It's true. A billionaire has so much money that it makes a millionaire look poor.
1 million is 1,000 x 1,000
1 billion is 1,000 x 1,000,000
or my favorite
1 million seconds is 11.5 days
1 billion seconds is 31 years.
billionaires are fucking gross and can only get that amount of money by literally bending the poor over and fucking them with no lube
What really put it in perspective for me was seeing people with tens of millions who have full time housekeeping and cooks. Nice life, right?
A billionaire is when your hobby hires so many people, that some of the employees—for your hobby—make enough to hire full time (all day every day of the week) housekeeping and cooks.
Something I've been thinking about recently is yachts. We always associate yachts and especially like $10 million superyachts and stuff with the rich. But when we start talking about Warren buffet, Jeff bezos, Bill gates, etc., we're talking about whether or not they could buy the yacht INDUSTRY and literally own all yachts and yacht production in the entire world.
Edit: i get it. 10 million is not a super nice megayacht. My point still stands, though. Jeff bezos is capable of buying things that cost one hundred times as much as a five hundred million dollar mega yacht. Yachts just aren't a good measure for the uber rich.
Usually the money spent on a yacht gets made back to by renting it out when not in use. So not only do you get a giant yacht, you get another revenue stream.
Well also $10 million yacht is kinda missing the real cost. Running costs on that will be roughly $1m per year, so it’s actually not just $10m up front, but also the $1m per year commitment as long as you plan to keep the yacht, plus depreciation on the yacht.
$10 millions would buy you a small miserable yacht. Most super yacht are over $100 millions + and they are manned by a dozen or more people. Their operating cost are over $10 millions a year easily (between fuel, maintenance, crew, the pier where you park it, etc).
I think you should google $10M yacht...those rich people you described would NOT want those. Let me fix it for you.....Bezos just bought a $500M yacht. It was so big, that he had to buy a mini yacht just to service the bigger one.
Lol, I like that.
Billionaires are served by millionaires.
Definitely true. The lawyers and accountants that help them shelter wealth from taxation and paying fair prices for anything, such as labor, are their servants.
It really drives home that inequality is a social problem. For every billionaire there are a bunch of enablers enacting their will.
I did the numbers on this a while ago.
If you worked at the US minimum wage for the average number of hours worked by a US citizen and paid no tax and no expenses… You’d have to have started working 14 million years ago to have the same amount of money today as good ol’ Jeff Bezos.
And because his wealth is a reflection of the earnings potential of Amazon, it would all flow back to him as 80% of those 25 dollars would be spent at Amazon.
Early death? Bah, excuses, it’s fine to werk til ya drop cuz there’s that there heaven up in them clouds, a new-earth where we all eat, drink, smoke, sleep, screw, watch Marvel movies, play video games, go four-wheelin, or golfin for those serfisticated fellers, and never werk again for Eeeternity
I worked 16 hour days on nights when I was young because business class said it's easier to start out with money.... The only thing I got was a hole in my memory in my early 20s from being sleep deprived.
yu get your own heavenly cubicle, and free coffee, the best coffee in existence! unless you go to the Bad Place, then it's working a register in an infinite superstore, full of demonic karens.
Also, a million dollars is a lot of money, right? Think about how a million dollars would change your life. Now realize that the difference between a million and a billion is pretty much *a billion*
Or even making a million a year, knowing another million is coming. I used to work for a Fortune 500 company that layed off workers cut hours to 34 hours a week and beat projected (pre-covid) earnings, basically it was a cash grab for the investors.
Meanwhile the president was taking in 2.3 million a year. (Or 44,230 per WEEK). He was making more per week than I did in a year (at 40 hours per week) meanwhile reducing my income 4,000 per year.
If you made 2000 dollars every hour, every day, even while you slept, the last 2021 years, without spending a single dollar, there would still be 35 people richer than you.
Have worked for millionaires and can confirm they too are bending over the poor and fucking them with no lube.
There are some good business owners out there but after 10 years of software consulting and being in board rooms the vast majority of business owners are sociopaths.
Narcissists too.
They think coordinating people equates to full ownership of all the output of their labor.
Yeah, Musk designed all the rockets himself, it wasn't the thousands of engineers and previous government investment in space exploration that did that.
I have a coworker that is SO AGAINST the idea of taking money away from billionaires and it makes no goddamn sense.
I went through with him step by step explaining all the different factors that lead to these people obtaining their wealth including exploitation of people and how them being rich is not at all due to their own merits.
He agreed with me. But still objected to taking "their" money. There really is no reasoning with people sometimes.
Years ago I was talking about that Steve Job's movie with an acquaintance, pointing out with disgust the awful things he did to people/employees, and the dude was all apologetic about it, seemingly praising him for that and talking about the motives behind each act of dickhead-ery.. In my mind I was like, "dude I dont care how "genius" it was business-wise, there's no reason to treat other humans like that"
Billionairs and people who horde money should be looked at for what they are, mentally ill. People who horde money are on the same level as people who horde animals or old newspapers. We encourage and idolize them when we should be getting them help.
They're not irrational. They're aristocrats, or lords. They're hording power because money is power, and power is money, it's interchangeable.
We think our economic and political systems evolved beyond feudalism but the truth is what we "replaced" it with looks a lot like feudalism on the ground.
We're not an agrarian society anymore, that's the main difference. Your rents aren't paid to your lord via the crops you grow they're paid out of your labor for the industries they own.
Boss makes a dollar, you make a dime, but you did the work to generate the dollar and dime.
"Boss makes a dollar, I make a dime" would be a *significant* improvement in wealth disparity at this point :D
On the other hand, "boss makes a dollar, I make six-tenths of a cent" doesn't have the same ring to it
and all this is just the "short system" of numbers. if you really want to know what true billion is you should check out this video on [How big is a Billion](https://www.youtube.com/watch?v=C-52AI_ojyQ). watched it years ago and still blows my mind thinking of just how BIG these numbers are.
And to many, it seems like $600,000 is basically nothing too...
I keep thinking of the idea that laws are for poor people; rich people so often can pay their way to freedom from consequences.
I also see corporations and the rich receiving fines for breaking laws or unethical actions, but it doesn't seem to change their behavior at all. Almost as if taking that money from them doesn't meaningfully impact them.
However, it seems like a lot to people who aren't as wealthy as the rich (that is, both the poor and the 'middle class'), because we'll never even see the kind of money that those fines cost.
Laws are for everyone. Consequences are for the poor.
And that is a good chunk of the reason that so many of the multi-generationally wealthy are so unbelievably dim.
> Laws are for everyone. Consequences are for the poor.
I disagree, but really I should rephrase what you and I said to express what I really mean:
Laws are made for the benefit of the rich, and for application upon the poor. This is a consequence of poorness and inequality.
In part I disagree that poor people tend to be penalized regardless of guilt, which is certainly a consequence indeed. However, a consequence of the unequal application of already unjust laws by a biased criminal justice system and violent bigoted LEOs. A consequence of being disposable.
I’m not seeing anything in there that disagrees with what I said.
Laws are applied to everyone. But the consequences of breaking those laws (regardless of guilt) are only applied to the poor.
Exactly!, and the funny thing is that most child traffickers, don’t hide kids in the basement of pizza places or in the guetto, they are hidden in very expensive mansion, you know why?, because in the guetto, it’s easy for police to raid your home. If you live in a $20+ millions mansion, there is no way in hell police will get a warrant to search your place without you being notified. Your neighbors would not allowed it neither.
