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Posted: 3/3/2019 5:06:14 PM EST
[#1]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. |
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Posted: 3/3/2019 5:07:51 PM EST
[#2]
There’s an interview with Warren Buffett where he talks a bit about it. Been going on for decades for sure.
But spending is the issue. And waste. |
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Posted: 3/3/2019 5:08:25 PM EST
[#3]
Doesn't exist. It is just another thing the agitators attempt to use to justify their jealousy and envy and excuse their laziness.
The *actual* problem is money in politics. |
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Posted: 3/3/2019 5:08:58 PM EST
[#4]
The government could confiscate every single dollar in the US and redistribute it equally among its citizens. With in a decade the people with money would have it again and those without it would be broke again.
Success and financial security is a mindset and an attitude. Some people have it and some do not. |
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Posted: 3/3/2019 5:09:25 PM EST
[#5]
Quote HistoryQuoted:
Whether it is morally justified or not increased inequality destabilizes society. |
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Posted: 3/3/2019 5:09:34 PM EST
[#6]
The cause of wealth inequality is talent inequality.
-and- Some believe in equality of opportunity, others believe in equality of outcome. |
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Posted: 3/3/2019 5:11:36 PM EST
[#7]
Quote HistoryQuoted:
Whether it is morally justified or not increased inequality destabilizes society. I don't know what the right amount is, or what the solution to too much is, but I like our society in more or less the form we have rather than chaos. Don't fall for it. |
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Posted: 3/3/2019 5:11:42 PM EST
[#8]
Greedy people want what they have done nothing to earn.
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Posted: 3/3/2019 5:11:56 PM EST
[#9]
Apparently the Forbes top 20 there is a bunch of people on it that inherited they're wealth
they don't even invest it they just let the money sit in a savings account and collect the interest . |
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Posted: 3/3/2019 5:14:05 PM EST
[#10]
Quote HistoryQuoted:
It always comes down to this. Because you can’t do it means no one else can. Quote HistoryQuoted:
Quoted:
Quoted:
It seems to cause a lot of problems right here on this website. Post a thread about buying a new platinum super duty and see what happens. My cynical side doesn't believe anyone in gd when it comes to vehicles. The most commonly bullshitted topic in here, imho. In regards to vehicle purchases like what we're describing, I would love to take a crack at their personal finances... IE the debt to net worth ratio. Just because you can afford it, doesn't mean it's wise. The vast majority of people out there are under-achievers of wealth. They are this way because they chase the illusion of wealth instead of actual wealth. |
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Posted: 3/3/2019 5:14:30 PM EST
[#11]
Quote HistoryQuoted:
Apparently the Forbes top 20 there is a bunch of people on it that inherited they're wealth they don't even invest it they just let the money sit in a savings account and collect the interest . |
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Posted: 3/3/2019 5:15:30 PM EST
[#12]
Quote HistoryQuoted:
Sorry, I suppose I wasn't clear in what I was trying to convey. In regards to vehicle purchases like what we're describing, I would love to take a crack at their personal finances... IE the debt to net worth ratio. Just because you can afford it, doesn't mean it's wise. The vast majority of people out there are under-achievers of wealth. They are this way because they chase the illusion of wealth instead of actual wealth. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
It seems to cause a lot of problems right here on this website. Post a thread about buying a new platinum super duty and see what happens. My cynical side doesn't believe anyone in gd when it comes to vehicles. The most commonly bullshitted topic in here, imho. In regards to vehicle purchases like what we're describing, I would love to take a crack at their personal finances... IE the debt to net worth ratio. Just because you can afford it, doesn't mean it's wise. The vast majority of people out there are under-achievers of wealth. They are this way because they chase the illusion of wealth instead of actual wealth. |
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Posted: 3/3/2019 5:15:32 PM EST
[#13]
I'm sure some of the forum's resident
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Posted: 3/3/2019 5:15:42 PM EST
[#14]
Quote HistoryQuoted:
It seems to cause a lot of problems right here on this website. Post a thread about buying a new platinum super duty and see what happens. 
