Random Thoughts

[ua_guy]

Ah yes, the class of temporarily inconvenienced billionaires who solidify the abysmal numbers around median incomes and low means in this country. It's always everyone else's fault why they can't rise to wealth: The government, a political party, taxes, immigrants, anyone who doesn't believe what they do.

[myrdale]

Millions of people vote in a way that is absolutely against their best interests.

There are only two candidates in an election. If millions of people vote in a "way that is absolutely against their best interest", I don't see how else to read your comment other than criticism of anyone who didn't vote for your candidate. How can you assume what is in someone's best interest? How can you assume what their values and beliefs are?

[ua_guy]

To point to current events this week, I'd actually wager to say the myriad local and state elections are actually more important than the predominantly two-choice presidential election. Our representatives in the federal government and state officials have a bigger impact on things like worker's rights, business law, taxes, healthcare, and voting equity. There are often many candidates from many different walks of life.

[disneysteve]

There are only two candidates in an election.

That’s not true. I just filled out my NJ ballot and there were multiple candidates for several positions. For school board alone there are 7 and we can vote for 3 of them. I spent some time a few nights ago reading all their bios and Facebook posts to decide who to vote for. The bios were quite worthless but the Facebook posts were very revealing of what they actually stand for.

Even in national elections, there may be one D and one R candidate but there are always others, too. Plus in the primaries leading up to that there were multiple people.

[QuarterMillionMan]

In California governor Gavin Newson signed laws making minimum wages for fast food workers $20/hr and for health care workers $25 an hour. We all complain about high inflation and actions like this keep adding to it.

[disneysteve]

In California governor Gavin Newson signed laws making minimum wages for fast food workers $20/hr and for health care workers $25 an hour. We all complain about high inflation and actions like this keep adding to it.

https://www.investopedia.com/ask/answers/052815/does-raising-minimum-wage-increase-inflation.asp

Here is a very good and balanced article discussing whether or not what you said is true. It’s not as simple as many people think.

[ua_guy]

In California governor Gavin Newson signed laws making minimum wages for fast food workers $20/hr and for health care workers $25 an hour. We all complain about high inflation and actions like this keep adding to it.

Alternately, you have companies like GM, Ford, Stellantis who have raised their prices precipitously, and there's no shortage of angst regarding how much a new car costs these days. Meanwhile, these companies have increased their profits by as much as 20% in the last year alone. Their workers haven't received a raise in 4 years, and concessions workers made in their contracts during the pandemic years to help their parent companies' bottom line were never returned to them. Now they are being shamed for asking for higher wages.

We have a minimum wage in this country for many reasons. We also have a ridiculous double standard where a lot of people point to minimally paid workers and say they make too much. But when asked about a jet-setting CEO making $20 Million per year, nobody should tell him what he gets to make. Really, it goes back to my quip about our country full of temporarily inconvenienced billionaires, i.e. the jaded poor working class which keeps shooting itself in the foot.

[QuarterMillionMan]

Different set of circumstances. I'm all for the autoworkers and their union representing them fighting for higher wages. Gavin Newsom signing into law manipulating the minimum $20/hr for fast food workers and $25/hr for health care workers will artificially inflate prices at McDonalds or the services of a CNA or LVN. Market forces should dictate the wages, not big government setting artificial prices which will lead to more inflation.

[ua_guy]

Different set of circumstances. I'm all for the autoworkers and their union representing them fighting for higher wages. Gavin Newsom signing into law manipulating the minimum $20/hr for fast food workers and $25/hr for health care workers will artificially inflate prices at McDonalds or the services of a CNA or LVN. Market forces should dictate the wages, not big government setting artificial prices which will lead to more inflation.

When you look at the minimum wage as a force which prevents indentured servitude in this country, it starts to make more sense than arbitrary inflation. Mr. Newsom was fairly elected and represents a majority of people in California, people who wanted to increase the minimum wage for their own political and ideological reasons.

[Fishindude77]

Mr. Newsom was fairly elected and represents a majority of people in California, people who wanted to increase the minimum wage for their own political and ideological reasons.

Yep .... people voting with their pocketbooks in mind.
Vote for the guy that promises the most for me. Precisely why student loan pay-off continues to be such a popular topic.

[ua_guy]

Makes sense to me. When you look at the states with the highest average and median incomes, highest per-capita state GDP's, largest state economies, they all tend to reliably vote a certain way. There's some pretty shocking data around life expectancy, too.

[srblanco7]

Referencing a 2022 report from the Pew Research Center comparing 1971 and 2021
1. the middle class continues to shrink (61% to 50%) with lower income increasing from 25% to 29% and upper income increasing from 14% to 21%.
2. the median middle class income increased 50% in that period. lower income increased 45% and 69% for the upper income bracket

So there's evidence of a trend toward the barbelling of outcomes for the US economy (less in the middle, more at the extremes) - though I'd view it as positive news that the upper income bracket is increasing more quickly than the lower income bracket.

I respect that people have different values that may drive their decision making - whether that's voting or charitable distributions or how they choose to manage their money (e.g., ESG funds). I am concerned that as a nation we seem less focused on "problem solving" and more on "the politics of fear" (political extremism, bad-news always on center stage, etc).

We've shifted in politics from "opponent" to "enemy" and I think this has (unfortunately) translated more broadly (i.e., societally) to a lack of respectful disagreement and constructive dialogue into name calling, grandstanding, and "us" vs "them" - in many cases without rational thought.

[ua_guy]

I'm inclined to agree with srblanco7, except for one thing. There are actually 3 sides. Two provide balance, and within that I include perspectives not affiliated with either of those sides, but which provide rational thought and problem solving to the discussions at hand. The third "side" is intent to destroy both. We saw exactly that, recently, with financial matters of our US Government. There is no opposite equivalent, and that needs to be called out.

[disneysteve]

One big problem is that many people have forgotten the difference between fact and opinion. People think their personal feelings and beliefs carry just as much weight (or more) as actual data and scientific proof. That’s a recipe for chaos, and here we are.

[bjl584]

I read an interesting article stating that the middle class is an anomaly that was largely created by the economic boom that occurred after WWII.
It further went on to say that wealth will naturally concentrate under Capitalism, therefore, there are winners and losers. No one "should" be left in the middle.
If i find the article I'll post the link.