Poorest workers are hit hardest by pretty much anything related to money.
In the middle of last century you saw the opposite where the lower you went on the income distribution the faster your income was increasing, relativy speaking.
Poorest US workers hit hardest by slowing wage growth
291–300 of 354 posts
Re: Poorest US workers hit hardest by slowing wage growth
#292Re: Poorest US workers hit hardest by slowing wage growth
#293Earlier quoted context omitted.
> Yes individuals can rise and fall. One of the critiques of meritocracy: > […] It’s wild that everyone is using “merit” and “meritocracy” as though it somehow avoids elitism, when in reality it’s a sneaky way to cement biases without the appearance of bias. Of course people should be judged on their skills and not their wealth. But, how’d they acquire those skills, and why would anyone assume the money didn’t help?…
I do not see how this is criticism. Everything in life involves hefty doses of luck. The alternative (i.e. without merit) seems obviously worse as it would be completely luck, no? The complaint seems to want to lower the ceiling rather than raise the floor.
Not necessarily, patronage systems tend to result in more stable, albeit conservative turnover of leaders.
Re: Poorest US workers hit hardest by slowing wage growth
#294Earlier quoted context omitted.
That particular outcome is possible when you make tariffs in a smart and predictable way. Trumps tariffs are unpredictable and also make local producers pay more for raw material they need.
> That particular outcome is possible when you make tariffs in a smart and predictable way. You would have to prove that claim. There is more than one way to achieve a specific goal. > Trumps tariffs are unpredictable and also make local producers pay more for raw material they need. It’s one of the consequences. There are other ones. Is your only objective is to ensure that local manufacturers pay the least amount p…
You are the one who is making the claim that goes both against what historical data show and against what economists say.
So, yeah, predictability matter. Institution do not want to invest based on something that goes up and down randomly.
> Is your only objective is to ensure that local manufacturers pay the least amount possible for their raw materials? This is very simplistic view of things.
Well, yeah, them paying more is rather massive obstacle. You know what is simplistic view of things? Belief that Trump will make economy better, because you like his fraudster personality and would like to be like him.
Re: Poorest US workers hit hardest by slowing wage growth
#295Earlier quoted context omitted.
Regarding people living in Tornado Alley because they can't afford to live anywhere else, insurance costs are much higher there, so not exactly a bargain. And plenty of wealthy people love high risk areas. Pretty much anything by a sea is high risk. And again, they pay for it with higher insurance rates. It's hard to get a good measure of damage caused by climate change. There are much touted statistics that say bill…
Is insurance a legal requirement for a trailer in Tornado Alley?
Not if you own your trailer without a mortgage. If you have a mortgage you're pretty much required to have insurance. Not getting insurance doesn't make this cheaper really as you'll just lose your property completely every few years. Besides insurance rates are often highly subsidized by federal government and actually a really good bargain
Re: Poorest US workers hit hardest by slowing wage growth
#296Earlier quoted context omitted.
I'm generally in favor. My taxes provide an amazing experience here. I have never seen the abject poverty that I've seen in other places (such as the US) here in NL. Great infrastructure, labor laws, culture and arts, etc. I worry less about break-ins and theft. All-in-all, the least worst place to live, by far.
If we in the USA got our money's worth from taxes, we feel rich. But we truly don't.
You got it, that huge army is not free, that militarized police is not free, the CIA is not free, FBI, NSA, and all that huge security related organizations that nobody else in the world has except maybe Israel and not at the same scale.
Re: Poorest US workers hit hardest by slowing wage growth
#297Isn’t this fundamental down to landlords being able to extract all excess pay from the lowest paid workers? Minimum wage increases, simply get passed on to the landlord on higher rents.
Re: Poorest US workers hit hardest by slowing wage growth
#298The prevailing HN wisdom from, IDK 2010 or before, to 2020something was that inflation was good for the poors because their debt went away (laughable when considering interest rates on a lot of that debt but still). Where are those people now? Why are they not all over these comments posting links rebutting the article? Or if they no longer exist what made them change their minds?
How do you measure prevailing wisdom? Is there some sort of data we can look at?
Re: Poorest US workers hit hardest by slowing wage growth
#299Earlier quoted context omitted.
It absolutely is when the status quo would have increased taxes. That may not be a cut of current taxes, but in the longer timeframe it is absolutely a tax cut.
Framing it as not increasing taxes being a cut is misleading. It's just as disingenuous as scaling back a proposed budget increase and calling it a "cut". The FTC wouldn't let businesses get away with such language, why should the government get a pass?
No. The total tax bill over the next five years was X, given the current laws. Then a bill was passed that reduced that total tax bill over the next five years. This is a tax cut. It's a little absurd to try to claim otherwise.
Re: Poorest US workers hit hardest by slowing wage growth
#300Earlier quoted context omitted.
The immigration crackdown and the tariffs will also mean effective reduced supply of foreign labor, and since their labor is what poor people sell, it will cause upward pressure on their earnings.
The tariff will cause, is causing in fact, increased prices. This will have a negative effect on their earnings.
In the hospitality sector, tariffs (and harassment of tourists at the border) are reducing earnings by reducing tourism.