Did any of ya'll see this report in the Business Insider? The story goes on to say "So if you feel like your working harder for less money than your parents' or grandparents' generations, that's because you are."


I did not read the Rand report itself, but only this article on Business Insider. What do ya'll think? Article below....

https://www.businessinsider.com/wea...lion-working-americans-what-means-2020-9

That's been well established for quite awhile.

Have to factor in that after WWII most of the world's factories and infrastructure was bombed out except in North America. This allowed us to race ahead. Since the late 70s and 80s we have been losing ground as the world Reba lances. These means a more competitive market which leads to lower domestic wages.

Burdensome tax rates on the top 1% would likely be counterproductive. Wealthy people often have options as to which years they will report income. Some of them invest in tax-free bonds to avoid taxes. That's not all bad considering that tax-free bonds were invented to help entities like schools get lower interest rates. Ironically many cities now issue tax-free bonds to attract stores, factories, etc.

I have one thing to say BULL-CRAP.

The problem is that the middle class has in most cases just given away the money to the richest of the rich voluntarily. They do it through interest mostly, buying dang near everything on credit these days, and the fact that both parents must work to make ends meet. In 1975 I'll bet it was less than 25% of families had two incomes, but today, it's nearly 100%. Guess what, you're not better off with two incomes, you just have more stuff and are making less money per person. This is why the middle class is disappearing. The poor are always going to be there because for the most part they aren't willing to do what it takes to get out of poverty, especially when they can live off the government at just above poverty level. As long as we give hand-outs instead of hand-ups, there will always be a huge load of people willing to sit back and just get by with what they can get for free. The ultra rich 1% is more than willing to take advantage of the situation that people want stuff now and are willing to donate a lot of their paycheck in interest to get what they want now instead of working for it over time. When was the last time you heard the term "Starter house" and can you imagine what a new car would cost if you couldn't borrow money to buy one? Think about that. People give hundreds of thousands of dollars to colleges that don't really help them get ahead and then pay for it for years and years. It's crazy. People need to stop blaming the rich, and stop blaming how much the rich are taxed, and make better choices for themselves.

What a raging piece of Democrat propaganda. !

These guys really want you to believe that the ordinary American would be better off if taxes were HIGHER ??
What "stock market deregulation" are they talking about ? I have been in the market since 1961 and it has become more and more strewn with government regulation . Not less.

They make multiple generalized statements and NEVER provide one scintilla of empirical data to back it up.

The word "redistribution" implies that money was confiscated from the lower earners and given to higher earners. Exactly the opposite is the case.

These are the people you are wasting your time reading.

Something tells me you might disagree with the things they are REALLY pushing.

David Goldstein:............. http://www.civicaction.com/

Nick Hanauer; ....... https://nickhanauer.com/activism/


EDIT: and this is the outfit that paid Rand to do the "study" which was NOT based on empiical data but on hypothetical constructs.

https://www.workingwa.org/for-media...-washington-announce-strategic-alignment

Those guys are certainly not folks that I would agree with. Thanks for linking the names White17.

I'm trying to self educate on economics, stocks, bonds, etc. and came across this article and wanted to know what ya'll thought about it. I really don't know much about the market, but am trying to learn.

I know that I am certainly better of financially than my parents and grandparents. I don't work near as hard as my mom or grandparents, and I make a lot more money than they did.

Same here ! My dad worked for Shell oil as a trucker for 37 years. In his highest paid year..just before he retired in 1962....was $5200. I made more than that my first year out of high school. Again...1962.

I'll suggest that you try reading Barron's. It is subscription based and not cheap but I think you can get some real reasonable trial subscriptions

I am still saving up to be poor.

All I hear is our dollar is weakening and cost of living keeps going up while wages have been stagnant for quite some time now.

Quite unlikely that taxing high income persons more or corporations will change the wealth pyramid much if at all. I feel Bernie is really onto something that we have all not paid much or any attention to. In the past much of the wealth was created by manufacturing, farming, logging, mining etc. This type of wealth creation created a lot of employment and also utilized a lot of resources to make products which creates jobs and wealth too. Today we make a lot of money with just interest and shuffling monies that creates wealth but really does not make a lot of product or nearly the percentage as in the past. We have lost what Henry Ford realized early in his business life, I need to produce a car that my workers can afford to buy. Many on here really are hard on unions and union workers but companies were profitable when unions were stronger and wages as a portion of the GDP were percentage wise higher as well.

Bryce

I certainly don't think that taxing the high income individuals at a higher rate is the correct thing to do. I think everyone, poor and rich, should pay the exact same percent of taxes; especially if the government is going to continue to base it off income.

However, I do think that this country would be a lot better off from the bottom up if we had many, many, more millionaires and even more 500K-750K folks. A handful of multi-billionaires is not good in my opinion.

Some people hoard all kinds of stuff,some hoard money.

When LL speaks, it's like opening up a fortune cookie, and reading a goodin'

The Liberals hate Capitalism. So tell the world the rich are to blame for your financial woes. The harder one works the more you get ahead. It not easy. That is why it is called work.

IF there is a problem of people not being able to earn enough (when has it been easy easy to be upper middle class or wealthy if not born into it) IMO the answer is bring back manufacturing. Textile and steel and leather tanning would be a good start. Lets make fenders for ford pickups again and alternators for John Deere tractors. Lets end subsidized housing, and government backed student loans. landlords and college professors will earn less but they will still earn. If the goal is a robust economy manufacturing our own stuff and free markets are the key. All this socialism is doing what socialism does. Retard growth and limit profit.

Blame this. Blame that.

The goal of too many people in this country is equal outcome. The goal has been and still should be equal opportunity.

Big difference.

Once again!

You've got to cry without weeping
Talk without speaking
Scream without raising your voice

Bono

Someone that I totally disagree with as far as "politics" go, but such a poignant statement!

2nd

Satire comes to mind!