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Posted: 3/3/2019 6:16:25 PM EST
[#1]
Quote HistoryQuoted:
Still not the root of that problem. Government isn’t supposed to have enough power to be worth buying. Quote HistoryQuoted:
Quoted: 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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Posted: 3/3/2019 6:17:46 PM EST
[#2]
Makes some people jealous. No one should be made to feel jealous, all they need is your money.
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Posted: 3/3/2019 6:18:03 PM EST
[#3]
Quote HistoryQuoted:
Put money in savings, I ate a pb&j for lunch every day to save money. d 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. Our generation had opportunities the younger Americans don't have. Things that happened in the '90s under Bubba's presidency drastically changed this nation. Repeal of Glass-Steagall, Financial Modernization Legislation Act (prevents the regulation of derivatives), and NAFTA. Jobs went overseas and eroded the customer base for consumer driven businesses. With the dotcom bust, we got the Greenspan put that created the illusion of wealth. Easy credit allowed people to spend freely and rising housing prices (your house is a piggy bank) deluded many into spending. This was a pale substitution for real growth. It came to a head when the housing bubble burst. That wasn't as bad as what the investment banks did because of Glass-Steagall's repeal and the Financial Modernization Legislation Act. The banks leveraged the mortgage backed securities over ten times and with it huge losses that necessitated (not really but the banks wouldn't survive without it) Troubled Asset Relief Plan. Then we got Quantitative Easing that buoyed up asset prices (real property, equities, bonds, etc.). The end result is that this nation is a hollow shell of what it once was. In our lifetime we've gone from the greatest creditor nation in the world to the greatest debtor nation in the world. Our legacy to the future unborn Americans will be debt. Hyperinflation can wipe the slate clean, but it also wipes out the middle class. |
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Posted: 3/3/2019 6:20:24 PM EST
[#4]
Somebody got off his ass, had a better idea, worked hard and achieved the American dream and some Socialist donkey got jealous and wants to punish him for it by giving it to someone else who has done nothing to earn it.
Personally, I think as long as they are creating wealth, jobs and opportunity, more power to their success. They are the people who are creating more taxpayers and supporting business growth. I have a hard time accepting those who have so little dignity for themselves that they should be entitled to anything. No matter what is done for them it is never enough. They come right back for more and more. Give them a job and most likely they won't show up or soon quit. I never had a FSA freeloader sign my paycheck, have you? |
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Posted: 3/3/2019 6:20:25 PM EST
[#5]
Quote HistoryQuoted:
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 6:22:03 PM EST
[#6]
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. I'm 37, bought my house at 33. |
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Posted: 3/3/2019 6:25:41 PM EST
[#7]
Bought my home at 33...saved $6000 in one year for the down payment. I could have bought earlier in life. It was just motivation. 73 now
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Posted: 3/3/2019 6:27:58 PM EST
[#8]
Quote HistoryQuoted:
Rich have money, poor dont, scales tilting one way or another i.e. inequalities |
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Posted: 3/3/2019 6:30:12 PM EST
[#9]
Look at it this way, would you hire a high school dropout who quit because he was too busy snorting coke or running with a gang and pay him 6 figure salary to count on his fingers? Would you give him a raise if he was able to count on his toes too? What would you pay him to do? Suppose he says I'm entitled to that salary and I'm not going to show up for work either? Would you feel stupid or philanthropic as you sign his paycheck? Wealth inequality is a fraudulent argument.
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Posted: 3/3/2019 6:30:20 PM EST
[#10]
Quote HistoryQuoted: You logic is faulty. What do you think that money "sitting in an account full of investments" is doing? That is capital being used by people that own and run the companies that the money is invested in. Hoarding would be having money held in cash in a saving account, safe or safety deposit box where it is not being used for anything. By having investments that money is being used in the economy. The percent on people that inherited their wealth is less than half that of self made billionaires (per CNBC). You understanding of the Primary vs Secondary Markets are faulty. When you buy a stock on the open (secondary) market the corporation that you purchased doesn't benefit. The exchange happened between two entities or individuals. A company benefits from a Stock only at initial offering when they issue shares and take in capital as a result of their decreased ownership. When I buy a stock listed on the NYSE the company benefit is gone. Further to that, most really wealthy folks invest in Hedge Funds. Much of the profit generated from hedge funds is from intangible investments (options). Sure there are employees of the investment firm that profit, and there is some trickle down. But the fact that the money is "sitting in investments" means the velocity of that money is far lower than if that money were used to start a business or reinvest in a business. |
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Posted: 3/3/2019 6:31:56 PM EST
[#11]
"The poor you will have with you always>"
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Posted: 3/3/2019 6:32:07 PM EST
[#12]
House buying? Age 29, over $60k down. Took years to save for a down payment.
