Do We Have an Economy for the Wealthy?

[Dont Taz Me Bro]

I thought this poll was an interesting observation and it's not the first time I've seen it. Look at the people who approve of Biden's job as president. One, 81% of Democrats which is no surprise since it's his party. 55% of blacks which, again, no surprise given how heavily Democratic they are as a group. The one that stands out is 53% of white college. Every other group has a negative view of his performance, especially men and whites without a college degree, two groups who tend to make up more blue-collar jobs.

So why is it that college educated whites see it differently from everyone else? College educated people generally make more money than non-college educated people. I have an MBA and my wife and I, while not rich, fall into the upper middle-class income category and I can honestly say that despite inflation we are not experiencing hardships in our household. We haven't had to make any sacrifices. We still take trips and go out to eat at nice restaurants here and there. In fact, we are headed to Europe again for two weeks next month. Strictly from the microcosm of my household we're doing well, but we were doing well before too and I gather this is what a lot of people in the college educated whites group are also experiencing. There is a disconnect between that group and what everyone else is apparently dealing with.

So that begs the question, is this an economy for the wealthy?

 

[Dogmaphobe]

The democrat party is all about the little guy.



After all. Jeff Bezos is only five foot seven.

 

[Arlette]

I thought this poll was an interesting observation and it's not the first time I've seen it. Look at the people who approve of Biden's job as president. One, 81% of Democrats which is no surprise since it's his party. 55% of blacks which, again, no surprise given how heavily Democratic they are as a group. The one that stands out is 53% of white college. Every other group has a negative view of his performance, especially men and whites without a college degree, two groups who tend to make up more blue-collar jobs.

So why is it that college educated whites see it differently from everyone else? College educated people generally make more money than non-college educated people. I have an MBA and my wife and I, while not rich, fall into the upper middle-class income category and I can honestly say that despite inflation we are not experiencing hardships in our household. We haven't had to make any sacrifices. We still take trips and go out to eat at nice restaurants here and there. In fact, we are headed to Europe again for two weeks next month. Strictly from the microcosm of my household we're doing well, but we were doing well before too and I gather this is what a lot of people in the college educated whites group are also experiencing. There is a disconnect between that group and what everyone else is apparently dealing with.

So that begs the question, is this an economy for the wealthy?

Sounds like it's an economy for college educated people.

 

[Dogmaphobe]

Sounds like it's an economy for college educated people.

So, how are you doing, instead?

 

[DudleySmith]

Because deadbeats warming seats in college are on a bigger dole than the worker on food stamps. In college you get free room and board, sometimes a do nothing job via 'work study', everything is paid for, so yeah, they like how it works. The 'middle class' and wealthy get the biggest subsidies, tax bennies, and gravy, so they love the 'system'. Credentialism, AA, and infantile back biting has replaced competence and initiative in corporate bureaucracies, same as it has in govt. and military. That what happens when monopolies and oligarchies take over govt. and economies.

Massive unemployment in Red China among people under 30 is a major problem for the Cadre now. Sane thing with the effects of off-shoring high productivity jobs out of the U.S. has caused. Modern high tech economies produce fewer jobs that need anything beyond a 5th grade education level, but we insist that everybody needs to go to college. The disconnect with reality is actually pretty funny. Law school grad are suing their schools over being lied to about he demand for lawyers being nearly non-existent. lol same witha ll the other glutted labor markets. Meanwhile the corporations have the govt. handing them millions of green cards.

 

[Dont Taz Me Bro]

Because deadbeats warming seats in college are on a bigger dole than than the worker on food stamps. In colege you get free room and board, sometimes a do nothing job via 'work study', everything is paid for, so yeah, they like how it works.

The group is college educated whites, meaning those with a degree, not those currently in college.

 

[DudleySmith]

The group is college educated whites, meaning those with a degree, not those currently in college.

Same people. No difference in mentality. Pampered and pandered to.

 

[Rambunctious]

Describe a nation without a lot of wealthy people..... anyone want to take a crack at what that would be like?...
Come on libs... lets take this all the way...

 

[Dont Taz Me Bro]

Describe a nation without a lot of wealthy people..... anyone want to take a crack at what that would be like?...
Come on libs... lets take this all the way...

What does that have to do with the topic?

 

[Rambunctious]

What does that have to do with the topic?

Having an economy that favors wealthy people helps everyone... rich and poor...

 

[task0778]

So that begs the question, is this an economy for the wealthy?

Well, Biden's economy isn't getting much approval from the white no-college crowd, 28/66. Those are the people trying to make it paycheck to paycheck and many of them are losing the battle to inflation. So, one might conclude that in general the current economy is definitely NOT for the non-wealthy.

Funny thing: the progressive Left screamed and hollered about the Trump tax cuts and how much they favored the wealthy, yet the wealthy favor the democrats. Could it be that those tax cuts actually helped the non-wealthy even more than the wealthy and that is a possible reason why they support the Rs?

