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Old 08-10-2013, 02:10 PM  
gblowfish gblowfish is offline
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US Companies Thrive as US Workers Fall Behind

Says that Communist, Prava Worshiping Fish Wrap The New York Times.

U.S. Companies Thrive as Workers Fall Behind
By FLOYD NORRIS
Published: August 9, 2013
http://tinyurl.com/mmvdkl7

AMERICAN companies are more profitable than ever and more profitable than we thought they were before the government revised the national income accounts last week. Wage earners are making less than we thought, in part because the government now thinks it was overestimating the amount of income not reported by taxpayers.

The major change in the latest comprehensive revision of the national income and product accounts known as NIPA to statistics aficionados is to treat research and development spending as an investment, similar to the way the purchase of a new machine tool would be treated by a manufacturer, rather than as an expense. That investment is then written down over a number of years.

The result is to make the size of the economy, the gross domestic product, look bigger, and to appear to be growing faster, in years when new research spending is greater than the amount being written down from previous years. For the same reason, corporate profits also look better in those years.
A lot of money is spent on research and development. Nicole Mayerhauser, the chief of the national income and wealth division of the Bureau of Economic Analysis, which compiles the figures, said that in 2012 the total was $418 billion, about one-third of which was spent by governments. That amounted to about 2.6 percent of G.D.P.

The other major conceptual change deals with pensions. Until now, corporate and government contributions to pension plans were counted as personal income only when the contributions were made. Under the revision, the government estimates how much should have been contributed to meet the promises made to workers, and counts that amount, whether it is higher or lower than the amount actually put into the pension plan. That causes personal income to appear larger in years when pension contributions are lower than they should be.

The revised numbers also reflect some better information as new data becomes available. Ms. Mayerhauser said that it now appeared that in recent years the government might have overestimated the amount of income that went unreported by taxpayers, including the amounts of unreported tips received by restaurant employees. Revising those figures down meant that workers as a group appeared to be doing even worse than they had appeared to be doing.

And that was none too well. Before the figures were revised, it appeared that wages and salary income in 2012 amounted to 44 percent of G.D.P., the lowest at any time since 1929, which is as far back as the data goes.
But the revisions cut that to 42.6 percent, which matched the revised 2010 figure as the lowest ever.

The flip side of that is that corporate profits after taxes amounted to a record 9.7 percent of G.D.P. Each of the last three years has been higher than the earlier record high, of 9.1 percent, which was set in 1929.
The charts help to demonstrate how the post-recession economy differs from the one before the downturn. In the three years from 2005 through 2007, the share of G.D.P. going to corporate profits was 1.5 percentage points lower than it was during the years 2010 through 2012. The share going to workers was 1.1 percentage points higher during the earlier years.
Corporate taxes, as a proportion of corporate profits, rose to a four-year high of 21.6 percent in 2012, but remained well below the long-term average level. Personal taxes also hit a four-year high, at 14.1 percent of personal income, but were still well below the historical average.
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Old 08-10-2013, 04:13 PM   #2
HonestChieffan HonestChieffan is offline
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" because the government now thinks it was overestimating the amount of income not reported by taxpayers."



So this is based on a new estimate of something that cannot be validated.


****ing bullshit from professional bullshitters who need to try to look good because they fail at every turn.
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Old 08-10-2013, 10:29 PM   #3
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Personally, I don't consider a privately owned or publicly traded company that happens to be headquartered in the U.S. a U.S. company.
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Old 08-11-2013, 07:22 AM   #4
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Its good to see the work continues to reframe profit as evil . We must break the hold profit has and learn to celebrate losses that are good and correct.
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Old 08-11-2013, 07:36 AM   #5
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Profit is bad mmmmmmkay.
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Old 08-11-2013, 07:47 AM   #6
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Quote:
Originally Posted by HonestChieffan View Post
Its good to see the work continues to reframe profit as evil . We must break the hold profit has and learn to celebrate losses that are good and correct.

ya, so it's called working hard to get your company really profiting and then not being included in the reward.
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Old 08-11-2013, 08:22 AM   #7
HonestChieffan HonestChieffan is offline
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Originally Posted by Buzz_TinBalls View Post
ya, so it's called working hard to get your company really profiting and then not being included in the reward.