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Posted: 3/3/2019 6:33:25 PM EST
[#13]
Quote HistoryQuoted: There may be an investment or asset that makes Bob's fortune unusable to the economy, but if it is invested in stocks, bonds, or all cash, it is still being used by the economy. And that's the short list. The point of my argument isn't all or none. It's that the impact that money has is far less sitting in an investment account, than it could. Wealth in that state grows far faster than the impact that it has that trickles down. |
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Posted: 3/3/2019 6:34:03 PM EST
[#14]
Quote HistoryQuoted:
This is best post in this thread. Congratulations on your hard earned success and what I assume is a great family. Quote HistoryQuoted:
Quoted:
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. I talked about retirement last year and my son laughed and said " The only problem with that is that your hobby is working." |
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Posted: 3/3/2019 6:36:43 PM EST
[#15]
Quote HistoryQuoted:
No. You understanding of the Primary vs Secondary Markets are faulty. When you buy a stock on the open (secondary) market the corporation that you purchased doesn't benefit. The exchange happened between two entities or individuals. A company benefits from a Stock only at initial offering when they issue shares and take in capital as a result of their decreased ownership. When I buy a stock listed on the NYSE the company benefit is gone. Further to that, most really wealthy folks invest in Hedge Funds. Much of the profit generated from hedge funds is from intangible investments (options). Sure there are employees of the investment firm that profit, and there is some trickle down. But the fact that the money is "sitting in investments" means the velocity of that money is far lower than if that money were used to start a business or reinvest in a business. Quote HistoryQuoted:
Quoted: You logic is faulty. What do you think that money "sitting in an account full of investments" is doing? That is capital being used by people that own and run the companies that the money is invested in. Hoarding would be having money held in cash in a saving account, safe or safety deposit box where it is not being used for anything. By having investments that money is being used in the economy. The percent on people that inherited their wealth is less than half that of self made billionaires (per CNBC). You understanding of the Primary vs Secondary Markets are faulty. When you buy a stock on the open (secondary) market the corporation that you purchased doesn't benefit. The exchange happened between two entities or individuals. A company benefits from a Stock only at initial offering when they issue shares and take in capital as a result of their decreased ownership. When I buy a stock listed on the NYSE the company benefit is gone. Further to that, most really wealthy folks invest in Hedge Funds. Much of the profit generated from hedge funds is from intangible investments (options). Sure there are employees of the investment firm that profit, and there is some trickle down. But the fact that the money is "sitting in investments" means the velocity of that money is far lower than if that money were used to start a business or reinvest in a business. |
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Posted: 3/3/2019 6:39:32 PM EST
[#16]
I don't agree with you, but your velocity of money argument is pretty good. 
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Posted: 3/3/2019 6:42:13 PM EST
[#17]
Quote HistoryQuoted:
I don't agree with either one of you. Quote HistoryQuoted:
I don't agree with you, but your velocity of money argument is pretty good.
