Americans Getting Poorer

[picolo]

Steps to make Americans get more wealthy

1. Raise minimum wage + all other salaries to deal with inflation
2. Stop letting illegal immigrants work for less than minimum wage
3. Lower the cost for college
4. Stop letting people from other countries come live here for free and go to college for free

These are all statist methods to further distort a market.

It is unlikely any of these would make "Americans" richer.
A more authoritarian country with a planned economy that is centrally controlled might try it though.

1-To have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
2-Illegal immigrants need to work and the State is already fighting the illegal work.
3-College costs is high because the government is subsidizing it with student debt laws and scholarships. Getting a 40,000$ Art Degree doesn't increase your skills much and should not be paid by the tax payer.
4-America was built on letting people come here but they didn't get anything for free and no minimum wage. Regulations were small and taxes were not a big enough burden to stop the economical growth, the USA needs to stop pouring good money after bad on poor that would be better off working for less than the minimum wage learning skills.

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[picolo]

You don't need to inflate and you don't even need to increase taxes (though that would make things more effective and would boost the economy higher). Currently we're already spending this amount of money on our citizens through hidden costs that arise from a bloated bureaucracy and externalities arising from people not being able to directly sustain themselves.

You can fund an UBI on it's own efficiency.

You will always get back less than 100 when 100 are taken out by taxes.

"taxes are for school and roads" when they are for bureaucratic spending, military and subsidies that increase prices

[NewLiberty]

You don't need to inflate and you don't even need to increase taxes (though that would make things more effective and would boost the economy higher). Currently we're already spending this amount of money on our citizens through hidden costs that arise from a bloated bureaucracy and externalities arising from people not being able to directly sustain themselves.

You can fund an UBI on it's own efficiency.

Exactly what efficiency do you imagine you are creating by spinning up this new grand global governmental program that tracks everyone so that it can "pay" them to be poor?

There exist X number of monetary units.  You either increase X by expanding the ledger, or you take X them from someone else (typically by force of law).

I don't think that the people that shill this idea even know what money is.

[Daniel91]

Steps to make Americans get more wealthy

1. Raise minimum wage + all other salaries to deal with inflation
2. Stop letting illegal immigrants work for less than minimum wage
3. Lower the cost for college
4. Stop letting people from other countries come live here for free and go to college for free

These are all statist methods to further distort a market.

It is unlikely any of these would make "Americans" richer.
A more authoritarian country with a planned economy that is centrally controlled might try it though.

1-To have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
2-Illegal immigrants need to work and the State is already fighting the illegal work.
3-College costs is high because the government is subsidizing it with student debt laws and scholarships. Getting a 40,000$ Art Degree doesn't increase your skills much and should not be paid by the tax payer.
4-America was built on letting people come here but they didn't get anything for free and no minimum wage. Regulations were small and taxes were not a big enough burden to stop the economical growth, the USA needs to stop pouring good money after bad on poor that would be better off working for less than the minimum wage learning skills.

Very good points.
I would like just this.
I don't think that in order to have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
In this case, this people will never have chance in society, to advance, learn new skils etc.
Government should provide free education for them and help them to find better jobs...
Government should also help economy to develop, so that many new jobs can be opened.

[NewLiberty]

Steps to make Americans get more wealthy

1. Raise minimum wage + all other salaries to deal with inflation
2. Stop letting illegal immigrants work for less than minimum wage
3. Lower the cost for college
4. Stop letting people from other countries come live here for free and go to college for free

These are all statist methods to further distort a market.

It is unlikely any of these would make "Americans" richer.
A more authoritarian country with a planned economy that is centrally controlled might try it though.

1-To have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
2-Illegal immigrants need to work and the State is already fighting the illegal work.
3-College costs is high because the government is subsidizing it with student debt laws and scholarships. Getting a 40,000$ Art Degree doesn't increase your skills much and should not be paid by the tax payer.
4-America was built on letting people come here but they didn't get anything for free and no minimum wage. Regulations were small and taxes were not a big enough burden to stop the economical growth, the USA needs to stop pouring good money after bad on poor that would be better off working for less than the minimum wage learning skills.

Very good points.
I would like just this.
I don't think that in order to have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
In this case, this people will never have chance in society, to advance, learn new skils etc.
Government should provide free education for them and help them to find better jobs...
Government should also help economy to develop, so that many new jobs can be opened.

The government doesn't have free education to provide.  
Governments also do not have any ability to help economies to develop.  Government is the brake pedal on economic development to make sure it doesn't grow too much.  This is fundamental to the definition of government.  It can not add anything that it has not taken away from elsewhere, and there is a cost in this taking and giving operation so there is always less left over.

