Firstly I wasnt supplying a solution; just identifying what I think the problem is.
You think this is the problem?-
Lootifer wrote: I would identify the fundamental problem as being that the person earning 60k is not being paid enough
I don't think that's right at all. It's not that the person isn't earning enough, it's that the currency they are earning is not valuable enough.
There was a time when earning $60K a year would be more than enough.
We think it's only natural that prices rise. That's not true at all, it's anything but
natural. When you look prices of things in another medium, a more stable medium, you see that prices of things has dropped dramatically.
Thirty years ago a dollar would have bought you eight loaves of bread. But look at it in another medium of exchange, gold. Thirty years ago an ounce of could would have bought you a hundred loaves of bread where the dollar would have bought you only eight.
Today, a dollar won't even buy you a loaf of bread, not even half a load. But how much bread could you buy with an ounce of gold today? Around 600 loaves.
When you look at prices in a stable medium of exchange, such as gold which is about the most stable medium of exchange there has ever been in the history of mankind, you can clearly see that the prices of things as gone down, a lot!
You can compare this with anything that can be bought or sold. And results are always the same.
But the dollar, what we use every day, what we are paid in, it's value only gets worse and worse.
Therefore you should be able to clearly see that this isn't that people aren't getting enough money, it's that what they are getting for their labors is worth less and less and less. It's the currency itself that is the problem. It is the central problem that has to be corrected first before there is ever going to be a chance to correct anything else.
Lootifer wrote:And my premise is that to pay for the welfare programmes the government is not printing money to do so.
Where did the bills that are in your wallet come from?
Absolutely the government is printing money, how else did it come into existence in the first place if it were not printed or created some way out of thin air?
Our currency isn't tied to gold or any other commodity. Ctrl P. That's where money comes from. And it all has to be paid back, every single penny. And when it's all paid back, every dime ever created, we'd still owe the interest, which we would not be able to pay because the currency to pay the interest is never printed. Only what is borrowed is printed. To pay the interest we must borrow more so that more can be printed.
Don't you see that?
And every newly printed dollar makes every other dollar already in existence worth less. And it is impossible to not
keep printing because of the very nature of how currency comes into existence. It's borrowed (thus the term "debt based").
And this leads to problems, like the ever increasing need for more and more welfare funds, as an example. Which only contributes more to the problem. It is unsustainable and in reality is only "kicking the can" down the road. Until such time comes (and it always comes) that the "can" can't be kicked down the road any longer.
Then it gets interesting.
And by interesting, I mean for many people it will be quite horrible, namely poor bastards who are on welfare, for one.....