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Corporate Profits at All-Time High; Wages at All-Time Low: Can We Call it Class War Yet?

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posted on Jul, 1 2012 @ 11:53 AM
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This week, David Segal at the New York Times broke the news to America that not only was Apple -- the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity -- making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.

Apple store workers, he wrote, make up a large majority of Apple's US workforce—30,000 out of 43,000 employees in this country—and they make about $25,000 a year, or about $12 an hour.

Lawrence Mishel at the Economic Policy Institute notes that that's just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011.


It's not Apple's "innovative" products that have made them so proffitable, but rather, their slave wages.


One reason companies are so profitable is that they're paying employees less than they ever have as a share of GDP. And that, in turn, is one reason the economy is so weak: Those 'wages' are other companies' revenue,” Blodget points out. And high unemployment makes workers willing to accept those poverty wages. When you're desperate for a job, any job is better than nothing.



Over the last decade, the political arm of the income defense industry has been wildly successful. The tax cuts passed by Bush and extended by Obama represent a total of $81.5 billion transferred from the state into the hands of the richest 1 percent. Meanwhile, hedge fund managers and their surrogates have deployed millions of dollars to lobbyists to maintain the so-called carried interest loophole, a provision of tax law that allows fund managers to classify much of their income drawn from investing gains as “carried interest” so that it is taxed at the low capital gains rate of 15 percent, rather than the marginal income rate, which would in most cases be more than twice that.


(Source)

The most alarming part about all of this is the blatant class warfare. Even though they know their wealth depends on the state of the economy they are literally squeezing ever last ounce of blood out of us, and risking economic collapse because their thirst for greed is unquenchable.
edit on 1-7-2012 by v1rtu0s0 because: (no reason given)




posted on Jul, 1 2012 @ 11:58 AM
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Hahaha and yet 12/hr is still 3.50 more I make at a physical, hard job that potentially saves lives.
12 an hour for selling computers sounds like a dream to me!



posted on Jul, 1 2012 @ 12:01 PM
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Originally posted by PhysicsAdept
Hahaha and yet 12/hr is still 3.50 more I make at a physical, hard job that potentially saves lives.
12 an hour for selling computers sounds like a dream to me!


$12 dollars an hour isn't what it used to be. Keep in mind that inflation is ever present meaning your 12 dollars in 1995 would be worth about $8.40 an hour now.


What cost $12 in 1995 would cost $17.00 in 2010. Also, if you were to buy exactly the same products in 2010 and 1995, they would cost you $12 and $8.40 respectively.


www.westegg.com...
edit on 1-7-2012 by v1rtu0s0 because: (no reason given)



posted on Jul, 1 2012 @ 12:05 PM
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Nope to call it class warfare would not be PC, and that is the new bible you know.
Only after a major shakeup will people wakeup, until then work your 16 hour days and eat your gruul in your camper....err home.
We're watching a kid at the fountain with a balloon, it will be a kick to see it pop as he does not know when to stop.
Just get yourself squared away and enjoy the show.



posted on Jul, 1 2012 @ 12:08 PM
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Originally posted by g146541
Nope to call it class warfare would not be PC, and that is the new bible you know.
Only after a major shakeup will people wakeup, until then work your 16 hour days and eat your gruul in your camper....err home.
We're watching a kid at the fountain with a balloon, it will be a kick to see it pop as he does not know when to stop.
Just get yourself squared away and enjoy the show.



At that point you are too beaten down, and worn out to care. People become zombies and work just to live, rather than actually "live." Forget about your family and friends. Accept the fact you have to work 16 hours a day for slave wages just to survive.



posted on Jul, 1 2012 @ 12:12 PM
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It's only class warfare when you point out the class warfare- and then it's the worst thing in the world (after gay people) according to Republicans.



posted on Jul, 1 2012 @ 12:16 PM
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Apple's $12.00 is pretty good in the retail industry. Alot of retail jobs pay only slightly above minimum wage if you're not in management. The managers often have to work overtime without pay (salary jobs) so it's not much better.



posted on Jul, 1 2012 @ 12:38 PM
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Originally posted by PhysicsAdept
Hahaha and yet 12/hr is still 3.50 more I make at a physical, hard job that potentially saves lives.
12 an hour for selling computers sounds like a dream to me!


That means employees at the Apple Store in NYC are making 12 bucks an hour. That's not much to live on in the Big Apple.



posted on Jul, 1 2012 @ 01:06 PM
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reply to post by v1rtu0s0
 


I've received two Associate Degree's in the culinary field, I work as the roundsman for a country club (basically the run-around guy, picks up the slack where ever the place needs it, that includes the bars and dining rooms. My duties there are numerous and could be categorized as vast.) I have been there for just over 4 years now, I've received 2 raises, which has been difficult to get, and still only make $11, which is higher than most of the other chefs. It has been almost impossible to maintain a 'living-wage' with this and another part-time minimum-wage job (that I'm way over-qualified for), plus odd-jobs here and there, fixing gaming systems and computers, doing yard work, carving ice-sculptures (among other artistic odd jobs), etc. etc. etc. It's becoming disgusting, the costs of participating with this over-indulgent greedy system. Also being face to face with these snobby rich f***ers is infuriating at times.

For instance, during this last mother's day we have a yearly buffet for the holiday, and during the final legs of the party of 300+ people one of the waitresses I'm working with is refiling drinks for a table and overhears the ladies conversation:

Lady 1: We should get out of here soon, I'm full and we should let these people get home to their mothers.

Lady 2: I don't see your rush, I'm still digesting, plus it's not like these people have mother's, their the working class.

