I am a boomer and I am totally with you on this. In fact, I have telling people about this since the Savings and loan bailouts back in the '80's and '90's.
Thank you for that. It's rough out here and it often feels like we did this to ourselves. I'm constantly beating myself up for our life choices. However, there is NOTHING we did to cause the stupid inflation or the rising cost of cars and electricity and insurance and food. Ugh.
Income inequality is the share of economic growth over the last 40 years that has benefited the top 5% of the population vs the bottom 95%. This has resulted in nearly no real increase in income after adjusted for inflation for the bottom 95%. Secondly, the strong influence that business has over government, especially the Federal government, can be traced directly to a Supreme Court ruling that removed the limit corporations could spend on elections. And finally, I am not sure what your criticism of the Federal Reserve is. Please explain.
The Federal Reserve is a PRIVATE bank that controls our money outside of the govt. They print money like it's nothing to help their friends in banking. Qualitative easing is what they call it. I call it theft through inflation. And that influence started way before that supreme court ruling. Try looking at lobbyists and the regulations that are created when a large company lobbies the govt for rules that only benefit them. Income inequality is a troupe created by socialists. The issue is our inflated govt and the giant corporations and globalists that like it that way. Yes, things are unequal. If the govt stopped taking my money and giving it away by the trillions, I would be much less angry. If you want to GIVE your money to a foreign nation, by all means, do it. I do not. And again, at the end of the day, who caused all of this? NOT ME!!! Look at your generation, take a long hard look.
The Federal Reserve is not a private bank. It is an independent arm of the Federal government. With regard to your assertions, the Department of Commerce has a lot of data on the economy which I suggest you study.
Read The Creature from Jekyll Island. It's a private bank. We are not going to agree on anything here. Generational and ideological gap. Have a good day.
Creature from Jekyll Island was written by G. Edward Griffin. He is a conspiracy theorist. The book Creature from Jekyll Island advances debunked conspiracy theories about the Federal Reserve System.
Isn’t it odd how, more and more often, yesterday’s conspiracy theories turn out to be tomorrow’s news articles? e.g. Oswald and the CIA, lab leak, Hunter’s laptop, safe and effective, “Biden is sharp as a tack.”
False. If you have $1.17 million in net worth you are in the top 5%. I'm pretty sure your property alone gets you 3/4 of the way there. Your family has an ice cream named after them at Deja Moo. You are part of the problem that younger generations are complaining about. But please, lecture me more about how billionaires are the problem.
The property you think puts me in the 5% is what is left of an old farm that has been in my family for four generations. The county's estimate of value is too high because the property is too rough for much development.
I do not understand why you think my generation is your enemy instead of low-income, which in part results from the following items:
• Low minimum wages – The minimum wage should be $15 to $20 per hour just to keep pace with inflation. The claim that raising the minimum wage would increase unemployment is false. Several states and cities have raised their minimum wage, and it has not caused an increase in unemployment. Low wages are just legalized slavery.
• Low union membership – States such as Tennessee have passed so-called right-to-work laws, which are simply anti-union legislation. Tennessee did so to attract companies from states with high union membership. The average wages in states with high union membership are 20% higher than in states with low union membership. Historically, unions have had some problems and have supported positions that did not make sense economically. However, workers are better off because of unions, since governments, both Federal and local, have not helped workers get better working conditions or higher pay.
• Low taxes for corporations and individuals with incomes over $1 million – The Federal tax cuts passed in the last 40 years have been sold on the assumption that lower taxes for corporations and wealthy individuals would cause economic expansion and more prosperity for everyone. This worked in the short term, but not in the long term. Just look at the 1950s. The corporate tax rate was 50% and for high-income individuals it was 70%. Yet we had strong economic growth and real wage growth (wages adjusted for inflation).
• Lack of help for displaced workers – The Federal government has done very little to help workers displaced by factories moving offshore, automation, etc. The displacements due to factories moving offshore are a direct result of Federal polices followed by both Republican and Democratic administrations. The American people are better off with lower prices due to foreign competition, but it is unfair for the workers in the industries affected to bear all the costs of the lower prices. Accordingly, the Federal government should be providing substantially more aid to displaced workers.
