How the US is creating a low wage workforce: Foreign born workers earn 79.9 percent compared to native born workers. Who gains/Who loses -Power and Profits

Real Hourly Wages May

Over the last decade the U.S. has entered into a low wage economic trend impacting the overall economy. The result has been for many once middle class familiesto fall one or two rungs lower on the economic ladder. Many corporations have boosted their bottom line by using slack in the labor force to cut wages, slash benefits, and ultimately filter more profits away from workers. This is how you achieve a record level in the stock market yet wages have been stagnant for well over a generation adjusting for that p20131001_pooresky background “noise” of inflation. Another way that wages get depressed is by examining our foreign born workforce. There is data showing that foreign born workers earn 79.9 percent less than native born workers in the U.S. Even when we look at college education, we find that foreign born workers simply add more pressure on current workers giving companies an excuse to undercut wages and in many cases slash benefits. For example, this is very common in the tech sector where companies will bring in foreign born workers via H1-B visas and pay workers reduced wages and typically these workers received paired down benefit packages. This is simply another example of how we are entering a low wage workforce.

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/07/Consumers_Spending_More_Just_Not_on_Things_They_Want.pdf”] [gview file=”https://troutinmilk.com/wp-content/uploads/2014/07/mybudget360.com-How_the_US_is_creating_a_low_wage_workforce_Foreign_born_workers_earn_799_percent_compared_to_native_.pdf”]

via How the US is creating a low wage workforce: Foreign born workers earn 79.9 percent compared to native born workers.

All you need to do is look at the headlines out of Central America to see why tens of thousands of children are ending up at our border.

“In Columbia [sic], Rising Violence Breeds New Doubts” (New York Times); “Guatemala Seen Slipping Into a Haven For Drugs” (Los Angeles Times); “Democracy Jeopardized as New Wave of Violence Sweeps Guatemala” (AP); “The Volcano That Is Guatemala” (St. Louis Post-Dispatch); “A New Dark Age for Latin America?” (Miami Herald); “Murder Soars in El Salvador” (Washington Post); “Social Breakdown Turns Deadly in Guatemala” (Washington Post); “Roadside Rampage: Salvadoran Murders in Guatemala Raise Stake of Central American Drug-Addled Violence” (States News Service); “Drug Cartels Take Toll on Guatemala’s Politics” (Atlanta Journal-Constitution).

No wonder we have so many refugees at our door.

Except there’s one hitch: All of these headlines are very old. The first is from 1987, the last from 2007. And yet, over those two decades, we never saw anything like what we are seeing today.

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/07/When_Politics_Trumps_Border_Security.pdf”]

The Billionaires want the immigration surge–low wages and the needed laborers to work in the Casinos and to trim the hedges on the estates–its good for business, their businesses. 

[gview file=”https://troutinmilk.com/wp-content/uploads/2014/07/Sheldon-Adelson-Warren-Buffett-and-Bill-Gates-on-Immigration-Reform-NYTimes.pdf-1.pdf”]

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