Quote: @BigAl99 said:
I retired yesterday, just shy of 50 years in the workforce
Congrats!
What are you gonna do with your time?
Seems like some unnecessary pessimism re: recent American economic life, imo.
Just a few months ago, NPR opined:
https://www.npr.org/sections/coronavirus-live-updates/2020/09/15/913131697/american-incomes-were-rising-until-the-pandemic-hit
"Household income in the United States rose sharply last year while poverty declined — fruits of a record-long period of economic growth that ended abruptly when the coronavirus pandemic struck.
An annual report from the Census Bureau shows median household income jumped 6.8% in 2019, to $68,700. That's the highest since the government started keeping track in 1967.
The poverty rate declined to 10.5% — the lowest since records began in 1959.
Even with that caveat, the report provides a frozen-in-amber snapshot of how a long period of job growth and low unemployment padded the pocketbooks of American families.
With rising wages and more people working last year, median household income rose for every racial group and every part of the country."
I'm optimistic for both my college-aged chirrun, even with the wrong party currently in power. B)
Keep the kids off my lawn.
Changed my LinkedIn profile to a cyrcadian rhythm performer.
Quote: @Mike Olson said:
U.S. billionaire wealth in 2010: $1.5 trillion
U.S. billionaire wealth in 2020: $3.9 trillion
Federal minimum wage in 2010: $7.25
Federal minimum wage in 2020: $7.25
But all that money billionaires made is entirely invested in the stock market. A HUGE chunk is tied up in untradeable shares of companies like Amazon/Tesla/Google/Apple etc. You did the same return in your 401k. Heck you could say billionaires actually under preformed the stock market. So while I get it wages haven't kept up. They have gone up a lot more then minimum wage has.
S&P500 12/31/2010 = 1,320.28 S&P500 12/31/2020 = 3,756.07
+184%
U.S. billionaire wealth in 2010: $1.5 trillion
U.S. billionaire wealth in 2020: $3.9 trillion
+160%
According to Social Security average wage was:
2010 = 41,673.832019 = 54,099.99
+29%
Edit add on:
CPI:
CPI in 2010 218.056 CPI in 2021 260.474
+19.45%
So while CPI isn't perfect by any means that data would suggest that peoples wages have been out pacing cost of living.
Quote: @Viking1987 said:
a huge portion of this country is just lazy and want s more for less work
This isn't helpful. I am after a happier, healthier conversation between political factions. While your opinion might be true of some people out there, the vast majority of us are just trying to make enough to turn the lights on and keep food on the table.
Truth be told, minimum wage should have climbed with CPI. Had it done so we wouldn't have a $7.25 to $15 increase staring us down the barrel of the gun.
Quote: @AGRforever said:
@ Viking1987 said:
a huge portion of this country is just lazy and want s more for less work
This isn't helpful. I am after a happier, healthier conversation between political factions. While your opinion might be true of some people out there, the vast majority of us are just trying to make enough to turn the lights on and keep food on the table.
Truth be told, minimum wage should have climbed with CPI. Had it done so we wouldn't have a $7.25 to $15 increase staring us down the barrel of the gun.
While I agree its to low, I think 15 is to high and if we are going to tie it to economic conditions do we then lower it in years of recession? Honestly it should be established by local job market conditions and that works. Here in SD it's over 9 an hour but most unskilled jobs start around 12 an hour, still not a great wage, but again its not requiring much more than showing up.
Quote: @JimmyinSD said:
@ AGRforever said:
@ Viking1987 said:
a huge portion of this country is just lazy and want s more for less work
This isn't helpful. I am after a happier, healthier conversation between political factions. While your opinion might be true of some people out there, the vast majority of us are just trying to make enough to turn the lights on and keep food on the table.
Truth be told, minimum wage should have climbed with CPI. Had it done so we wouldn't have a $7.25 to $15 increase staring us down the barrel of the gun.
While I agree its to low, I think 15 is to high and if we are going to tie it to economic conditions do we then lower it in years of recession? Honestly it should be established by local job market conditions and that works. Here in SD it's over 9 an hour but most unskilled jobs start around 12 an hour, still not a great wage, but again its not requiring much more than showing up.
I agree with what youre saying. Again I dont know the answers. Like SD I dont see jobs paying the minimum much in TN. I’m sure theyre out there but for the most part if they pay that low the employer isnt getting much more then a warm body.
Local conditions should be a factor. Like I said earlier, I think someone in the middle of AK vs NY City probably dont deserve the same minimum because the two costs of living are dramatically different.
I wonder to what extent this will punish the rural areas for not voting a certain way? Rural areas have lower costs of living yet are going to be held to the same standard as inner city blue areas.
Quote: @JimmyinSD said:
@ AGRforever said:
@ Viking1987 said:
a huge portion of this country is just lazy and want s more for less work
This isn't helpful. I am after a happier, healthier conversation between political factions. While your opinion might be true of some people out there, the vast majority of us are just trying to make enough to turn the lights on and keep food on the table.
Truth be told, minimum wage should have climbed with CPI. Had it done so we wouldn't have a $7.25 to $15 increase staring us down the barrel of the gun.
While I agree its to low, I think 15 is to high and if we are going to tie it to economic conditions do we then lower it in years of recession? Honestly it should be established by local job market conditions and that works. Here in SD it's over 9 an hour but most unskilled jobs start around 12 an hour, still not a great wage, but again its not requiring much more than showing up.
But is it enough for a single mother to afford safe housing, daycare and a path forward, or should she stay on “welfare”. If we really valued the land of opportunity, we need to invest in it. Should we raise taxes in times of prosperity so we can use the surplus in times of recession and lower taxes then?
Quote: @BigAl99 said:
@ JimmyinSD said:
@ AGRforever said:
@ Viking1987 said:
a huge portion of this country is just lazy and want s more for less work
This isn't helpful. I am after a happier, healthier conversation between political factions. While your opinion might be true of some people out there, the vast majority of us are just trying to make enough to turn the lights on and keep food on the table.
Truth be told, minimum wage should have climbed with CPI. Had it done so we wouldn't have a $7.25 to $15 increase staring us down the barrel of the gun.
While I agree its to low, I think 15 is to high and if we are going to tie it to economic conditions do we then lower it in years of recession? Honestly it should be established by local job market conditions and that works. Here in SD it's over 9 an hour but most unskilled jobs start around 12 an hour, still not a great wage, but again its not requiring much more than showing up.
But is it enough for a single mother to afford safe housing, daycare and a path forward, or should she stay on “welfare”. If we really valued the land of opportunity, we need to invest in it. Should we raise taxes in times of prosperity so we can use the surplus in times of recession and lower taxes then?
You are suggesting a tax on her employer to pay her more than she's worth so basically she will still be on welfare, only difference is this wont be coming from your pocket. And when that diner goes under thats shed washing dishes at...then what? I'm seeing more and more chains going to ordering apps and kiosks to replace those jobs. Its just a matter of time when we have eliminated many of the jobs that these unskilled people occupy, then what? Govt mandates that we have to hire them for jobs they aren't qualified for?
Hey I pay a 20% service tax every time I go in to a restaurant. I like eating in Europe where your meal price is on the menu, rounding up, saying "for you" and it is really appreciated. Funny how the food prices are really reasonable, unless you go to a place that caters to Americans.
|