The above is just four examples of how government policies contribute to lower wages.
The so-called billionaires are not the problem per se, but their influence on the governments, both Federal and State, is too great. They have in effect bought these governmental units
You are in the top 5% because you sold the local storage facility that we used during our move, to a giant corporation and I've seen the property records, you are most definitely in the top 5%. We loved doing business with a local company while we were moving. When you sold, we were just another number and it was impossible to deal with anyone there. Thankfully, it put us in a bigger hurry to finish our garage and move our things.
*Low minimum wage- High minimum wage keeps teenagers out of the workforce. Minimum wage jobs were NOT meant to live on. And why not $100/hour? Where is the limit? Why not $250/hour? That would really make like good.
*Low union membership- In WA all grocery workers were union. I knew a 26 year old man pushing carts for $17/hour in 2007. In today's money, that would be $26/hour. I don't make that as a substitute with a BA and a masters degree. $26/hour is what a starting teacher makes in TN. Should you make $26/hour to push carts? How about the unions in NYC where the sound guys can't move an extension cord without the electricians? You can't fire these guys no matter how terrible a job they are doing.
*Low corporate taxes- I have never worked for a poor person. How about a flat tax? Lots of us have been asking for that for years, but both sides of the aisle seem to be against that.
*Lack of help for displaced workers- The federal govt displaced them!!!! They let illegals in, they let in H1B visas, they allow for migrant workers, and you should see what they have done to the trucking industry. Factories moved offshore because of our own regulation which the federal govt caused.
I'll give you another that has led to low wages.
INFLATION. Directly caused by the federal govt. Quantitative easing and the bailouts I listed in my article.
Now let's look at why I blame your generation.
The age breakdown of congress and the senate-
House
60s: ~115 members (about 26%).
70s: ~90 members (around 21%).
80s and above: ~35 members (about 8%).
Senate
60s: ~30 senators (approximately 30%, the largest group).
It is very hard for those of us not fortunate enough to have family land or no college debt to keep our anger in check. We are watching people who were out to save the world drown us in debt in favor of carbon emissions and expensive electricity and then tell us to cut out the lattes and work harder. I don't hate you sir, but I am damn angry at your generation. The very govt you are complaining about being bought by billionaires is the govt you and your friends built. Either by being part of it or by ignoring it. Some of us are SCREAMING for smaller govt, and your answer is no, just give the money to different people. We are not the same. The bible does command us to love our neighbor, it also commands us to care for our families and the orphans. Never once does it give that duty to the govt. I am supposed to CHOOSE to help the widow and the orphan out of love for God and my neighbor. However, the govt takes so much money from me to help their causes and who they deem the poor and downtrodden, that I am struggling to care for my own.
You really should start with Basic Economics by Thomas Sowell and a little Milton Freidman.
I started following your posts of the White House city meetings of planning and of the whole council meetings. They were informative.
Lately, your writings have moved from reporting the facts to preaching in which it appears that you are angry at the world. I am sorry that you feel that way. You nor I made the rules.
I think you need to study economic history. What you are wishing for was true prior to 1929. The results was the Great Depression which lasted until World War II. Some of us believe the present generational problem is linked to the income inequality that started with Ronald Regan. I can give many detail if you would like.
The problem is linked to corporations and govt being in bed together if that's what you mean by "income inequality," You should read The Creature from Jekyll Island. It started with the Federal Reserve. It seems to me you got the privilege of retiring. You grew up in a different time than myself and my children. Who exactly is responsible for that? I would guess you and your friends. Do not put the blame at the feet of the current president or the younger generations.
I am a boomer and I am totally with you on this. In fact, I have telling people about this since the Savings and loan bailouts back in the '80's and '90's.
Thank you for that. It's rough out here and it often feels like we did this to ourselves. I'm constantly beating myself up for our life choices. However, there is NOTHING we did to cause the stupid inflation or the rising cost of cars and electricity and insurance and food. Ugh.
