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Its a shame that many people are not able to save because of stagnant wages and high taxes. Oh I know we can solve that problem just import more illegal aliens to drive wages up.
To blame liberals for this problem, which liberals have been voicing for years, is misdirect. What liberal policies are you envisioning that caused this? Low taxes on wealth that is the fixation of the right? Liberal have been trying to get policies passed that lower income inequality and raise wages, only to get hampered from the right.
Oh, you know what policy is responsible for lowering income inequality that was passed a few years ago?: Obamacare.
This is nothing new. Americans are not known for being good savers, especially the generations born after the Great Depression. It is no surprise that 1 in 3 could not come up with $2000 in an emergency.
I've been hearing that kind of thing for as long as I can remember, regardless of which party is in office. So it has nothing to do with the "left."
Wages, as a share of productivity, have remained flat since about 1973 while productivity has continued its consistent near-linear rise unabated since the end of WWII.
Savings have declined in conjunction with this shift in income from the have-nots to the haves.
This shift of profits away from workers and toward owners is the direct result of an immigration/guest worker induced labor glut and trade deals that pit US workers against third-world peasants.
Over the past several decades there has been lots of support for increased immigration, guest worker programs and ****ty trade deals from both the left and the right.
Some progress has been made in reversing this trend but much more remains to be done.
The insurgent Sanders campaign was a rejection of this sort of corporatism by the left and was promising in some ways, but it had the distinct anti-white, anti-male, big government overtones that the left is famous for, so I couldn't support it.
Of course the Democratic establishment had their own greedy reasons for opposing it to include NAFTA, the 2000 China Trade Act and the proposed TPP.
The Republican establishment has always supported ****ing working Americans in the *** , but the white working-class base has managed to force change from the bottom up.
Hopefully, Democrats will follow the Republican example in reforming their party, and sooner is better than later.
In the end, selling out working Americans is neither a left or right issue.
It is an earners vs. everyone who would like to confiscate what the earners have produced issue.
Wages, as a share of productivity, have remained flat since about 1973 while productivity has continued its consistent near-linear rise unabated since the end of WWII.
Savings have declined in conjunction with this shift in income from the have-nots to the haves.
This shift of profits away from workers and toward owners is the direct result of an immigration/guest worker induced labor glut and trade deals that pit US workers against third-world peasants.
Over the past several decades there has been lots of support for increased immigration, guest worker programs and ****ty trade deals from both the left and the right.
Some progress has been made in reversing this trend but much more remains to be done.
The insurgent Sanders campaign was a rejection of this sort of corporatism by the left and was promising in some ways, but it had the distinct anti-white, anti-male, big government overtones that the left is famous for, so I couldn't support it.
Of course the Democratic establishment had their own greedy reasons for opposing it to include NAFTA, the 2000 China Trade Act and the proposed TPP.
The Republican establishment has always supported ****ing working Americans in the *** , but the white working-class base has managed to force change from the bottom up.
Hopefully, Democrats will follow the Republican example in reforming their party, and sooner is better than later.
In the end, selling out working Americans is neither a left or right issue.
It is an earners vs. everyone who would like to confiscate what the earners have produced issue.
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Owning allows people to consume without producing. Median home price in my area went up almost $50,000 last year, according to Zillow. What exactly did any homeowner produce to earn that?
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 6,508,655 times
Reputation: 1721
Quote:
Originally Posted by Sage 80
This is nothing new. Americans are not known for being good savers, especially the generations born after the Great Depression. It is no surprise that 1 in 3 could not come up with $2000 in an emergency.
I've been hearing that kind of thing for as long as I can remember, regardless of which party is in office. So it has nothing to do with the "left."
Didn't you know? We're suppose to be good little consumers and spend our money in order to keep consumerism/the economy running. Always remember. Savers BAD. Spenders GOOD.
"Wage stagnation is not an accidental thing. Policy makers have created (or at least, allowed) the problem of wage stagnation. A very wealthy minority with undue influence in Washington were allowed to rake in enormous profits based on frozen wages and increased productivity."
Raise wages to keep up with inflation and Americans will actually have the ability to save some money. But that's not going to happen with the billionaire--gimme more! gimme more! gimme more!--Donald Trump in the White House and Paul Ryan as House Speaker, both of whom have shown absolutely zero interest in raising ordinary Americans' standard of living. Quite the opposite, in fact. Ryan is working overtime to dismantle Medicare and Social Security and the rest of the social safety net. Just imagine how much disposable income people will have then.
I don't see it as an issue of party. I see it as an issue of people not planning for their futures.
I agree , but you can not deny the fact that roughly 10 million jobs lost across the country and stagnant wages haven't played a major role in this.
The smart people adjusted their lifestyles to lower wages. The others , bought a McMansion ,leased a couple of cars and need two bread winner to pay for it all.
I agree , but you can not deny the fact that roughly 10 million jobs lost across the country and stagnant wages haven't played a major role in this.
The smart people adjusted their lifestyles to lower wages. The others , bought a McMansion ,leased a couple of cars and need two bread winner to pay for it all.
From your second link:
"Productivity has increased by 80 percent, but median compensation (that’s wages plus benefits) has risen by just 11 percent during that time."
So where has all that wealth produced by an 80 percent increase in productivity gone? Ask Mr. Trump and his billionaire cronies. Then ask him what he intends to do about it. His answer will be to cut Meals on Wheels because all those greedy seniors eating one meal a day is taking money out of their pockets.
This is what Bernie Sanders was talking about when he said that income inequality was killing America. The greedy bastards who are reaping the benefit of American productivity don't care. They just want more! more! more!
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