4 ms·
If my income goes up by 10% and my expenses go up by 10%, am I better off or worse off? If I had savings, I'm probably worse off. (Yes, I may get more interes
by anamax 5y ago
If my income goes up by 10% and my expenses go up by 10%, am I better off or worse off?
If I had savings, I'm probably worse off. (Yes, I may get more interest going forward, but that won't make up for the value lost by my principal.) If my taxes go up by more than 10%, I'm worse off.
- soperj 5y agoAre you arguing against inflation? Because that's not what were talking about. Given that inflation is the goal, why is the answer always to give a lot of money to those who are well off vs. increasing the wage for the bottom end?
- anamax 5y agoThe claim was that an income increase was necessarily a good thing. I'm pointing out that if your expenses go up more than your income, you're worse off, even ignoring inflation's effect on savings.