America slammed for low wages and lack of infrastructure invesment by the IMF.

Discussion in 'Politics, Religion, Social Issues' started by G51989, Jun 18, 2014.

  1. macrumors 68030

    G51989

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    #1
    http://www.huffingtonpost.com/2014/06/16/imf-minimum-wage_n_5499420.html?ncid=fcbklnkushpmg00000063

    Thoughts?

    This does make a good point, the US of A is one of the few developed countries with such a low wage for its working class citizens, the report also points that America is one of the only developed countries that does not invest in infrastructure either.

    You also need to take into account that in many of those countries, citizens do not need to worry about massive student or medical debt.

    But we to rank number 1 in random meaningless wars, military spending, and mass incarceration! And violence in the developed world! Go USA!
     
  2. macrumors 6502a

    jnpy!$4g3cwk

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    #2
    To top it off, we also depend upon the labor of illegal immigrants to pick our fresh fruits and vegetables. The following documentary is available on Netflix:

    http://www.imdb.com/title/tt1981703/?ref_=fn_al_tt_1

    Oh, by the way, this is not some anti-Mexican rant. As everyone should know, their illegal status is a necessary part of the current system.
     
  3. macrumors 65816

    Mousse

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    #3
    People know, but they turn a blind eye because people would rather buy a pound of strawberry for $1.50 instead of $3.00. Pretty much the same reason most of the stuff sold in the US is made in China. Here in 'Muerica the bottom line is the bottom line.

    Maybe if everyone had more disposable income, they would to spend extra for better quality. I know folks on this forum would, after all, we pay a premium for :apple: products.
     
  4. macrumors 68000

    Happybunny

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    #4
    Unless you pay the workers a living wage in your country, you are not creating consumers, but an underclass.
     
  5. G51989, Jun 18, 2014
    Last edited: Jun 18, 2014

    thread starter macrumors 68030

    G51989

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    #5
    That is pretty much is what happened, 40% of Americans make under 10 dollars an hour. That only covers the basics, nothing else. They are slaves.

    In America, the working class and poor are demonized, and some people in America want them put to death via removing safety nets.

    And the elite and big business are worshiped like gods.
     
  6. Contributor

    Scepticalscribe

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    #6
    Exactly. Excellent point and post.

    And, again, I'm in complete agreement with you.

    A form of capitalism that creates wealth (by manufacturing, innovation, export), needs to ensure that its own workers can afford to buy its products. Therefore, it makes sense to ensure that enough is paid to ensure that those who actually produce can afford to consume. Each section benefits - to some extent - from ensuring the welfare - or continued existence in relative comfort - of the other.

    However, the version of capitalism that actually is completely indifferent to the idea of creating/crafting/manufacturing goods - but instead, prefers a model of rentier or speculative capitalism - has no need of a consumer class, as money, profits, and economic activity are all more or less a virtual and difficult to detect activity. Not only are they indifferent to consumer satisfaction, they are hostile to a minimum wage, or any wage. For some, the ideal is a zero hour contract (where there are little or no obligations), or, better still what is coyly termed 'an internship' which basically means that you get to 'work' for no wages whatsoever but try to justify it on the grounds of 'gaining experience'.

    Indeed, perhaps the only thing that seems to matter to such people is either share-holder dividends, (because they risk being voted out of office) or the size of director or CEO bonuses. Unfortunately, the work force is utterly expendable in pursuit of profit.
     
  7. macrumors 6502a

    jnpy!$4g3cwk

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    #7
    If only. That is, if only they would at least protect long-term shareholder dividends. I've posted examples in the past of leveraged buyout shenanigans that only enrich top management, at the expense of shareholders.

    I'm not a tax expert/corporate finance type, but, there ought to be some way to change the tax laws to favor long-term dividends instead of short-term shell games.
     
  8. macrumors 68000

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    #8
    /sarcastic rant

    Stupid foreigners don't know what they're talkin' 'bout! 'Murica! Land of the free, home of the brave! #1!