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Posted: 3/3/2019 6:43:13 PM EST
[#18]
Quote HistoryQuoted:
No. You understanding of the Primary vs Secondary Markets are faulty. When you buy a stock on the open (secondary) market the corporation that you purchased doesn't benefit. The exchange happened between two entities or individuals. A company benefits from a Stock only at initial offering when they issue shares and take in capital as a result of their decreased ownership. When I buy a stock listed on the NYSE the company benefit is gone. Further to that, most really wealthy folks invest in Hedge Funds. Much of the profit generated from hedge funds is from intangible investments (options). Sure there are employees of the investment firm that profit, and there is some trickle down. But the fact that the money is "sitting in investments" means the velocity of that money is far lower than if that money were used to start a business or reinvest in a business. Quote HistoryQuoted:
Quoted: You logic is faulty. What do you think that money "sitting in an account full of investments" is doing? That is capital being used by people that own and run the companies that the money is invested in. Hoarding would be having money held in cash in a saving account, safe or safety deposit box where it is not being used for anything. By having investments that money is being used in the economy. The percent on people that inherited their wealth is less than half that of self made billionaires (per CNBC). You understanding of the Primary vs Secondary Markets are faulty. When you buy a stock on the open (secondary) market the corporation that you purchased doesn't benefit. The exchange happened between two entities or individuals. A company benefits from a Stock only at initial offering when they issue shares and take in capital as a result of their decreased ownership. When I buy a stock listed on the NYSE the company benefit is gone. Further to that, most really wealthy folks invest in Hedge Funds. Much of the profit generated from hedge funds is from intangible investments (options). Sure there are employees of the investment firm that profit, and there is some trickle down. But the fact that the money is "sitting in investments" means the velocity of that money is far lower than if that money were used to start a business or reinvest in a business. |
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Posted: 3/3/2019 6:47:17 PM EST
[#19]
it is a part of the agenda to put oeople at odds with other people( reference race issues, religious issues, 1% vs 99% issues. The swamp wants people to hate each other. What about they dont care so you see many groups being manipulated.
Obama changed "the American Dream" into the "American Promise" so people would feel owed and slighted. And this agenda to promote differences among people as unfair continues. It is the classic marxist way to pit one group against another to keep people divided while they get support from ignorant people that have no clue as to what is really going on. Lenin called them useful idiots. |
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Posted: 3/3/2019 6:49:58 PM EST
[#20]
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. |
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Posted: 3/3/2019 6:50:14 PM EST
[#21]
There's a lot of resentment that's been building up over the last couple of decades. Even though productivity keeps increasing, real wages have been stagnant since the early 90s. Around that same time, the culture of companies changed. Where before they were investing around 80% of profits into wages and training, that dropped to under 50% because investors we're more interested in short term dividends than long term company health and growth
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Posted: 3/3/2019 6:51:29 PM EST
[#22]
It is a term the lazy and stupid use to say "other people got theirs, it is not fair! I don't want to work or earn mine!".
I chose to be a Chef, despite the fact it does not make 99% of us who cook rich. I make a good living and live better than I did growing up, I save for retirement, control my spending(I have no CC debit), etc. I am not rich by any means of the word in terms of dollars, but I feel I am doing plenty great. More often than not, the truly wealthy worked their asses off to get there, which includes sacrifice and risk. You have to choose to do it and take the actions necessary, which most people will not do. The type that are jealous/envious need to go to a 3rd world country for a bit. From age 10-13, my stepfather was stationed at Subic Bay in the Phillipeans...the "poor" here have no idea what poor really is. Plus, if they show up for work and put forth some honest effort, they would not be poor long. Wealth is not a zero sum game. |
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Posted: 3/3/2019 6:54:20 PM EST
[#23]
They see wealth as a finite product, and believe that the wealthy are monopolizing or "locking in" a large amount of wealth that does not get distributed or find its way to the rest of society.
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Posted: 3/3/2019 6:55:53 PM EST
[#24]
Quote HistoryQuoted:
….. A real truck has three on the tree and four on the floor. I think that about covers it.  |
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Posted: 3/3/2019 6:56:32 PM EST
[#25]
Wealth or income?
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Posted: 3/3/2019 6:56:58 PM EST
[#26]
so much delusion is in this thread
you're all giddy about getting homes and buying shit at X age with X income and not realizing that you're not much in the grand scheme of things slaves to collateral, debt, and the illusion of "making it" |
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Posted: 3/3/2019 6:57:23 PM EST
[#27]
A lot of the hemming and hawing about it are based on a false premise - that wealth is finite and a zero-sum game. This premise is that when "the rich get richer" they are taking a larger portion of the "pie", and therefore there is less for everyone else... and thus everyone else is poorer.
It's false, as we know, because wealth is not a zero-sum game, it is not a fixed size pie. It grows because wealth is created. |
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Posted: 3/3/2019 6:57:54 PM EST
[#28]
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. 
