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Posted: 3/3/2019 7:46:33 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. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 otherwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. |
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Posted: 3/3/2019 7:47:07 PM EST
[#2]
Quote HistoryQuoted:
Arfcom use to be free of red scum Use to be  |
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Posted: 3/3/2019 7:48:38 PM EST
[#3]
The left is focused on the wrong problem, and probably intentionally because it's an easy sell.
Inequality isn't a problem but defects in the system which systematically spit out poor people and allow certain people to cheat to get rich is a problem. In a just society, there should still be rich and poor but not because the government created both. |
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Posted: 3/3/2019 7:49:21 PM EST
[#4]
Quote HistoryQuoted: Bob never really inherited the money. He only receives the benefit of Family Trust. 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. Either the farmer is guilty of the same fallacious offense as the inheritance baby or neither are guilty of anything. No matter which way you go with the two, that route provides evidence contrary to your position. |
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Posted: 3/3/2019 7:51:00 PM EST
[#5]
Quote HistoryQuoted:
This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. Quote HistoryQuoted:
Quoted:
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. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. |
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Posted: 3/3/2019 7:51:37 PM EST
[#6]
Its communism by any other name. Stir the pot and lead to more Democratic voters.
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Posted: 3/3/2019 7:53:48 PM EST
[#7]
Quote HistoryQuoted: This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. |
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Posted: 3/3/2019 7:56:45 PM EST
[#8]
Quote HistoryQuoted:
Why are they better off? Because you say so or because it backed by factual evidence? What hardship do you have that did not exist previously? Are you struggling due to poor life choices or due to some nefarious entity holding you down? Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. Quote HistoryQuoted:
Quoted: This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer. |
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Posted: 3/3/2019 7:56:53 PM EST
[#9]
Money is only good for one thing, security. No money = insecurity.
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Posted: 3/3/2019 7:58:13 PM EST
[#10]
Quote HistoryQuoted: My grandparents grew up with an outhouse. They hated when they were down to the glossy section of the sears catalog. Things are pretty awesome right now. |
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Posted: 3/3/2019 7:59:50 PM EST
[#11]
Quote HistoryQuoted: Why are they better off? Because you say so or because it backed by factual evidence? What hardship do you have that did not exist previously? Are you struggling due to poor life choices or due to some nefarious entity holding you down? Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. |
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Posted: 3/3/2019 8:00:04 PM EST
[#12]
Quote HistoryQuoted: Why are they better off? What hardship do you have that did not exist previously? 2-3 decades of Marxist vote-buying bullshit policy enacted by Boomers. |
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Posted: 3/3/2019 8:00:58 PM EST
[#13]
Quote HistoryQuoted:
We used newsprint. Quote HistoryQuoted:
Quoted: My grandparents grew up with an outhouse. They hated when they were down to the glossy section of the sears catalog. Things are pretty awesome right now. 
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Posted: 3/3/2019 8:02:17 PM EST
[#14]
Quote HistoryQuoted: Plot real wage growth on a graph with growth in home prices and cost of education. Or just take the home price / median wage both now and then. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer. Live in a modest home, in a reasonable area. Pay cash for everything you can. Make intelligent borrowing decisions. Have reasonable expectations. Those are all choices that will/will not affect your ability to take the next step. There are tons of stories from people all over this site who have done exactly those things. |
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Posted: 3/3/2019 8:02:38 PM EST
[#15]
They're just trying to rile up peasants by exaggerating their differences.
