One of the fundamental challenges of our time is the decline in real wages of American workers.
Today, the actual buying power of the average worker is below where it stood forty years ago. And during the recovery from the Great Recession, the richest one percent in the United States captured 91 percent of income gains.
The dangerous and growing income gap has cost the average worker to not only have lower purchasing power, but also a decreased ability to save for a home, their child’s college, and even their own retirement — robbing workers of economic security and prosperity.
I believe the foundation for rebuilding America’s middle class is laid by making working men and women the keystone of any initiative to move our country forward.
Here’s why #ImWithHer:
When I ran for governor of Pennsylvania, I highlighted how profit sharing was a win for both workers and businesses. In addition to paying good wages, my former company shares 20 to 30 percent of its profits with the employees who help make the business successful.
In 2013, the 260 workers received a combined $1.26 million in profit sharing. For most employees who had worked at the company longer than one year, the average profit-sharing check was $5,000.
Profit sharing allowed employees to put more money away for college, for a home, for retirement, for a new motorcycle, or for a family vacation.
We did it because it was the right thing to do for workers. But profit sharing was also good for my company’s bottom line. Employees were basically co-owners of the company without the risk. As a result, our productivity was not only strong, but people enjoyed coming to work, were innovative in doing the work, and our turnover rate was low.
The American people deserve a real discussion about wage stagnation and income inequality in the presidential election. And Hillary Clinton will help tackle income inequality head on with an economic proposal that creates incentives for businesses to share profits with workers.
The American worker is the most skilled, productive worker in the world and they deserve to share in the prosperity of the richest, most powerful nation on earth. I know profit sharing works from my own business experience and I think it’s long past time we work together on the national level to encourage more companies do the same.
So, if we want a future of shared prosperity, where all families have a fair shot at the American dream, then we have to elect Hillary Clinton as our next President.