American Economy A Race To the Bottom

BROOKFIELD, Wis. - Aug. 12, 2020 - PRLog -- Even before the pandemic, America was dealing with serious economic issues.  Democrat Tom Palzewicz, running for the Fifth Congressional District seat, has seen the economic issue from several vantage points and wants to bring fairness and equality to the American dream.

     The stock market has done well for some time, but has the average American benefited from the rise in the market? The system is not designed for the guy on the street as much as it is designed for Wall Street.   Palzewicz describes this as the race to the bottom.

     "We are having a race to the bottom which is a huge problem for the economy," said Palzewicz, a small business owner. "Wages have been so depressed for so long, there is this idea that we need to make goods and services cheaper in order for people to afford them, rather than the other way around.  Henry Ford realized this a long time ago—just pay your people a living wage and they will be able to buy your goods and services.

     "Between 1946 and 1980, wages grew at about a four to five percent annual rate.  The stock market grew between two and three percent.  The  middle class was created.  Since 1980, the stock market has grown five percent and the wages have gone up two to three percent.   The middle class has been decimated."

     Millions of Americans are out of work, but the very wealthy are gaining in economic strength.  Big business is squeezing and crushing little business.  Workers are being left out of the game.

     "People in the Fifth District need to understand that if you make $250 thousand working and your neighbor makes $250 thousand investing, you will get taxed three times higher," said Palzewicz. " How is that fair?  It isn't fair.  But we have been sold a bill of goods that says it is fair.  We get told that the guy that made $250 thousand investing created jobs.  No he didn't."

     Palzewicz believes there needs to be a better scoreboard to measure success.  Money isn't the only barometer of a healthy country.

     "What if the scorecard to billionaires was to employ as many people as possible at higher than a living wage?" Palzewicz asked. "How much better would society be because that is their level of competition?"

     Palzewicz is looking forward to reaching across the aisle and working with Republicans to bring fairness and equality to the American economy.
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