U.S. Politics

[Badger]

It's sad how many times I've had to explain this to people older than me.

https://today.yougov.com/politics/articles/5057-understanding-how-marginal-taxes-work-its-all-part

[Johnny English]

It's sad how many times I've had to explain this to people older than me.

https://today.yougov.com/politics/articles/5057-understanding-how-marginal-taxes-work-its-all-part

Same. The level of financial literacy is frighteningly low; I was listening to a podcast yesterday (Plain English with Derek Thompson from The Ringer - it's very good) in which they said that a Federal Reserve Bank of Boston survey asked "what do you think should happen to inflation when interest rates go up", and only 39.4% of respondents correctly answered with "inflation should go down". Or in other words, something like 60% of Americans thought that rising interest rates causes inflation. These people are making voting decisions based on economic considerations when they don't even understand the most basic principles of money.

[Badger]

I remember an old TGG post circa 2008-09 where someone claimed their wife would have to stop working because they couldn't afford the taxes on her additional income.

[dcm1602]

Same. The level of financial literacy is frighteningly low; I was listening to a podcast yesterday (Plain English with Derek Thompson from The Ringer - it's very good) in which they said that a Federal Reserve Bank of Boston survey asked "what do you think should happen to inflation when interest rates go up", and only 39.4% of respondents correctly answered with "inflation should go down". Or in other words, something like 60% of Americans thought that rising interest rates causes inflation. These people are making voting decisions based on economic considerations when they don't even understand the most basic principles of money.

Looking at peoples credit cards and car loans is 10,000x more scary than this

I can care less if someone can't understand governmental policy/theory etc

I'm much more terrified when you realize the large majority of the country is paying astronomical percents of interest on nonsense.

Hell I forget the actual numbers but there's been a massive spike in check cashing places or places that give you an advance on your next check. And the rates on these are insane

People being clueless on governmental policy is eh. But people being completely clueless on their own personal finances,  the worst

[Badger]

I'm much more terrified when you realize the large majority of the country is paying astronomical percents of interest on nonsense.

Hell I forget the actual numbers but there's been a massive spike in check cashing places or places that give you an advance on your next check. And the rates on these are insane

People being clueless on governmental policy is eh. But people being completely clueless on their own personal finances,  the worst

And you attribute this to education rather than desperation?

The *spike* in it is a pretty clear indicator that it's due to people's material circumstances and not some sudden drought in financial literacy.

[Badger]

Tom Cotton implying vehicular manslaughter as a form of counter protest was certainly something.

[Johnny English]

And you attribute this to education rather than desperation?

The *spike* in it is a pretty clear indicator that it's due to people's material circumstances and not some sudden drought in financial literacy.

I think you're probably both right to some degree.

[dcm1602]

And you attribute this to education rather than desperation?

The *spike* in it is a pretty clear indicator that it's due to people's material circumstances and not some sudden drought in financial literacy.

It's likely a combination of both, but I'd wager education (or overall intelligence) has to be the bigger factor when you're willing to fork over chunks of your income for prolonged periods of time

[Badger]

It's likely a combination of both, but I'd wager education (or overall intelligence) has to be the bigger factor when you're willing to fork over chunks of your income for prolonged periods of time

Key word is willing. Only takes one bad week or month before some of these people are trapped in the cycle. Then they don't have a choice.

[dcm1602]

Key word is willing. Only takes one bad week or month before some of these people are trapped in the cycle. Then they don't have a choice.

Do you genuinely think thst more than 50% of people who use these things can't make it another several days without the check?

Like I 1000% acknowledge that excrement hits the fan and some people have no choice.

But most of the time you're talking about someone who still manages to pay for their iPhone/cigarettes/beer/cigarettes/drugs/guns/lottery tickets whatever nonsense

The reality is the vast majority of time people are using these services is just a stupid thing

[Johnny English]

No funding shall be made available to Ukraine unless restrictions on ethnic minorities’, including Hungarians in Transcarpathia, right to use their native languages in schools are lifted.

Anyone want to take a guess where that's from? Anyone? That's right, it's from one of Marjorie Taylor-Greene's proposed amendments to the Ukraine bill that was passed yesterday. I'm a little surprised that the people from Georgia's 14th district are so concerned about Hungarian independence, but surely US politicians can't be proposing legislation written for them by Russian lobbyists keen to ensure that its far right allies continue to support their illegal invasion, would they?

I say that if she can point to Transcarpathia on a map then she should get her amendment considered.

[Badger]

Perfect microcosm

https://twitter.com/coopercooperco/status/1782438289082892606?t=gv-0pzy7dblpqiQwD4ErzA&s=19