Why work has failed us: Because companies aren’t sharing the profits

[HI Bill]

A welfare queen reference! Wow. Takes me back to the 80s...

And you know she was "on SNAP" how?
And you know she drives an Escalade how?
And you know she ate "better" than you did how?

I stood behind her line at the checkout, saw steaks in her cart, watched her pay with her SNAP card, and after leaving the store, saw her loading her groceries into her red Escalade. I remember being irked that she was gaming the system and eating better than me (and driving a better car than me).

 

[DFDubb]

So 1 or 2 = all then right?

This message board is so far from reality it's not even funny. Everyone here represents such a small sliver of such a minority percentage. Just about every system in this country is so broken that I fear they cannot be fixed. Fearing social unrest is laughable. What would you call what's going on in this country right now if not social unrest?

I say this as someone who's household makes many many times the national household average. Even from here the writing on the walls is in very clear, large, dark font. What has been going on for the last couple of decades is simply not sustainable. I truly fear that it will all come crashing down in my lifetime.

 

[hopefullyoneday]

At 46 years old, he's a bit beyond educating on how hard work, saving, good money management and LBYM is worth it.

He's quite sure in his mind on how the world works, that is: cheat to get ahead, do as little as possible for yourself, your boss is out to get you, 'they' won't let you win, and hope someday to hit the lottery.

He'll get something but, with a drinking and gambling problem, I'm not sure if leaving that guy a half a mil would be in his best interest. There's 9 other nieces and nephews who'll benefit more

His comment had nothing to do with the boat but on our general affluence. He's from DW's side so he isn't quite up to speed on how generational wealth works and, in his case, I'm afraid he'll never find out.

Having this new info about his situation i agree he is already molded and cant be broke. 9 out of 10 good nieces and nephews is a pretty good track record. He must have been napping during class time.

 

[hopefullyoneday]

Why wouldn't the one who is working harder without better compensation just change jobs? That is a better path than giving up.

Though in some cases it could be that the person working harder is not resulting in better results/outcomes and that is the reason that the better comp isn't happening. IOW, some people need to work harder just to keep up.

Very situational.

True, but when i say working harder i mean they produce more or have better results making the company more product or less remakes of a faulty product.
My wife works in production and has switched companies 3 times and the same story. They love her performance and want to promote her so they give her more to do and no money follows. Twice she was doing a supervisor job for months and when it came time to promote they chose another person outside the company and told her to train them. Very insulting.

 

[pb4uski]

Agree that is insulting... she should apply for the next available supervisor opening with another employer... that might work... she'll be the outsider getting that supervisor job.

 

[GravitySucks]

Union! Union! Union!

Good idea.

 

[hopefullyoneday]

She tried twice and was turned down because she never held the title of supervisor. She would need to promote from within to sup then go seek a sup position elsewhere. But her motivation is gone and she just wants to get a check and do her current position.

 

[GravitySucks]

I stood behind her line at the checkout, saw steaks in her cart, watched her pay with her SNAP card, and after leaving the store, saw her loading her groceries into her red Escalade. I remember being irked that she was gaming the system and eating better than me (and driving a better car than me).

Gaming the system like a millionaire working an ACA subsidy?

My niece was on SNAP or WIC and her car broke down a few times so I loaned her the Caddy...

 

[HI Bill]

Gaming the system like a millionaire working an ACA subsidy?

Close. But one involves fraud, while the other is technically legal.

 

[Mr._Graybeard]

Close. But one involves fraud, while the other is technically legal.

It's fraudulent to buy steak or drive an Escalade?

 

[HI Bill]

It's fraudulent to buy steak or drive an Escalade?

Not necessarily. But if you understate your income to qualify for SNAP, it is.

 

[GravitySucks]

How do you know she understated her income? How do you the guy gaming for the ACA is declaring all his income?
Maybe she borrowed the car. Maybe she bought it back when she was flush. Maybe she got a low mile lease.
I know people on SNAP. Most hope to be off it soon. Most are only temporarily on it. Most are responsible with the benefit and buy the most they can to feed their kids. I'm sure there are exceptions but the welfare queen is hardly the rule.

 

[Gumby]

Is there some rule that poor people can't eat steak or lobster? News to me. You do know that SNAP only gives you a set amount of money each month depending on family size. You can't spend it on non-food items (e.g. alcohol, cigarettes, dish soap, toilet paper, diapers, plastic wrap, etc). Other than that, you can buy pretty much any food item you want, including steak and lobster. Now, if you spend all of it on steak the day after the EBT card is filled, you'll be hungry the rest of the month. The wiser thing would be to buy less expensive food so it lasts all month, which is what most people on SNAP do. But it should be your choice what food you buy with the limited amount of money you are given. For me to attempt to dictate your food choices would be dehumanizing.

Some people (it is estimated about 2%) sell their EBT cards for a discount to get cash to buy alcohol and/or drugs. It is, of course, a crime to sell or buy an EBT card, one for which I have prosecuted people. They're not stealing from the taxpayers;we were going to pay out that money anyway. They're generally stealing food from their children, who won't get the nutrition we intend for them.

 

[daylatedollarshort]

Is there some rule that poor people can't eat steak or lobster? News to me. You do know that SNAP only gives you a set amount of money each month depending on family size.

Only if you are a leading authority on what shouldn't be in poor people's grocery carts (from The Onion):

https://local.theonion.com/woman-a-leading-authority-on-what-shouldn-t-be-in-poor-1819576454

"With her remarkable ability to determine exactly how others should be allocating their limited resources for food, local woman Carol Gaither is considered to be one of the foremost authorities on what poor people should and should not have in their grocery carts, sources said Thursday."