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Posted: 3/3/2019 5:15:51 PM EST
[#15]
True wealth inequality. I have no issues because it takes blood, sweat, and tears.
Crony capitalism and socializing losses while privatizing profits. That shit needs to be fixed. |
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Posted: 3/3/2019 5:16:21 PM EST
[#16]
the income inequality argument was developed when conservatives pointed out that the american "poor" lived better than 90% of the world. hard to talk about poverty when the impoverished are wearing new nikes and instagramming on iphones. since the american quality of life is so good, progressives--who only gain power if someone is victimized--created a new class of victimization: income inequality. now it doesn't matter whether or not you live on red bull and lobster--you can still be a victim because someone else earns more.
the other component is a word game. in american political discussions, "equality" meant equality before the law. it's impossible to be against equality before the law, right? progressives used this to take control of the conversation, and to apply 'equality' to everything. the general rule of thumb for contemporary political classifications is as follows: the stronger one believes that everyone should be strictly equal in everything, the further to the left that person is. the more one believes that inequality of any sort is inevitable or fair, the further to the right that person is. you see the issue: meritocracy had become a right wing idea. |
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Posted: 3/3/2019 5:17:50 PM EST
[#17]
Quote HistoryQuoted:
True wealth inequality. I have no issues because it takes blood, sweat, and tears. |
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Posted: 3/3/2019 5:19:38 PM EST
[#18]
Gibs me dat.
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Posted: 3/3/2019 5:19:42 PM EST
[#19]
I spent ten days in the Amazon with native Indians. No clothes, no homes except the forest floor, no food except for what they pick or kill. No running water, toilets, no BMW....they are not poor. They are free.
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Posted: 3/3/2019 5:21:44 PM EST
[#20]
When you destroy the middle class, you destabilize a society and this results in rebellions or revolutions. The middle class serves not only as a buffer, but as hope for the poor that one with drive and dedication can or make possible for their children to rise above poverty. That was the American dream and while it is still attainable, grows increasingly difficult to realize.
In the '50 to '80s and even into the early '90s, a white male high school graduate can skip college, get a job at a factory and realize the American dream (sufficient income to marry, raise kids, buy a house, car). Those factory jobs fled overseas (thanks NAFTA and free trade) and even those attending/graduating from college are so indebted few get decent jobs (those were outsourced too) to pay off their school loans. Instead they flip burgers, wait on tables, stock shelves or make coffee/drinks (like Alexandra Ocasio Cortez) which enables them to pay off their school loans by age 65; at which point they can start saving for retirement. The 2-3 bedroom house is unattainable and hence the Tiny Home movement. More Americans are living in multigenerational households by necessity. The future does not look promising for the millennials and along with indoctrination (grade school through college), is it at all surprising that many of them are socialists? Easy to believe in allure of socialism when you own nothing. |
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Posted: 3/3/2019 5:21:58 PM EST
[#21]
This is how liberals always stay 1 step ahead of conservatives
Instead of defending the concept that everyone should have equal wealth, they go straight to pretending Wealth Inequality is an accepted problem and they are just proposing solutions, and anyone who disagrees is against solving problems Its not like there is a limited amount of wealth. Poor people should be encouraged to create wealth |
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Posted: 3/3/2019 5:22:01 PM EST
[#22]
Quote HistoryQuoted:
