Why do people who live paycheck to paycheck support capitalism?

Question

Seriously isn't this against their best interest?

Answer 1

Yes, but you have to try to understand the double wide trailer mentality though.

Answer 2

No, it's not.

The problem is your definition of "living paycheck to paycheck." Just because what comes in also still goes out doesn't mean what comes in isn't growing. We Americans tend to spend what we earn - this generation spends money on cable tv, internet, cellular phone, a half-dozen other gadgets, and spends more on entertainment, vacations and other extras than did the last generation. We also enjoy more luxury goods - unless the already-rich not only eat better but eat MORE than they used to, the fact that Whole Foods has been a growth stock for 12 years is due to the growing proportion of the population that can afford its products. Additionally, the "savings rate" doesn't consider the 6% the government forces you to save through social security or the other 6% your employer pays into the system. And it doesn't consider mortgage principal payments - a generation ago 60% of us owned our own homes, and now it's 70% and houses are on average twice as big as they were in the 1970s (which is pretty amazing since this includes houses that were built before the 1970s but still stand).

So on a profit and loss basis this generation is doing much better than the last generation - we put more cash into assets, such as our home, and we have a lot more discretionary income. You're just comparing the net of cash inflow and cash outflow without considering the growth of the cash inflow and what the cash outflow is being spent on. Even when it's spent on "the groceries" I'm buying my kids organic fresh vegetables whereas my parents bought me hamburger helper and canned green beans. And I'm the rule, not the exception.

So, we support capitalism because it has enabled us to improve our lot from when "living paycheck to paycheck" meant what you imply, which for tens of millions of us, it no longer does.

Answer 3

Let me guess, you're one of those "paycheck to paycheck" people. Your question is flawed. Capitalism has absolutely NOTHING to do with living paycheck to paycheck. If someone is in that situation, it is a direct result of decisions that person has, and continues to make in their lives. Didn't stay in school, started a family before they were able to support a family, not able to keep a job etc. etc. etc.
In America, and because of the free market economy called Capitalism, people have the option to get out of the cycle of living paycheck to paycheck and to secure a financially secure future. May not be in the top 1% of wealthy people, but certainly far from living paycheck to paycheck.
The vast majority of people who are "stuck" living paycheck to paycheck failed to obtain a marketable trade or degree in school. In America that is a huge crime against yourself as education is readily available and reletively cheap to obtain. Or they started a family too soon and couldn't stay in school. Or they abuse alcohol and/or drugs. Or they couldn't/wouldn't keep a job if they got one in the first place. Yes there may be exceptions to these statements, but to be honest, if a person with a marketable trade skill or a degree in engineering cannot get and keep a job, I'll bet a lot that they have some of the bad decisions listed above going on.
Frankly, if you want to spend your life envying people who have wealth and don't DO SOMETHING to break the paycheck to paycheck cycle then maybe that is the life you deserve. You certainly aren't doing anything to get to the next level and have a better life.

Answer 4

Well, it's really not possible to answer for all people; however, I would suppose we don't have many choices.

Capitalism generally refers to an economic system in which the means of production are mostly privately owned and operated for profit, and in which distribution, production and pricing of goods and services are determined in a largely free market. It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" or corporations to trade capital goods, labor and money.

So, as far as business and trade go, money for goods and services this is the only way to do business. People have to produce items or initiate services in order to keep the economy going, but what other choices do we have?

It would be wonderful if all goods and services were exchanged for other goods and services without money being involved, but I would suppose that is sort of unrealistic in today's world. Without products and services we would not have any economy. In the long run, I believe it is for the best interest of society because it is legal trade. As far as being paycheck to paycheck, I can understand where you're coming from because my check is very small and there is nothing left to save.

Answer 5

They don't want to live paycheck to paycheck anymore. Who wants to work their a** off for a measly paycheck when they can find a legit hustle that they can make more money then they ever did for actual work? Capitolism is a great thing. There's so much money to be made and all you have to do is find out how to make some of it, or create a way. You don't have to be sleazy and/or underhanded. Just see where the money is, how it's being made and get a piece of that pie for yourself.

Answer 6

They probably support whatever can give them the power to do what they want to do with their life. What they love to do. Sometimes people will do anything for love. Personally, I can't love doing ANY job.