sure why you wouldn’t support that the working class gets what they’ve earned in increased productivity. We live in a system of concentrated centralized power which is the same critique of communism. It’s just CEOs instead of govt. Balance is what matters

@misterggg9808 3 года назад

The answer is simple without the spin. CORPORATE GREED. There is no need for explanation.

@misterggg9808 3 года назад

@Jasper Hall You are 100% correct and it just baffles the mind on how so many people are so stupid. When you explain that minimum wage today should be 23 dollars an hour if wages didn't stagnate starting in the late 70's they still can not put it together that the corporate greed has brought us to the failing economy situation we are in today. The American people don't have the control of wages and prices that is all corporate.

@cellocovers3982 3 года назад

The answer is never so simple, although that would make things easy. Of course greed is one factor, but that doesn't mean there aren't other significant factors. I believe the biggest one is that we don't invent as much as we used to. Before we had innovation is every sector of the economy. Energy, transportation, agriculture, etc. Now we only think of technology as the IT field, since that is the only field (except for recently the financial sector) where we have seen any meaningful innovation.

@misterggg9808 3 года назад

@@cellocovers3982 Corporate greed is a major factor in lack of innovation and technological advancement in our society. Many inventions have been bought out and shelved by oil companies and the United States has rules about inventions that can not be developed if it drastically changes our economy for example clean energy systems that would cost thousands of job losses. The capitalistic society we live in does not work anymore and we need to progress into a resource based economy and do away with money and jobs altogether and the goal is to enrich the lives of everyone. So the government will have to say no to real innovation and progress if it eliminates jobs and the corporate elite will say no if they can not make enormous amounts of money. It all boils down to money, greed, and power.

@cellocovers3982 3 года назад

@@misterggg9808 Yes but how is what you describe any different from how people tried to innovate in the past? Basically all innovations have powerful, greedy, entrenched interests that they have to overcome and ultimately replace. I would prefer that we at least try to lighten regulation and other things which make innovation difficult, before we say fuck it let's destroy the system and try something completely new. Capitalism has worked better in the past, and people don't even realize yet that innovation is barely happening. People have to realize that fact before we can start working to fix it. Perhaps you can enlighten me but I don't see how switching to a recourse based economy will help with innovation.

@misterggg9808 3 года назад

@@cellocovers3982 The reason why capitalism is not working anymore is it requires people to have good paying jobs to keep the system going. Starting around the late 70's wages began to stagnate while corporate earnings and wealth increased more then 200 percent as of today. Corporate greed has destroyed the balance. Our government has sold out to corporate interests in major ways of constant deregulation and prevention of business mergers that created monopolies and eliminated any real competition. With todays technology advancements in production it requires less workers then before to produce products and with companies like Amazon they continue to automate to reduce even more manual labor jobs. Every year 70 million people are added to the world population, and I remember during the 80's recession many people moved to other states to find work if they could, however today that reality has become even worse and will most likely continue to get worse. Many young adults today are getting a college education to find that the field they ventured in has no jobs available. The talk of Universal Basic Income began with Nixon during his term as President, as is looked at even more today, and that will be the first step towards a resource based economy. We build products today that don't last ON PURPOSE and that is just stupid and wasteful. In a resource based economy where everyone has a good standard of living and are provided for and the motive is no longer monetary wealth gain for the minority of people, then products and services will be designed to be the best and last a long time. We have great technological advancements today and the pace will become exponential, however to really see these advancements requires the human race to evolve along with these changes.

@christhrockmorton8038 3 года назад

If people were paid more in wages then we would need less food stamps or medicaid.... I work 2 jobs and still can't afford Medical coverage for my family... People are not afraid of hard work... We are just sick of breaking our backs for nothing, And I even have a college degree

@Boriqua76 3 года назад

God Bless you, your family, and your work ethic. I hope things get better my friend.

@Acid31337 3 года назад

In 1973 there was more of both with less price. Something actually happened, and good news it is probably not natural force, and thus can be undone.

@yamchayaku 3 года назад

I make like 30/hr in my job. And I live in Cali. 30/hr is barely even enough to live on here unless you're eating ramen and unhealthy shit.

@freedomordeath89 2 года назад

@@yamchayaku That's BS, you are privileged, you california whiners...always lamenting how you cant live onn 30/hour...try 7 /hour like the rest of the country.

@yamchayaku 2 года назад

@@freedomordeath89 sounds like the idiot knows nothing about how other areas can have higher cost of living. Try having a job for 30/hr when the surrounding area's houses cost a million and gas is 4+ a gallon. 30 probably is livable... If you live in the sticks... but a lot of the work that requires a higher minimum of intelligence don't exist there.

@dougfoster445 2 года назад

I went to school for 4 years to become an electrician. Worked for my company for 5 years and yesterday they offered me a 75 cent raise to 19.75 an hour. America is doomed.

@angrydragon4574 2 года назад

I would recommend job hopping if you can. Realistically with your qualifications you shouldn't br making less than $40 an hour.

@dougfoster445 2 года назад

@@angrydragon4574 I agree! I actually went back and told them I’d have to quit for that wage and they fired back with a 25% increase which i am happy with

@fabiancanada8876 6 месяцев назад

Wow come to Nova Scotia you make 100/h.

@herrerachannel2367 3 года назад

Corporate greed is destroying the average Joe. Coronavirus just aggravated a problem that was already there.

