Yeah, it figures that the natural reaction here would be for a bunch of rich people to lecture poorer people for being poorer than they are.
Did you even bother to click on the link? I have to ask because the main point contained therein is that the poorer 40% of the population is losing money on balance after you account for increases in the cost of living.Common wrote:
Net income fell starting with bush and plummeted during obamas 8 yrs. There is clearly no doubt that the economy and working americans are faring much better under Trump. Not only is the economy humming there are more people working than in decades and there was an increase in workers average wages across the board.
So I guess then no one should get a college education, right? Or no one should ever take out a loan to pay bills or pay for necessities with a credit card when they have no other means, right? Who needs heating in freezing temperatures when you can have a more balanced budget, right?Captdon wrote:
Rule #1--Don't spend more than you earn.
Simplistic, condescending suggestions like the above are unhelpful because they are much easier said than done and often cannot be done in my experience.
In response to the last recession, they did! It was called personal savings, which peaked back in 2012. The problem here is that, since that time, the cost of living has risen so much that working people writ large have been forced to exhaust most of that buffer.MMC wrote:
Nor do they talk about why the bottom 40% don't ever try to buffer themselves as the top 40% does.