Higher wages or lower costs, but lower costs would kill the stock market
Comment on 63% of US workers unable to pay a $500 emergency expense, survey finds
BertramDitore@lemmy.world 10 months ago
What the fuck is this? “How employers might help change that” Answer: they wont, they just might be forced to let employees give themselves a fee-free loan from their own retirement account, oh and here’s a slightly different new emergency savings account. It’s still all just your money…What the actual fuck?
What about the half of US workers that don’t have a retirement account? I guess fuck them?
Isn’t the answer simple? HIGHER WAGES.
Man, this made me incredibly angry.
lateraltwo@lemmy.world 10 months ago
mayo@lemmy.today 10 months ago
And if you’re in a HCOL city the municipality is probably thriving off the property taxes.
SCB@lemmy.world 10 months ago
Property taxes actually need to be raised in most cities, especially for single-family homes.
Everyone in the suburbs should pay a property tax premium for that benefit, for instance, to address the externalities of having suburbs.
SCB@lemmy.world 10 months ago
Paying higher wages doesn’t get people to start bank accounts, much less retirement accounts.
Many people on the poorer end of the spectrum literally hide money in their walls/mattresses rather than get bank accounts - I know many of these people firsthand.
dangblingus@lemmy.dbzer0.com 10 months ago
A bank account isn’t going to magically make you richer.
SCB@lemmy.world 10 months ago
Not having one does make you poorer, but this is neither here nor there.
My point is, someone hiding money in their mattress isn’t going to put much value in 401(k)s and likely does not have one.