
Originally Posted by
FoxtArt
Nice strawman, of sorts.
If you think the US would be a great place if everyone from McDonalds workers to doctors earn closer to the same wage, while Elon is worth a trillion, well....
What happens when you give massive income increases to the bottom denominator? Do they actually earn more?
Hell no. The services increase proportionally. Restaurants are so high because food costs and labor costs have dramatically increased. Inflation increases proportionally. Ultimately, they make the same value that they did, just with a larger number associated. Meanwhile, the middle earns less value. The top, proportionally, actually earns more. You slowly "disappear" the middle class. This isn't sky is falling, it's statistically been happening for a while (and yes, this only a part of the cause).
It used to be, "quote" American dream, a person could invest in themselves in either education or trade, work hard, and readily get into a career that made 4x, or 8x minimum wage. They could raise a family off a single income and buy a house in their 20's or 30's.
Now, it's increasingly uncommon to make 3x minimum wage no matter the education or trade. There are essentially no single income typical families that can buy a house in their 20s or 30s.
As this trend continues, where it is increasingly uncommon to make 2x, or even 1.5x minimum wage in Colorado, and more of the population transitions into apartments, and you "disappear" the middle class entirely, is that what you want to see? Everyone earn roughly the same wage regardless of effort or intelligence, and then have the ultra-wealthy on top?
[That is what has slowly been happening]