dudmuck
Diamond Member
Higher inequality contributes to economic downturns because people reduce their savings and increase their debt. This is because these people cant reduce their spending enough.Possibly tax cuts contribute to wage decline, but its likely mostly due to the recent increase of inflation, which gets worse when trade war kicks in.Wages have declined, and we're setting up for another great depression.
Wow!
That's awful because higher profits are bad...…..wait, what?
Wages have declined because of the tax cuts?
Thanks for the CBPP link. It doesn't mention a great depression though......did you post the wrong link?
The CBPP link shows how inequality now is at the same levels prior to the great depression. However, a more ominous sign is inverted yield curve.
Possibly tax cuts contribute to wage decline,
If only the link gave any proof that they do...…
The CBPP link shows how inequality now is at the same levels prior to the great depression.
So what? That's not proof that inequality caused the Great Depression or that it will cause a new Great Depression.
However, a more ominous sign is inverted yield curve.
Inverted yield curves don't cause Great Depressions. Our curve is not inverted.
As far as the graph, why would our lowest skilled workers have kept up with our national productivity?
They aren't very productive.
Or with average workers?
They're below average, that's why they make the minimum wage.
We currently do have inverted yield curve.