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Forum » The 1% Close to Having As Much Wealth as the Entire Middle Class
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Thread: The 1% Close to Having As Much Wealth as the Entire Middle Class

post 1591344171 11-10-2019, 03:51 PM
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Originally Posted By tank2003⏩
Of course no one NEEDS billions of dollars. But predicated the argument that "since no one NEEDS $___, wealth redistribution and capping is absolutely necessary" is ridiculous. You know who came up with that idea and implemented it? Fascists. If you make it so that people STOP accumulating money, then you'll just drive them to places where they can continue to accumulate it or, more likely, it would lead to events that would cause the downfall of that very system. There is a reason why no marxist country has lasted for very long. Marxism in general is a good idea in theory, but its so susceptible to corruption that it fails nearly 100% of the time
No, fascists didn't come up with that idea. We live in societies that have always held those ideas. Redistribution is almost the definition of society. Doesn't mean it needs to be exactlyequitable.

Your post is scary because of how short sighted it is.
post 1591344301 11-10-2019, 03:52 PM
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Stop crying and start getting gud I suppose?
post 1591344691 11-10-2019, 03:57 PM
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Originally Posted By tank2003⏩
I would say that skepticism of TRUE (unrestrained) free market capitalism is dying. It is true that the income gap is growing, but at the same time, the idea that "wealth redistribution and income capping SHOULD be implemented" and NOT Stop buying cheap chinese chit is ridiculous. I understand that trade relations are great for a country, but so is domestic infrastructure.
Skepticism of free market capitalism is dying? Which world do you live in? Free market capitalism has not been as unpopular and despised as it is today for a long time.
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post 1591345211 11-10-2019, 04:07 PM
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Yea crony-capitalism is messed up. The corruption of government, the power we give major corporations and conglomerates is ridiculous.

However, money isn't the only measure of wealth. Most of those people live awful lives. High levels of divorce, lies and deceit, have no autonomy, can't say what they want, horrific family lives, etc etc.

Things like being able to grow your own food, have a house, minimize debt, feed and keep the family safe, buy land, invest in the future, have a good group of friends, a good family life, eventually find a way to make your passion a job and source of income, etc.

Just because they are rich, doesn't mean doomsday for you.

You know why they are rich and the middle class isn't? Because the middle class plays their game. They prey off of our stupidity of consumerism, incurred debt, and failure to not live the life they push. If you supply your own food, home school, pay off all debt and live debt free, live frugally (or at least within your means), and invest in several different arenas, YOU WIN. THEY LOSE.

But everyone are just sheep and follow the herd and eat the grain that is put in front of them.
post 1591345611 11-10-2019, 04:14 PM
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Lmao at the working class

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post 1591345661 11-10-2019, 04:14 PM
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It's not a zero-sum game. I don't give 2 phucks that billionaires exist. The issue is so much of the middle-class having to live in financial insecurity.

All the people here who point the finger and assume it's because "MoSt PEopLE aRe ClUEless aboUT monEy" have almost no-clue what they are talking about.
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post 1591345681 11-10-2019, 04:14 PM
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Originally Posted By beansieweansie⏩
capitalism is a joke. having people with millions if not billions of dollars sitting in their account doing nothing when theres people out there starving and dying is terrible. Anyone who thinks this is ok has ZERO perspective. After someone makes a certain amount of dollars, (ie 5 mill) every dollar after that amount should be spent in healthcare, schools, and helping people in need. Ontop of that necessities and things needed to survive should not be as profitable as it is now.. if i remember correctly insulin is like an absurd amount more than the actual cost to make it
It's a common misconception that rich people have all their money sitting in a bank account doing nothing. They're not just hoarding money and refusing to help people and wiping their ass with $100 bills. Most of their money is illiquid. When you look up someone's net worth, that number is mostly made up of things like their business, investments, stocks etc with only a small percentage being liquid cash

Another thing is that it's really easy to say you'd give your money away when you don't actually have it. But once you DO have it, it's a different story. Bernie Sanders is one example. He used to chit on millionaires and billionaires all the time, then he became a millionaire himself and now he only chits on billionaires. And apparently he has 3 houses and doesn't give much to charity
post 1591345801 11-10-2019, 04:16 PM
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post 1591346161 11-10-2019, 04:21 PM
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Originally Posted By Jaroctor⏩
No, fascists didn't come up with that idea. We live in societies that have always held those ideas. Redistribution is almost the definition of society. Doesn't mean it needs to be exactlyequitable.

