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re: How will young people ever get ahead?

Posted on 5/4/23 at 7:33 am to
Posted by Jake88
Member since Apr 2005
78373 posts
Posted on 5/4/23 at 7:33 am to
quote:

As someone that brings in just minted college grads for rotational development leadership roles ... They are getting 65-70k to start. I'm not to terribly far ahead of them pay wise

And I'm closer to retirement than they are. The secret to financial stability or the way to make financial stability easier. Buy a house you can afford and put some sweat equity into...do that 2 or 3x. Early on -its an investment be not a "home". Especially if you can do that before having kids even if you start small...take that equity to move up. And don't get sucked into a big car payment. It's better when you are mid fifties and your two big monthly payments aren't that big
Man, nobody wants your common sense. They want excuses about how different everything is now and how difficult it is to get ahead...like every generation has complained. But, it's different this time, promise.
Posted by tiger09
Houston, TX
Member since Jan 2015
228 posts
Posted on 5/4/23 at 7:36 am to
quote:

Don’t buy a new car. Buy used and reliable


Bro, I just sold a 9 year old Honda to a major car reseller for $15K. I was STUNNED! They will mark that up to closer to $20K. Buying used cars won’t be the solution.
This post was edited on 5/4/23 at 7:40 am
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
298305 posts
Posted on 5/4/23 at 7:41 am to
Heard the same argument in the 70s.


Well, our fathers fought the Second World War
Spent their weekends on the Jersey Shore
Met our mothers in the USO
Asked them to dance, danced with them slow

And we're living here in Allentown
But the restlessness was handed down
And it's getting very hard to stay
Well, we're waiting here in Allentown
For the Pennsylvania we never found
For the promises our teachers gave
If we worked hard, if we behaved

So the graduations hang on the wall
But they never really helped us at all
No, they never taught us what was real
Iron and coke, chromium steel
And we're waiting here in Allentown
But they've taken all the coal from the ground
And the union people crawled away

Every child had a pretty good shot
To get at least as far as their old man got
But something happened on the way to that place
They threw an American flag in our face
Whoa-oh-oh

Well, I'm living here in Allentown
And it's hard to keep a good man down
But I won't be getting up today


"Allentown" Billy Joel

The arguments never change. They just get pushed to the next generation.
Posted by el Gaucho
He/They
Member since Dec 2010
58532 posts
Posted on 5/4/23 at 7:41 am to
quote:

The second thing is no one is paying 50% of their income in taxes of any form....all combined, state, federal, payroll, property and sells taxes come to about 30% of income over a lifetime. That is too much for certain but it is far better than 50%....

Lmaoooo you’re right

It’s more like 90%

Only welfare queens pay 30%
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
298305 posts
Posted on 5/4/23 at 7:44 am to
quote:

The second thing is no one is paying 50% of their income in taxes of any form....all combined, state, federal, payroll, property and sells taxes come to about 30% of income over a lifetime. That is too much for certain but it is far better than 50%....


Here's the thing. You leftists could easily pay more. You advocate for more spending, more taxes, but still do not pay your marginal rate. You could, you know?
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
138183 posts
Posted on 5/4/23 at 7:44 am to
quote:

You're both right, but the guy you replied to did a good job of describing how things work at my employer. The favored few have equity stakes in the company. They get dividend payments semi-anually that consume most of our profit. Very little sits in Retained Earnings

That guy is either a guy at the top or some egg head in academia.
Posted by AwgustaDawg
CSRA
Member since Jan 2023
13524 posts
Posted on 5/4/23 at 7:46 am to
quote:

It absolutely is political but neither side is without guilt..



We're discussing ideology, not party.

Continued government spending will cause more inflation which makes young people's lives even more difficult.


The post of mine that you responded to was in response to another post stating it was all the fault of "conservatives"....which is typically considered one of two parties. But you are 100% correct in that continued spending and continued tax cuts aimed at stimulating the economy when the economy is already flaming hot is, was and always will be a bad idea.

There is a time and place for both...sensible tax cuts to stimulate the economy in general or even segments of the economy are legitimate. The same is true of public spending. The problem is that we have done both to an excessive degree and eliminated sensibility from the equation. We built a fire in the early 80's with tax cuts and when the effects slowed we spent like drunken sailors to continue the good times...and we have done it time and time again since, regardless of who was in control politically.
Posted by el Gaucho
He/They
Member since Dec 2010
58532 posts
Posted on 5/4/23 at 7:48 am to
Boomers act like they had it bad but this country hasn’t been this close to collapse since the civil war

And honestly y’all better hope for a collapse because if it doesn’t it’s just gonna be worse slavery forced lgbt oppression pay taxes than we have now
Posted by Klark Kent
Houston via BR
Member since Jan 2008
73384 posts
Posted on 5/4/23 at 7:49 am to
quote:

Every time a boomer croaks this country gets a little better. They have caused something equivalent to the fall of Rome


blaming other generations for your personal failures comes off as whiney and pathetic.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
298305 posts
Posted on 5/4/23 at 7:50 am to
quote:


Every time a boomer croaks this country gets a little better. They have caused something equivalent to the fall of Rome


blaming other generations for your personal failures comes off as whiney and pathetic.


