If workers are 5x more productive and wages are flat after inflation, why are profits also flat (after inflation and population growth)? This isn't a case of the corporate oligarchs taking a larger share, this is the pie not growing as fast as that 5x productivity improvement would imply.
Sure, but how do we used to share the increase in productivity ? How do we share it now ? How should we share it ?
;
My feeling is workers had been the "loser" those last 30 years in how are shared the productivity gain.
Ethically I find it wrong.
Economically this did not seemed to offer more growth or positive outcome...
This is grossly simplified, but I feel like I'm responding in kind.
The fundamental nature of a non-co-op business is that the company gets more value per person than it costs to employ that person. Companies have been "stealing" wealth from employees since they've existed.
I really don't think that it becomes stealing until the wealthy are pulled down below the poor - and that isn't anywhere near being on the table, most of the wealth tax options would just shrink the band between the super rich and the rich. It's not clear if this survey laid out a starting point but Warren's proposal is to only tax excess wealth above 50mil and such a tax would almost certainly be graduated (so a 51M person would pay tax on 1M and a 52M would pay tax on 2M (probably double?)) either way the worst that happens is that unearning trustfunders are slowly reduced to 50M in assets over time which is more than enough money for anyone... and I'd hope that as inflation/cost of living rose that level would be adjusted - being a millionaire today is hardly rare with most people who own a house in a metro area easily falling in that range.
Nearly everyone pays a form of wealth taxes in the form of property taxes. I see no reason why it should be different for the Rembrandts and the diamonds (if, of course, they could somehow be assessed at a level that exceeds ~$32 million to $50 million and more).
They're trying to recapture their economic contributions. Companies won't pay more, so they're doing it via other means. When salaries were rising such actions were not popular.
Majority of Americans favor stealing wealth from others.