America’s Unequal Economic Recovery



bga1

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If you are considered not in poverty because you are receiving enhanced government payments in the short term- you are about to be in poverty again. This time you will have even more bad habits- developed during the period of subsidized sloth.
 

Go4Broke

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Government policy should not ensure a flood of low-wage workers for America’s businesses.

The job of the government is not to ensure a supply of workers at whatever wage rates businesses set. And workers’ having the power to say no is not a policy problem that the government needs to solve. For decades, though, Washington and America’s statehouses have helped rig the country’s policy infrastructure in employers’ favor.

The federal government has set the country’s wage floor below its poverty line, for instance, and has not increased the minimum wage to account for improvements in productivity and output over time. The current federal minimum is just $7.25 an hour, compared with roughly $10 an hour in Ireland and Canada, $11 in the Netherlands, $12 in France and Germany, and $12.50 in Australia and Luxembourg. Indeed, the United States has the lowest minimum wage compared with typical or average wages of any country in the Organization for Economic Cooperation and Development.

The government has also proved complicit in the collapse of unionization and collective bargaining, making it easy for businesses to beat back organizing efforts and difficult for workers to band together to demand raises, benefits, and safe working conditions. The country has half, one-fifth, one-ninth of the collective-bargaining coverage of many of our peer countries. This has increased inequality in America, holding down wages while bolstering corporate profits.

In recent decades, the government has also decided to allow the unfettered proliferation of Uber-type jobs, sacrificing the needs of low-wage workers in order to satisfy the preferences of wealthy, urban consumers and calling it all “innovation.” The central “innovation” of the gig economy is to call employees “contractors,” to avoid giving them benefits and a stable salary.

The government has long encouraged low-wage jobs and forced people into them. This is what we are seeing when governors rush to slash UI at the first sign of a real recovery and when policy makers describe workers’ demands as a “drag” on the economy. Uncle Sam is acting in the interests of low-wage employers, not the economy as a whole.

Even the American safety net exists not to eliminate poverty so much as to use poverty as a cudgel to force individuals into low-wage work. The earned-income tax credit goes only to people with earned income; food stamps and welfare benefits require a job-search effort. Over time, UI has become in some ways more and more like welfare; many states have made benefits shorter in term and stingier in size.

https://www.theatlantic.com/ideas/archive/2021/06/labor-shortage-positive/619050/
 



Go4Broke

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Nearly half of American workers don’t earn enough to afford a one-bedroom rental

Nearly half of American workers do not earn enough to rent a one-bedroom apartment, according to new data. Rents in the US continued to increase through the pandemic, and a worker now needs to earn about $20.40 an hour to afford a modest one-bedroom rental.

The median wage in the US is about $21 an hour The data, from the National Low Income Housing Coalition, shows that millions of Americans – from Amazon warehouse workers to cab drivers to public school teachers – are struggling to pay rent. For the poorest Americans, market-rate housing is out of reach in virtually all of the country.

About 14% of Americans fell behind on rent payments during the pandemic – roughly double the figure before the pandemic. A federal moratorium on evictions has kept renters from being kicked out of their homes, but the moratorium lapsed last month, only to be extended into early October for those in regions hardest hit by the pandemic.

And it’s not just big cities skewing the data. A two-bedroom rental – a reasonable size for a family – would stretch the budgets of renters in most US counties:


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Minimum wage isn’t enough to afford a two-bedroom rental anywhere in the US

For those earning the lowest wages, the housing situation is even more dire.

The federal minimum wage is $7.25 an hour, but some states, counties and cities have established higher minimum wages – the highest being $16.32 an hour in San Francisco. Still, there isn’t a single US county where a full-time minimum wage worker can afford a modest two-bedroom rental.

A higher minimum wage does make a difference for housing affordability.

In Missouri, Arkansas and Illinois, higher minimum wages make housing costs relatively manageable compared with neighboring states that have not raised the minimum wage above federal levels.

For example, in Sunflower county, Mississippi, the minimum is $7.25, which means a worker would need to spend about 54% of their income on a two-bedroom rental – about $684 a month. Just 125 miles away in Arkansas county, Arkansas, the minimum wage is $11, which means a worker would spend only about 36% of their income on a similar rental.

https://www.theguardian.com/society/2021/aug/12/housing-renter-affordable-data-map



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Spoofin

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Nearly half of American workers don’t earn enough to afford a one-bedroom rental

Nearly half of American workers do not earn enough to rent a one-bedroom apartment, according to new data. Rents in the US continued to increase through the pandemic, and a worker now needs to earn about $20.40 an hour to afford a modest one-bedroom rental.

The median wage in the US is about $21 an hour The data, from the National Low Income Housing Coalition, shows that millions of Americans – from Amazon warehouse workers to cab drivers to public school teachers – are struggling to pay rent. For the poorest Americans, market-rate housing is out of reach in virtually all of the country.

