intergenerational earnings elasticity

[avignon]

What kind of hope do you have for the future? Think you will earn more than your parents did? I'm guessing no for most.

[Myu-to]

Elasticity makes me think of underwear.

And, no. Not a chance.

Not that I'm not doing well, however, my dad was an attorney for an oil company.

[Kid Presentable]

Our taxes will be a fuckload higher regardless of what we earn due to the eroded revenue base of an ageing population (i.e fewer carnts available to pay tax).

Good luck to future generations hoping for any sustainability initiatives which just look like luxuries next to essential shit like roads, schools and hospitals et al

[Myu-to]

Damn.

I should have realized that this was a fancy word thread.

:o

[Kid Presentable]

Say something like 'Fundamental paradigm shift' and you're laughing (y)

[kaiser soze]

As reports continue to post losses in wages/benefits I have my concerns. Add inflation to a steady and high unemployment rate while job prospects continue to be outsourced and corporations use taxation as a form of blackmail and what do we have left....

Becoming China's bitch someday?

50 years ago a man could work at an Appliance store without a college degree support a family with 2 kids, a house, a car with a stay at home wife and retire comfortably. Now the new workforce is quickly becoming temp agencies, elderly are working as greeters and fast food preparers and many young professionals are finding it hard to get sound employment footing.

For some it's a fight to just get to the bottom of the ladder with a Master's Degree.

http://news.yahoo.com/s/yblog_thelookout/20110614/bs_yblog_thelookout/workers-share-of-national-income-plummets-to-record-low

http://www.epi.org/publications/entry/unemployment_rises_recovery_remains_on_pause

[Myu-to]

uh...

umm...

flux capacitor.

1.21 jigawatts.

[Kid Presentable]

.

Becoming China's bitch someday?



Hahah, someday? China could rock up in Manhattan tomorrow and demand it as interest for what you owe them.

That said, Australia actually is China's bitch.

[Fern]

i'm already making more than my parents. sounds wierd to sy that

[ms.peachy]

Me personally no, I am not a high earner (especially now, since I can't really legally work here) but mr.p already outearns his father and his mother put together, if their salaries, from, say, 1980, were adjusted for inflation. However his dad worked for the phone company when it was still THE phone company so he had some more intangible benefits mr.p never will - long holidays, short workdays, etc.

Since we are already in China laying some groundwork and Baby Peach is coming along nicely with her Mandarin, I like to think that hopefully she'll be fairly well positioned for the future. We're already in 'bitch' mode, you see.

[avignon]

I have a theory that most Americans below a certain age still believe that they are going to "strike it rich". Mostly it's based on the number of young people who work for me that tell me that it's a temporary job for them because they are destined to become independently wealthy.
Maybe it's not just Americans. Maybe it's just young people. Or optimistic people.

[taquitos]

my mother is jk rowling and my father is oprah.


so, yes.

[cosmo105]

I'm going to be paying off student loans/credit card debt from school for a long time, but eventually I should be pretty set. My mom makes great money but is a single mother and had a lot of debts a few years back, so she hasn't been able to save up much. I really would like to help take care of her when she retires, but don't know how likely that is :(

[Fern]

my mother is jk rowling and my father is oprah.


so, yes.

(y)

[jabumbo]

are we talking before or after i hit the lottery?