    /rant over
     
  9. macrumors 603

    Technarchy

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    #9
    It's all a matter of perspective...

    Everyone else's CEO's are underpaid. Why this unfairness toward CEO pay in other nations? They have to eat too!

    [​IMG]
     
  10. macrumors 65816

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    #10
    All this does is prove that CEOs in the US are 9.5 times as valuable as any other nations' CEOs. I mean, you just can't find anyone in the world like them! I mean, we're obviously 40 times smarter than Japan and Germany!
     
  11. macrumors G4

    Eraserhead

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    #11
    To put that into perspective 40% of Americans make less than the minimum wage here as our minimum wage is over $10/hour. You almost certainly get at least some of your rent covered on minimum wage here.

    And here even some conservatives think £6.31/hour is too low.
     
  12. macrumors 6502

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    #12
    When the IMF and "job creators" abandon the GOP, whose left but the uneducated, programmed, ill-informed, FUX NEWS watchers?

    FUX NEWS may win the Nielsen ratings, however, I do not believe they can carry a national election.
     
  13. macrumors 6502a

    jnpy!$4g3cwk

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    #13
    Interesting read:

    I might even go so far as to say democracy itself is very difficult without a dominant middle class.
     
  14. macrumors 603

    Michael Goff

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    #14
    What you don't understand is our CEO are all worth 296 average workers in the US. That's why out of the top 10 business in terms of gross income, 2 of them are in the US and 3 of them are state run companies in China.

    Wait ....

    Edit: Found a more recent number

    http://money.cnn.com/2014/06/12/news/economy/ceo-pay/index.html

    It also tells how the average CEO is worth 750 minimum wage workers!
     
  15. thread starter macrumors 68030

    G51989

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    #15
    Can't disagree.

    The difference is, Americans generally dislike the working class, and consider people working two full time jobs hardly able to make ends meet as " takers and leeches and entitled "
     
  16. macrumors 603

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    #16
    Let's be fair, all Americans don't think this way, just the right wing politicians and their followers who don't think for themselves.

    It's encouraging to see that some people are finally waking up to the fact that Reaganomics are a complete load of ******** and are the main reason of the recent recession and our struggling economy.

    We need to go back to many of the economic policies of the 50s.
     
  17. macrumors G4

    Eraserhead

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    #17
    I'm sure Daily Mail readers think the same here.
     
  18. macrumors 68000

    VulchR

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    #18
    Erm... that is not my experience. Where I grew up in the US people who worked hard were respected. When I go back to the States it doesn't seem to have changed much. The only ones who seem to attack the working class are crotchety old retirees who resent paying taxes and tips.
     
  19. macrumors regular

    noodlemanc

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    #19
    It's relative to the cost of living in your region though. Here is Australia our min wage is $17 an hour, but our cost of living (in the major cities anyway) is one of the highest in the world. The min wage in the U.S is $10 less than here, but the cost of living is also a lot lower.

    A lot of the time a high min wage and a high cost of living go hand in hand, as artificially inflated wages push up the prices of many goods and services.
     
  20. macrumors G3

    roadbloc

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    #20
    Yeah I wouldn't bother getting up out of bed in the morning if I worked a minimum wage job in America. Not even worth it.
     
  21. macrumors G4

    Eraserhead

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    #21
    If you want to correct for that use PPP dollars ;).
     
  22. macrumors 65816

    Zombie Acorn

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    #22
    The US should divert all IMF funding dollars to infrastructure.
     
  23. thread starter macrumors 68030

    G51989

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    #23
    That won't fix anything. Drop in the bucket, the US of A needs trillions upon trillions to fix what we have, let alone upgrade anything.

    Also needs to up the min wage.
     
  24. macrumors regular

    jkcerda

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    #24
    what is a "living" wage? :confused:
    I know guys on minimum wage that are living here.
     
  25. macrumors 603

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    #25
    livingwage.mit.edu

    Essentially a living wage is the wage required to pay your basic life expenses... shelter, food, clothing, utilities, medical costs, and transportation to work.
     

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