The rich always get richer, it is just one of those things that end up being a certainty throughout life. If you have the supply and there’s a demand, you will make money off of people.
I remember working at a campground one summer, and this place was like six or eight miles away from any other type of store. I mean anything. It was as remote as you can get.
We had this very small grocery store, about the size of a 7-11 on site. Everything was about ten percent more expensive there than it would be at the store in town. The reason was simple, we knew that we could make the money off of the folks that didn’t want to spend a dollar on gas to save fifty cents on groceries.
Now, that’s when people are picking things that they want. When you go after things people NEED, that’s when it gets evil.
At the end of 2020, California had lost a record 1.6 million jobs during the COVID pandemic.
Nearly a half-million people stopped even trying to look for work. Business properties saw their value plummet more than 30%. But California’s bank account is overflowing.
As of January, the state’s tax collections were $10.5 billion ahead of projections. By the end of the fiscal year on July 1, Gov. Gavin Newsom and the state Legislature could have a $19 billion surplus to spend.
It’s so much money that, for just the second time ever, the state is projected to trigger a state law requiring the government to send refunds to taxpayers.
But this time, with the pandemic forcing the closure of bars, restaurants, theme parks, sporting events and small businesses, lower-wage workers bore the brunt of the losses while the wealthier worked from home. The economic losses started at the bottom of the income ladder and so far they haven’t made their way up to the top.
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