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Posted: 3/3/2019 8:03:13 PM EST
[#16]
Quote HistoryQuoted: Spoken like someone who is willfully ignorant of the issues at hand |
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Posted: 3/3/2019 8:04:20 PM EST
[#17]
Quote HistoryQuoted:
Why are they better off? Because you say so or because it backed by factual evidence? What hardship do you have that did not exist previously? Are you struggling due to poor life choices or due to some nefarious entity holding you down? Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. Quote HistoryQuoted:
Quoted: This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. works as bartender while getting her second degree. All are making way more money than I did at the same age, even adjusted for inflation. It is all about how much you want to sacrifice to get where you want to be. |
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Posted: 3/3/2019 8:04:38 PM EST
[#18]
Quote HistoryQuoted:
Cost of education? Free based on my taxes. Want to go to college? Choose a reasonable school instead of that prestigious university. Live in a modest home, in a reasonable area. Pay cash for everything you can. Make intelligent borrowing decisions. Have reasonable expectations. Those are all choices that will/will not affect your ability to take the next step. There are tons of stories from people all over this site who have done exactly those things. Quote HistoryQuoted:
Quoted: Plot real wage growth on a graph with growth in home prices and cost of education. Or just take the home price / median wage both now and then. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer. Live in a modest home, in a reasonable area. Pay cash for everything you can. Make intelligent borrowing decisions. Have reasonable expectations. Those are all choices that will/will not affect your ability to take the next step. There are tons of stories from people all over this site who have done exactly those things. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. That makes it an apples to apples comparison and controls for "choices". |
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Posted: 3/3/2019 8:04:44 PM EST
[#19]
Quote HistoryQuoted: A metric shitload more competition in the labor market. 2-3 decades of Marxist vote-buying bullshit policy enacted by Boomers. Millennials need to man up. |
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Posted: 3/3/2019 8:05:14 PM EST
[#20]
Why are they better off? Because you say so or because it backed by factual evidence? What hardship do you have that did not exist previously? Are you struggling due to poor life choices or due to some nefarious entity holding you down? Though things did start getting a lot better about a third of the way through. It wasn't that many years ago when full load mutual funds still charged 8.5% commissions. Discount brokerages weren't as widespread when I first started investing. Years ago, I couldn't trade stocks on my cell phone. (This may actually be more of a liability, but Friday's day trade was successful). IRAs and 401ks are relatively recent developments. There was no Robinhood back then. (Though that may have been a good thing). |
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Posted: 3/3/2019 8:05:45 PM EST
[#21]
Quote HistoryQuoted: Again, it's just math. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. Expectation vs reality. |
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Posted: 3/3/2019 8:08:00 PM EST
[#22]
Quote HistoryQuoted:
Bob never really inherited the money. He only receives the benefit of Family Trust. 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. Quote HistoryQuoted:
Quoted: 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 8:08:00 PM EST
[#23]
Quote HistoryQuoted:
Then don't buy a median value home. Expectation vs reality. Quote HistoryQuoted:
Quoted: Again, it's just math. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. We could revert to living in mud huts and using outhouses. The proper answer here is "yes boomers had it easier. Life is not fair. Deal with it." Not denial that boomers had it easier. |
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Posted: 3/3/2019 8:08:26 PM EST
[#24]
Quote HistoryQuoted: I think I taught my kids the same lessons I learned from my parents. Work your tail off and good things will happen. They were born 79,83 and 91. One works for the state, one is an Insurance adjuster, and the baby works as bartender while getting her second degree. All are making way more money than I did at the same age, even adjusted for inflation. It is all about how much you want to sacrifice to get where you want to be. People have unrealistic expectations and rampant entitlement now. I was born in 79. With a little bit of luck I will not have to work again in two years. I just made intelligent decisions and worked hard. |
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Posted: 3/3/2019 8:09:02 PM EST
[#25]
Quote HistoryQuoted: So. Somebody already paid taxes on it when it was made before it went into the trust. Didn't. |
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Posted: 3/3/2019 8:09:50 PM EST
[#26]
