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1 is true, but 2 feels more like of a "well, tough" moment. Plenty of people have to take jobs that don't pay as well as they used to, and these layoffs often h
by lenerdenator 2y ago
1 is true, but 2 feels more like of a "well, tough" moment. Plenty of people have to take jobs that don't pay as well as they used to, and these layoffs often happen to inflate stock prices on already-profitable companies. Why do they want to inflate stock prices? Because we've made equities the sacred cow of wealth stores in this country, and the very same people who manage the BB's retirement portfolios demand it to make the number on the 401k go up.
It's important to remember that these shifts did not come from nowhere. The shifts towards financial instability for the average person took place during a specific period of recent history, and people - including average people - who really should have known better, given all of the expert advice made it happen.
There were very much people saying "shore up Social Security", "don't offshore manufacturing", "increase capital gains taxes", "invest in more sustainable infrastructure", "increase wages at the expense of equities prices", etc. and these people were all ignored, at least in the United States.
- UncleOxidant 2y ago> There were very much people saying "shore up Social Security" And there's the solution. It's not making people work longer - many can't for health reasons or due to ageism. The easy way to shore up social security is to significantly raise the wage base limit (which is currently $168,600). Double or triple that.
- lenerdenator 2y agoTry telling Jerry, 62, down the street he's not getting his OASDI.
- UncleOxidant 2y agoWhy would increasing the amount of income that's subject to social security payroll tax deprive Jerry of his OADSI?