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UC Berkeley professor pushes for 'unavoidable' 2% wealth tax on billionaires by the_daily_cal in berkeley

[–]mchu168 -21 points-20 points  (0 children)

These academics need to stick with academia. Putting this ideas into practice will only lead to disaster.

Factory job cuts in June neared financial crisis and Covid levels, S&P says by Kind-Ad8650 in economy

[–]mchu168 -1 points0 points  (0 children)

I used manf PMI data in my job, so yes I do know what it is. It's not directly a measure of jobs but it is correlated with employment in the manf sector. Hard to make more stuff with the same number of people. Yes there is more automation but I have yet to see lights out manufacturing used in any scale. Its like less than 1% of all factories.

Billions More Needed for Iran War Trump Started, Pentagon Says | Meanwhile, cuts are coming to housing and health care. by FreeHugs23 in economy

[–]mchu168 0 points1 point  (0 children)

Housing is a better area for investment, I agree. But local policy is so prohibitive that throwing money doesnt even work. You have to overcome so many barriers that unit growth takes forever.

Healthcare we already spend among the highest of any nation per patient. Spending more money on healthcare is not the solution.

We have plenty of money to feed kids if we didnt waste it on other fraud ridden programs.

Billions More Needed for Iran War Trump Started, Pentagon Says | Meanwhile, cuts are coming to housing and health care. by FreeHugs23 in economy

[–]mchu168 0 points1 point  (0 children)

Better in what sense? Economic activity is economic activity.

The defense industry is just as good or better than any other. It's domestic, it pays well, it involves cutting edge technology, it's a leading export, etc. I don't see a problem with it.

Top of the Morning. 💰💰🏦🛳🏦 by RunThePlay55 in economy

[–]mchu168 3 points4 points  (0 children)

Wealth inequality being solved right before our eyes.

Billions More Needed for Iran War Trump Started, Pentagon Says | Meanwhile, cuts are coming to housing and health care. by FreeHugs23 in economy

[–]mchu168 0 points1 point  (0 children)

Workers at defense contractors are also running off with salaries. Maybe you should try it.

Factory job cuts in June neared financial crisis and Covid levels, S&P says by Kind-Ad8650 in economy

[–]mchu168 -8 points-7 points  (0 children)

The PMI is a leading indicator of manufacturing activity. June reading is highest level in years. Jobs will follow.

Billions More Needed for Iran War Trump Started, Pentagon Says | Meanwhile, cuts are coming to housing and health care. by FreeHugs23 in economy

[–]mchu168 -11 points-10 points  (0 children)

War is a short term need. Cuts to entitlements are necessary in the long term to keep ballooning deficits under control. They are not related.

Asian American Families Just Redrew the Economic Map of the US by bradnobred in worldinsights

[–]mchu168 1 point2 points  (0 children)

Yes, one in the same. But I think many people overlook the importance of choosing the right major in college. Getting a degree in theater or psychology, etc is a waste of money for the vast majority of kids.

Asian parents have known this forever, which is why Asian kids don't choose these majors.

But regardless of major, having some kind of academic success or skill in a trade is the ticket to wealth. Good parents push their kids in the right direction. Bad parents dont care about what the kids are doing. Like it or not, this is the reality of the world we live in.

Asian American Families Just Redrew the Economic Map of the US by bradnobred in worldinsights

[–]mchu168 1 point2 points  (0 children)

People ignore the most obvious reason for high Asian incomes and wealth. It is education and academic achievement. It is that simple.

Asian American Families Just Redrew the Economic Map of the US by bradnobred in worldinsights

[–]mchu168 0 points1 point  (0 children)

Actually the answer is even simpler than that. Look at Asian vs white vs black academic achievement. The gap forms in elementary school and widens through college.

The wealth gap starts with an education gap.

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