Comments by "whyamimrpink78" (@whyamimrpink78) on "DSA Members Press Dem Senator On Medicare For All" video.
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jojo
A wage would be better than a benefit, but in the end it is a form of payment an isn't taxed.
The payroll tax has increased in the past and continued to do so. Other factors include the Tax Reform Act of 1969, increase in immigration, increase of women in the work force, creation of OSHA, etc. Many government programs and government expansion took place. People point to wage stagnation as the fault of deregulation and the free market when in reality during the 70s government expanded quite a bit.
Many economists say that PCE is better. The Fed uses PCE as well. Why is the CPI better? The CPI is arguably archaic and needs to be adjusted.
It is impossible to account for every variable. Studies will admit that. Studies will say there are shortcomings in their work.
1. GDP growth is similar to wage growth. Wealth increases for all
2. Life expectancy means the way of living is better.
3. A poor person today is living better than a rich person 100 years ago. That is a fact. I earn $23,000 a year. I have a reliable car, nice meals, my own apartment, etc. Poor people have smart phones, AC, better cars, etc. If wages were stagnate than people would still be in the bad situation they were in the 70s. If wages were stagnate people would not have smart phones. But they do.
This is why wage stagnation is arguably a myth. It is also why very few talk about it as many indicators people are better off. Do you want the same wage people earned in the 70s with the same technology?
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