A Quote by Donald Trump
One of the major forces driving the decline in wages and the concentration of wealth at the top is the offshoring of American jobs overseas - reducing wages not only in manufacturing but also across the economy.
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The Trump administration's economic agenda is the right agenda. Corporate taxes have been driving capital and brains and companies overseas for a decade. It has caused huge damage in investment and jobs and productivity. It was a mistake. We have to fix it. Counterintuitively, that usually helps middle-class wages, and lower-class wages, and job formation.
Canada, the United States and Mexico, we developed these energy reserves that we have in this North American region. And you can see a not only driving down the cost of electricity but a major manufacturing boom in this country. Couple that with tax policy, reduction, reducing the corporate tax rate, and that I think a renaissance in manufacturing like we've never seen in this country and really drive the economy.
When the manufacturing decline began in earnest in 2001, the main culprits were the offshoring of jobs to China, with which we have no trade deal, and automation.
The higher the wages the fewer the jobs; the lower the wages the more the jobs.
Globalisation began what should be called the Great Convergence, creating a globalising labour market in which wages in emerging market economies slowly converge with wages in rich economies, generating a steady drop in real wages across Europe.
Offshoring manufacturing jobs left Americans with fewer high-value-added, well-paid jobs, and the U.S. middle class downsized. Ladders of upward mobility were taken down. Income and wealth distributions worsened.
The economy is a ponzi scheme. People are working harder than they ever have for less wages, but we have so many bobbles because manufacturing has come up so quickly over the past hundred years that people have the illusion of wealth.
I said these trade deals are going to be terrible: we're going to lose manufacturing jobs, factories abroad; the real wages of Americans are not going to rise. People are coming across the border; it has got to be stopped.
People understand that the economy is rigged. They're working longer hours for low wages. All new income and wealth, almost all, is going to the people on top.
Ministers have received their wages, and some have their minds too much on their wages. They labor for wages, and lose sight of the sacredness and importance of the work.
It were depression, too. They cut my wages down once at the foundry. They cut my wages down again. Then they cut my wages out, also the job.
Of course, it is not the employer who pays wages. He only handles the money. It is the product that pays wages and it is the management that arranges the production so that the product may pay the wages.
I have had the view that cutting wages is not the path to prosperity, and one of the great myths propagated about my attitude to industrial relations is that I believe in lower wages. I've never believed in lower wages. Never. Never believed in lower wages, I've never believed in lower wages as an economic instrument.
And wages - we'll see the end of this decline we're having. The median income in America is down 10% in just the last four years. That's got to stop. We've got to start seeing rising wages and job growth.
The TPP is another corporate-backed agreement that is the latest in a series of trade policies which have cost us millions of decent-paying jobs, pushed down wages for American workers and led to the decline of our middle class. We want American companies to create decent-paying jobs in America, not just low-wage countries like Vietnam, Malaysia or China. The TPP must be defeated.
On top of that she promises uncontrolled, low-skilled immigration that continues to reduce jobs and wages for American workers, and especially for African-American and Hispanic workers within our country. Our citizens.
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