The communist manifest seems to agree with your plan though.  Your #10 is very important.  Free mandatory government education is certainly the best way to increase government propaganda.

1) Abolition of property in land and application of all rents of land to public purposes.
2) A heavy progressive or graduated income tax.
3) Abolition of all right of inheritance.
4) Confiscation of the property of all emigrants and rebels.
5) Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.
6) Centralisation of the means of communication and transport in the hands of the State.
7) Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8) Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.
9) Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equitable distribution of the population over the country.
10) Free education for all children in public schools. Abolition of children's factory labour in its present form and combination of education with industrial production.


People that say "government should...."  should find a way to do these things themselves rather than putting the requirement on everyone else.

[leex1528]

1-To have less unemployment you need to lower the minimum wage so low skilled can have a job and start a career.
2-Illegal immigrants need to work and the State is already fighting the illegal work.
3-College costs is high because the government is subsidizing it with student debt laws and scholarships. Getting a 40,000$ Art Degree doesn't increase your skills much and should not be paid by the tax payer.
4-America was built on letting people come here but they didn't get anything for free and no minimum wage. Regulations were small and taxes were not a big enough burden to stop the economical growth, the USA needs to stop pouring good money after bad on poor that would be better off working for less than the minimum wage learning skills.

1-No, its pretty much already proven that raising the minimum wage fixes the wealth issue.
2-Why do Illegal immigrants need to work?  They should probably be deported and get here legally.
3-College cost is high because the University can get away with it, they are abusing the system.  The problem is you NEED to get a college degree in order to compete with a lot of jobs, and the cost is way to insane.
4-Of course America was built by other people coming here.  My problem with this is they are letting all these people come here and go to College for 100% free, as a matter of fact they are getting paid to come here and take courses, in which case they either get the high paying jobs here, or they go back to their own country with their own degree from a college here.

[Decentradical]

4-America was built on letting people come here but they didn't get anything for free and no minimum wage. Regulations were small and taxes were not a big enough burden to stop the economical growth, the USA needs to stop pouring good money after bad on poor that would be better off working for less than the minimum wage learning skills.

This would be an amazing point as long as jobs were tied economic growth.

But they're not.

Our productivity is rising, but our median income is not.

People aren't lazy, they're just obsolete.

http://andrewmcafee.org/2012/12/the-great-decoupling-of-the-us-economy/

And this disparity is only going to continue.

The choice is to either let them rot and die, which means a failed state.

OR

Let an army of bureaucrats cater to all the problems that arise from this poverty

OR

Cut the middlemen, give these people the means to be a participating consumer again and let them sort their own lives out.

[cryptocoiner]

All the world getting poorer. But average american still can be considered "rich" in the rest of the world.

[sickhouse]

All the world getting poorer. But average american still can be considered "rich" in the rest of the world.

As long as the federal reserve keeps feeding it money yeah. When it's debt paying time what are going to happen to the great USA, and the rest of the western society?? Also have you looked at Chineese government lately?

[malaimult]

All the world getting poorer. But average american still can be considered "rich" in the rest of the world.

This is very true. Even what would be considered modest living arrangement in the US would be often considered to be extraordinary in most of the world.

[oprahwindfury]

What's even more perplexing is that traditional "rich states" in the U.S. and the poor demographic vote for the Democrats while the "poor states" and the rich vote overwhelmingly Republican. The rich white Southerners are amongst the most conservative in the nation, casting their vote on anything that will protect their financial interests. Northerners generally vote split 50/50 between democrats and republicans.

[cryptocoiner]

All the world getting poorer. But average american still can be considered "rich" in the rest of the world.

As long as the federal reserve keeps feeding it money yeah. When it's debt paying time what are going to happen to the great USA, and the rest of the western society?? Also have you looked at Chineese government lately?

WW3 will happen. And America with the western world will gain all the profit again. Same like with WW2.

And what about chineese goverment?

[sickhouse]

All the world getting poorer. But average american still can be considered "rich" in the rest of the world.

As long as the federal reserve keeps feeding it money yeah. When it's debt paying time what are going to happen to the great USA, and the rest of the western society?? Also have you looked at Chineese government lately?

WW3 will happen. And America with the western world will gain all the profit again. Same like with WW2.

And what about chineese goverment?

WW3 will ruin things way worse than WW2 did. Playing the WW card is too risky, and US will propably end up losing.

What I mean with the Chineese government is look at the way they have handled their economy (most western countries has industries there) - read new super power.