I don't see the problem here. He pays his bills. He goes on vacation and is a consumer. He pays at the local, state, and federal levels. He undoubtedly donates money to lower his taxes. BTW, every tax break available to him is available to anyone else. Further, capital gains is going to be higher than anything a middle class family is paying. You could make the same fallacious argument about a farmer that owns several million dollars worth of land. |
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Posted: 3/3/2019 6:58:05 PM EST
[#29]
Quote HistoryQuoted:
so much delusion is in this thread you're all giddy about getting homes and buying shit at X age with X income and not realizing that you're not much in the grand scheme of things slaves to collateral, debt, and the illusion of "making it" |
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Posted: 3/3/2019 6:59:10 PM EST
[#30]
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 6:59:52 PM EST
[#31]
Quote HistoryQuoted:
How many trucks fitting that description are being produced by modern automotive companies? Quote HistoryQuoted:
Quoted:
….. A real truck has three on the tree and four on the floor. I think that about covers it. |
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Posted: 3/3/2019 7:11:40 PM EST
[#32]
Quote HistoryQuoted:
How do you define “making it” then? Quote HistoryQuoted:
Quoted:
so much delusion is in this thread you're all giddy about getting homes and buying shit at X age with X income and not realizing that you're not much in the grand scheme of things slaves to collateral, debt, and the illusion of "making it" But if you have to work every day, and it is not a choice, then you haven't made it. Few people ever make it (before they age out and retire). |
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Posted: 3/3/2019 7:11:54 PM EST
[#33]
Quote HistoryQuoted: I do understand primary and secondary markets. If you think that wealthy people only invest in hedge funds you're either crazy or have bad information. Yeah they are going to put some money in hedge funds and buy stock that is traded on the major exchanges but they are also going to be investing in private placements of new companies (money going directly to the company), they are going to be investing in moon-shot type investments that if are successful will both generate a lot of money and increase the standard of living for a lot of people, etc... If every wealthy person was acting like a VC that would be good. It's the impact that money has in the investment portfolio compared to what impact it could have. You're 100% right that an entire portfolio isn't going to be in Hedge Funds. There will be a variety of investments, and some will include investments that have direct impact. But answer me this. Do you believe that the family trust of wealthy family who inherited their wealth has more of an impact to our economy, than the portfolio of a wealth person who's primary source of wealth lies within their own business or businesses? That's my point. That all the money is being hoarded doesn't have the same impact that it could. The reinvestment back into the country isn't what it used to be, and that's driven by the increase in the wealth gap. |
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Posted: 3/3/2019 7:13:45 PM EST
[#34]
Quote HistoryQuoted:
Agreed Quote HistoryQuoted:
Quoted:
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 7:14:18 PM EST
[#35]
Quote HistoryQuoted: Even if that were true, who the fuck’s business is it besides Bob’s? It's the government's job to incentivize Bob to do things with his money that benefit the county. Not Force him....incentivize him. |
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Posted: 3/3/2019 7:14:19 PM EST
[#36]
Wealth inequality is just as big of a problem as the gender pay gap.
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Posted: 3/3/2019 7:16:07 PM EST
[#37]
Sigh. Boomer thread gonna boomer.
