$350,000/Year Not Enough

[luiz]

Indeed not; that's what I'm saying.

I'm not sure what luiz is complaining about, but as far as I can tell it's one of two things:

1) Criticizing our betters, which is a fun tack to mock and what I opted for, or

2) Class warfare, which is a silly thing to complain about since it certainly isn't the poor who are the antagonists.

What Traitorfish said. I don't see why it's fair game to draw general conclusions on how rich people think or behave based on anecdotal evidence of obviously unpleasant individuals.

It would be like posting a thread about a guy who lost his job and became poor and dependent on welfare because of his drinking habits, and then saying "the problem with poor people is that they're hopelessly drunk all the time". It is quite clear that there are poor people who are poor because they are hopelessly drunk, just as I am sure there are bankers who are rude to waiters or feel poor with a 350K income. What does that prove, other than some people are drunks and some people are jerks?

Now, if you feel some sort of satisfaction in attacking a whole group of people, who you call your "betters", based on anecdotes, go for it. But it puts you in a rather negative light.

 

[Traitorfish]

You see, , if the guy is indeed finding it hard to make ends meet with this 350k/yr income, that is to say he spent it all, then it must be trickling down. If he saves that money, then it won't be trickling down.

You think that wealthy people put all their money in a big Scrooge McDuck pool, rather than, say, a bank, or into stocks?

 

[Defiant47]

You think that wealthy people put all their money in a big Scrooge McDuck pool, rather than, say, a bank, or into stocks?

...which are then used to fund various projects as part of financing. These projects create jobs and stimulate the economy.

 

[Traitorfish]

...which are then used to fund various projects as part of financing. These projects create jobs and stimulate the economy.

That was my point, yes.

 

[Dida]

...which are then used to fund various projects as part of financing. These projects create jobs and stimulate the economy.

Buying stock in the secondary market doesn't create any "financing". Retail deposit makes up negligible portion of the total monetary supply.
Spending money, however, is a direct injection of 100% of that money into consuming spending, the largest part of the GDP. The best way for wealth to trickle down is for the wealthy to simply spend it all.

 

[emzie]

Another thread about those obnoxious rich people, just what CFC needs.

Lets make threads every time someone poor says something obnoxious/offensive, and draw general conclusions about all poor people.

The problem isn't that he's rich (good for him) or that he wants to earn more (good for him) but that he has a sense of entitlement that impacts society as a whole. It's a pretty short step from "I earn 350k / year which is not enough" to "My success is being victimized and I deserve to pay less in taxes"

If you make it to the top 1% you are not a victim of the system.

 

[Traitorfish]

Buying stock in the secondary market doesn't create any "financing". Retail deposit makes up negligible portion of the total monetary supply.
Spending money, however, is a direct injection of 100% of that money into consuming spending, the largest part of the GDP. The best way for wealth to trickle down is for the wealthy to simply spend it all.

Well, second best. The best way is for the poor to just go right ahead and take it.

 

[Nobody]

Kim dotcom is asking for $300000 per month while he is in prison

 

[rugbyLEAGUEfan]

The reason these guys are in "jam" is not due to the drop in income , its their unwillingness to save . To make that kind of money and not earn yourself any financial freedom is crazy . Here they are making just under 10 times the average wage yet if they lost their jobs tomorrow would be under real pressure .

I make what I consider OK money for a non graduate and I easily save over 70% of what I earn . Sure I dip into those savings when I want to travel or buy new furniture , TV etc , but my purchases are modest . So the true reward I find for working hard is freedom , I could quit tomorrow and travel the world for a year . These guys are jokers spending everything , end result is that they are slaves on $350,000.

 

[Defiant47]

Buying stock in the secondary market doesn't create any "financing". Retail deposit makes up negligible portion of the total monetary supply.
Spending money, however, is a direct injection of 100% of that money into consuming spending, the largest part of the GDP. The best way for wealth to trickle down is for the wealthy to simply spend it all.

It does have a secondary effect, which is why it's a "secondary market". Trading in secondary markets allows the company to gauge the value of their stock, and if this trading is expensive enough, then raise money to finance various projects.

 

[Commodore]

What Traitorfish said. I don't see why it's fair game to draw general conclusions on how rich people think or behave based on anecdotal evidence of obviously unpleasant individuals.

