Drudge Retort: The Other Side of the News
Friday, July 13, 2018

Six months after the Tax Cut and Jobs Act became law, there's still little evidence that the average job holder is feeling the benefit. Worker pay in the second quarter dropped nearly one percent below its first-quarter level, according to the PayScale Index, one measure of worker pay. When accounting for inflation, the drop is even steeper. Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale.

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The GOP seems ever stronger for November.

#1 | Posted by Zed at 2018-07-13 10:25 AM | Reply

They've got their base so gas lighted they're not even going to vote with their wallet anymore. They're sure Trump is doing it because he has to, being the great bidness man and all.

They're beaten spouses these days. That's it.

#2 | Posted by jpw at 2018-07-13 10:34 AM | Reply

As predicted.

#3 | Posted by donnerboy at 2018-07-13 11:19 AM | Reply

FFS people, measuring worker pay using the PayScale Index? The article discusses economic markers with an executive from PayScale?
PayScale Index created via
the Internet by enabling individual employees to submit their job profile and salary data, which is then compared to others. The company claims that it is able to use the volume of information statistically to determine accurate real-time salary information.
"The company generates revenue by selling aggregate data and web services to employers, to aid in determining correct market rates for hiring, benchmarking and budgeting, and by targeted advertising to employees that visit its web site. "

Here's what the BLS has to say:
All employees: https://www.bls.gov/news.release/realer.t01.htm
Non-management employees: https://www.bls.gov/news.release/realer.t02.htm
The short version: Wages have gone up year-to-year. Consumer Pricing Index has gone up year-to-year.
"real wages fell 1.4 percent from the prior year, according to PayScale" vs. BLS statement: where wages fell .1%, but workers are working 6 more minutes per week so real average pay remains the same as last year.

It's easy to tell when a publication wants to promote ad revenue via page visits and inflammatory headlines when they don't use data from the source, but instead an ad-selling private company.

#4 | Posted by Avigdore at 2018-07-13 11:31 AM | Reply | Newsworthy 1

Unemployment is at a 20 year low.
But wages haven't gone up.

At least, that's what the Fed chairman said on the radio yesterday.

#5 | Posted by snoofy at 2018-07-13 11:37 AM | Reply

It hasn't trickled down the bosses leg yet to get to the employees. I'm sure it will unless it just collects in his shoe. Oooooh!

#6 | Posted by danni at 2018-07-13 11:48 AM | Reply | Funny: 2

"but workers are working 6 more minutes per week so real average pay remains the same as last year."

Those lucky bastards! 6 whole minutes extra minutes a week! Why I might to be able to buy my yacht in the year 2055 for sure!

There ought to be some nice models out by then, too.

#7 | Posted by donnerboy at 2018-07-13 12:11 PM | Reply

Meh, yachts are overrated. My buddy has 6 boats. 2 of them yachts. They're moored around his property (or sitting on shore) in Portsmouth. People need to learn what it really means for something to be a 'yacht'. I think he owns one of those boats (his first yacht) because it met the definition and enabled him to use it to pick up girls at the bar. Yachts (33foot+ sailing vessels) really aren't necessarily anything spectacular. Here's a $4500 yacht.
norfolk.craigslist.org
Looks like you'd need to make about $2.50 for your 6 minutes every week to afford her in 2055 (everything else remaining constant).

#8 | Posted by Avigdore at 2018-07-13 12:33 PM | Reply

"wages drop while companies spend billions to boost stocks"

As planned. That's why the stock market is up.

#9 | Posted by BruceBanner at 2018-07-13 03:40 PM | Reply

#8 way to miss the point.

#10 | Posted by BruceBanner at 2018-07-13 03:41 PM | Reply

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His raison d'être is to miss the point.

#11 | Posted by snoofy at 2018-07-13 03:43 PM | Reply | Newsworthy 3

Wages Drop As Companies Spend Billions to Boost Stocks

Everything you need to know as to how we got to this point can be found here ...

Who Stole The American Dream?
youtu.be

#12 | Posted by PinchALoaf at 2018-07-13 08:52 PM | Reply

A free market will force down US wages towards the global average. US rich people want the benefits of a free market, so wages are going down even if jobs go up.
.ps Trump wants wages to go down too.

#13 | Posted by bored at 2018-07-13 08:59 PM | Reply

Extreme douchebaggery is in. Extreme poverty is out. Get with the program!

#14 | Posted by cbob at 2018-07-13 09:01 PM | Reply | Funny: 1

His raison d'être is to miss the point.
#11 | Posted by snoofy

mmmmmmmm raisins

#15 | Posted by truthhurts at 2018-07-13 09:55 PM | Reply

In other words, the stock market is artificially inflated, and Trumpers were played for fools yet again.
...
Gee, whoda thought that possible?

#16 | Posted by e1g1 at 2018-07-13 11:26 PM | Reply

Are these employees paid what they contracted [signed on the dotted line] for? Of so, then I see no problem. Should they work for a public company [i.e., issues stock], then they are more than welcome to invest[purchase stock] and take the same risk that investors have when they buy into a company.

#17 | Posted by MSgt at 2018-07-13 11:59 PM | Reply

#17
Let them eat stock!
~Msgt Antoinette

#18 | Posted by Danforth at 2018-07-14 12:08 AM | Reply | Funny: 1

Per the link ...

The popularity of stock buybacks in the wake of the corporate tax cuts has drawn lawmakers' attention.

A group of senators wrote to the SEC late last month, asking the agency to review the rules around buybacks.

"The explosion of stock buybacks has funneled corporate profits to wealthy shareholders and corporate executives instead of workers and long-term investments that spur sustained economic growth," they wrote.


Stock buy backs in this manner USED to be called "insider trading" and it USED to be illegal.

