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Rory Sutherland drops a sharp observation about the double-income trap that a lot of people quietly feel but rarely say out loud. It started as a nice option: two salaries, more money, better life. But over time it became something else. House prices rose to absorb the extra income....

79,560 views • 4 months ago •via X (Twitter)

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Why Ordinary Life Became a Luxury What this graphic is really showing is the slow transformation of what an ordinary life costs. In 1990, a household could still imagine that one decent income might carry most of the structure of adulthood. A home, children, health insurance, some expectation of education, some room left over for living. By 2026, income is much higher in nominal terms, but the things that define stability have risen much faster. The numbers on the paycheck grew. The purchasing power attached to them did not keep pace. That distinction matters because people do not experience the economy through GDP or nominal wages. They experience it through the mortgage payment, the insurance deduction, the tuition bill, the grocery cart and the question of whether another child would require another bedroom, another car, another decade of financial strain. Over time, the dollar has lost purchasing power, but not evenly. The cost of technology fell. Entertainment became cheap and abundant. At the same time, housing, health care and education became increasingly expensive. The things we can live without became easier to afford. The things around which we build a life became harder. And that changes families. The second income was once something that could create additional security. Now, for many households, it is necessary simply to maintain the same basic standard of living. Two people work because the mortgage requires two people working. Health insurance assumes continued employment. Childcare exists because both parents have to remain employed in order to pay for the house and the childcare that allows them to remain employed. It becomes circular. A family can earn more money than its parents ever imagined and still feel less secure because every dollar has already been assigned somewhere before it arrives. This is part of why marriage, children and homeownership increasingly happen later. These decisions have become financial decisions in a way they were not always experienced before. People calculate whether they can afford the second child. They calculate whether one parent can stay home. They calculate whether losing a job for six months would mean losing the house. None of this means earlier generations had easy lives. They faced recessions, high interest rates, layoffs, wars and their own forms of insecurity. What changed is the amount of leverage required to reproduce what used to look like an ordinary middle class life. And leverage changes people. It makes households more productive but also more fragile. It makes careers harder to leave, marriages more economically intertwined and mistakes more expensive. It narrows the space between doing fine and being in trouble. That may be the deeper story behind the graphic. The modern household has more dollars, more technology and more access to credit than the household of 1990. But it often has less freedom to stop earning. The erosion of purchasing power did not just change what money buys. It changed how families live, when they marry, whether they have children, how much risk they can tolerate and how dependent ordinary life has become on two uninterrupted incomes. The finish line moved, but so did the consequences of falling behind.

EndGame Macro

11,313 views • 2 days ago

Population Collapse Problem Solved Hungary passed - Giving women a 25% reduction in income tax for EACH CHILD she has FOR LIFE - Large loans for new married couples, 25% of the loan is forgiven per child, 4 kids = 100% loan forgiven - Marriages have doubled - Divorces have halved - Abortions have more than halved Turns out people do want to get married and have children, they just can’t afford it “Hungarians have done some interesting stuff. If you're a couple that marries before the age of 30, you get a large loan. For every child you have, 25% of the loan is written off. So if you have 4 children, the loan is completely written off. They're spending about 5% of GDP on this, very expensive, but if you eliminated stupid and costly climate commitment, lots of foreign aid to countries who hate us, and the money we spend on battery farming foreign nationals in social housing and asylum accommodation, we might be able to make it and it would be a much more sound investment. They've also said to women, if you have children, for each child you have, 25% of income tax will be knocked off for life. So that means that by the time that you have raised your kids and grown up, if you're running a little business on the side or you decide to go work full time, you are never gonna pay income tax again. So you get a second lease on life the moment your kids have left to go to university and had children of their own. — The encouraging metrics for the long term is that divorces have halved, abortions have more than halved, marriages have more than doubled. And that was during lockdown where every single other country in Europe, all of those metrics were flatlining and decreasing.”

Wall Street Apes

1,295,360 views • 1 year ago

“Scandal-ridden telco Optus, the world’s biggest meat producer, global tech firms and huge gas producers are among a host of major companies earning billions of dollars a year but paying zero income tax. The latest corporate transparency report from the Australian Taxation Office revealed a string of mostly multinational firms continue to pay no or very little tax on income in Australia, including household names such as Netflix, Apple and Microsoft. Singapore Telecom, the locally registered owner of Optus, earned $8.2bn in 2023-24, but reported zero taxable income and paid no tax on that, the ATO data showed. Tax minimisation was most evident among multinational firms, but wasn’t only the domain of hi-tech firms. The Brazilian-owned JBS Global Meat Holdings earned $19.7bn in Australia in 2023-24 – putting it just inside the top 20 businesses by income. But it paid zero tax on that income.” •••••••••••••••••••••••••• It is a national disgrace that our politicians are allowing this to happen. They can’t feign ignorance as I highlighted these rorts consistently throughout my time as a Senator. On my tour I have been explaining to Australians how is the only party that actually has a policy and know-how to stop offshore profit shifting. It is absolutely criminal that hard working Australians are paying more income tax every year while our politicians do nothing about offshore profit shifting.

