Wage Growth

Kerby Anderson

by Kerby Anderson: In a recent presidential debate, Senator Bernie Sanders defended his candidacy by proclaiming that he was trying to “give a voice to people who after 45 years of work are not making a nickel more than they did 45 years ago.” It was a powerful statement, but it deserves more scrutiny.

Let’s begin by acknowledging that the graphs of wage growth since 1975 are essentially flat when adjusted for inflation. There’s more to the story though, but let’s concede the point for a moment. Before Donald Trump took office, we had three Democratic presidents and two Republican presidents. If they couldn’t make wages grow, why should we think Bernie Sanders will accomplish what they could not? To borrow from a previous president: What magic wand do you have?

David Harsanyi reminds us in a recent column that politicians who talk about “wage stagnation” fail to take into account “the health care benefits, pensions, vacations, family leave and other perks now embedded in job packages.” If you add those benefits, he says, wages have increased by 45 percent since 1964.

Consider two other issues being debated during this presidential campaign: education and health care. When Bernie Sanders graduated from college, less than six percent of his fellow Americans were enrolled in higher education. Forty-five years ago, that percentage was only around eleven percent. Today, two-thirds (65%) of millennials have at least an associate degree.

David Harsanyi also argues that the heart attack Bernie Sanders suffered last year could have killed a 78-year-old man back in 1975. If not, it would have required dangerous surgery. America’s healthcare system has improved dramatically over the last 45 years, which explains why it is more expensive. It costs more to save more lives.

During this campaign season, we will be hearing lots of campaign slogans and one-liners. It’s worth checking them out.
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Kirby Anderson is an author, lecturer, visiting professor and radio host and contributor on nationally syndicated Point of View and the "Probe" radio programs.

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