@stuckinthemud4352 3 года назад

Red white and blurred channel. Look up the video on labor and productivity Educate yourselves

@angrydragon4574 2 года назад

@@stuckinthemud4352 That's just another excuse by billion dollar corporations to rip you off. Thanks for being a corporate tool.

@stuckinthemud4352 2 года назад

@@angrydragon4574 so you actually watched it?

@anonymousgoogle8462 3 года назад

I had jobs where I worked my butt off. Never got much of a boost in wages. My managers kept me around because they got a lot of boom for their buck. Man, I was stupid and young, must of had low self esteem.

@raza838 3 года назад

Same here. I know for a fact that I was very stupid when I got excited for a 10-20 cent raise ONCE PER YEAR making under $10. Used to work my ass off, ended the day sweating. (Inside/Air-conditioned job btw). Fast forward a year later, I got a job paying more than twice what I was making... I barely even get off my ass. I'm making it my job to teach my children to know their worth and not make my mistakes.

@improvisedchaos8904 3 года назад

I've not got a raise in 2 years and work two one man cells. Fuck this job. I only make $15 an hour and the new hires make more than me by over a dollar

@angrydragon4574 2 года назад

@@improvisedchaos8904 I'm so sorry.

@brandonallen5566 2 года назад

Wonderful summary. Still living with my mom because I can’t afford to move out being single and have no one I can trust to be a roommate. It’s sad but I know I’m not the only one in this position. We need some kind of overhaul for our economy!

@dougfoster445 2 года назад

Ur not alone. I went to school for 4 years to become an electrician. Worked for my employer for 5 years and make a measly 19 dollars an hour. I’m a foreman and still live with my mom at 35. Average shack where I live is 300k. Not possible.

@genxlife 3 года назад

I'll say it too. CORPORATE GREED is the primary reason why wages haven't gone up since 1973.

@cellocovers3982 3 года назад

That's only one factor and probably not the most significant factor

@LolLol-zr9jc 3 года назад

No it’s fiat money, corporations just took advantage of the lack of other businesses managing to find capital investment. There was corporate greed before 1973

@krisb3939 2 года назад

stop buying made i China and supporting these big corporations

@angrydragon4574 2 года назад

Judging by all of the prople defending these insane pay policies, we are doomed.

@LHKKKing 2 года назад

@@krisb3939 That would just cause a price going up for everything, China or East Asia got jobs true, but the reason they got the jobs is the lower cost. And even if you take the jobs back, what prevent corporate greed from deploying more automation instead of hiring human labor. They don't need people to flip burger, or driver to deliver goods, machine can do that and more job will be replace. Jobs are not outsourced to China, they are outsourced to the cheaper labor.

@gilly198 3 года назад

The harder y'all, the richer they get - we need a livable wage, not minium wage.

@ibnomad 3 года назад

vote!

@innocentrage1 3 года назад

Seriously, 50 years ago one income could get you a house, a car, and support a family of four on one income. Now, good luck on one income doing anything

@freedomordeath89 2 года назад

@@innocentrage1 That's a stupid argument. 50 years ago houses where just blocks of wood with plumbing if you were lucky. Cars were 1/100 tech, and you couldn't buy all the pc, tech stuff we own today. You don't need to compare THAT lifestyle to our lifestyle.

@bernardwatkins1759 Год назад

@@freedomordeath89 that's a stupid argument. There's many people working multiple jobs, that ride the bus and can barely eat. Cost of goods and services is too much for the low salary.

@freedomordeath89 Год назад

@@bernardwatkins1759 YOu commies will never understand economics...its pointless to talk to yall...you tried raising wages by decree 10000 times in the last century. IT DOESNT WORK. The economy is an ORGANISM, it can't be changed by DECREE. You are gonna f****k people over MORE than they are today. Its always the same bs. You claim you want to "help people" by raising wages, then you cause INFLATION and lack of supply and people starve.

@ac75911 3 года назад

Maybe time to move overseas as I see no end in sight for this in wonderful America. It's ironic because in South Korea, they have a surplus of overqualified college grads and workers who can't find jobs other than min wage, so their government has a program to help them find jobs in Japan and other countries that actually pay decently and need people.

@icecreamforcrowhurst 3 года назад

Move overseas? Like where? Unless you’re bilingual it’ll have to be an English speaking country. Britain? Laughable. After Brexit Britain is going in the tank. Maybe Canada?

@zuzanazuscinova5209 3 года назад

@@icecreamforcrowhurst how about you pick up a language? Unthinkable?

@kamark7017 3 года назад

@@icecreamforcrowhurst We have a housing crisis in Canada, Average wage is 40k but homes cost on average 900k. I'd love to switch with someone and move to the States.

@awsblacknight6956 2 года назад

@@kamark7017 but that's very much the fault of the government. If you live in Canada you know how there are insanely vast spans of land that are totally unused while our property prices are extremely high.

@yamchayaku 3 года назад

Employer demands a candidate to have 3+ years experience, a graduate degree and proficiency on X amount of programs. Then they offer only 56k/yr. Then the cost of living in the area offering the job, 60k/yr

@cushingpushing 3 года назад

Excellent video and very informative. Please make more videos like this.

