(November 4, 2020 at 4:55 pm)Rev. Rye Wrote: Living paycheck to paycheck after increases to the minimum wage? It’s weird, it’s almost like these increases just aren’t enough to allow them to save.
It's not just those in minimum wage positions. Most mid- to lower-middle class families live paycheck to paycheck. The only real difference is typically a mortgage vs. renting and maybe a car with a year or two left on the warranty instead of a car a few years past it. And maybe a hobby car in the garage where the hobby is breaking down and re-assembling different parts of the car. Note, I did not say rebuilding. That actually takes discretionary income.
50 years ago a guy with a high school diploma could apprentice with an engineer to become a drafter and support a family quite easily. These days, more and more companies are requiring the people who do their drafting to be degreed engineers and for most of them, their wife has to work as well. But, guys like OLB still want to believe that the bootstrap method is viable.
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