According to findings by sociologist Matthew Desmond, which he presents in his new book, Poverty, by America, since 1979, the bottom 90% of income earners in the U.S. experienced annual earnings gains of just 24%, while the wages of the top 1% of earners more than doubled.
Looking at inflation-adjusted figures, ordinary workers have seen their pay tick up only 0.3% a year for several decades. So the real wages for many Americans today are roughly what they were 40 years ago.
Still, people have been trying their best to make use of what they have. And they do find ways to enjoy life. That is until the market changes things for them. There's a Reddit thread that asked the platform users, "What was loved by poor people until rich people ruined it?" and it quickly went viral, receiving an interesting archive of replies. Here are some of the most popular ones.
- Read More: Someone Asks “What Was Loved By Poor People Until Rich People Ruined It?”, 50 People Don’t Hold Back
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Taking junky old cars and fixing them up as a hobby. Rich people discovered they could buy up loads of potentially very worthwhile project cars for not much, restore them to a level of unobtainable quality and price which drove the price up, now everyone "knows what they have" (eyeroll.png) and holds out for the big buyers instead of the neighbor down the street. They turned a hobby into a billion dollar industry and entertainment conglomerate so they can sell the cars to other rich people since few people can afford a $200,000 restored Mustang or GTO or whatever it is.
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Muskoka. For decades it was just a collection of quaint little towns and families, and everyone had a cottage on one of the lakes. Then the rich found out about it and started arriving in droves, driving up prices and turning it into a playground for the ultra-wealthy.