 

[NW-Bound]

Some people (it is estimated about 2%) sell their EBT cards for a discount to get cash to buy alcohol and/or drugs. It is, of course, a crime to sell or buy an EBT card, one for which I have prosecuted people. They're not stealing from the taxpayers;we were going to pay out that money anyway. They're generally stealing food from their children, who won't get the nutrition we intend for them.

Perhaps the lobster buyer does it with discounted EBT cards bought for 25c on the dollar?

I wonder if that can be done easily, because I thought the present cards are personalized like a credit card, and no longer foodstamps that can be traded as cash.

 

[Gumby]

Perhaps the lobster buyer does it with discounted EBT cards bought for 25c on the dollar?

I wonder if that can be done easily, because I thought the present cards are personalized like a credit card, and no longer foodstamps that can be traded as cash.

They are on an EBT card, which is like a debit card. If you know the PIN (which is given over to the buyer when the card is sold), you can use it.

 

[target2019]

https://www.cnbc.com/2018/09/06/cbs...eo-moonves-exit-from-the-company-sources.html

CNBC reporter says Moonves will get $100 million exit package. This is how some CBS profit is doled out. Makes investors sick.

 

[JoeWras]

Is there some rule that poor people can't eat steak or lobster? News to me.

It is good, wholesome food. Was it earlier in this thread, or in another thread, where we were complaining that the poor live in food deserts and have to buy convenience foods that are empty carbs and calories?

I'd rather see SNAP going to good fish and meat instead of crap food.

 

[jollystomper]

Well, that depends on the nature of the work. Nurses are a prime example, as is any other occupation that demands "hands on" work. I just read an article about a coming shortage of aircraft technicians, electrical line workers, police officers, and many other jobs that require a physical presence at the location. It's kind of hard to offshore those jobs and the pay scales are beginning to show it. An aircraft technician earns ~$70k a year, not bad for a job that doesn't require a college degree.

There is also "in-shoring" for work that cannot be done offshore, in the form of bringing in overseas workers under various programs (such as the H1B Visa program) where they do not have to pay them as much. I have noticed a great rise in the number of nurses from overseas in the last 10 years. Companies are constantly lobbying for an increase in the H1B Visa program to bring in more tech workers form overseas. Many of these types of workers are then paid on a lower wage and benefit scale - paid as contractors and not as employees.


Many Megacorps claim they have openings and cannot find skilled workers for good paying paying jobs, while laying off many who have those skills or can quickly obtain them. I cannot help if this is just "smoke and mirrors" sometimes It strikes me more as a effort to lower the wages for some of these jobs.

 

[Montecfo]

It has probably never been easier to accumulate wealth, but it does not happen by accident.

"Income inequality" had to be one of the sadder slogans out there. Incomes have never been equal, nor should the be in a capitalist system. Want higher comp? Prepare and qualify yourself for higher paying jobs.

Think wages are low? Why not start a business and harness that "cheap labor" to build value and create good jobs.

Otherwise hustle, save and invest, or you will always be punching a clock OMHO.

 

[Onward]

It has probably never been easier to accumulate wealth, but it does not happen by accident.

Those are the wisest words I've read on this forum in a long time.

 

[pb4uski]

https://www.cnbc.com/2018/09/06/cbs...eo-moonves-exit-from-the-company-sources.html

CNBC reporter says Moonves will get $100 million exit package. This is how some CBS profit is doled out. Makes investors sick.

You forgot the detail about him being due $180 million in severance under the terms of his contract, so if he accepts the $100 million package that is being offered then CBS is saving $80 million.

While under his contract he is due as much as $180 million in severance and a production deal, sources say the board is offering a roughly $100 million exit package made up almost entirely of CBS stock.

 

[Montecfo]

Here's where things start to break down. CEO's are certainly not providing 400% more value now than in the past. It's not a "free market." No-one values these CEO's at that rate except other CEO's, who all sit on each others' boards.

This myth of the "free" market needs to be examined. A marketplace needs structure, rules, regulations and processes. If there's a level playing field, the best players rise to the top. If there are no rules, the biggest bully takes advantage of everyone else.

CEOs are uniquely talented people with rare skills. They are paid that way, if they are effective.

Other elite folks are paid similarly, such as entertainers and professional athletes. Pay for these folks has also risen dramatically as they become better at extracting their worth.

I seldom hear complaints about athletes and entertainers. But this is clearly the free market at work.

 

[HFWR]

https://www.cnbc.com/2018/09/06/cbs...eo-moonves-exit-from-the-company-sources.html

CNBC reporter says Moonves will get $100 million exit package. This is how some CBS profit is doled out. Makes investors sick.

No problem, as long as he doesn’t buy lobster with his SNAP card...

 

[hopefullyoneday]

CEOs are uniquely talented people with rare skills. They are paid that way, if they are effective.

Other elite folks are paid similarly, such as entertainers and professional athletes. Pay for these folks has also risen dramatically as they become better at extracting their worth.

I seldom hear complaints about athletes and entertainers. But this is clearly the free market at work.

Athletes are the worst in my opinion. Their excuse is that their career is short so they need to make more. I call BS, why cant they get another job after their athletic career. Why should they be able to retire as multi millionaires after only a decade of playing a game. Athletes use to play for the love of the sport, now they just do it for the money.