Your post is scary because of how short sighted it is.
I'll amend my statement and say that it was fascists who implemented it int he modern age
Originally Posted By isingmodel⏩
Skepticism of free market capitalism is dying? Which world do you live in? Free market capitalism has not been as unpopular and despised as it is today for a long time.
I'll also amend this as well and say that i should have said: Skepticism of Unchecked free market capitalism or better yet crony capitalism
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post 1591346201 11-10-2019, 04:21 PM
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Originally Posted By Omnivium⏩
It's a common misconception that rich people have all their money sitting in a bank account doing nothing. They're not just hoarding money and refusing to help people and wiping their ass with $100 bills. Most of their money is illiquid. When you look up someone's net worth, that number is mostly made up of things like their business, investments, stocks etc with only a small percentage being liquid cash

Another thing is that it's really easy to say you'd give your money away when you don't actually have it. But once you DO have it, it's a different story. Bernie Sanders is one example. He used to chit on millionaires and billionaires all the time, then he became a millionaire himself and now he only chits on billionaires. And apparently he has 3 houses and doesn't give much to charity
Bernie wants better social programs and infrastructure to safeguard the poor. If Bernie becomes president and enacts his tax and welfare/healthcare/education reforms, he will be paying a lot more of his income in tax. Unless you can show me something where he has recently altered his proposals so that he would not personally be affected, you're not making much of a point here.
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post 1591346351 11-10-2019, 04:23 PM
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Originally Posted By tank2003⏩
I'll amend my statement and say that it was fascists who implemented it int he modern age


I'll also amend this as well and say that i should have said: Skepticism of Unchecked free market capitalism or better yet crony capitalism
I think you're a bit confused with these terms - they aren't the same thing, in fact based on most libertarian lingo I've heard they are polar opposites.
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post 1591346901 11-10-2019, 04:32 PM
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Originally Posted By CalmWind⏩
It's not just capitalism. It happens in almost all economies.

Ancient rome was based on agriculture and slavery, and eventually all of the wealth and land was concentrated into fewer and fewer hands.


It's an inevitable effect of wealth accumulation. As time passes, the rich get richer.


What you need is a "reset" button every few hundred years to start the game over again. Such as the American revolution which founded a new country/economy, etc...


or, move to a country that is currently in the early-mid stage of the economic cycle (such as current China, if you can deal with the communism)
This can be seen across virtual all aspects of life. Sports, academics, sex; every pursuit has its extreme winners. It just so happens the money pursuit has the opportunity of compounding interest, which when handled properly in multiple generations is a hell of a drug.
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post 1591347921 11-10-2019, 04:46 PM
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Originally Posted By bobbybondsfan⏩
Let me guess: scandanavia is left wing?
See Norway: Mixed economy.

Move to Los Angeles and see how far a $32K salary gets you. You'd be surprised at your quality of life.
Your schtick sucks and it screams insecurity.
post 1591349441 11-10-2019, 05:10 PM
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Originally Posted By guest89⏩
It was an example bro. My girlfriend used to earn in excess of one million per year (entrepreneur). During that same time period I was making around 50K per year. Still built a higher net worth then she has. Despite her earning an astronomical amount during the same time period.


I'm convinced the 'middle class' are broke because of their lifestyle and choices they make. Based on first hand knowledge, even if you earn a 7 figure income you can EASILY blow through that much money and be broke.
The middle class is stuck in the rat race of keeping up with folks. Cars, clothes, traveling, etc. It's wild. My mother tells me I need a new car because mine is old, '06, and calls me "cheap" because I don't want to pay a $400 - 500 car note like she does. I make six figures and realize that's slavery. At the end of the day what's it for? To impress folks?

Investing your money and living a meager lifestyle is great. I used to make fun of my aunt for shopping at the Goodwill and always thrifting. Turns out she has an incredibly high net worth and is set into her retirement. She did get to enjoy things she wanted to but she stayed frugal for the most part.
Originally Posted By Brainfr33ze⏩
not all of us want to live like some stoopid loser hermit never having any fun.
Why do you think that's the case with him and why would someone else pay for your lifestyle?

