Re:Where our economy is, for the young
by lotsofpulp on Friday October 02, 2020 @12:14PM
(#24664096)
> I don't which policy will make us closer to this sort of fairness, but that's the only bottom line that interests me.
It’s government policies that impact all businesses that get us closer to that fairness. Any single business that chooses to pay outsized amounts for their COGS, including labor, will get crushed in the larger market. There might be some like Costco and Apple that can afford to pay more, but they serve middle upper class customers and have a unique product.
For everyone else, people will choose to shop at the place that sells bread for 50 cents less.
Let's not forget that the economy has transitioned to have both partners in a marriage to work. (Being dual incoming earning) That's had a few negative effects on the market and social issues (less parental involvement with kids and possibly contributing to a higher divorce rate)
This sounds really European to me. Is this also the ideal in the USA? I can't see how "a medical event bankrupt you" would ever be possible in the US.
https://www.cnbc.com/2019/02/11/this-is-the-real-reason-most...
Two-thirds of people who file for bankruptcy cite medical issues as a key contributor to their financial downfall.
While the high cost of health care has historically been a trigger for bankruptcy filings, the research shows that the implementation of the Affordable Care Act has not improved things.
What most people do not realize, according to one researcher, is that their health insurance may not be enough to protect them.
If a significant part of the population work more than one job, try actively to reach this sort of life, and hardly achieve it, then something is broken.
I don't which policy will make us closer to this sort of fairness, but that's the only bottom line that interests me.