Corporations get ever richer, but Americans on average, do not / by kevin murray

The stock market seemingly hits highs or closes at near new highs, day-by-day, and corporate executives, have never been compensated at such incredibly high levels, as we so see, today, through the gifting of stock options, bonuses, benefits, and the like,.  Additionally, corporate profits for the biggest and brightest of these mega corporations continue to be quite robust, and many of the largest of these multinational corporations have also done a tremendous job of increasing their market share at the expense of lesser players, thereby becoming even more of a global economic force.  One would think that with all this growth in a given company's market share and their corresponding profits that the employees of these multinationals would be receiving at least at a minimum, some sort of "trickle down" effect, but if so, it seems to really be a mere trickle.

 

Further, in order for domestic citizens to benefit directly from the great profits made by these multinationals, they have to be, employees of these multinationals, of which, we read as reported by bea.gov, that the employment abroad by majority-owned foreign affiliates of United States multinational enterprises for 2018 was 14.4 million workers.  That is to say, for whatever reasons, wrong or right, 14.4 million jobs that could, in theory, be accomplished by domestic workers, were instead outsourced to foreign workers, at the direct expense of those domestic workers, and of which, the main beneficiaries of this outsourcing, was clearly those that are in the highest offices of those multinational corporations, and therefore to their monetary benefit.

 

The losers of all this outsourcing is both the government of this country as well as the specific people so impacted by their reduction of employment opportunity, that thereby meant the lost of a good paying job, or having to be forced to take on work at a lower rate with correspondingly lower benefits; of which, therefore the government of this country thereby was placed into the position of the need to expend money as well as to provide resources to step in and to become a safety net for those citizens, which thereby served to reduce the self-sufficiency of those citizens, all because of this outsourcing of viable work, to foreign workers.

 

That is to say, multinational corporations seem primarily to be about accomplishing their goals of increasing market share and profitability by whatever means that are best to do so, and care little or nothing about their duty or obligation to take care of their own people, first, or to see them as any sort of corporate responsibility or priority.  This government, also, seems to have not the stomach to deal forthrightly with these multinationals and either gives them what they so desire, or permits such, or countenances such, for whatever reasons, under the mistaken belief that what is good for multinationals must be good for this country, in whole.

 

The bottom line is that the cost of doing business in this country in many endeavors is going to be more expensive than the cost to do so is in a lot of emerging foreign lands, because we have a vibrant rule of law, environment regulations, labor laws, and the like; of which, if multinationals are provided with carte blanche to do business wherever globally that the business environment is perceived to be cheaper, then the end result is that the few and powerful of America will get ever richer and stronger, whereas the middle class of America will get ever poorer and weaker.