American workers get 14 days vacation when most OECD countries get 28
Yeah, yeah, yeah, unemployment is low and the stock market is high. But skyrocketing stocks benefit only the top 10 percent of wealthy Americans who own 84 percent of stocks. And while more people are employed now than during the Great Recession, the vast majority of Americans haven’t had a real raise since 1979.It’s bad out there for American workers. Last month, their ranking dropped for the third year running in the World Happiness Report,
Forty percent of workers say they don’t have $400 for an unexpected expense. Twenty percent can’t pay all of their monthly bills. More than a quarter of adults skipped needed medical care last year because they couldn’t afford it. A quarter of adults have no retirement savings.
The White House Council of Economic Advisers predicted the corporate tax cut would put an extra $4,000 in every worker’s pocket. They swore that corporations would use some of their tax cut money to hand out raises and bonuses to workers. That never happened. Workers got a measly 6 percent of corporations’ tax savings. In the first quarter after the tax cut took effect, workers on average received a big fat extra $6.21 in their paychecks, for an annual total of a whopping $233. Corporations spent their tax breaks on stock buybacks, a record $1 trillion worth, raising stock prices, which put more money in the pockets of rich CEOs and shareholders.
That’s continuing this year. Workers are never going to see that $4,000.
No wonder they’re unhappy. The system is working against them.
via The Untold Story of Trump’s ‘Booming’ Economy | The Smirking Chimp
/https://www.thestar.com/content/dam/thestar/opinion/star-columnists/2019/05/13/why-trumps-trade-war-did-not-led-to-a-recession/afp_1gc3bl.jpg)
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