Look, I get that people really are lazy fucks these days, but you're an idiot if you seriously believe life today is what life was still like when you were young in the 1960s-80s. |
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Posted: 3/3/2019 7:17:46 PM EST
[#38]
Quote HistoryQuoted:
Even if that were true, who the fuck’s business is it besides Bob’s? Quote HistoryQuoted:
Quoted: 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 7:18:54 PM EST
[#39]
Quote HistoryQuoted:
They see wealth as a finite product, and believe that the wealthy are monopolizing or "locking in" a large amount of wealth that does not get distributed or find its way to the rest of society. The top .01% control a lot of the money and the government in many ways. |
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Posted: 3/3/2019 7:21:23 PM EST
[#40]
Quote HistoryQuoted:
Sigh. Boomer thread gonna boomer. Look, I get that people really are lazy fucks these days, but you're an idiot if you seriously believe life today is what life was still like when you were young in the 1960s-80s. |
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Posted: 3/3/2019 7:22:48 PM EST
[#41]
Quote HistoryQuoted: I'm not sure what his definition is, but I would see it as the point that your money works for you, rather than you working for your money. This means different things for different people depending on lifestyle. But if you have to work every day, and it is not a choice, then you haven't made it. Few people ever make it (before they age out and retire). in regards to retirement (60+), i still don't think that's making it. the majority of someone's life spent making people money in exchange for a comfortable death... it's kind of sad |
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Posted: 3/3/2019 7:27:53 PM EST
[#42]
Quote HistoryQuoted: He is falsifying some very basic concepts to make it seems like he has an argument. The inheritance tax and capital gains Bob paid on inheritance, investments, and interest are faaaaaaaaaaaaaaaaaaaaaaaaaaaar more than any middle class tax bracket is taking or ever will take during their middle class lives. Bob pays 20%/yr on the interest he gains from his money (2018 rate) and 40% when he inherited the $1,000,000,000. That means Bob paid $400,000,000 in taxes on day 1. I'm oversimplifying, but that should be fairly obvious if you know about estate/inheritance taxes. It's the same tools farmers use to pass down their farms so that their families can keep them. |
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Posted: 3/3/2019 7:32:19 PM EST
[#43]
Arfcom use to be free of red scum
Use to be 
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Posted: 3/3/2019 7:33:13 PM EST
[#44]
Most people that complain "wealth inequality" are economic morons. Jeff Bezos and Bill Gates don't have 100+ billion dollars laying around in a bank account. Almost all of that number is tied into their businesses and it is a theoretical value if they sold their company at that moment. Anyone know a rich person that can afford to straight up pay cash for Amazon or Microsoft?
Not only would they not get the full cash value for their company, many reasons investors and such, but the company stock would dive like crazy if they left suddenly. Investment and venture capitalism is the biggest reason that capitalist countries do so well. Money is spread around that way but as opposed to socialist countries, capitalism allows the productive to thrive instead of doling out scraps evenly to "everyone". Look what happened to Venezuela. Venezuela is not an ordinary third world country, they have the largest proven oil reserves in the world and were once the wealthiest South American country before Chavez. Socialism/Chavismo took over and fucked everything over. They should have been riding high on petro profits, now they have more than 4 million citizens fleeing rampant poverty, starvation and bread lines. |
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Posted: 3/3/2019 7:34:36 PM EST
[#45]
Quote HistoryQuoted:
I don't see the problem here. He pays his bills. He goes on vacation and is a consumer. He pays at the local, state, and federal levels. He undoubtedly donates money to lower his taxes. BTW, every tax break available to him is available to anyone else. Further, capital gains is going to be higher than anything a middle class family is paying. You could make the same fallacious argument about a farmer that owns several million dollars worth of land. Quote HistoryQuoted:
Quoted: 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.
I don't see the problem here. He pays his bills. He goes on vacation and is a consumer. He pays at the local, state, and federal levels. He undoubtedly donates money to lower his taxes. BTW, every tax break available to him is available to anyone else. Further, capital gains is going to be higher than anything a middle class family is paying. You could make the same fallacious argument about a farmer that owns several million dollars worth of land. Was already taxed when made and subject to inheritance taxes. It’s not my money, I have no claim to it. I graduated HS and left home from a single parent waiting tables after the death of the other parent in an accident. No inherited land, wealth, etc. just paycheck to paycheck rural working poor. I went in the army for four years. Then the national guard for four years while using my GI Bill in college. I went back in the army. I retired with another degree and a pension and tricare. About a year out from pinning on BZ O6. I had spent almost a decade being deployed or TDY for over half of each year. I could have been making a lot more money for a long time as a civilian. I stayed in due to GWOT I now work about four days a week. Depending on how you calculate it, bonuses, maxed out O5, BAH, special pays, etc. I work half of what I used to