- "Since the recovery began in June 2009 following a deep 18-month recession, “<b>corporate profits captured 88 percent of the growth in real national income</b> while aggregate wages and salaries accounted for only slightly more than 1 percent” of that growth."
- <a href="http://economix.blogs.nytimes.com/2011/06/30/the-wageless-profitable-recovery/">The Wageless, Profitable Recovery - NYTimes.com</a>
- "18. Which comes closer to your own view? 1) The federal government should spend money to create jobs, even if it means it has to borrow the money to do so, OR 2) The federal government should not spend money to create jobs and should instead focus on lowering the country’s debt."
- Gov’t should spend money - <b>42%</b>
- Gov’t should not spend money - <b>52%</b>
- Don't know/not applicable - 6%
- <a href="http://www.nytimes.com/interactive/2011/06/30/business/20110630poll-full-results.html">NYT/CBS opinion poll</a>
- "Most employees, about 76 percent, said they are willing to take a pay cut . . . And among those who are out of work, 88 percent said they would take less in salary in order to land a job."
- <a href="http://www.msnbc.msn.com/id/36141641/">Most workers willing to take a pay cut: poll - Business - Personal finance - Careers - msnbc.com</a>
- <b>Step one</b>: President Obama announces that due to the high level of unemployment and lack of consumer demand, companies should feel justified in reducing their payroll costs by lowering the wage rate for all employees working full-time, but giving employees the option of retaining the original wage rate by working less time. This will allow companies to make new hires at lower wages than current employees while retaining skilled workers if consumer demand for the company's products increases. Companies that feel they are profitable enough can leave wages and salaries the way they were, but still give the choice of an increased wage rate for those who want to work less. This would be a permanent change in how wages work, a direct opposite of the overtime pay system.
- Or it can be a law, and businesses can choose to either have lower payroll costs or give pay raises to their employees to prevent them from quitting.
- While this does increase the number of people on a company's payroll, the reason it will improve the economy is that people won't feel they need to buy high-priced status symbols from corporations, and will instead spend more of their money at smaller, local businesses. This allows money to circulate within the economy, creating jobs, instead of being captured and stored by a small number of very profitable corporations.
- <a href="http://pastebin.com/QrmDEymL">Three Arguments - Pastebin.com</a>
- <a href="http://pastebin.com/Q86Zhgs9">Detailed explanation of causes</a>
One-Step Plan to Eliminating Unemployment
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