I agree in principle with the general thesis of this piece, but I have to comment on this:
‘After all, as of this year, “in the U.S., the top 1 percent now control about a quarter of the nation’s income and 40 percent of its wealth.” If the 1% makes 25% of a country’s income and has 40% of its wealth, asking that population…
Yes, I understand and didn’t interpret your comment as directed at the writer. As a generalization, I think that many people who don’t work in corporations underestimate the skills required to succeed there.
Can we drop the pretense that the Department of Education’s student loan portfolio is actually making money? 40% of its loan portfolio is non-current on their loans. Keep in mind, people with loans still in school are listed as “current”. Those also on IBR or other payment plans also get to be listed as current even though it’s an effective haircut.
I think it’s definitely misleading to quote rates that don’t account for Uber’s share, because that money never even gets to the driver. Given that drivers have different expenses depending on what car they drive, price of gas, etc etc, I think it’s okay to quote gross pay since net pay will be vastly different across drivers, but seems like they should be more transparent that it is in fact gross, not net.