In the waning months of his presidency, President Barack Obama will devote much of his time to pushing for an economy that’s more pro-worker. He has criticized how CEOs and business leaders undermine workers’ economic security.
“Part of the reason issues of CEO compensation are sensitive to folks is not because workers are jealous and they want lifestyles of the rich and famous,” Obama said. “It’s the sense that if, in fact, there are greater competitive pressures out there, how much is everybody willing to give up to meet those competitive pressures as opposed to putting it all on the backs of workers?”
This plan would call for a redesign in how corporations allocate profits. Much of the profits go into CEO salaries and bonuses, company reserve coffers, but they are hardly used to reinvest in the employees. If companies would invest in employee wages and benefits, then productivity and morale would increase.
Refocusing the economic lens on American workers would likely be met with many challenges. Republicans are pro-corporate swine who would pass any legislation to hurt workers if it meant the continuous cash flow from big business.
For more on this story, visit ThinkProgress “President Obama Uses Bully Pulpit To Push Economy That Works For Workers”