Why the Rich Love High Unemployment

Why the Rich Love High Unemployment

There are 236 comments on the www.truthout.org story from May 24, 2011, titled Why the Rich Love High Unemployment. In it, www.truthout.org reports that:

In the boardrooms of corporate America, profits aren't everything - they are the only thing. A JPMorgan research report concludes that the current corporate profit recovery is more dependent on falling unit-labor costs than during any previous expansion. At some level, corporate executives are aware that they are lowering workers' living standards, but their decisions are neither coordinated nor intentionally harmful. Call it the "paradox of profitability." Executives are acting in their own and their shareholders' best interest: maximizing profit margins in the face of weak demand by extensive layoffs and pay cuts. But what has been good for every company's income statement has been a disaster for working families and their communities.

Join the discussion below, or Read more at www.truthout.org.

steve

Acworth, GA

#22 May 24, 2011
all I know is I am going to have to start stealing food.
Bob Burns

Kunming, China

#23 May 24, 2011
PooPoo Platter wrote:
<quoted text>
You're explaining, huh? Breaking it down? Explain this then:
If it's dog eat dog, and the benefit of the shareholders is the ultimate objective, what is to stop labor, or the unemployed, to regard the shareholder as the enemy? To see the senior manager as a stooge who will cast off an employee as an excess cost unit, regardless of the consequences to the family of the employee?
Why would employees, or Steve, or you & I want to cooperate with shareholders? Why not wage war against them? Is the human wreckage caused by shareholders grubbing for one more dime worth the price paid by the people getting hurt?
All trash talking aside, I'm no socialist. But if I wasn't convinced your premise and the implications of what you say are full of crap, you'd push me toward socialism. Or Christianity.
The more you attack biz, blame biz for your troubles, the faster they move here, leaving nothing worthwhile or productive or money there. How can a bunch of losers be so intent on losing? You sound more like the palis, or blacks or socialists or looneys every day, a trend, along with your decline, I fully expect to see accelerate, leaving nothing on your platter but poo poo
democraps

Tampa, FL

#24 May 24, 2011
not even worth reading ... just more lies from a liberetard hatsite & more oral DIARRHEA from iria!
steve

Acworth, GA

#25 May 24, 2011
I think the govt is putting too many regulations on businesses and individuals but not the right ones. like they make it impossible for businesses and individuals to do business. but as I said, i've got to eat. and a business can just close their doors for decades and start up again later. but I got to eat. and if I don't have a residence because I have no job I don't qualify for certain benefits, but I still got to eat. I've not done it yet but it looks like it would be easy to steal food out of wallmart.

Since: May 10

Salinas, CA

#26 May 24, 2011
Bluebonnets-Thistle wrote:
<quoted text>
Yes, Teddy Roosevelt, a republican. Thanks for the compliment.
A Republican progressive who believed in estate taxes, breaking up "to big to fail"(trusts), "square deal" for all of the Americans, support for the unions, started the forerunner to the FDA, YES, that sounds what a Republican USED to be, today you are just Repuglithans!
Questioner

Castell, TX

#27 May 24, 2011
steve wrote:
the fifth collumn strategy is to infiltrate inside the castle long before an attack comes. what has happened is there are so many sleeper cells inside the castle of pure capitalism, aka , trade with slave labor states, no tax collected from overseas corps, drug testing and permanent record of it, that it tends to create even more sleeper cells inside the castle of pure capitalism. I have become fifth collumn while I in general agree that socialism vs capitalism , I would have said earlier in life capitalism was superior, but the govt has created sleeper cells within the castle. I or people in my situation, the younger ones at least are not just going to roll over and die, there's a limit, I think. heck, I could be wrong.
Please read this closely and rewrite it, is in nonsense as written.

Since: May 10

Salinas, CA

#28 May 24, 2011
Bluebonnets-Thistle wrote:
<quoted text>
And when you nail these corporations with strict regulations, what do you think they'll do next? Love to hear it.
Let them pull a Galt, who give a hoot? Think the US the worlds largest economy will miss them? lol

Money comes to America. Regulations are good. They benefit OUR society. TRY to understand that Bubba!