Income inequality is the share of economic growth over the last 40 years that has benefited the top 5% of the population vs the bottom 95%. This has resulted in nearly no real increase in income after adjusted for inflation for the bottom 95%. Secondly, the strong influence that business has over government, especially the Federal government, can be traced directly to a Supreme Court ruling that removed the limit corporations could spend on elections. And finally, I am not sure what your criticism of the Federal Reserve is. Please explain.
The Federal Reserve is a PRIVATE bank that controls our money outside of the govt. They print money like it's nothing to help their friends in banking. Qualitative easing is what they call it. I call it theft through inflation. And that influence started way before that supreme court ruling. Try looking at lobbyists and the regulations that are created when a large company lobbies the govt for rules that only benefit them. Income inequality is a troupe created by socialists. The issue is our inflated govt and the giant corporations and globalists that like it that way. Yes, things are unequal. If the govt stopped taking my money and giving it away by the trillions, I would be much less angry. If you want to GIVE your money to a foreign nation, by all means, do it. I do not. And again, at the end of the day, who caused all of this? NOT ME!!! Look at your generation, take a long hard look.
The Federal Reserve is not a private bank. It is an independent arm of the Federal government. With regard to your assertions, the Department of Commerce has a lot of data on the economy which I suggest you study.
Read The Creature from Jekyll Island. It's a private bank. We are not going to agree on anything here. Generational and ideological gap. Have a good day.
Creature from Jekyll Island was written by G. Edward Griffin. He is a conspiracy theorist. The book Creature from Jekyll Island advances debunked conspiracy theories about the Federal Reserve System.
Once again, good day sir.
Isn’t it odd how, more and more often, yesterday’s conspiracy theories turn out to be tomorrow’s news articles? e.g. Oswald and the CIA, lab leak, Hunter’s laptop, safe and effective, “Biden is sharp as a tack.”
After viewing your FB profile it appears you are EXACTLY who this post is talking about. You ARE the top 5%.
Wrong. I am not in the top 5%.
False. If you have $1.17 million in net worth you are in the top 5%. I'm pretty sure your property alone gets you 3/4 of the way there. Your family has an ice cream named after them at Deja Moo. You are part of the problem that younger generations are complaining about. But please, lecture me more about how billionaires are the problem.
The property you think puts me in the 5% is what is left of an old farm that has been in my family for four generations. The county's estimate of value is too high because the property is too rough for much development.
I do not understand why you think my generation is your enemy instead of low-income, which in part results from the following items:
• Low minimum wages – The minimum wage should be $15 to $20 per hour just to keep pace with inflation. The claim that raising the minimum wage would increase unemployment is false. Several states and cities have raised their minimum wage, and it has not caused an increase in unemployment. Low wages are just legalized slavery.
• Low union membership – States such as Tennessee have passed so-called right-to-work laws, which are simply anti-union legislation. Tennessee did so to attract companies from states with high union membership. The average wages in states with high union membership are 20% higher than in states with low union membership. Historically, unions have had some problems and have supported positions that did not make sense economically. However, workers are better off because of unions, since governments, both Federal and local, have not helped workers get better working conditions or higher pay.
• Low taxes for corporations and individuals with incomes over $1 million – The Federal tax cuts passed in the last 40 years have been sold on the assumption that lower taxes for corporations and wealthy individuals would cause economic expansion and more prosperity for everyone. This worked in the short term, but not in the long term. Just look at the 1950s. The corporate tax rate was 50% and for high-income individuals it was 70%. Yet we had strong economic growth and real wage growth (wages adjusted for inflation).
• Lack of help for displaced workers – The Federal government has done very little to help workers displaced by factories moving offshore, automation, etc. The displacements due to factories moving offshore are a direct result of Federal polices followed by both Republican and Democratic administrations. The American people are better off with lower prices due to foreign competition, but it is unfair for the workers in the industries affected to bear all the costs of the lower prices. Accordingly, the Federal government should be providing substantially more aid to displaced workers.