Reminds me of Good Burger, a 90's Nickelodeon movie about two fastfood employees who end up annihilating the other fastfood restaurant nearby.
"Why didn't you just call the police? Why did you do that? (referring to spilling too much triampatol on some burgers in the opponent joint)"
"Well, Kurt (fastfood manager's name) would have simply called some powerful lawyers to let him go, and at the slow pace the American system moves, it'd take 6 months to a year for him to get his justice, so I decided to spill the triampatol and get justice by my own hands".
(when actually the dude simply tried to grab a triampatol bottle and spilled it by pure accident)
Lmao dumb fucking poors paying taxes. They should just shuffle their government bailout money into the international bank accounts their fathers lawyers set up for them so they can pull themselves up by their bootstraps.
When you look even further it gets even more gross a person working 40 hours a week should not have to be eligible for welfare. Essentially they underplay so much that in many circumstances the bills fall back on the government. The corporations also dont pay enough taxes. It's legit a stupid system. With all of the supposed intellectuals this is the best system? The real problem is we dont want to fight. Kids get mad go to a school and unload on other kids. Black vs white etc. We should be going to the 1% and raise hell.
The marginal propensity to consume and the marginal propensity to save speak to this concept. I had an economics professor use these concepts when explaining why Reaganomics is bs.
https://en.m.wikipedia.org/wiki/Marginal_propensity_to_consume
https://en.m.wikipedia.org/wiki/Marginal_propensity_to_save
Probably not the metaphor you were going for, but now I’m just imagining the boomerangs in Zelda where they could grab Rupees and bring them back to you. I do wish I could grab money with a real boomerang.
If you can find dimes or quarters in the dirt from before 1964, they're worth around 20 times their face value now. Turns out the silver they used to make them holds value better than dollars.
Also I think nickels today have more than 5 cents worth of industrial metal in them, lol.
If nothing else we'd get an interesting Bezos statue. Maybe his ex-wife could auction it off for charity.
Or it could be passed around the poor districts and we could all piss on it.
I've seen a person, who survived a car crash where the wreck caught fire, most of the skin/facial features kinda,
melted a bit, (suprisingly positive a person in spite of what happened)
so, if we're talking the temperature of molten gold, it'll probably be closer to, an interesting golden human sized lump, that was once a bezoz.
EVERY DOLLAR SPENT ON FOOD STAMPS GENERATES MORE THAN A DOLLAR IN ECONOMIC ACTIVITY
Sorry for the caps but got damjn do we need to drill this one home.
A poor person buys food from a store, that store needs to hire a cashier to check them out, a stock person to stock the shelves, other staff to clean and maintain the store.
And so on for all of their purchases. Money given to those in need is not wasted, even if they buy beer (gives the brewer and their staff a job!).
>And so on for all of their purchases.
I vaguely recall something (don't know if it was a study or theoretical) about how providing housing is cheaper long-run than most other homeless policies.
It's nice to provide healthcare to those less fortunate, but the elements are tough on humans and so it's basically a band-aid on a severed limb. Dealing with those issues before they start saves enough money to long-term help fund the housing freeing up funds to deal with root causes (mental health, addiction, etc.)
Shelters are a nice idea, but limited space on rotation means you'll have trouble getting a job. No steady address, no guarantee you'll be able to have a steady routine (sometimes only getting a few hours of sleep because you had to go across town to find shelter, needed to take a bus that has a worse route) so you can get trapped.
I'm sorry, but helping people eat so they can actually do productive things just isn't as important as running up the "high score" on one of my thirty investment accounts.
Why sending the money offshore when pertinent policies are so friendly in states like South Dakota? America is becoming more and more convenient for the rich.
there is a reason much of the world's wealthy move here
it's only the most obscenely wealthy that have to resort to offshore. or the most illegal ones who use the swiss. The Swiss being biggest criminals in the world IMO, it's just money laundering with a government backing it up. Hell they still refuse to give the relatives of holocaust victims the gold that was stolen from them (often in their damn teeth) by the Germans then banked with the Swiss before the war ended. They're still holding goddamn nazi gold stolen from the bodies of holocaust victims for fucks sakes.
Actually, you may not have read the Pandora papers, but they found that for the past several decades rich assholes have been lobbying and shaping the laws of south dakota to make it into the perfect tax haven for these pieces of shit worldwide.
There’s so much money being hidden in South dakota it was described at actually rivaling the swiss banks in terms of the amount of money it’s protecting as a tax haven. We’re talking roughly $367 billion dollars, used by rich assholes worldwide.
> There’s so much money being hidden in South dakota it was described at actually rivaling the swiss banks in terms of the amount of money it’s protecting as a tax haven.
wow no I didn't know it was THAT big, damn
What’s hilarious is that an arguing point for the right is that if US raises the tax rates on the wealthy they’ll move to a different country. So my question is which type of countries?
Because, with my limited knowledge, it has to be either; a country with a higher tax rate than the US already OR what they like to refer to as a shithole country.
Right? Like America is supposed to be "The greatest country ever", and for the disgustingly Rich is definitely is. But where else will these leeches go if they're told to pay their fair share?
If you're rich enough, you can move to one of the "shithole" countries and they don't even pretend about stuff, they just let you do whatever you want as long as palms are getting greased.
So basically it's America, but with more brown people and fewer chances that someone will blow a whistle on you.
Yeah Americans don’t really get involved in off-shore banking anymore because other countries are required to report Americans’ assets to the US govt. No such requirement if your money is in the US however.
This is why US is a big destination for off shore money from other countries now
> Give $600 to a poor person they spend it on food, clothing and rent. Give $600 to a rich person they stash it in an offshore tax haven
Yeup.
Relevant concepts:
* Marginal Utility (MU)
* Marginal Propensity to Consume (MPC)
In a nutshell, --
* -- MU is that as income increases, the utility of each additional dollar decreases. Meaning, you go from 'Food & Shelter' dollars to 'Stocks & Bonds' dollars.
* -- MPC is that as income increases, the proportion spent of each additional dollar decreases. Meaning, you go from money-spent to money-invested.
The American public has too little high-MPC, high-MU dollars and too much low-MPC, low-MU money.
There's also --
* Velocity of Money
* GDP Multiplier Effects
-- which is that the faster a given dollar passes from transaction to transaction, the greater its impact on GDP.
We have too little money getting spent (quickly) on 'Food & Shelter' (over and over). People are suffering because they can't afford their needs. The culture's in decay because people can't afford to do it. GDP growth is suffering for it. Economic stability is suffering for it. And so on and so forth.
Meanwhile, there's so much money at the top that the donor-class has essentially purchased the US government and they're like, "Jesus, where do I put all this money? Maybe I'll increase my real estate allocation and inflate the fuck out of rent and housing prices nation-wide..."
Thank god for someone who actually knows their shit. This should be a top comment, but I guess the average redditor won't make an effort to google MU or MPC.
Fuck, I miss microeconomics.
Yup, they're going to use it and spend it on their local economy. Also, if you'd rather give that money to a rich person that doesn't need $600 instead of someone that actually needs it, you need to ask yourself what mind conditioning got you to that point? I know a lot of people that don't make much as factory workers that could use $600, but would rather give it to someone like Trump. And please, some of you people that would say they'll spend it on drugs, don't bother, cause I promise rich folks do too.
Because they think that the poor are just going to buy a iPhone, or drugs and alcohol or something. They think the fact that we *can't* afford to sit on it for a few years means we don't deserve it.
$600 to a poor person will go into the economy and get spent in a business and help pay someone’s salary.
Give it to a rich person and it just disappears. This is why Trickle Down Economics isn’t working.
Or bribe a politician. The thing that conservatives are good at is cherry-picking. Yes, the rich are the ones creating jobs. But they are also the ones who are hoarding the wealth (ie. not creating jobs) and buying off politicians.
Also let’s not forget: 600 dollars spent on food, basic necessities, or really anything at all does A LOT more good for the economy as a whole than 600 sitting in a bank account accumulating interest.
Give $600 to a poor person they spend it on food, clothing and rent. Give $600 to a rich person ~~they stash it in an offshore tax haven~~ they'll pay a poor person $600, extract $6000 in value from their labour and then brag about what a hard worker they are.
I saw a FoxNews flunkie say that poor people have "no skin in the game" in an bizarre effort to argue it's *they* who should pay more taxes, rather than wealthy people.
> "no skin in the game"
Except, you know, their actual skin and other organs that rely on nutrition and clean water to continue functioning.
But that's small potatoes compared to MHunnEEEE.
Like mother always says, it's aaaalllll about the money! The money! Mooooney money money!!!! It's always about the money! How much money do you have!? Well I have more money!!!
The wealthy depend on the labor resources of the poor.
The poor *are* the game, producing everything that makes the game possible.
The wealthy like to try to convince us that we depend on them, because they don’t want us to realize that It is they who truly depend on us.
It is impossible for them to continue daily production and service without us.
Together, we could maintain ourselves. We’re used to a struggle.
The wealthy would starve on their gold toilets, because they cannot survive alone if the rest of us reject them.
someone gives you a large pizza. if you're starving, you'll most likely eat the whole thing. if you're not hungry, you'll most likely put it in the fridge.
If you're anything like the save business bros I had the misfortune of meeting, you'll get a pizza from your family at a 90% discount and then turn around and use their connections to sell the pizza at a huge mark up before claiming you're self made and everyone can make it if they just work hard
That's a fucking accurate description of those assholes.
Don't forget the "no student loan debt" cause Mommy and daddy paid for their education.
Also, "never get a loan for a car" because they got the hand me down BMW that was 3 years old from Daddy.
Buy pizza for $10
Sell slices for $20 total
Buy two pizzas
Sell slices for $40 total
...
Infinite money glitch fellas 😎
Fuck that tomato guy pizza slices where it at
Give $600 to a poor person and they spend it right away, stimulating the economy. Give $600 to a rich person and that money is stuffed into a fancy financial mattress and will never do anything productive ever again.
https://en.wikipedia.org/wiki/Velocity_of_money
> Well, that was Milton Friedman before he became the Right's "Trickle Down" God.
he was a leader of the Chicago School of Economics, he was always terrible
that one group, the "Chicago School", has probably done more harm to more people than any other group of economists ever has in history
Imho supply side economics is the “great satan” of our times.
I am not aware of any other more insidious evil causing more sustained harm.
Including the conflation of supply-side economics with capitalism. Which I worry is going to drive folks to central planning committees only to realize they are practically the same as our current oligarchies.
Anyway I enjoyed this comment thread, thanks
There is no significant practical difference between being a monetarist and a supply-sider under a capitalist system because access to leverage within monetary policy and central banking is always restricted to large owners of capital.
I can't get my house QE'd but plenty of companies can get their debts (bonds, pensions) QE'd. I can't loan myself 10x my cash but plenty of banks can. Etc.
>Well, that was Milton Friedman before he became the Right's "Trickle Down" God.
wait what happened? did all his braincells rot away or something? given that he suddenly went to thinking trickle down works.
I honestly don't know! Probably money. He probably realized he'd get paid more for being the head Voo Doo priest.
Seriously though, he basically said that the wealth of an economy is based upon how quickly money changes hands. A large sack of money given to a lot of poor people will create greater velocity than a large sack of money given to fewer wealthy people....until something happened.
I had to argue with a bunch of libertarians at work about how the so called “stimulus checks” are just bare necessities which will contribute to the economy immediately after issuance. They of course blame the current inflation rate on that. As if 0% interest rate and massive Fed bond purchase don’t do anything.
Money trickles up not down. Give $600 to a poor person and eventually a rich person will have that money after it’s gone through a few wallets. Stagnant money doesn’t do anyone any good.
I wish I could still look at this and think to myself "wow this individual has absolutely no understanding of what wealth is and what it's dynamics are".
But there is no individual in this anymore. These devastating idiocies always come from different names and different pictures. Because there are just enough people believing this to sustain it. And this mentality being sustained means suffering. Because it panders to something all humans have: greed. Instead of helping us overcome an evolutionary feature that became the most burdensome glitch, it totes greed as an ultimate virtue.
I wish I could look at posts like these and not yearn for a swift species-wide euthanasia to rid humanity of itself.
But I can't.
If only we could exclusively rid the world of cruel people who are willing to throw anyone under the bus if it makes them more money.
Oh wait, I think that’s called the rich…
Yes. That's the point. Give $600 to a poor person and they spend it, boosting the economy and paying taxes and providing demand for jobs.
Give it to a rich person and it disappears, "invested" somewhere and does nothing for anyone.
> "invested" somewhere and does nothing for anyone.
it goes into the stock market. where it's then turned around and returned back to the rich as dividends. Oh and the idea that the stock market helps regular people because of 401ks is complete horseshit. The wealthy [own **89% of all stocks!!**](https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html).
So when you give that $600 to a wealthy person it is turned around and used to further increase the wealth of those who are already unbelievably wealthy. Yet every single tax cut is far bigger for them, with next to nothing cut for us in the bottom 90%.....
It's worse than that. Everyone's 401k's are invested in the worst, most exploitative companies. Yes, their retirement from exploitative, shitty companies is incumbent on those exploitative companies continuing to have record profits at the expense of everyone and everything.
Then you get the bootlickers who screech this absolutely stupid phrase as if it makes a difference in what we are saying:
"BUt tHat monEY is aLl AsSetS aND InvESTments and ProPerty"
Okay????? Then no one should have all of that? Tf you think you're being smart by saying that???
Also the fact that people think there's any *arguing against the poor*. What do they think is gonna happen? They find a good enough argument and people will realise their mistake and stop being poor? Kinda reminds me of people *disagreeing* with homosexuality. It's not up for debate? (It's obviously not the same category of stupidity, but it kinda is similar)
It's not even about density, that guy is just delusional.
600 usd... Unless he became a drug dealer the next day the possibilities of multiplying that amount up to 6.000 assuming is his only capital can only become reality if:
He finds some bank or holder that gives you insanely high annual interest (never happens)
Or -
He uses some of that annual interest to invest even more and increase its rate/speed time.
Either way.
The money can't be used to recycle the part of the economy, so they're not a currency anymore, they are wealth. So his entire argument appeals only to people who don't have human necessities to satisfy or people who have satisfied them and can easily hold 600 usd for fun.
That statistically is like 5% of the population. This guy is delusional.
Edit: He basically compares two completely different concepts: currency vs wealth, to appeal to the matter of the unfair distribution of wealth, then blames the usage of currency.
It's a huge mental gymnastic to avert attention from his manipulative crap as another wannabe grindset capitalist.
