Warm Southern Breeze

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Posts Tagged ‘earnings’

Historical Audio: Reagan supported increased wages & labor protection

Posted by Warm Southern Breeze on Friday, April 11, 2014

Seems as if everything old is news again.

Of course, the more things change, the more they remain the same.

GOP Panics As Audio Emerges Proving Their Hero Reagan Would Oppose Current GOP Policies

Author: April 9, 2014 6:49 pm

A 1948 audio recording of Ronald Reagan shows that he would have opposed the GOP’s policies today. In fact, if the GOP actually knew anything about Reagan’s history, they’d wonder how he even ended up in the party to begin with. The right-wing lunatic fringe runs today’s GOP. Back when this recording was made, Ronald Reagan sounded far more like one of today’s liberal Democrats than a Republican. The difference is astonishing.

Ronald Reagan on the 1946 GOP’s plan to increase people’s real incomes:

“The profits of corporations have doubled, while workers’ wages have increased by only one quarter. In other words, profits have gone up four times as much as wages. And the small increase workers did receive was eaten up by rising prices, which also bored into their savings.”

Gee, that sounds an awful lot like what’s happening now. Soaring corporate profits should mean that workers’ wages go up, also. Instead, more people than ever live paycheck to paycheck, and fewer have any savings to speak of, let alone enough to pay six months of living expenses in case of an emergency. But the stock market has reached record highs several times. So everything’s cool, at least as far as the GOP is concerned.

Ronald Reagan on the “free market” and rising prices:

“High prices have not been caused by higher wages, but by bigger and bigger profits. The Republican promises sounded pretty good in 1946. But what has happened since then? Since the 80th Congress took over? Prices have climbed to the highest level in history, although the death of the OPA was supposed to bring prices down through ‘the natural process of free competition.’”

So, even back then, the Republican ideal of the free market didn’t work the way they insisted, and Ronald Reagan could see that. These days, they still want the government to stay out. They want competition to work for lowering prices and creating jobs. However, the so-called “free market” that they want tends toward monopolies and/or price collusion, which both drive prices up. These two situations prevent new businesses from entering the market to compete, and hurt consumers and workers, while driving profits sky-high.

Ronald Reagan on working Americans: Read the rest of this entry »

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