View Poll Results: Would you rather:

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  • Increase all wages though increase income disparity

    14 56.00%
  • Keep wages steady and decrease income disparity

    11 44.00%
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Thread: How do you feel about income?

  1. #51
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    Re: How do you feel about income?

    Quote Originally Posted by DrunkenAsparagus View Post
    Buying power still goes up as time goes by. In 1900. The dollar was worhtt 20xs what it does today. However the average income was less than $500 or about $10,000 today. The average peson's paycheck couldn't carry them as far as today. Printing money won't make anyone richer, but creating new wealth does

    Average Income in the United States Visualizing Economics
    I'm not sure about 1900. I do know that my hourly wage in 1963 was the cost of 10 gallons of gasoline at that time, and that was for unskilled labor. I can also remember making $10,000 as a beginning teacher in '70 and buying a house for $13,000, or 1.3 x my annual pay.

    That would have to translate to around $27 per hour for that college kid working in a sawmill I used to be in '63, or a beginning teacher making $40 grand or so buying a house for $52,000.

    I'm not so sure average wages have kept up with inflation over the past 45 years or so.
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    Re: How do you feel about income?

    The average hourly wage is about $17 today. It was much less than that in 1900 if you adjust for inflation. Can inflation outpace wage increases, of course, but that doesn't mean that buying power of the average Joe can't go up over time
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  3. #53
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    Re: How do you feel about income?

    wages don't need changed but the price to buy things needs to go back down we need to stop making better tech just cheaper there is no way we can afford to get a new TV when it costs 2,000 make tech to make it cheaper and the economy will take off





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  4. #54
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    Re: How do you feel about income?

    Quote Originally Posted by 75Greeno View Post
    wages don't need changed but the price to buy things needs to go back down we need to stop making better tech just cheaper there is no way we can afford to get a new TV when it costs 2,000 make tech to make it cheaper and the economy will take off

    You can buy a new TV for about $120 today. It won't be plasma or flatscreen, but it will be color and at least a 21" screen. That's better than we had in the living room in 1970, and probably cheaper in absolute dollars.

    All you have to do is be willing to forego having the top-of-the-line TV.

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    Re: How do you feel about income?

    Hell, I just bought a 32" 1080p HDTV for under $500.

    Of course, I went right back to being broke within a month of getting my inheritance. I'm hoping things with my business will take off shortly.

  6. #56
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    Re: How do you feel about income?

    Today, income inequality in the US is too big, and I think it hurt the US economy. That's because people in poor families end up not being very productive, crime soars, etc. I think decreasing income inequality would be a good thing, but that is only in the US.

    In other countries, in France, Norway and especially Sweden and Denmark income inequality is too small. The reality is, if European countries choose market reforms like the US, then they would be at the same economic level as the US. This never happened and today Europe in general is declining compared to the US.

    There are two aspects to income inequality. Moral, and progress. There should be income inequality, because people who work harder in a firm should get a better pay (that's why unuions are terrible). Also, people who take an education, take a dirty job should get a better pay. It's about awarding hard work an effort. Also, we need income inequality to make the society progress, because if hard work isn't awarded then people become lazy. As long as it's not extremely unfair, then progress is more important.
    Last edited by Camlon; 12-06-09 at 08:01 AM.

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    Re: How do you feel about income?

    Quote Originally Posted by Korimyr the Rat View Post
    Hell, I just bought a 32" 1080p HDTV for under $500.

    Of course, I went right back to being broke within a month of getting my inheritance. I'm hoping things with my business will take off shortly.
    What business are you in?

  8. #58
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    Re: How do you feel about income?

    Quote Originally Posted by Camlon View Post
    Today, income inequality in the US is too big, and I think it hurt the US economy. That's because people in poor families end up not being very productive, crime soars, etc. I think decreasing income inequality would be a good thing, but that is only in the US.

    In other countries, in France, Norway and especially Sweden and Denmark income inequality is too small. The reality is, if European countries choose market reforms like the US, then they would be at the same economic level as the US. This never happened and today Europe in general is declining compared to the US.

    There are two aspects to income inequality. Moral, and progress. There should be income inequality, because people who work harder in a firm should get a better pay (that's why unuions are terrible). Also, people who take an education, take a dirty job should get a better pay. It's about awarding hard work an effort. Also, we need income inequality to make the society progress, because if hard work isn't awarded then people become lazy. As long as it's not extremely unfair, then progress is more important.
    Define fair income inequality.

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  9. #59
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    Re: How do you feel about income?

    Quote Originally Posted by Camlon View Post
    In other countries, in France, Norway and especially Sweden and Denmark income inequality is too small. The reality is, if European countries choose market reforms like the US, then they would be at the same economic level as the US. This never happened and today Europe in general is declining compared to the US.
    Why, then, does the US dollar keep declining when compared to the Euro?
    "The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge" Stephen Hawking

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    Re: How do you feel about income?

    Quote Originally Posted by EpicDude86 View Post
    What business are you in?
    Hobby game design. Card games, board games, tabletop roleplaying. Got some vague plans for expanding into low-end computer games in the future.

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