Posts Tagged ‘Germany’


Special mention



Special mention

10-yr_yield_cartoon_04.20.2015_normal_large  Tom Toles Editorial Cartoon - tt_c_c150507.tif


There are a couple of things worth noting from this chart:

1. It’s time for those on the Left to stop taking Germany as the shining example of how things could be better for workers in the United States if only we followed its example. As Eduardo Porter explains,

In Germany — often portrayed as the gold standard of the postindustrial labor market — the entire bottom half of households experienced shrinking earnings from work. They only got ahead because of rising government benefits.

2. The United States does less than any of the other countries on the list to improve the conditions, via net government transfers, of low-wage workers.

We know that real wage increases for most U.S. workers (including those near the bottom) have been meager since the late 1970s and, even with government assistance (such as tax credits, food stamps, and cash assistance), the increase in workers’ standards of living is far behind their productivity, the profits they create for the corporations where they work, or the amount of income captured by those at the very top.


Special mention

162790_600 Tom Toles Editorial Cartoon - tt_c_c150417.tif


Special mention

171171fa15410d2b3e255075833198d8_L 162094_600


Special mention



From today’s New York Times:

Until now, Ireland had been the poster child for German-led austerity policies. Its citizens offered little resistance as their government — grappling with huge debts from the country’s failed banks — introduced new taxes and increased old ones, even while laying off workers and slashing health and welfare benefits.

In recent months, however, the Irish have been anything but quiet. The prospect of paying for water, which many see as yet another new tax at a time when the government has assured them that austerity is over, has prompted a series of mass protests across the country, from Dublin to Cork. Many demonstrators say they have no intention of paying the new fees.