This is partially true but still a little misleading. The average household size has decreased artificially decreasing these numbers and exaggerating the real-income gap. Also, many consumer goods have decreased in price drastically.
For 25 yr after WW2 productivity & worker's pay rose together & created middle class. In 1980 govt & co. policies started increasing CEO/stockholder pay while squeezing every $ possible from workers. If wages still rose w/ productivity we'd have no crisis of income inequality now
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So you're saying that since people can buy goods more cheaply they deserve to be cheated out of their pay?
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Of course not. Corporate enrichment needs to end. But I just want to acknowledge that some things are indeed on a positive trend.
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When tens of millions of hardworking people don't have time for their spouse, their kids, their life outside work - or if they have to work 2 or 3 jobs just to make ends meet - then thing are not on a positive trend. Not being a Debbie Downer here. Just saying.
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Only 13 million people (approx. 3% of our total population) work more than one job. Americans also work fewer hours than they used to, including the 'working class'. Also, these 2nd+ jobs often include seasonal work. It's not all doom and gloom!
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It's not all gloom and doom at all, if you're in the club as it were. I know the upside of the system when it works for you. But too many can't get into the club today and that's what's wrong. Even before the pandemic 40% of Americans couldn't absorb a $400 unexpected expenditure
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We should be teaching high school students proper financial management and how to start saving into an investment account. Those (even really) small but regular investments can add up to a lot over time. Unfortunately, many kids don't learn this until it's too late.
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Of course it鈥檚 on purpose! It鈥檚 the result of trickle down economics that has dominated since 1980, creating the massive transfer of wealth into the hands of 1%. Those people claimed the money would trickle down & lift all boats and obviously it has not.
Dec 8, 2020 路 1:11 AM UTC
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