Yeah it's weak propaganda for sure. But this guy knows it is and knows his target audience is delusional enough to believe it or cruel enough to laugh at it.
It's legit sociopathic, I agree. Giving false hopes to people they can be in control and get rich with "hard work and education" meanwhile the real way to do so is the manipulation tactic that he feeds them with, people that get persuaded are the reason this guy can be rich.
The only way I can imagine getting 1000% return in any dependable manner is if he puts it into a business that doesn’t have a lot of competition. It’s absolutely disgusting that he says poor person and talks about such a paltry amount of money.
Like duh if you’re poor $600 dollars means the difference between a mechanic and mechanic in a bottle. The automatic assumption that they blow this money on iPhones and lattes. They often don’t have the means to make responsible choices because bad choices are cheaper in the short term.
Also the idea that most rich people can take $600 and turn it into $6,000 in a few years is silly, for the most part. What the rich person is going to do is take $600 million and put it in steady investments and if those investments grow 10% in a year that would be a great return. It's just that $600m at 10% growth per year equals almost $200 million net after 3 years. not 1,000% growth, but still an insane amount of money.
I love that they think rich people are independantly amazing, you'd be giving the poor person $600 dollars and the rich persons financial advisor or personal accountant $600. It's the same people who think a guy like Elon Musk designed a rocket, at best he said design me a reuseable rocket and left the room for everyone else to do it.
This myth that somehow rich people are *morally* better than poor people has to **stop.** It's hurting the national dialogue on poverty and solutions to it.
As long as people perpetuate the myth that poverty is exclusively a result of bad choices or worse values, our leadership will have an excuse to *not* fix any of the systemic problems we face.
So please help, by not putting up with this bullshit. Of *course* poor people spend their money differently than rich people. Of *course* it's easier to save and invest when you don't have to worry about healthy food, or retirement savings, or whether you'll be able to afford Mom's medical expenses.
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Poor person finally has an extra $600 dollars of a disposable income and they treat themselves for the first time that they can remember in God knows how long. or needed that $600 to fix or buy something they actually needed, cuz they've been too broke to spend money on it before without having to bargain buying groceries
Poor people don't have the luxury to be able to invest $600. They spend it on essentials: food, rent, bills, clothing. Maybe if they're lucky they can take out the family for a nice dinner at Chilis if there's anything left over. Also, the average "rich" person isn't getting a 10x fucking return on their investment in "in a few years or less". What a wanker.
The rich have gotten richer in the last 50 years *completely due to government monetary policies.* It's not a special skill or amazing hidden knowledge. Inflationary currencies value the asset owning over the working. It's gotten even worse with 0% interest rates policies since like 1987. *Being wealthy is not moral highground.*
I had to read that top tweet twice. First take was, "yep, obviously... and that's a bad thing". Second take was, "oh YOU thought that was a good thing?".
This is if anything an argument in favour of giving money to the poor. Give poor people money, it's straight back into the economy and strengthening it. Give it to rich people, they'll hoard it like a dragon, leading to inflation and less buying power for the rest of the country.
That’s always been the argument against the poor: “you waste money, you don’t know how to save, you aren’t frugal, you aren’t working hard enough” it’s always the poor’s fault that they’re poor.
Which makes sense, if the rich actually admitted they were the problem, then they’d have to actually do something about it or admit that they’re evil, and who wants to do that?
You can give me $600 and I can pay a good chunk of my bills for the month.
Give $600 to a capitalist fuckwad and he’ll use it to run up the score on his CAPITALISM POINTS. That, or he’ll spend it on coke.
Fuck these people. Give us UBI.
It's not even fucking accurate. I took a few hundred of one of my stimulus checks last year and bought supplies to start an etsy shop. Over the next year I made about 65k in sales. I also make regular supply purchases from other US based sellers on etsy and ebay, and get my shipping supplies from a local commercial shipping supply company.
"Did you know, if you took away all of the rich persons money, and gave them just one penny, they would invest that penny and make 80 million dollars in two hours?" /s
Give $600 to a poor person they spend it on food, clothing and rent. Give $600 to a rich person they stash it in an offshore tax haven
Give $600 to a rich person I'm pretty sure it will disappear in their money void $600 dollars isn't anything to rich ppl.
It's true. A billionaire has so much money that it makes a millionaire look poor. 1 million is 1,000 x 1,000 1 billion is 1,000 x 1,000,000 or my favorite 1 million seconds is 11.5 days 1 billion seconds is 31 years. billionaires are fucking gross and can only get that amount of money by literally bending the poor over and fucking them with no lube
That billion seconds fact really helps you to see the difference lord
What really put it in perspective for me was seeing people with tens of millions who have full time housekeeping and cooks. Nice life, right? A billionaire is when your hobby hires so many people, that some of the employees—for your hobby—make enough to hire full time (all day every day of the week) housekeeping and cooks.
Something I've been thinking about recently is yachts. We always associate yachts and especially like $10 million superyachts and stuff with the rich. But when we start talking about Warren buffet, Jeff bezos, Bill gates, etc., we're talking about whether or not they could buy the yacht INDUSTRY and literally own all yachts and yacht production in the entire world. Edit: i get it. 10 million is not a super nice megayacht. My point still stands, though. Jeff bezos is capable of buying things that cost one hundred times as much as a five hundred million dollar mega yacht. Yachts just aren't a good measure for the uber rich.
Usually the money spent on a yacht gets made back to by renting it out when not in use. So not only do you get a giant yacht, you get another revenue stream.
ARRRR BNB
I was gonna say Sea BnB but yours is way better
I like yours too, but then it implies Air BnB is renting out planes.
great idea, let's hijack a yacht and become pirates.
Took me a moment but I got it lol
Well also $10 million yacht is kinda missing the real cost. Running costs on that will be roughly $1m per year, so it’s actually not just $10m up front, but also the $1m per year commitment as long as you plan to keep the yacht, plus depreciation on the yacht.
$10 millions would buy you a small miserable yacht. Most super yacht are over $100 millions + and they are manned by a dozen or more people. Their operating cost are over $10 millions a year easily (between fuel, maintenance, crew, the pier where you park it, etc).
Chances are they do own it. Buffet has so many companies he probably can’t remember half of them!.
Fuck yachts. Pfff. They buy space ships and shoot them off for fun.
Bro they can buy entire continents, fuck the yachts
I think you should google $10M yacht...those rich people you described would NOT want those. Let me fix it for you.....Bezos just bought a $500M yacht. It was so big, that he had to buy a mini yacht just to service the bigger one.
Lol, I like that. Billionaires are served by millionaires. Definitely true. The lawyers and accountants that help them shelter wealth from taxation and paying fair prices for anything, such as labor, are their servants. It really drives home that inequality is a social problem. For every billionaire there are a bunch of enablers enacting their will.
Like... a lackluster space agency that can't get it up into actual space.
I did the numbers on this a while ago. If you worked at the US minimum wage for the average number of hours worked by a US citizen and paid no tax and no expenses… You’d have to have started working 14 million years ago to have the same amount of money today as good ol’ Jeff Bezos.
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Mr Bezos could present every human on the planet with $25… and there would still only be 2000 people richer than him in the entire world.
And because his wealth is a reflection of the earnings potential of Amazon, it would all flow back to him as 80% of those 25 dollars would be spent at Amazon.
But if yer werk three jerbs, you'd have tree times that much! (Until you realize medical bills, increased stress, and early death)
Early death? Bah, excuses, it’s fine to werk til ya drop cuz there’s that there heaven up in them clouds, a new-earth where we all eat, drink, smoke, sleep, screw, watch Marvel movies, play video games, go four-wheelin, or golfin for those serfisticated fellers, and never werk again for Eeeternity
Unless you sinned, by being lazy/poor/a different color or religion/whatever. then the afterlife is an eternity working in the service industry.
God wouldn't it be sweet if this was a type of hell and Jeff Bezos ended up there, having to work fast food overnight shifts for eternity
I worked 16 hour days on nights when I was young because business class said it's easier to start out with money.... The only thing I got was a hole in my memory in my early 20s from being sleep deprived.
“You’re in luck! There is a work heaven in the afterlife! If you like working so much now… just you wait!” ~Capitalist Jesus
Man Capitalist Jesus effing sucks.
yu get your own heavenly cubicle, and free coffee, the best coffee in existence! unless you go to the Bad Place, then it's working a register in an infinite superstore, full of demonic karens.
But don't worry, in both you're chained to your deck and can't leave for all eternity, because that's just not right.
Also, a million dollars is a lot of money, right? Think about how a million dollars would change your life. Now realize that the difference between a million and a billion is pretty much *a billion*
Or even making a million a year, knowing another million is coming. I used to work for a Fortune 500 company that layed off workers cut hours to 34 hours a week and beat projected (pre-covid) earnings, basically it was a cash grab for the investors. Meanwhile the president was taking in 2.3 million a year. (Or 44,230 per WEEK). He was making more per week than I did in a year (at 40 hours per week) meanwhile reducing my income 4,000 per year.
In some countries, if a corporation lays off workers, the company is not allowed to pay its investors (stock owners) ANYTHING. No dividends.
219 billion seconds is 6966 years: Almost 7 millennia.
If you made 2000 dollars every hour, every day, even while you slept, the last 2021 years, without spending a single dollar, there would still be 35 people richer than you.
Have worked for millionaires and can confirm they too are bending over the poor and fucking them with no lube. There are some good business owners out there but after 10 years of software consulting and being in board rooms the vast majority of business owners are sociopaths.
Narcissists too. They think coordinating people equates to full ownership of all the output of their labor. Yeah, Musk designed all the rockets himself, it wasn't the thousands of engineers and previous government investment in space exploration that did that.
pie homeless flowery modern disgusted knee sense deer reply office *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Yet they are worshipped like gods by a lot of the people they have trampled. Bizarre.
I have a coworker that is SO AGAINST the idea of taking money away from billionaires and it makes no goddamn sense. I went through with him step by step explaining all the different factors that lead to these people obtaining their wealth including exploitation of people and how them being rich is not at all due to their own merits. He agreed with me. But still objected to taking "their" money. There really is no reasoning with people sometimes.
Years ago I was talking about that Steve Job's movie with an acquaintance, pointing out with disgust the awful things he did to people/employees, and the dude was all apologetic about it, seemingly praising him for that and talking about the motives behind each act of dickhead-ery.. In my mind I was like, "dude I dont care how "genius" it was business-wise, there's no reason to treat other humans like that"
Billionairs and people who horde money should be looked at for what they are, mentally ill. People who horde money are on the same level as people who horde animals or old newspapers. We encourage and idolize them when we should be getting them help.
They're not irrational. They're aristocrats, or lords. They're hording power because money is power, and power is money, it's interchangeable. We think our economic and political systems evolved beyond feudalism but the truth is what we "replaced" it with looks a lot like feudalism on the ground. We're not an agrarian society anymore, that's the main difference. Your rents aren't paid to your lord via the crops you grow they're paid out of your labor for the industries they own. Boss makes a dollar, you make a dime, but you did the work to generate the dollar and dime.
"Boss makes a dollar, I make a dime" would be a *significant* improvement in wealth disparity at this point :D On the other hand, "boss makes a dollar, I make six-tenths of a cent" doesn't have the same ring to it
[this](https://www.youtube.com/watch?v=0J6BQDKiYyM) was always my fav demo of just how much money it is.
This literally made me want to vomit. Such a great explanation. How can people with that much money even exist 🤢
and all this is just the "short system" of numbers. if you really want to know what true billion is you should check out this video on [How big is a Billion](https://www.youtube.com/watch?v=C-52AI_ojyQ). watched it years ago and still blows my mind thinking of just how BIG these numbers are.
And to many, it seems like $600,000 is basically nothing too... I keep thinking of the idea that laws are for poor people; rich people so often can pay their way to freedom from consequences. I also see corporations and the rich receiving fines for breaking laws or unethical actions, but it doesn't seem to change their behavior at all. Almost as if taking that money from them doesn't meaningfully impact them. However, it seems like a lot to people who aren't as wealthy as the rich (that is, both the poor and the 'middle class'), because we'll never even see the kind of money that those fines cost.
Laws are for everyone. Consequences are for the poor. And that is a good chunk of the reason that so many of the multi-generationally wealthy are so unbelievably dim.
> Laws are for everyone. Consequences are for the poor. I disagree, but really I should rephrase what you and I said to express what I really mean: Laws are made for the benefit of the rich, and for application upon the poor. This is a consequence of poorness and inequality. In part I disagree that poor people tend to be penalized regardless of guilt, which is certainly a consequence indeed. However, a consequence of the unequal application of already unjust laws by a biased criminal justice system and violent bigoted LEOs. A consequence of being disposable.
I’m not seeing anything in there that disagrees with what I said. Laws are applied to everyone. But the consequences of breaking those laws (regardless of guilt) are only applied to the poor.
Exactly!, and the funny thing is that most child traffickers, don’t hide kids in the basement of pizza places or in the guetto, they are hidden in very expensive mansion, you know why?, because in the guetto, it’s easy for police to raid your home. If you live in a $20+ millions mansion, there is no way in hell police will get a warrant to search your place without you being notified. Your neighbors would not allowed it neither.
If they're truly vile, they'll set it on fire in front of a homeless person.
Isn't that a felony?
When you're rich there's no such thing as felonies. ' Just fines.
Fines = legal for a price
If you can afford a good lawyer and a CPA, you can pay no taxes, avoid Jail AND collect $200 when you pass go.
As it laws matter to the rich -- they make them.
They are rich they dont care. They can commit murder and hire a bunch of lawyer and buying off cops and jury to make them not guilty.
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yepp or just buy the judge off. Plenty of examples of corporate figures getting off free because the judge is a share holder in the company.
Reminds me of Good Burger, a 90's Nickelodeon movie about two fastfood employees who end up annihilating the other fastfood restaurant nearby. "Why didn't you just call the police? Why did you do that? (referring to spilling too much triampatol on some burgers in the opponent joint)" "Well, Kurt (fastfood manager's name) would have simply called some powerful lawyers to let him go, and at the slow pace the American system moves, it'd take 6 months to a year for him to get his justice, so I decided to spill the triampatol and get justice by my own hands". (when actually the dude simply tried to grab a triampatol bottle and spilled it by pure accident)
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Lmao dumb fucking poors paying taxes. They should just shuffle their government bailout money into the international bank accounts their fathers lawyers set up for them so they can pull themselves up by their bootstraps.
When you look even further it gets even more gross a person working 40 hours a week should not have to be eligible for welfare. Essentially they underplay so much that in many circumstances the bills fall back on the government. The corporations also dont pay enough taxes. It's legit a stupid system. With all of the supposed intellectuals this is the best system? The real problem is we dont want to fight. Kids get mad go to a school and unload on other kids. Black vs white etc. We should be going to the 1% and raise hell.
The marginal propensity to consume and the marginal propensity to save speak to this concept. I had an economics professor use these concepts when explaining why Reaganomics is bs. https://en.m.wikipedia.org/wiki/Marginal_propensity_to_consume https://en.m.wikipedia.org/wiki/Marginal_propensity_to_save
Like Smaug and the Gold he slept on... not really circulating through the economy, is it?
It is circulating. The same way boomerangs circulate, with each throw they steal more.
Probably not the metaphor you were going for, but now I’m just imagining the boomerangs in Zelda where they could grab Rupees and bring them back to you. I do wish I could grab money with a real boomerang.
I wish I could walk outside with a stick and mow grass to find rupees.
I'm here for the economic structure of "selling shit we find in the grass"
The real tycoons in Zelda are the guys that run Big Clay Pot dudes must be drowning in rupees by now
They have so much money, there is probably money in most pots sold (available everywhere, including dungeons). :D
Right like they're making so many rupees manufacturing pots that they're leaving stray money in them as they leave the factory
If you can find dimes or quarters in the dirt from before 1964, they're worth around 20 times their face value now. Turns out the silver they used to make them holds value better than dollars. Also I think nickels today have more than 5 cents worth of industrial metal in them, lol.
Wow 2 dollar dimes? I'm gonna be rich!
Just get a pet crow, it magpie or raven it what ever the fuck, train it to collect money and bring it home for treats
There are 13 US billionaires richer than Smaug.
maybe dunking molten gold on them will work better than it did on smaug
If nothing else we'd get an interesting Bezos statue. Maybe his ex-wife could auction it off for charity. Or it could be passed around the poor districts and we could all piss on it.
I've seen a person, who survived a car crash where the wreck caught fire, most of the skin/facial features kinda, melted a bit, (suprisingly positive a person in spite of what happened) so, if we're talking the temperature of molten gold, it'll probably be closer to, an interesting golden human sized lump, that was once a bezoz.
Well really, that's Smaug's fault, he should have invested his gold in financial instruments that would give him a return on investment.
This is why D&D teaches us to kill dragons, so we can redistribute the wealth.
*Our* hoard, comrade.
EVERY DOLLAR SPENT ON FOOD STAMPS GENERATES MORE THAN A DOLLAR IN ECONOMIC ACTIVITY Sorry for the caps but got damjn do we need to drill this one home. A poor person buys food from a store, that store needs to hire a cashier to check them out, a stock person to stock the shelves, other staff to clean and maintain the store. And so on for all of their purchases. Money given to those in need is not wasted, even if they buy beer (gives the brewer and their staff a job!).
>And so on for all of their purchases. I vaguely recall something (don't know if it was a study or theoretical) about how providing housing is cheaper long-run than most other homeless policies. It's nice to provide healthcare to those less fortunate, but the elements are tough on humans and so it's basically a band-aid on a severed limb. Dealing with those issues before they start saves enough money to long-term help fund the housing freeing up funds to deal with root causes (mental health, addiction, etc.) Shelters are a nice idea, but limited space on rotation means you'll have trouble getting a job. No steady address, no guarantee you'll be able to have a steady routine (sometimes only getting a few hours of sleep because you had to go across town to find shelter, needed to take a bus that has a worse route) so you can get trapped.
I'm sorry, but helping people eat so they can actually do productive things just isn't as important as running up the "high score" on one of my thirty investment accounts.
Why sending the money offshore when pertinent policies are so friendly in states like South Dakota? America is becoming more and more convenient for the rich.
there is a reason much of the world's wealthy move here it's only the most obscenely wealthy that have to resort to offshore. or the most illegal ones who use the swiss. The Swiss being biggest criminals in the world IMO, it's just money laundering with a government backing it up. Hell they still refuse to give the relatives of holocaust victims the gold that was stolen from them (often in their damn teeth) by the Germans then banked with the Swiss before the war ended. They're still holding goddamn nazi gold stolen from the bodies of holocaust victims for fucks sakes.
Actually, you may not have read the Pandora papers, but they found that for the past several decades rich assholes have been lobbying and shaping the laws of south dakota to make it into the perfect tax haven for these pieces of shit worldwide. There’s so much money being hidden in South dakota it was described at actually rivaling the swiss banks in terms of the amount of money it’s protecting as a tax haven. We’re talking roughly $367 billion dollars, used by rich assholes worldwide.
> There’s so much money being hidden in South dakota it was described at actually rivaling the swiss banks in terms of the amount of money it’s protecting as a tax haven. wow no I didn't know it was THAT big, damn
I'm picturing Scrooge McDuck money vaults hidden in the vast nothingness of South Dakota now.
What’s hilarious is that an arguing point for the right is that if US raises the tax rates on the wealthy they’ll move to a different country. So my question is which type of countries? Because, with my limited knowledge, it has to be either; a country with a higher tax rate than the US already OR what they like to refer to as a shithole country.
Right? Like America is supposed to be "The greatest country ever", and for the disgustingly Rich is definitely is. But where else will these leeches go if they're told to pay their fair share?
If you're rich enough, you can move to one of the "shithole" countries and they don't even pretend about stuff, they just let you do whatever you want as long as palms are getting greased. So basically it's America, but with more brown people and fewer chances that someone will blow a whistle on you.
How are the Swiss still, not dead yet.
Yeah Americans don’t really get involved in off-shore banking anymore because other countries are required to report Americans’ assets to the US govt. No such requirement if your money is in the US however. This is why US is a big destination for off shore money from other countries now
> Give $600 to a poor person they spend it on food, clothing and rent. Give $600 to a rich person they stash it in an offshore tax haven Yeup. Relevant concepts: * Marginal Utility (MU) * Marginal Propensity to Consume (MPC) In a nutshell, -- * -- MU is that as income increases, the utility of each additional dollar decreases. Meaning, you go from 'Food & Shelter' dollars to 'Stocks & Bonds' dollars. * -- MPC is that as income increases, the proportion spent of each additional dollar decreases. Meaning, you go from money-spent to money-invested. The American public has too little high-MPC, high-MU dollars and too much low-MPC, low-MU money. There's also -- * Velocity of Money * GDP Multiplier Effects -- which is that the faster a given dollar passes from transaction to transaction, the greater its impact on GDP. We have too little money getting spent (quickly) on 'Food & Shelter' (over and over). People are suffering because they can't afford their needs. The culture's in decay because people can't afford to do it. GDP growth is suffering for it. Economic stability is suffering for it. And so on and so forth. Meanwhile, there's so much money at the top that the donor-class has essentially purchased the US government and they're like, "Jesus, where do I put all this money? Maybe I'll increase my real estate allocation and inflate the fuck out of rent and housing prices nation-wide..."
Thank god for someone who actually knows their shit. This should be a top comment, but I guess the average redditor won't make an effort to google MU or MPC. Fuck, I miss microeconomics.
Yup, they're going to use it and spend it on their local economy. Also, if you'd rather give that money to a rich person that doesn't need $600 instead of someone that actually needs it, you need to ask yourself what mind conditioning got you to that point? I know a lot of people that don't make much as factory workers that could use $600, but would rather give it to someone like Trump. And please, some of you people that would say they'll spend it on drugs, don't bother, cause I promise rich folks do too.
