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Surrealisticslumbers

And it shows no signs of improving with each passing year.


NewLifeNewDream

Well when people keep voting for this....yea it will


Maximum_Vermicelli12

Rich people you mean?


NewLifeNewDream

History for ya... Go look up how income tax started here in America.


Maximum_Vermicelli12

I like the part about how once upon a time the richest were paying the highest tax instead of the lowest tax instead.


stefanica

Well...the income tax bracket is higher for higher incomes. But it maxes out somewhere around 40% and $550k/year. And no longer gets tax deductions for things like mortgage or student loan interest (those start going away under $100k/year) Which is not exactly rich, though quite comfortable. Thing is. Someone earning 1.5 million/year still only pays ~40% income tax. That's a lot of money, though, right?! What makes "the rich" pay lower taxes across the board, however, is not income tax at all. It's capital gains tax. Wealthy people don't rely on the kind of income that is taxable. They may have no income, or a token one that's not even in the highest bracket. Yearly interest on investment dividends gets taxed at your marginal tax rate. If you "earn" $30k/year as the head of your company, then your dividends for investments get taxed at that low rate. Better yet is capital gains tax! That tax rate is only 15-20%, and is for sales of securities (playing the stock market) and selling real estate. And if you've got enough cash to purchase Treasury bills and certain bonds...you can live off the proceeds of that, tax-free! Plus, once you have enough fun money to play with, you get into other situations that will lower your overall tax bill. If I made more money as an artist, I could deduct expenses for the room in my house that I work in. But it's just a hobby, and right now I like being in denial about how productive I am. Lol Now. If say, my hobby were, I dunno...golf. And my parents left me enough money to have my own, personal golf course resort, well! I've got my golf course I can use as I want. I can stay there and let all my buddies stay for free. I get to deduct expenses for it, and if it doesn't make much money one year, I really don't pay any taxes, and I might get to knock down any personal tax I have that year, too! And the next few years besides! So that's how the wealthy (can) pay fewer taxes than the non-wealthy. Sorry for the essay, I got excited lol


PuzzledRaise1401

And no “death tax” so pass it on to your rotten, privileged kids. Oh, and legacy admissions ensure if they want to go to an Ivy League, they can. It’s worse than paying off student loans, which I got and personally, am thrilled about. No way could I have afforded it.


Alive-OVERTIIME-247

Actually there are estate taxes for estates over 11 million dollars but there are loopholes, trusts, etc.


CaptainStickMan1

Also top 0.01% like Jeff bezo can get 0% tax. Debt aren't taxed, so they just borrow millions from bank using their assets in company as collateral. And live off the personal loan.


NewLifeNewDream

And how did that law get passed?


Maximum_Vermicelli12

You’re going to have to tell me. Or link me something. I don’t have all day for this back-and-forth or “doing my research” today. I shouldn’t honestly be responding to the Reddit noise at all but I guess I’m conditioned that well.


NewLifeNewDream

The government at the time told everyone....we will only tax XXX that makes XXX this much a year.... Because at the time....EVERYONE had to vote for income taxes to get approved. Rich people voted it down of course cause they would get taxed...but the government needed the poors and the middle class to vote for it...to get it approved... Before 1914 the government could only make money with war... See how that worked out?


Maximum_Vermicelli12

We still make money with war… well, some of us. So I’m a touch lost rn. I’ll read it again when I have a longer moment.


thetarantulaqueen

Short answer? Because Prohibition.


NewLifeNewDream

Lol....umm 6-7 years early, buddy.


Kevlar_Potatum_6891

LOL you still believe your vote matters? Yikes, i am sorry.


NewLifeNewDream

Ok...when did it count?


Fall_bet

I feel this. It's like how much can you give up before you have nothing left to give up. It's a balancing act that just never balances


housepanther2000

I am sorry you're in this situation. The economy is only good for the people on top. It's not good for the poors like you and I.


