Thursday, May 11, 2006

Jim Webb criticises job losses, CEO pay, treatment of workers

Blogging today on the Daily Kos, Jim Webb offered the following comments which should reasonate with many of us looking for real change in the Senate.

I believe that the internationalization of our economy, plus out-sourcing, has caused a situation where the health of the financial sector no longer is an indication of the health of the economy. Along with this, such things as Corporate CEO compensation packages are totally out of control, and often are based on how badly the average worker has been ripped off.

I saw a set of charts about a week ago which show a startling reality. The first chart showed "after-tax corporate profits" as a percentage of our GDP, which are at an all-time historic high. The second showed wages and salaries as a percentage of GDP, which are at an all-time low. And in the middle, as we all know, are the good jobs that have gone overseas.

We must try to correct this very dangerous bifurcation in our society.


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