The low annual income of the typical american worker is disturbing

blackzeus

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Wage Statistics for 2015
70% of the people that work in this country make less than $50,000 a year. Half the people that work in this country make less than $30,000 a year.

Something desperately needs to be done about income inequality. I'm not saying everyone should be millionaires but people should mostly at least be approaching $50,000 a year working full time.

I just started out renting rooms and demand is crazy. Especially under $500, it's gone in less than a week. The saddest thing is the amount of COUPLES wanting to move in to a room :wow:
 

blackzeus

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Welcome to the fight friend.

These numbers will get worse due automation, rise of machine learning and AI, and increasing corporate influence. We need now more than ever to focus on the working class.

They are planning to put the working class on welfare with Universal Basic Income :wow: It's over for average brehs :wow: If a machine can do what you do your days are numbered, get rich or die trying frfr :wow:
 

blackzeus

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How big is your property? Any tips on how you got your start?

Sits on 5K sq ft, in the process of getting zoning approved to subdivide the lot, the current building on there is only 1K sq ft. "If you build it, they will come". Find cheap land, and build on it, don't worry about the location unless it's an ongoing gang war on your front door step by that sh*t, ESPECIALLY, if there is a train within 5 miles going anywhere near a metropolitan area, or if in the country if the land in unincorporated in the vicinity of an incorporated township. The key is individual bathrooms. If a person is getting his/her own room AND private bathroom, that sh*t goes fast breh :wow: Don't take any profits until you got at least 5 of these, then do your thing and ball out if you wish, or reup for even more profits :obama:
 

dondraper

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Automation is overblown, moore's law is starting to slow down. Yes most manual laborers will be out of luck, but work that requires thought and creativity are safe.
 

Jimi Swagger

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A lot of wealthy people now are wealthy because of family wealth created before or after the Reagan presidency imo... If your family had money in the 80's they got to ride into prosperity... The wealth gap has greatly increased since then...


Yes and no. You had booms such as tech in 90s to 2001. It's not that the rich are becoming richer and the poor poorer, it's just the poor are becoming richer at a slower rate. In addition to economic factors, personal choices such secondary education training and family creation (poor to middle class divorce quicker than rich).

See the 2012 Pew study on Pursuing the American Dream about income inequality and economic mobility.

It tracked children until they reached the age as their parents when the study began; including income and wealth levels of the parents and the children until adulthood.
Kids of wealthy parents had an advantage in both income and wealth, however, that eroded over time and didn't increase compared to poorer children.

A bottom-quintile family first generation had a median wealth of $7439. The median result for a child from this quintile was to make it 9/25 of the way into the second quintile (27.2 percentile) as adults. This corresponds to a wealth of approximately $37,834.

A top-quintile family in the first generation had a median wealth of $495,510. The median result for a child from this quintile was to fall to 16/25 of the way up the fourth quintile (72.8 percentile) as adults. This corresponds to a wealth of approximately $279,096.

Poor kids experienced about a 408% increase from their parents' level of wealth, while the typical rich kid experienced a drop of about 44%.

Rich kids finished with almost 8 times as much as the poor kids but for most people over the generations, the wealth of dynasties dissipates, while the poor increases.






main-qimg-8b3bae53ab575193b016766b014fc32f-c
main-qimg-3287c76609c03cc09def0b7fade9e6ce-c
 

blackzeus

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Yes and no. You had booms such as tech in 90s to 2001. It's not that the rich are becoming richer and the poor poorer, it's just the poor are becoming richer at a slower rate. In addition to economic factors, personal choices such secondary education training and family creation (poor to middle class divorce quicker than rich).

See the 2012 Pew study on Pursuing the American Dream about income inequality and economic mobility.

It tracked children until they reached the age as their parents when the study began; including income and wealth levels of the parents and the children until adulthood.
Kids of wealthy parents had an advantage in both income and wealth, however, that eroded over time and didn't increase compared to poorer children.

A bottom-quintile family first generation had a median wealth of $7439. The median result for a child from this quintile was to make it 9/25 of the way into the second quintile (27.2 percentile) as adults. This corresponds to a wealth of approximately $37,834.

A top-quintile family in the first generation had a median wealth of $495,510. The median result for a child from this quintile was to fall to 16/25 of the way up the fourth quintile (72.8 percentile) as adults. This corresponds to a wealth of approximately $279,096.

Poor kids experienced about a 408% increase from their parents' level of wealth, while the typical rich kid experienced a drop of about 44%.

Rich kids finished with almost 8 times as much as the poor kids but for most people over the generations, the wealth of dynasties dissipates, while the poor increases.






main-qimg-8b3bae53ab575193b016766b014fc32f-c
main-qimg-3287c76609c03cc09def0b7fade9e6ce-c


raw
 

Wild self

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A 1 bedroom in the hood in the Chi in the South Side is $700+ right now :wow: You need to be making $45K/yr just to live in the hood. :wow:

Absurd. These greedy landlords are waiting for rich immigrants to come in and move in, but those apartments are vacant for years on end. That's how I know a global recession is coming.
 

blackzeus

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Absurd. These greedy landlords are waiting for rich immigrants to come in and move in, but those apartments are vacant for years on end. That's how I know a global recession is coming.

Not at all, they are pricing it to right at the point where you can't save to own a home anymore, they know what they are doing. If you make $10/hr that's $400/wk, so you need 2 weeks of work just to pay the rent. Essentially pushing you into permanent serfdom :wow:
 
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