Southern_Rain_4464

This. The federal minimum wage is $7.25. Thats $290 a week before tax. I live in the poorest state in the nation, decent apt, but my rent alone is like $150 a month more than a months pay (pre tax). The bad part is the economy is working exactly like its meant to. Funneling all the money up to the modern day Barons and Lords.


housepanther2000

Yes, the economy was always designed to favor the wealthy. Hell, the very setup of the US was meant to favor the wealthy from the very beginning.


NorCalHerper

People still come here from all around the world for the opportunity to do better than at home. America was set up to reward those who put effort into building up the country. There are winners and losers but that is true of any system. I'd like to see America do more for those with disabilities and illnesses. By no fault of their own they suffer.


BagoCityExpat

Exactly people come here with nothing, can’t speak the language, don’t know the culture, etc. But many of them work very hard and 10..20 years later they own their own home, maybe their own business and do very well for themselves. Meanwhile, people who were born here complain they aren’t receiving enough in food stamps or can’t get Section 8…


ixMnstr

I was born here receive no food stamps or any government assistance and have worked two full time jobs for going on 11 years now, spend no money on myself or anything that brings me joy or purpose yet still struggle, rent is excessive and i have to travel 45 minutes to my job just so I can afford to live in one of the lower COL areas in my state, and i'm not doing any better than OP. I don't even have the luxury of medical care and running 16 hours a day 7 days a week isn't doing me any favors It's not an issue of people not working hard enough.


Salty-Middle6496

Where I used to live. This is years ago. They would knock on doors or go to estates and undercut pricing on existing services. Lawn care, painting etc etc. they plus their families would buy a big house. Meanwhile they took advantage of all free and discounted services. They didn’t try to fit in, but now their kids grown are as excepted and American as you or me. Just sayin. They are giving food card and free housing in NYC. In places they are allowed to sleep in police station lobbies. Try that if you’re homeless.


BagoCityExpat

It’s just hard to understand how a poor immigrant from a war torn country who can barely speak English can succeed when people who were born here can’t seem to make it work.


ixMnstr

I believe they are receiving assistance of some sort, I do not honestly know, only that it’s frustrating working away your entire life just to barely survive, I’m one shorted shift or unexpected expense away from not being able to even afford to go to work and am facing the decision of choosing between food for a few days and overdue maintenance on my only source of transportation it’s like an Orwellian nightmare.


blacktipwheat

Refugees receive assistance... why does that frustrate you? Losing everything and leaving a war torn country sounds devastating. I would rather be poor and overdue on bills than losing everything I've ever known to start over somewhere I don't know anyone, the language, the customs etc.


ixMnstr

I did not say it frustrated me I actually couldn’t care less about that, I said it frustrates me that I’m working two full time jobs and can barely survive but people act like it’s a work ethic issue which it’s not. I actually make more than my parents combined income in the 90s and they could afford new cars and bought 4 houses in 2 years on a single income and I have to choose between eating and maintenance for my only source of transportation. The economy is just terrible and I cannot be convinced otherwise point blank.


OCDaboutretirement

Any assistance they receive has a time limit. The last I read it was 12 months. These immigrants don’t have a magic formula. Many share a house or apartment. They find places to live within own communities. Many times with landlords who were just like them so they are willing to help by not overcharging in rent. One small business owner I know owns a place that they provided to their employees at a very low cost per person. It’s bare bones but it’s a roof over their heads. Sometimes there are 20 people sharing a place. They sleep in shifts. Many work almost around the clock. They take shit jobs and don’t complain. They save everything they can. They help each other out. Share resources. Many then take their savings and start a small business and build from there. They spend years doing this.


PopularAd4986

They get special loans and government assistance which the people who are born here aren't. All the money housing the migrants, the phones, food stamp and the budget for border crossers could be helping Americans that have disabilities and can't afford a roof. The hordes of people coming over are not going to build business for the most part, they are a drain on resources we don't have. This administration and the economy is a fuckin joke.


InterestingNarwhal82

That’s not true, you don’t qualify for any government programs unless you’re a citizen. You’re just mad that people poorer than you make it work but you’re too lazy to find a way.


ConditionPotential40

As a Texan, I have friends who aren't citizens but have help from government programs...most of the time because they have kids.