Funny though, they have had their taxes cut about in half to what they were 30 years ago, yet they still off-shore jobs. Hmm

Since: May 10

Salinas, CA

#29 May 24, 2011
Bob Burns wrote:
<quoted text>The more you attack biz, blame biz for your troubles, the faster they move here, leaving nothing worthwhile or productive or money there. How can a bunch of losers be so intent on losing? You sound more like the palis, or blacks or socialists or looneys every day, a trend, along with your decline, I fully expect to see accelerate, leaving nothing on your platter but poo poo
HaHaHa

Yes, America has problems attracting money here. You're to funny Bubba!
Greg

Hillsboro, MO

#30 May 24, 2011
Would not lowering the available pool of funds for Americans to spend continuously also keep profits from being maximized? Seems to me lowering paychecks is only going to lift profits temporarily. So please tell us, O Wise one, just where will the next round of corporate cuts come from to keep profits at their maximum? When shareholders realize corporations can be run by a Pakistani or Indian with a MBA for 47,000 a year instead of 47 million? My point here is the war on the white collar group will be next. Your work will be deemed no more valuable and will be replaced by foreign graduates at greatly reduced salaries, further maximizing gains.

Since: May 10

Salinas, CA

#31 May 24, 2011
five-one wrote:
Companies laying off when business slows up?No sh*t Sherlock.Maybe obama might figure out how to create a favorable business environment so we can get people back to work.But dont hold your breath.Does Iria ever layoff when they have too many employees for the work they have?You can bet your azz they do.
Why did Dubya hose US then?

What did he do in 8 years again? Besides cut taxes?
steve

Acworth, GA

#32 May 24, 2011
Jonny Boy Central Coast wrote:
<quoted text>
A Republican progressive who believed in estate taxes, breaking up "to big to fail"(trusts), "square deal" for all of the Americans, support for the unions, started the forerunner to the FDA, YES, that sounds what a Republican USED to be, today you are just Repuglithans!
also tariffs, to ensure states like china can't be used by companies like apple who have many of their workers committing suicide. now , every politician on both sides just spouts the aipac agenda.
NYC Dem

Shelton, CT

#33 May 24, 2011
Lib Dems love it too!...The Party of foodstamps and welfare gets 100% of their votes

Since: May 10

Salinas, CA

#34 May 24, 2011
9 Things The Rich Don't Want You To Know About Taxes

6. When it comes to corporations, the story is much the same—less taxes.

Corporate profits in 2008, the latest year for which data are available, were $1,830 billion, up almost 12 percent from $1,638.7 billion in 2000. Yet, even though corporate tax rates have not been cut, corporate income-tax revenues fell to $230 billion from $249 billion—an 8 percent decline, thanks to a number of loopholes. The official 2010 profit numbers are not added up and released by the government, but the amount paid in corporate taxes is: In 2010 they fell further, to $191 billion—a decline of more than 23 percent compared with 2000

7. Some corporate tax breaks destroy jobs.

Despite all the noise that America has the world’s second-highest corporate tax rate, the actual taxes paid by corporations are falling because of the growing number of loopholes and companies shifting profits to tax havens like the Cayman Islands.

And right now America’s corporations are sitting on close to $2 trillion in cash that is not being used to build factories, create jobs or anything else, but acts as an insurance policy for managers unwilling to take the risk of actually building the businesses they are paid so well to run. That cash hoard, by the way, works out to nearly $13,000 per taxpaying household.

A corporate tax rate that is too low actually destroys jobs. That’s because a higher tax rate encourages businesses (who don’t want to pay taxes) to keep the profits in the business and reinvest, rather than pull them out as profits and have to pay high taxes.

http://wweek.com/portland/article-17350-9_thi...
steve

Acworth, GA

#35 May 24, 2011
the conservative side would make really good sense if they weren't simultaneously propping up their favorite businesses. but, the govt insists on playing groups against each other, divide and conquer I guess. In the coming chaos, hopefully the cayman island people are a bit stressed. I wish someone would fly to the cayman islands and bomb that place.
Bob Burns

Kunming, China

#36 May 24, 2011
steve wrote:
I think the govt is putting too many regulations on businesses and individuals but not the right ones. like they make it impossible for businesses and individuals to do business. but as I said, i've got to eat. and a business can just close their doors for decades and start up again later. but I got to eat. and if I don't have a residence because I have no job I don't qualify for certain benefits, but I still got to eat. I've not done it yet but it looks like it would be easy to steal food out of wallmart.
OR....You could move to China!
steve

