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How much more would my cellphone and a thousand other things cost if it were made here?
Man, it doesn't even matter! Why are you still hung up on this?
The CPI adjusted compensation graph relative to GDP/capita tells you everything you need to know. It tells us that median compensation relative to the cost of products and services has been flat for 40 years. Like I've already told you a half dozen times, it's already corrected for the cost of goods!
Man, it doesn't even matter! Why are you still hung up on this?
The CPI adjusted compensation graph relative to GDP/capita tells you everything you need to know. It tells us that median compensation relative to the cost of products and services has been flat for 40 years. Like I've already told you a half dozen times, it's already corrected for the cost of goods!
I understand that. The middle class industrial based workers have languished. I agree and IMO one of our major problems today.
But even the relative minority put out of work get cheaper stuff, and the rest of our multitudes would have to suffer higher prices.
It would be worse for the multitudes. Better for the few with all local production.
Again on balance, better for the whole.
Our direction should be central relief for the displaced workers. Not tariffs and not minimum wages that the employer has to pay. Central policies and moneys.
I understand that... again on balance, better for the whole.
No, you still don't get it.
It's real simple. How can you agree *real* income has been flat for 40 years, and then proclaim that it has been better for the whole?!
The only "whole" it has beneficial to is the 99.9+ %ile. That is the only demographic that has done better than the last 40 years (and long term) per capita GDP rate. The reason they have done better is because all their income comes from profits.
It's real simple. How can you agree *real* income has been flat for 40 years, and then proclaim that it has been better for the whole?!
The only "whole" it has beneficial to is the 99.9+ %ile. That is the only demographic that has done better than the last 40 years (and long term) per capita GDP rate. The reason they have done better is because all their income comes from profits.
We both agree that we have a middle class wage problem. I just don't think the solution should be redistribution (from the rich) or higher prices (tariffs).
No doubt skewed toward the top, but not just the very top has done fine or at least held their own.
No doubt skewed toward the top, but not just the very top has done fine or at least held their own.
What's your solution?
Why do you believe that? Held their own relative to what? Any demographic that has fallen short of the per capita GDP rise has failed to "hold their own". That's 99.9% of the population. Even professionals and PhDs have not experienced a real income increase at all.
The solution is simple, because the problem is that the value of the US$ has been artificially kept too high. This is what is driving the trade deficit. It's why countries like China are happy to trade goods for US$.
Print money, and hand it out. I'd favor first using it to reduce debt for anyone who has any. Keep handing out money until the US$ value drops enough to close our trade deficit and we have a healthy amount of inflation. Domestic investment and jobs would take off. We can get back on a sustainable growth track.
Of course this would screw up the oligarchs "globalization project" whereby they suck wealth from the US and get wealthier and more powerful. So it won't happen, for the reason it has been happening for the last 40 years. The oligarchs are running this country, and democracy is a sham in the US.
We both agree that we have a middle class wage problem. I just don't think the solution should be redistribution (from the rich) or higher prices (tariffs).
No doubt skewed toward the top, but not just the very top has done fine or at least held their own.
What's your solution?
I don't see how you can say that we have tremendous income inequality, and say "well obviously the wealthy have way more money than they deserve, but we could never take money from them and give it to the poor!" I mean, why rule out the only obvious solution to the problem?
Why do you believe that? Held their own relative to what? Any demographic that has fallen short of the per capita GDP rise has failed to "hold their own". That's 99.9% of the population. Even professionals and PhDs have not experienced a real income increase at all.
The solution is simple, because the problem is that the value of the US$ has been artificially kept too high. This is what is driving the trade deficit. It's why countries like China are happy to trade goods for US$.
Print money, and hand it out. I'd favor first using it to reduce debt for anyone who has any. Keep handing out money until the US$ value drops enough to close our trade deficit and we have a healthy amount of inflation. Domestic investment and jobs would take off. We can get back on a sustainable growth track.
Of course this would screw up the oligarchs "globalization project" whereby they suck wealth from the US and get wealthier and more powerful. So it won't happen, for the reason it has been happening for the last 40 years. The oligarchs are running this country, and democracy is a sham in the US.
OK. The top 10 has manged better. The top 1% might not feel it.
I think that your solution is too draconian and politically impossible. Especially as the bulk of those in need don't believe in printing money.
But I do support other efforts to augment this group. Massive infrastructure spending and jobs. Cheaper HC. Lower middle class and wage related taxes.
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