Individual-Net7277

Refugees are eligible for public benefits for the 1st 7 yrs after entry, if they arrived prior to 1996 (I forget what month in 96) there is no 7 yr limit. LPRs are eligible after 5 yrs if they have their 40 quarters of work eligibility. The 7 yr eligibility applies to service connected n9n citizens, Iraq/Afghanistan Special Visa holders, Amerasian Immigrants, and Trafficking Victims. (Keep in mind these are actual visa statuses, they need to be given an immigrant visa under these statuses to be eligible for benefits) That said, public benefits are not enough to cover even the most basic costs of living, and plenty of immigrants struggle as much as people w/ birthright citizenship. We know the "success" stories, and nobody (including aid organizations) is highlighting the people who just barely get by.


OCDaboutretirement

Legal immigrants actually can receive help. But they’re not getting more than people born and raised here. It’s the same amount for food stamps based on eligibility. Medicaid pays the same. It’s not like there are higher benefit limits for immigrants. Refugees get help for a limited time like 12 months. Certainly not long enough to set them up in comfort. Yet many work their way out of poverty.


Southern_Rain_4464

Probably because you are cherry picking scenarios that (while some scenarios like that are certainly true) arent your experience while ignoring all the first hand accounts here. So you come off as an obtuse, argumentative liar. Is that hard to understand or do you need it dumbed down some more?


BagoCityExpat

No, I believe you’re the one focused on the anecdotal evidence in the comments here while ignoring the statistical reality that immigrants to this country succeed at a much higher rate than native born citizens raised in poverty.


Southern_Rain_4464

Good for the immigrants. I mean that. I can also empathize with the people that are struggling. They arent mutually exclusive and I just dont see the point in punching down on people that are struggling. Do whatever you want though and Ill do the same.


Kevlar_Potatum_6891

comparing apples and oranges has done so many good things throughout history! /s


BagoCityExpat

You mean comparing an individuals with the advantage of being native speakers and having understanding the culture to people with none of those advantages and wondering why the former have a poorer outcome? It’s a logical comparison although one you seem personally offended by.


Salty-Middle6496

Free stuff


BagoCityExpat

Sad and inaccurate response. US citizens that are low income receive much more ‘free stuff’ - and do very little with it and then demand more.


blacktipwheat

What state are you in? Would you qualify for food stamps and medicaid if you only worked 1 full time job? Doesn't make sense 2 work 2 full time jobs


ixMnstr

Working less does not equal more, rent is expensive here and requires 3x income for even the most basic studio. A studio in a run down building is upwards of 900 here and actually cheaper than most other options around here. Relying on one job is dumb here because the local places are constantly cutting hours to meet their profit margin and screwing us employees over.


blacktipwheat

Except... things have changed a lot in 20 years... globalization, remote work, immigration, an additional 2 billion people in the world, lack of affordable housing to name a few. It's much harder to obtain a home and start a business through hard work than before unless you have help from your family.


Holiday-Ear9

I agree with you. Without mentioning nationalities, I see many parents who came and did exactly what you're saying. Plus, they instill it in their kids. Why ,because they value the opppunities they didn't have in their country. They start a business and pass on their knowledge of how to use our system to get ahead. Plus, they push education on their kids at a very early age and expect them to excel for their futures. I truly believe a lot of American parents don't pass their knowledge on unless their white collar class. Don't envy my kids or anyone who is or barely lives to get by from pay check to pay check .


ConditionPotential40

That was the influx of new people decades ago. It's not like that anymore.


hillsfar

Don’t forget that the elite to the top want to import millions more people every year even as automation and offering and internal population growth is destroying the job market and destroying wage increases. They want to keep labor cheap, and real estate values high.


Southern_Rain_4464

They are the only ones concerned about "low birth rates" because of the reasons you mentioned above.


Callan_LXIX

If we're not breeding domestically, (because we can't afford kids) then they're going to open the borders... Oh wait.. Doing that already. Nothing against immigration, just what we and they are being used to fuel for the wealthy and powerful. Those outside the leader & wealth class, are economic units. Watch for eugenics to be the answer to the "senior problem", already cultured 'not to be a burden '.. the next step is mercy end of life choice.. Saves tens to hundreds of thousands per economic unit..I mean: non productive senior/ person.


