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this post was submitted on 19 Aug 2024
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The amazing economy that these MAGA people dream of getting back to can be largely attributed to two things. The first is lots of manufacturing, which the CHIPS Act is a step in the right direction towards, but is impossible to ever really get back to ever since Nixon opened the door to China as a trade and manufacturing superpower in the 70s, and companies decided to lower costs by sending manufacturing over there. The second is a MUCH higher business tax rate. At one point, it was 91%. I'm not saying that that's the correct rate in the modern economy, but 28% ain't shit. Raise it to 40% at least, and then use that additional revenue to get everyday Americans' heads above water.
I'm an extremely lucky 35-year-old American white guy, married with no kids or pets, denied ourselves several comforts and luxuries, and I'm still just now at a point where I'm trying to buy my first home. I have almost every advantage possible, and I'm still over ten years behind my parents' generation. That shit ain't right. Help us, the people.
Congrats, I just bought a cottage because rents have gone insane
Rents have gone so insane that (assuming everything goes smoothly and we close) we will spend like $500 less per month by moving from our 2 bedroom apartment into a 4 bedroom 1800sqft townhouse. It'd be even less if interest rates weren't dog water right now haha. But there was only one other family competing to go under contract, so the high interest rate is how we got ahead of the upcoming gold rush. Houses are about to go for much higher than right now.