Quote HistoryQuoted: I agree with your first statement, but not the second. That would be government overreach. Maybe I should rephrase. It's the governments job to ensure an environment that doesn't prohibit or disincentivize the investment of funds. |
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Posted: 3/3/2019 8:10:04 PM EST
[#27]
Quote HistoryQuoted: Plot real wage growth on a graph with growth in home prices and cost of education. Or just take the home price / median wage both now and then. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer.  Attached File |
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Posted: 3/3/2019 8:11:10 PM EST
[#28]
Quote HistoryQuoted: Sure, I mean, live in your car. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. The answer is to move to a lower COL area or to sacrifice. No one wants to do those things. They want cell phones, cool cars, and a townhouse in (insert trendy area). Strip the elevated, unnecessary expenditures from today's millennials and you end up with way more than a fighting chance. |
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Posted: 3/3/2019 8:11:24 PM EST
[#29]
Quote HistoryQuoted:
Sure, I mean, live in your car. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. We could revert to living in mud huts and using outhouses. Quote HistoryQuoted:
Quoted:
Quoted: Again, it's just math. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. We could revert to living in mud huts and using outhouses. |
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Posted: 3/3/2019 8:13:13 PM EST
[#30]
Quote HistoryQuoted:
Again back to my point it's not all or none. 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. Quote HistoryQuoted:
Quoted: 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 8:14:06 PM EST
[#31]
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. Bought my first home at 31. I could’ve bought one 3 or 4 years sooner, but I wasn’t married and worked 9-10 months a year out of state. I was gone so much that I didn’t even own a vehicle for almost four years. |
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Posted: 3/3/2019 8:14:41 PM EST
[#32]
Quote History
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Posted: 3/3/2019 8:16:26 PM EST
[#33]
the problem is when you say income inequality to GD they respond through the lens of the USA, once of the
most equal countries ever devised too much or too little inequality are equally dangerous |
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Posted: 3/3/2019 8:17:05 PM EST
[#34]
Quote HistoryQuoted:
Somewhat related, but I love this chart. Predictably, all of the items in red are where the government has interfered. The ones in blue are where the free market has been allowed to work. https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/cpichart2019.png Quote HistoryQuoted:
Somewhat related, but I love this chart. Predictably, all of the items in red are where the government has interfered. The ones in blue are where the free market has been allowed to work. https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/cpichart2019.png |
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Posted: 3/3/2019 8:17:39 PM EST
[#35]
The company I work for will post flyers asking for us to contribute to fellow employees retirement parties and gifts while the middle managers have to pay the rest out of their own pocket. 30 year employees get a $20 Walmart cake.
Meanwhile the founders son is worth over 8 billion. They had to start a sub company just to handle private flight ops. Definitely don't feel like we are valued or cared about. |
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Posted: 3/3/2019 8:17:41 PM EST
[#36]
Quote HistoryQuoted: I get it. The answer is to move to a lower COL area or to sacrifice. No one wants to do those things. They want cell phones, cool cars, and a townhouse in (insert trendy area). Strip the elevated, unnecessary expenditures from today's millennials and you end up with way more than a fighting chance. I can't afford to save for a house because of rent, medical bills, and my student loans. I can't have kids, even though I want to, because it's not financially responsible. Don't fucking tell me I didn't sacrifice enough. |
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Posted: 3/3/2019 8:18:01 PM EST
[#37]
Quote HistoryQuoted:
If the housing market is out of balance, build homes... Quote HistoryQuoted:
Quoted:
Quoted:
Quoted: Again, it's just math. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. We could revert to living in mud huts and using outhouses. This is a subtle but important difference between acknowledging that today's generations have it more difficult and claiming we should do something about it. I say let the free market work. And unfortunately, life is not fair. It never has been, nor will it ever be. |
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Posted: 3/3/2019 8:18:11 PM EST
[#38]
It's the governments job to ensure an environment that doesn't prohibit or disincentivize the investment of funds. |
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Posted: 3/3/2019 8:19:44 PM EST
[#39]
Quote History |
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Posted: 3/3/2019 8:20:32 PM EST
[#40]
