It’s been a very different story in recent years. Corporations have rejected the Henry Ford view in favor of maximizing profits and stock value. Executive compensation has gone through the roof, while the corporations use legal and illegal immigration to provide a steady stream of cheap labor. Between 1979 and 2009, productivity rose 80% and corporate profits doubled, but compensation for average workers only rose a measly 8%. The top 1% now earn almost a quarter of national income.
This is not a call to class warfare, but there is something un-American about exporting millions of good U.S. jobs to Asia. We don’t need to stick corporations with higher taxes or more regulations, but corporations should be held accountable to fulfill their responsibility to the American economy by creating high-paying and secure jobs here at home, rather than sending U.S. manufacturing jobs overseas to Communist China. The Republican Party could use a rebranding. The GOP is needed to represent Middle America.
Listen to the radio commentary here: