I find it hard to believe that AOC was a successful bartender...

[West Duval Nole]

Nope. I have it right. In your scenario, after there are no more rich people, there's no one else to demonize and take their money.

Wealth is not a zero sum game. Plenty of people have more money than they will ever need. There are 21,951,000 millionaires in the US.

Probably over 22 million now. But if you take out the worth of the primary home, there is probably only about 12 -15 million.

To me the how your million in net worth makes a difference. A millionaire with a ton of debt, little cash and small investment accounts but has a bunch of equity in their house that they really aren't going to sell is not quite the same. As someone that has no debt, has a bunch in cash and moderate to low risk investment accounts and say owns a house with no mortgage worth only 250k or less.

I get on a balance sheet if you just liquidated it all, you would be at the same position. But most aren't going to do that.

 

[Hoosierhawkeye]

Nope. I have it right. In your scenario, after there are no more rich people, there's no one else to demonize and take their money.

Wealth is not a zero sum game. Plenty of people have more money than they will ever need. There are 21,951,000 millionaires in the US.

Yes it is a zero sum game. There is only so much wealth in this country and none of us can individually do more to create more wealth. The only thing we can do is try to increase the tiny percentage of if that is ours.

 

[West Duval Nole]

Yes it is a zero sum game. There is only so much wealth in this country and none of us can individually do more to create more wealth. The only thing we can do is try to increase the tiny percentage of if that is ours.

Do you really believe that an individual can not create wealth for themselves/their family unless there is another individual(s) that you are taking money from to acquire said wealth? Wouldn't that be the only way there is a zero sum?

In the grand scheme you may only be able to increase a tiny percentage of yours to the whole U.S. But why would that matter if you created wealth. Even a few million in the U.S. would be a small percentage that is yours.

It is my opinion that most people in the U.S. have the ability to create wealth, but lack the discipline and priorities to do so. It's a long term process, but most people want to get rich quick and go broke in the process of chasing that. And that is fine, people should be able to choose their priorities on what they do with the money they earn.

 

[Finance85]

Yes it is a zero sum game. There is only so much wealth in this country and none of us can individually do more to create more wealth. The only thing we can do is try to increase the tiny percentage of if that is ours.

Do tell.

Elon Musk & Jeff Bezos would disagree.

How much wealth do you need?

 

[The Tradition]

Yes it is a zero sum game. There is only so much wealth in this country and none of us can individually do more to create more wealth. The only thing we can do is try to increase the tiny percentage of if that is ours.

LOL! You think wealth is a fixed pie?

 

[Hoosierhawkeye]

LOL! You think wealth is a fixed pie?

Yes, it slowly grows (Usually) but you individually can't make it grow any faster just so you can get ahold of some.

 

[Hoosierhawkeye]

Do you really believe that an individual can not create wealth for themselves/their family unless there is another individual(s) that you are taking money from to acquire said wealth? Wouldn't that be the only way there is a zero sum?

In the grand scheme you may only be able to increase a tiny percentage of yours to the whole U.S. But why would that matter if you created wealth. Even a few million in the U.S. would be a small percentage that is yours.

It is my opinion that most people in the U.S. have the ability to create wealth, but lack the discipline and priorities to do so. It's a long term process, but most people want to get rich quick and go broke in the process of chasing that. And that is fine, people should be able to choose their priorities on what they do with the money they earn.

Not taking money from someone else but someone has to give it to you for something. Work or a goods and services.

I never got a paycheck from "created wealth", my employer never gets paid by "created wealth"

There is only so much money to go around and you can't create anymore. Only the government can print money and printing new money is generally a bad idea.

Money supply is increased by the banking system.

Do tell.

Elon Musk & Jeff Bezos would disagree.

How much wealth do you need?

Elon Musk and Jeff Bezos didn't do anything to create wealth. They created a business using their well off backgrounds to create goods and services that people wanted to purchase. This increased the value of their business which caused people to want to buy shares of their business increasing the value of their business and thus their wealth.

 

[GOHOX69]

I'd taste her nectar. Wait, what?

 

[West Duval Nole]

Not taking money from someone else but someone has to give it to you for something. Work or a goods and services.

I never got a paycheck from "created wealth", my employer never gets paid by "created wealth"

There is only so much money to go around and you can't create anymore.



Elon Musk and Jeff Bezos didn't do anything to create wealth. They created a business using their well off backgrounds to create goods and services that people wanted to purchase. This increased the value of their business which caused people to want to buy shares of their business increasing the value of their business and thus their wealth.

The total money and assets in the U.S. continues to go up. It doesn't just stay flat. While I haven't got a paycheck from "created wealth" yet. I can see wealth I am creating for my family in my retirement accounts that I have been steady investing in for over 25 years. And I have never made over 100k salary. Most of the total value will be from compounding interest not what I put in and it will be over a million before I am 55, even if I only averaged a 4% return. That and my house will be paid off before I am 50. And I have 4 kids. If I had made some smarter decisions different priorities with money earlier in life it would probably easily have been over 5 million. I am just an "Average Joe" like many in the U.S., so yes I believe it can be done by most without taking away from anyone else's money or ability to create wealth for themselves.

 

[Hoosierhawkeye]

The total money and assets in the U.S. continues to go up. It doesn't just stay flat. While I haven't got a paycheck from "created wealth" yet. I can see wealth I am creating for my family in my retirement accounts that I have been steady investing in for over 25 years. And I have never made over 100k salary. Most of the total value will be from compounding interest not what I put in and it will be over a million before I am 55, even if I only averaged a 4% return. That and my house will be paid off before I am 50. And I have 4 kids. If I had made some smarter decisions different priorities with money earlier in life it would probably easily have been over 5 million. I am just an "Average Joe" like many in the U.S., so yes I believe it can be done by most without taking away from anyone else's money or ability to create wealth for themselves.

Umm that wealth isn't created. It's just the value of your stocks going up. . . in order to get the actual money in your hands someone else has to buy the stock off you.

Therefore the only way to get the money was to get it from someone else.

 

[Rifler]

I knew she was a bartender,.. who ever said she was successful?

 

[Finance85]

Not taking money from someone else but someone has to give it to you for something. Work or a goods and services.

I never got a paycheck from "created wealth", my employer never gets paid by "created wealth"

There is only so much money to go around and you can't create anymore. Only the government can print money and printing new money is generally a bad idea.

Money supply is increased by the banking system.



Elon Musk and Jeff Bezos didn't do anything to create wealth. They created a business using their well off backgrounds to create goods and services that people wanted to purchase. This increased the value of their business which caused people to want to buy shares of their business increasing the value of their business and thus their wealth.

Do they have more wealth than they did before they created their businesses?

 

[West Duval Nole]

Umm that wealth isn't created. It's just the value of your stocks going up. . . in order to get the actual money in your hands someone else has to buy the stock off you.

Therefore the only way to get the money was to get it from someone else.

That wealth is absolutely created. Just because it is from the value of stocks going up, doesn't mean it isn't created.

And who would be more likely to buy it? Probably a wealthy person or someone trying to create wealth for themselves. Probably not a poor person. That is a much better option than relying on the government just taking and redistributing it.

 

[Hoosierhawkeye]

That wealth is absolutely created. Just because it is from the value of stocks going up, doesn't mean it isn't created.

And who would be more likely to buy it? Probably a wealthy person or someone trying to create wealth for themselves. Probably not a poor person. That is a much better option than relying on the government just taking and redistributing it.

Yeah it's too bad that poor people don't have the wealth to be able to try to invest their money in the first place.

Maybe instead of a millionare having another stock on his portfolio giving the poor the opportunity to start a retirement fund or more realistically get basic healthcare would be a better use of that money.

And the wealth is not created. It only means that your asset increased in value to the general market.

If my house increases in value does that mean my house created wealth???

 

[The Tradition]

Yes, it slowly grows (Usually) but you individually can't make it grow any faster just so you can get ahold of some.

 

[MikeyHawk]

Yeah it's too bad that poor people don't have the wealth to be able to try to invest their money in the first place.

Maybe instead of a millionare having another stock on his portfolio giving the poor the opportunity to start a retirement fund or more realistically get basic healthcare would be a better use of that money.

And the wealth is not created. It only means that your asset increased in value to the general market.

If my house increases in value does that mean my house created wealth???

So, taking money from a millionaire to give to someone you decide is poor is a better use of money?

 

[West Duval Nole]

giving the poor the opportunity to start a retirement fund

More than likely if the money was given to them, they would not choose to do that with the money.

