Discover and read the best of Twitter Threads about #DebtJubilee
Most recents (4)
How much would the Cost of Living Fall if we moved off a system predicated on Debt and to one predicated on Savings?
For example, a House in 1940 went for $2,938. Minimum wage was 40 cents an hour. Federal Taxes were 4% up to the average per capita income versus 11% today.
For example, a House in 1940 went for $2,938. Minimum wage was 40 cents an hour. Federal Taxes were 4% up to the average per capita income versus 11% today.
This meant it took 7,651 hours to pay off a house if you saved every penny earned after taxes or 3.82 years of labor.
Fast forward to today, minimum wage is $7.25 an hour or $6.45 after Federal taxes (not including State and Social Security). The median home value in America is
Fast forward to today, minimum wage is $7.25 an hour or $6.45 after Federal taxes (not including State and Social Security). The median home value in America is
$334,000. This means it would take you 51,762.88 hours or 25.88 years earning minimum wage (saving every penny after taxes) to pay off a median valued home. This is almost 7x (6.765 to be exact) as much.
We are earning 1/7th what we were in 1940 when you look at what you can
We are earning 1/7th what we were in 1940 when you look at what you can
We deserve $47 trillion, not $1,400.
Here's why the next stimulus must consist of $7 Trillion in direct financial relief, not including a cancellation of all student debt and medical debt in a #DebtJubilee.
A THREAD. Please share--I think everyone needs to know this.
Here's why the next stimulus must consist of $7 Trillion in direct financial relief, not including a cancellation of all student debt and medical debt in a #DebtJubilee.
A THREAD. Please share--I think everyone needs to know this.
By now you've probably seen this chart on productivity and compensation, creating a wedge like decoupling in the 1960s.
If we fill in the wedge, how many dollars are represented?
If we fill in the wedge, how many dollars are represented?
According to RAND (not exactly a lefty institution), the dollars represented by that wedge is ~$47 trillion.
Every year we tack on ~$2.5 trillion.
Make no mistake: this money is being STOLEN from you.
You're not a charity case; you deserve reparations.
rand.org/blog/2020/10/a…
Every year we tack on ~$2.5 trillion.
Make no mistake: this money is being STOLEN from you.
You're not a charity case; you deserve reparations.
rand.org/blog/2020/10/a…
Well, the @freelancer #COVID19 survey was pretty good. Here are all my answers... imgur.com/gallery/mJ7wVNM
100% remote or bust.
We're right on track to $DJIA 60,000 and stealthy hyperinflation for the Bottom 33%...
Patience and Diligence - Gold Technical Analysis: "Make the market prove to you it wants to do something, don’t try and prove to the market it should do something." - by @TraderStef for #CrushTheStreet #TechnicalAnalysis #Gold crushthestreet.com/articles/preci…
