Is the wealth that our nation and economy create being distributed to the working class? This is a serious question, not trolling, just watching news recently and asking myself questions about this as I see a fair level of pent up anger on both left and right sides. I know that there is a layer of folks (I am partially there) that feels that things are OK, I am unsure if my three adults kids would fall into this category. Thoughts?
24 replies (most recent on top)
@1rr no. Its not
@ky working class is anyone who who works for a living.
To the absolute mo--n who said working class is blue collar workers and not office workers. Why? How d-mb are you? If your livelihood depends on a job, and if you lose the job you and your family starve, you're working class. I don't know how else to break it down for you. If you're currently employed at some company, you're working class. Having said that, I also want to add that absolute numbskulls like you are the reason we don't have class consciousness. You don't even know what class you belong to. Wise up man. Otherwise we're in trouble. Think about your kids.
Rescuing mega-corporations with govt money isn't capitalism.
Attempts at capitalism always end with either a complete collapse or government bailouts followed by a complete collapse, hence the phrase "late stage capitalism."
Capitalism has become a joke.
Government rescued auto industry, banks and companies during financial crisis in 2008.
Rescuing mega-corporations with govt money isn't capitalism.
40 trillion debt and 1trilion interest per year is paid by US government.
If trade deficit increases just like the current situation. USA has to raise more money to import and more bonds/treasuries to sell to raise money. All the USA wealth about 1 trillion is given to whoever own them. Few local and all over the world. Japan is the highest holder of us treasuries.
Keep manufacturing local to reduce trade deficit
The working class is blue collar, not office workers
ITT: old people who had it good and are now dunking on the rest of us. Classic case of "I got mine so sc--w you".
Made just over $10,000 a year in 1986. Net worth now just shy of $3,000,000. Did not inherit a dime. Most of it earned via day-trading with BrokerageLink portion of 401k. Drove sh---y cars my whole tenure at Cisco and lived in a small older home. Most of income went into investing.
Capitalism? Learn to day-trade, live minimally, and work your a-s off. It can be done.
Wealth is earned.
You don't get to spending so much of your development budget on bug fixing without a significant number of people who are worse than deadwood and Cisco had a habit of promoting such people. I can point to individual decisions that cost Cisco tens of millions of dollars each. How did those people "earn" their wealth?
Like Alan Greenspan who was saying the 2008 collapse couldn't happen as it was already happening apparently people at Cisco can't understand the high school film of the fat lady singing and the glass breaking. The US has over $114T in debt and is paying over $7T/yr in interest and both the public and private sectors are borrowing like drunken sailors.
System is rigged !! Capitalism has become a joke.
Government rescued auto industry, banks and companies during financial crisis in 2008.
@OP This is the kind of thinking that ruined Cisco btw. Cisco is filled with dou--es like you. Wealth is earned. Taking money by force from one group and giving it to another is theft.
The last thing I need is more government
@bz so you don’t want to bring manufacturing back to US?
The long running trade imbalance is an issue all previous POTUS talked about, and no one have done anything about it.
Trump’s solution is comical but for lack of a better alternative, I am willing to buy less things for the same budget (to get some manufacturing to USA) 🇺🇸
No one is asking for socialism or communism, just enough security for us to build decent lives for ourselves, provide for our families, and eventually retire without worrying about one health scare bankrupting us. You can be an honest worker performing well but still get canned because muh shareholders and muh exec bonuses. One layoff throws everything off especially in this economy.
We don’t want crony capitalism.
We don’t want other countries to break world trade laws and dump goods at dirt cheap price. This will lead to all companies shutting down in USA.
Capitalism is socialism for the rich ! We need blend of capitalism and socialism!!
the idea that all socialism is bad - is for the mo--ns that let fox news do all their thinking for them.
@bj You mean like gov't tariffs that raise the price of goods for everyone?
@ab "fair equitable trade and wealth creation" - hmmm. i think that wealth creation is a non issue, the issue is that, with time it stays captured by a few, so it really does not work for the masses. inflation adjusted, the number of deca-millionaires and billionaires went up ten-fold over last 40 years. the median wage went down... this is why we have a turmoil across all ends of political spectrum. meanwhile we hollowed in economic base, shipped jobs overseas, imported millions of low wage workers, meaningfully reduced the voice of the worker, etc. etc. - it's kind of over...
I am absolutely sure all it square with your nation (assuming it is USA)
You got what you voted.
We did not, so fy!
This is the same story that has repeated thousands of years. Things only change when conditions get so bad, that the repressed masses rise up in revolt and governments change after years of painful change and often involving millions of lives lost.
Until then, the next generation will contently live in their parents' basement, work retail, play XBox, and order DoorDash.
It's too comfortable and we are all too fat from ample fast food to cause any change.
My XBox tournament is starting so have to go.
Sounds like socialism talk. State socialism / Government is the problem were fair equitable trade and wealth creation is hampered by taxes, regulations and the cartels of powerful.