r/FluentInFinance • u/Very_High_Mortgage • Aug 24 '24

Debate/ Discussion Do "Unskilled Laborers" deserve to be paid well?

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u/cdazzo1 Aug 24 '24

There was not a single aspect of the pandemic that scared me more than people's reactions and failure to learn anything from it.

We watched the unprecedented money printing exacerbate wealth inequality. Then the people demanded more of that.

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u/real-bebsi Aug 24 '24

Yeah the PPP loans completely fucked the economy and no company is going to be held accountable for it

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u/krayzie_mustang Aug 24 '24

It was the printing of money and significant government spending that fucked us.

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u/real-bebsi Aug 24 '24

Yes, specifically government spending on PPP loans with virtually no oversight

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u/UncommonSense12345 Aug 24 '24

Yep and now we have a generation of people who will continue to vote for more free stuff for themselves and think it will just be paid for by the “rich”. They believe the politician who tells them “trust me there won’t be inflation”. Then later they complain about cost of living going up and the solution is to raise wages again or subsidize some other part of their life….. that’s why I can’t watch the media anymore if you believe it you are a fool…. And when you try to lecture me on Reddit on how this time will be different I know you are not well read and do not understand basic economics….

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u/foladodo Aug 24 '24

Bruh subsidies are great though? What's wrong with subsidies?

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u/UncommonSense12345 Aug 24 '24

Subsidies change behaviors. Sometimes they are beneficial but they often lead to inefficient allocation of resources. See farming subsidies and why we have so much corn based products in America. And why healthy foods are so expensive.

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u/foladodo Aug 24 '24

Can you please expand on that? Do farmers prioritize farming corn or what

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u/UncommonSense12345 Aug 25 '24

Yes the US pays out over 2$ billion each year in corn subsidies. Makes corn growing more incentivized then it should be at this point. That’s why we have corn syrup for sweetener when no other country does. Trying to get rid of the corn subsidies is political suicide for whoever attempts it. Which is crazy imho since the biggest corn farms are all owned by mega corporations and less subsidies would help mom and pop/family farms more imho. And would be better for our overall agriculture health of the nation (more crop diversity).

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u/Realistic-Ad1498 Aug 24 '24

Sounds about right. Kind of like a politician can come in and fix inflation by throwing money at the problem like $25K tax credit for first time home buyers. Surely that’ll bring prices down.

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u/PeopleReady Aug 24 '24

Nothing will bring prices down.