$25,000 vs. $25,000,000 per year

[pbm]

Wasted my time skimming over this garbage, shouldn't even be allowed in here.
Work hard if you're not making it.
Keep your hands out of my pocket and stop promoting turning the USA into a socialist or communist country. Yeah right history is on my side. On top of it its being posted from a member in a more socialist country then ours.
Sick of this garbage and surprised this thread is here.

I agree with you except that I do believe that CEO types....are overpaid which drives costs up for everybody.

A few years ago I read that the average person on "the Board of Directors" of large companies are paid an average of $250K (and I'm sure it's more than $250K per Board now) for attending about 4 (often ZOOM) meetings a year. Many of these people sit on several 'Boards' and are often pocketing over a million dollars a year above and beyond their 'regular' gig.

I also read that in the 1950s the average CEO made X times more than the average employee....and now makes 10X to 100X times more
than the average employee. This leads to 'wealth inequality' which of course leads to ENVY...which of course leads to the type of people being elected to public office now (pushing 'socialist policies based on entitlement) all the while being in bed with those rich elitists.

The sad part is that these 'divide and conquer' tactics used by our pols are usually pitting the poor against the working class while giving the uber wealthy elites a pass because that's who fund their campaigns.

 

[SC Maintenance]

my point is really whenever we try to "do something", the problem gets worse.

Depends on what "do something" means.

We could start by not incentivizing companies to move off-shore by having ridiculous regulations.

High schools are scored by how many kids that go to college. That is driven all the way up to the federal department of education.

Our district built a bunch of "early college" campuses in conjunction with the local community college, where we teach carpentry and baking and beautician's. So when they graduate we can claim the hair dresser went to college.

Would be easier to simply disband the federal department of education, but we here in our little county can't affect that. So we "do something".

 

[Mechanician]

With over population, and climate issues, things are not getting better anytime soon.
Everyone is offered a free education(through high school), so many don't really take advantage of it.
That old movie Soylent Green sure rings true in many weird ways.

 

[ATex7239]

I missed the part of video proposing socialism or advocating taking money out of people’s pockets.

He illustrated how expensive life (housing, health care, food, transportation, etc) can be making it hard for lower earners to survive compared to higher earners.

Maybe you take the comments about how expensive healthcare is as that. But was he wrong? Healthcare is very expensive without employer (or government) sponsorship.

Maybe you take the comments about tax rates as that. But legal tax shelters do exist and are for the most part exclusive to top earners without once again employer sponsorship.

If someone simply pointing out the lifestyle differences between the poor, middle-class, and rich bothers you or makes you uncomfortable maybe that’s your problem not theirs. Maybe you’re too delicate or pampered.

 

[KrisZ]

Having social programs and being a socialist country are two and totally different things. Are we really this illiterate to equate the two?

I lived in the worst kind of socialism, the good old Soviet communism, some of you truly don’t know what you’re asking for. If we keep up this nonsense we’ll get what people are wishing for and it will not be fun. You can bet on that.

 

[Fa24wrx]

Having social programs and being a socialist country are two and totally different things. Are we really this illiterate to equate the two?

I lived in the worst kind of socialism, the good old Soviet communism, some of you truly don’t know what you’re asking for. If we keep up this nonsense we’ll get what people are wishing for and it will not be fun. You can bet on that.

You're equating having social programs to becoming Soviet Russia. But we're illiterate

 

[KrisZ]

You're equating having social programs to becoming Soviet Russia. But we're illiterate

 

[Fa24wrx]

View attachment 234193

No, I get your point. It's just not a good one.

 

[IndyIan]

I think around 1980 or so we started letting the those with the gold, make more of the rules... And no surprise, they try to set things up so they get even more gold without much regard for the people that actually make daily life work.

I think the scary thing is that with the off-shoring of manufacturing jobs/knowledge, is that there is actually less real wealth (food/shelter/healthcare/transportation) available to lower income folks. The trickery of the financial markets growing at 6-7-8% or at a pace faster than incomes, leads to average incomes that can't afford real things that matter, like housing/food/healthcare/cars.

 

[Tom NJ]

In before the close!

 

[2strokeNorthstar]

Wasted my time skimming over this garbage, shouldn't even be allowed in here.
Work hard if you're not making it.
Keep your hands out of my pocket and stop promoting turning the USA into a socialist or communist country. Yeah right history is on my side. On top of it its being posted from a member in a more socialist country then ours.
Sick of this garbage and surprised this thread is here.

Working hard is no longer the solution to poverty. Plenty of hard workers putting in a ton of hours are broke.

