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The Great Resignation? More Like the Great Renegotiation

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Re: The Great Resignation? More Like the Great Renegotiation

#321

Earlier quoted context omitted.

If inflation is 5% and you get a 5% raise, you're level in real terms, right? No, because that 5% is taxed at your higher tax rate, which is (usually) higher than your average tax rate. This is called bracket creep.

Only if 5% causes you to change tax brackets. 5% of $300k is a lot more than 5% of $100k or $50k/yr, but only if you were already at the very edge of a tax bracket will 5% cause you to change bracket. Eg the 22% bracket is from $40-$86k for single filers in 2021. Only if you were making $81k or more will 5% tip you over. For everyone else earning 40-81k, that 5% doesn't cause a bracket change.

No, because 100% of that 5% is taxed at the highest bracket but a percentage of your old salary is taxed at your old bracket.

To simplify 100k split 50k @20%, 50k @ 40% is less than (105k split 50k @20%, 55k @40%) / 1.05

The fist is worth 50 * 0.8 + 50 * 0.6 = 70k, the second is worth (50 * 0.8 + 55 * 0.6)/ 1.05 = 69.52k.

Re: The Great Resignation? More Like the Great Renegotiation

#322

Earlier quoted context omitted.

What is the relevance of tax brackets? Earning more nominally while standard of living going down is the same as earning less in real terms. “Moving up” in a tax bracket never means earning less in nominal or in real terms. It just means you get less in your pocket of the extra you earned, not of the total you earned.

I feel like all the stupid comedy shows, especially in the 80s and 90s, making those episodes about getting a raise and earning less money, did a lot of damage to people's understanding of how taxes ACTUALLY work, and continues to ripple to this day, leading to comments like the one you are replying to.

[deleted]

Re: The Great Resignation? More Like the Great Renegotiation

#323

Earlier quoted context omitted.

In both of these cases "we" is a group of thousands of people with varying opinions. There are absolutely plenty of people who very much believe in defunding the police and ending work. As both movements have grown more popular we've naturally seen more people who agree with the general spirit of the movement but hold more moderate views.

If someone doesn’t want to defund the police then I don’t see how they can “agree with the general spirit” unless they want to defund the police. It’s in the name. You can equivocate about anything else but not that. Same for anti-work. I suppose you identified the potential problem here: people inferring that “defund the police” doesn’t actually mean “defund the police” and ascribing softer, feel-good intentions whi…

I guess my point is more that I don't think it's actually that common for people to say they want to defund the police but not mean it.

I was thinking more of a case like this: If someone is already outraged about police brutality and they see that a "defund the police" rally is happening, there's a greater chance they'll go as it offers them an opportunity to express their general dissatisfaction with the police regardless of whether they agree 100% with the specific ideology of the organizer. When the headline the next day reads "10000 Attend Defund the Police Rally", this leads to the perception that 10000 people believe in defunding the police when the actual number is much smaller

Re: The Great Resignation? More Like the Great Renegotiation

#324
post #247

Earlier quoted context omitted.

The billionaire stock owner in your example's economic power has increased by 10x regardless though. They can borrow against that money and those funds aren't taxed - so they can effectively spend it without taxation. They can cycle debt to avoid ever having to sell a single share for their entire life, at rates more favorable than any middle class person has access to. We can fix our tax code with legislation to add…

I assume they borrow against the after-tax value of the stock, because it will be taxed before being paid back(?) I don't know if that is significant, but I figure it's worth noting.

No that’s not how it works. Infact, you can get a margin loan at 0.75% interest from ibkr if you hold more than 50k usd of stock for half of its value.

Of course, if that value drops you’ll get margin called for more collateral

Re: The Great Resignation? More Like the Great Renegotiation

#325
post #2

"The Great Resignation" feels a bit like a phrase that folks have grasped on to and just attach the narrative they want to believe to it. Constant articles and such with very little data. Very frustrating as a reader. The idea that amid a pandemic and such that there are a variety of reasons seems backed up by the data, although I admit that's what I'm inclined to believe / seen.

> Constant articles and such with very little data. Very frustrating as a reader. Actual resignations are up slightly, but the idea that employees are quitting in droves is exaggerated. It’s higher than normal turnover, but the stories are written in ways to suggest that companies everywhere are gutted by employees leaving in bulk. I feel like “great resignation” was deliberately chosen to mislead people into thinkin…

I think a few industries are having an outsized effect on the stats, starting with hospitals.

>Of course, that doesn’t make sense because the employees are being hired at other companies.

I don't think this is a valid assumption. I know a lot of people shifting from dual income families to one parent staying at home with the kids. Even more wanting to go from full time to part time positions.

The local regional/ trauma 2 hospital had (admittedly) lost more than 50% of nurses in a year, (unofficially) replaced fewer than half of those, and that was before any of the vaccine mandates were announced or deadlines set.