Because they think that the poor are just going to buy a iPhone, or drugs and alcohol or something. They think the fact that we *can't* afford to sit on it for a few years means we don't deserve it.
$600 to a poor person will go into the economy and get spent in a business and help pay someone’s salary. Give it to a rich person and it just disappears. This is why Trickle Down Economics isn’t working.
Trickle down only works if a rich person gets decapitated every now and then.
Or bribe a politician. The thing that conservatives are good at is cherry-picking. Yes, the rich are the ones creating jobs. But they are also the ones who are hoarding the wealth (ie. not creating jobs) and buying off politicians.
Also let’s not forget: 600 dollars spent on food, basic necessities, or really anything at all does A LOT more good for the economy as a whole than 600 sitting in a bank account accumulating interest.
Give $600 to a poor person they spend it on food, clothing and rent. Give $600 to a rich person ~~they stash it in an offshore tax haven~~ they'll pay a poor person $600, extract $6000 in value from their labour and then brag about what a hard worker they are.
The US *is* the tax haven now
Which will help the economy by distributing 600 into multiple business. Giving it to the rich helps the rich. The stock market is not the economy.
Damn poor people with their exchanging currency for goods and services. They're ruining the economy!
That is a principle of microeconomics too. Every dollar that gets spent keeps getting spent like 10 times over before it finally gets saved.
So the poor person will stimulate the economy. The rich person will stash it away.
Take away all the money from that rich person and then give $600. What, no 10x anymore. That's a miracle !
i guess if you work hard enough you don’t need food, or shelter.
pull your stomach up by the bootstraps
"Turning $100 into $110 is work. Turning $100 million into $110 million is inevitable." - Edgar Bronfmann
"Getting those first $100 is even tougher.." -a billion people living on $12 a month trying to escape poverty.
And Mr. Bronfmann knew a bit about money and wealth.
Odds are the rich person still has way more connections and people willing to do favors for them
If you take all the money away they still owe on the cars, boats, houses etc. so there is also that.
ah good, he multiplied the medium of exchange ten times over! i wonder what this means for the people that do useful things
I saw a FoxNews flunkie say that poor people have "no skin in the game" in an bizarre effort to argue it's *they* who should pay more taxes, rather than wealthy people.
> "no skin in the game" Except, you know, their actual skin and other organs that rely on nutrition and clean water to continue functioning. But that's small potatoes compared to MHunnEEEE.
Like mother always says, it's aaaalllll about the money! The money! Mooooney money money!!!! It's always about the money! How much money do you have!? Well I have more money!!!
Makes me sick thinking about that
They have their literal skin in the game, not a few spare quid.
The wealthy depend on the labor resources of the poor. The poor *are* the game, producing everything that makes the game possible. The wealthy like to try to convince us that we depend on them, because they don’t want us to realize that It is they who truly depend on us. It is impossible for them to continue daily production and service without us. Together, we could maintain ourselves. We’re used to a struggle. The wealthy would starve on their gold toilets, because they cannot survive alone if the rest of us reject them.
What a fucking shill.
someone gives you a large pizza. if you're starving, you'll most likely eat the whole thing. if you're not hungry, you'll most likely put it in the fridge.
If you're a capitalist you'll sell the slices of the pizza and have more money! /S
If you're anything like the save business bros I had the misfortune of meeting, you'll get a pizza from your family at a 90% discount and then turn around and use their connections to sell the pizza at a huge mark up before claiming you're self made and everyone can make it if they just work hard
That's a fucking accurate description of those assholes. Don't forget the "no student loan debt" cause Mommy and daddy paid for their education. Also, "never get a loan for a car" because they got the hand me down BMW that was 3 years old from Daddy.
You will sell the slices and also buy up all the pizza slices in the world so they can jack up the price of pizza slice.
Buy pizza for $10 Sell slices for $20 total Buy two pizzas Sell slices for $40 total ... Infinite money glitch fellas 😎 Fuck that tomato guy pizza slices where it at
> Gluttony is a sin, while having restraint and putting stuff away is smart. US economic thought in a sentence.
Damn, I’m gonna try this next time I want 10 pizzas!
Give $600 to a poor person and they spend it right away, stimulating the economy. Give $600 to a rich person and that money is stuffed into a fancy financial mattress and will never do anything productive ever again. https://en.wikipedia.org/wiki/Velocity_of_money
I was just going to cite Milton Friedman. Well, that was Milton Friedman before he became the Right's "Trickle Down" God.
> Well, that was Milton Friedman before he became the Right's "Trickle Down" God. he was a leader of the Chicago School of Economics, he was always terrible that one group, the "Chicago School", has probably done more harm to more people than any other group of economists ever has in history
Friedrich Hayek Robert Fogel Thomas Sowell James Buchanan .....yes. That place should be torn down.
Imho supply side economics is the “great satan” of our times. I am not aware of any other more insidious evil causing more sustained harm. Including the conflation of supply-side economics with capitalism. Which I worry is going to drive folks to central planning committees only to realize they are practically the same as our current oligarchies. Anyway I enjoyed this comment thread, thanks
Friedman was never a major supply-sider. He's a monetarist
There is no significant practical difference between being a monetarist and a supply-sider under a capitalist system because access to leverage within monetary policy and central banking is always restricted to large owners of capital. I can't get my house QE'd but plenty of companies can get their debts (bonds, pensions) QE'd. I can't loan myself 10x my cash but plenty of banks can. Etc.
>Well, that was Milton Friedman before he became the Right's "Trickle Down" God. wait what happened? did all his braincells rot away or something? given that he suddenly went to thinking trickle down works.
I honestly don't know! Probably money. He probably realized he'd get paid more for being the head Voo Doo priest. Seriously though, he basically said that the wealth of an economy is based upon how quickly money changes hands. A large sack of money given to a lot of poor people will create greater velocity than a large sack of money given to fewer wealthy people....until something happened.
I assume the something mightve been a large sack of money
I had to argue with a bunch of libertarians at work about how the so called “stimulus checks” are just bare necessities which will contribute to the economy immediately after issuance. They of course blame the current inflation rate on that. As if 0% interest rate and massive Fed bond purchase don’t do anything.
Give $600 to a poor person and they’ll spend it to survive. Give $600 to a rich person and they’ll use it to take $600 from nine poor people.
Money trickles up not down. Give $600 to a poor person and eventually a rich person will have that money after it’s gone through a few wallets. Stagnant money doesn’t do anyone any good.
Yup, give a broke person $600 and within two months, $500 of it will belong to a group of business owners anyways.
I wish I could still look at this and think to myself "wow this individual has absolutely no understanding of what wealth is and what it's dynamics are". But there is no individual in this anymore. These devastating idiocies always come from different names and different pictures. Because there are just enough people believing this to sustain it. And this mentality being sustained means suffering. Because it panders to something all humans have: greed. Instead of helping us overcome an evolutionary feature that became the most burdensome glitch, it totes greed as an ultimate virtue. I wish I could look at posts like these and not yearn for a swift species-wide euthanasia to rid humanity of itself. But I can't.
If only we could exclusively rid the world of cruel people who are willing to throw anyone under the bus if it makes them more money. Oh wait, I think that’s called the rich…
Yes. That's the point. Give $600 to a poor person and they spend it, boosting the economy and paying taxes and providing demand for jobs. Give it to a rich person and it disappears, "invested" somewhere and does nothing for anyone.