Quote HistoryQuoted: I live in a crappy small town in the Midwest. I drive a 17 year old truck that was paid off in cash when I got it. I rent a shitty 2br apartment surrounded by tweakers. I don't have a landline, I don't have cable. I do have 40k in debt from a state university because my parents forced me to go to college when I did not know what field I wanted to go into. I worked my ass off and had a part time job in college and still managed to graduate in 4 years with a 4.0GPA my last semester. I can't afford to save for a house because of rent, medical bills, and my student loans. Don't fucking tell me I didn't sacrifice enough. Parents forced you to sign loan documents? They forced you to go into a field you didn't like? Did you call the FBI and report this hostage situation? Get another roommate and it will be cheaper. |
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Posted: 3/3/2019 8:21:22 PM EST
[#41]
Quote HistoryQuoted:
Plot real wage growth on a graph with growth in home prices and cost of education. Or just take the home price / median wage both now and then. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer. Quote HistoryQuoted:
Quoted:
Quoted: This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 othrwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. Strip cell phone bills, internet/cable bills, unnecessary purchases, and unrealistic expectations and you end up with enough to do what the boomers did. Also, there are tons of vocations out there that make good money and many of those vocations are direct routes to business ownership - HVAC, plumbing, masonry, carpentry, etc. Not everyone gets to be a CEO. It is factually correct to say that it is more difficult for recent generations. Still doesn't mean socialism is the answer. offer on his 2 bedroom 1200 square ft home. It is immaculate and he only asked 30,000 for it. People nowadays want 2500 sq ft or bigger. Of course they are going to pay more. The young man I work for, who is 28, just recently bought a 3,000 sq. ft home in a really nice area. I know how much he and his wife make because they are both teachers. The price of his house is about 3x what they make in a year. When I bought my house in 83, 900 sq. ft. it was a little more than I made in a year. If I had bought a 3,000 sq. ft.in 83 it would have been a little over 3x what I made in a year. I asked him why he bought such a big house his answer was we may have more kids. Why not start small, then sell and buy as needed. That is what I did, made money on every sale. |
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Posted: 3/3/2019 8:21:44 PM EST
[#42]
Quote HistoryQuoted: Then again, the premise of your argument is false. Either the farmer is guilty of the same fallacious offense as the inheritance baby or neither are guilty of anything. No matter which way you go with the two, that route provides evidence contrary to your position. It supports it. The farmer has a business. That business may or may not hire added help, but must purchase supplies, produces a crop that is then taxed. It's also an order of magnitude smaller than the kind of wealth we're talking about. I want to make clear, that I'm not arguing for the redistribution of wealth, socialism, communism or anything else along those lines. The wealthy have a right to their money. My point is that wealth has become consistently more concentrated in a smaller group, while the middle class has shrunk. I believe that's a valid problem that needs an answer. It doesn't mean I believe the answer is the liberal one. The liberal answer would say that the wealthy don't deserve their money and that everyone else does. My argument is that it's the job of the government to create an environment that rewards (or doesn't tax) the kind of investment from the wealthy that stimulates growth. The super wealthy in the 19th and 20th century spent their money building things and doing things. They built a railroad across the country. They didn't do nothing and get richer. They saw their investment in the US as a requirement of their status in life. Elon Musk is a good example today. He decided he wanted to make electric cars cool, so he did. He wants to go to mars, so he's funding a rocket program. He very well could put his money in a trust and let it grow and live an awesome life. |
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Posted: 3/3/2019 8:22:43 PM EST
[#43]
Quote HistoryQuoted: Part of the housing deal is we were raised in 900 -1200 square foot homes and my first house I bought was only 900 sq. ft 2 bedroom home. No one builds homes like this anymore. My brother took 3 years to get an offer on his 2 bedroom 1200 square ft home. It is immaculate and he only asked 30,000 for it. People nowadays want 2500 sq ft or bigger. Of course they are going to pay more. The young man I work for, who is 28, just recently bought a 3,000 sq. ft home in a really nice area. I know how much he and his wife make because they are both teachers. The price of his house is about 3x what they make in a year. When I bought my house in 83, 900 sq. ft. it was a little more than I made in a year. If I had bought a 3,000 sq. ft.in 83 it would have been a little over 3x what I made in a year. I asked him why he bought such a big house his answer was we may have more kids. Why not start small, then sell and buy as needed. That is what I did, made money on every sale. These guys don't want to hear about it. They deserve mansions and Ferraris.
