Why Republican economic theory is not helping...

[Tom Wetmore]

Here is why the economy is in the tank. The gap between rich and poor is ever widening. And a huge part of that reason is the wage disparity between the workers and the executives/shareholders that spend millions to hold down minimum wages while reaping higher and higher maximum wages and profits. http://finance.yahoo.com/news/mcdonalds-8-25-man-8-050001809.html

Here is why the recovery is only sputtering along and further evidence of the fallacy of the hallmark of the heart of Republican economic agenda - trickle-down economics. Just last year the top one percenters saw their earnings rise by 5.5% while those in the bottom 80% saw their earning decline by 1.7%. And over the past 20 years -

Quote:

McDonald's is part of a larger trend of Standard & Poor's 500 companies, according to data from the American Federation of Labor-Congress of Industrial Organizations. The pay gap between the average S&P 500 CEO and the average U.S. worker, which was 42 times in 1980, widened to 380 times in 2011 from 325 times in 2010, the umbrella group of 56 unions said.

[bonnie]

This is why the recovery is only sputtering along and further evidence of the fallacy of the hallmark of the heart of Republican economic agenda -

[Tom Wetmore]

Did you even read the article?

The cause of the economic mess was the economic decisions made during 8 years of Bush economics agenda and a Republican Congress strangle hold that has prevented any significant changes to take place. So no, I have not forgotten.

The minimum wage has simple not kept pace with the cost of living. It is impossible for a family of 4 with two wage earners making minimum wage to survive without help. But the one per centers have not been hurt at all by the rotten economy. They have actually gotten richer.

So if your son works twice as many hours, has twice as much education and 10 times the level of responsibility (however you could possibly measure that) it is OK for him to be paid 380 times what his average worker is paid? That is the average difference now.

OK. What would it really cost McDonalds to raise workers wages? The man in the article was paid $8.25/hour, minimum wage in Illinois. Let's say the minimum wage is increased by just 50 cents so he gets paid $8.75. You can be assured that the CEO isn't going to pay it out of is pocket, nor will the franchisees. McDonalds would just raise its prices. But it would only have to raise its prices 1% to cover that 50 cent per hour increase in wages. Now let's say the minimum wage got a more serious lift to $10.25, where it should probably be. Do the math. The fast food prices would go up 4%. Do you think the average person would even notice paying 20-30 cents more for their McDonalds meal?

[Guest]

The cause of the economic mess was the economic decisions made during 8 years of Bush..

What gets me is that you actually believe that stuff.

[bonnie]

Originally Posted By: Tom Wetmore

The cause of the economic mess was the economic decisions made during 8 years of Bush..

What gets me is that you actually believe that stuff.

Got to love the convenience of the excuses don't you? Mercy,don't lay the blame for the housing mess where it belongs

[bonnie]

Did you even read the article?

The cause of the economic mess was the economic decisions made during 8 years of Bush economics agenda and a Republican Congress strangle hold that has prevented any significant changes to take place. So no, I have not forgotten.

[bonnie]

You cannot support a family on 10.50 an hour. But even at that what do we raise the next level of responsibility to?

Assistant managers at McDonalds would have to be raised from their 12? an hour as well.Or should those with more responsibility not be compensated?This is not out of McDonald's profits but the person that invested roughly a million dollars and a lot of hours and risk for 200,000.00 net income.One of those evil rich Obama wants to pay.

CNA's here make on average 12-13.00 an hour.No one can deny the very valuable service they provide.They want higher wages as well.What should they get? 15.00 or more? Then what do the LPN's get? They by rights should get more than the 18-24.00 per hour they are getting.What about the RN's at average 32.00 an hour?What do they get bumped up to? 35-37.000.

Entry level is entry level,not a family supporting career.

Learn a trade,skill.Even if it takes awhile and part time further your education.Don't tell me people can't. Millions do it every day.

[Robert]

Quote:

'I'll keep my God, my freedom, my gun and my money. You can keep "THE CHANGE".'