It would be like posting a thread about a guy who lost his job and became poor and dependent on welfare because of his drinking habits, and then saying "the problem with poor people is that they're hopelessly drunk all the time". It is quite clear that there are poor people who are poor because they are hopelessly drunk, just as I am sure there are bankers who are rude to waiters or feel poor with a 350K income. What does that prove, other than some people are drunks and some people are jerks?

Now, if you feel some sort of satisfaction in attacking a whole group of people, who you call your "betters", based on anecdotes, go for it. But it puts you in a rather negative light.

I can't control what people choose to say in this thread, but I didn't start this thread to criticize the rich as a whole, and none of my comments thus far indicate such intentions. I started this thread to criticize this failure as a human being. The other point was that it's people like this banker that promote the idea of class warfare because his comments will draw the ire of the less fortunate towards his entire socioeconomic class.

So I respectfully request you discuss the topic at hand and stop trying to derail the thread by trying to claim the topic is something that it is not.

 

[Traitorfish]

The other point was that it's people like this banker that promote the idea of class warfare because his comments will draw the ire of the less fortunate towards his entire socioeconomic class.

Do we have any particular reason to believe that this sort of thing contributes more than very marginally to the development of social conflict? I'm not lead to believe that has been the case historically, although I suppose the past is a very so-so guide to the future.

 

[Commodore]

Do we have any particular reason to believe that this sort of thing contributes more than very marginally to the development of social conflict? I'm not lead to believe that has been the case historically, although I suppose the past is a very so-so guide to the future.

Of course there's reason to believe these sorts of things have an impact. Just look at the damage that "1% tip" receipt caused; and that was fake. Of course that is just a recent example, but there have been plenty of rich people who have inflamed the "common folk" because they said something ignorant in public.

 

[kochman]

oopss
please delete!!!

 

[rugbyLEAGUEfan]

oopss
please delete!!!

You can't just do that ! I'll be wondering about the stone age Europeans in Dalmarva all day now unless you explain

 

[kochman]

You can't just do that ! I'll be wondering about the stone age Europeans in Dalmarva all day now unless you explain

I created a thread for it

 

[Crezth]

That might well be part of his motivation, but he certainly hasn't suggested that in his posts in either this or the other thread. All he's said is that taking anecdotal incidents as indicative of general behavioural trends is, at best, incredibly sloppy, and he's not wrong in that.

Well... yeah.

Of course they are, and so are the rich. It's a mutually antagonistic relationship.

Yeah, I suppose I dropped the ball on that one. It's really a lot more nuanced than I tried to imply.

"Class warfare" (a term that has lately become most bizarrely popular among American liberals who don't really seem to know what it means) is implicit in capitalism, it's not just the inidividual banditry of a few bourgeois who have forgotten their noblesse obligé- a "feudal" conception of class relations if there ever was one!

I've noticed conservatives use the term a lot more in American politics, usually to disparage their opponent(s).

 

[Traitorfish]

Of course there's reason to believe these sorts of things have an impact. Just look at the damage that "1% tip" receipt caused; and that was fake. Of course that is just a recent example, but there have been plenty of rich people who have inflamed the "common folk" because they said something ignorant in public.

...What damage? I haven't seen any crowds taking to the streets about it, no factories occupied in fury, no bankers dragged out into the street and guillotined. What I've seen is a lot of people go "tsk, bloody typically", and get on with their lives.

 

[warpus]

I don't think there is much anger directed at the rich.

It's directed at people who say stupid crap like this guy did.

 

[Cutlass]

Let me also say this. Things are relative. People live in different worlds. Expectations count. This guy had certain expectations and he feels he entered into a contract of sorts and did his part.

We can't be expected to feel his pain but its real to him.

Some day its pretty likely that a lot of Americans will lose a portion of the SS benefits that they have been led to believe they were going to receive. They aren't going to be happy. But even for them, if you drill down the economic ladder you will find people who will not be able to relate to that because they have to get by on even less.

In a sense, we are all in this together. Everyone is a loser due to corrupt, uncontrolled government spending and incredibly reckless monetary policy.

One day a lot of us here will be mocked by others less fortunate for the grief we feel for the lives we expected, but never obtained.

All in all I would rather see the bankers lighting cigars with hundred dollar bills. After all, they only play the games by the rules made by corrupt politicans and are victims just as we all are.

If bankers have no agency how do you justify allowing them any discretion?