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That's for the country. Then they divide by population and claim everyone is $1,000 poorer. The elite class would reap the benefits and the poorer class would
by ipaddr 3y ago
That's for the country. Then they divide by population and claim everyone is $1,000 poorer. The elite class would reap the benefits and the poorer class would have wages kept even lower.
If everyone including corporation's wealth were equally shared then yes you are correct. But in reality it's the opposite.
If the rich could import unlimited people wages would go to almost nothing. The economy would grow because the country as a whole would grow. But it makes the average person worse off.
- acdha 3y agoThey’re calculating real household income - even the richest only count as one of those, unlike a simple GDP/population calculation. In any case, feel free to provide your alternative analysis.
- ipaddr 3y agoCheaper services benefit the rich averaged across everyone it's 1,000. For example saving $10,000 on lawncare means 9 poor families can not benefiting and the headline is still correct. In reality they save 20,000 and those poor families are 1,000 worse off.