@ac75911 3 года назад

Also, if you don't exactly match their laundry list job description, software rejects you. Might as well delete your own resume and submit one that's copy and pasted word for word from their job description. It seems there's very few employers and recruiters who are capable of deducing your skills and experience from even your listed job titles and duties. They've become lazy.

@improvisedchaos8904 3 года назад

I do this so i can get interviews

@taylorbug9 2 года назад

THANK YOU!!

@JS-jh4cy 2 года назад

So what do you are their system holds your fake resume in the interview you hand them your almost blank current resume?

@taylorbug9 2 года назад

@@JS-jh4cy what are you trying say? Jesus f**k that was a word salad my guy.

@Jayblez 2 года назад

Only way is to lie lie lie. They get what they pay for

@wendy7879 3 года назад

THANK YOU, for making this clear

@mactastic144 3 года назад

We're doing more a lot more work for the same wages.

@DarkMustard1337 2 года назад

And that is not even hyperbole...yet people are told they are making excuses for struggling...making a living implies, as a living human you were never entitled to one..its kind of gross

@christhrockmorton8038 3 года назад

Thank you for saying this period I've been speaking it in my circles it's nice for it to get more limelight and it's time for change....

@thatsmykid1955 3 года назад

Great video, thanks!

@patrickdeady410 3 года назад

Unions have been been declining for years, they help increase wages for workers they represent!!

@billbowman5738 3 года назад

Unions decline sped up by Reagons firing airlines unions in early 80s

@triciaknell4771 3 года назад

The Unions actually started to decline in the mid 1970s about the same time as the productivity and wages started to diverge. Unions were responsible for stabilizing wages, giving the poor working class and minorities voting power, reducing the wage gap between white and minority workers, ensuring safe work spaces, and much more. Corporations didn't like the power that Unions gave there workers so they started advocating for turning over a lot of the unions responsibilities to the government knowing full well that our country had grown too large for the government to police every corporation and worker. Then they systematically conned two entire generations into voting in laws banning unions under the guise of useless open door policies, promising that government policies made them obsolete. Now we are seeing our economy return back to 19th century level greed and corruption practices that occurred prior to unionization. hbr.org/2014/09/what-unions-no-longer-do This book is a good one about the downfall of unions and the effects it has caused.

@billbowman5738 3 года назад

@@triciaknell4771 starting decline yes accellerTed due firing of airlines union workers airlines been usurping money from govt administration's since it has become their go-to money flow

@patrickdeady410 3 года назад

@@billbowman5738 Totally agree, much of what we have now as benefits were the result of unions fighting for the workers!

@billbowman5738 3 года назад

@Neil Armstrong no it's just big dam fingers and vision loss in left eye

@UnrebornMortuus 3 года назад

Trickle down economics is a joke, I laughed at such bullshit when my economcis teacher in high school tried to "teach me" it's real, it never made sense to me.

@stuckinthemud4352 3 года назад

Red white and blurred channel Labor and productivity Educate yourself

@stuckinthemud4352 2 года назад

@@alexlee289 Your claim that the poor have gotten poorer is 100% probably false. U may be able to claim the rich have gotten richer but there is zero I repeat zero evidence that the poor have gotten poorer. Life in the last 100 years has gotten exponentially better everything from poverty to life expectancy has gotten better for everyone. Honestly if your poor for any length of time in America its because u have an addiction problem. Show me one person who is not on drugs or alcohol that is poor for any length of time? Im not talking about a teenager or young adult who just moved out. show me a grown ass non addicted adult that doesn't have food in their belly and a roof over their head? U could do the world a whole lot more good if u focused on ending addiction than complaining about people making money. just my opinion. Addiction is by far the worst problem Americans are facing. addiction and lack of family structure is destroying america. Im gonna go out on a limb and say u probably have an addiction that is holding u back. put down the bong bro and go to trade school. stop blaming everyone else for your failures.

@stuckinthemud4352 2 года назад

@@alexlee289 u use big words but your basically just trying to make the claim that voluntarily working for is slavery. Problem is the system u support has allways ended up using way more force than capitalism could ever dream of. Historically Marxist ideas either fail or lead to use of force to sustain it. I bet u cant find one example of Marxism functioning without the use of force. Can u tell me what happens in your ideal system if i choose to be a musician and suck at it? do i still receive the same amount of goods and services as a good musician? Furthermore in your system does a crappy guitar player recive the same amount of goods and services as the guy who cleans the sewer? In your system do u have to work or can i receive the same goods and services if i dont? What happens if i dont work in your system? In your system how does it address the imbalance of what people want to do and what work is needed to be done? what happens if u have too many musicians and not enough sewer cleaners? How do u solve this problem? Do u think economic growth is important or do u think the world has enough economic value to go around if we spread it out equally? I would love to see your answers to these questions.

@krisb3939 2 года назад

@@stuckinthemud4352 , I'm not lefty , but this is what God has said , so yes these big corporations / the rich have gotten greedy . James 5:1-6 Warning to Rich Oppressors 1 Now listen, you rich people, weep and wail because of the misery that is coming on you. 2 Your wealth has rotted, and moths have eaten your clothes. 3 Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. 4 Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. 5 You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter. 6 You have condemned and murdered the innocent one, who was not opposing you.

@dianar9165 2 года назад

Thank you u have helped me with real world and my assignments 🙌🙌🙌 thank you so much

@dianacramer8280 3 года назад

I still don't know why CEO get paid 7 figure incomes when the minimum wage people just barely make the bills. The less you make the harder the work is.