The above is just four examples of how government policies contribute to lower wages.
The so-called billionaires are not the problem per se, but their influence on the governments, both Federal and State, is too great. They have in effect bought these governmental units
You are in the top 5% because you sold the local storage facility that we used during our move, to a giant corporation and I've seen the property records, you are most definitely in the top 5%. We loved doing business with a local company while we were moving. When you sold, we were just another number and it was impossible to deal with anyone there. Thankfully, it put us in a bigger hurry to finish our garage and move our things.
*Low minimum wage- High minimum wage keeps teenagers out of the workforce. Minimum wage jobs were NOT meant to live on. And why not $100/hour? Where is the limit? Why not $250/hour? That would really make like good.
*Low union membership- In WA all grocery workers were union. I knew a 26 year old man pushing carts for $17/hour in 2007. In today's money, that would be $26/hour. I don't make that as a substitute with a BA and a masters degree. $26/hour is what a starting teacher makes in TN. Should you make $26/hour to push carts? How about the unions in NYC where the sound guys can't move an extension cord without the electricians? You can't fire these guys no matter how terrible a job they are doing.
*Low corporate taxes- I have never worked for a poor person. How about a flat tax? Lots of us have been asking for that for years, but both sides of the aisle seem to be against that.
*Lack of help for displaced workers- The federal govt displaced them!!!! They let illegals in, they let in H1B visas, they allow for migrant workers, and you should see what they have done to the trucking industry. Factories moved offshore because of our own regulation which the federal govt caused.
I'll give you another that has led to low wages.
INFLATION. Directly caused by the federal govt. Quantitative easing and the bailouts I listed in my article.
Now let's look at why I blame your generation.
The age breakdown of congress and the senate-
House
60s: ~115 members (about 26%).
70s: ~90 members (around 21%).
80s and above: ~35 members (about 8%).
Senate
60s: ~30 senators (approximately 30%, the largest group).
70s: ~25 senators (around 25%).
80s and above: ~8 senators (about 8%).
Who has been making these rules and regulations for the last 25 years??? Not me and my cohort. We are just out here trying to survive. If you really want to read about why wages are down and what regulation has done to our country, start here. https://boriquagato.substack.com/p/the-enemy-of-us-industry?r=1fplnq&triedRedirect=true
It is very hard for those of us not fortunate enough to have family land or no college debt to keep our anger in check. We are watching people who were out to save the world drown us in debt in favor of carbon emissions and expensive electricity and then tell us to cut out the lattes and work harder. I don't hate you sir, but I am damn angry at your generation. The very govt you are complaining about being bought by billionaires is the govt you and your friends built. Either by being part of it or by ignoring it. Some of us are SCREAMING for smaller govt, and your answer is no, just give the money to different people. We are not the same. The bible does command us to love our neighbor, it also commands us to care for our families and the orphans. Never once does it give that duty to the govt. I am supposed to CHOOSE to help the widow and the orphan out of love for God and my neighbor. However, the govt takes so much money from me to help their causes and who they deem the poor and downtrodden, that I am struggling to care for my own.
You really should start with Basic Economics by Thomas Sowell and a little Milton Freidman.
I started following your posts of the White House city meetings of planning and of the whole council meetings. They were informative.
Lately, your writings have moved from reporting the facts to preaching in which it appears that you are angry at the world. I am sorry that you feel that way. You nor I made the rules.
I think you need to study economic history. What you are wishing for was true prior to 1929. The results was the Great Depression which lasted until World War II. Some of us believe the present generational problem is linked to the income inequality that started with Ronald Regan. I can give many detail if you would like.
John Marlin
The problem is linked to corporations and govt being in bed together if that's what you mean by "income inequality," You should read The Creature from Jekyll Island. It started with the Federal Reserve. It seems to me you got the privilege of retiring. You grew up in a different time than myself and my children. Who exactly is responsible for that? I would guess you and your friends. Do not put the blame at the feet of the current president or the younger generations.
OK boomer