America’s Unequal Economic Recovery

Wally

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Nobody is saying it is good for a small group to control that much. Pull your head out of your ass.

The opportunity is there. Sure there are things that could improve it to an extent. But you fail to acknowledge that there is a fairly hefty portion of the population (growing by the day thanks to current Dem policies for the Welfare State) who have ZERO interest in improving their situation; they are completely content to sit back and allow others to provide for them, or better yet, they feel entitled to sit back and allow others, especially the government, to provide for them.

As long as you fail to figure out that reality, you will never understand the issues behind the problem you're laying out
How is that relevant?

What do lazy people have to do with a small group controlling more and more of the countries wealth every year?
 


Wally

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The millennial generation, people born between 1981 and 1996, make up the largest share of the U.S. workforce

Millennials, who are the median age of 32 today, control just 4.6 percent of U.S. wealth, far behind the 21 percent Boomers had at about that same age a generation before.


Yea this 50 year trend ends well...
 

MplsGopher

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who have ZERO interest in improving their situation; they are completely content to sit back and allow others to provide for them
So many people simply choosing to be not rich, every day! Why won't they just choose to be rich??
 

Ogee Oglethorpe

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The millennial generation, people born between 1981 and 1996, make up the largest share of the U.S. workforce

Millennials, who are the median age of 32 today, control just 4.6 percent of U.S. wealth, far behind the 21 percent Boomers had at about that same age a generation before.
You expect 32-yr olds to have significant wealth? You been eating stupid pancakes again?

Ironically, you've outlined a big part of what's wrong right now; seeing more and more people finishing college and entering the work force who think they should be company Vice Presidents within the first year or two. WTF...
 



Wally

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You expect 32-yr olds to have significant wealth? You been eating stupid pancakes again?

Ironically, you've outlined a big part of what's wrong right now; seeing more and more people finishing college and entering the work force who think they should be company Vice Presidents within the first year or two. WTF...
Its not about that. It's about them never catching up, well unless they have a daddy who gives them a big handout.

Just keep the country going on this same track while screaming about Socialism. Socialism is coming if we stay on this track, mark my words.

My arguments actually are in defence of capitalism and our general system. If these problems keep building and aren't addressed it's actually a real threat to it all.

I don't think having 0.1% of the population as big winners who win more or more every year while most of the rest of the population is stationary and falling behind is sustainable. The relative wealth of someone in the US doesn't matter because people only compare themselves to their neighbors.
 






From the Parkinglot

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In the late 20th century, the Democratic Party moved to the right on economic policy. Bill Clinton and his allies in Congress cut taxes on investments, deregulated Wall Street and embraced a more corporate-friendly image.

The shift was in part a genuine attempt to be pragmatic about what worked. The United States was faring better than its economic rivals in the 1980s and 1990s, and a market-oriented approach seemed to be a reason.

But the evidence has changed in the early 21st century. Economic growth has been disappointingly slow in the U.S., as has income growth for most families. According to many measures of well-being, the U.S. is faring worse than other high-income countries. Life expectancy here has risen less since 1980 than in Canada, Japan, Australia, Britain, France, Germany and dozens of other countries.

Soaring economic inequality is a central cause of American stagnation, as the economists Anne Case and Angus Deaton have explained. With more years of evidence now available, the turn toward laissez-faire economics in the late 20th century — including sharp declines in tax rates on the rich — appears mostly to have helped the rich, not the entire country.

In response, many Democrats have tacked back to the left on economic policy, especially on tax rates for the rich. In 2020, Joe Biden campaigned on raising the income tax, the inheritance tax and investment taxes on the wealthy, as well as increasing the corporate tax (which is effectively paid by stockholders, who are disproportionately wealthy).

When Biden took office, the Democratic Party seemed united in its desire to reverse some of the sharp decline in high-end tax rates. Every Democrat in Congress — including Senator Joe Manchin of West Virginia — had voted against Donald Trump’s 2017 tax cut. And polls show that most voters support higher taxes on the rich. About 80 percent of Americans say they are bothered by wealthy people and companies not paying “their fair share” of taxes, according to the Pew Research Center.
Life expectancy here has risen less since 1980 than in Canada, Japan, Australia, Britain, France, Germany and dozens of other countries.

It’s cause we are all fat angry people who won’t go for a walk and eat fast food all day while looking at out cell phones. I don’t see how that has anything to do with income inequality. Put down the McDonald’s and walk around the block.
 

Spoofin

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Get Richie! No one needs that much!
 




Spoofin

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Great meaningless one liner.
Greed is good, hope that philosophy bites you in the ass one day, hard.
I could pick any of your posts from the last day in this thread that would easily be summarized by my “meaningless one liner”. Start with those damn Waltons!!! BTW - do they create jobs for anyone else with their wealth?
 