@carolyndavis6657 3 года назад

I have worked many low skilled jobs in my life but have never been paid minimum wage at any of them. My current employer just raised everyone to $15 per hour. I live in Alabama and 15 per hour here still makes it difficult to afford rent, utilities, food, travel and health care. What I've seen in my 65 years is that when unemployment is low employers pay more and offer more perks. They are competing for you. But when unemployment is high workers are a dime a dozen and exploited. I do believe corporate greed is part of the problem. Many of my coworkers were working 2 jobs before covid but our company restructured and everyone has to have open availability making 2nd jobs nearly impossible.

@Miranda-bj5nd 3 года назад

its awful. its a a never ending rat race for so many. I worked in hospitality for a few years and the burn out was very real. Alot of my check went to healthcare and I had to live with family because I could never get ahead even working 7 days a week

@Yandel21ableify 2 года назад

America has become a country of Haves and Haves not.

@rickmoran8644 3 года назад

Had to quit my part time. The wage became useless since the pandemic rose the cost of living.

@julias9920 3 года назад

Yes, these are the kind of issues that need voting on!!!

@superstacyrenee1 3 года назад

Thank you for educating ignorant masses about this gross inequity You should have a cable show on CNN. You are better than most anchors. Keep up the great work Logan!!!

@billbowman5738 3 года назад

@@superstacyrenee1 oh. No don't wish that on him special interests and political wrong doers would make his life an extreme hassle

@sterlingmurray7165 3 года назад

My biggest concern with universal income is that companies would raise the prices of their goods and services over time after taking that UBI into consideration. "Our consumers have more money, so we can raise our prices in order to obtain that additional profit."

@ohcheesy1559 2 года назад

Thats the whole point. Notice how politicians dont try to fix core issues instead of handing out money.

@freedomordeath89 2 года назад

YOur biggest concern with UBi should be that to give 1000 dollars a month to 320 million citizens, you need to spend 4 trillions a year. That's more than the current TOTAL US budget. UBI is unsustainable. only kids who never passed math lessons could think that we could pay everyone to not work.

@Prometheus7272 2 года назад

@@freedomordeath89 True but the current welfare system would be shelved in favor of UBI instead, at least that's the idea so you would have to take that away from the equation also not all 321 millions Americans are adults so they wouldn't get a UBI. But yeah it's questionable.

@freedomordeath89 2 года назад

@@Prometheus7272 No it wouldn't. The idea that you can remove welfare by giving people 1000 dollars a month is LAUGHABLE. Are you saying you would remove medicare and all welfare healthcare? HOW WOULD YOU? You saying that you would remove healthcare insurance? Or FORCE people to use those 1000 dolalrs to BUY insurance? At that point wtf are you even gaining from UBI if you get 1000 dollars by the state and then the state forces you to use those same 1000 dolalrs to buy insurance? Jesus you edgy kids dont even understand how the economy works. Have you ever READ a US balance sheet? Have you ever READ how many costs the state has? Its not jsut welfare. And no, even if you remove 100% of welfare, yous till have 2+ trillions of US budget to COVER. How do you COVER that + 3 trillions for UBI? HOW? Kid, explain to me how cna you pay 2 times the current budget. Please. EXPLAIN WITH NUMBERS Not with silly generalistic, superficial and dumbed down statements.

@alexh2790 2 года назад

@@freedomordeath89 It's called taxing businesses to offset their savings in payroll. If Universal healthcare works more efficiently than private care then I'm sure there is a way to make UBI work.

@anerdwithglasses7429 3 года назад

My countries wage is almost $20.00 an hour with annual leave and sick days which you as an employee are encouraged to take. You get 4 weeks holiday in Any job after working there for a year. Everywhere you get a minimum wage because nobody here will work for anything less. It works for us because we have a smaller country and Far less people like 5 million almost.

@wendyschmidt4339 3 года назад

Thank you for keeping it real 💕🙏🏻🌹 Stay safe

@theresasmith3540 3 года назад

He's going political he removed all he's banners we're you used be able to leave him a message he's a fraud and I'm reporting the snake 🐍

@spark300c 3 года назад

world war 2 created a labor shortage which lead higher equality. In the 1970s it ended. one factor in wages equality is amount of start up putting pressure on ceos. the problem is hard to get business to succeed so income equality has to be high justify the risk. also welfare state programs increase pressure on the bottom of income ladder. also out sourcing hurts a lot too.

@BennettYancey 3 года назад

The Democratic Party needs to go back to being the party of labor and get rid of its corporate influencers. Whichever party seriously tackles this issue will rule in politics for the next generation.

@KurtVogel88 3 года назад

Once Biden legalizes tens of millions of illegals, the Democrats will rule forever, regardless.

@jhinthevirtuoso4886 3 года назад

Bernie and trump were the only ones who could change anything but the system is rigged against them.

@baileymaloney1961 3 года назад

Nope! Whichever party controls the media will rule politics for the next generation. Period. Perception is reality. Has nothing to do with what politicians actually do, just what people think they do. If it were based on real action, Trump would probably never be voted out of office.