Hes a pretty shitty individual if he needs people more successful than he to die so he can advance.

Capable men compete, he's waiting for people to die. He's a pussy
Posted by Jake88
Member since Apr 2005
78373 posts
Posted on 5/4/23 at 8:03 am to
quote:

Hes a pretty shitty individual if he needs people more successful than he to die so he can advance.

Capable men compete, he's waiting for people to die. He's a pussy
He still won't advance. In 20 years he'll be crying about the youngest working generation..."those damned kids!"
This post was edited on 5/4/23 at 8:04 am
Posted by GatorPA84
PNW
Member since Sep 2016
5953 posts
Posted on 5/4/23 at 8:03 am to
At what point can we blame the white womens for voting for this shite?
Posted by Porpus
Covington, LA
Member since Aug 2022
2660 posts
Posted on 5/4/23 at 8:27 am to
There are nasty systemic factors at play here, but the student loan issue seems a little bit self-inflicted to me. As each of my children has reached adulthood, I have been witness to this college admissions arms race that happens.

You see it with all the black youngsters bragging about getting $9 trillion in scholarship offers or whatever. There's a giant dick-swinging contest among 17-year-olds and their parents to see who can get admitted to the best college, and the financial ramifications turn into an afterthought. I mean, you'd hate to turn down that "partial scholarship" to UVA and go to SLU, after you lorded it over your peers for a few months...
This post was edited on 5/4/23 at 8:28 am
Posted by chalmetteowl
Chalmette
Member since Jan 2008
53845 posts
Posted on 5/4/23 at 9:10 am to
quote:

Don’t marry someone you will divorce


Not only that, you got to find someone that won’t divorce you
Posted by Revelator
Member since Nov 2008
62025 posts
Posted on 5/4/23 at 11:17 am to
quote:

What is "soon" to you?


Next 10-20 years
Posted by NOSHAU
Member since Feb 2012
13492 posts
Posted on 5/4/23 at 11:32 am to
quote:

Salaries have not risen nearly at the same rate as inflation. Not even remotely close. The math has been done multiple times in this thread.
Not sure about that. I think what is ignored is that the level of salary does not stay the same over long periods of time. You have to think people will get raises and promotions. For a very long period of time, inflation was extremely low or flat as well. Starting salaries in my field were around $20,000 in the late 80s and are around $65,000 now. Using a CPI inflation factor, $20,000 in 1987 is equivalent to around $55,000 today. That is just one example, but indicates that salaries may be "remotely close" to the rise in inflation over those years.
Posted by Rick9Plus
Baton Rouge
Member since Jul 2020
2440 posts
Posted on 5/4/23 at 11:48 am to
quote:

Allentown" Billy Joel The arguments never change. They just get pushed to the next generation.


I think our economy as well as our culture (high crime, race issues, general trashiness in behavior all around) mirrors the 70s right now. There’s a general sense of hopelessness. Hopefully our next 1980s-90s is right around the corner.
Posted by LittleJerrySeinfield
350,000 Post Karma
Member since Aug 2013
10396 posts
Posted on 5/4/23 at 11:58 am to
quote:

If there was a time to keep the family unit together, this it. It’s better for everyone to stay together and keep the kids at home as long as possible.


I'm looking into building a compound.
Posted by jclem11
Chief Nihilist
Member since Nov 2011
9585 posts
Posted on 5/4/23 at 12:24 pm to
quote:

. An HSA plan might be $150 biweekly, so $300 a month.


Wat? My HSA plan for me only is $25 a check, or $50 a month. I also max out the HSA contribution annually.
Posted by DeathValley85
Member since May 2011
18954 posts
Posted on 5/4/23 at 1:34 pm to
quote:

Man, nobody wants your common sense. They want excuses about how different everything is now and how difficult it is to get ahead...like every generation has complained. But, it's different this time, promise.


I can't decide if posters like you are ignoring the data or simply can't read/comprehend the data.

It's pretty irrefutable that wages have been outpaced by the price of nearly everything. Not sure why it upsets yall so much to point that out. It's understandable if people whining annoys you, but don't pretend their premise for doing so is completely false. Makes you look dumb.
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