People who work for free really do get screwed.
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Old 08-11-2013, 08:25 AM   #8
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Old 08-11-2013, 09:56 AM   #9
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Originally Posted by HonestChieffan View Post
Its good to see the work continues to reframe profit as evil . We must break the hold profit has and learn to celebrate losses that are good and correct.
Profitability is highly, highly overrated. It is too often short-term oriented, even if those decisions hurt the long-term health of your company.

Many times executives drive up profits in order to pad their own paychecks. That means they slash costs and operations that are necessary to grow the business, and they come out looking like they made the company more money.

I would rather companies invest back into their companies. Build new plants, hire better skill workers, re-train your work force, or invest in some program to improve employee engagement.
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Old 08-11-2013, 09:58 AM   #10
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ya, so it's called working hard to get your company really profiting and then not being included in the reward.
In labor decisions, people typically have a choice. If you're not getting paid enough or getting enough of a bonus, you can leave. And that hurts your company because they then have to pay money to recruit your replacement.

So I don't think compensation of the labor force is the problem. It's moreso that I think executives are too often trying to boost their own compensation vs. looking out for the long-term health of their businesses. People shouldn't make more money just because, but the company could easily be investing back into making them better workers which is a win-win.
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Old 08-11-2013, 12:49 PM   #11
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Originally Posted by chiefzilla1501 View Post
Profitability is highly, highly overrated. It is too often short-term oriented, even if those decisions hurt the long-term health of your company.

Many times executives drive up profits in order to pad their own paychecks. That means they slash costs and operations that are necessary to grow the business, and they come out looking like they made the company more money.

I would rather companies invest back into their companies. Build new plants, hire better skill workers, re-train your work force, or invest in some program to improve employee engagement.
Yes, the focus on the earnings game is atrocious these days. With the whisper game to analysts so they can lower/raise expectations way before a quarter is over just so when the quarter is over they can say they beat expectations.
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Old 08-11-2013, 12:51 PM   #12
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Its good to see the work continues to reframe profit as evil . We must break the hold profit has and learn to celebrate losses that are good and correct.
Please point out where the author said profit was evil or attempted to frame profit as evil.
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Old 08-11-2013, 02:44 PM   #13
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Quote:
Originally Posted by HonestChieffan View Post
People who work for free really do get screwed.
what is the obscured mssg here?

Quote:
Originally Posted by chiefzilla1501 View Post
In labor decisions, people typically have a choice. If you're not getting paid enough or getting enough of a bonus, you can leave. And that hurts your company because they then have to pay money to recruit your replacement.

So I don't think compensation of the labor force is the problem. It's moreso that I think executives are too often trying to boost their own compensation vs. looking out for the long-term health of their businesses. People shouldn't make more money just because, but the company could easily be investing back into making them better workers which is a win-win.
I agree to some extent, but the american wage is falling every year with inflation (or the devaluation of the USD is more accurate) and there isn't enough jobs to support a healthy middle class in the US.

US corps (or corps employing US workers) know this and don't give one shit as they continue growing the workforce in 3rd world countries.

It isn't good for america. in fact, it is poisoning america year after year by exporting employment that is necessary for a healthy middle class. and, it devalues the USD by taking away a huge american resource that used to be considered "the edge" over other competitive products from other countries -- it takes away american human resources.
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Old 08-11-2013, 02:48 PM   #14
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We must break the hold profit has and learn to celebrate losses that are good and correct.
Progress marches on...

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Old 08-11-2013, 02:57 PM   #15
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So is it in dispute that us wages aren't keeping pace with corporate gains? Or are some simply saying that it is happening but nothing to be concerned about?
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