Let me assure you that people not understanding extremely basic economics come from all walks of life.
In fact, I was just listening to a random, she must’ve been 60 year old woman and her mother in a waiting room rant about “how is prices going up with inflation going down”.
I’ve been working for 20 odd years now and still have coworkers who started the day I did rant “these fucking forced union wage increases! Don’t they know that I’ll hit a new tax bracket and then take home less money than before!”
These people are 40+ years old. They should know better.
The misconception of tax brackets is also frustrating. Tax brackets are marginal. If a tax bracket cutoff is, say, 10% at 100k, and you cross it to 110k, only 10k is taxed at 10%. The other 100k is taxed as before.
The last 3.5 years have also screwed with peoples' sense of time, it's really common to see measures that normally get compared year-to-year instead get compared to 2019.
Yes. But in fairness, inflation was basically zero for a decade before that. So it's kind of "since inflation (re)started", which makes a kind of sense, even though it's hard to compare to all the reported figures, which are annual.
In fact, I was just listening to a random, she must’ve been 60 year old woman and her mother in a waiting room rant about “how is prices going up with inflation going down”.
I’ve been working for 20 odd years now and still have coworkers who started the day I did rant “these fucking forced union wage increases! Don’t they know that I’ll hit a new tax bracket and then take home less money than before!”
These people are 40+ years old. They should know better.