I don't understand this nascent irrational hatred of billionaires as of late. Sure like all people there are some that are bad but there are many that have done public good for our society in general. We shouldn't punish those people.
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post 1591350081 11-10-2019, 05:20 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
you know things are bad when you stop comparing yourself to the previous generation and start comparing yourself to 3rd world chitholes
post 1591350341 11-10-2019, 05:24 PM
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Originally Posted By isingmodel⏩
I think you're a bit confused with these terms - they aren't the same thing, in fact based on most libertarian lingo I've heard they are polar opposites.
very possible. i'm new to this part of politics
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post 1591350801 11-10-2019, 05:33 PM
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Originally Posted By sword_⏩
The middle class is stuck in the rat race of keeping up with folks. Cars, clothes, traveling, etc. It's wild. My mother tells me I need a new car because mine is old, '06, and calls me "cheap" because I don't want to pay a $400 - 500 car note like she does. I make six figures and realize that's slavery. At the end of the day what's it for? To impress folks?

Investing your money and living a meager lifestyle is great. I used to make fun of my aunt for shopping at the Goodwill and always thrifting. Turns out she has an incredibly high net worth and is set into her retirement. She did get to enjoy things she wanted to but she stayed frugal for the most part.



Why do you think that's the case with him and why would someone else pay for your lifestyle?

I don't understand this nascent irrational hatred of billionaires as of late. Sure like all people there are some that are bad but there are many that have done public good for our society in general. We shouldn't punish those people.
Nah, not everybody is keeping up with the Jones. You're letting social media dictate your view
post 1591351091 11-10-2019, 05:39 PM
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Originally Posted By MikeLowrrrey⏩
Nah, not everybody is keeping up with the Jones. You're letting social media dictate your view
Trust me, they are. All my friends have big car payments, student loans, high rent, iphones, etc. They go out all the time, vacations, events every weekend, you name it. All while they have tons of debt.

Keeping up with the Jone's nowadays is much more than just luxury house and cars.
post 1591351161 11-10-2019, 05:42 PM
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Originally Posted By Brainfr33ze⏩
fuk this chit

imma start robbing and stealing
Solid plan
post 1591351561 11-10-2019, 05:50 PM
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median income in the USA is over $60k... I'm no math expert but $5k/month is a DAMN good life if you're not a complete fukin retard.
post 1591351641 11-10-2019, 05:51 PM
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Originally Posted By Brainfr33ze⏩
you are a common man doing common man things that the rich push on you making their pockets fatter while you just get by making 500$ on yer savings after locking it away for a year. how is that succeeding? you think preaching saving all yer money so you can retire early and keep watching tv/internetting all day is a great life? wtf man? that is chit.
You have a negative mindset. You work a low wage job for a minimal amount of hours per week then just go home and whine about not being rich.



I'm currently on track to retire in 17 more years (I'll be 49) with a passive income + pension of 150K per year. Started from nothing, given & inherited nothing. Such a thing is achievable for literally anyone willing to work for it. As I never had a single 'advantage' or 'privilege' in life. TBH I screwed around kind of long and didn't even get started until I was 24. I may never be in the 1%, and I may never be 'rich'. But when I'll be 49 years old with a completely passive income stream of over 12K per month. Everything will have been worth it.




Understand this. Nobody is going to give you anything. If you don't start building a future for yourself now. One day it will come and you won't be any farther along then you are now. No thnx Jeffry. My family typically lives into their 90s. I plan on spending the last 40 years of my life in comfort.
post 1591351771 11-10-2019, 05:52 PM
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Originally Posted By gixxer0.6g⏩
They also pay over 60% of the taxes.

What's even more fkd is the bottom 40% dont pay any taxes
What was FICA. Presuming any income at all that is.
Originally Posted By Adam16121⏩
One of the concerns that I've seen popping up is that there is not a fair distribution of compensation for productivity anymore.



