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by dukeluke
3410 days ago
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America has an advanced economy, with a GDP per capita of over $50k. As such, the cost of living is much higher than many other countries. You need a vehicle to work almost everywhere, healthcare costs are the highest in the world, housing is becoming more and more expensive, and one must go tens of thousands of dollars in debt to get a degree. This was alright when incomes were more equal and rising, because these costs could be recognized as a cost of living in such a good country. Due to globalization, however, the lower class has been gutted due to corporations exploiting the fact that other places have lower costs of living and lower workplace standards. I could argue that this destabilization of the lower class is a large part of why Trump was elected. And now globalization is affecting the middle class(particularly among IT workers) enough to risk destabilizing the only few remaining good jobs left, all while the stock market is doing better than ever. This loss of good paying jobs with the cost of living remaining high means the quality of life for most of the country will go down while the rich get richer faster. When the overall economy is growing, why SHOULDN'T the country overall benefit? |
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