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Old Yesterday, 02:02 PM
 
79,542 posts, read 33,688,908 times
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Quote:
Originally Posted by t206 View Post
People get paid based on the value they add to the business. So if they are worth $5/hr due to their skills, thats what they would be paid.
If that was true, the CEO in my earlier example at Boeing would be on a bread line. He's cost the company billions but still being paid millions.
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Old Yesterday, 02:02 PM
 
16,823 posts, read 9,133,770 times
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Quote:
Originally Posted by PCALMike View Post
Any factor that is also an investment, which housing clearly is, is obviously not included in inflation numbers.
69% of households in NYC are renting. Renting is not an investment.

Your premise was 100% BS no matter how you twist it.


NYC's high cost of living means that the majority of people there are NOT investing in real estate. Period. The high cost of living prices them out of it.


Even if you do buy a home in a high cost of living area it still factors into cost of living. Because if you don't pay your mortgage and/or taxes your home gets repossessed. It costs more to buy a home in San Francisco than it does to buy an equivalent home in Bismarck, North Dakota. That is cost of living.

A 100K salary in Bismarck North Dakota will in fact buy you the same standard of living as $195K in San Francisco per CNN and they didn't even include the lower taxes, which would put Bismarck over the top in that scenario.


Finally, they typically don't factor housing into inflation numbers because (A) it can swing radically up and down see 2008 and such it is such a large part of people's COST OF LIVING it would distort inflation for those of us with FIXED mortgages (B) most people have set housing and aren't often swapping in and out of housing frequently, especially with fixed rate mortgages.


Get this through your thick skull. The funny thing is that your party even agrees with me on this that housing is a cost of living.
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Old Yesterday, 02:07 PM
 
12,889 posts, read 4,657,792 times
Reputation: 5230
Quote:
Originally Posted by michiganmoon View Post
69% of households in NYC are renting. Renting is not an investment.

Your premise was 100% BS no matter how you twist it.


NYC's high cost of living means that the majority of people there are NOT investing in real estate. Period. The high cost of living prices them out of it.


Even if you do buy a home in a high cost of living area it still factors into cost of living. Because if you don't pay your mortgage and/or taxes your home gets repossessed. It costs more to buy a home in San Francisco than it does to buy an equivalent home in Bismarck, North Dakota. That is cost of living.

A 100K salary in Bismarck North Dakota will in fact buy you the same standard of living as $195K in San Francisco per CNN and they didn't even include the lower taxes, which would put Bismarck over the top in that scenario.


Finally, they typically don't factor housing into inflation numbers because (A) it can swing radically up and down see 2008 and such it is such a large part of people's COST OF LIVING it would distort inflation for those of us with FIXED mortgages (B) most people have set housing and aren't often swapping in and out of housing frequently, especially with fixed rate mortgages.


Get this through your thick skull. The funny thing is that your party even agrees with me on this that housing is a cost of living.
First of all, I am not a Democrat.

Second of all, people who work in NYC dont necessarily live there. Working in NYC getting NYC wages doesnt preclude people from investing in real estate. No investment is factored into inflation statistics, thats why housing isnt included. Stocks arent included either. Paying a mortgage in San Francisco is paying for an investment, its not a cost.
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Old Yesterday, 02:10 PM
 
Location: Richmond,VA
3,230 posts, read 2,089,658 times
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Those currently making $15/Hr will demand their wages get increased to $20/Hr. And those at the $20/Hr rate will have to be increased to $25/Hr and so on and so forth. Hey eventually this will work up to ME getting an increase. Yay!!!
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Old Yesterday, 02:13 PM
 
12,889 posts, read 4,657,792 times
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Quote:
Originally Posted by ZUMAN View Post
Those currently making $15/Hr will demand their wages get increased to $20/Hr. And those at the $20/Hr rate will have to be increased to $25/Hr and so on and so forth. Hey eventually this will work up to ME getting an increase. Yay!!!
Yes, thats what a rising tide actually looks like. Your leverage as a worker actually increases when people at the bottom increases their own leverage. Of course, CEOs know this, thats why they fight tooth and nail against any signs of labor organization as it affects the entire labor market.
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Old Yesterday, 02:15 PM
Status: "\_(ツ)_/" (set 22 days ago)
 
11,393 posts, read 5,972,002 times
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Quote:
Originally Posted by pknopp View Post
If that was true, the CEO in my earlier example at Boeing would be on a bread line. He's cost the company billions but still being paid millions.
Yes, go ahead and pretend one extreme example breaks the model of the vast majority of examples. Nothing is 100% you know that.
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Old Yesterday, 02:19 PM
 
79,542 posts, read 33,688,908 times
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Quote:
Originally Posted by t206 View Post
Yes, go ahead and pretend one extreme example breaks the model of the vast majority of examples. Nothing is 100% you know that.
How many examples do you require? How many argue "I witnessed this at the grocery store" and state one example to back up their positions?
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Old Yesterday, 02:22 PM
Status: "\_(ツ)_/" (set 22 days ago)
 
11,393 posts, read 5,972,002 times
Reputation: 3601
Quote:
Originally Posted by pknopp View Post
How many examples do you require? How many argue "I witnessed this at the grocery store" and state one example to back up their positions?
A sample size of one (or even 1%) is pretty much never valid. I don't care what others state, I called you out on this poor example. Stay on topic.
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Old Yesterday, 02:24 PM
 
79,542 posts, read 33,688,908 times
Reputation: 15940
Quote:
Originally Posted by t206 View Post
A sample size of one (or even 1%) is pretty much never valid. I don't care what others state, I called you out on this poor example. Stay on topic.
How many examples do you require?

I was addressing a point.
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Old Yesterday, 02:24 PM
 
16,823 posts, read 9,133,770 times
Reputation: 6815
Quote:
Originally Posted by PCALMike View Post
Its silly to to include housing in cost of living when that all depends on whether you have bought or not.
It is asinine to not count housing in cost of living, because it is one of the biggest expenses that people have.

The Actual Definition of "cost of living" agrees with me:

Quote:
The cost of living is the amount of money needed to sustain a certain standard of living by affording basic expenses such as housing, food, taxes, and healthcare. The cost of living is often used to compare how expensive it is to live in one city versus another. The cost of living is tied to wages. If expenses are higher in a city, such as New York, for example, salary levels must be higher so that people can afford to live in that city.
https://www.investopedia.com/terms/c/cost-of-living.asp


The typical American spends more on housing than anything else - 37%!!! How is 37% of your budget for a roof over your head not a cost of living? Unless you live in mama's basement it is a cost of living and some cities cost more or less in this regard.

Quote:
The biggest chunk of the average American's budget goes toward housing, which accounts for about 37% of take-home pay. Many people spend even more.
https://www.businessinsider.com/how-...e-money-2017-8


Quote:
Democrats will also combat the affordable housing crisis and skyrocketing rents in many parts of the country, which is leading too many families and workers to be pushed out of communities where they work... Not only will this help address the affordable housing crisis, it will also create millions of good-paying jobs in the process.
The Official Democratic Party platform certainly believes that some cities have skyrocketing rents and expensive homes that is hurting people severely - because housing is by definition a cost of living.

The Democrats go on and on about creating more homes, and cheaper homes, and better mortgages. And not doing so hurts financially people - because housing is a cost of living - get it through your thick skull.


Your whole point of someone commuting an hour for cheaper housing is why I am right! They commute to LOWER THEIR COST OF LIVING. In spite of more gas costs and car repair costs and needing new tires and oil changes sooner...they save on housing!

https://democrats.org/about/party-pl...rdable-housing
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