It's no secret that CEOs are wealthier now than at any time in history. What is less known, however, is that the working class is poorer than it has been in generations.
Consider:
In 1974, my grandfather was a 20-something mechanic earning $6.25 per hour. It may not sound like a whole lot of money, but when you account for inflation, $6.25/hr in 1974 is equal to
$36.65/hr in 2022.
American Man, regarding trade deficits:
I don't suppose USA's trade balance was negative in your grandfather's time? An annual trade deficit indicates the aggregate net expenditures of its nation's consumers, producers, and governments have exceeded the net value of the nation's entire annual production of goods and services.
Nation's balance of trade increased surplus nations and reduced trade deficit nations annual gross domestic products, (GDPs) more than otherwise. USA producing less goods and services, (i.e. reducing our GDP) is detrimental to our numbers of jobs, workers, their dependents, and to enterprises that are more sensitive to financial conditions of those great portions of our nation's population.
I'm among the proponents of the unilateral trade policy described within Wikipedia's "Import Certificates" article; Refer to
https://en.wikipedia.org/wiki/Impor... are a proposed,Trade Restoration Act of 2006
Respectfully, Supposn