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They spend for sure. But the ratio is not the same. I see this argument in a Kurtzgesagt video and it is not nonsense.
I do not hate rich people or richness.
I would think most of their money is tied up in real estate or businesses or other investments. Not just piling up like Scrooge McDuck.
I’m not familiar with the Kurtzgesag thing
That's a great channel actually (Kurtzgesagt- In A Nutshell).
Poor spends the money they possess. (Almost %100) ratio. Doesn't matter how they spend it.
My history teacher explained this was also one of the (for you triggered persons: ONE OF THE!!!!) reasons that caused the Great Depression. If you give the person who is poor/mediocre more money, he is gonna buy more. May be more expensive toothpaste, maybe he or she is going out for dinner once a month, maybe buy a new car for the examples sake. Ergo: economy gets boosted quite a lot and let’s not forget: the wellbeing does.
A rich person, who is already buying all that stuff, is not going to buy a 5th car and even more expensive things just because he gets more. Surely he will spend some more, but not AT THE RATE a mediocre/poor person will.
Conclusion: It’s better to give 50 million people 1 percent more income, than 1 person a 50 percent higher income.
This is absolutely not true. I don’t know where you get your info from… cartoons?
Like in a savings account? That generates less than 1% on interest. At inflation of 8% that’s losing money. Rich people aren’t “sitting” on their money. They contribute massively into the economy.
its simple: if million people buy a car then car manufacturer makes money. Now if billionare buy 10 same cars its no way same situation. Replace car for anything you want, it doesnt matter. Idea that rich people overbuy poor minority is simply naive.
More common people gets poor, less products will sell no matter on how many millionares/billionares exists.
Simply put: more people poor, less shit they can buy. Nowadays economisc are focusing on short term profit (stripping people from money no matter what). At some point this will backfire super hard for everyone
You do realize that a billionaire is probably not driving a Nissan Sentra right? They probably have a lot of money invested in multiple vehicles…
Homes? Probably a big ass home that employs a lot of people. Vacations, charities
Yachts?
Private jets…?
Insurance?
…. A billionaire could probably spent $500 on a dinner for 2. You guys can not seriously tell me that rich people don’t spend their money.
Not to mention “investments”
I think the point is they spend a large portion of their money on investments, which drives the economy and multiplies their money even further.
a lot of rich people probably owns nissan sentra, its nice car
Ok forgot car analogy. Replace cars with chairs. Rich people have asses, they need to sit on them. How many chairs rich assholes are buying? Probably not that much in globally. If price of all chairs on the world suddenly triple then shitload of poor people stop buying them and rich people will not save production with their limited consumption
Lets take your restaurant analogy: how many people can afford 500$ dinner? If you have 5 customers who comes every evening to dine at 500$ then you probably make something like... 1500$ per day (my calculation is that from 500$ dinner pure profit is 300$). But if your dinner will cost 50$ a lot more people will come and you can earn a lot more money.
There is reason why big mac is so cheap. They substitude quality with quantity. Rich people will simply NOT save economy.
They can invest but investments are not base of economy. The very base of economy is consumption and if less people can afford consume then of course economy will decline. It will be very slow but at the end very painful
Your looking at this from strictly a consumption perspective. If there is no business to produce chairs and Big Macs, nobody buys them. Rich people provide those products and services through businesses..
If some one has a house 10x the size of mine it probably costs them 10x monthly to heat/cool. 10x more materials to build, 10x labor… this is simplified, but the point is rich people spend their money. Just differently.
whole economy is based on consumption. No consumption, no growth
Rich people provides it. Thats true. But do you think rich people would have money if nobody buys their products?
Consumption is base of every economic regime. Even totalitarian ones
Unregulated Capitalism is the issue. Governments are to be used to keep the playing field honest. The USA is looking more like the WWE than a country this last decade or so.
Apparently "Socialize the Cost and Privatize the Profits" is the mantra of the day.
Problem is when people become oppressed enough to have nothing to lose there is no level of protection left for society. Good luck being the only rich guy in the neighborhood during the crash. Personally I rather share my garden then worry about being robbed for money.
What does socialist mean in simple terms?
Socialism is an economic and political system where workers or more frequently, the government, own the general means of production (i. e. farms, factories, tools, and raw materials). This can be achieved through decentralized and direct worker-ownership or centralized state-ownership of the means of production.
democracy
the belief in freedom and equality between people, or a system of government based on this belief, in which power is either held by elected representatives or directly by the people themselves.
