Glad to see another optimist brave the haters, naysayers and cynics. Welcome home, Marc.
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The % of Americans living in poverty is almost exactly the same as in 1986, the first year on that chart (and middle of this chart), and the absolute number is 10 million higher. Shouldn’t the actual living conditions of real people be the part we care about?pic.twitter.com/eWwgITYqXP
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It looks like the % has stated in a 5% range for about 50 years. Not sure how that reads as a downward trend on anything but the most myopic scale.
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The number of workers earning poverty level wages decreased by 25% since 1986? Seems a legit thing to highlight.
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Maybe? I don’t know what the confounding factors are, or how these poverty metrics relate to inflation, cost of living, workforce participation, workers/household, etc. I’m glad for the apparently positive trend, but have seen lots of selective/distorted data in these narratives.
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Key thing is the takeaway: would people who see that first chart be inclined to think fewer people are now living in poverty & that things are headed the right way? And is that the case?
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Cool. "Mission Accomplished." Given the 1950s definition of poverty, $25k for a family of 4 breaks down that barrier of poverty. Unfortunately that's not regionally adjusted. So the Bay Area the struggle is real.
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You don't actually index for Quality of Life, you just causally say 'the world is better now'. What a $25k wage gets many today was lavish beyond what millionaires could imagine 100 years ago. If an analysis doesn't primarily center on QoL, it's almost voiding itself at inception
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We are on an economic bender right now with unsustainable fiscal policies and deregulation. The hangover is inevitable, just like most of what recent GOP administration'ys have left behind. In the wake of the next one, automation is likely to sharply increase wealth disparity.
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We need automation to fill the jobs that cannot be done or to leverage existing jobs. Give me the cyborg-finish carpenter/general contractor/HVAC repairman. Perhaps the AI doctor's office? Beam me up Scotty! People HAVE to work to 70 (ssi going bust, living longer, etc).
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Not following youy're point.
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The poverty line hasn’t increased as quickly as median wageshttps://upfina.com/is-poverty-down/ …
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In other words, they haven't been increasing the poverty line sufficiently, so the rate of poverty is surpressed. Right?
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I think this stat is in large part an illusory effect resulting from inflation. For example, in parts of the bay area a six figure salary is now considered "low income":https://www.mercurynews.com/2017/04/22/in-costly-bay-area-even-six-figure-salaries-are-considered-low-income/ …
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Is this poverty-level measure in relation to the explosive growth rate of housing and personal expenses?
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