Gerard Rennick

21,042 views • 10 months ago

Farewell to International Space Station! This is truly a special place, special mission, and special team that makes it happen. It is a bittersweet departure today – I have a keen awareness that I may never be back here, and even if I was, it would be at a different time with a different crew. This chapter is over. Spaceflight has always been a life goal, and it has turned into a life-fulfilling endeavor – but not for the reasons I thought growing up. When I was young, I pictured the launch, the incredible ball of fire and the acceleration, the spacewalks (how could you not wonder what it’s like to be in that suit?), and I was fascinated by the shuttles, capsules, and stations. But as I complete this second mission living and working in space, what draws me to this job is the people. Experiences like this are amazing, but the relationships we build that make it possible are the “why.” Every day, this mission depends on people from all over the world, of different nationalities, races, religions, and cultures. It depends on government and commercial entities, it depends on all political parties, and it depends on commitment to an unchanged goal over many years and decades. It depends on people dedicated to being part of something bigger than themselves, whose names may never be known but who wake up every day to make the world a better place and to be part of something they will be proud to tell their grandkids about. History will look kindly upon them. Humans have always had a propensity to explore … across lands and oceans, up mountains, and into the sky. We as a species will never stop wondering what else is out there, and what it would be like to go. But then, in the words of TS Elliot, “…at the end of all our exploring, will be to arrive where we started, and know the place for the first time.” Crew-10 is on its way home.

COL Anne McClain

69,039 views • 1 year ago

On 4th of July Independence Day, you should know the Income Tax was deemed Unconstitutional “There's no income tax in America until the Civil War. An emergency one Lincoln pushed after the Civil War, it's repealed 1892. They tried to have a peacetime income tax, it’s declared unconstitutional Woodrow Wilson pushes through the income tax, the 16th Amendment in 1913. It's a 1% tax on the top 1% richest people in the country. It's not to tax the people, it’s to go after those robber barons. The Rockefellers, Carnegies, J. Paul Getty's, the Astors. It would be sort of like today that only Warren Buffett and Bill Gates and George Soros, that's what the tax is for. And so you have Taft, pushing through a corporate income tax. And only the extreme wealthy owned corporate stock, so it was a backdoor way to get at them. Teddy Roosevelt was responsible for inheritance tax, because only the extreme wealthy had an inheritance worth leaving. But finally, Woodrow Wilson pushes through the income tax, which is the 1% tax on the top 1% richest people.” And today this is all applied to everyone Let me clearly break down the order of events: During the Civil War era (1861–1872) The first federal income tax was enacted during the Civil War under Lincoln. It was a temporary wartime measure. It was repealed in 1872, The Supreme Court upheld it as constitutional in Springer v. United States In 1894 there was another peacetime attempt at an income tax. Congress passed a 2% tax on incomes over $4,000 as part of the Wilson-Gorman Tariff Act. The Supreme Court struck it down in Pollock v. Farmers’ Loan & Trust Co. They again said it was unconstitutional So next in 1913 Congress forces an income tax on us with the 16th Amendment But what else happened in 1913? The federal reserve was established We had a central banking takeover and that same year they passed the income tax to steal from all of us This should have never been allowed to happened, the income tax was ruled unconstitutional It’s time to set Americans free and abolish the income tax

Wall Street Apes

161,222 views • 1 month ago

SHOULD GOVERNMENT BE ALLOWED TO TAKE PRIVATE PROPERTY? “People are waking up to the fact that the asset seizure tax is an elimination of private property rights, that fundamentally what you're saying [is] that private property now becomes public property. Because as soon as you give the government the right to collect your post-tax assets through a legislative vote, you are basically saying that you no longer have private property — because at any point in the future the government can vote to say I'm going to take your private property — which is different than an income tax. [An income tax] is when you earn something that you didn't have before, and they take a percentage of your earnings (of your income). The statement now is after you've made your income (it's now your private property) — they can come and take it. And so that is a distinction that has never existed in the United States. And I will make the retort right now to property tax, because people always say to me: ‘what about property tax?’ A property tax is a service fee on a particular, specific asset. The money that is collected provides services for that asset to make it more valuable. So you get roads, infrastructure, policing, fire, schools… All the stuff that comes with property tax makes that property [more valuable]. And you have the option at any point you want to sell that property and stop paying that property tax. You have the option at any point to downgrade your property and get a cheaper property and pay [a lower tax]. And here's the other important point about property tax: it’s uniform. Uniform means that everyone pays the same percentage, the same property tax rate in a county. This asset seizure tax that's being proposed is a demographic tax — meaning that the state or the legislature defines a specific group of individuals (in this case, they're saying anyone with a net worth over a billion dollars) and then they can go and take assets from only that group. That is nonuniform taxation. It means that for the first time we're saying based on the demographics of a person meaning whatever you want to use to define that person (in this case their wealth) — you are going to be treated differently. And that is different than an income tax, because remember when you have graduated income tax rates (and you say high earners get taxed more) — what you're taxing is the earnings, not the individual. You're not looking through to the individual to determine whether or not they're wealthy. All you're doing is looking at the independent earnings amount that's coming in. And so a uniformity clause is supposed to protect people from being demographically discriminated against. And you may roll your hand and be like: ‘Oh, who cares about the billionaires? Eat the rich. That's great.’ But fundamentally, you're giving the government, the legislature, the ability to in the future take any demographic definition they want and go in and take any percentage they want of after-tax property from you. That is why this is so troubling.” david friedberg The All-In Podcast

Ron Pragides 

258,567 views • 6 months ago