The Atlantic Magazine: The Feds Use Migration to Cut Wages
NEIL MUNRO6 Jun 2023121
The federal government uses immigration to suppress Americans’ salaries and wages, according to an article in the Atlantic, which is a very pro-migration and establishment magazine.
The federal policymakers believe that “labor is just another commodity, like wood or oil, and Americans are best off when it is plentiful and cheap,” the June 2 article says.
Author Oren Cass, the founder of the mainstream American Compass think-tank, wrote:
American public policy has largely managed to keep things that way. Over the past 50 years, as both parties supported the entry of millions of unskilled immigrants and the offshoring of entire industries, America’s per capita gross domestic product more than doubled after adjusting for inflation. Productivity of labor rose by a similar amount, and corporate profits per capita nearly tripled. Yet over the same time period, the average inflation-adjusted hourly earnings of the typical worker rose by less than 1 percent.
The massive distortion is revealed by the declining share of new wealth that goes to employees since about 1970.
Amid migration, technological centralization, and outsourcing to China, U.S. employees’ share of new wealth dropped 10 points from 1970 to 2014 — from 51.6 percent to 41.9 percent — according to the Federal Reserve Bank of St. Louis.
https://www.breitbart.com/economy/2023/06/06/the-atlantic-magazine-feds-use-migration-to-cut-wages/