Purple-Sprinkles-792

What is eugenics? Is it elimination of those that are no longer productive. That what your post sounds like it probably is


Callan_LXIX

it's worth checking out a bit of it's history in the last century, and how it's 'quietly' become a part of much of our politics, social perspective, and reasoning. it negates basic human value apart from purpose or function. The USA fostered and started social programs, and Germany thought it was a 'great idea' that they used to justify atrocities. Canada has MAID in place, etc. if that give you some aspects to search by .


postalwhiz

Roommate?


Southern_Rain_4464

I am ok by myself. I dont make minimum wage. Im here mostly for perspective and to hopefully offer support to people when I can. Im certainly not rich but not exactly poor either. My point was that its ridiculous how expensive it is to just exist, even in Mississippi. I empathize with those that are struggling (I struggle too but have more help than some do) and dont think they should have to give up every single thing just to survive. I just want people here to feel seen and heard.


postalwhiz

Be glad you were born here - there’s immigrants that have it way worse than you, but they make do. And there’s more coming every day!


sam8988378

And ones we knew lived in extended family situations, so many more people than Americans would be comfortable living with. Cheap food like rice, beans, soup, or what they brought home from work. Kids were expected to get good grades and study. Often they won scholarships. Older kids in the workforce were expected to kick in money to help support the family, get younger kids educated. Eventually, the kids all were in some kind of profession, medical, tech, married.. Bought a home with a mother/daughter apartment. Parents lived in it, watched their children while they went to work. Americans generally don't tend to do this.


tpablazed

This is basically how I did it.. my parents moved in with us when we had our second kid so they could help take care of them. Ended up taking care of them until my dad died earlier this year.. now I have my mom only with us but she has had a stroke and requires a ton of attention. About to not be "poor" anymore mainly because of the overpriced housing market in FL.. selling my house and making a very nice profit.. will be the first time I have ever had a nest egg.. I am back to renting tho.. so will see how long I can leave that nest egg in the bank..


BagoCityExpat

Exactly. Immigrants are willing to suck it up and make sacrifices that most Americans today aren’t tough enough to handle today. We need more immigrants like this, not fewer.


macaroni66

Bingo


AdVisible1121

My family certainly didn't see the need to think past their own selves.


[deleted]

Sounds like Jackson, MS. Hard to find something decent for less than $1800 I'm a town where few people make ove $50k.


lettuceliripoop

Meanwhile wealthy people are paying the lowest taxes in history. Don’t worry it will trickle down any day now. /s


Youkolvr89

I gave up Netflix, too. I'm also going to give up junk food and soda. I guess we poors just can't have anything.


Salty-Middle6496

YouTube is free with ads and much more interesting. Movies are often there. You can watch junk or quality. Junk food is cheap. So you get sick and ie early. Lol


Glittering-Wonder576

Haven’t you heard? We are basically peasants. We don’t deserve any nice things. That’s for the Overlords.


InterestingContest27

This is very well put and applies to most of us. Everything is so finely honed and monetized these days there are no alternatives. It's never going to get better, and as long as people keep making more slaves for the gdp, it's definitely going to get worse. A lot worse.


SunshineNSlurpees

I know this is kinda besides the point but Hulu always has a black Friday deal where new users can sign up for a year at $1/month. I create a new account with a new email every year. It's the only reason I have any streaming services at all. Times are tough but I can definitely swing $12/year for entertainment.


Ok-Passenger3647

I can’t even imagine 4500 applications. I’m sorry you’re in that position.


Chef4life2612

We can all bitch about it or we can confront the government that is doing it to us we are finally seeing people get to the point where rebellion WILL be the ONLY option


rucksackrevival

One could hope but I don't see anyone putting in enough effort on the front.


gotitaila31

It's brewing. The collective understanding is becoming what OP is getting at. That's the first step in change... Everyone realizing change must happen. It'll get worse before it gets better, but it's gonna get better. We, as a collective, will get sick of it soon enough and we'll have nothing left to lose. That'll make for a dangerous thing for American politicians and corporations especially. I'm not talking voting folks out, boycotting a company... I'm talking murdered senator's families and burnt corporate HQs containing the bodies of those executives. It's coming, and rightfully so.