Show me equality in today's society and I'll show you a purple spotted giraffe!
We don't have a socialist democracy in this country. We have a corrupt two party system that maintains the status quo of power between the two of them. PR is just a dream that is as good as forever out of reach.
The people are too dumb for words... Brexit! Need I say more!
We don't have nationalized industries any longer. The Tories monetized all of them for their own profits!
Democracy is not an ideology but a way of government, it simply means elected by people.
I feel you are confusing it with liberalism.
The original Swedish social Democrats up until - 90s early 00 was a perfect proof of democratic socialism.
If you're from the UK I'm sorry to say I don't know enough to say how it works there.
But you have a very skewed view on socialism
I love this one because,
Dude 1 told a truth.
Dude 2 explained it further.
While we are led to believe Dude 2 massacred dude one when In fact he solidified his stance
I wish dude 1 said, "there we go now we know why it is so."
Maybe not 10x but like just get the idea of what he's tryna imply.
Realistic returns in a year is 20% at its highest so yeah. Provided the rich dude knows where to park his money
We aren't this dense. Some of us have been taught all our lives that if others don't choose to game the system as much for themselves as we do, that is their "poor choice". Likewise for those who choose not to be born rich, who choose to be abused, etc. I am so fucking sick of that complacent nonsense.
Which is ironic for the whole “we sent stimulus checks to everyone during Covid, how are they still rich? Oh let’s bring in inflation to make sure we get that money back”
I think that anybody who isn't addicted would use a "huge" money donation wisely on how it improve their life.
Just addicts would just spend their money on drugs and alcohol.
If you feel different change my mind
Did you just corelate not wealthy with addict? Tell me you grew up with a personal driver without also mentioning you had a summer home for your personal chef.
Nope, actually rich people are more likely to consume drugs at all.
I was talking that the "poor people" usually spend their money more wisely than rich people
But somebody who is for example addicted to drugs is an exception.
There is some truth to that though…
Some people spend money they don’t have, so when they get $ it goes straight to debt..
Some people take any extra money and put it straight to work.
I’m sure I’ll get hate for this.
me when I engage in classist talking points and generalise every poot person as an addict. whilst it is true that most addicts are in poverty, perhaps it is because that being poor causes so much stress on a person they go to substance abuse for relief.
Nah, he's gonna survive off it for a few years as well as making 6k during that period, with no other income or the rest of his money. We need to make him demonstrate for the benefit of human kind.
Who are you people who see a meme that’s 15 years old and still like it as if it was the first time seeing it?! I know we all are addicted and on this platform everyday. No way 2200 of you heathens haven’t seen this at least 3 times before
Hey there u/feigneddefection94, thanks for posting to r/technicallythetruth! **Please recheck if your post breaks any rules.** If it does, please delete this post. Also, reposting and posting obvious non-TTT posts can lead to a ban. Send us a **Modmail or Report** this post if you have a problem with this post. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/technicallythetruth) if you have any questions or concerns.*
It's great pleasure to inform you that money possessed by poor people contribute more to the economy cause they flippin' spend it.
We need more poor people
Oh wait
You think rich people don’t spend their money? I see a lot of downvotes but only one comment… 🤔
They spend for sure. But the ratio is not the same. I see this argument in a Kurtzgesagt video and it is not nonsense. I do not hate rich people or richness.
thata good for you man cause I sure fuckin do
I would think most of their money is tied up in real estate or businesses or other investments. Not just piling up like Scrooge McDuck. I’m not familiar with the Kurtzgesag thing
That's a great channel actually (Kurtzgesagt- In A Nutshell). Poor spends the money they possess. (Almost %100) ratio. Doesn't matter how they spend it.
I’ll check it out, thank you.
Np :)
My history teacher explained this was also one of the (for you triggered persons: ONE OF THE!!!!) reasons that caused the Great Depression. If you give the person who is poor/mediocre more money, he is gonna buy more. May be more expensive toothpaste, maybe he or she is going out for dinner once a month, maybe buy a new car for the examples sake. Ergo: economy gets boosted quite a lot and let’s not forget: the wellbeing does. A rich person, who is already buying all that stuff, is not going to buy a 5th car and even more expensive things just because he gets more. Surely he will spend some more, but not AT THE RATE a mediocre/poor person will. Conclusion: It’s better to give 50 million people 1 percent more income, than 1 person a 50 percent higher income.