"the widening disparity between wages and productivity is evidence that there has been a significant shift of GDP share going from labor to capital, and this trend is playing a significant role in growing inequality."
Two likely factors causing this in the US would be health care costs and automation.
Originally Posted By tank2003⏩
I would say that skepticism of TRUE (unrestrained) free market capitalism is dying. is true that the income gap is growing, but at the same time, the idea that "wealth redistribution and income capping SHOULD be implemented"and NOT Stop buying cheap chinese chit is ridiculous. I understand that trade relations are great for a country, but so is domestic infrastructure.
I think putting a solid floor under the bottom X percent is more important than capping the the income at the top. If the bottom tier has enough to be comfortable then they aren't likely to get angry enough to guillotine the people at the top.
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post 1591352061 11-10-2019, 05:57 PM
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Originally Posted By katya422⏩
I think putting a solid floor under the bottom X percent is more important than capping the the income at the top. If the bottom tier has enough to be comfortable then they aren't likely to get angry enough to guillotine the people at the top.
I can agree with that but not at the expense of people have HAVE the money. I mean, i'm jealous as fuk of rich people too but that doesnt mean we should just TAKE their money. This reminds me of the mass immigration argument. People WANT mass immigration because where they come from is a chit hole and they want to relocate them to a better place. Well that just strains the "new place" and isnt sustainable. Its MUCH more sustainable to rehabilitate their home country and reinforce their infrastructure so they can make their own country better for their descendants. Does that make sense?
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post 1591352121 11-10-2019, 05:57 PM
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Originally Posted By DeadlyStriker⏩
Trust me, they are. All my friends have big car payments, student loans, high rent, iphones, etc. They go out all the time, vacations, events every weekend, you name it. All while they have tons of debt.

Keeping up with the Jone's nowadays is much more than just luxury house and cars.
That's your friends out of how many people? I think if you're gonna say that you're gonna have to post sources. Even the older folks who live within their means say the cost of living has gone up too much.
post 1591352271 11-10-2019, 05:59 PM
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Originally Posted By HMFIC_BROWSIN⏩
median income in the USA is over $60k... I'm no math expert but $5k/month is a DAMN good life if you're not a complete fukin retard.
$60,000 after tax is $3800. And those folks are living in cheap suburbs, nothing expensive like Cali, New York, or Boston
post 1591354201 11-10-2019, 06:36 PM
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Originally Posted By HMFIC_BROWSIN⏩
median income in the USA is over $60k... I'm no math expert but $5k/month is a DAMN good life if you're not a complete fukin retard.
Are you forgetting medianhouseholdincome?
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post 1591354431 11-10-2019, 06:41 PM
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Originally Posted By MikeLowrrrey⏩
$60,000 after tax is $3800. And those folks are living in cheap suburbs, nothing expensive like Cali, New York, or Boston
You mean $38,000?

Who tf is so bad with their taxes they lose $22k filing on a $60k income?

I'll say it again: if you're not being a complete retard (and getting cucked on taxes), $60k is a fuk ton of money

I love how we just pick the absolute worst examples of money management and use it as if that's what everyone is doing.
post 1591354731 11-10-2019, 06:46 PM
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Originally Posted By WestAfrica⏩
Are you forgetting medianhouseholdincome?
Household means single and married.
post 1591356761 11-10-2019, 07:17 PM
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Originally Posted By MikeLowrrrey⏩
That's your friends out of how many people? I think if you're gonna say that you're gonna have to post sources. Even the older folks who live within their means say the cost of living has gone up too much.
Highest debt ratio in the history of US.

$1.22 Trillion in auto loans
$1.5 Trillion in student loan debt
$9.4 Trillion in mortgage debt

The median american household has $11,700 in savings, while the top 1% households have a median savings of $1.1 million in a variety of savings accounts.

The median transactional account balance for those under 35 years old was $2,600. During the years between 35 and 44, balances grow significantly. The median for 35-year-olds to 44-year-olds is $3,800. By the time we reach 75 and above the median is $10,000.

I can go on and on. The average american is in debt, living beyond their means, don't have a fully funded emergency, and barely has any savings.

Your turn. I provided reality, you need to provide stats now.

-Also note I posted median vs average. Average accounts for the top 1% which completely skews results.
post 1591356861 11-10-2019, 07:19 PM
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Originally Posted By jackamo2887⏩
An income of $32,400 per year would allow someone to be among the top 1% of income earners in the world.

Stop crying millennial.
This argument is painfully stupid.
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