Wally

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BTW - do they create jobs for anyone else with their wealth?
They siphon government money by employing a bunch of people who also get food stamps ect. Their wealth is from government subsidizing their business.
 

kg21

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Great meaningless one liner.
Greed is good, hope that philosophy bites you in the ass one day, hard.
Death is good, greed is bad.

Signed,
Wally
 

TRF Guy

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194,000 jobs created in September. It was expected to be around 500,000. Another miss yet there are 11 million jobs available in the country. Build back better baby 😂
 

kg21

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They siphon government money by employing a bunch of people who also get food stamps ect. Their wealth is from government subsidizing their business.
If Wally won the 700 million dollar lotto, he'd either turn it down, or give it all to charity. He is against government subsidizing him.

In fact, he's never once even bought a ticket.

Wally is one amazing father.
 
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kg21

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194,000 jobs created in September. It was expected to be around 500,000. Another miss yet there are 11 million jobs available in the country. Build back better baby 😂
Gawd, this president fu-----g sucks balls.

Off the charts
 

FormerFatOL

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194,000 jobs created in September. It was expected to be around 500,000. Another miss yet there are 11 million jobs available in the country. Build back better baby 😂

Per ZeroHedge, a big piece of the jobs miss was public teachers not getting hired back for this school year. I wonder why.
  • A third mitigating factor to the horrendous headline number is that the miss seems like it’s mostly in the government sector as opposed to the private sector: private payrolls added 317K, missing the expectation of 450K far less than the headline print. Meanwhile, government workers tumbled by a whopping 123K, led by the loss of 144K government education jobs. As shown below, this was the biggest drop in government workers since 2020.
 

kg21

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194,000 jobs created in September. It was expected to be around 500,000. Another miss yet there are 11 million jobs available in the country. Build back better baby 😂
If you drive around towns or go into businesses, It makes one wonder how they get only 11 million jobs available. I'm calling bullshit.
 

MplsGopher

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Global Tax Deal Moves Closer as Hungary, a Low-Tax Holdout, Signs On

A pact among more than 130 countries that would set a minimum tax rate of 15 percent is expected to be announced later Friday.

...

The agreement would include a 15 percent minimum corporate tax rate, which had been proposed by the United States, and rules that would force technology giants like Amazon and Facebook and other big global businesses to pay taxes in countries where their goods or services are sold, even if they have no physical presence there.


:)
 

balds

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If you drive around towns or go into businesses, It makes one wonder how they get only 11 million jobs available. I'm calling bullshit.
Agree. In my south suburban town, if you drive through any retail corridor, business park, or any main intersection, nearly every business has now hiring signs prominent. Most with $1000-$5000 sign on bonuses. It's really quite amazing.

I've personally observed the following recently, all due to lack of staff:

Jimmy John's closed on Sunday.
Noodles in Burnsville outright closed.
Noodles in Savage online orders only (60 minute wait time)
Buffalo Wild Wings dining room closed. Only the bar side open (on college football Saturday).
 

GopherJake

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You expect 32-yr olds to have significant wealth? You been eating stupid pancakes again?

Ironically, you've outlined a big part of what's wrong right now; seeing more and more people finishing college and entering the work force who think they should be company Vice Presidents within the first year or two. WTF...
I agree with this. Not everyone "deserves" to have 2500 sq ft, granite countertops and sunset views over a pristine lake at age 22.
 

Wally

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If Wally won the 700 million dollar lotto, he'd either turn it down, or give it all to charity. He is against government subsidizing him.

In fact, he's never once even bought a ticket.

Wally is one amazing father.
Half of that lottery would go to taxes. As it should, and as it should for those that win the genetic lottery. That was easy...

I buy tickets occasionally, usually not for the big ones, I buy a Gopher5 when it hits $1million. $500k after taxes would be a perfect down payment on a lake house.

100+ million would probably ruin my life and kill me.
 


Wally

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Agree. In my south suburban town, if you drive through any retail corridor, business park, or any main intersection, nearly every business has now hiring signs prominent. Most with $1000-$5000 sign on bonuses. It's really quite amazing.

I've personally observed the following recently, all due to lack of staff:

Jimmy John's closed on Sunday.
Noodles in Burnsville outright closed.
Noodles in Savage online orders only (60 minute wait time)
Buffalo Wild Wings dining room closed. Only the bar side open (on college football Saturday).

Better tighten up the border...
🙄🙄🙄
 

Wally

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If you drive around towns or go into businesses, It makes one wonder how they get only 11 million jobs available. I'm calling bullshit.
Go back to work you lazy sob!
 

FormerFatOL

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Better tighten up the border...
🙄🙄🙄

Absolutely tighten up the border. Then use and/or adjust a LEGAL immigration system that responds to the type of labor the country requires and properly taxes that labor as happens to citizens and law abiding employers.

I thought you were a union guy through and through. Ever wonder what happened to all those union roofing jobs the past few decades?
 





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