The biggest problem I see is capital hoarding, our economy would be orders of magnitude stronger if more of that wealth were flowing through the economic lower end majority and lower middle class. Something does need to change in the realm of wage stagnation. That being said, I abhor the idea that there be any forced redistribution of wealth. 1. is the lefty answer which is all about feels and jealousy. 2. is the real answer, which the quoted post touches on Part of the core idea of capitalism is that the wealthy use their money and it leads to driving the economy. Right now, especially since the Financial Crisis, the wealthy had money and were able to use it to make more by buying low. The poor lost their houses and jobs. Their wages haven't fully recovered since. The invisible hand is predicated on a certain level of national pride and assumption of the wealthy using wealth to better their country. Right now the wealthy are hoarding a large percentage of the wealth. There are incredible amounts of capital that are essentially out of the game. And when I say wealthy, I don't mean you have a nice house and some cars. I mean generational wealth. In the past people like the Rockefellers and Vanderbilts had massive wealth, but generated incredible economic prosperity as a result of it. It's different these days. It's fixable. But the problem is that the Dems want to do it through forced redistribution, which isn't the right answer, but can be made the popular one. It's about incentivizing investment and encouraging the wealthy to reintroduce their capital in to the economy. #1 is a manufactured problem to drive votes. #2 is a real problem that needs to be addressed. |
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Posted: 3/3/2019 5:22:35 PM EST
[#23]
Quote HistoryQuoted: I’m curious why it matters to you what others people’s finances are and what they decide to do with them. I just see it in my extended family and close friends, and it sucks. Repossessions, foreclosures, bankruptcies and pennies for an inheritance come easy. Generating real wealth takes discipline. |
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Posted: 3/3/2019 5:22:54 PM EST
[#24]
Quote HistoryQuoted:
Jealousy |
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Posted: 3/3/2019 5:25:42 PM EST
[#25]
I am 59. I bought my first house at 23 while I was making $4.00 an hour driving a forklift. With 2 kids and a wife. Worked every hour of overtime I could get and hauled hay every free hour from May until
September. Eventually bought 80 acres to raise a few cows on. Then another 80, when the first was paid off. Continued to work every hour I could and we had our 3rd kid. Put money in savings, I ate a pb&j for lunch every day to save money. Continued to add money to saving, became a Teacher/Coach to be able to spend some time at school with the kids. During oil boom would roughneck during summer and holidays to make more money to put in savings. Bought a new Jeep in 87 and it is still my DD. Bought my wife a new pickup in 96 so she would have a dependable vehicle to haul the kids around. In bought her a new car in 2010, an empty nester Miata. Still saving, 2 kids through college, 1 who only went 2 years. Last month a young fellow teacher said I was rich and he would like to be like me. I told him I was not rich. I later figured all my assets, house ,land equipment, cattle, savings, retirement etc. I found out I may be almost rich. I totaled out to within spitting distance of 1,000,000 in cash and assets. All it took was saving and being frugal. By the way I still have pb&j every day for lunch. It is not income inequality, it is most people don't want to work their ass off and sacrifice some of the glitter and live within their means. |
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Posted: 3/3/2019 5:26:04 PM EST
[#26]
Quote HistoryQuoted:
The biggest problem I see is capital hoarding, our economy would be orders of magnitude stronger if more of that wealth were flowing through the economic lower end majority and lower middle class. Something does need to change in the realm of wage stagnation. That being said, I abhor the idea that there be any forced redistribution of wealth. Companies and people generally hoard cash when they are facing unknown futures. When politicians start talking about insanely high taxes and people start talking about "eat the rich" people with money start hoarding wealth. |
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Posted: 3/3/2019 5:31:26 PM EST
[#27]
The left isn't about wealth inequality. The last thing they want is for the poor to not be poor. They NEED them to be poor so they can keep the votes in exchange for "free" government.
