Report: Repatriation Tax Holiday a 'Failed' Policy - WSJ.com
'Decent Wages' are what the Greeks wanted and previously got.
Once you move away from the supply and demand forces of an open economy to try and take from some and give to others, problems arise.
The unions may think high benefit, early retirement is an entitled decent wage; but, when you go to the store, do you buy based on price, the quality of the product or how much the workers made?
You know the basic equation for production = labor + capital + raw materials.
It's all well and good to keep increasing the 'labor' component, but the final test is whether the production is profitable (let alone 'break even').
As regulations and unions impact the returns and cost of any and all components, something has to give.
We are in a competitive global economy.
You want to make money on your savings and investment and you want your work to earn enough to cover the cost to the employer of paying you.
If something is distorted - i.e. as the Wall Street protesters feel in that there is money just lying around that could be providing them decent paying jobs, then why aren't some of them going out and creating those jobs?
If they don't want to create the jobs and they don't have a job, then they should ask what forces are inhibiting someone from creating those jobs - and, clearly, the profit motive says entrepreneurs will create jobs at some level of compensation.
If, with the alleged high profits of Wall Street such jobs aren't being created, then the place to look for problems is Washington and Albany.
Why is it that the labor component of production doesn't work to create jobs?
a) If investment returns are too low, why is that (taxes, etc.)?
b) If raw materials costs are too high, then why limit energy drilling - for example; or, why talk about having to pay more for electricity (green power); etc.
c) Or, if regulation and policy make labor too iffy a cost and too high a cost, what can be done about that? Should schools be based on vouchers? Should employee benefits be reduced or made optional? What can be done to reduce the 'gross' cost to the employer? Etc.
The issues are rather obvious; but, unions and Dem's would like to ignore the facts. Most Republicans aren't much better.
So, yes, it might be nice to dream and complain about not having 'decent wages' but to really produce them, one understand where they come from.
The Greeks are learning there's no 'free lunch'. Too bad the Wall Streeters aren't targeting the union halls and liberal politicians and the President. These are the people who support their wishes for good jobs but enact policies that inhibit their creation.
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