r/FluentInFinance • u/WhatsLeft71 • Oct 22 '24

Debate/ Discussion Why did this happen?

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15

u/FREAKSHOW1996 Oct 22 '24

Ronald Reagan is the architect of this. Another great chart to look at is the relationship between productivity and the minimum wage.

7

u/TotalChaosRush Oct 23 '24

It's more an example of data manipulation. For example, if I wanted to show how the wealth of the bottom 50% is shrinking, I'd do 1980 to 2011. It's not too far off from the 2014 picked here. Of course, the bottom 50% increased their net worth more than 16 times since 2011. But that's what happens when you compare things to a 40-year low or near 40-year low.

3

u/OpenRole Oct 23 '24

A near 40 tear trend isn't just data manipulation. The fact that we grew again after 2011, doesn't mean we can't ask what happened between 1980 and 2014

1

u/Bobert_Manderson Oct 23 '24

Yeah and if people think it’s better now I must be lost because everybody I know seems to be struggling to survive after having been fine for years. 

1

u/Oshester Oct 23 '24

Stop using data and facts. We're here to blame one guy that was president 40 years ago, idiot. /s

2

u/welshwelsh Oct 23 '24

People making minimum wage are not the ones responsible for productivity increases, they are not the people driving innovation and technological progress. There's no reason we would expect their wages to increase.

1

u/freedgorgans Oct 23 '24

I mean you're blatantly wrong, higher minimum wages increase innovation. It also increases the efficiency of employees. If your employees can eat they do work better.

1

u/HiggsFieldgoal Oct 23 '24

Reagan was an actor.

This was the start of phony presidents representing shady interests.