The overall goal is two classes: The upper class (government and the super wealthy who have the control) and the lower class (fucking everyone else who is 100% dependent on government). If they really cared, they would advocate for the free markets and tax breaks that have objectively lifted up the economy the last two years. |
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Posted: 3/3/2019 5:31:42 PM EST
[#28]
I’m 55
I bought my first house at 26 |
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Posted: 3/3/2019 5:32:07 PM EST
[#29]
Quote HistoryQuoted:
Pay more taxes so we can be kangz n shit |
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Posted: 3/3/2019 5:33:07 PM EST
[#30]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. |
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Posted: 3/3/2019 5:35:47 PM EST
[#31]
Quoted:
I keep hearing the left talking about wealth inequality, but I am not hearing what problem that causes. Poverty keeps going down despite the apparent increase in this wealth inequality. Other than the 'morality' of it, which I could give a shit about, what problems does wealth inequality cause (as far as the left is concerned)? |
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Posted: 3/3/2019 5:36:19 PM EST
[#32]
Quote HistoryQuoted: Capital hoarding? Where are you getting your information? People have extremely low saving rates. Large companies are buying back stock at high rates - that money goes back into the market instead of sitting on their books. Most folks I know that own small businesses are putting money back into their businesses - they are hiring additional people and buying equipment. Companies and people generally hoard cash when they are facing unknown futures. When politicians start talking about insanely high taxes and people start talking about "eat the rich" people with money start hoarding wealth. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. |
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Posted: 3/3/2019 5:38:25 PM EST
[#33]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. |
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Posted: 3/3/2019 5:39:42 PM EST
[#34]
Quote HistoryQuoted:
Bob has 1 Billion Dollars. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. Quote HistoryQuoted:
Quoted: Capital hoarding? Where are you getting your information? People have extremely low saving rates. Large companies are buying back stock at high rates - that money goes back into the market instead of sitting on their books. Most folks I know that own small businesses are putting money back into their businesses - they are hiring additional people and buying equipment. Companies and people generally hoard cash when they are facing unknown futures. When politicians start talking about insanely high taxes and people start talking about "eat the rich" people with money start hoarding wealth. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. And, as you say that money is invested in corporations, which pay business taxes, and employ folks who pay income taxes. And nothing is stopping the other folks who are working from putting some of their money into the market at well. |
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Posted: 3/3/2019 5:44:53 PM EST
[#35]
And nothing is stopping the other folks who are working from putting some of their money into the market at well. If you want to be wealthy, you have to acquire wealth. Which is different from increasing your consumption. |
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Posted: 3/3/2019 5:46:35 PM EST
[#36]
Quote HistoryQuoted:
I am 59. I bought my first house at 23 while I was making $4.00 an hour driving a forklift. With 2 kids and a wife. Worked every hour of overtime I could get and hauled hay every free hour from May until September. Eventually bought 80 acres to raise a few cows on. Then another 80, when the first was paid off. Continued to work every hour I could and we had our 3rd kid. Put money in savings, I ate a pb&j for lunch every day to save money. Continued to add money to saving, became a Teacher/Coach to be able to spend some time at school with the kids. During oil boom would roughneck during summer and holidays to make more money to put in savings. Bought a new Jeep in 87 and it is still my DD. Bought my wife a new pickup in 96 so she would have a dependable vehicle to haul the kids around. In bought her a new car in 2010, an empty nester Miata. Still saving, 2 kids through college, 1 who only went 2 years. Last month a young fellow teacher said I was rich and he would like to be like me. I told him I was not rich. I later figured all my assets, house ,land equipment, cattle, savings, retirement etc. I found out I may be almost rich. I totaled out to within spitting distance of 1,000,000 in cash and assets. All it took was saving and being frugal. By the way I still have pb&j every day for lunch. It is not income inequality, it is most people don't want to work their ass off and sacrifice some of the glitter and live within their means. Congratulations on your hard earned success and what I assume is a great family. |
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Posted: 3/3/2019 5:50:05 PM EST
[#37]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. What's your point? |
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Posted: 3/3/2019 5:53:04 PM EST
[#38]
He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. |
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Posted: 3/3/2019 5:53:32 PM EST
[#39]
It's only a problem if you think wealth is a finite resource, if not and you believe it is only created or destroyed.
