huge_clock
On the false preposition that an air duct is hiding Hamas.
Capital is more like stored labour. The first ever capital was just a starp stick or spear. Someone spent labour and it resulted in a more productive way to hunt animals. This almost immediately would’ve resulted in inequality as the spear hunter caught more game. It’s not that the capital was taking anything from the labourer, it’s actually that capital and labour work really well together and humans are more productive with capital.
You’re also taking a snapshot of the most regulated industry in the US. Building high rises is illegal in huge swaths of urban areas. Before we say the free market isn’t providing an answer cab we actually try it? I’m talking removing exclusionary zoning, speeding up the permit process and reducing the power of local action committees, and reforming the broken heritage process that’s used by rich people to keep their areas from densifying.
Curious why you made the distinction about real personal income when it is also rising. I agree wealth inequality is rising but not that it is coming at the expense of real personal incomes.
The long-term trend is that the average person’s income is rising but we’ve seen recent declines due to high inflation. Can you expand on your line of thinking? I’m not sure I follow your reasoning.
Most households living below the poverty line have at least one unemployed person, so giving people jobs is pulling them out of poverty. Whether or not they are treated fairly at work and are satisfied with their working conditions is another story.
My parents never could’ve either but $500k household net worth only puts you in the top 20% of households so it’s not like they were exceptionally wealthy and we don’t know if they borrowed to invest or what exactly their specific situation was. Miguel Bezos was a Cuban refugee and then worked as an engineer for Exxon and Jackie Bezos was a secretary so i mean this is pretty middle class IMO.
That doesn’t mean that all billionaires clawed their way to the top as i mentioned above, or that we shouldn’t make progressive changes to the tax code. It’s just important that we separate truth from fiction to make educated decisions.
Starbucks CEO Howard Schulz grew up in a Brooklyn Housing project, George Soros survived the holocaust and worked waiting tables, David Murdock of Dole Foods was homeless. There’s tons of examples.
Here’s a fun article that ranks the whole Fortune 400 list. 80% of them inherited their wealth or at least grew up middle class.
Jeff Bezos actually scores high on the list because his Mom had him when he was 17, he flipped burgers in high school and by and large did not grow up rich.
Just because the rich get richer doesn’t mean the poor get poorer. Look at the data.
Nothing about capitalism prevents you from doing this. I just looked online and there are multiple apps that let you do this. It’s just a hammer is a relatively inconsequential purchase and fairly cheap. It might take $5 in gas and $20 in lost wages just to save the materials in a $10 tool. Not too mention the administration required to maintain this system. Car sharing though and parking share have become popular though.
I guess if you think about it that way then everything is luck and we live in a deterministic world where none of your choices matter. That still wouldn’t support the argument in the OP meme though.