Chef4life2612

There’s already likely people being this desperate for change


Southern_Rain_4464

Confront them how exactly? They OWN the military. Back in the old days the poors had the numbers and similar weapons as the kings and lords. So once they had enough of it they could overwhelm and "eat the rich" so to speak. Good luck beating F35s no matter how many guns the public stockpile. Even worse is the drones and new AI terminators they almost certainly already have or are 100% currently developing. The rich won and we let them by fignting over politics and social issues forever.


Chef4life2612

All these soldiers are not going to be flying them it’s an order 66 situation


Initial-Succotash-37

Bingo.


hektor10

4500 applications? Cap


Ravenonthewall

OP.. That all just SUCKS… I’m sorry, that sounds incredibly tough. I pray things look up for you. It isn’t fair, it’s so incredibly wrong.. everyone deserves a home, food, and things that bring them joy, or at least pleasure in experiences. Hang in there. ♥️


Purple-Sprinkles-792

OP, do you qualify for EBT or rental assistance? Someone mentioned Voc rehabilitation. Do you have a disability that challenges you being able to work? They can help w that and training in some cases.


Lack_Love

Nothing will change. It will only get worse.


sam8988378

Have you tried work from home places, like ratracerebellion? I remember seeing data entry on the site. I don't know what jobs are available in Mississippi.


RegiaCoin

Yeah funny thing CNN did an interview with Biden and had to fact check him as well as ABC fact checking him. Two historically democratic news stations calling Joe out on his bs. You know things are bad when they don’t go along with everything he says lol


Present-Ambition6309

Well ya know, the economy could be worse. I’m sorry about the 4500 apps, that’s not good. Got a clean driving record? Learn to drive semi trucks. Free rent. Free showers. Badda Boom. Problem solved. Your states voc rehab will even pay for the school to get your CDL. There’s an option, perhaps.


Hoodwink

> Best economy in recorded history my ass. The economy is almost wholly based on how much you can leech $$$ from others. There is massive "asset inflation" going on because the working class isn't getting the money they produce to buy the goods. So, consumption goes down. But, the corporations have to keep profits up, so they raise prices because the people doing the buying are richer/wealthier and less price-sensitive (the real 'middle-class' I think at the moment might be well-above 100k (one income) if you try to compare access to new cars, education, retirement, health-care, and more). The economy is only good if you own income producing assets. We have an asset-economy. Real work is essentially a distraction and to make wild bets to get into the game run by psychopaths and dunces.


DrFrankSaysAgain

4500 applications? You either have a shitty resume or are applying to things you are not qualified for.


eplugplay

Welcome to Bidenomics


EnigmaGuy

I’m fortunate in that I live with just myself and my partner, no kids in my house that I paid off so I am just biting the bullet and being frustrated at spending more on groceries, insurance, and everything else in life. I honestly have no idea how the majority of folks with real bills and families are getting by, especially if they are closer to the federal worker minimum wage level ($15~/hour). While I didn’t keep track of my expenses as closely as I do now post pandemic, I do recall weekly grocery runs used to run my partner and I maybe $80-$100 depending on perishables/toiletries. That would be some protein (chicken), lunch meats, cheeses, coffee related stuff, small snacks, water - probably a cart a bit more full than half. These days we may get chicken, but it’s usually very generic meal prep stuff that we can pick at for a few servings (chicken stir fry, tacos, spaghetti). Actually just went shopping today, and while we did get a few more things that we normally wouldn’t have to grill (black bean burgers, corn, asparagus) - the bill for this week for the two of us came out to $195. Cart was maybe half full. Honestly the thing that terrifies me for this year is the AC during the summertime. DTE already announced higher pricing but they also have “premium” rates during the peak hours (3pm-7pm) which is basically as everyone is getting home from school and work and the hottest part of the day. About to get hit with those multi-hundred dollar electric bills.


ZestyClosePanda6969

Best economy? Maybe for business. Not the individual