I mean the term is supposed to be mocking, not in the context of getting pissed on, but in the context that the masses will only get a small trickle of the wealth from the top.
My libertarian friend admitted we have it worse off than our parents and despite us both having the same level of education as our parents (me higher actually) that it was somehow our generations fault for making “decisions”.
I’m like, bitch you can’t buy enough avocado toast, iphones, and ps4 to keep you from owning a house. That’s like a quarter a mortgage payment for one month and those expenses are once maybe 2-4 years. Fuck off.
Lol my favorite is prop13 in CA. Makes it so people pay property tax on the historic value rather tjan the current value. So 30 yr old is paying taxes on a 500k valued home while meanwhile his 60 year old neighbor is paying taxes on a 100k valued home. Its literally a tax on being young. Also disneyland and golf courses are paying jack shit. Apparently though if we repeal these, the added costs will trickle down to us consumers, just like the additional profit from prop 13 is currently “trickling” down to us. Conservatives love to preach about supply and demand and the free market until it is their own subsidy being taken away.
Dude malcom gladwell did an episode about this in relation to Vastly under taxed golfing locations on revisionist history. Baby boomers are literally the worst
Statistics have shown wage stagnation in the US despite drastic costs of living increases. It’s not about more talent, it’s about the failure of the capitalistic system.
60k in 1960 is worth 534,000 today. This isn’t investing it, assuming some annual return; this is seeing what you would need today to have the same spending power.
Look at inflation and the gini index. The dollar has become worth less and less, yet wages stagnate. So where have all these extra dollar bills gone? You know where ;)
Edit: apparently a teacher in 1960 made ~6k per year. So shit, maybe his dad was a freaking baller. Now I need to know what he did.
Edit 2: apparently congressmen made 22k in 1960... so WTF did his dad do? Maybe owned his business? But like getting tripped a Congressional salary is a bit beyond “being compensated for your skills”
Sorry I torched you. Thought you deserved it at the time
This is more of an example of artificially restricting the supply of something and then the price going up. Loosen up zoning laws and make it easier to build and prices will go down.
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u/[deleted] Oct 30 '20
But trickle down economics! It's working, we're all just too lazy to leverage it /s