For
decades, American corporations have strengthened their hold over the
American worker. CEO compensation has soared while employees have seen
their real wages stagnate or decrease; their once-secure benefits
vanish; their ability to organize unions restricted; their mobility in
pursuit of better lives brought to a halt. Corporate donors have fed the
Republican politicians committed to maintaining that status quo.
The
COVID disaster has shaken the corporate stranglehold, and Democrats in
Congress and the President have pushed hard for change. They passed the
American Rescue Plan—with no GOP votes—to keep the economy afloat while
Americans could slowly recover from the pandemic devastation.
Workers’
comeback has been fast. Under President Biden, the nation has recovered
over six million jobs, the fastest in history. The unemployment rate
is at historic lows, with new claims down to nearly unimaginable totals.
Even better, wages have increased significantly, and workers are now
finding new power to demand health benefits, retirement plans, and
flexibility in scheduling. Remote communication has translated into
increased worker negotiation power and opportunities. Employees now can
dream again about relocating to improve their families’ lives, not being
frozen in a precarious job status.
Price
increases, attributable to supply line distributions, corporate price
gouging, and the overseas war have tempered wage gains. The Federal
Reserve is making moves to cool the economy, and the Biden
administration is acting to bring down the prices of gas and
prescription drugs.
When
prices drop to much lower levels, as they will, strong wage gains and
improved standards of living will remain. There are good reasons to
believe that American workers like their new power and will fight to
keep it. They should think hard about which political party will have
their backs. What does history tell us? Democrats deliver for workers
Publishing hisory:
daily freeman April 10, 2022