Democracy is Failing the Young – No Wonder They Want Change

[mogandave]

3 hours ago, Lacessit said:

Combine the wealth of Musk, Bezos and Zuckerberg, and they have more than the lowest income 150 million Americans.

 

Next question.

 

The lowest 150 million don’t even work.

[Chomper Higgot]

5 hours ago, mogandave said:

Yeah, that’s how it is in those POC countries, but in the US, the bottom 40% pay no income tax. 

 

In the US, the bulk of tax revenue comes from the rich.

They also get the lion’s share of tax breaks which are the single biggest federal budget expenditure.

 

Way more than social security, way more than Medicare, way more than defense:

 

https://www.pgpf.org/article/7-key-charts-on-tax-breaks/

[Nick Carter icp]

5 hours ago, Lacessit said:

Combine the wealth of Musk, Bezos and Zuckerberg, and they have more than the lowest income 150 million Americans.

 

Next question.

 

 

   We are talking about the UK , the above 3 are not UK citizens  

[mogandave]

15 minutes ago, Chomper Higgot said:

They also get the lion’s share of tax breaks which are the single biggest federal budget expenditure.

 

Way more than social security, way more than Medicare, way more than defense:

 

https://www.pgpf.org/article/7-key-charts-on-tax-breaks/

The left wants to social engineer, and then when people take advantage of it you howl. 

 

 

[Nick Carter icp]

5 hours ago, Lacessit said:

You have heard of the term inflation, yes?

 

My first house cost $14,000. I paid off the mortgage in 18 months.

 

The same house today would cost about $800,000. It would take the average wage earner of today about 40-50 years to pay it off.

 

I don't understand how you can say working class people are richer. The average American has $104,000 in debt.

 

   Ah, so your house cost $14 000 and it now costs $800 000 .

I didn't realise that, fair enough, British kids are poorer today than they were 50 years ago .

   Your house cost should have been included in the report , just to give the report a truer perspective 

[mogandave]

5 hours ago, Lacessit said:

You have heard of the term inflation, yes?

 

My first house cost $14,000. I paid off the mortgage in 18 months.

 

The same house today would cost about $800,000. It would take the average wage earner of today about 40-50 years to pay it off.

 

I don't understand how you can say working class people are richer. The average American has $104,000 in debt.

If someone owns a house worth $500k, and they are $104k in debt, that means they’re $396K to the good, yes? 

 

 

[mogandave]

10 minutes ago, Nick Carter icp said:

 

   Ah, so your house cost $14 000 and it now costs $800 000 .

I didn't realise that, fair enough, British kids are poorer today than they were 50 years ago .

   Your house cost should have been included in the report , just to give the report a truer perspective 

And notice how he claims he paid it off in 18 months, but then he switches to the average wage earner for the inflated price. 

 

How long would it have taken for the average wage earner to pay off the house originally?

 

The house I grew up in was in Southern California, and costed $10,000. 

 

My folks bought it on a 30 year loan. My father was a mechanical engineer that worked in aerospace. 

 

That house sold (when my mom died) for $650K about ten years ago. 

 

A mechanical engineer working in aerospace can still afford to buy that home on a 30 year loan.