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A Very Good Sign: Kamala Harris Is Going Right at Corporate Greed
(newrepublic.com)
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this post was submitted on 17 Aug 2024
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If you got the 2% micro growth, you're actually not in the starvation wages bracket. If you're in the 13% growth bracket and you're upset that it's not more (which, I get), you gotta talk to the people who set up the 7% inflation in 2021 and 2022 that ate up all your wage gains from Biden's policies the last few years - not blame the people who got you 32% higher wages that then got eaten up by the Covid inflation.
Source
So groceries go up 150-200% and wages go up by 15% and somehow that's a win?
ETA not to mention inflation being something like 2.5% per year at least
Sssh you're not supposed to use the actual numbers
You're supposed to pull Trump-style wild exaggerations out of thin air, and then disappear and have someone else take over (apparently) when someone questions the reality you are presenting
You're misunderstanding the chart -- that's all inflation-adjusted wages. Cumulative inflation (which, again, was follow-on impacts from Covid, mostly unavoidable although I'm sure Trump didn't help) was around 20% in total. So low-wage income went up 33%, high-wage income went up 24%, and so on, and then about 20 percentage points worth of that got eaten back up by inflation.
Basically the working class exceeded inflation by quite a lot, and everyone at least kept pace with it (2 percentage points above inflation means basically no detectable change).
What groceries are you paying 200% more for? Even for the very highest items like eggs, it's been like 40% increase cumulatively.
The whole problem currently is that it was way the fuck more than 2.5%, and prices from the spike in 2021-2022 haven't gone back down or anything. Here's the chart. The wages chart I showed was inflation-adjusted.
This is only true of you believe inflation figures are an accurate reflection of the cost of living. Most people saw an increase in their rent and groceries of 50-100% since 2019.
Are the people who earned $7 in 2019 making a $10-14 minimum today? Are the people who were on 30k now making 45-60k? If you genuinely believe that, you'll believe anything...
What is your source for this?
(FTFY, hope that helps)
(Also, what happened to the other person who was saying 200%? Is this like a tag team where everyone takes their turn to send one and exactly one message to me, so that the abandonment of the 200% figure can be replaced with other equally incorrect figures in a way that I then have to disprove afresh as if the whole first conversation hadn’t happened?)
I've reported this as misinformation after the discussion in !news@lemmy.world
People who earned $7 in 2019 are currently, on average, making $9.24 - an increase that comfortably exceeded inflation. If you want to say we need to do way more because that amount of income is still a fucking crime, then that sounds good. If you want to say we need to get rid of the team that achieved that $2.24 increase, instead of seeing what they will do with another 4 years and even if the alternative is to bring it back down to $7, then I have some questions
I've reported this as misinformation, after the discussion in !news@lemmy.world
And they're pulling those numbers out of their ass as if raising a minimum wage to something that is still an unlivable wage is progress.
What is that, if not progress?
If the thesis is “let’s keep going we need way more”, the great. If the thesis is “let’s shit on the team that achieved 30% higher wages and imply they’re the same as the team that actively wants to undo all of that and leave us with just the 20% inflation and no higher wages” then I will respectfully disagree.
That team didn't do shit for higher wages, until there is a federal livable minimum wage, they haven't done shit.
What do you believe happened to working class wages between 2020 and now?
What did the Biden administration do that brought increased wages about? Which specific policy of his do you credit with the increase in wages?
The two big things I’m aware of are (a) firing Peter Robb on Biden’s very first day in office, and replacing him with a staff at the NLRB that was actual labor people (b) raising about 2 trillion dollars via increased corporate taxes and then spending about half of that on programs designed to create domestic manufacturing jobs
(Oh also the answer to what happened to working class wages since 2020 is they went up by 12%, inflation adjusted)
So they went from unlivable wages to unlivable wages.
That 13% is $10k in the bottom 10% median individual income they were earning $8,801 in 2022. Which is $1,199 https://dqydj.com/average-median-top-individual-income-percentiles/
90% median individual income is $135,605 in 2023. In 2022 it was 132,676. Which is 2% ...but they got $2,929 Same source
98% and 99% saw the largest nominal amount increase. 98% got 13,901 more money between 2022 and 2023 99% got $5,878 more money between 2022 and 2023 Same source.
Obviously $1k for someone making $10k is significant than someone getting $2k making $130k