- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
To be clear: this isn’t the “we stopped paying promised grant money” but is literally the federal government yanking money out of an NYC bank account.
To be clear: this isn’t the “we stopped paying promised grant money” but is literally the federal government yanking money out of an NYC bank account.
GDP grow faster helps everyone.
Can you actually explain why you think that?
How does a faster growing GDP help someone in poverty?
We are talking about relative poverty. A person in poverty in the US is much better than a person in poverty in North Korea.
No one is talking about North Korea. We are talking about poverty in America then vs now. Trying to move the goalpost to include a completely unrelated datapoint is pointless.
You also completely ignored my rather direct question.
I didn’t move the goalposts. I mean to show you why economic growth can help the poor. US has much higher economic growth than other developed countries in the last four decades.
That doesn’t help people in poverty.
You’re not explaining how a faster growing GDP helps someone in poverty. Do you not understand what the word poverty means?
Poverty rate
Relative poverty rate didn’t go up from 1980. The key is word is “relative”. With faster economic growth, the people in poverty are much better off now compared to 1980.
No, they aren’t. Poverty is poverty. You don’t get better off because your neighbor has more money. That’s just not how poverty works.
America’s economic outperformance is a marvel to behold
"In 1990 America accounted for 40% of the nominal GDP of the G7, a group of the world’s seven biggest advanced economies, including Japan and Germany. Today it accounts for 58%.
America’s outperformance has translated into wealth for its people. he ultra rich have indeed done ultra well. But most other Americans have done pretty well, too. Median wages have grown almost as much as mean wages. A trucker in Oklahoma can earn more than a doctor in Portugal. The consumption gap is even starker. Britons, some of Europe’s best-off inhabitants, spent 80% as much as Americans in 1990. By 2021 that was down to 69%."