#19 | Posted by PinchALoaf at 2018-07-14 12:23 AM | Reply

A lot of the problems in our financial system are caused by things that USED to be illegal.

#20 | Posted by WhoDaMan at 2018-07-14 02:24 AM | Reply | Newsworthy 1

Trickle down = piss on you

#21 | Posted by RightisTrite at 2018-07-14 09:06 AM | Reply

#18 | POSTED BY DANFORTH AT 2018-07-14 12:08 AM | FLAG: Again, if they are paid what they contracted to be paid - not a problem. Investing requires accepting risk [think ENRON], so once again, if a public company, any employee can participate in it's fiscal success [or failure] by purchasing stock in that company. If they are risk adverse, then just continue to be paid what they signed up for.

#22 | Posted by MSgt at 2018-07-14 11:09 AM | Reply

#8 way to miss the point.

#10 | POSTED BY BRUCEBANNER

He didnt miss it, he drove 47 miles down a dirt road to avoid it.

Avignorant is nothing buy Goatman with a Russian accent; he finds a single word or phrase to become panties-in-a-wad over and Av-ignores the thrust, meaning and heart of a statement.

#23 | Posted by oldwhiskeysour at 2018-07-14 11:14 AM | Reply | Newsworthy 2

"Again, if they are paid what they contracted to be paid - not a problem. "

First, they never "contracted" to be paid any certain amount.
Second, as I have experienced in my life working, employers change the conditions of employment at will without regards to the promises they made when the employee was hired.
Third, employers have all the power in right to work states and the SC has eliminated the power of public service unions too. That wasn't a constitutional issue, it was just an attack on labor.
We live in an oligarchy and unless we change that things are only going to get worse for labor.

#24 | Posted by danni at 2018-07-14 12:00 PM | Reply | Newsworthy 3

#24 - An extremely accurate critique'.

#25 | Posted by getoffmedz at 2018-07-14 12:58 PM | Reply

"Again, if they are paid what they contracted to be paid - not a problem."

I agree. Just don't sell a corporate tax giveaway as a wage stimulant, when in reality, it's a wage suppressant.

Also, they claimed this tax code was a middle class tax cut, which is like calling a double cheeseburger with bacon, tomato, lettuce, onion, and pickle a lettuce sandwich. Oh it's in there, all right, but it's not the main ingredient, or even the secondary ingredient.

In fact, it's not even a middle class tax cut if this code lasts as long as the last overhaul, it's a middle-class tax increase. And all on additional borrowed money, another $11,000 for every man, woman, and child who does (or will) pay income tax.

#26 | Posted by Danforth at 2018-07-14 02:15 PM | Reply

There is a fundamental difference between contractors and employees. Contractors are NOT employees. employees are not contracted they are hired. They are part of the company they work for not a separate entity.

#27 | Posted by hatter5183 at 2018-07-15 01:23 PM | Reply | Newsworthy 1

Avignorant is nothing but Goatman

Goatman has too much pride to come back with a different username.

Avigdore is AndreaMackris.

#28 | Posted by ClownShack at 2018-07-15 01:34 PM | Reply

wages fell .1%, but workers are working 6 more minutes per week

Sweet less free time for the same income! With any luck next quarter wages will drop 1% and I can work an extra hour for no extra money. I mean I enjoy the extra 6 min. but really it doesn't keep me away from my wife and kids enough.

#29 | Posted by TaoWarrior at 2018-07-15 01:58 PM | Reply | Funny: 1

"A lot of the problems in our financial system are caused by things that USED to be illegal."

When I was a young adult if you needed money badly enough you could go to a company like Household Finance Corp. But they would charge a high interest on loans, maximum of 18% which was the maximum allowed by law. If you were more desperate you could go to a loan shark, today loan sharks are payday loan companies. We allow their lobbyists to buy Congressmen. And Republicans don't even see anything wrong with that. What country do we even live in today because this is not America.

#30 | Posted by danni at 2018-07-15 02:55 PM | Reply

I think AndreaMackris broke up with Nullifidian over the whole transgender batroom access issue manufactured by right wing bigots and heartily endorsed by Nullifidian.

#31 | Posted by snoofy at 2018-07-15 03:06 PM | Reply

#30 | POSTED BY DANNI AT 2018-07-15 02:55 PM | FLAG: I never approved of ultra high interest rates like that as when a young airman I had a situation where I had to go to Beneficial Finance for a small loan [which ended up costing me quite a lot]. That said, just who is going to loan money to someone with no established credit [like my situation back then], or worse - bad credit? There is a reason someone with a 839 FICO like me can get a very low interest loan [for a car for example] where as a low FICO is required to pay a much higher rate.

Personally, I have upon occasion in the past loaned people money and found out the hard way why the hit me up [noone welse would aid them]. After being burnt a couple of time I have never again loaned my money.

#32 | Posted by MSgt at 2018-07-15 04:34 PM | Reply

"There is a reason someone with a 839 FICO like me can get a very low interest loan [for a car for example] where as a low FICO is required to pay a much higher rate."

Not all loans are created equal.

The fact that capitalism thrives in a democracy doesn't change the fact that just a few people in this would control most of the wealth, and you're not one of them, and you never will be.

What's the reason someone as successful as you needs a loan in the first place? Just to consume more resources. It doesn't do any good, it's just a jobs program, dreamed up by the wealthy which you've bought into to secure their hold on the world.

There is a racist term for that.

#33 | Posted by snoofy at 2018-07-15 07:27 PM | Reply

The stock market is not the economy.
The stock market is not the economy.
The stock market is not the economy.

(beetlejuice beetlejuice beetlejuice)

#34 | Posted by ajwood at 2018-07-15 09:27 PM | Reply

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