1] You aren't free - that's delusional

2] your gun will not save you....other have guns too.

3] my money....now that's the spirit of Christ

4] "the change"? How much did Christ give up for you? Answer: All!

What I'm reading is the redneck's badge of honor. It's stupid, Bonnie.

[bonnie]

1] You aren't free - that's delusional

Your delusional. There will be a time when we are not but

I am free to earn an income.What I shouldn't be free to do is Woe is me' date='my parents were poor,whatever could I do,"Give me",I was free to raise my children with the values I wanted them to learn,I could send them to the schools I wanted while providing education for others in the public schools,I can attend the church I wish to or none at all, I can purchase a home of my choice based on my ability to pay ,I can go where I please tonight to go out for dinner.I am free to do pretty much as I please as long as I am not harming others

2'] your gun will not save you....other have guns too.

Really,you come up with such amazing facts. Many times a well

prepared individual is able to prevent harm to themselves and family.

3] my money....now that's the spirit of Christ

If I earn the money it is mine in a secular sense. It does not belong to Obama/government and his skewed understanding of being "my brother's keeper"

But before you get to pious over my money,saying it is mine is not an indication that I am going to hoard every dime I can while others around me are going hungry.

Rest assured I am not going to own a very expensive,needless vehicle,while telling others,"I don't have to" on the subject of sharing your wealth. Before you worry about my money,take a little private reflection on what you do with yours. My money and what I do with it is between God and myself.

4] "the change"? How much did Christ give up for you? Answer: All!

I know it is becoming common but let's not confuse what Christ has done for any of us with the government.

The government has given up NOTHING for me. There isn't any reference to Christ keeping the change.Some seem to have this notion that the government is Christ's representative on earth.I don't. How much "change" do you part with.I much prefer giving to those I know will handle it wisely or to those I can directly.

What I'm reading is the redneck's badge of honor. It's stupid, Bonnie.

When you want to misrepresent what is said,it is not stupid,it is dishonest.But of course there are those that don't think that is a problem

[bonnie]

And then there is Hostess http://www.alternet.org/corporate-accoun...ions-and-put-it

Interesting that this should be used as a Republican economic theory. Far more to this story.

It does not appear anything illegal was done,whether it was morally right or not is another story.

Maybe the right or wrong has to do with the powers that be behind the scenes.

Obviously democrat in makeup Gephart and the union bosses seem to have made out rather well

Hostess is bankrupt … again - Fortune Management

Jul 26, 2012 ... Gephardt is now a lobbyist and consultant with connections to Hostess ... The deepest pocket: Ripplewood Holdings, a PE firm based in midtown .... Its terms guaranteed him a base annual salary of $1.5 million, plus cash ... Dick Gephardt, former House majority leader and current CEO , Gephardt Group ...

management.fortune.cnn.com/2012/07/26/hostess…

The Hostess Liquidation: A Curious Cast Of Characters As The ...

Nov 16, 2012... long-term heartthrob Dick Gephardt (whose consulting group just happens to ... Ripplewood is run by Tim Collins, 55, who's been at the center of other .... As Management Seeks To Pay $1.75 Million In "Incentive" Bonuses ...

www.zerohedge.com/news/2012-11-16/hos…

Blog: Who killed Hostess?

Nov 21, 2012 ... No tears need to be shed for Ripplewood and its investors, but they weren't ... While the unions and their media allies like to cite executive salaries and ... they are ignoring left winger Dick Gephardt cashing in for himself, and ...

www.americanthinker.com/blog/2012/11/who_ki…

US: Hostess to close three plants as strikes continue

Nov 15, 2012 ... Ripplewood has ties to former Democratic US House Majority Leader Dick Gephardt, whose son, Matthew, was recently appointed to the Hostess board as an independent director at a salary of $100,000 a year. The company ...

