61–70 of 354 posts
"people earning roughly less than $806 a week — slowed to an annual rate of 3.7 per cent in June, down from a peak of 7.5 per cent in late 2022" With inflation dropping from 9.1% in June 2022 to 2.7% in June 2025, real wages for these low earners are now growing for the first time in years. The Financial Times failure to mention this context makes me question their motives.
This is total crap [1][2].
Poorest workers are hit hardest by pretty much anything related to money.
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On this topic- last year it was somewhat common for R politicians to criticize the D regime for the “report high, revise low” strategy - if anything, I guess, this firing has been telegraphed. Anyway, those people were also called conspiracy theorists and politically motivated. There’s clearly a conflict of interest between the facts and what is politically expedient on all sides of the political system in the USA. I…
This sounds like a call for it to be biased low? I'd prefer zero net bias - overstate and understate equally often - and as little error as possible. (Also, I'd like a pet unicorn for the munchkin.)
The problem seems to be around the preliminary numbers and how widely they get reported. Maybe this is a case where excessive transparency and reporting partial data that's known to be inaccurate is negatively useful?
Or maybe there could be some way to get people to accept that it's known to be wrong, and only useful if you have the chops to account for that wrongness in whatever you're using it for? But humans in general seem to mostly be allergic to not knowing things, so...
Maybe the wrongness is predictable enough to model and account for, but publishing "expected correction" numbers along with the preliminary numbers would be extremely un-conservative in that doing that is speaking with your own voice rather than just collecting and reporting data.
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> Decades of worsening conditions for the commoner is Ron Wyden's idea of a booming economy. Democrats are useful idiots. I can't anymore, folks. Republicans passed the largest tax cuts for billionaires, increased the deficit by trillions, and kicked millions of people of medicaid. Meanwhile, Trump is out there creating the most regressive tax system via tariffs we've ever seen which affect the poorest the most. Yet…
There were no tax cuts for billionaires in the BBB.
(Not increasing the tax is not a "cut".)
the min wage is long overdue, its should be somewhere near $25/hr this is how you 'tax' billionaires
the min wage is long overdue, its should be somewhere near $25/hr this is how you 'tax' billionaires
That's a good way of turning the poorest US workers into the poorest US unemployed. If you raise the minimum wage above the actual value of an employee, then they're just going to get fired. Even if they still provide more value than their being paid, it makes automating away their job more competitive. California tried this with a $20/hr minimum wage in fast food restaurants: the next time you go into a McDonalds, c…
And what's the point of a minimum wage of it doesn't provide a living? That's just letting private enterprise piggyback off the welfare system.
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This is how you tax small business owners. The vast majority of businesses are not owned by billionaires
Perhaps if we taxed the billionaires more we could subsidize increased wages for small business owners or even do something actually good like provide universal basic income so that they cannot be so easily exploited for wildly undervalued labor
Poorest workers are hit hardest by pretty much anything related to money.
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Immigration is a distraction. Trump is deporting fewer folks than Obama did [1], he’s just doing it while pumping tens of billions to his buddies via ICE contracts.
Tariffs are a regressive tax. If food and metal is more expensive, service and manufacturing workers will be pinches.
[1] https://www.cbsnews.com/news/ice-deportations-trump-six-mont...