The Financial Times reports that "real wages in the US are falling at their fastest rate in 14 years." Because Corporate America is shafting workers, "many Americans will have to work longer hours to keep up with the cost of living" and their loss of income "could ultimately undermine consumer spending and economic growth."
This would be bad enough unto itself. But it gets worse. As my colleagues at the Center for American Progress note, this is all happening while CEO pay skyrockets. It's proof we never really left the Gordon Gecko era, and that, unfortunately, Big Business's motto continues to be "greed is good."
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