Frank and Ernest by Thaves for July 25, 2011
July 24, 2011
July 26, 2011
Transcript:
Frank: "A rising tide that lifts all boats isn't much good when your sail is full of holes!"
Frank: "A rising tide that lifts all boats isn't much good when your sail is full of holes!"
The rising tide analogy assumes that all gains are equal. If the economy improves and a CEO gets a $50M bonus, do I get the same? No.So is it a proportional rise, then? When Wall Street executives double their profits, does my salary increase in kind? No. Even at my own level, in ten years when I’m earning 50% more than what I am now, it’s a safe bet that the laborers who pick my produce won’t get a similar raise, and I highly doubt the minimum wage will increase by that amount.The rise is more of an exponential one. The more you have, the greater the proportion of increase. The poorest do better, but by a minuscule margin compared to the rich.