Sep 28 - Americans Have No Idea How Bad Inequality Really Is

[TLR Is Mental Poison]

Yeah, rent and mortgage pricing is outrageous in this day and age. I mean to the point where real estate owners are hoarding the progress of wealth building amongst the masses.

See, this is one semi legitimate way one could argue that the rich are impeding on the wealth of the poor

But there have always been landlords... the whole rental system was fine until the Fed dropped interest rates to zero. Now any investment at all becomes a speculative bubble which is why RE is skyrocketing. It's tangible, easy to understand, and depending on where you are generating crazy returns.

 

[IAmGettingAMailOrderBride]

Let's just exile all billionaires and make multi million companies do collective bargaining agreements

 

[DonFrancisco]

Wouldnt go into stocks w/o a ton of research.
But if youre really interested....www.tastytrade.com does a decent job of talking about stocks. They focus on options. I personally dont see myself ever fukking w/ stocks like that. Unless you have time to pour over a companies reports, its a losing battle IMO.

IMO the quickest and best way would be to start your own business.
It doesnt have to be brick and mortar (very old school and expensive). Could be eCommerce, a stand in the mall, affiliate work...basically anything you can scale.

or...real estate.
Most money is made in real estate. I personally think multi unit apartment buildings are the way (once I get enough capital im going to try my hand at it).
I forgot the name of the program...but first time home buyers can buy a building and only put down like 3%-4% as long as you live in the building for 12 months (its also much easier to get a loan for investment property as opposed to a personal buy). Could live rent free (your tenets would pay your mortgage), and then build on that as time goes on.

A new career? If I could start over, I would go into sales after highschool. Would learn how to be a great salesman...if you can sell, youll never go hungry.

You are partially correct. You have to have both securities and real estate . Also the issue with real estate that you won't face with stock is that your money is tied to something that possibly can't beat interest or worse, you get saddle with extra taxes (if you own more than one home you can't claim both to the Homestead Act) and expenses. Also you have to study real estate and the property you are buying very well. If you buy a property a high value but it saddle with problem in the medium-term you might as well have made a lose on it. With stock, honestly your best bet is to buy a stock which you are familiar with (Twitter is a good example) and know that it will rise eventually. I bought Twitter when it was at $29 a share and now it has risen in value.

 

[Cabbage Patch]

you mean the poor have debt and shyt

Now we're getting to the root.

 

[jilla82]

You are partially correct. You have to have both securities and real estate . Also the issue with real estate that you won't face with stock is that your money is tied to something that possibly can't beat interest or worse, you get saddle with extra taxes (if you own more than one home you can't claim both to the Homestead Act) and expenses. Also you have to study real estate and the property you are buying very well. If you buy a property a high value but it saddle with problem in the medium-term you might as well have made a lose on it. With stock, honestly your best bet is to buy a stock which you are familiar with (Twitter is a good example) and know that it will rise eventually. I bought Twitter when it was at $29 a share and now it has risen in value.

thats why I like multi unit rentals.
Its a constant cash flow, and youre not dependent on the property appreciating years down the line.
The country (like Europe) is moving away from buying, and towards renting.

Big money is buying up rental units all over the country right now.

 

[Blackking]

Better equip people in the bottom and middle to generate their own wealth, and protect them from having their wealth eroded by things like

- artificially expensive housing
- a goofy and unnecessarily expensive healthcare system
- free higher education
- more flexible/free childcare
- education and help for financial literacy and planning

Etc etc

If u asked 100 average people what kinds of things were keeping them from building wealth on a day to day basis, how many of them do u think would say 'the fact that someone else has more money than me'

some of this...

would need to be financed thur

higher taxes on the top 5%..
zero tax breaks for companies with overseas jobs,..

This would need to be funded... and military spending will never be decreased.

 

[Blackking]

By your logic let's say you find two people injured. One has a broken back, two broken legs, burns all over their face and body, two broken arms, and shrapnel is lodged in them. The other person has one broken leg, one broken arm and mild burning.

One of these people represents the poor in Africa and the other the poor in America.


Do we help the first person and leave the second one behind? No, we help them both.

 

[TLR Is Mental Poison]

some of this...

would need to be financed thur

higher taxes on the top 5%..
zero tax breaks for companies with overseas jobs,..

This would need to be funded... and military spending will never be decreased.

Im tired of nikkas picking and choosing what is and isnt possible to make what they want the only way forward

"No way we can cut military spending"

OK then, no way we can cut tax breaks for big companies, or hike taxes on the rich any further then.

Now wat?

Like I said/showed elsewhere.... we could pay for college no problem. I think it would only be about $120B a year which is like a quarter of the military budget and a tenth of the federal budget. Lot of the other shyt would cost a lot less if it were managed properly. U are not going to convince people who are all about their dollars to give them away to a govt that spends money carelessly... u have to rein in and smarten up the govt if u want rich people's buy in. Contrary to popular belief, rich people want everyone to prosper as well as that makes them even richer. What good is Apple stock or real estate or w/e with no customers?

 

[Blackking]

thats why I like multi unit rentals.
Its a constant cash flow, and youre not dependent on the property appreciating years down the line.
The country (like Europe) is moving away from buying, and towards renting.

Big money is buying up rental units all over the country right now.

I have rentals.. and i pay attention to the people renting. Single mom (who isn't a smut, BD is gone and the other kid she adopted not even hers, . old muslim lady on fixed income. college cac. Basically Nobody who can realistically bounce to the middle class within the next 5 years.

You're post are elitist as fukk.


It's not a poor vs rich competition.