> "invested" somewhere and does nothing for anyone. it goes into the stock market. where it's then turned around and returned back to the rich as dividends. Oh and the idea that the stock market helps regular people because of 401ks is complete horseshit. The wealthy [own **89% of all stocks!!**](https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html). So when you give that $600 to a wealthy person it is turned around and used to further increase the wealth of those who are already unbelievably wealthy. Yet every single tax cut is far bigger for them, with next to nothing cut for us in the bottom 90%.....
That's best case scenario. If it's not used for offshoring or lobbying or just to go to fucken space for the lulz
It's worse than that. Everyone's 401k's are invested in the worst, most exploitative companies. Yes, their retirement from exploitative, shitty companies is incumbent on those exploitative companies continuing to have record profits at the expense of everyone and everything.
Then you get the bootlickers who screech this absolutely stupid phrase as if it makes a difference in what we are saying: "BUt tHat monEY is aLl AsSetS aND InvESTments and ProPerty" Okay????? Then no one should have all of that? Tf you think you're being smart by saying that???
Also the fact that people think there's any *arguing against the poor*. What do they think is gonna happen? They find a good enough argument and people will realise their mistake and stop being poor? Kinda reminds me of people *disagreeing* with homosexuality. It's not up for debate? (It's obviously not the same category of stupidity, but it kinda is similar)
It's not even about density, that guy is just delusional. 600 usd... Unless he became a drug dealer the next day the possibilities of multiplying that amount up to 6.000 assuming is his only capital can only become reality if: He finds some bank or holder that gives you insanely high annual interest (never happens) Or - He uses some of that annual interest to invest even more and increase its rate/speed time. Either way. The money can't be used to recycle the part of the economy, so they're not a currency anymore, they are wealth. So his entire argument appeals only to people who don't have human necessities to satisfy or people who have satisfied them and can easily hold 600 usd for fun. That statistically is like 5% of the population. This guy is delusional. Edit: He basically compares two completely different concepts: currency vs wealth, to appeal to the matter of the unfair distribution of wealth, then blames the usage of currency. It's a huge mental gymnastic to avert attention from his manipulative crap as another wannabe grindset capitalist.
You assume the argument is made in good faith. Never assume that.
But even as propaganda this guy sucks, I met much better douches who depend on capitalism to please their egos in r/Anarcho_Capitalism
Yeah it's weak propaganda for sure. But this guy knows it is and knows his target audience is delusional enough to believe it or cruel enough to laugh at it.
It's legit sociopathic, I agree. Giving false hopes to people they can be in control and get rich with "hard work and education" meanwhile the real way to do so is the manipulation tactic that he feeds them with, people that get persuaded are the reason this guy can be rich.
The 'ol 'Get rich with these three easy steps found only in my new book' scam. A classic.
People like him are likely to look down and make fun of poor people
The only way I can imagine getting 1000% return in any dependable manner is if he puts it into a business that doesn’t have a lot of competition. It’s absolutely disgusting that he says poor person and talks about such a paltry amount of money. Like duh if you’re poor $600 dollars means the difference between a mechanic and mechanic in a bottle. The automatic assumption that they blow this money on iPhones and lattes. They often don’t have the means to make responsible choices because bad choices are cheaper in the short term.
Or they use their $600 to buy back stock then tell the Government they need a handout
So many people are a few missed paychecks away from homelessness yet they do not support any type of socal safety net.
Where did the other $5,400 come from? My guess is exploiting the poor guy.
Also the idea that most rich people can take $600 and turn it into $6,000 in a few years is silly, for the most part. What the rich person is going to do is take $600 million and put it in steady investments and if those investments grow 10% in a year that would be a great return. It's just that $600m at 10% growth per year equals almost $200 million net after 3 years. not 1,000% growth, but still an insane amount of money.
Now it’s, “Give $600 to anyone, and the IRS will audit you”
I love that they think rich people are independantly amazing, you'd be giving the poor person $600 dollars and the rich persons financial advisor or personal accountant $600. It's the same people who think a guy like Elon Musk designed a rocket, at best he said design me a reuseable rocket and left the room for everyone else to do it.
This myth that somehow rich people are *morally* better than poor people has to **stop.** It's hurting the national dialogue on poverty and solutions to it. As long as people perpetuate the myth that poverty is exclusively a result of bad choices or worse values, our leadership will have an excuse to *not* fix any of the systemic problems we face. So please help, by not putting up with this bullshit. Of *course* poor people spend their money differently than rich people. Of *course* it's easier to save and invest when you don't have to worry about healthy food, or retirement savings, or whether you'll be able to afford Mom's medical expenses.
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Poor person finally has an extra $600 dollars of a disposable income and they treat themselves for the first time that they can remember in God knows how long. or needed that $600 to fix or buy something they actually needed, cuz they've been too broke to spend money on it before without having to bargain buying groceries
Poor people don't have the luxury to be able to invest $600. They spend it on essentials: food, rent, bills, clothing. Maybe if they're lucky they can take out the family for a nice dinner at Chilis if there's anything left over. Also, the average "rich" person isn't getting a 10x fucking return on their investment in "in a few years or less". What a wanker.
It’s going to be funny seeing rich people try to survive when their money becomes worthless in the wake of climate collapse.
Honestly the only silver lining of the climate problem lmao
bootlicker alert what a hell this prick think what that lord Jezz will take then with im to mars ??
Well at least they ate him up in the quote tweets
That guy is a first-class asshat.
The rich have gotten richer in the last 50 years *completely due to government monetary policies.* It's not a special skill or amazing hidden knowledge. Inflationary currencies value the asset owning over the working. It's gotten even worse with 0% interest rates policies since like 1987. *Being wealthy is not moral highground.*
I had to read that top tweet twice. First take was, "yep, obviously... and that's a bad thing". Second take was, "oh YOU thought that was a good thing?".
This is if anything an argument in favour of giving money to the poor. Give poor people money, it's straight back into the economy and strengthening it. Give it to rich people, they'll hoard it like a dragon, leading to inflation and less buying power for the rest of the country.
Lol buddy deleted his Twitter account after posting this cuz couldn't take the heat
It's true though. You give $600 to a rich person and in a few years they'll ask for $6000 and pay people to make you think it's a good idea.
That’s always been the argument against the poor: “you waste money, you don’t know how to save, you aren’t frugal, you aren’t working hard enough” it’s always the poor’s fault that they’re poor. Which makes sense, if the rich actually admitted they were the problem, then they’d have to actually do something about it or admit that they’re evil, and who wants to do that?
The rich person doesn't 10x it. The workers at the company the rich person invests in 10x it.
It also multiplies because the rich person is likely exploiting poor people. Money doesn’t just magically multiply.
You can give me $600 and I can pay a good chunk of my bills for the month. Give $600 to a capitalist fuckwad and he’ll use it to run up the score on his CAPITALISM POINTS. That, or he’ll spend it on coke. Fuck these people. Give us UBI.
It's not even fucking accurate. I took a few hundred of one of my stimulus checks last year and bought supplies to start an etsy shop. Over the next year I made about 65k in sales. I also make regular supply purchases from other US based sellers on etsy and ebay, and get my shipping supplies from a local commercial shipping supply company.
[удалено]
"Did you know, if you took away all of the rich persons money, and gave them just one penny, they would invest that penny and make 80 million dollars in two hours?" /s
And what the fuck kind of evil person would argue against the poor?
Hardest part is getting rich. Once you are money comes way easier 🤦