@ShadaeMastersAstrology 2 года назад

@@jhinthevirtuoso4886 Exactly I wish Trump had had 2 terms. He was hated for telling the damn truth!! He was the only president I’ve seen in my 35 years who spoke about the reality vs a fantasy.

@Neon2110 3 года назад

Right now companies are cost cutting either by automation, outsourcing, or getting rid of expense older resources

@angrydragon4574 2 года назад

And none of the workers are seeing any benefits to these overhauls.

@KeepingIt-fm2lj 3 года назад

To much greed 😡.

@wmichaelh29 3 года назад

How would subsidizing out sourcing businesses to return to the U.S. I read a couple of years ago that one company, can't remember the name, was subsidized their total expenditures to move to China. Ha? How does that work?

@Apethgrader Год назад

I'm an apartment maintenance technician and just fyi, most apartment complexes require minimum 2-3 times the rent just to qualify. A one bedroom apartment for $1500. month requires 3-4 thousand a month gross wages. That's $22-$25 per hr.

@owboky102050 3 года назад

In 1979 I was making $0.29 a mile driving truck over the road the average now is 45 to 50 cents a mile You do the math

@thingswhynot 3 года назад

What were gas prices back then? Cost to own a truck in 1979? Rent/mortgage payments? I feel like these costs, and any other costs required to be a truck driver, would be a lot higher relative to the little increase in pay, no? Like I’m sure cost of living has at least doubled in that time. I mean $1 in 1979 is $3.78 today, so if we go by inflation, you *should* be getting like $0.75 a mile.

@owboky102050 3 года назад

@@thingswhynot in 41 years that would be roughly less than a penny a year raise if they puts things into perspective

@thingswhynot 3 года назад

@Carl Spackler I’m sorry man. That’s bullshit

@CrystalBrightz 3 года назад

As a trucker's wife, I feel this.

@gmcinnis6304 3 года назад

33cents/mile wow and the more a driver cooks the books and RUNS (illegally) the more the trucking company LOVES THE DRIVER... 18 hours a day? 24 hours a day... REAL MEN BACK IN THE DAY WHEN MEN WERE MEN!!!! 48 hours... LA to NYC... LETS GO!! ~3000 miles, noting to it... just dont fall asleep... which happens everyday too

@howimade3309 3 года назад

ubi is the only path forward, this is capitalism at its finest. capitalism will thrive when ppl have money to spend, the jobs it creates the more tax revenue goes back to the gov.

@thingswhynot 3 года назад

Remove the work to live requirement, and I’ll guarantee we’ll see a lot more innovation. People won’t accept meaningless wage slave lives because they’re afraid of going homeless. People will start exploring and experimenting more when they can stop living in fear. UBI would be a beautiful thing. I just wish I could be more optimistic about it happening soon :(

@thingswhynot 3 года назад

@GBT When American officials actually consulting evidence when creating policy, we’ll have a whole new country.

@billbowman5738 3 года назад

Your math is impeccable shhhhhh don't tell everyone this could spark unrest ( not that it already isn't happening). We new of this but did not have docum I remember min wage at 1.75 hour

@dustinshadle732 3 года назад

what i want to know is, why are these lawmakers vote on giving themselves raises, shouldnt the people of their district be voting on them as if they relate it to how well the job gets done? all they need to do is ask on the voting polls who you want to elect and do they deserve a raise? meanwhile even people on disability after decades of working hard and paying in need to pick between food or medications and housing prices climb, so theres no savings,m even though states restrict savings if you dont have private insurance. oh, i could go on and on here

@ibnomad 3 года назад

vote!

@kevinmcneill1074 3 года назад

There are at least 10 million people in the country working in low and medium wage jobs such as landscaping, cleaning, painting, construction, food service, etc that are being paid outside the system and are willing to work for less than others because wages are so much higher than in their home countries. But that reason doesn’t crack the top 4! Interesting.

@ibnomad 3 года назад

vote!

@ibnomad 3 года назад

@King Tell Trump that voting doesn't change anything

@divisionoflabor3070 2 года назад

How about outlaw, or severely limit outsourcing? Problem solved. Max wage for CEO would be nice too.

@jamesmorton7881 3 года назад

My first engineering position, when i quit the boss stated " you will make 3% per year " Relocate to Boca Chica Tex, make something.

@robertrodriguez2416 3 года назад

HI I'M essential worker for over eight years and i can't get a pay raise

@bobbie-roberta7441 3 года назад

My daughter is an Uber driver and while what is said is mostly true, during the pandemic my daughter has seen the number of drivers in her city dwindle as most drivers in her area were more elderly drivers that have decided not to drive due to underlying health conditions and have a fear of catching the virus. The low number of drivers has help my daughter somewhat since the number of riders has also dwindled due to so many restrictions and the extremely early closing of bars.

@ringthebell5221 3 года назад

Smash that like button get them notifications out folks thank are guy here for the daily videos

@robertmaxa6631 3 года назад

I do have a question. I was wondering if anyone knew what the wage is, for someone who works, in a "Home Depot", like store, selling lumber and stuff, not a manager. Being in Canada, I just want to gauge. We have the min. wage law, but still, make more than $15.00/Hr. I understand this will vary from state to state, and whether or not the state has a minimum wage law, in effect. What I'm curious about is with no minimum wage law, in effect. Thank you.

@angrydragon4574 2 года назад

From my experience it would have the purchasing power of someone making $12 to $13 for anyone who has just started. Don't be surprised by lowball "offerings" though.