Those who want power leverage the idea it's finite only do so for power. |
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Posted: 3/3/2019 5:53:59 PM EST
[#40]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. |
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Posted: 3/3/2019 5:58:48 PM EST
[#41]
Quote HistoryQuoted:
I want everyone to post their age when they say they have no problem with wealth inequality, along with how old they were when they bought their first home. I'm just making a bet. Currently in my 3rd home, each bigger,better than the last. I'm 57. I have no problem with wealth inequality. |
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Posted: 3/3/2019 6:00:17 PM EST
[#42]
Wealth inequality is a term that combines two words to suggest that there is something inherently unfair about having some people having wealth while other's don't. Socialists and communists will use terms like this to gain public favor for socialist policies like a guaranteed income for everybody, which ultimately means higher tax rates for working Americans and discourages individual initiative. Edited to add that I'm 67 and bought my first house at 23. What are the answers to your question supposed to mean?
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Posted: 3/3/2019 6:02:20 PM EST
[#43]
Quote HistoryQuoted:
Bob has 1 Billion Dollars. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. Quote HistoryQuoted:
Quoted: Capital hoarding? Where are you getting your information? People have extremely low saving rates. Large companies are buying back stock at high rates - that money goes back into the market instead of sitting on their books. Most folks I know that own small businesses are putting money back into their businesses - they are hiring additional people and buying equipment. Companies and people generally hoard cash when they are facing unknown futures. When politicians start talking about insanely high taxes and people start talking about "eat the rich" people with money start hoarding wealth. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. The percent on people that inherited their wealth is less than half that of self made billionaires (per CNBC). |
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Posted: 3/3/2019 6:02:24 PM EST
[#44]
There is one real problem with wealth inequality, but I suspect the fix is worse than the problem.
The problem is that when extreme wealth accumulates in the hands of a few, they begin to use it to buy the government. They achieve absolute power. Then they use that power for evil. Look at people like Soros or Bloomberg for examples, or even the Jonny-come-lately Zuckerbergs of the world. What can be done about it? Not sure. Probably nothing without burning down all that is good. |
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Posted: 3/3/2019 6:04:17 PM EST
[#45]
Idiots trying to make people think that wealth is a zero sum game, which it's not. Someone else having more doesn't limit your chances to have more, too.
The reason you have less is that you're a slacker, not that rich people are greedy. |
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Posted: 3/3/2019 6:05:05 PM EST
[#46]
Quote HistoryQuoted:
There is one real problem with wealth inequality, but I suspect the fix is worse than the problem. The problem is that when extreme wealth accumulates in the hands of a few, they begin to use it to buy the government. They achieve absolute power. Then they use that power for evil. Look at people like Soros or Bloomberg for examples, or even the Jonny-come-lately Zuckerbergs of the world. What can be done about it? Not sure. Probably nothing without burning down all that is good. |
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Posted: 3/3/2019 6:07:52 PM EST
[#47]
Some peoples has mo money'n I has and I wants it.
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Posted: 3/3/2019 6:10:34 PM EST
[#48]
Quote HistoryQuoted: Bob has 1 Billion Dollars. He inherited his money and owns no businesses. He buys a nice car every year and pays taxes on a nice house (or two). His entire income is capital gains generated from his wealth sitting in an account full of investments. He pays less taxes (percentage wise) than some average middle class dual income families. He does generate some economic stimulus from his lifestyle and what taxes he pays but it is vastly disproportionate to his actual wealth which he will never touch (or have a need to). He could live the same lifestyle with 100 million in wealth. Which leaves the vast majority of his money just growing untouched and unusable to the economy. |
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Posted: 3/3/2019 6:13:28 PM EST
[#49]
Quote HistoryQuoted:
That’s a government problem, not an economic problem. Quote HistoryQuoted:
Quoted:
There is one real problem with wealth inequality, but I suspect the fix is worse than the problem. The problem is that when extreme wealth accumulates in the hands of a few, they begin to use it to buy the government. They achieve absolute power. Then they use that power for evil. Look at people like Soros or Bloomberg for examples, or even the Jonny-come-lately Zuckerbergs of the world. What can be done about it? Not sure. Probably nothing without burning down all that is good. |
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Posted: 3/3/2019 6:14:45 PM EST
[#50]
Quote HistoryQuoted: You might say it's a human nature problem. Given enough money to buy control, people will. Government isn’t supposed to have enough power to be worth buying. |
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