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Posted: 3/3/2019 8:23:43 PM EST
[#44]
Quote HistoryQuoted: This right here. Boomers were infinitely better off when it came to starting a family, buying a house, etc, and they could generally do it on a single income, often in the manufacturing sector. Also, those jobs didn't require a 4 year degree and thousands of dollars of debt to get. But that's what happens when the rest of the world's infrastructure was bombed to shit and you're the last power standing. They got to live in the most prosperous time in US history but refuse to acknowledge it, and even scorn those that were born after them. The "one family in one house supported by one income" was a fluke in human history. We generally live in large family groups supported by each other financially and emotionally. But holy shit if you've got Boomer parents, no way fuck you you're gone at 18 otherwise you're a parasite. The least they could do is acknowledge that they got lucky and be supportive toward the later generations. Instead, they see us, struggling while facing more hardship than they have ever known, and they criticize us and call us lazy and entitled, because we feel like we're behind where they were in life at the same point we are now. I'd love to have kids. I'd love to own a house, or a business. But it's not an option, not if we want to be financially responsible. I can’t deny they had an amazing time to live their life, compared to depression era, the war years, etc. I don’t think anyone is truly busting on the young about how much more a car, education, medical care, etc. costs proportionally to what it used to. Nor the loss of many fantastic jobs straight out of school or for the guys with real college degrees in comparison to their opportunities. They were also the powers that be when it came to shifting overseas, adding middle management and admistrarion, massive chains of middlemen, etc. The young have a way better GI Bill than I did. You have the ability to knock out degrees with TA without coming off active duty. There are whole new fields in Comp Sci, Transportation engineering and many other fields are far higher than they used to be. There are growing new fields like PA and nurse anesthetist. More med schools. Huge needs in skilled trades that pay well. Plenty of cheap land in the country to put up some chicken houses. Great benefit and pay big city jobs. It may not be as good as one generation had it, but it still beats most other generation’s pickings. |
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Posted: 3/3/2019 8:23:58 PM EST
[#45]
Quote HistoryQuoted: No. It supports it. The farmer has a business. That business may or may not hire added help, but must purchase supplies, produces a crop that is then taxed. It's also a scale of magnitude smaller than the kind of wealth we're talking about. I want to make clear, that I'm not arguing for the redistribution of wealth, socialism, communism or anything else along those lines. The wealthy have a right to their money. My point is that wealth has become consistently more concentrated in a smaller group, while the middle class has shrunk. I believe that's a valid problem that needs an answer. It doesn't mean I believe the answer is the liberal one. The liberal answer would say that the wealthy don't deserve their money and that everyone else does. My argument is that it's the job of the government to create an environment that rewards (or doesn't tax) the kind of investment from the wealthy that stimulates growth. The super wealthy in the 19th and 20th century spent their money building things and doing things. They built a railroad across the country. They didn't do nothing and get richer. They saw their investment in the US as a requirement of their status in life. Elon Musk is a good example today. He decided he wanted to make electric cars cool, so he did. He wants to go to mars, so he's funding a rocket program. He very well could put his money in a trust and let it grow and live an awesome life. it is the same thing. |
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Posted: 3/3/2019 8:26:09 PM EST
[#46]
Quote HistoryQuoted:
Yes, I am a proponent of the free market. This is a subtle but important difference between acknowledging that today's generations have it more difficult and claiming we should do something about it. I say let the free market work. And unfortunately, life is not fair. It never has been, nor will it ever be. Quote HistoryQuoted:
Quoted:
Quoted:
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Quoted: Again, it's just math. Divide median home price by median wage. It takes more years of median wage now to pay off the median home than it did when boomers were starting out. Expectation vs reality. The question is whether it is relatively more expensive today than when boomers were starting out. Not whether we can adjust our expectations downward. Of course people can adjust their expectations/lifestyles downward. We could revert to living in mud huts and using outhouses. This is a subtle but important difference between acknowledging that today's generations have it more difficult and claiming we should do something about it. I say let the free market work. And unfortunately, life is not fair. It never has been, nor will it ever be. |
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Posted: 3/3/2019 8:29:21 PM EST
[#47]
Quote HistoryQuoted: If that is the case, they really screwed up when they introduced Social Security, didn't they? Of course, it wasn’t a mistake, it was always intended to be taxpayer-funded vote buying. |
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Posted: 3/3/2019 8:29:54 PM EST
[#48]
Quote History |
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Posted: 3/3/2019 8:31:42 PM EST
[#49]
Quote HistoryQuoted: You are actually the perfect example. You went to an expensive university out of choice. You took out loans out of choice. Parents forced you to sign loan documents? They forced you to go into a field you didn't like? Did you call the FBI and report this hostage situation? Get another roommate and it will be cheaper. I live with my girlfriend. People like you are part of the problem. |
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Posted: 3/3/2019 8:34:21 PM EST
[#50]
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. Now go back to those large corporations, they turned surplus cash back into stock, held value as (hoarded capital) they (hopefully) may sell them back into the market at a later date for operating cash if they need it. God forbid they turn that surplus cash into increased wages for the workers that helped the company earn all that money, while there were several companies buying back stock, were there also stories about bonuses for anyone but the top executives? Profit sharing to the working class/middle class employees will have far more positive impact to the economy than getting money off the books by shuffling the value around Wall street. Again I abhor the idea of forcing wealth redistribution, but if wage stagnation isn't addressed this country will slip further into the two class system. |
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