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I apologize in advance but this issue is a crucial one. The effects of this "inequality" for all people, rich and poor alike should not be underestimated. Accu
by talkingtab 1y ago
I apologize in advance but this issue is a crucial one. The effects of this "inequality" for all people, rich and poor alike should not be underestimated.
Accurately understanding cause and effect, having a diagnosis that actually affords an understanding and solution to the problem is of some importance then.
In the US we see a severe and dramatic event: falling income and rising stock market. In simple terms, corporation profits are rising and those rising profits are going to those who are already wealthy. At the same time, the real income of common people is falling. The discussion often turns to "inflation" as though low inflation is good news. If you cannot afford reasonable health care, food, adequate housing, low inflation does not help. In the discussion of these increasingly common problems, the obvious solution - paying a living wage - does not come up.
A key tool in understanding situations is "Cuo bono?" Who benefits? In the US and other countries it is corporations. An ancillary question is who does not benefit? The answer to that is question is given by the fact that the national minimum wage in the US is $7.25 per hour. Who benefits? Who does not? When the "too big to fail" banks had problems, the US instituted socialism for corporations. Who benefited? Who did not?
And certainly there is less public opinion support for higher minimum wages. Why could this be? Public support is to some extent determined by public discussion - where people express their problems and issues. If there is no forum for this discussion, then perhaps that is the crucial factor. In which case measuring "public opinion" will not be predictive.
A question then is whether there are forums where the experiences of common people are primary. Perhaps the Washington Post, owned by Jeff Bezos, is a such a forum? Really? Or perhaps other media, supported for the most part by corporate advertising is the answer. For example, the NYT with their articles about where to buy your two million dollar vacation home? Or here is a recent article for you:
https://www.nytimes.com/2025/04/23/style/plant-sitter-nanny.html https://www.nytimes.com/2025/04/23/style/plant-sitter-nanny....
Our so called news media have dramatically failed. And somehow the NYT is surprised that there are people who will now choose any alternative over the status quo. And if you had the nerve to reject both candidates in the last election, the NYT deemed you a "double hater".
- johnnyanmac 1y ago>Our so called news media have dramatically failed. And somehow the NYT is surprised that there are people who will now choose any alternative over the status quo Our media is bought out by the very people who benefit, sadly. We've truly hit full oligarchy in 2025. Even manipulating the ones suffering to vote against their own best interests
- RestlessMind 1y ago> In the US we see a severe and dramatic event: falling income and rising stock market Inflation adjusted median wage has been increasing since mid-90's: https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- talkingtab 1y ago[dead]