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Growth on Wall Street isn't growth on main street, and huge corporate and big investor profits (and associated cash hordes) haven't meant economic recovery in t
by danans 7y ago
Growth on Wall Street isn't growth on main street, and huge corporate and big investor profits (and associated cash hordes) haven't meant economic recovery in the places and communities hardest hit by the opioid epidemic.
- refurb 7y agoGrowth on Wall Street isn't growth on main street Of course it is. Where do you think main streets pensions and 401k are invested? Where do you think main street people work?
- tezzer 7y agoOnly a third of Americans -have- a 401k, and only 13% have pensions.
- maximente 7y agomost equity is held by the richest americans, while others primarily depend on wages which haven't risen in decades, basically. also most people aren't employed by large business. https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us... https://www.huffpost.com/entry/five-big-myths-about-amer_b_866118 https://www.huffpost.com/entry/five-big-myths-about-amer_b_8...
- refurb 7y agoWages are only one part of compensation. Total compensation has increased faster than inflation over the past decades.
- fucking_tragedy 7y agoHealth insurance costs have increased faster than inflation for decades and is responsible for the total increase in compensation[1]. Workers are not getting more or better benefits. They're getting the same or worse benefits, it's just that health insurance costs for the same plans increase each year at a rate that vastly outpaces inflation. [1] https://si.wsj.net/public/resources/images/BF-AU065A_INSUR_9U_20170919122105.jpg https://si.wsj.net/public/resources/images/BF-AU065A_INSUR_9...
- refurb 7y agoThat's true, but it also contradicts the claim that compensation isn't going up. Sure it's going towards ever more expensive healthcare, but it is going up.
- deleted 7y ago[deleted]
- maximente 7y agoyou seem to have both shifted the frame from wages to compensation then defeated a non-existent claim about it, so that seems like a mighty straw man.