Daryl Hunt
Your Worst Nightmare
- Banned
- #1,341
Nobody said being rich isn't cooler than being poor.I can think of a lot of ways. For starters, fewer people with capital is less ability for other people to compete. A poorer population is easier to employ for cheap.
The number one determinant of your economic prosperity is your parent’s economic prosperity and that correlation is getting stronger and stronger. Think about that. We like to think of ourselves as a level playing field where anyone can get ahead but reality seems far from it.
I asked for someone to tell me how me becoming less wealthy benefits them economically.
You can't answer that because it doesn't.
Income inequality only effects your ego. Not your wallet.
You are just playing around with words. Less wealth is neither good nor bad if you have enough of it. Most with "Enough" really don't feel they have "Enough" and want more and usually get it.
As for poor, being less poor is another problem. Getting more Poor means you have either a negative cash flow for living expenses or you have less disposable income. When you check out the disposable income of people making Min Wage in 1968, you find they actually had a small amount after cost of living. Today working one full time job at min wage, there is a negative cash flow for disposable cash flow. In fact, there is a negative cash flow for cost of living. In order to equal the same scale, a min wage worker would need one full time and at least one part time job. The difference is, the cost of living index today is 37% higher versus min wages than it was in 1968. In fact, even at 15 bucks an hour, it's still 37% higher today with the comparable wage than it was in 1968. The same goes for workers in high wage and high cost of living areas making even 21 bucks an hour.
We now spend less growing food. We spend less manufacturing necessities. Let's face it, production costs less. One would think that the disposable income would go higher for people on the lower scale of wage. It isn't. It's higher. Where is that Profit going? It's not going to the worker, that's for sure. The Cost of Living has been affected by a greed factor by those in the higher wage earner brackets that control the cost of living. Oh, it's usually not done all at once. They sneak it by a little at a time with small increases just a small percentage higher than the cost of living indexes. Each year, the lower income people lose a little more. I am seeing that where I live. In fact, the place is emptying out due to some pretty high increases and some pretty stupid draconian rules that are being imposed by a large corporation. The old owner was a private venture, not a nation wide corporation. They have been told that the place is going to empty out and there is going to be a high rate of evictions but they say they don't care. Yes, they are right. They don't care. I have a feeling where I live right now will make a wonderful Apartment Building or Shopping center but they aren't telling us that.
The facts remain that the Rich will get richer and the poor will get poorer. And the lower middle class will slowly move to the poor. The American Dream may not be dead but it's severely wounded.