Vaccine politics have silenced them since then, but work shifts that were already understaffed at the start of covid with 1 MD, 2-3 mid-levels, and 6-8 nurses are still regularly making due with as little as 1 MD and 2 nurses.

Obviously nurses are a special case given... the state of things over the past 2 years. But those numbers are just absurd, even as an outlier.

I think assuming any sort of (near) net-zero shift in staffing is going to be wrong, be it within a particular office, business, profession, industry, or geographic area.

Re: The Great Resignation? More Like the Great Renegotiation

#326

Earlier quoted context omitted.

[flagged]

An additional and worthwhile addition: Black Lives Matter. The movement was never ONLY Black Lives Matter, or Cops Lives Don't Matter, or any of the other ways various opponents have decided to interpret the name to justify ignoring the societal criticisms of the protests. Truth is, words are tough, and the more complex and nuanced a topic gets to be, the more a pity simple phrase or title become impossible to be acc…

It was never about black lives either. If it was then they would care about the black on black violence in Chicago, for example. BLM is a marxist, anti American, anti nuclear family organization. It was all clearly and openly stated on their website.

Re: The Great Resignation? More Like the Great Renegotiation

#327
post #16

Earlier quoted context omitted.

If you go to r/AntiWork on Reddit and read their sidebar, it's fairly easy to understand what the point is: > A subreddit for those who want to end work, are curious about ending work, want to get the most out of a work-free life, want more information on anti-work ideas and want personal help with their own jobs/work-related struggles.

That's what's in the sidebar, but a quick browsing of the posts in there suggests a more socialist bent to me.

So, you're actually bumping up against a long-running split in left-wing politics between left-libertarian Anarchists and left-authoritarian Socialists.

The Socialist argument is that profit motives are fundamentally exploitative of workers, and that ownership over the means of production should be in the hands of people who work there. The reason why capitalism is bad is because it enables a privileged few to not work, by making other people do their jobs for them. This is why most Socialist law considers "social parasitism" to be a crime: work is a virtue.

The Anarchist argument is that work itself is the exploitation and that we should strive to reduce it wherever possible. The reason why capitalism[0] is bad is because it creates bullshit jobs that don't need to exist, not just that the workers aren't getting paid enough to do those bullshit jobs.

A good way to remember this is that Socialists gave us labor unions, while Anarchists gave us the 9-to-5 work day.

What seems to have happened is that /r/antiwork started off as strictly left-libertarian, and then gradually expanded to the sort of vague Internet Leftist consensus that we see today. This is a particular brand of left-populism that likes to use the word "socialism" a lot, despite promoting policies more akin to social democrats. There's an annoying quirk of populism (either side) in which they get drunk off justice porn and extremism and don't actually form a coherent political platform. It's one thing to say "I hate capitalism", and another thing to actually propose a workable reform or replacement. Reddit is particularly bad at this as the karma system encourages "content consumption" - i.e. the production of low-effort memes because that's what people upvote immediately. In a way, gaming Reddit itself is it's own bullshit job.

[0] I should point out that Anarchists do not restrict their criticism to merely capitalism but all forms of coercive power, up to and including Socialism as I have defined it here, as well as the Communism that the Soviet Union implemented. "Work is a virtue" is something shared across capitalism and Socialism alike.

Re: The Great Resignation? More Like the Great Renegotiation

#328

"Yet, despite all the quitting and renegotiating, the real wage for the average American worker — meaning the true value of their paycheck after taking into account inflation — fell by 2.4% in 2021." All while the world's elites have doubled or tripled their fortunes. Great Robbery would be a more apt name than Great Resignation.

[deleted]

Re: The Great Resignation? More Like the Great Renegotiation

#329
At least two things happened here:

- The pandemic gave most people an unusually-long period of time at home to help them realize all the things they could have been doing (e.g. spending more time with family, not being stuck in a commute), if only their work had not been sucking up all their time and energy.

- Income vs. expenses changed to the point where people couldn’t hope to pay off their debts even if they worked. Work has not been paying anywhere near enough. At that point, what is there to lose: if you will be swamped and in debt with work, and you will also be swamped and in debt without work, at least the 2nd option means finally not having to put up with the crap from many workplaces.

Also, it has just become clearer and clearer where all the lies were told. Society did not treat “essential” workers that way at all. There was all kinds of prioritization of bottom line over employee health, especially early on. We all assumed that governments could/would do a lot more to help. Heap on all the unfilled promises for promotions, raises, etc. and many workers just have no reason at all to give a crap anymore.

Re: The Great Resignation? More Like the Great Renegotiation

#330
post #259

Earlier quoted context omitted.

Wage gains are not being treated the same as investment gains. It's not like Bezos is taking home an hourly rate. Everybody at the real top is doing quite, quite well. That's why the concentration of wealth into a very few hands at the top marches on, not because of "wages".

AMZN is down 10+% over the last year so not sure about that one.

He's got elite financial engineers at his disposal, it's highly doubtful his fortune has declined in lockstep with the AMZN share price.
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