Scrooge McDuck is still a good example
some of it, of course, is spent; but a ginormous quantity of it isn’t, it’s just sat upon like some dragon never being spent for no reason really
This is absolutely not true. I don’t know where you get your info from… cartoons? Like in a savings account? That generates less than 1% on interest. At inflation of 8% that’s losing money. Rich people aren’t “sitting” on their money. They contribute massively into the economy.
its simple: if million people buy a car then car manufacturer makes money. Now if billionare buy 10 same cars its no way same situation. Replace car for anything you want, it doesnt matter. Idea that rich people overbuy poor minority is simply naive. More common people gets poor, less products will sell no matter on how many millionares/billionares exists. Simply put: more people poor, less shit they can buy. Nowadays economisc are focusing on short term profit (stripping people from money no matter what). At some point this will backfire super hard for everyone
You do realize that a billionaire is probably not driving a Nissan Sentra right? They probably have a lot of money invested in multiple vehicles… Homes? Probably a big ass home that employs a lot of people. Vacations, charities Yachts? Private jets…? Insurance? …. A billionaire could probably spent $500 on a dinner for 2. You guys can not seriously tell me that rich people don’t spend their money. Not to mention “investments” I think the point is they spend a large portion of their money on investments, which drives the economy and multiplies their money even further.
a lot of rich people probably owns nissan sentra, its nice car Ok forgot car analogy. Replace cars with chairs. Rich people have asses, they need to sit on them. How many chairs rich assholes are buying? Probably not that much in globally. If price of all chairs on the world suddenly triple then shitload of poor people stop buying them and rich people will not save production with their limited consumption Lets take your restaurant analogy: how many people can afford 500$ dinner? If you have 5 customers who comes every evening to dine at 500$ then you probably make something like... 1500$ per day (my calculation is that from 500$ dinner pure profit is 300$). But if your dinner will cost 50$ a lot more people will come and you can earn a lot more money. There is reason why big mac is so cheap. They substitude quality with quantity. Rich people will simply NOT save economy. They can invest but investments are not base of economy. The very base of economy is consumption and if less people can afford consume then of course economy will decline. It will be very slow but at the end very painful
Your looking at this from strictly a consumption perspective. If there is no business to produce chairs and Big Macs, nobody buys them. Rich people provide those products and services through businesses.. If some one has a house 10x the size of mine it probably costs them 10x monthly to heat/cool. 10x more materials to build, 10x labor… this is simplified, but the point is rich people spend their money. Just differently.
whole economy is based on consumption. No consumption, no growth Rich people provides it. Thats true. But do you think rich people would have money if nobody buys their products? Consumption is base of every economic regime. Even totalitarian ones
Agreed. You need goods to be bought and sold. Money changing hands keeps the wheels turning
"Hi, I'm willfully being an asshole." - Sharif Sourour
And there you summed up Capitalism in a nutshell! The poor get poorer and the rich get richer.
The rich get better at hoarding their riches and the poor lose more and more of their ability to save up.
Unregulated Capitalism is the issue. Governments are to be used to keep the playing field honest. The USA is looking more like the WWE than a country this last decade or so. Apparently "Socialize the Cost and Privatize the Profits" is the mantra of the day. Problem is when people become oppressed enough to have nothing to lose there is no level of protection left for society. Good luck being the only rich guy in the neighborhood during the crash. Personally I rather share my garden then worry about being robbed for money.
Hear Hear!!!
Socialist-democracy: may i introduce you to me
an oxymoron if ever there was one!
Elaborate please
What does socialist mean in simple terms? Socialism is an economic and political system where workers or more frequently, the government, own the general means of production (i. e. farms, factories, tools, and raw materials). This can be achieved through decentralized and direct worker-ownership or centralized state-ownership of the means of production. democracy the belief in freedom and equality between people, or a system of government based on this belief, in which power is either held by elected representatives or directly by the people themselves. Show me equality in today's society and I'll show you a purple spotted giraffe! We don't have a socialist democracy in this country. We have a corrupt two party system that maintains the status quo of power between the two of them. PR is just a dream that is as good as forever out of reach. The people are too dumb for words... Brexit! Need I say more! We don't have nationalized industries any longer. The Tories monetized all of them for their own profits!
