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the distance from poverty to money is not far. it can happen fast. most people are are 2 paychecks away from being on the street. the killing event is often loss of job then loss of insurance followed by a serious illness with crushing medical costs billed at many times the insured rate.
Innovation is derived from risk taking. If one wants a sure thing, innovation dies.
When are we going to get back to that model of "risk taking" since all the Major Corporations and Banks are in bed with the Government and pay off politicians to tailor the market to their desires that the small business can't compete with?
And then when it does not pan out, they get a bail out or pay no taxes?
the distance from poverty to money is not far. it can happen fast. most people are are 2 paychecks away from being on the street. the killing event is often loss of job then loss of insurance followed by a serious illness with crushing medical costs billed at many times the insured rate.
Compared to other countries US citizens do not save.
We used to though. Back in the 70's it was 12-15%.
Today it's barely over 2%.
The US is near the bottom when compared to other countries.
About 5% of Americans earn only the minimum, and most of them are teen agers. To them my advice is to pick up the pace, so they can earn more.
At least 48% of minimum wage earners are at least 25 years old, and that percentage appears to increase over time especially every time the minimum wage goes up.
Many dead-end jobs have no realistic promotion path and no raises, I've had a couple of those.
Very good point. And from what I see, the middle class is vanishing.
Scary to think we could one day be a nation of haves and have-nots.
The middle class is not vanishing. The global middle class is increasing and with that the American middle class is moving towards the real middle. It equates to about $8000/year per capita although that's GDP, there's no correlation to that in terms of wages.
I've been saying it for over two years now. The universal equality is coming to a theater near you and it's not going to be a picture you'll like or want to ever see again. I'd be surprised if "the West" will willingly give up their self imposed place on the podium.
About 5% of Americans earn only the minimum, and most of them are teen agers. To them my advice is to pick up the pace, so they can earn more.
And you do realize, to get out of poverty you need to make about 1.5-2X minimum wage. And most low wage workers do not work full time hours. Even with multiple jobs.
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