Well at this point, half the country is poor and probably can't afford the better goods. Hence the importance of cheaper junk goods because at least big biz can keep selling stuff to impoverished people.
If you have $30 to spend on a faucet and a plastic junk one is $20, while a better metal one is $40, you don't have much choice but to buy the junk one, unless you want to skip a few meals. Proper wages would solve that by and large. The more money people get, the more they have to spend. The average person spends 90-100% of their monthly income, unlike the rich.
I disagree.
With your apparent support for a universal wage hike, it shows you to be one of people who don't understand basic economics or cause and effect. Please post about it in the refinery so I can educate you.
Poor people cannot afford to buy cheap things, and if you can't pay cash, you can't afford it.
If people followed the second part of that, then an emergency expense (like a faucet coming apart) is absorbable on a credit card, and if you have to pay $200 (for a QUALITY faucet, which aren't actually sold at Menards/Lowes/Home Depot, ask a plumber) spread over 6 months on a card, that person that can only afford $20/check can afford to do it.
In the very first place, the person in that scenario looking at the faucet should repair their existing one, and only replace it if it's completely beyond repair internally (which is doubtful unless it's the cheap plastic one to begin with).
The plastic
budget faucets were originally designed to be used in damage-prone rentals, heck, I can remember when the blister pack bath faucets were $10 and said "rental property faucet" on the packaging. The only reason I used a faucet as an example is it's something everyone can picture.
The problem is the attitude of entitlement in this country.
You don't NEED that fancy smart phone and the "unlimited" plan, most people don't NEED a cell phone at all, but people don't understand the difference between a LUXURY and a NEED anymore.
If you are in that financial position, you need to rethink all the crap you have, and you need to trim the fat in your budget.
You used to rent an apartment because it was a lot cheaper (30%-60%) and didn't require the same credit as buying a house, or because you didn't plan to live in one place for more than a couple of years.
Nowadays it's not much cheaper in most parts of the country (generally less than 10%), and in many places it's actually more expensive, but people aren't willing to scrimp and save to have a down payment, nor are they willing to do the research and legwork to get a true $0 down mortgage.
Here's a list of things most people can save money on every month if money's tight: 1) Buy ONLY off brand everything, 2) downgrade your cell phone and plan, get rid of it if you need to, if your job requires one, they should be providing one (I've had that argument before), 3) lower your internet speed at home or just plain get rid of it, you can go to the public library daily if you need to, 4) don't go out to eat ever (including coffee and drinks), my lunch costs me less than $1 every day 5) get rid of cable tv, 6) don't waste money buying music, the radio is free.
There are many more things people can do, but most people aren't willing to do any of the above to begin with, if they feel like they can't afford anything extra, people don't want to give up the luxuries they do have, even if it means bettering their position in life.
Growing up, my family never had
any disposable income, my parents were raising 4 kids on an enlisted military budget, if we couldn't fix it, we went without it.
Since we couldn't afford to replace something if it crapped out, we'd buy the best quality we possibly could, even if it meant waiting and saving up an extra few weeks/months/years. Using layaway was normal for us.
I still do that, and I'm not in the same boat financially.
My household is frugal and generally does without on things if we don't NEED them, which allows us easily $1000 in truly disposable income monthly (without me working any overtime, and with my 401k getting fat), does that make us rich in your eyes? It makes us smart, not rich, in my eyes.
All we do is pay our bills every check, buy our groceries, fill all the fuel tanks, and put a bit of cash aside in the safe. We don't even consider going shopping until it all clears. But this means I can give my kids things I could never have even asked for growing up.
You'd be surprised how many people I know who make six-digit incomes and live paycheck-to-paycheck, just because they make poor financial decisions.
Allow me to step off my soapbox.