Is it just me or are we trending backwards towards having a wealthy aristocrat class and the rest of the country as indentured servants? The middle class feels no more…

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Blame decades of tax cuts for the rich and deteriorating education, services, and support for lower and middle class families

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Yes yes and yes. I also blame the general selfishness of the upper class. There are a lot of upper/upper middle class people out there currently making selfish choices that are negatively impacting the rest of the country (ie. the new fad of everyone becoming a landlord and not selling their old house…wonder why there is an inventory shortage and prices are insane…)

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I blame inflation. I had more disposable income 3 years ago with 20% less nominal dollars than I have now. That’s AFTER cutting major expenses and moving back in with family

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Ok cool maybe I’ll read it one day…still doesn’t change the fact that your initial comment/statement is meaningless

This all goes back to the Reagan tax cuts. Trickle down economics didn’t work.

Do you realize how little this is? That’s maybe 4 years of base living expenses, if you’re lucky. And that’s assuming that is all liquid net worth, not tied up in home value (as I would assume it mostly is). Is it not telling that the magical 37% number is just about identical to the same jump there has been in the housing market in that same time. Unfortunately value of your home doesn’t help much when you need it to live in…
Also, according to census.gov. Only 34.6% of Americans have 401k accounts (as of 2020). So, not a “huge amount” by my metrics. And the average value of those accounts is only ~$30,000. So the argument that the stock market going up helps most Americans is one of the largest falsehoods. Businesses want you to believe this, because this logic makes them richer. But for the everyday folks, most people would be better off with a 10% pay raise every year than they would with a 10% increase in the S&P. Note…I personally have over $500k in my 401k right now, so I’m very much coming from a place of privilege. But I acknowledge that I am the exception, not the norm, for a working class person in this country

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👋 Hello Fishbowl Family,
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uplifting

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