Its a mass upward mobility thing. ITS hard AS fukk to changes classes in America. If you are born poor you will stay poor. Period. There will be that one person that makes it to the middle or upper class...........but that's very rare. This is why it's called inequality and not just called motivation differences.

The reason it's hard is because the poor are ignorant or are born into environments that perpetuate ignorance............and because the wealthy need people to exploit to remain wealthy.

Capitalist love to say that there is no morals in economic systems @DEAD7 @theworldismine13


But there is no system without the people running it and their morals and values control it. Their POV and lack of morals is why we put more towards drone budget than we invest in early childhood education (which is the most important thing in the budget, imo) . Their POV is why the drug laws are the way they are. Those laws have crippled entire communities. Just like most laws are designed against the poor.

NTM the Wealthy getting relatively richer isn't Just wrong because of the increased wealth gaps..... it's wrong because it destroys economies in the long run. Every single time we 'allowed' the Market to be solely run bylarge corps.... we've had depressions, great depressions, recessions, and the poor getting poorer. shyt doesn't work.


Why isn't the goal to have the majority of Americans in the middle class? And imo... middle class is family is a household with 100K + per year.

anyway, jimmy cater and ronald reagan started all of this. deregulating industries increases inequality. and lowers the chance of someone in the poor or middle class getting richer.

NTM, 10% of the population are controlling basically all the wealthy. They control politics and the government because they fund the players. So that's another reason why it's not as simple ' as poor people are just dumb. '

 

[Blackking]

Im tired of nikkas picking and choosing what is and isnt possible to make what they want the only way forward

"No way we can cut military spending"

OK then, no way we can cut tax breaks for big companies, or hike taxes on the rich any further then.

Now wat?

Like I said/showed elsewhere.... we could pay for college no problem. I think it would only be about $120B a year which is like a quarter of the military budget and a tenth of the federal budget. Lot of the other shyt would cost a lot less if it were managed properly. U are not going to convince people who are all about their dollars to give them away to a govt that spends money carelessly... u have to rein in and smarten up the govt if u want rich people's buy in. Contrary to popular belief, rich people want everyone to prosper as well as that makes them even richer. What good is Apple stock or real estate or w/e with no customers?

lol, rich people don't even care about other rich people unless it benefits them. Most aren't thinking about the poor . a guy making 600 Million as CEO isn't trying to hear shyt about going to 300 Millions so that his workers can go from $9 to $16 and maybe not struggle as much... maybe afford community college or new shoes for their kids.

And i think we should cut military spending...........What i meant by We aren't going to cut it is......... the very people we are discussing do not want it cut and they control the people who are in place to cut it........and the they control the campaign funds, media and in-turn the Votes of the people who the Military industrial complex affects the most.

 

[DEAD7]

lol, rich people don't even care about other rich people unless it benefits them. Most aren't thinking about the poor . a guy making 600 Million as CEO isn't trying to hear shyt about going to 300 Millions so that his workers can go from $9 to $16 and maybe not struggle as much... maybe afford community college or new shoes for their kids.

You really think thats how it works dont you?

 

[jilla82]

The reason it's hard is because the poor are ignorant or are born into environments that perpetuate ignorance............and because the wealthy need people to exploit to remain wealthy.

Capitalist love to say that there is no morals in economic systems @DEAD7 @theworldismine13


'

Bingo!

Thats all it is.
Im not about to say all rich people are immoral, because that is nonsense.

In 2014 there is a crazy amount of room for niche businesses, and its never been easier or cheaper to start & learn on your own.
People on the left dont want to teach folks the mindset of how to come up...they just want to pacify people...which is wrong.

Poor people make poor choices and then wonder why they are poor.
How about we educate them on what the game really is...instead of talking to them like they are helpless.

The world doesnt care about your problems...we arent only competing w/ people in the U.S....we are competing w/ people in Asia, Africa, & Latin America...and they are hungry!
They will work harder, and cheaper than anyone here...and know all too well what being poor really is about.

Americans are victims of our success...we are fat and lazy now...and dont realize there is a whole world of people ready to take the lead.

 

[Blackking]

You really think thats how it works dont you?

I know that a person making 600 million could care less.... because..


my boy made 3.5 Million over the last 2 years.......and for the life of him. If you had a gun to his head.... in real life you couldn't force this dude to pay the bytch who works directly in his office more than 35K. It's the craziest thing on Earth. But that's the mentality of these guys.

It's the fact that they have no morals.

 

[DEAD7]

I know that a person making 600 million could care less.... because..


my boy made 3.5 Million over the last 2 years.......and for the life of him. If you had a gun to his head.... in real life you couldn't force this dude to pay the bytch who works directly in his office more than 35K. It's the craziest thing on Earth. But that's the mentality of these guys.

It's the fact that they have no morals.

thats a pretty bold statement...

 

[Blackking]

Bingo!

Thats all it is.
Im not about to say all rich people are immoral, because that is nonsense.

In 2014 there is a crazy amount of room for niche businesses, and its never been easier or cheaper to start & learn on your own.
People on the left dont want to teach folks the mindset of how to come up...they just want to pacify people...which is wrong.

Poor people make poor choices and then wonder why they are poor.
How about we educate them on what the game really is...instead of talking to them like they are helpless.

The world doesnt care about your problems...we arent only competing w/ people in the U.S....we are competing w/ people in Asia, Africa, & Latin America...and they are hungry!
They will work harder, and cheaper than anyone here...and know all too well what being poor really is about.

Americans are victims of our success...we are fat and lazy now...and dont realize there is a whole world of people ready to take the lead.

so you think it's ok that the wealthy need to exploit to remain that way?

Would it be the end of America if most households make more than 70K?