London Financial District. Off the record interview with international billion-dollar business CEO who expresses the real fear about the Trump movement in the USA. This friendly chat was a lively pre-debate exercise. The global billionaire concern is that the same successful "workers-populist" movement of Brexit is moving across the Atlantic to America with growing Trump supporters. The CEO financier informs that the past decade in America has been extremely friendly to international business by helping move jobs offshore, especially the latest U.S. Presidential Executive Order to raise the minimum exempt salary to $48k per year. This is a windfall gain for the international uber-rich elite, the ardent CEO maintains. It allows even more mid-management American jobs to be offshored to overseas offices giving publicly traded international companies a huge advantage over domestic American-based competition.
International businesses that can offshore mid-management jobs to countries without minimum salary requirements gives multi-billion dollar companies a strong advantage over small and mid-size American companies that don't have the ability to offshore their mid-management jobs. The successful CEO advises that the fear by the global billionaires is a Trump presidency because it changes policies back to protecting American jobs. Like a lot of banking colleagues, this prudent CEO shares that global company peers are following suit by investing millions into the Clinton campaign to ensure more flexibility to operate big businesses offshore with U.S. labor law support.
This is an interesting perspective to consider when discussing the economic future of American small and medium-sized companies and the middle-class jobs they create in America. Currently 7 out of 10 jobs are created by the small and mid-size American based companies. This new $48k legal roadblock undermines the middle-class and joins other Democratic Party policies that only help the progressive uber-rich elites. It's not surprising that nearly 100% of Wall Street bankers have been donating to the Clinton campaign and foundation. Trump is not the global elite advocate.
In spite of the fact that the U.S.A. is amongst the highest income and corporate tax nations, the Democratic Party stubbornly continues to push for higher income tax harming American workers and the middle-class, giving an unfair advantage to publicly traded multi-billion dollar international companies that move American jobs, revenues and profits overseas. Illustrating the current Democratic Party is actually the Party of Global Billionaire Elites not the "working class."
Trump supporters are Americans that passionately believe it is time to take back the power from the billionaire ruling elites that mask themselves in the DP as the party of workers. Ironically, it will take a billionaire who will not be influenced by special interest to unseat the "illuminati-like" power of the global elite. The most exciting factor to consider is the real possibility of changing the plight of America's inner-city minority families. They are all in the DP prison. This institutional reality is the deep-rooted cause of civil unrest across America. The progressive global elite strategy is to keep the American middle-class worker down.
The Democratic Party has become the protector of the limousine liberal, the Trustfarians (Trust-fund babies) and Wall Street financiers by keeping dividend taxes low in favor of the highest level of income and corporate tax designed to continue to push jobs and companies overseas and kill small and medium-size businesses. Publicly traded international businesses have an unfair advantage over American small and medium companies of being able to hire workers at lower wages and move profits overseas.
There needs to be a challenge by the media and by workers and small, medium size businesses to the Democratic Party that purports to care about the middle-class. The "Middle-Class Million Dollar Asset Quest" to be debated is: "By doubling the minimum salary wage for mid-management workers overnight, will it actually create a net benefit to workers or force companies to cut jobs while benefiting billionaire international firms that can afford to offshore jobs and avoid paying U.S. taxes?"
Look at the company names in the Channel or Cayman Islands for a glimpse of the "progressive pirates." The result of stolen booty from the middle-class is already underway, American companies are being forced to cut mid-management jobs. By way of example, my CEO interviewee informs that the new $48k minimum requirement for mid-management caused 20% of their American jobs to be eliminated or converted to a reduced hourly wage without a prospect for future growth for the mid-management workers. They plan to hire all new mid-management jobs in Asia and countries in Europe. Especially with the stronger dollar, mid-management salary jobs are cheaper in Asia, Europe and the UK.
The other significant consideration for the survival of middle-class "American Dream" goals is the question of morale. Dialogue with a successful HR Executive of a leading American company informs that the $48k minimum salary policy implemented by the Democratic Party leadership translates into a dramatic decrease of mid-management jobs, reducing growth opportunities and most troubling-destroying morale. Workers who were exempt and are forced to be hourly feel they have been demoted and lose their self-worth and motivation to advance.
The current U.S. Administration must have considered that the decision to "double" overnight the federal minimum salary to $48k for mid-management employees would result in harming Americans by moving American middle-class jobs overseas and hurting growth opportunities at home for American workers. Logically the majority of small and medium-size American companies cannot afford to double labor costs overnight leading to elimination of jobs because they cannot offshore like the publicly traded multi-billion dollar international corporations. The global billionaires win and the American middle-class workers lose. This is not the American Way. President Kennedy promised "a rising tide lifts all boats" but the "progressive" Democratic Party is actually promoting regressive policies for workers. Sinking jobs is not uplifting.
The Democratic Party is no longer the party of JFK or FDR, "progressive elites" have chosen Wall Street over Main Street to benefit Bankers over Workers. Let the presidential debate begin with a clear focus on American middle-class families, the survival of mid-management and growth opportunities for workers and small, medium size American companies. Voters must decide who will be the President of the people, by the people and for the people. Trumping the billionaire global elite in favor of the middle-class American worker.