 

[KrisZ]

Working hard is no longer the solution to poverty. Plenty of hard workers putting in a ton of hours are broke.

Nah, I’m having a hard time believing this. If one is putting a ton of hours (that would mean 60+, not just 40) at work and is still broke, the problem is likely not with their income but spending habits.

 

[SC Maintenance]

I agree broke vs just not doing great is likely poor management for those working hard.

Still, with homes running 5X household income vs the long term average of 3X, you can't really work your way out of that.

What I see on individual basis is people are not voting with their feet. If its too expensive to live in San Jose / Seattle / Atlanta - then move to Des Moins / Kansas City / Birmingham. Seems no one wants to do that.

 

[Jimmy_Russells]

Nah, I’m having a hard time believing this. If one is putting a ton of hours (that would mean 60+, not just 40) at work and is still broke, the problem is likely not with their income but spending habits.

lol

Average home in the 60's/70's was what... 2-3 times someone's income? People could support a family on one income. Now it's more like 10x, or more, depending on market, and two incomes aren't enough most of the time.

The gap between cost of living and wages has expanded immensely, and continues to, and on top of it there are also fewer jobs and more people competing for those jobs.

 

[ATex7239]

Nah, I’m having a hard time believing this. If one is putting a ton of hours (that would mean 60+, not just 40) at work and is still broke, the problem is likely not with their income but spending habits.

Trading your (labor) time for money at a one-to-one ratio may lead to not being in poverty. But it won’t build wealth. There are only so many hours in the day. Building wealth requires your money making you money or other people’s labor making you money. You cannot out work someone who has ten people working for them. This is something he touched on in the video but didn’t go into too much. Truly being wealthy is the ability to generate money that you yourself actually didn’t “work” for so to speak. Wealthy people understand this, but poor people usually don’t. Or at least if they do don’t have the resources to achieve.

 

[KrisZ]

lol

Average home in the 60's/70's was what... 2-3 times someone's income? People could support a family on one income. Now it's more like 10x, or more, depending on market, and two incomes aren't enough most of the time.

The gap between cost of living and wages has expanded immensely, and continues to, and on top of it there are also fewer jobs and more people competing for those jobs.

I don’t understand what’s funny with my previous statement. It had nothing to do with home ownership. Which by the way fluctuated between 60% and 70% between 1960 to present. I think the peak was in early 2000s. We are sitting around 65% in 2024.

Plenty of people historically never owned a home.

 

[alarmguy]

In before the close!

I cant believe its still open!

 

[Jimmy_Russells]

I don’t understand what’s funny with my previous statement. It had nothing to do with home ownership. Which by the way fluctuated between 60% and 70% between 1960 to present. I think the peak was in early 2000s. We are sitting around 65% in 2024.

Plenty of people historically never owned a home.

Just that working more doesn't mean you're going to get ahead, or that you can't save. Life is just that expensive now. What kind of a life is working 60+ hours a week anyway?

The whole "go to college, get a good job, save up, buy a house/car, have a family etc" social contract is no longer valid.

 

[Pablo]

I don’t understand what’s funny with my previous statement. It had nothing to do with home ownership. Which by the way fluctuated between 60% and 70% between 1960 to present. I think the peak was in early 2000s. We are sitting around 65% in 2024.

Plenty of people historically never owned a home.

Came here to say this!

Money quotes. You know like sum the whole tater sammie up:

Depends on what "do something" means.

We could start by not incentivizing companies to move off-shore by having ridiculous regulations.

Nobody thinks any of the stuff you said is how it works.

 

[alarmguy]

I don’t understand what’s funny with my previous statement. It had nothing to do with home ownership. Which by the way fluctuated between 60% and 70% between 1960 to present. I think the peak was in early 2000s. We are sitting around 65% in 2024.

Plenty of people historically never owned a home.

EXACTLY Homeownership is statistically unchanged for the last 60+ YEARS (with its minor peaks and valleys) but for some reason people do not know how easy life is in the USA because the modern home has MANY luxuries that those in the 50s, 60s and 70s and maybe 80s could never have afforded.

The ones that complain always have the loudest outsized voice because the people not complaining are enjoying life instead of whining.

Here is a great read, ohhhh life is so hard in the USA = NOT
https://www.census.gov/library/stor...seholders-drove-rebound-in-homeownership.html

"The U.S. homeownership rate in 2022 was even higher than before the COVID-19 pandemic — 65.8% compared to 64.6% in 2019 — a rebound driven largely by those age 44 and younger, according to the Census Bureau’s Current Population Survey/Housing Vacancy Survey"