Acworth, GA

#37 May 24, 2011
Ross wrote:
<quoted text>
You sound like a state or local government employee with both feet in the public trough. That's why the State of Illinois is in such pathetic fiscal shape. Citizens are unemployed and unable to pay taxes and state leadership has made no adjustments in state head count.
Let me say this again. If the economy is down, a company does not need employees. A business manages the number of employees it needs based on the level of business it has. They are not in the business of letting people draw a pay check when there is no work for these employees to do.
What's so complicated about this?
it's a sound principle, but given that people are afraid of starvation, might a business try to spread the work around a little by hiring people part time,instead of just all full time? or cut back on hours and hire more people? otherwise there is likely to be a coming chaos as is so popular a saying these days. I mean there is likely to be some loss on the training and skills front, but might there be a public relations benefits for an astute ceo? this is an opportunity for public relations.

“Liberal Teachers ruin Kids”

Since: Mar 09

Paradise Valley Arizona

#38 May 24, 2011
2012 will bring about change, since The Obama we haven't trial ed Terrorists, we have watched The Obama install communists and socialists into government positions, We have witnessed The Obama not protecting Marriage or Israel, But protecting Terrorists and Radical Black Panther members, The Obama has had Communist George Soros visiting the White House.
The Obama had a well know radical Communist Van Jones on staff in his corrupted admin. He is the most corrupted President since Jimmy Carter. The Obama used information gathered threw the Bush policy's and sent a US Navy Seal Team to get OBL and doesn't even acknowledged or Thank George Bush, wow he is indeed a complete and utter self centered asshole. He is against drilling for oil in our own country, But yet he The Obama allows Brazil to drill in the gulf while its supported by George Soros.
Well my fellow Patriots 2012 is right around the corner, We must get behind Ron Paul or Herman Cain and give them major support.
Because the Liberal Leftist Mainstream Socialist Media is getting ramped up once again to re elect THE Socialist Muslim Liberal Messiah. Who's taxpayer paid stimulus hasn't worked, who's liberal policy;s have made America suitable to terrorist attacks, He won't secure the USA Borders, Hell he wouldn't even kick his aunt out that was here illegally. The stock market is in the toilet because of uncertainly that he has caused in this country with his Messiah Care and Cap and Tax policy's.
I indeed so hope that We the People “The Taxpayer” are awake for this next election.
We need a President that speaks of self reliance and not welfare.
Devin

Newport News, VA

#41 May 24, 2011
Unfortunate, but true. This is the cold fast reality of capitalism.

Spoken like a representative who's void of a Corporations' social responsibility. No ethics. This is part of the philosophy that drives corporations like Massey in West Virginia who are willing to avoid the signals and drive operations in, and through dangerous conditions, which always ends tragically in the death of employees.

Corporations that put defective products in the marketplace think like this also.

In some instances you can't have a conscious and pursue profit.
Ross wrote:
Let me see if I can explain business so that even a moron like Iria can understand.
Businesses regulate the level of employment to meet the needs of their businesses. They are not in the business of running charities...that's why it's called business. And if a business doesn't monitor and right size its head count, it will soon be out of business or the shareholders will be seeking a new member of senior management. Shareholders invest in companies and they expect a decent return on that investment. Once again, they are not running charities.
Only a dumbass like Iria would put an article like this out here...more diahhrea from Iria.

Since: May 10

Salinas, CA

#42 May 24, 2011
steve wrote:
<quoted text>also tariffs, to ensure states like china can't be used by companies like apple who have many of their workers committing suicide. now , every politician on both sides just spouts the aipac agenda.
Yep, until Ronnie "free trade" the US received about 20%-30% average tariff. Today it's at 2%. Lets go back to creating jobs in America, not in other nations!

Since: May 10

Salinas, CA

#43 May 24, 2011
steve wrote:
the conservative side would make really good sense if they weren't simultaneously propping up their favorite businesses. but, the govt insists on playing groups against each other, divide and conquer I guess. In the coming chaos, hopefully the cayman island people are a bit stressed. I wish someone would fly to the cayman islands and bomb that place.
The CONservatives LOVE that socialism, for corps at least, lol

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