 

[Dante Reawakened]

I thought this poll was an interesting observation and it's not the first time I've seen it. Look at the people who approve of Biden's job as president. One, 81% of Democrats which is no surprise since it's his party. 55% of blacks which, again, no surprise given how heavily Democratic they are as a group. The one that stands out is 53% of white college. Every other group has a negative view of his performance, especially men and whites without a college degree, two groups who tend to make up more blue-collar jobs.

So why is it that college educated whites see it differently from everyone else? College educated people generally make more money than non-college educated people. I have an MBA and my wife and I, while not rich, fall into the upper middle-class income category and I can honestly say that despite inflation we are not experiencing hardships in our household. We haven't had to make any sacrifices. We still take trips and go out to eat at nice restaurants here and there. In fact, we are headed to Europe again for two weeks next month. Strictly from the microcosm of my household we're doing well, but we were doing well before too and I gather this is what a lot of people in the college educated whites group are also experiencing. There is a disconnect between that group and what everyone else is apparently dealing with.

So that begs the question, is this an economy for the wealthy?

The wealthy always do well in a capitalist economy.

 

[DudleySmith]

The wealthy always do well in a capitalist economy.

They do even better in a Communist economy. Just ask all the corporations doing business with Red China's Cadre, who are also very rich people.

 

[Dont Taz Me Bro]

Having an economy that favors wealthy people helps everyone... rich and poor...

The point is the non-rich aren’t seeing it that way.

 

[DudleySmith]

The point is the non-rich aren’t seeing it that way.

Can't have rich people without having a whole lot more poor people.

 

[Rambunctious]

The point is the non-rich aren’t seeing it that way.

I don't agree... the tides are changing fast... people aren't as dumb as dems would hope they were...
Even illegal immigrants know who sighs their check each week... and its not uncle Sam... its a rich farming company....

 

[Rambunctious]

The wealthy always do well in a capitalist economy.

How can the working class do well without wealthy people?... and keep in mind the middle class pays for everything...

 

[candycorn]

I thought this poll was an interesting observation and it's not the first time I've seen it. Look at the people who approve of Biden's job as president. One, 81% of Democrats which is no surprise since it's his party. 55% of blacks which, again, no surprise given how heavily Democratic they are as a group. The one that stands out is 53% of white college. Every other group has a negative view of his performance, especially men and whites without a college degree, two groups who tend to make up more blue-collar jobs.

So why is it that college educated whites see it differently from everyone else? College educated people generally make more money than non-college educated people. I have an MBA and my wife and I, while not rich, fall into the upper middle-class income category and I can honestly say that despite inflation we are not experiencing hardships in our household. We haven't had to make any sacrifices. We still take trips and go out to eat at nice restaurants here and there. In fact, we are headed to Europe again for two weeks next month. Strictly from the microcosm of my household we're doing well, but we were doing well before too and I gather this is what a lot of people in the college educated whites group are also experiencing. There is a disconnect between that group and what everyone else is apparently dealing with.

So that begs the question, is this an economy for the wealthy?

Its getting there.

A few months back there was a discussion on one of the news shows on NPR about how an automobile is pretty much as much of a necessity as internet and cellular communications--an ability to receive text messages. The hook was treating car ownership like treating house ownership when it comes to taxes relative to the high costs and necessity.

 

[Mac1958]

So that begs the question, is this an economy for the wealthy?

That's a great freakin' question. I'm not even sure I'll be able to make sense here, but what the hell:

We have an economy that allows for a rapid momentum that creates the wealthy. If money is just pissed away (like, say, what we see a lot of lottery winners do) it doesn't create wealth. But if leveraged properly, capital can feed on itself incredibly quickly. I think that's less a function of education level and more a function of instinct and opportunity. Some people have it, some people don't.

Our current tax structure plays a huge role in that. Tax rates are low, capital gains tax rates are low. And maybe most importantly, re-investment rules (generally ZERO taxes on capital gains if they're rolled properly) just throw the door wide open to exponential wealth growth. So utililzing leverage and tax law gives you a significant advantage in this economic "system" of ours.

This structure has created massive wealth disparities, and they'll only continue to increase and feed on themselves. So we're nearing a point at which we're going to need to make some decisions, before we see another French Revolution here. We already have a large group of people who feel they've been cheated and victimized, and are acting out over it. Which opens up ANOTHER topic....

 

[toobfreak]

I can honestly say that despite inflation we are not experiencing hardships in our household. Strictly from the microcosm of my household we're doing well

Poor people have no cushion to take the Biden hit. You may still be doing well, but you are not doing as well as before Biden. Your headroom has shrunk. You just have enough financial cushion to absorb the loss. So far. If you can't see that, your college owes you a refund.

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