[quote=bearishgurl][quote=livinincali]How do you propose to reduce wealth inequality when consumer choices drive the wealth inequality in the first place. Every day a consumer goes to Walmart to buy groceries instead of the local grocery it increases the wealth inequality. Every time a consumer goes out and buys the latest and greatest iPhone rather than keeping the one they have increases the wealth inequality. Consumers making choice to consume and to go in debt to consume rather than save increases the wealth inequality. Every time you put more money into your 401K it makes Wall Street a little more wealthy.
What is wealthy? Taking a little bit from a lot of people. There’s plenty of stupid consumers that voluntarily give away a little bit of their productivity everyday.[/quote]
livinincali, I agree that it is often people who make themselves “poor” by their personal decisions on consumption.
I have commissary privileges so don’t shop at WalMart but I DO know that what food it carries is quite a bit cheaper than the Big 3 in SoCal, that is … Vons, Ralphs and Albertsons.
I can also see why a lot of people from all walks of life shop at 99 cent stores.
I prefer certain brands of food and household items and these brands can’t usually be found at 99 cent stores.
I think a lot of people who are considered “poor” or “near poor” make the consumption decisions they do because they have entitlements to help pay for necessities. If they didn’t, they likely wouldn’t be such heavy consumers.[/quote]
Well we could remove minimum wage completely then Wal-Mart could get away with paying them maybe 3 dollars and hour, or maybe only 20 dollars a day, then they could get even more profit and still sell stuff cheaper, all the while getting the taxpayer to supplement them even more, such a deal…