She was completely serious. I could continue to share other stories of the 'member's atrocious behavior, but I'll spare you of the sickening inhumanities that fall out of their mouths on a regular basis. The point is that the upper-classes ( i say that because only a few of these member could actually be considered uber-rich, but they all act like it) live life carefree and rarely consider the things that most of us think about too frequently, like rent, bills, feeding ourselves, and the never ending struggle to keep our heads above water. The really sad thing about the wealthy and their 'noble' lifestyles is that only a very small portion of them earned the right to be there, only a handful actually worked hard to reach those lofty heights. I'm not even going to mention how their children act. -_-

I personally would love to see some of these wealthy families get a taste of their own medicine, accept most of us aren't that rude and ignorant and wouldn't knowingly treat other humans that way. I would love to see the Rothchild's wealth distributed throughout the world. $500,000,000,000,000/7,000,000,000 = $71,000 for every person on earth. So while one family would go without, it would be enough to raise every family in the world out of poverty. Now most of those people would probably irrationally spend their money so I'm not convinced it would be the best idea, I just think the system should reward the people that deserve it and cast out those who don't, unfortunately that's a dream.



posted on Jul, 1 2012 @ 04:59 PM
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Originally posted by PhysicsAdept
Hahaha and yet 12/hr is still 3.50 more I make at a physical, hard job that potentially saves lives.
12 an hour for selling computers sounds like a dream to me!


Depends where you live. 12 an hour in most US cities for someone supporting a family would be poverty wages.



posted on Jul, 1 2012 @ 06:05 PM
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reply to post by wishful1gnorance
 


I'm sorry to hear about your situation, but unfortunately, you're not the exception to the rule.

And that's the problem. As time goes on, your scenario becomes more common, and the greed becomes unstoppable. Eventually, something has to give, and I'm afraid the common folk have already given everything they've got...



posted on Jul, 1 2012 @ 06:53 PM
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I thought I'd won the lottery when i started making 12/r at our local hospital and then died and gone to heaven when I started making 14/hr. But I am down south. I guess it wouldn't be much further up north.



posted on Jul, 1 2012 @ 07:27 PM
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I don't think the rich and powerful understand that when you bleed all the blood from the poor that you can that eventually we will need to come for some rich blood.



posted on Jul, 1 2012 @ 08:12 PM
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reply to post by v1rtu0s0
 


Well we know for sure that they aren't getting those profits on ingenuity of the products...here's the best example yet:


A worthless peice of crap that hasn't even the functionality of a netbook, but supposedly made to take it's place.



posted on Jul, 1 2012 @ 08:40 PM
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Originally posted by knowledgedesired
I don't think the rich and powerful understand that when you bleed all the blood from the poor that you can that eventually we will need to come for some rich blood.



I think you don't understand that the rich and powerful understand that when you bleed the poor of all their resources, that the powerful can then more easily manipulate the poor for less and less expenditures.We are footnote in their empires. Not even footnotes..



posted on Jul, 1 2012 @ 08:52 PM
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reply to post by v1rtu0s0
 


$12 to do a job that a monkey could do?

And?

Innovation and good products IS what makes Apple profitable. I pay a premium for my Apple products because the alternatives don't fit my needs. I know I pay a premium, and I don't really care. Should we force companies to pay low level employees more? NO ... because that just raises what the "poverty threshold" is. If we had not raised the minimum wage by 70% since 2007 then $12 an hour would be a GOOD wage. I used to make $8 in high school and that was a lot of money.. everyone else was making $5.25. Now it's not even minimum wage.. and everyone I used to work with at the same job makes the same because the company couldn't raise it's prices. Decent jobs became minimum wage jobs....... all because of Government and the voters know jack @%@! about economics.



posted on Jul, 1 2012 @ 10:59 PM
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It's really the debt based monetary system we have that's collapsing things, not apple. It doesn't help that apple and the government are in bed with each other though. In terms of class warfare the banking system naturally increases the separation between the rich and the poor. The better you understand the current global banking the system, the better you understand why things are the way they are.



posted on Jul, 1 2012 @ 11:41 PM
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*YAWN* I'm getting so bored with this stuff.

If you have a plan on how to fix this problem that doesn't involve a voting booth or a letter to my bought and paid for congressman or senator, I might just perk up.

Until then, what's the point in preaching to the choir?



posted on Jul, 1 2012 @ 11:50 PM
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Get real people. $12/hr is sh1t these days. Especially for a person with a degree or any other specialized schooling. Hardly a living wage. Depressing.



posted on Jul, 1 2012 @ 11:51 PM
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Originally posted by Rockpuck
reply to post by v1rtu0s0
 


$12 to do a job that a monkey could do?

And?

Innovation and good products IS what makes Apple profitable. I pay a premium for my Apple products because the alternatives don't fit my needs. I know I pay a premium, and I don't really care. Should we force companies to pay low level employees more? NO ... because that just raises what the "poverty threshold" is. If we had not raised the minimum wage by 70% since 2007 then $12 an hour would be a GOOD wage. I used to make $8 in high school and that was a lot of money.. everyone else was making $5.25. Now it's not even minimum wage.. and everyone I used to work with at the same job makes the same because the company couldn't raise it's prices. Decent jobs became minimum wage jobs....... all because of Government and the voters know jack @%@! about economics.


What a great example of the snobbish, condescending attitude that was noted a few comments above yours. I guess things like humility and respect for your brothers are only for entry level masons.

Maybe you missed the part about the wage disparity in Apple. I guess reading comprehension is only for us monkeys.



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