I am not necessarily in favor of the Verizon workers being on strike, especially since most people are dumping landlines in favor of wireless services. What I object to is that upper management has decided to reward themselves with lavish bonuses and raises, while asking the worker to give up salary and benefits. Verizon has been making a very good profit each quarter, and they could of had another solution to solve this labor issue, but now a day the worker is just being taken to the cleaners. To me this is just one more example of how the balance power is shifting to upper management, when this same group makes bad decisions they still get paid there high salaries.
These are the times we live in, reward the wealthy, and screw the middle class worker. As I have read the raises went to upper management. It was just like Wal-Mart's decision to do away with the profit sharing for associates, of course there the associate could of had taken 6 % out of his wages and Wal-Mart would of matched, but considering most Associates make less than $ 10.00 an hour, and pay a sizeable portion of that for there health benefits, it dosen't leave much leftover for a contribution. In the meantime Wal-Mart just raised the dividend, that mainly went to the Wal-Mart family, and it did it because the dividend tax rate was reduced by those Bush Tax cuts of years ago. Another example of more wealth being concentrated in the hands of the few.
When more and more people share in capitalism, the economy thrives, when only a few it falters, as we have witnessed these past 11 years.
Please do not go back to the eighties and say it worked then, because Reagen did believe in one thing, and that was raising taxes, he did it eleven times during his eight years. He also increased America debt by more than 300 %.
Wow market down 400 points, exciting to watch all of this money get erased from the markets, but Boehner got 98 % of what he wanted, looks like the markets are speaking loud and clear.
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