ANALYSIS/OPINION:
Voters must shake up Washington if they want a more prosperous future.
Janet Yellen and the Federal Reserve have pronounced 2 percent annual economic growth — perhaps a bit less — the new normal. Factoring in labor force growth that implies 1 percent growth for productivity and +* pre-tax wages, hardly anyone is average these days.
Workers are supporting — through taxes for government benefits — more retirees and prime-age adults who choose not to work at all.
Earned income from wages and other sources continues to become less equal. New technologies — robots in warehouses, apps that replace taxi dispatchers and the like — are eliminating jobs and driving down wages for ordinary workers. Meanwhile, those with degrees from the most prestigious universities or with training in science, engineering and technology enjoy rising incomes.
More @ The Washington Times
No comments:
Post a Comment