Tuesday, December 16, 2014

We can dream, can't we?

From the Daily News:

The hammering of New York’s working and middle classes is reaching emergency proportions.

While the state and city economies are modestly creating jobs, paychecks are stagnating or worse — with all too many New Yorkers facing a diminished standard of living for themselves and their children.

A Wall Street Journal analysis found that average incomes declined over the past decade in wide swaths of the United States — including in the heart of working New York City.

In Brooklyn, the average annual paycheck, when adjusted for inflation, stood at $43,724 in 2004. By 2013, it had shriveled to just $39,959 — a devastating 8.6% drop.

In Queens, the inflation-adjusted average lost 5.7% over those 10 years, falling from $49,050 to $46,238. In Staten Island, the average shrank 5.1%, from $44,189 to $41,917.

Huge forces are at work. Among them are the loss of manufacturing jobs due to globalization and automation, health-care costs that take an ever-bigger bite out of employers’ budgets and the concentration of job growth in low-paying sectors like retail and home health care.

The only solution: robust economic growth.

What’s called for is an aggressive push to roll back the high taxes and onerous regulations that make New York one of the least business-friendly states in the country.

To invest in roads, mass transit and other infrastructure that would create jobs while catalyzing future growth.

To demand far better performance from schools — so they send out graduates prepared for college and careers, especially in science, technology, engineering and math.

And more — much, much more.


Anonymous said...

"The only solution: robust economic growth.

What’s called for is an aggressive push to roll back the high taxes and onerous regulations that make New York one of the least business-friendly states in the country."

Cutting taxes and deregulation doesn't create good-paying jobs. Since the 80s both have occurred on a massive scale in most of the United States and the result has NOT been good-paying jobs for the vast majority of Americans. Wake up already.

Have the last 30 years taught you nothing?

Anonymous said...

what about the commute? More breakdowns, more delays, more crowding! Last week I had 3 nights where my commute took an hour and a half, 2 hours and an hour and 45 minutes due to E train problems!

Richard Stefan said...

To demand far better performance from schools

People will call that racist ----since we need a War on Ebonics, ALL people must be fluent in English before they get a HS diploma....read the NY Times to graduate.

If we really thought about it for a minute what is the only real difference between a failing school and a good one? the good one demands you speak English when you enter the building.....teacher salaries. Ms Phd's, education certificates are all just tinkering with the edges

JQ said...

the proliferation of service jobs(fast food,deliveries,hotels)is a factor.That could change if the minimum wage would go to 15/hour.Actually with the cost of living and what the city thinks is an affordable apt(2000?)it should be 20

Anonymous said...

What's needed in NYC is a better use of the city budget that benefits all more equally, instead of an endless crusade to give it away in special subsidies to the richest for campaign contributions and the poorest for votes.

Middle Villager said...

Anon #3 .......DITTO

Anonymous said...


Right there we'd have a mass exodus out of NYC - might result is higher paying jobs and lower rents via less competition for both!

Anonymous said...

Fixable with one stroke of the pen:

The minimum hourly wage in NY State provided to any employee will hereby be the lesser of the following:

1) $15 in 2014 dollars, inflation-adjusted by annual recalibration to the Bureau of Labor
2) 60% of the employing entity's gross annual revenue divided by the total labor hours worked.

Businesses incorporated in NY state less than 3 years shall be exempt from this provision.

First provision immediately brings the workers in the big franchise and chain stores into the lower middle class, second prevents small businesses from going under. (I'm basing 60% off of my own experience. The comptroller's office can figure out the exact percentage.) Third provision encourages new businesses.

If you can't make it under those provisions, you'd better reexamine your ability to run a business.


Anonymous said...

wait, what kind of nonsense is anon talking about? 60% of gross revenue is supposed to go into labor? who will pay the rent? employees? you got that from your experience? in what business? and why would you try to broad brush that formula into all businesses?

this is the same non-sense we have in the re tax code. A 6 million brooklyn townhouse has taxes equaling 5k while my house in bellerose is paying 5,500. Look it up on Halstead's website. Townhouse is in Bed-Stuy Brooklyn.

Broad brushing laws = bad. always will be.

Anonymous said...

wait, what kind of nonsense is anon talking about? 60% of gross revenue is supposed to go into labor?

The main overhead in most businesses usually is labor, with some notable exceptions like restaurants and anything with expensive materials costs.

Anon #4 said minimum of that or $15/hr. and to "figure out the exact percentage."

I've heard worse ideas.

Anonymous said...

$500 per hour minimum wage will solve every problem.

Anonymous said...

blah blah blah...;lower standard of living...blah blah blah...lower take home pay. SO TIRED OF THE WHINING !!!!

Fact is,....

There is one and only one cause of this disaster of an economy but no one...no one...wants to engage this topic. And if they do,..they are branded a kook.

Ya wanna know why the economy sucks?!?!?!?!??!

ILL TELL YA........

The Federal Reserve emits debt back CREDIT from thin air and the result is a gross malinvestment. Moreover, as we have now reached DEBT SATURATION,...no matter how much credit you emit,,.....there is no corresponding NET BENEFIT TO GDP.

But u all....can keep voting left and right...thinking it will change anything.

IT WONT !!!!!!!!!!!!!!!!!!

Anonymous said...

The real solution is total Surrender to government,get on line,get your food stamps,sec 8, free healthcare and bilingual education, were almost there,as soon as amnesty is finalized
And voting rights are granted america will run as good as every 3rd world country Comrade so get your mind right.you don't have any choose,its over ㊙