But there's no income inequality

[Jim in CT]

Originally Posted by Pete F.

Several things that made the middle class are different today.
People were trained and promoted from within.
Before we were married my wife rented an apartment in someone’s Vermont home that was the Head of one of the big brokerage houses on the NYSE
He started in the mailroom and worked his way up.
My father started in aerospace out of HS and worked his way up.
These guys knew what the people below them do and they were not just occupants of a cubicle.
Corporations acted as important members of communities and felt responsible to them and their employees and also their shareholders.
With the prevalence of the MBA
Shareholders have become #1 and employees and communities are just a somewhat necessary evil.
There were also strong unions that stood up for their members and increased wages and benefits which then raised opportunities across the board.
Posted from my iPhone/Mobile device

“communities are a necessary evil”.

gimme a break. you spout off all these vague generalizations which can’t be proven nor disproven. i worked at aetna, travelers, and the hartford, all
werenterrific
corporate citizens.

you are correct when you say companies are leaner and
more efficient. the downside is reductions in employee perks. what you
conveniently
left out, is that the upside
is lower prices. do you never ship
for the best price? how do you suppose “best price” happens?
Posted from my iPhone/Mobile device

[Pete F.]

Originally Posted by Jim in CT

“communities are a necessary evil”.

gimme a break. you spout off all these vague generalizations which can’t be proven nor disproven. i worked at aetna, travelers, and the hartford, all
werenterrific
corporate citizens.

you are correct when you say companies are leaner and
more efficient. the downside is reductions in employee perks. what you
conveniently
left out, is that the upside
is lower prices. do you never ship
for the best price? how do you suppose “best price” happens?
Posted from my iPhone/Mobile device

You think corporations on a whole are better citizens than they were 50 years ago based on several large insurance companies
50 years ago minimum wage was $1.60
Trucks cost less? $2318
Medical care costs less? Less than $500 per capita
Housing costs less? $26600 average
Posted from my iPhone/Mobile device

[scottw]

Originally Posted by Pete F.

50 years ago minimum wage was $1.60


Posted from my iPhone/Mobile device

this is shameful...how was anyone supposed to live on this?

[Rmarsh]

Originally Posted by scottw

this is shameful...how was anyone supposed to live on this?

A mentor of mine, older guy who I got advice from, once told me,
"Bob, if you ever want to get ahead, 40 hours a week wont cut it"

So I got two minimum wage jobs and doubled my take home pay.
I was also very careful not to spend a penny on anything non essential. I started at minimum wage but moved up through the ranks by applying myself and committing to learn the carpentry trade.

In my view forty hours a week isn't all that much. We sleep more hours away in a week than that. Hard work pays more than just a wage, it builds character and self reliance......is that wrong?

[Jim in CT]

Originally Posted by Pete F.

You think corporations on a whole are better citizens than they were 50 years ago based on several large insurance companies
50 years ago minimum wage was $1.60
Trucks cost less? $2318
Medical care costs less? Less than $500 per capita
Housing costs less? $26600 average
Posted from my iPhone/Mobile device

"You think corporations on a whole are better citizens than they were 50 years ago "

No. But I think prices for most consumer goods are far cheaper, relative to average income. Corporations are leaner and more efficient, which means more stingy compensation for employees, but lower prices for consumers.

Pete, if I opened a pizzeria in your town, and I paid my bus boys and cashiers $15 an hour with benefits, a large pie would cost $40. Would you eat there? No.

People want low prices, and then complain when companies do what they have to do, to deliver low prices. You seem like you want low prices and generous employee compensation. I'd like to have a thick head of curly blond hair and washboard abs. But this is the real world, not a fantasy world. You can't have it both ways. Do you understand that prices are a function of costs?

There are a million ways to be comfortably middle class, you just need to be thoughtful, and avoid stupid decisions. Helps to have good parents.

Most goods cost less, relative to average income, not necessarily in absolute dollars. But not big items like housing and healthcare and college.

"wow your towing the party line hard "

Not even close. I said in another thread that we should increase capital gains and dividend tax rates. Pete, I disagree ALL THE TIME with conservatism. What are the biggest items, on which you disagree with liberals? Because I never see you do it.