Economic disparity, everyone knows about it but few really understand why we have it. The President spoke the other day about how there was a day when even if you didn’t graduate high school you could have got a job in a factory or plant and make a decent living to raise a family, have a vacation, own a home and retire. He also said that those days are gone and we are only going to have good paying jobs for well, college educated people. There is a problem with that and that is a lot of people are simply not fit for college and as I stated some 30 years ago in another letter to the editor, I warned that these days would come. When people were saying education is the silver bullet to fix poverty. Not true, ask the millions who now have degrees and can’t get work or the work they now get pays half of what it did when they started out their education. It is simple, supply and demand reduces the value of education in a “free market” environment. Also, at one point, 50% of billionaires had no high school diploma! How do you get rich with no education? Simple,exploitation and politics. That’s not capitalism, not true capitalism. That’s exploitation.
The President’s statement also disregards the need for people to do the work that does not require an education of sorts. Custodians, trash collectors, waitresses and waiters and the real biggie retail workers in stores. This is a special notice for those brave people now protesting at fast food restaurants around the country for better wages. What I have been advocating but getting 0 response to for what ever reason is a minimum profit sharing law. Economic disparity is here because we have allowed the people who do the work to be taken advantage of in the market place by those who take the money from those labors and tell these workers they aren’t worth what they are paying them now. Guess what, they are right they are worth much more than what they are being paid not less. Without them the rich would not be able to take one dollar in profit and their money would be useless. That is why we need to attack economic disparity where it is created and that is at the corporate or business bottom line. We have a minimum wage law. What we need is a minimum profit sharing law that requires companies and any business that is making a “profit” of more than $10 million a year to put a minimum of 10% back into the hourly work force that created it.
We have to have decent livable wage jobs for people who for what ever reason if by choice or capability do not get a higher education. The value of a worker is not determined simply by their education. In business it is easy to figure out the value of a worker any worker in any company. Simply take the number of man hours worked and divide it by the profit made and you will find that value. For every 10,000 man hours worked in $1 million of profit that is $100 an hour of profit made by the company from every hourly employee. That is a fact. There are other ways to calculate an employee’s worth or value that are not related to the hours worked .That is where you can get the Walmart figures. Not knowing the total number of hours does not mean you cannot calculate or approximate because all you need to know is the number of employees a company has. Since Walmart brags about having over 1 million employees simply divide the number of employees by the amount the company posted as a profit in a year. Last year it was something like $27 Billion. Divide 10% or $2.7 billion by the 1,300,000 worker’s they brag about and each worker would get a bit over $2,000 bonus or well over 10% of what the average Walmart worker gets in a year and the 6 owners of the company would still get over $24 billion! Such a small price for Walmart and many other big corporations to have to distribute to the people who make them multi-billionaires EVERY YEAR! 10% really is a minimum profit share don’t you think? I would say 50% would be better for such large companies.
I am going to to explain the problem we have with the word business. People have been conned into believing that a business is in business to make money. That is simply not true. Business is to supply the needs and wants of the people as a way of producing & distributing those needs and wants to the people. That is the first order of a business. The second order of Business is to supply the jobs and income to the people the business employs for those jobs at the highest rate possible not the lowest rate possible. Third a business is supposed to be good stewards in the communities upon which it relies to do it’s business meaning the business should pay its fair share of taxes and support the community in that way to the best of its ability not the least it can do. After a business does all that and does it well then it should make a profit for itself and those who created the business. Profit is not the motive of business it is the dessert, the profit motive is the motive of greed.
Photo by Brave New Films