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Forum » You are a poorcel if you think the rich pay for everything up front and in full.
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Thread: You are a poorcel if you think the rich pay for everything up front and in full.

post 1657737813 03-11-2022, 02:46 AM
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You are a poorcel if you think the rich pay for everything up front and in full.

You think they buy houses, cars, boats, etc anything up front and in full? They take out loans to spread out the financial hit and to distinctly avoid paying the entire price all at once.

Here's the kicker you poorcels dont get. They can only get those loans because they qualify for those loans. No bank would ever give out those loans unless they know the person can financially back it up.

Todays lesson sponsored by cell tech.
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post 1657737913 03-11-2022, 02:50 AM
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post 1657737943 03-11-2022, 02:51 AM
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$5 mil house
1% interest rate

Why would any reasonable person throw the 5 mil to purchase the house when they can invest that 5 mil for a way higher return than the 1% loan they would be paying?

So yea, opie true
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post 1657737963 03-11-2022, 02:54 AM
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Thanks brah.
post 1657737993 03-11-2022, 02:55 AM
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Man on moon etc.
post 1657738043 03-11-2022, 02:56 AM
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I paid cash for your mom
post 1657738063 03-11-2022, 02:57 AM
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Yeah yeah, they definitely take loans and pay the interest rates, because rich people love to pay more for something that could cost less.
post 1657738163 03-11-2022, 03:07 AM
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The way I see it, is a poorcel buys a small house with a mortgage, and a cheap car with a loan.

A richcel buys a massive house with a mortgage, and an expensive car with a loan.

It's all pretty much the same thing, just at different levels. It's one of the reasons I admire Warren Buffett, because earning money for him is just a game and he's not materialistic.
post 1657738573 03-11-2022, 03:29 AM
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Originally Posted By steeler505⏩
$5 mil house
1% interest rate

Why would any reasonable person throw the 5 mil to purchase the house when they can invest that 5 mil for a way higher return than the 1% loan they would be paying?

So yea, opie true
A whole range of reasons

Largely to do with once you write a mortgage over property that you own, the mortgagee has a significant ability to limit your dealings with that property

Demolition, subdivision, amalgamation, change of use, even sale, basically any dealing with the property you have to get the mortgagee’s permission

I personally can do without the bank second-guessing and delaying my investment decisions

I won’t even start on how tax affects things
post 1657739703 03-11-2022, 04:22 AM
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Originally Posted By lexbishop⏩
This thread is awful.

The super rich have guaranteed income and they sold their soul to the establishment. They have contacts and associations with people you can't dream of.

Of course they can use tricks that the average person can't.

As a normal person if you over-leverage yourself in debts and future earnings and you don't have multiple solid revenue streams completely immune to market realities, you put yourself in a place where you can lose everything. The average person can do it too, just watch it all crash and burn when one thing goes wrong and it all go south.
One could argue finances are modern-day alchemy.
And one could classify corporations as giant, immortal, demonic entities.
post 1657739973 03-11-2022, 04:39 AM
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Mirin the sweeping generalization brah.
post 1657739983 03-11-2022, 04:41 AM
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And they don’t pay taxes.

Getting rid of your biggest expenditure is a huge help.

You don’t pay taxes on borrowed income.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1657740163 03-11-2022, 04:51 AM
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Originally Posted By Ironmanlet⏩
And they don’t pay taxes.

Getting rid of your biggest expenditure is a huge help.

You don’t pay taxes on borrowed income.
Yo what
post 1657740193 03-11-2022, 04:51 AM
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Originally Posted By RobotDeathSquad⏩
No bank would ever give out those loans unless they know the person can financially back it up.
Service the loan.

OP never heard of the G.F.C.
Nocrew crew

SS final perma ban request
https://forum.obnoxiousbrutes.com/showthread.php?t=184614323
post 1657740853 03-11-2022, 05:13 AM
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Originally Posted By BraddlesMcGee⏩
Service the loan.

OP never heard of the G.F.C.
In an ideal world loan serviceability doesn’t come into play

Usually the banks don’t lend money per se; they lend liquidity

For every 80c they lend you, they require $1.00 of unencumbered assets to secure it

Which is basically so that in the event you don’t pay they can fire-sale your assets and get their money back

Ironic since they can lend out (create) $10 in credit for every $1 (say) they have in assets

Anyway the system doesn’t deal well with systemic risk, or at least it didn’t in 2008.

Did they learn? We’ll find out soon.
post 1657751533 03-11-2022, 09:08 AM
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Originally Posted By Ironmanlet⏩
And they don’t pay taxes.

Getting rid of your biggest expenditure is a huge help.

You don’t pay taxes on borrowed income.
The rich literally, literally pays the most in taxes.
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post 1657752583 03-11-2022, 09:25 AM
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This only applied to the ultra high net worth. Not your cucked $30k/year wanabe million LARPing in their financed range rover.
post 1657752713 03-11-2022, 09:27 AM
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Originally Posted By RobotDeathSquad⏩
The rich literally, literally pays the most in taxes.
Not personally, only through their biz.

Most of the High profile executives you see have a $1 salary. Money is made through equity.
post 1657752853 03-11-2022, 09:29 AM
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Originally Posted By NextPound⏩
LOL, what? Strong everything.

Care to explain?
When you get a loan for a car, do you count that as taxable income? Money is going into your account from an outside source.


I am not saying you don't pay taxes on the car. I am saying you don't pay taxes on the loan. It is a form of tax free income. Of course you pay interest though, but that is cheaper than taxes in many scenarios.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

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post 1657752933 03-11-2022, 09:30 AM
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Originally Posted By RobotDeathSquad⏩
The rich literally, literally pays the most in taxes.
Thinks everyone who has no idea what they are talking about. The rich literally do not pay taxes. At all.

There are so many ways to get out of it. They use them all.


You keep believing what the super wealthy want you to believe though. You will make it there one day.
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1657753383 03-11-2022, 09:36 AM
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if they cannot pay for something in cash twice over they are not rich, lots of debt is not rich as they could have negative net worth with loans, loans means leverage and when things go bad the bank asks for payment in full guess what, the person with loans loses everything.
STEM Wagie Brah
Oil/commodity based trader
post 1657753823 03-11-2022, 09:42 AM
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post 1657753903 03-11-2022, 09:44 AM
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For some things, yea
post 1657762033 03-11-2022, 12:06 PM
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Originally Posted By Ironmanlet⏩
Thinks everyone who has no idea what they are talking about. The rich literally do not pay taxes. At all.

There are so many ways to get out of it. They use them all.


You keep believing what the super wealthy want you to believe though. You will make it there one day.
Keep believing blue haired obese communists
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post 1657775653 03-11-2022, 03:38 PM
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Originally Posted By Anachron⏩
Just another thread of miscers arguing about something they don't really know anything about.
Which wouldn’t be complete if you didn’t allude to knowing something about said topic…

Spoiler!
…despite being even more clueless LMAO
post 1657776213 03-11-2022, 03:46 PM
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Can confirm that many people take money out on margin to pay for big purchases $1m+
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post 1657776913 03-11-2022, 03:58 PM
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Originally Posted By AriesTH⏩
Can confirm that many people take money out on margin to pay for big purchases $1m+
good strategy
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post 1657777663 03-11-2022, 04:11 PM
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Depends on each individual and the circumstances of each investment


Lol at poverty OP thinking he discovered the secret of rich people because he found out some like to take out loans
See Shakebrah's sig
post 1657778933 03-11-2022, 04:33 PM
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OP is clearly an expert on usury
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