Obama wants businesses to raise pay. Here’s why they probably won’t listen.<quoted text>In a report released in January of 2014, Goldman Sachs Chief U.S. Economist noted that the strength in corporate profits is "Directly related to the weakness in hourly wages. Companies have discovered that precisely by keeping wages lower, They have been able to boost profits to record levels and fulfill their ultimate goal: Rewarding Shareholders."
Yep, those Democrats fight tooth and nail to keep wages suppressed. While the people who do absolutely nothing are making record profits. And enjoy those huge tax breaks that they have bought and paid for. The House GOPT scream about cutting spending, yet almost every thing they pass has even more revenue reducing amendments attached as favors for those same people.
January 29, 2014
Here’s the trouble with Obama's request. Companies have discovered that precisely by keeping wages lower, they have been able to boost profits to record levels and fulfill their ultimate goal: rewarding shareholders. In a report released earlier this month, Goldman Sachs chief U.S. chief economist Jan Hatzius noted that the strength in corporate profits is “directly related to the weakness in hourly wages.”
“The weakness of wages and the resulting strength of profits are telling signs that the U.S. labor market is still far from full employment,” Hatzius wrote.