@Dragnmastralex 3 года назад

this is why there doesn't need to be a minimum wage. instead make a maximum wage. the highest paid employee or owner can no make more than 20% of the lowest paid employee. so if they want to make millions a year they gotta pay very very well to their employees. with no money incentive to reach the top companies will have to offer better benefits and better work conditions instead. the extra money made now goes back into the company to improve working conditions and makes more partners that stimulates more business. you might think well without that minimum wage they are just going to pay 1 cent a week to their employees and make sweat shops! but remember that means the maximum wage is effected and the CEO's and owner would only make 20 cents a week. stop the corporate greed and make America belong to the people again.

@Dragnmastralex 3 года назад

@Tom Gadbois well that's a lie. they are offered those things on top of their salary as perks not as their wages. that's like saying McDonald's employees are paid with free hot apple pies but get no paycheck. there are laws, companies must pay a salary to all employees. stop making up shit to try and justify no wages.

@grandcanyon2 3 года назад

@Tom Gadbois basically the executives buy the stock options, and invest in other companies or open their own much smaller company. Say your executive you have 5 million in stocks, you sit on the stock for 5 years, its now worth 12 million, you can now use that money to buy other stocks in other companies, or start your own company to make passive income. The executive at amazon was just payed 180 million, because how well amazon did this year, but this growth was due to the pandemic.

@LHKKKing 2 года назад

Don't think that would work, because of global competition, or any competition in general

@bobpierce115 3 года назад

1972 was the last year of the grear post World War II economic boom that lasted 25 years; 1947-1972. 1973 was the beginning of what we've had ever since then: stagflation, OPEC and the economic instability that brought about we've been living with ever since. The out of control CEO pay and too much else to comment on here. But yes, 1973 was the beginning of the end for most Americans and any kind of upward mobility, and a too good to be true reality for America's undeserving rich because it's at everyone else's expense.

@donaldjames4437 3 года назад

You would gain a wealth of knowledge from studying people that survived the great depression. Old folks understand more than people give them credit.

@MiamiPush2theLimit 3 года назад

Those people are dead now.

@polishherowitoldpilecki5521 3 года назад

@@MiamiPush2theLimit Pretty much, anyone with recent memory and experience. Their still people from that time, but they either have 8 years left or were too young to understand their parents financial decisions.

@heirloomseeder 3 года назад

USE A TINY TAX ON GROSS REVENUES FROM ALL CHANNELS TO PAY FOR UBI. SO SIMPLE, NOBODY LOSES A LIMB OVER IT

@kamark7017 3 года назад

Or put in law forcing companies to pay livable wages and have human worker quotas? who wants to sit at home getting 1000$ and not being able to afford anything

@kaylamorgan7308 Год назад

It is wild to me that a universal basic income of $1000 a month is MORE than I’m making right now, and more than I will be making when I start my 3rd job. Of course, all of them are part time, and I’m at least scraping by. But still.

@waynecmontgomery 3 года назад

Great video Logan, this is why Nancy should not compromise until she gets 2.2 trillion in the stimulus, she has already come down from 3 trillion, I say this as a Republican who owns real estate that does not want to evict tenants. My tenants were barely making it before the pandemic, no one wins if you have to evict people.

@bobbybucklew7898 3 года назад

I can answer that very easily, the rich business owners are greedy

@bobbybucklew7898 3 года назад

@jjcampbell80 lol sorry didn't notice the t

@DrNES73 2 года назад

You forgot a very important thing that happened in the 1970s. Nixon finished what FDR started to remove the US dollar from the gold standard. To understand the impact, calculate the mass value of silver dollars from the minimum wage.

@theamchairphilosopher2213 3 года назад

Politicians have no major incentive to fix low wages, unless it gains them votes and political power. Poverty is a very profitable business. A lot of people and companies make a lot of money off it. Their livelihood depends upon it. If you decide to just spend more money on the issues, a lot of these special interest groups will increase their profit, and do very little to resolve the issue.

@angrydragon4574 2 года назад

So where do we go from here? If we can't expect politicians to do their damn jobs then how do we as a country fix this?

@mikeavila6921 3 года назад

I figured all this out on my own like 5 years ago. So I changed carreers from a line cook at applebees to I.T. Literally doubled my pay and I work less days of the year.

@Acid31337 3 года назад

1973... hmm, what happend there? Aah, yeah, fiat currency became 100% fiat, no gold evaluation anymore, and all printed money went into pockets of rich.

@debbieteel9904 3 года назад

Minimum wages should be a livable wage. In relation to the cost of housing and necessities, our current minimum wage is disgraceful. The breaking of the unions is a factor you do not mention as well.

@fabiancanada8876 6 месяцев назад

I doubt that I would ever find a job that pays well enough (being an employee). Around here you have to be self employed or have your own business. Or work for the government which I couldn't do because they re too inefficient which would cause me to quit quickly. The alternative is really to think how to need much less money in general so that you dont need to struggle with finding work in the first place.

@borninprovidence2965 3 года назад

In 1950 roughly half a million Americans were institutionalized due to mental health issues. When institutions were defunded and closed throughout the late 90's roughly half a millions Americans were homeless. In addition, between 1980 and 2000 the number of children with an incarcerated parent rose by 500%. The current US prison population now stands at roughly 1.5 million. As wages have remained stagnant, mental illness, disability, suicide and incarceration rates have all risen. Who will mow the lawns of the multiple homes owned by CEO's if we're all dead, homeless, imprisoned or have succumbed to mental illness as a result of toxic stress and untreated trauma?

