Bidenomics
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Among [millennials with 401(k) accounts], the number of 401(k) accounts with a balance of $1 million or more rose to about 10,000 as of Sept. 30, up from around 2,000 in the third quarter of 2023, according to Fidelity, ...
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@Jolly said in Bidenomics:
Yep, income inequality, as the poor get poorer.
I assume you know that income inequality in democracies is the harbinger of revolution and/or a descending into dictatorship?
That’s not actually the case. It didn’t really come at the expense of the poor. It was mostly stock market driven and the market is thriving because of the number of the middle class moving into the upper class, not the number moving downward.
And again, trying to relate it to populist revolutions in the past is a little ridiculous. The “poor” are generally in housing with hvac, have access to transportation, often own a vehicle, have 1-2 televisions, a computer, and aren’t in danger of starvation. That’s not to say that it doesn’t suck. Speaking from experience, it sucks tremendously, and can be extraordinarily hard to break out of those things keeping you down. But what is keeping them down are personal decisions as much as external factors. Chemical dependencies, single parenthood, hand outs vs hand ups, and an education system that sells them a lie that the choices are a college degree that they can never afford or achieve or living a life in poverty.
You want to limit poverty? Limit the handouts. They can have Pell grants (in fact, increase the number of them), but the first two years HAVE to be at a Community College or Trade School. Have the school systems and counselors really promote what a trade can mean instead of a college degree. Show these kids that there are opportunities that are achievable. Also, go back to promoting family values in the schools and in entertainment.
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@Jolly said in Bidenomics:
as the poor get poorer.
The poor have not gotten poorer. Actual inflation-adjusted income over the last 20 years in the bottom quartile has risen about 17%.
It's not a zero-sum thing - someone should tell that to (three-house owning) Bernie (P)Sanders.
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98% of the population was poor in the French Revolution. Today, it’s 27-29% in the US depending on your sources. In France, it was only 2% that belonged to the wealthy. In the US today, it’s 21-24%. And again, the definition of poor is vastly different. @Jolly knows all of this and has stated as such before. I think he’s just not wanting to find anything positive until January 20th.
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Always remember, Operation Valkyrie was an act of sedition.
Warning: I post things that interest me. Read and comment at your own discretion. -
@Jolly said in Bidenomics:
Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
For the poor? None. It’s called being poor. They generally don’t get credit cards…
Me/rry/Christmas
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@LuFins-Dad said in Bidenomics:
@Jolly said in Bidenomics:
Ok, for all of those luxuries the poor enjoy, how much is paid for with borrowed money?
For the poor? None. It’s called being poor. They generally don’t get credit cards…
That money comes from Uncle Sam. Last time I looked, Uncle Sam sure did borrow a lot of money...
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Way to move the goalposts…It’s okay to say that things went downhill drastically over the last 4 years, but there were some positives…
