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Most people replying here are not rich. Just by the force of habit thier finger types what thier brain stored withput even thinking or reading your post. And most of them old republicans i guess.
Capitalism is never going anywhere as long as there are poo people needing money and work. You constantly have a pool of underclass with bare minimum and they are desperate for money. See for examplehow many people are risking disease to escape hunger and debt - those cashiers, nurses, drivers and grocers.
For once i agree with you. H1b is also that underclass that got created.
The irony is that H1B is not really an underclass, even though their wages may be less than comparable US workers in the same role, they are still earning substantially more than the average middle-class American in many cases.
Of course, American capitalism basically created this problem by allowing public higher-education to be sold as an expensive luxury good, now an 18 year old needs $100,000 in student loans for an engineering undergrad and be paying it off over the course of 30+ years along with quarterly capitalized interest rates of 6-8% percent? That's a terrible deal and many will understandably pass on it.
Therefore, the US has fewer qualified graduates in a market where demand for substantive tech skills are only increasing along with the corresponding salaries due to market demand. Meanwhile, in other countries with subsidized or tuition-capped public higher education, graduates have the financial flexibility to come to the US and reap the benefits of our high paying jobs without an accompanying lifetime of student loan debt.
Unbridled late-stage capitalism is crippling our ability to compete on a national scale but will we reconsider? Nah... Those who got their degree for a couple hundred bucks a semester several decades ago are happy to let the higher education door slam behind them...
Our local university - where I (and many - many - others I know) got engineering and education degrees - a university that's been here over 100 years - a full year of tuition is about $8000. Many places are less. Let's just call it $40K for a four year degree.
When I went - 35 years ago - same university was $2000/yr - or $10,000 for a four year degree, say.
If you invested $10,000 35 years ago, and only had $40000 to show for it today - you'd complain mightily. 4% interest.
That's exactly what you're doing with tuition - in reverse.
$40,000 is the "average" tuition at average universities. Not $100K. New engineers can reasonably expect more than that. For sure, after 5-10 years, this loan should be paid off. It is not high costs making education expensive - it's the change in priorities and horrible decisions by many college students.
Can't afford $10K a year? How about $5k? Work a full time year - then go to school - in 7 years or less you'll be done, with zero student loan debt.
Want to go to MIT? Yeah - me too - couldn't afford it though. Didn't want 100K of debt!
The Democrats want to be back in office so bad that they're overblowing this entire pandemic... They want people to truly believe they need socialism now. Socialism just won't work in a country of this size... It may work in smaller countries, like Denmark, but it won't work here. It will bankrupt this country.
Not to mention that Denmark is significantly more homogeneous.
No, if you remember, the stimulus is to help people pay bills while they are off work, that was the whole point of it in the first place, (people were asking how they were going to pay bills), its NOT meant to be used on a shopping spree!
Paying bills is moving money through the economy. When you pay your rent to your landlady, she pays her lawn maintenance guy, buys her groceries, pays the plumber to repair your leaky sink. Then the plumber buys gas for his truck, diapers for his kids. . .
Until John Kennedy, US tax rates on the highest earners was 91%. He dropped it to 70% where it remained until Ronald Reagan, who dropped it to 28%.
I've seen these numbers for a while now but it leads to a more relevant question as to what has been the effective tax rate after all deductions are taken into consideration?
On the larger topic I don't see how the pandemic either proves or disproves capitalism, but is more of a call to have contingency plans in place since this isn't the first or last one in the U.S. I can't find the number of Covid cases in North Korea, but even if the capitalistic South Korean economy takes a turn for the worst the QOL and economic opportunity there is still miles ahead of its northern neighbor. And you know South Korea actually produces things that are of use to people like phones, TVs and cars while the northerners toil away in their 20th century state-controlled economy.
One thing to note about South Korea: 77% of the S Korean population have private insurance. The national health plan covers at most 60% of each medical bill. They use the private insurance as a bridge to the difference.
One thing to note about South Korea: 77% of the S Korean population have private insurance. The national health plan covers at most 60% of each medical bill. They use the private insurance as a bridge to the difference.
Private insurance in S Korea is exploding.
Bernie won't tell you that.
And I'm pretty sure S. Korea has a strict immigration policy so they have a relatively fixed number of people on their national plan. No illegal aliens flooding their emergency rooms. I could be wrong.
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Socialism does not work. It removes the incentive to work, save, and invest.
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When you pay your rent to your landlady, she pays her lawn maintenance guy, buys her groceries, pays the plumber to repair your leaky sink. Then the plumber buys gas for his truck, diapers for his kids. . .