@888strummer 3 года назад

Have run a construction for 25+ years and the reason for construction wages not moving much since 1990 is the 20 million+ illegals the past 30 years as so many flood the construction industry. Other businesses might have other factors

@gharm9129 3 года назад

They've been saying the 11 mil number since the 80s until recently. There's more, way more just go look at all the jobs and who fills them.

@KurtVogel88 3 года назад

Has the immigration of tens of millions of new workers over the last few decades had an effect on the price of labor?

@Boriqua76 3 года назад

Immigration has had a sharp decline in doing that. Your enemy is the CEO not the man from the country that your CEO is extracting raw earth matireals from.

@KurtVogel88 3 года назад

@@Boriqua76 they both are. Whites in America have the right to a homeland of their own.

@ShadaeMastersAstrology 2 года назад

@@KurtVogel88 Isn’t it Europe?

@KurtVogel88 2 года назад

@@ShadaeMastersAstrology North America belongs to the white man now by right of conquest.

@ShadaeMastersAstrology 2 года назад

@@KurtVogel88 You must’ve not been checking out your leadership and their 2030 agenda? I’m afraid your conquered prefers women and immigrants at the moment also men who are liberal in their thinking. Developed nations no longer need men to hunt, take down saber toothed tigers or other things they’ve convinced men they were only capable of. A new age has arrived and is requiring a shift in behavior and only those who make this shift will prosper. Patriarchy helped get us here however now amongst the youth it’s considered barbaric similar with how the indigenous peoples were perceived.

@Dennis-nc3vw 3 года назад

If this is true, why has median house size almost doubled, and life expectancy increased by about a decade, since 1970?

@zuzanazuscinova5209 3 года назад

Life expectancy is now going down. Also contractors make more money on big houses, so no small houses are even being built anymore

@ZodiacEntertainment2 2 года назад

What do home sizes have to do with wages?

@roybal1975 2 года назад

Can an employer keep an employees pay at minimum wage for let say 19 years? That’s right my employer has kept my wage at minimum wage for 19 years legal?

@KVW22 2 года назад

Corporate greed, corporate greed, and um. Oh yea, corporate greed.

@MiamiPush2theLimit 3 года назад

People are suffering. It’s in humane in such a wealthy country.

@Charles-hy6gp 3 года назад

wealthy country with 3rd world politicians

@olivekatz9139 3 года назад

Minimum wage should be based on City and state. In NYC $15 is not enough. Housing, a basic studio apt is over$3000 a month. I'm sure it's much lower for a studio in, say, Kentucky..for example.

@bluesteel1 2 года назад

Im no Economics major but the "trickle down" doesn't work .... Executives, Csuites and management in general, have "clogged" the pipes .... gotta see what happens when automation finishes eating the jobs ..... perhaps i should search for a good footpath spot in advance ..

@summerdowlig 3 года назад

So greedy CEO basically we work more they make and take more but not give us more pretty simple.

@richardreyes7439 3 года назад

Not exactly more like they buy innnovative machinery that makes you work easier do get more things done but you work just as hard while they profit out of it The solution 😅 simple Buy the machine

@sinstcg3120 3 года назад

How much of the productivity is due to automation/technology? Has labor become less valuable?

@LHKKKing 2 года назад

exactly

@patescortez88 2 года назад

one word GREED

@kyleg8230 3 года назад

There should be no minimum wage law

@taylorbug9 2 года назад

How come I didn't hear anything about wage caps???

@loriwinslow3 3 года назад

What about ssi people the in I income is a great idea and all but people on did get shot my husband and I only get 578 each on did in I people will get more than us for one person and I've been on did for almost 20 years and onle get less than 600 a month its crazy

@henryjames8928 3 года назад

UBI is the future.

@innocentrage1 3 года назад

That or everyone becomes homeless while billionaires laugh at us from space

@harrylongdick1303 2 года назад

Inflation policy. 1971 the dollar was taken off the gold standard, the top 1% only owned 10% of the total income then, now it's around 35%. The financial sector has bloated due to the low interest rates and inflation while savings have skydived. The low intrests rates lead to huge debt crises like the dot com crash and the great recession, which ultimately bankrupt the consumers and allow the financial investment sectors to gobble up the assets within the econamy. We need high interest rates and no QE for a long period of time to reverse these trends but mainly no bailouts. Let the banks crumble for there incompetence.

@theamchairphilosopher2213 3 года назад

A basic income would work if you were to replace the bloat and bwaste of government. However politicians will not want to do so, as it would affect their chances of maintaining their career.

