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Until you compare your salary and expenses to that of someone who was working blue collar 40 years ago. My dad made enough to support a family of four as an ap

by geggam 7y ago

Until you compare your salary and expenses to that of someone who was working blue collar 40 years ago. My dad made enough to support a family of four as an appliance repair man. He got a new car every so often, built a shop and had a home mostly paid for and we went on vacations. Going to the doctor wasnt a big deal and no one worried about being bankrupt from a hospital stay/ I am supporting a family of four and we get by. My car is 18 years old with 260k miles on it and I am hoping to get another 3-4 years out of it so the kids finish college. (community college, I am not rich and cannot afford anything else). The family is one major medical incident away from bankruptcy and I have good insurance You tell me how good you have it and I will reply that is because you dont know how good it could be.

ClumsyPilot 7y ago
This is very true, most people i talk to do not realise labour's share of income has been declining for 50 years straight. Here is a link by no other than the IMF: https://blogs.imf.org/2017/04/12/drivers-of-declining-labor-share-of-income/ https://blogs.imf.org/2017/04/12/drivers-of-declining-labor-...
- geggam 7y ago
  I am not in blue collar :) I make 6 figures a year in IT and cant keep up with what he made fixing washers
  - free652 7y ago
    How can you be one medical emergency away? My max out of pocket is 7k, that covers pretty much any emergency. I already met this year and all procedures are free. My wife had a brain surgery few years ago and our insurance company paid around 150k and we paid max OOP and not a cent more.
    - geggam 7y ago
      Example : My brother recently fell off a roof and broke his back. Paralyzed now from the waist down. Can't work. Insurance is now gone because he cant work to pay premiums. That first year was great... insurance covered everything. Now... his long term care will end up being medicare disability which means he loses everything he owns.

by geggam 7y ago

ClumsyPilot 7y ago

This is very true, most people i talk to do not realise labour's share of income has been declining for 50 years straight. Here is a link by no other than the IMF: https://blogs.imf.org/2017/04/12/drivers-of-declining-labor-share-of-income/ https://blogs.imf.org/2017/04/12/drivers-of-declining-labor-...

geggam 7y ago
I am not in blue collar :) I make 6 figures a year in IT and cant keep up with what he made fixing washers
- free652 7y ago
  How can you be one medical emergency away? My max out of pocket is 7k, that covers pretty much any emergency. I already met this year and all procedures are free. My wife had a brain surgery few years ago and our insurance company paid around 150k and we paid max OOP and not a cent more.
  - geggam 7y ago
    Example : My brother recently fell off a roof and broke his back. Paralyzed now from the waist down. Can't work. Insurance is now gone because he cant work to pay premiums. That first year was great... insurance covered everything. Now... his long term care will end up being medicare disability which means he loses everything he owns.