[krisssssy01]

Problem is, poor people in the US still are way better than middle class elsewhere.

Middle class in US is not always better off than elsewhere. Consider Dubai and Qatar.

I guess his referring to the Asian countries/3rd world countries who doesn't have benefits/subsidise from their government..Look a Phil's for example inflation rose to it's 5past yes high...yet the gorvenment are deaf/blind what going on...just build build build..lol

[criza]

Whether the Americans are getting poorer, still a typical American households' income, properties, and assets are way too stable and better than any other countries; also, they are still considered to be one of the riches countries due to the high average wealth of American households. Even though they are really getting poorer, they will still rise and bounce back even richer. They still have the capacity to grow their money more, unlike any other households in other parts of the world. I do not have great knowledge about the economy. However, I have an eye to ibserve and mind to think. And as far as I know, there will times that the economy will decrease and will increase. Yet, what makes the difference is how far those increase and decrease are.

[MiningDog]

I must say that this isn't very surprising. It seems like so many things are designed to make the rich get richer. If the rich are getting richer, it typically means the poor are getting poorer. There are so many times when it's actually cheaper to have more money. When you look at banking, that's definitely the case. The more money you have the less fees you pay. You can get an account with unlimited transactions and free checks, while the person with less money is paying for every transaction and their checks. Bigger accounts even get better exchange rates. If you can pay for things upfront you get huge discounts. Depending on what field you're in, you may very well get may other things for free, like travel paid for and accommodations.

[Merritt_Baldric]

The middle class is actually what every country needs to be developed. Yet, we see today that the middle class is suffering. This situation is not only in the USA. In Europe, the economic power of the middle class is decreasing as well. Nobody talks about it but it is a fact. The only difference with the US is that in Europe, they still can have affordable education. People can still send their children to college or universities with decent money. In America, it is nearly impossible. Same situation for healthcare and other vital sectors.

[Bdking]

If the trade war is continuing,,,this problem will be increase day by day.

[MiningDog]

I must say that this isn't very surprising. It seems like so many things are designed to make the rich get richer. If the rich are getting richer, it typically means the poor are getting poorer. There are so many times when it's actually cheaper to have more money. When you look at banking, that's definitely the case. The more money you have the less fees you pay. You can get an account with unlimited transactions and free checks, while the person with less money is paying for every transaction and their checks. Bigger accounts even get better exchange rates. If you can pay for things upfront you get huge discounts. Depending on what field you're in, you may very well get may other things for free, like travel paid for and accommodations.

That is bullshit.  If you invest in the same stocks as the rich guy, you will be richer by the same percentage.

The system does not discriminate.  Your money is as good as the rich man's money.
If the stock market starts tanking, you can sell futures or buy puts (like the rich guys) and make a killing.  Load the truck near the bottom using margin, sell half later and let the rest make you richer...

Anyone who can open a bank account can open a brokerage account.

You can invest with as little as few thousands of dollars.  Who is stopping the poor people?  They are.

Fees?  That is the smallest variable, get your head out of the socialist sand.

Live below your means, spend less than you make, and over time you'll be financially independent.

Saving and investing is the only way.

BTW, being "rich' is relative.  You can be "financially independent" with as little as 500K.  It all depends how much you spend.

I definitely agree with you on a lot of points. I know that you don't actually need a lot of money to be rich by some definitions. I just find that expenses for the same things can be less when you have more money. If you buy things in bulk, for example, you can pay much less for them. That's the same for some things when you prepay them in advance. It's the same for a mortgage, for example. If you have more money to put down, then you will pay less interest. If you have less money, you pay more. I definitely agree that anybody can get out of poverty, but there are some factors that make it more difficult.

[KingScorpio]

The Typical Household, Now Worth a Third Less

Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

The Russell Sage study also examined net worth at the 95th percentile. (For households at that level, 94 percent of the population had less wealth and 4 percent had more.) It found that for this well-do-do slice of the population, household net worth increased 14 percent over the same 10 years. Other research, by economists like Edward Wolff at New York University, has shown even greater gains in wealth for the richest 1 percent of households.

More...http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html
Typical class warfare lingo but yeah, things are trending down here in the home of the brave. Anecdotally, I know plenty of people living paycheck to paycheck while I stack coins for the future.

pah thats nothing compared what they didnt experienced yet!!

in the idiocracy of america http://time.com/4327424/idiocracy/

times will get much worse, i expect same wild west like before european colonisation,

i heard brawndo the thirst mutilator will become americas new coca cola.