xmlns:og='http://ogp.me/ns#'. The Digibandit: Mar 15, 2016

Tuesday, March 15, 2016

The Truth Hurts!

Sweeping statements that free trade = lost income and jobs simply feed the populist dogma sweeping this nation. The lack of growth in middle class take home pay is linked increase in domestic healthcare costs not foreign trade (healthcare cost increases have been largely borne the employer and therefore not counted as part of take home pay). There is a myth that jobs would stay in the US if we simply erected trade barriers and that we can dictate the economy of the world. False. The world economy has moved away from unskilled manufacturing ("blue collar America") to high skilled jobs. American will not maintain its leadership by trying to protect and overpay unskilled labor. High pay jobs require a skilled workforce. 

30 years ago a high school graduate earned only 25% less than a college grad. Today, it's 80% less. Only 30% of US has a four year degree. This is the source of income disparity and pandering to people with promises that we ignore the basic need for a higher skilled workforce may keep a few more people employed today at the cost of leaving your children and the economy burdened by an uncompetitive US workforce that will earn less in the future. You don't improve wages by capping people's opportunity.

Josh Billings
"A) I honestly beleave it iz better tew know nothing than two know what ain’t so.
B) Wisdum don’t konsist in knowing more that iz new, but in knowing less that iz false."