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Today, I read an article on whether or not more access to higher education would fix income inequality. A few days ago, I read an article about how minorities suffer from income inequalities. There is a lot of talk floating around, with a lot of ideas.
Fundamentally, it's all talking about how much money the "rich" have compared to the poor. Considering it's an interest game, it seems impossible to catch up. Like how they say it's more important to contribute to your 401k in your 20's because of how compounding interest works. So it seems like people who say, bought $40 coke stock in 1919 would always be significantly richer than those who buy is roughly 100 years later for $40.
Just wondering if anyone sees income inequality as something that can be fixed? And what does "fixed" mean to you?
It's a very complex issue. I believe in the free market. Education and the acquiring of skills that the world wants and needs is a viable way become wealthier. One must also have the discipline to save and one must not be "unlucky." There are safety nets in place for the unlucky ones. Some would argue not enough of a safety net.
Then there's the story of the multi-millionaire janitor who invested his money. I doubt he was highly educated in the formal sense, but he did ok.
Because your definition of being fixed means everyone is "tied" again, why do you want to start it off that way?
Fix to me means more people gets a chance to get on the investment ladder. Who care's who is ahead of you? If anything, you can watch who falls off the ladder and then not take that rung and go around them. The rich aren't making money by sitting on it, just watch what they do and learn/copy it and you'd get money too. You only have to compete with yourself, and in this case, are you better off than you were 10 years ago, 20 years?
This has nothing to do with education either, people have a mental attitude of spend first, gripe second about how they couldn't afford it and worry about the bill last.
Today, I read an article on whether or not more access to higher education would fix income inequality. A few days ago, I read an article about how minorities suffer from income inequalities. There is a lot of talk floating around, with a lot of ideas.
Fundamentally, it's all talking about how much money the "rich" have compared to the poor. Considering it's an interest game, it seems impossible to catch up. Like how they say it's more important to contribute to your 401k in your 20's because of how compounding interest works. So it seems like people who say, bought $40 coke stock in 1919 would always be significantly richer than those who buy is roughly 100 years later for $40.
Just wondering if anyone sees income inequality as something that can be fixed? And what does "fixed" mean to you?
Easiest way ever?
Tighten up on illegal immigration. As in tell every business owner in America that the hiring of illegals will no longer be winked at. Then raid a few hundred businesses and make examples of the owners. Oh, sure, make an accommodation for the seasonal demands of agriculture. But hotels, restaurants, factories, and the rest? Not a chance.
Why? Because the law of supply and demand applies to labor. And when you have a flood of illegals coming into the labor pool, it automatically means that the price of entry-level and unskilled labor goes down.
I mean, I remember in the middle part of the last decade before the crash. In my city, unemployment was the country's second lowest, only a tenth of a point behind Orlando's. So wages rose dramatically due to labor scarcity. You had McDonalds advertising for help starting at $12/hour. The convenience store in my neighborhood was advertising for counter help for $28K a year plus benefits.
Best of all, you don't even need new legislation to do it. Just enforce the existing laws and punish businesses who thumb their noses at it. Excess labor leaves the market, making it possible for those people who played by the rules to earn a living wage.
Just wondering if anyone sees income inequality as something that can be fixed? And what does "fixed" mean to you?
Certainly. The root cause of low-middle class incomes and opportunities going flat and then negative over the last 40 years has been globalization specifically with high trade deficits via an inflated US$, and the government policies that supported this. This is also the cause of the top 0.1% realizing a >300% real income increase over this period.
The hard part will be first educating the public of the cause, and then changing the policies... when the popular media is so good at keeping the public confused and divided.
Tighten up on illegal immigration. As in tell every business owner in America that the hiring of illegals will no longer be winked at. Then raid a few hundred businesses and make examples of the owners. Oh, sure, make an accommodation for the seasonal demands of agriculture. But hotels, restaurants, factories, and the rest? Not a chance.
Why? Because the law of supply and demand applies to labor. And when you have a flood of illegals coming into the labor pool, it automatically means that the price of entry-level and unskilled labor goes down.
