From his University of Delaware blog, Vice President Joe Biden (a guy I really, really like!) published: A PLAN TO PUT WORK – AND WORKERS – FIRST. In it he writes : First, we need to make sure hard-working Americans have the skills and opportunities to succeed in the jobs of the future. Second, we need to make sure people are paid fairly for their work. Those who work hard and do their part should share in the benefits, allowing them to earn a good living and get ahead. And third, we need policies that allow the middle class to maintain or improve their standard of living. (emphasis mine).
It should be of no surprise to anyone that our middle class (aka – the working class that can support itself on par with average society) is shrinking. This all began, according to most economist I have read, in 1973. To Democrats like Joe, this erosion of wealth has stemmed from the belief that the American working class citizen has slipped in areas of education, job skills, and productivity. I can assure you that since 1973, the education level of the working class along with its skill level and productivity has greatly increased. One only need look at the Dow or the rise in GDP to see that the USA’s wealth gains since the 1970’s has been significant.
From this day forward, I am going to press every Democrat who mentions skills and opportunities to succeed this simple question:
Since the 1970’s CEO compensation increased from $1.5 million 16.3 million recently, or 997 percent. Over the same time period, a typical worker’s wages grew rose from $48,000 to just $53,200 and increase of 10.9 percent. Due to this unequal growth, average top CEOs now make over 300 times what typical workers earn.
WHAT SKILLS AND OPPORTUNITIES do these CEO’s posses and HOW do we transfer them to the Working Class?