You might be interested in this paper, which measures intragenerational mobility using tax data: https://www.stlouisfed.org/~/media/Files/PDFs/Community%20Development/EconMobilityPapers/Section4/EconMobility_4-4LarrimoreMortensonSplinter_508.pdf …
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Thanks! That's a good one.
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Oh! You might know this off the top of your head- how much does structure of income matter at different income levels? Like EITC vs monthly supplement or how much does having a bonus boost middle class savings? Ect
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I'm not sure what question you're asking! Matter for what?
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I mean what would be optimal? I feel like v. Low income needs stability vs middle income benefits from irregular boost, but I have no data
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@bethanymac12 The big banks advocating for elimination of GSEs & inevitably the demise of the 30 yr fixed for the average American don't want Congress to see this chart. People aren't just worried about future interest rates - they're worried about qualifying down the road.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Extremely Morpheus: What if I told you all of these issues could be countered in one policy
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Seems like a case for some automatic wage convolver.
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In greater seriousness, I think we should look into banking and financial engineering for every wage earner. Focusing on the very many Americans that necessarily spend all they earn.
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Stop advocating for cheap imported labor
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When working at PayPal, this was what my team was fighting against: https://www.huffpost.com/entry/americans-savings-500_n_2003285 … Also paycheck-to-paycheck-ness: https://www.huffpost.com/entry/living-paycheck-to-paycheck_n_1899685 … Note this is from 2012, so not really “news” today.
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What brings the most income instability is the financially unexpected, lack of financial ed at the k-12 level & lack of a safe net. I’d guess Europe has not completely collapsed because of their safe nets, even though many live with under €1000/mo, which (in e.g. Milano) is nil
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Also, this is our middle class: https://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/ … Certainly a shame for a country that probably invented the concept of “middle class”.
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Yeah, even as a free market guy, I think that has a huge impact on worker anxiety in the US. Most people are not ambitious enough to always be planning for the next job so losing a job or pay check is a huge set back.
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