I mean, I remember in the middle part of the last decade before the crash. In my city, unemployment was the country's second lowest, only a tenth of a point behind Orlando's. So wages rose dramatically due to labor scarcity. You had McDonalds advertising for help starting at $12/hour. The convenience store in my neighborhood was advertising for counter help for $28K a year plus benefits.
Best of all, you don't even need new legislation to do it. Just enforce the existing laws and punish businesses who thumb their noses at it. Excess labor leaves the market, making it possible for those people who played by the rules to earn a living wage.
This would be useful and make the lives of many residents better. But, does 50% of the current residents making ~30k per year make the middle class wealthier over all? Or are there just more people making middle class incomes?
Tighten up on illegal immigration. As in tell every business owner in America that the hiring of illegals will no longer be winked at. Then raid a few hundred businesses and make examples of the owners. Oh, sure, make an accommodation for the seasonal demands of agriculture. But hotels, restaurants, factories, and the rest? Not a chance.
Why? Because the law of supply and demand applies to labor. And when you have a flood of illegals coming into the labor pool, it automatically means that the price of entry-level and unskilled labor goes down.
I mean, I remember in the middle part of the last decade before the crash. In my city, unemployment was the country's second lowest, only a tenth of a point behind Orlando's. So wages rose dramatically due to labor scarcity. You had McDonalds advertising for help starting at $12/hour. The convenience store in my neighborhood was advertising for counter help for $28K a year plus benefits.
Best of all, you don't even need new legislation to do it. Just enforce the existing laws and punish businesses who thumb their noses at it. Excess labor leaves the market, making it possible for those people who played by the rules to earn a living wage.
No complaints about tightening up the laws, just for a different reason than you. I don't think those jobs are going to be replaced, Those jobs you mentioned were "physical, or labor" jobs. I'm not entirely sure the average americans would be happy working jobs where they can't sit down most of the day or be where there's A/C. I know there's the exceptions, but those already have better jobs as well. I'm talking about the construction, oil, trade jobs. The "dirty" jobs that pay better are where folks who like that kind of work are flocking to.
Can you see the average joe with his diabetic needs working at a job where he is moving around out in the heat? He might not have diabetes if he moved in the first place :S
Just wondering if anyone sees income inequality as something that can be fixed? And what does "fixed" mean to you?
"Income inequality" has become a buzz phrase.
The real question: is there anything wrong with some people having more money than other people?
Someone goes to college. They will most likely earn more money than a person without a dress. Is that wrong?
A person writes a book and sells 5 million copies. Is it wrong for that writer to be a millionaire while the person running the printing press is making $10 an hour?
Someone comes up with the idea for the Snuggly. They make millions while the non-inventor takes home a $35k salary from their day job? Is that wrong?
Could it be that in the world we live in, there will always be inequality for a myriad of legitimate reasons and that there could be nothing wrong with that?
Those willing to take risk, put in hard work, harness pop culture, and/or be innovators will always make more money than those not willing to do the same.
I'm not rich but there is nothing wrong with my salary that is above the national average. That is income inequality and yet that is perfectly okay.
I'm not entirely sure the average americans would be happy working jobs where they can't sit down most of the day or be where there's A/C.
Plenty of guys would love a "dirty" job if the pay was good... like it was 40 years ago. The propaganda stating that "Americans won't do these jobs, so we need illegals" is nonsense. They won't do them for less than minimum wage like the illegals do.
We've lost the typical jobs for guys with low talent and skill via offshoring and escalating illegal immigration. They used to be able to make decent money but no more. As nasty as the labor unions were in this country, we were better off when they were strong enough to influence the job market.
Plenty of guys would love a "dirty" job if the pay was good... like it was 40 years ago. The propaganda stating that "Americans won't do these jobs, so we need illegals" is nonsense. They won't do them for less than minimum wage like the illegals do.
We've lost the typical jobs for guys with low talent and skill via offshoring and escalating illegal immigration. They used to be able to make decent money but no more. As nasty as the labor unions were in this country, we were better off when they were strong enough to influence the job market.
I didn't say that there weren't any, I'm saying that the ones that want to work like that already have options open to them and those jobs aren't all filled yet either. If you meant "car workers" that doesn't really mean much either, picking one group of workers doesn't represent everyone. What jobs paid well 40 years ago? We have jobs today that pay just as well.
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