About 14% of Americans fell behind on rent payments during the pandemic – roughly double the figure before the pandemic. A federal moratorium on evictions has kept renters from being kicked out of their homes, but the moratorium lapsed last month, only to be extended into early October for those in regions hardest hit by the pandemic.

And it’s not just big cities skewing the data. A two-bedroom rental – a reasonable size for a family – would stretch the budgets of renters in most US counties:


View attachment 13679


Minimum wage isn’t enough to afford a two-bedroom rental anywhere in the US

For those earning the lowest wages, the housing situation is even more dire.

The federal minimum wage is $7.25 an hour, but some states, counties and cities have established higher minimum wages – the highest being $16.32 an hour in San Francisco. Still, there isn’t a single US county where a full-time minimum wage worker can afford a modest two-bedroom rental.

A higher minimum wage does make a difference for housing affordability.

In Missouri, Arkansas and Illinois, higher minimum wages make housing costs relatively manageable compared with neighboring states that have not raised the minimum wage above federal levels.

For example, in Sunflower county, Mississippi, the minimum is $7.25, which means a worker would need to spend about 54% of their income on a two-bedroom rental – about $684 a month. Just 125 miles away in Arkansas county, Arkansas, the minimum wage is $11, which means a worker would spend only about 36% of their income on a similar rental.

https://www.theguardian.com/society/2021/aug/12/housing-renter-affordable-data-map



View attachment 13680
Time for the feds to limit rental fees. It makes perfect sense.
 

Ogee Oglethorpe

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Time for the feds to limit rental fees. It makes perfect sense.
I'm not sure about the rest of the country but there is a serious movement going on here in southern NV. California investors have always been here buying affordable houses away from your typical first-time home buyers, paying cash for your typical $200-$250k entry level home. But talking to a couple of realtors I know, investors are REALLY ramping it up in the last 6-8 months. Apparently they want to turn this market into a renting market, with as many homes as they can consume being turned into rental homes.

A lot of these investment groups are pension funds apparently, funds trying to recover some of the losses they are taking from terrible retirement packages from years past.

I know at least 3 different people who had been renting and recently had their leases end, the homes sold immediately and the rent increased dramatically. A ton of homes have increased by 50%+ in price in just the last 5-6 months, pretty much impossible for the low-mid income earner to buy a house.

Where is all the rental money going to come from? How are people going to absorb an increase in rent from $1500 to $2000 or $2200?

Unintended consequences strikes again.... never fails.... And people like Broke keep cheering it on for some reason
 




Wally

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California investors have always been here buying affordable houses away from your typical first-time home buyers, paying cash for your typical $200-$250k entry level home. But talking to a couple of realtors I know, investors are REALLY ramping it up in the last 6-8 months. Apparently they want to turn this market into a renting market, with as many homes as they can consume being turned into rental homes.

Spoof loves that. A few people owning everything in the country is his wet dream. Spoof even thinks those investors need a tax cut!!!!
 

Spoofin

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Spoof loves that. A few people owning everything in the country is his wet dream. Spoof even thinks those investors need a tax cut!!!!
Surprising that you think about my wet dreams. Not surprising you just make sh!t up.
 

Wally

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Surprising that you think about my wet dreams. Not surprising you just make sh!t up.
Make up what?
What I said in that post is the exact position or follows directly from the positions you espouse. Yes it is exactly what you advocate for. Sure the wet dream part was hyperbole but the rest stands.

Makes sense that you fixate on the meaningless part and ignore completely the important parts...sad
 

Spoofin

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Make up what?
What I said in that post is the exact position or follows directly from the positions you espouse. Yes it is exactly what you advocate for. Sure the wet dream part was hyperbole but the rest stands.
Really - I think they should get tax cuts? I think just a few should own everything?
 



Wally

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Really - I think they should get tax cuts? I think just a few should own everything?
Every position you take supports that. Look at any of your responses on raising taxes on the wealthy.

The few owning everything is the natural result of the policies you support.
 

Spoofin

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Every position you take supports that. Look at any of your responses on raising taxes on the wealthy.

The few owning everything is the natural result of the policies you support.
What a load. Now you are telling me what my positions are. Sidekick 2.

I like people finding legal ways to make money instead of free loading. Self accountability. Good for them! I don’t give a rat’s ass if thousands own and rent apartments in So-NV, why would I care or prefer just a couple do? As for taxes, they should pay their taxes … their share - more BS that I would want them to get tax cuts. I see you are already backtracking that above by talking about raising taxes. Quite the difference. I don’t think that the more successful they are, the more we should sock it to them. Have never said we should tax them less if they make more. That’s your BS.
 

Wally

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What a load. Now you are telling me what my positions are. Sidekick 2.

