- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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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.
Higher wages or lower costs, but lower costs would kill the stock market
And if you’re in a HCOL city the municipality is probably thriving off the property taxes.
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.
Maybe in the US but not in Canada.
Canada also has spiking housing rates and thus would also benefit
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.
A bank account isn’t going to magically make you richer.
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.
I just want to know what type of emergency only costs $500 anymore?
Uber to the hospital.
Emergency pizza and ice cream?
A simple blown tire that renders you only reliable way to work that doesn’t pay enough to cover your basic living expenses is a catastrophic emergency that could cost around 500 bucks.
Exactly. A cheap car repair is that with labor. Add kore than one thing in a few months and most people start to really bleed.
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And somehow these CEOs are still talking about pandemic money 3 years later.
My employer got $600,000 in ERC. Meanwhile, I haven’t had a pay increase in over 2 years. Been with the company for over 10 years.
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The $800 stimi will never be forgotten.
The “pandemic money” is the $2,000 I was given 3 years ago? No, I still have that squared away in case of a rainy day.
Nobody has any fucking money. You can’t afford medical, you can’t afford a house, you can barely afford a car. You can barely afford rent. Everything is more expensive. Food, gas, everything. Wages can’t keep up with inflation and employers could give a shit.
And yet nothing is being set on fire.
Time for a good old fashioned French revolution.
That worked out so well…
How employers may help change that? PAY YOUR FUCKING PEOPLE MORE MONEY.
As a non American can I ask about your monthly budget? I’m really curious as to what’s really going on and how much it’s costing because everyone from different states are talking differently.
The US is massive and each state and city can have wildly varying costs of living and pay.
So it’s a bit hard to compare someone from NYC to someone who lives in Austin Texas.
Generally on the north east coast the cost of living is high due to density and so wages/salaries tend to be higher than somewhere with a lower cost of living. As you move into the mid west and central US things tend to come back down before going up again on the west coast.
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Thank you I’ll check.
This is why predatory payday loan companies still exist.
I’m tired, boss.
I work full time for CVS and I have 26 cents in my bank account, nevermind 500. I literally cannot save, every cent is expenses. When an emergency happens I am straight up fucked every time.
An emergency happened for me in june and I was homeless by July, working fucking full time. Thank fuck I have a family I can stay with.I fucking hate this country. Literally standing in line to donate plasma for gas money. Christ.
The land of the fee.
America is kinda fucked up. Seeing it from the outside, nothing is surprising, the solutions are fairly obvious. If nothing else, the direction in which to go. Yet, it’s just dumb and dumber.
You had a real shot at change with Bernie Sanders. At least one of the three pieces. At this point, you’ll have a revolution within the next 5-10 years that changes the two party system, or it’s lights out.
Whatever happened to Andrew Yang? Been praying for my universal income
Yanggang is still around, but it’s not looking likely we’re getting any kind of party nomination. I think it’s microwaved Bidem for dinner this round.
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Neither of these options is going to happen. The country will not fail, and there will be no revolution.
How much has the price of milk gone up in the last 4 years?
I still see LOTS of people with massive trucks, muscle cars and SUVs though.
Next time you see one of the fancy lifted “brodozer” trucks, pay attention to the tires. Often times they’re in bad shape, nearly worn out.
That’s because they bought this thing for $700 per month and never took into account that the fancy tires are $300+ each.
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True, financial literacy is pretty lacking, but that’s more of an education issue than “their fault”
Most dealerships and banks will happily approve a loan that’s too high to be realistic. It’s predatory, I make $20/hr and got approved for up to $300k for a mortgage. I bought a house worth half that and it’s still a lot. Just feel like banks really shouldn’t let people sign loans worth 80% of their monthly income
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Financially illiteracy is a point; but it’s not a point for 50+% of the US. Median wage is $50k/year, which is far too low to ever purchase a home, so they’re affected by the median rent being $1,383. which is half their net income.
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Yeah 63% seems way too high. The median wage in the US is like $50k. That’s not a ton of money, but half the population should definitely be able to find $500 in an emergency.
Same article from decades ago. This is nothing new, it’s not gotten better, it won’t get better anytime soon.
Employers could pay their employees’ student loans, stop forcing them to commute, and pay them well
First it was 40%, now it’s 63%
