it is a core principle of right-wing economics. If you funnel all the money to the rich, it will somehow, some day, trickle down to other people. That is some magical thinking.
This is one of the few comments you've made that I agree with. The wealthy tend to horde the wealth for themselves, put it in safe interest-generating assets, and thus don't create anything of real value.
This is why rulers of the past forgave all debt immediately upon entering power. It helped the poor not accumulate a ridiculous amount of debt, prevented the rich from becoming too rich, and incentivised properly investing in an economy instead of engaging in usury.
since that data included food as a "premium item", i have no faith in that info. But again, there are a limited number of jobs. You keep pretending like if every american went to college, they would all be CEOs making millions. That is a fantasy. There are a limited number of high paying jobs. Yes, getting more education will help you fight to get them. but if I get that job, someone else doesn't. no matter how hard everyone works the majority of the country is going to struggle financially. It is how the system is designed.
It depends on the type of food being purchased. Some food should definitely be classified as luxury, such as truffles or exotic cheeses. For the report, it seems that McDonalds is considered a luxury, which isn't too unreasonable considering people shouldn't be living on that.
The majority of the country struggles because it is steeped in debt. If I recall a paper correctly, if you have 10$ American dollars, you are richer than 75% of Americans. Some of the debt is good, such as a loan for a cheap car to be able to work. Some of it is bad and self-inflicted, such as credit card debt to buy luxury items. Given the statistics presented by bmd, it appears that a lot of Americans accrue bad debt through unintelligent purchases.
Whilst I am certainly sympathetic to outrageous students loans debt, the punishment for reckless, debt-driven, luxury item spending should be a poor financial situation.
that's a great plan if you want america to decline. The US needs immigrants or it's population will start to decline. You are right, if america stopped immigration the cost of labor would rise. but this would also cause a drop in the size of america's workforce and cause the economy to decline.
Whatever economic band aid immigrants provide for the U.S. economy is many-fold outweighed by the cultural and spiritual destruction it causes. Most non-European immigrants, be they African, East Asian, Jewish or Hispanic, create an environment of hostile racial conflict and bloc politics that distracts from real issues (such as government size and tax reform).
The U.S. needs immigrants like a man with gangrene needs a chainsaw -- you'll get rid of the gangrene but you'll kill the man.
you keep ignoring my argument. If everyone is a manager, then they aren't managing anyone. There is a limit to the number of high paying jobs. Even if every single american was highly educated, half (if not more) would struggle financially. Education helps you fight over the limited number of good jobs, but no matter how hard the general population fights, half the country will struggle to make ends meet.
You don't need a high-paying job to exist. Responsible financial management, even with a lower-paying job, will allow you to save and invest to build wealth. If half the country is spending most of their paychecks on luxury items, then perhaps half the country deserves to struggle.