www.wsws.org/articles/2012/nov20…

Hostess doomed by management, not unions | Daily Marion

Nov 20, 2012 ... He used former Dem Congressional leader Dick Gephardt's labor ties in ... Ripplewood's investment of $130 million and the unions' sacrifice of ... 1) 8% hourly pay cut in year 1 with additional cuts totaling 27% over 5 years.

www.dailymarion.com/2012/11/20/hostess…

Ripplewood Holdings | marfdrat

Nov 16, 2012 ... Browse: Home / Ripplewood Holdings ... down on their request to lessen Hostess's desired pay cuts, so Hostess shut the whole thing down.

www.marfdrat.net/tag/ripplewood-hold…

Climateer Investing: Evil (Democrat) Private Equity Crushes Twinkie ...

Nov 16, 2012 ... They thought it was about pay and benefits when it was about survival. ... Teamsters' long-term heartthrob Dick Gephardt (whose consulting group just ... Ripplewood is run by Tim Collins, 55, who's been at the center of other ...

Hostess/ Ripplewood filed for bankruptcy in January 2012 ... Meanwhile the CEO salry was increased to $2,250, 000 and pay of the executives .... the Teamsters' long-term heartthrob Dick Gephardt (whose consulting group ...

www.selectsmart.com/DISCUSS/read.php?16…

Let Them Eat Cake ~ gad-fly

Nov 16, 2012 ... It is instructive to see the fat-cat salaries that the union bosses receive. ... out of bankruptcy by Ripplewood Holdings which is run by Tim Collins, a Democratic financier connected to "Little" Dick Gephardt's labor consulting firm.

[bonnie]

"Qu'ils mangent de la brioche"

Hostess Brands has filed a petition in bankruptcy to liquidate its assets after the union representing production facility workers rejected a reduced pay contract offer from the company. 18,500 jobs will be lost. Interestingly, the Teamsters, representing Hostess transport and delivery drivers had advised the striking bakery workers that this was the best deal they could get.

The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees, but the Bakery Union has decided to end the jobs for its members as well as for 13,500 other Hostess workers in an economy headed into another recession. In August the Teamsters Union representing some 7,500 Hostess workers voted by secret ballot to accept terms similar to the company's proposal to the bakery workers. Four other smaller unions have ratified the company's offer that was filtered through the U.S Bankruptcy Court, Southern District of New York. But the Bakery Union never had any intent to make the concessions necessary to keep Hostess afloat. All we have to read is this "elegant" public statement was made by the BCTGM union president after the Teamsters ratified their new contract in August.

“I would never sign this piece of [censored],” says Frank Hurt, president of the Bakery, Confectionery, Tobacco Workers and Grain Millers union (BCTGM), the second-largest labor organization at Hostess after the Teamsters.

Jennifer Rubin, in her Washington Post column, has hit the nail on the head:

It is instructive to see the fat-cat salaries that the union bosses receive. The March 2012 LM-2, the annual filing required by the Department of Labor for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union reveals that union bosses collectively received more than $3 million in compensation. The secretary treasurer takes down a whopping $196, 627 while the president rakes in $210,672. Hey, the Big Labor execs have their dough, so why should they sweat, a month before Christmas, about 18,500 employees going jobless? Perhaps they should adopt a new slogan for their union: "Let ‘em eat cake".

There is irony in the upcoming asset liquidation. Hostess Brands predecessor, Interstate Bakeries was bailed out of bankruptcy by Ripplewood Holdings which is run by Tim Collins, a Democratic financier connected to "Little" Dick Gephardt's labor consulting firm. As can be seen below the embittered union folks are now sticking it to their Democrat ally in the Ripplewood private equity firm. Everybody loses except possibly the hedge funds.

[Tom Wetmore]

And then there is Hostess http://www.alternet.org/corporate-accoun...ions-and-put-it

[Neil D]

Good night!!!!

Where are the rubber boots?????

This acid filth is terrible......ruins shoes....corrodes flesh....

How can you guys stand it here?????