I like people finding legal ways to make money instead of free loading. Self accountability. Good for them! I don’t give a rat’s ass if thousands own and rent apartments in So-NV, why would I care or prefer just a couple do? As for taxes, they should pay their taxes … their share - more BS that I would want them to get tax cuts. I see you are already backtracking that above by talking about raising taxes. Quite the difference. I don’t think that the more successful they are, the more we should sock it to them. Have never said we should tax them less if they make more. That’s your BS.
Taxes have been massively cut for the wealthy over the last 40 years. This is the result and you support it.

And you wonder why cities got burned... ROTFLMAO
 

Random Gopher Fan

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Taxes have been massively cut for the wealthy over the last 40 years. This is the result and you support it.

And you wonder why cities got burned... ROTFLMAO
I think deep down Spoof feels partially responsible for Portland explaining his recent obsession with the city.
 

Spoofin

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Taxes have been massively cut for the wealthy over the last 40 years. This is the result and you support it.
What is the result?
You said “Spoof wants them to get tax cuts” and cited my responses to the idea of raising taxes and the fact that taxes have been cut in the past as some correlation. 🙄 Oh, and that “this” is the result. All utter nonsense.

I don’t give a sh!t who buys and rents out houses….. as long as they follow the laws - including paying their taxes. That’s consistent with anything I have ever said. It is their right so I would not be in favor of the Gov’t stopping it and I wouldn’t be in favor of the “no one needs that much money” progressive tax ideas put on them if they were wildly successful. Your “spoof wants a few to own everything and get tax breaks” was just dishonest.
 

Wally

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What is the result?
You said “Spoof wants them to get tax cuts” and cited my responses to the idea of raising taxes and the fact that taxes have been cut in the past as some correlation. 🙄 Oh, and that “this” is the result. All utter nonsense.

I don’t give a sh!t who buys and rents out houses….. as long as they follow the laws - including paying their taxes. That’s consistent with anything I have ever said. It is their right so I would not be in favor of the Gov’t stopping it and I wouldn’t be in favor of the “no one needs that much money” progressive tax ideas put on them if they were wildly successful. Your “spoof wants a few to own everything and get tax breaks” was just dishonest.
Taxes have been cut over and over and over.

Lets just go back to the good old days when America was great. MAGA!
 


STPGopher

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Every position you take supports that. Look at any of your responses on raising taxes on the wealthy.

The few owning everything is the natural result of the policies you support.
Yes, his double talk creates confusion...
 

Spoofin

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Yes, his double talk creates confusion...
Right - saying that I don't think we should tax the hell out of the rich is the same thing as saying they should get big tax breaks. Such Double Talk. :rolleyes:
 

Wally

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Right - saying that I don't think we should tax the hell out of the rich is the same thing as saying they should get big tax breaks. Such Double Talk. :rolleyes:
They get big tax breaks already considering most of their income is capital gains or pass thru income.
 

Spoofin

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They get big tax breaks already considering most of their income is capital gains or pass thru income.
All those "big" tax breaks.

The new data shows that the top 1 percent of earners (with incomes over $540,009) paid over 40 percent of all income taxes....... The amount of taxes paid in this percentile is nearly twice as much their adjusted gross income (AGI) share.
Still, nobody needs that much, they won't notice if we take more.
 

Wally

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Let them pay the same percentage in taxes and fees as someone making $150,000.

I don't give a shit about totals. Its a stupid rediculous argument.
 

Spoofin

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Let them pay the same percentage in taxes and fees as someone making $150,000.

I don't give a shit about totals. Its a stupid rediculous argument.
They don't pay a higher percentage?
The USA already has a progressive tax, Wally. You can look it up.
 

Wally

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They don't pay a higher percentage?
The USA already has a progressive tax, Wally. You can look it up.
No they don't.
Most of their income is capital gains and pass thru income which gets taxed lower. ALOT lower.
 

bga1

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Let them pay the same percentage in taxes and fees as someone making $150,000.

I don't give a shit about totals. Its a stupid rediculous argument.
Ridiculous straw man, Wally. No one is arguing at the moment to massively cut taxes on the high end. Smart people are asking where the end game is. Can you continue to offer freebies to the bottom 50% and in each situation claim (falsely) that the top 1% don't pay their fair share but would be able to pay for it? You have been shown that high income people pay double their share of the income already. 1% pay 40% of the burden (IIRC) and that isn't enough for you.
Of course not. You cannot continually threaten to punish success and then expect to have more of it.
When you manipulate the taxes the wealth inequality gets worse as it did under Obama.

People who make a lot of money will logically say- enough! Then they take measures to keep more for themselves or set up to do business in places where the taxes are less painful. It's a stupid game that politicians are playing with.
 

Spoofin

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No they don't.
Most of their income is capital gains and pass thru income which gets taxed lower. ALOT lower.
Capital gains are taxed differently for good reason Wally. When it comes to income tax the rich pay a higher percentage and you trying to frame it as if they don't is dishonest, at best.
 

Ogee Oglethorpe

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They don't pay a higher percentage?
The USA already has a progressive tax, Wally. You can look it up.
I'd be okay with at least a little "Thank you" every now and then. Not much to ask...
 




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