@theamchairphilosopher2213 3 года назад

Reasons why: 1. Mass immigration to provide an abundance of cheap labor 2. Women entering the working field 3. Taxes. Employees keep wages lower to compensate 4. Lack of unions 5. Outsourcing most of the tasks of the country, to 3rd world countries 6. Most jobs are service based, which have little value 7. Automation and other means to make jobs easier, and workers more expendable 8. Gig based model, such as staffing agencies 9. Companies don't have to pay more to get workers 10. Better paying typically require bullshit, such as a degree, when it has no correlation to the job 11. There's not enough jobs to provide enough high paying. A lot of jobs are mainly to stimulate the economy, versus something of value 12. Unnecessary borders to entry 13. Most of the money is in Wall Street. It's a gigantic casino with funny money and gambling 14. Value isn't measured properly by money. Making money has little to do with value, but profit

@chasewhite326 3 года назад

I'm speechless Logan this has made me so angry I cant see straight

@deleted-commentsis-fascism5879 2 года назад

Americans NEED a UBI for life of $3,000/Month at this point! Americans need legitimate buying power to catch up with high cost of living!

@iieshamcclendon932 3 года назад

Companies need to be forced to pay employees 18 hrs period including restaurant workers they pay. Slave wages for brutal work

@yamchayaku 3 года назад

Companies also need to be regulated on what they can offer if they demand a person with higher credentials. 20/hr for a person with a masters is ridiculous and I see that shit posted by a ton of companies.

@cellocovers3982 3 года назад

Pointing out CEO compensation is important, but negligible when talking about employee wages. Cutting CEO pay wouldn't help their employees much if at all. Also it would be good to include TFP growth, rather than that productivity growth graph you showed at the beginning, as I think TFP gives you a better idea of why wages have been stagnant.

@benyarkani6604 3 года назад

Not enough job, for too many low wage workers. That why.

@wwlee5 3 года назад

Real wages hasn't increased since the 70s but nominal (perceptional) wages have increased. With wages increasing now and inflation occuring, again, wages did increase nominally, but real wages will always forever stay flat. Why? Because higher wages means more demand. More demand means higher prices.

@rosestines66 3 года назад

I live on less than 12,000 year

@danielcarlies5151 3 года назад

Greed is the common denominator here. It's not sustainably in the long run as a country. Rules and trade laws must be implemented and followed, to substain the UNITED STATES FOR MANY YEARS TO COME. I KNOW THE HERSAYERS WHO SAY, PROFITS ARE A LEGAL RIGHT, BUT WE MUST STAND AS ONE STRUCTURE TO HAVE ANY STRUCTURE LEFT. SURVIVAL AS HUMANS IS NOT POSSIBLE OTHERWISE. THE LIFE CHAIN MUST NOT HAVE WEAK SPOTS TO ENDURE.

@UBIAICOSMOS 3 года назад

Technology is cheaper than workers. it's Time for a #BasicIncome & #FourDayWorkWeek

@justbobelliot8340 3 года назад

Where do you live, under a rock,I am 63 and have never seen as many people moving in to 500,000+ dollar homes as much as in the last 10 years, almost every one drives a new car

@Nadiiuncut 3 года назад

But do they own either is the real question? Which used to be much more possible then now?

@nealamesbury1480 3 года назад

Minimum wages per job

@constanceburris5058 3 года назад

CEO making too much

@TheLifeOfRoss 3 года назад

Women interning the workforce and increased immigration is why the wages have not gone up. There are more people competing for the same number of jobs. Simple

@gart7511 3 года назад

This. Theres no incentive for the employers, CEOs, billionaires to provide any attractive pay or benefits if the work force is so large someone can replace you from a third world country. Why do you think these elites want open borders and more immigration?

@christopherrichards7517 5 дней назад

Employers who pay only minimum wage pay is a cheapskate employer and should never be surprised to any turn overs they get. No one is going to work for wages that won't get you anywhere. Low wage pay shows the employer doesnt value the people who work.

@cellocovers3982 3 года назад

Greed is one factor, but that doesn't mean there aren't other significant factors. We don't invent as much as we used to. Before we had innovation is every sector of the economy. Energy, transportation, agriculture, etc. Now we only think of technology as the IT field, since that is the only field (except for recently the financial sector) where we have seen any meaningful innovation.

@SP-fk9vp 3 года назад

👍

@tomconverse7862 2 года назад

With the amount of money 4 of the top billionaires have, which I believe is around $1.4 trillion plus with government assistance with UBI, EVERY MAN, WOMAN AND CHILD COULD EASILY BE COMPENSATED $1,000 A MONTH! 350,000,000 X 1,000 = 350,000,000,000

@user-od2ov1zv3j 2 года назад

That’s not liquid wealth so no it can’t

@theamchairphilosopher2213 3 года назад

You cannot fix the issue of low wages by raising minimum wage. You will just incentivize more automation and outsourcing. You also cannot fix the low wages by income-based taxation. A value added tax is more efficient

@michaelcrandall358 Год назад

Simple solution. We all quit at once. See how their companies do without employees. Let the c.e.o. do all of the work.

@cushingpushing Год назад

I would love to see that happen, have everyone quit on the same day in America. Then watch how quickly wages would go up.

@DarkMustard1337 2 года назад

Maybe our economy should function how it is/better than it is after basic needs are met...maybe survival of our species isnt determined by hyper capitalism and a gross work culture.

@axelslingerland9920 3 года назад

The real problem with minimum wage is politicians that support corporations first and people last, if ever. The good thing about Congress is that just like politicians get voted into office, they can also get voted out of office. If every minimum wage earner voted against people who have long histories of allowing corporate greed to run rampant, things might change. There's no guarantee that your vote will change anything, but not voting absolutely does not ever do anything accept waste your vote. Make your voice heard, never miss an election.