68
Are you better off than you were four years ago? It can be a murky picture for many
(www.nbcnews.com)
this post was submitted on 25 Jun 2024
68 points (83.3% liked)
News
23287 readers
3694 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I've voted D every time. This question is ridiculous because most people are NOT better off and those that are, are all on the low end of the financial spectrum where the short term income gains have made a difference.
Even the best stats I see from the Democrats show 8% better income adjusted for inflation. That's awesome! But what inflation? The low fed number. Not the CPI.
This means for anyone who purchases things, or where purchasing things is a larger proportion of their income which is everyone below the top 0.5% or 1% in the USA, your effective wage has gone down 10% to 40% depending on what your personal income raise was. Those that job hopped, are only down a bit. Those that didn't are screwed.
Everytime this question gets asked, I look around and not a single person I know is better off now from income. Not a damn one. You know what is doing better? Stock portfolios. I have them, I'm up. My friends have them, they're up. We have traded realized daily losses in living for stock market unrealized gains. The average person doesn't have stocks. They just get shafted completely.
It's incomprehensible to me how low Democrats have gone to just blatantly lie and gas light. That's a Republican move. And every one of the people smart enough to actually think, gets a little more pissed off when they're gas lit into trying to believe that 20% year over year multiple years in a row of inflation is good. That's batshit.
Everyone who works a white collar job for a medium or large company should have access to a 401k or some other investment vehicle but I understand that many can't afford to fully utilize those benefits even if those benefits are available. The exec class gets richer as their portfolios gain value, as they tend to get compensatory stock. Everyone else takes an "L" to make that happen.
A rank-and-file accountant or developer can still set themselves up for retirement but they have to start early and be extremely aggressive.
I agree that with inflation, there are perverse incentives created. Most peoples jobs do not have any guarantee of annual raises, performance based or cost of living based. Effectively you are taking a pay cut each year due to inflation. This passively makes every company environment worse, because the only way to gain compensation is to jump ship to another job. Those who are capable and motivated will try to parlay every job into a better job within 6 months, and that makes it impossible to build up capabilities and culture. It effectively makes everyones job suck more, whether you stay or leave.