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In the last year 33.8% of all personal income in the US came from the government. It’s crazy to think that number could go much higher but no wonder we are expe
by smaryjerry 5y ago
In the last year 33.8% of all personal income in the US came from the government. It’s crazy to think that number could go much higher but no wonder we are experiencing shortages of just about everything and inflation.
- vegetablepotpie 5y agoThat is incredible, do you have a link by chance?
- Pfhreak 5y agoI'm guessing it's a cherry picked statistic that is using covid relief to paint some broader picture that doesn't exist. Of course I'd expect government assistance to increase during the worst pandemic in a generation.
- smaryjerry 5y agoHow is that painting a picture that doesn’t exist? I never said that was in normal times. I said in the last year.
- smaryjerry 5y agohttps://twitter.com/biancoresearch/status/1389376827915919361 https://twitter.com/biancoresearch/status/138937682791591936... Can’t find a link to an article but here is a writer for Bloomberg with reference to his graphs from Bloomberg.
- imtringued 5y agoI'm not sure you understand your own comment because what you are saying is basically that people are asking for way too high wages. Why? Because governments don't force people to work for them, they have to hire them on the open market, which means that they have to pay the prevailing wage and that wage is too high for private companies, which forces them to raise their prices, in short, higher wages drive inflation, which means wage growth is leading inflation, which means workers are actually benefiting from the current situation. This is true to some extent and it explains 2% inflation, but the boring answer is that gasoline prices are rising much much faster than wages which is another 2% for 4% inflation in total.