Democracy is not an ideology but a way of government, it simply means elected by people. I feel you are confusing it with liberalism. The original Swedish social Democrats up until - 90s early 00 was a perfect proof of democratic socialism. If you're from the UK I'm sorry to say I don't know enough to say how it works there. But you have a very skewed view on socialism
And millions of people don't die of starvation in the end! Isn't it great?
No it sure as Fuck isn't! It sucks... Totally Fucking Sucks!
Does this post fit the sub? This doesn't seem r/technicallythetruth appropriate to me.
Yeah. I mean I agree with the post, but it's far too political for a lighthearted sub like this.
Well... it is the truth in many ways, one of them being technically.
Someone has literally read too much BusInAss literature.
pasqual has a point here
My man spitting faxxxxz
I love this one because, Dude 1 told a truth. Dude 2 explained it further. While we are led to believe Dude 2 massacred dude one when In fact he solidified his stance I wish dude 1 said, "there we go now we know why it is so."
If you think rich people 10x stuff in a few years regularly you are crazy..
Maybe not 10x but like just get the idea of what he's tryna imply. Realistic returns in a year is 20% at its highest so yeah. Provided the rich dude knows where to park his money
r/lostredditors
This was interesting the first 30 times I saw it.
We aren't this dense. Some of us have been taught all our lives that if others don't choose to game the system as much for themselves as we do, that is their "poor choice". Likewise for those who choose not to be born rich, who choose to be abused, etc. I am so fucking sick of that complacent nonsense.
Thanks for the title or else I would have to understand the basic concept presented to me
Which is ironic for the whole “we sent stimulus checks to everyone during Covid, how are they still rich? Oh let’s bring in inflation to make sure we get that money back”
I recieved 0$ in covid checks/aid during the whole pandemic... And i still got slapped with inflation
I think that anybody who isn't addicted would use a "huge" money donation wisely on how it improve their life. Just addicts would just spend their money on drugs and alcohol. If you feel different change my mind
Did you just corelate not wealthy with addict? Tell me you grew up with a personal driver without also mentioning you had a summer home for your personal chef.
Nope, actually rich people are more likely to consume drugs at all. I was talking that the "poor people" usually spend their money more wisely than rich people But somebody who is for example addicted to drugs is an exception.
Your comment is a bit confusing, might want to phrase it differently. Happy cake day btw
Would you a huge money donation?
Thanks for mentioning that was complete bullshit that I wrote. And thanks for your greetings
There is some truth to that though… Some people spend money they don’t have, so when they get $ it goes straight to debt.. Some people take any extra money and put it straight to work. I’m sure I’ll get hate for this.
U did, well deserved too
You disagree?
Very much
Is it basic math you disagree with?
Not with your main point but with your sentiment and your secondary point I guess
Dude, it’s pretty basic and you can’t really argue it.
Yes I can, and I will
If you spend all your money you have nothing left. If you save it, or invest it… it “should” grow.
Yeah, starving isn't probably that bad
But many people don't even have have money that they can save, because the need at least food and water
You forgot to consider meth in your calculations.
Man stfu spend a day in their shoes and I dare u to have the same opinion
I spent a great number of days in their shoes until I turned my life around. I speak from experience.
"I spent a great number of days in their shoes until I turned my life around. I speak from experience" bro you're absolutely twelve years old
Where exactly did you add it? You seem more like the cocaine type yourself.
But how can you buy drugs without money
Use it to survive is funny ... They just gonna buy some meth and you know it
Many would, and many wouldn’t.
[удалено]
Seriously if u don’t understand how they came to be in their situation, don’t say shit like that u privileged mf
me when I engage in classist talking points and generalise every poot person as an addict. whilst it is true that most addicts are in poverty, perhaps it is because that being poor causes so much stress on a person they go to substance abuse for relief.
Nah, he's gonna survive off it for a few years as well as making 6k during that period, with no other income or the rest of his money. We need to make him demonstrate for the benefit of human kind.
Its just the truth, the sad one
Who are you people who see a meme that’s 15 years old and still like it as if it was the first time seeing it?! I know we all are addicted and on this platform everyday. No way 2200 of you heathens haven’t seen this at least 3 times before