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Nor is this a short-lived phenomenon brought about by the Republican tax cut. In 2011, the chief investment officer of JP Morgan Chase calculated that three-quarters of the long-term increase in U.S. companies’ profit margins was due to the declining share going to wages and benefits. A study last year by Simcha Barkai, an economist at the http://isonflagel.wordpress.com University of Chicago’s Stigler Center, found that labor’s share of the national income has dropped by 6.7% since the mid-1980s, while the share of the nation’s income going to business investment in equipment, research, new hires and the like has dropped by 7.2%. Correspondingly, the share of the nation’s income going to shareholders (the lion’s share to the very wealthy, among them the CEOs who are compensated with shares) rose by 13.5%. That shift has put American workers at a double disadvantage, as their wages and the private-sector investment that creates jobs and boosts productivity have both hit the skids. Like slowly simmering frogs, Americans have required some time to grasp just how dire their situation has become. On Labor Day 2018, however, it’s clear that most of them now realize the need to reshuffle the power structure. A Gallup Poll released on Friday showed support for unions at 62%, the highest level in 15 years, with majority backing from every demographic group except Republicans, and even they are evenly split, 45% to 47%.
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One of the victims, Terry Carter, died of his injuries while the other, Cle “Bone” Sloan, suffered serious injuries to his feet and head. Footage of the incident captured by security cameras show Knight’s vehicle pulling up to a drive-in burger stand, with one of the victims approaching https://monseeszoha95.wordpress.com the driver’s side window. Following what appears to be a brief discussion, a struggle then ensues. Knight’s truck is seen going into reverse, throwing the man to the ground. It then moves forward, driving over his legs and slams into the other victim, who was killed. Knight turned himself in to authorities a day after the incident. His attorneys had said he was acting in self-defence and was fleeing armed attackers when he ran over Mr Carter and Mr Sloan. Mr Sloan has denied claims he was carrying a gun during the confrontation. Knight co-founded Death Row Records with the pioneering producer Dr Dre in the 1990s, but later declared bankruptcy and the company was sold at auction for $24m (£16.7m).