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Millennials 'set to earn less than Generation X'

bbc.com

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Re: Millennials 'set to earn less than Generation X'

#111
post #40
post #28

Earlier quoted context omitted.

You're entirely right, government spending does not harm economic growth.

I can't tell if you're being sarcastic, but I think it's important to note that if you make the reductio ad absurdum argument that a tax rate of 100% has strongly negative effects, sure I'll go with that, but if there's a claim that what we have right now is either too much or too little, then there needs to be some sort of evidence to support that claim.

There's another pole to reductio towards, though -- governmental spending increases without commensurate increases in taxation. I don't know enough macro to know what the resulting inflation would look like, what would happen to interest rates or exports or quality of life etc etc... No doubt mainstream economists would be aghast at the thought (it isn't a mainstream idea, after all -- our recent stimulus has been monetary, not fiscal, and it's only meant to be a short-term thing) so it's probably not such a crash hot idea either.

Re: Millennials 'set to earn less than Generation X'

#112

Earlier quoted context omitted.

Didn't Democrats have control of both the House and the Senate for a period? Also, doesn't being the POTUS mean you know how to bridge gaps and compromise? Sounds like a convenient excuse to point fingers at the other side.

There are decidedly left and right wings of the Democratic Party. He had a filibuster-proof majority of Democrats, but he did not have a filibuster-proof majority of liberals.

Doesn't that indicate his ineffectiveness as a POTUS, though? He couldn't even work with his own party.

Re: Millennials 'set to earn less than Generation X'

#113

Earlier quoted context omitted.

Isn't that just a measure of perception?

It's three-fourths of Millennials themselves who believe that, so it's not just the perception of other generations.

Sure, but is that metric useful? Wouldn't hours worked, vacation taken, etc. be more useful? And even then, you'd have to adjust for under-employment and precarity, don't you think?

I just don't see a self-perception survey like this as very useful in determining the actual working habits of generations.

Re: Millennials 'set to earn less than Generation X'

#114

Earlier quoted context omitted.

Stagnating wages, rapidly increasing house prices, bad terms for renters, increasing university costs. If I were 20 I'd consider working remote and just go live in a much cheaper country. You could get a boomer lifestyle yet!

What the best way to get gigs thats not race to the bottom style jobs on Upwork? I am in that exact situation right now trying to work remote, I have some professional experience but I'm still a junior dev.

What sort of development do you do?

For remote work, you're only a junior dev if you tell them you're a junior dev.

If you can show potential employers a profile of existing work and can convince them that you will bring worth to their company then you can find work.

Re: Millennials 'set to earn less than Generation X'

#115
post #28

Earlier quoted context omitted.

You're entirely right, government spending does not harm economic growth.

Not to champion austerity (and no, I'm really not championing austerity), but if increased spending is paid for with increased borrowing, government bonds will complete in capital markets and make borrowing generally more expensive for everyone. Of course right now capital is ridiculously cheap and the economy still isn't doing very well...

[deleted]

Re: Millennials 'set to earn less than Generation X'

#116

Earlier quoted context omitted.

There are decidedly left and right wings of the Democratic Party. He had a filibuster-proof majority of Democrats, but he did not have a filibuster-proof majority of liberals.

Doesn't that indicate his ineffectiveness as a POTUS, though? He couldn't even work with his own party.

Possibly. But I think it moreso indicates that two party systems are actually multiparty systems without any of the benefits of multiple parties. The various factions operate within their party.

The Republicans have the same issue, but they're less pronounced.

Re: Millennials 'set to earn less than Generation X'

#117
post #49

Earlier quoted context omitted.

Wait are you for increasing the SS cap (which is 118.5k btw) or just eliminating it entirely?

I think having no cap on income for SS would make sense and make the system solvent - so basically, cut a tax only for the wealthy retired folks living off of backs of young folks, who are not exempt and they will never get there by subsidizing old folks in exchange for interest payments on private loans in the 7% range.

That would make SS a tax which it isn't supposed to be right now.

Re: Millennials 'set to earn less than Generation X'

#118

Earlier quoted context omitted.

Didn't Democrats have control of both the House and the Senate for a period? Also, doesn't being the POTUS mean you know how to bridge gaps and compromise? Sounds like a convenient excuse to point fingers at the other side.

You mean all of 2 years out of his 8? Remember the big healthcare reform bill that got passed and the American Recovery Act that prevented the American car manufacturers from closing up shop? What do you know, things can get passed when that party has control, but since then the GOP did everything possible to block all their efforts. So yeah, not much help for those millennials from the GOP.

Perhaps the reason the Democrats lost their super majority was because they rammed ACA and ARRA down the throats of congress with no bipartisan cooperation. It's hard to get the other side to work with you when you've demonstrated how little their opinions matter to you in the first place.

Re: Millennials 'set to earn less than Generation X'

#119
post #114

Earlier quoted context omitted.

What the best way to get gigs thats not race to the bottom style jobs on Upwork? I am in that exact situation right now trying to work remote, I have some professional experience but I'm still a junior dev.

What sort of development do you do? For remote work, you're only a junior dev if you tell them you're a junior dev. If you can show potential employers a profile of existing work and can convince them that you will bring worth to their company then you can find work.

I think this is the hardest thing for me to do. While I can show my skills and a portfolio of work, I am the worst at providing an air of confidence and will often find myself in the moment of hearing their requirements and thinking, "I'm so screwed... I am useless to them." This to me is the hardest thing I've been trying to overcome lately. At the keyboard I'm calm and collect, but dear god am I a lamb facetime to facetime.

Re: Millennials 'set to earn less than Generation X'

#120

Earlier quoted context omitted.

Doesn't that indicate his ineffectiveness as a POTUS, though? He couldn't even work with his own party.

Possibly. But I think it moreso indicates that two party systems are actually multiparty systems without any of the benefits of multiple parties. The various factions operate within their party. The Republicans have the same issue, but they're less pronounced.

I would say the republicans have even more factional problems than the democrats...tea party and trump, moderates, Cristian coalition, etc..! But since they don't control the White House, they are at least unified in there Obama hate, which is mostly how they are perceived.
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