#61
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Why hasn't any one pushed for this already? | |||
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#62
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When listening to a proponent of supply side economics like Friedman, really listen, you can see he doesn't throw out demand side economics philosophies like those of Keynes completely. Supply and demand are in equilibrium... if either gets out of whack, prices/economics are dramatically affected. Wealth inequality is the biggest BS, almost as big a red herring as "trickle down economics", which is just a made up term parroted by talking heads. There is nothing wrong with inequality of wealth when the standards of living is getting better. Bezos having a bajillion dollars doesn't affect me if I live a better life than my ancestors. In fact because of those innovators, most of us live better lives. Socialism/communism guarantees equal misery for all. We don't need minimum wage laws; you mentioned salaries are rising EVEN without minimum wage increases... good. That is a natural demand response to a low supply of skilled workers, all without the government messing it up. The education/jobs are there for the picking if people want to work. As long as the government gets out of the way (except in extreme circumstances) economic machine goes whirrrrr. The best way for lower/middle class people to become wealthy is to spend less, invest more, and wait. WAIT is the key part... wealth is built over time, period. Exponential growth requires time to ramp up. https://www.visualcapitalist.com/vis...ge-in-america/ . The reason older people are wealthier is because they have had time to receive compounding returns. Time in the market not timing the market, as the saying goes. Boomers have been in the market longer, thus they are further on the exponential growth curve... just math, that's all. We can't get mad at math; we must follow its lead! The older generation is not robbing the younger generation, they are just older and have been in the market. Every young person should avoid superfluous spending, live below one's means, start investing as early as possible, and always look to reduce costs where possible. The most easily digestible, eye-opening launching point is https://www.mrmoneymustache.com/2012...ly-retirement/ . If all 28 year olds (assuming independent from parents by then) invested 50% of their money in broad-market index funds, they could retire easily at 45. We have a fundamental problem in America with thinking credit is free money... this goes from the liberal arts major with >100k in loans, the government with >30 trillion in debt, and the average household debt >50k. Loan forgiveness, modern monetary theory/inflating the debt away, and credit card payment plans won't solve this problem because it is behavioral. Going into debt is literally stealing from your future self... what kind of short-sighted fool would do this? It is a tough pill to swallow, but pooer people are worse with money and make bad short-term decisions, and wealthier people are better with money and make good long-term decisions. Work hard, save more/invest, and wait. It is the only thing that works or ever will. | |||
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#63
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Women entering the workforce is why wage has stagnated. Inject 50% more supply and demand goes down, simple stuff.
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#64
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#65
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Find a woman and marry her and make her go to work. Or get a real job, gain some skills and quit complaining about being a worthless dredge. You get in what you put in.
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#66
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State and income year over year vs minimum wage one.png Lets just say YOU don't want to work from home for these below states at minimum wage if you live in the above states. two.png SO yes minimum wage MORE OVER BY MULTIPLE EXAMPLES does play a factor. Quote:
Poor billionaires: 430 people fell off the list of the world’s richest Quote:
And if you live in one of the richest countries with one of the lower populations of the world then there is no excuse, no one should go starving or have a lack of an education due to money problems. Tax the rich and make them pay their fair share! | |||||
Last edited by Botten; 11-22-2021 at 12:30 PM..
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#67
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Cool on the other assumptions, though, I am sure that since we get what we put in those laborers in foreign countries who make our electronics will surely get a raise any day now, and if they do not, they can just go out and Get a Better Job | |||
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#68
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#69
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Last edited by Jibartik; 11-22-2021 at 01:22 PM..
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