omgwtfbyobbq · 127 points · 46 comments · 9 時間前 · Open original
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ZEzetazzed8 時間前
One major element in this is the rise of earnings from pass-through income. Self-employed or nearly self-employed individuals who would have been counted as employees of their small businesses 30+ years ago increasingly take "profits" from their business rather than "wages," even though they are the same thing. The "profits" get tax advantages. This makes labor share decline despite dentists, consultants, etc. still doing the same amount of work and taking home the same pretax income. See: https://www.ericzwick.com/labshare/labshare.pdf
BLBLKNSLVR9 時間前
This is purely data with no narrative attached, which is sort of refreshing.
The un-answered question is what is now eating up the percentage that was going to wages?
What are the options? R&D, shareholders, lawyers, advertising/marketing/PR, share buy-backs, political lobbying (cough bribery cough), strategic reserves?
ENentrope2 時間前
The fraction is markedly different when one includes compensation in the forms of retirement contributions, insurance and the employer part of payroll taxes: https://fred.stlouisfed.org/series/A4002E1A156NBEA
REresters7 時間前
<scarcasm>Wait till millions of robotaxis hit the streets, the graph will crater!</sarcasm>
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5 preview comments · loading full threadLog in to h4cker, then connect Hacker News to publish comments.
One major element in this is the rise of earnings from pass-through income. Self-employed or nearly self-employed individuals who would have been counted as employees of their small businesses 30+ years ago increasingly take "profits" from their business rather than "wages," even though they are the same thing. The "profits" get tax advantages. This makes labor share decline despite dentists, consultants, etc. still doing the same amount of work and taking home the same pretax income. See: https://www.ericzwick.com/labshare/labshare.pdf
This is purely data with no narrative attached, which is sort of refreshing. The un-answered question is what is now eating up the percentage that was going to wages? What are the options? R&D, shareholders, lawyers, advertising/marketing/PR, share buy-backs, political lobbying (cough bribery cough), strategic reserves?
The fraction is markedly different when one includes compensation in the forms of retirement contributions, insurance and the employer part of payroll taxes: https://fred.stlouisfed.org/series/A4002E1A156NBEA
<scarcasm>Wait till millions of robotaxis hit the streets, the graph will crater!</sarcasm>
Does this include income like RSUs?