Instead of shitting on people's dreams of becoming a millionaire by telling them it can't be done by the "average joe" and you must inherit or make some great salary all your life. Perhaps educating people on low/moderate risk long term ways to become wealthy (I would say create wealth, but know you don't consider it created) would be money better spent somewhere within our education system for people to go get it for themselves rather than telling them to rely on the government or charity to live off for the rest of their lives. While there are exceptions that may not be able to do this and do need assistance, that is the minority. There are plenty of poor people and lower middle class people that are capable and many have the work ethic to do it. Thye simply have had bad role models on how to handle money.

 

[NoleATL]

Yeah, she's got a great rack, but a great bartender also has to have a great personality to schmooze the clientele.

And more importantly, a great bartender knows who the big spenders in the room are, and prioritizes service accordingly.

But she hates rich people and has a horrible personality, so I fail to see how she could have been a successful bartender.

I love that you're so triggered by her...

 

[Hoosierhawkeye]

Yeah all of that happened under Trump. Glad you can see the cause of our current inflation occurred before Biden was president.

More than likely if the money was given to them, they would not choose to do that with the money.

Instead of shitting on people's dreams of becoming a millionaire by telling them it can't be done by the "average joe" and you must inherit or make some great salary all your life. Perhaps educating people on low/moderate risk long term ways to become wealthy (I would say create wealth, but know you don't consider it created) would be money better spent somewhere within our education system for people to go get it for themselves rather than telling them to rely on the government or charity to live off for the rest of their lives. While there are exceptions that may not be able to do this and do need assistance, that is the minority. There are plenty of poor people and lower middle class people that are capable and many have the work ethic to do it. Thye simply have had bad role models on how to handle money.

You might want to research how scarcity affects decision making.

https://www.apa.org/advocacy/socioeconomic-status/scarcity-fact-sheet.pdf

A field study in India asked participants to solve problems at different times of the year. The same people performed better after harvest, when food and money were abundant, than before harvest, when they were scarce.

Scarcity increases negative emotions, which affect our decisions. Socioeconomic scarcity is linked to negative emotions like depression and anxiety. These changes, in turn, can impact thought processes and behaviors.  People who are anxious or sad tend to be less patient; that is, they value smaller, short-term rewards at the expense of greater, long-term rewards. For example, when participants are made to feel sad, they are more likely to choose small, immediate cash rewards than to wait for larger rewards.

 

[Hoosierhawkeye]

So, taking money from a millionaire to give to someone you decide is poor is a better use of money?

Absolutely, especially when the money is reserved for needs like healthcare.

I'm not in favor of handing out money without conditions.

 

[HawkRugged17]

 

[West Duval Nole]

Yeah all of that happened under Trump. Glad you can see the cause of our current inflation occurred before Biden was president.



You might want to research how scarcity affects decision making.

https://www.apa.org/advocacy/socioeconomic-status/scarcity-fact-sheet.pdf

A field study in India asked participants to solve problems at different times of the year. The same people performed better after harvest, when food and money were abundant, than before harvest, when they were scarce.

Scarcity increases negative emotions, which affect our decisions. Socioeconomic scarcity is linked to negative emotions like depression and anxiety. These changes, in turn, can impact thought processes and behaviors.  People who are anxious or sad tend to be less patient; that is, they value smaller, short-term rewards at the expense of greater, long-term rewards. For example, when participants are made to feel sad, they are more likely to choose small, immediate cash rewards than to wait for larger rewards.

I agree personal finance is probably about 80% behavior and about 20% head knowledge. We can be trained to change behaviors.

Absolutely, especially when the money is reserved for needs like healthcare.

I'm not in favor of handing out money without conditions.

Just the money being given or all the money coming in. It is a much more a wholistic approach to look at their whole budget and how it is being spent and what can reasonably tweaked.

Most people whether poor or not don't really know where all their money goes. They know the major categories like rent and car insurance. But they probably don't realize how much they really spend on food (including groceries, restaurants and vending machines, etc.) and entertainment. And if they started doing a monthly budget, it would probably be eye opening and they may actually see where they can make some tweaks.

 

[blhawk]

I know Trad is one of the stupidest people around but I thought event that dumb shit attention whore would at least have enough life experience to know that if a bartender is an attractive woman who can keep from spilling drinks over everyone she's going to be successful.

I'm glad HROT is around so he can put his stupidity on display for our entertainment daily, there's no denying dumb people are very entertaining. Keep it up, mouthbreather

 

[NI hawk]

I knew she was a bartender,.. who ever said she was successful?

Exactly!!

 

[bdg8]

Bartender and successful don’t really belong in same sentence, do they?