I agree completely income increasing for 20-30% is a good thing.
I was talking about bottom 10% income (< 17k/yr household) specifically, to make that little money you almost have to have a medical issue limiting work or be single with infants, so thankfully many of folks in bottom 10% actually already get some fairly substantial support from federal/state/local governments (dependent on state of course) so their survival not depending on making a few more or less percent at their minimum wage part time job.
You seem to be saying you are plateauing and still think the economy is good, so youāre confused why others plateauing think itās bad. Thatās why itās relevant.
I wonder if part of the disconnect is due to peopleās spending habits changing during the pandemic, including some habits due to the government payments that went out, and some people having difficulty adjusting back.
Lifestyle creep is a thing, where people can feel poorer as they make more money. Because they lose the spending habits they had when they made less.
This definitely has to be part of it especially for the online age crowd. Student loan turning back on is like an instant pay cut that I think fair amount of folks thought may never happen. Obviously payment plans improved but paying something is more than nothing.
Yeah that sucked. Luckily they pushed back when you have to recertify income, so Iām still paying mine based on my resident salary from 2019. ~40 more payments to go. Each month without that changes saves me a few grand.
I think a lot of peopleās feelings relate to this.
Iām doing fine. Iām not loaded or anything remotely like that, and itās the worst job market of my working life, but Iām still doing okay.
But if I were to compare myself to where my parents were at this age, I would say Iām definitely doing worse. When my parents were in their mid 40s, they had 3 kids (ages 7-17) and a 3 bedroom house with a 0.5 acre of land. My dad worked full-time and my mom worked part-time. They have a bachelorās degree and a high school diploma respectively.
My wife and I have a doctorate and a masterās, both work full time and there is no fucking way we could afford 3 kids and the house they had. Just the thought of that is insane.
Fill you in on a little secret, it was insane for our parents to have the # of kids they did too as women transitioned into the workplace. They just didnāt know any better. They got through it by putting an insane amount on the plates of our moms combined with a little bit of child neglect.
Like my father in law recently told a story of how in the 1990s the 11 year old kid of a neighbor was put in charge of watching his 3 younger siblings ages like 3 to 9 while the mom was out shopping. Then somehow one of the younger siblings started a fire or something so the 11 year old did the responsible thing and called 911.
Emergency personnel came and dealt with the issue but then they called child protective services afterwards, can you believe it!?!?!??!? Poor parents had to go to court and defend themselves. Everything ended up working out fine but canāt believe they even had to deal with this non-sense issue when they did absolutely nothing wrong!
Actually think one of the younger siblings drank some chemicals or something. Regardless, point is that in 2024 100% of the focus of the story would be on how the children could have died rather than outrage that the parents were briefly accused of being bad parents.
Legitimately difficult to become a doctor but by virtue of posting on this board, you have demonstrated that you have what it takes to become an attorney. Should go for it and soon you will never live in a bad economy ever again!
In real life they could both have won the Nobel while it was physically impossible for them both to be right about anything. Literally not even a venn diagram just two circles with no overlap.
Was going to make a Joe the Plumber joke but apparently heās dead from pancreatic cancer. Sucks that such a visionary on economics was struck down at such a young age.
Oh Iām aware of what the point is pvn, Iām mocking it here.
We have actual data on who the economy improved for most, itās not high earners. Leaning on credentials of what your job or income level is while ignoring all available data is a really bad way of going about things
