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Comment Re:Do not get fooled by Keynesian arguments (Score 1) 294

I did the math once. It takes a decade of work to get enough money to buy a house here. That's assuming you save it all and don't spend a dime on things like food, clothes, transportation, housing, etc. In my grandfathers time, who bought the house may parents live in, he saved the money for it in two years while working two jobs. That's the difference. It used to be like 3 years salary and now it is 10.

Low people don't care to progress because they know the chance of them actually succeeding is near that of winning the lottery. So why bother.

You are wrong though. The living standards in the US started getting worse when personal income taxes for the rich went down and the loan rates went down.

When loan rates go to zero house prices tend to infinity. Also back when personal income taxes for the rich were higher they would rather keep the money in their corporations and increase net wealth creation via empire building.

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