The reports tell us that the U.S. Steel Industry has been doing well and making profit long before Trump placed tariffs on imported steel and aluminum. We now read that U.S. Steel and other steel makers are locked in talks concerning a new contract with union steel workers. Under the new offer to the unions, their members would be making 72 cents an hour less than the present contract because of benefits.
Union leaders say that is a non starter and there is a 90% chance of a strike if Steel does not change their attitude. Union leaders pointed out Steel's profits are even greater now with the tariffs in effect and that since 2015 Steel has given its executives pay raises and bonuses that total over $50 million. The union members and workers believe they should share in Steel's increased profits. After all, they are the one who do the hard work.
Its just another example of Corporate America's lack of respect for the workers who make profit possible and their hatred of wage equality. Does any one believe those executives who shared in that $50 million lost any benefits? Nothing has really changed since the 2008 recession when wealth was being transferred from the middle class to the wealthy. Huge tax breaks are never enough for Corporate America, they have to have it all.
Just try and think what would happen to the average steel worker if there were no unions to bargain for their rights.
This commentary written by Joe Lorio