for two or three times the money. The kind of thing where you pay 100-150K of income tax a year. I am, Less than inclined to want to pay more in taxes, or give more to people that don’t or won’t work- And think it is somehow unfair all the hard work and effort leading to where I am now means I have a life style they do not. Where were they during the hard work, selection, 100plus hour weeks, studying, deployments, coupon cutting for the grocery budget, delaying kids until 30, staying up late to pick up the wife from work with our one car when I had to get up early the next day, could have been making a ton more as a civilian, etc. Sure, I am jealous some people started out or got handed a lot more. Or lucked into something being very well off without work or effort. But that’s jealousy. I may wish their’s was mine, but it’s not and I have no right to it. I am however, very thankful to have been able to go from dirt poor, to being affluent. Other government systems could have mailed out all that effort and labor and left me with jack shit. Exactly the kind of government people like the wealth inequality supporters want to go to. |
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Posted: 3/3/2019 7:34:47 PM EST
[#46]
Quote HistoryQuoted:
Arfcom use to be free of red scum Use to be Either it has changed, or I have remembered it incorrectly. |
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Posted: 3/3/2019 7:36:14 PM EST
[#47]
No ones business but Bob's. He's free to invest his capital any way he chooses. It's the government's job to incentivize Bob to do things with his money that benefit the county. Not Force him....incentivize him. |
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Posted: 3/3/2019 7:40:03 PM EST
[#48]
Quote HistoryQuoted:
Rich have money, poor dont, scales tilting one way or another i.e. inequalities Money never sleeps. Regardless of where wealth is, it creates jobs ot only in the primary and secondary labor markets, but especially in the tertiary labor markets. But then most people are complete idiots when it comes to economics and finance. I teach economics and other social studies courses so I get to look at this all day x 185 days a year professionally and another 185 days for fun. |
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Posted: 3/3/2019 7:43:16 PM EST
[#49]
Quote HistoryQuoted:
Wealth inequality is a bullshit argument. The world is not a zero sum game. Just because one person has more others do not have less. Money never sleeps. Regardless of where wealth is, it creates jobs ot only in the primary and secondary labor markets, but especially in the tertiary labor markets. But then most people are complete idiots when it comes to economics and finance. I teach economics and other social studies courses so I get to look at this all day x 185 days a year professionally and another 185 days for fun. Quote HistoryQuoted:
Quoted:
Rich have money, poor dont, scales tilting one way or another i.e. inequalities Money never sleeps. Regardless of where wealth is, it creates jobs ot only in the primary and secondary labor markets, but especially in the tertiary labor markets. But then most people are complete idiots when it comes to economics and finance. I teach economics and other social studies courses so I get to look at this all day x 185 days a year professionally and another 185 days for fun. Over time, it is not. Items that were considered luxury 20 years ago are now commonplace. What should we do about it? Nothing. |
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Posted: 3/3/2019 7:45:39 PM EST
[#50]
Quote HistoryQuoted: And the money he is living off the interest from, Was already taxed when made and subject to inheritance taxes. It’s not my money, I have no claim to it. I graduated HS and left home from a single parent waiting tables after the death of the other parent in an accident. No inherited land, wealth, etc. just paycheck to paycheck rural working poor. I went in the army for four years. Then the national guard for four years while using my GI Bill in college. I went back in the army. I retired with another degree and a pension and tricare. About a year out from pinning on BZ O6. I had spent almost a decade being deployed or TDY for over half of each year. I could have been making a lot more money for a long time as a civilian. I stayed in due to GWOT I now work about four days a week. Depending on how you calculate it, bonuses, maxed out O5, BAH, special pays, etc. I work half of what I used to for two or three times the money. The kind of thing where you pay 100-150K of income tax a year. I am, Less than inclined to want to pay more in taxes, or give more to people that don’t or won’t work- And think it is somehow unfair all the hard work and effort leading to where I am now means I have a life style they do not. Where were they during the hard work, selection, 100plus hour weeks, studying, deployments, coupon cutting for the grocery budget, delaying kids until 30, staying up late to pick up the wife from work with our one car when I had to get up early the next day, could have been making a ton more as a civilian, etc. Sure, I am jealous some people started out or got handed a lot more. Or lucked into something being very well off without work or effort. But that’s jealousy. I may wish their’s was mine, but it’s not and I have no right to it. I am however, very thankful to have been able to go from dirt poor, to being affluent. Other government systems could have mailed out all that effort and labor and left me with jack shit. Exactly the kind of government people like the wealth inequality supporters want to go to. I couldn't care what anyone else does with their money. In fact, I argue that there is no ethically or morally defensible position to tax the rich as much as we already do. |
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