1. We have added a Gift Upgrades feature that allows you to gift an account upgrade to another member, just in time for the holiday season. You can see the gift option when going to the Account Upgrades screen, or on any user profile screen.
    Dismiss Notice

Owning capital is a skill

Discussion in 'Off-Topic' started by Hygro, Feb 6, 2017.

  1. timtofly

    timtofly One Day

    Joined:
    Sep 28, 2009
    Messages:
    9,439
    No, but they may be the masters soon.
     
  2. Old Hippy

    Old Hippy Deity

    Joined:
    Oct 14, 2011
    Messages:
    3,605
    that's because they want a dishwasher and clothes dryer what do you expect its the 1900's
     
    Whomp likes this.
  3. Traitorfish

    Traitorfish The Tighnahulish Kid

    Joined:
    Sep 14, 2005
    Messages:
    32,543
    Location:
    Scotland
    There's almost certainly a subreddit proving otherwise.
     
  4. El_Machinae

    El_Machinae Colour vision since 2018 Retired Moderator

    Joined:
    Nov 24, 2005
    Messages:
    44,507
    Location:
    Pale Blue Dot youtube=wupToqz1e2g
    We can play it backwards, with a forward-paying debt program. An unschool immigrant comes here and works. He pays taxes. And his kids get to go to school. He's down money, and his kids benefit. When his kids grow up, they pay taxes, so other kids get to go to school. But they already benefited from the program - their schooling was already paid for. Once it gets going, it's sustainable in perpetuity (assuming spherical, frictionless kids, of course). Only the original payer didn't benefit from the program.

    SS is the opposite, but you have to also remember that government spending is of benefit to the economy. And not because of demand-side stimulus. But because governments spend on the supply-side too. So, the Boomers were taxed. A small portion of that money went to the Silent Generation (who also benefited, no doubt). And the rest of that money that they were taxed went to the Boomers in the form of spending on them. And, as the Trust Fund diminishes, a greater and greater portion of the SS tax that your kids pay doesn't go onto spending on themselves. It goes into the spending desires of Boomers.
     
  5. Whomp

    Whomp Keep Calm and Carry On Retired Moderator

    Joined:
    Dec 17, 2004
    Messages:
    18,200
    Location:
    Chicago
    You're mistaken. It is a savings plan not a spending plan hence the varied IRR's. The trust fund was a pay-go system prior to 1983 and has been in surplus until 2010. It will become pay-go again when the investments are exhausted unless changes are made and adjust actuarially.
     
    Last edited: Feb 11, 2017
  6. El_Machinae

    El_Machinae Colour vision since 2018 Retired Moderator

    Joined:
    Nov 24, 2005
    Messages:
    44,507
    Location:
    Pale Blue Dot youtube=wupToqz1e2g
    .... what do you think happened to every single dollar taken out of a paycheck in the 80s?
     
  7. Whomp

    Whomp Keep Calm and Carry On Retired Moderator

    Joined:
    Dec 17, 2004
    Messages:
    18,200
    Location:
    Chicago
    Not much different than any other pension program. Some was distributed and the rest was invested.
     
  8. Birdjaguar

    Birdjaguar Hanafubuki Retired Moderator Supporter

    Joined:
    Dec 24, 2001
    Messages:
    39,335
    Location:
    Albuquerque, NM
    I don't think dollar for dollar accountability is the best approach. On my left, the government takes my taxes/SS dollars and for all practical purposes, it is gone. On my right hand the government dispenses dollars in lots of ways, some of which come back to me. As long as it keeps dispensing dollars, whose they were is of no consequence. The consequences come when the government makes significant changes in the dispensing allocation such that people feel they are not getting what they expected.
     
    Hygro likes this.
  9. Disgustipated

    Disgustipated Deity

    Joined:
    Nov 14, 2006
    Messages:
    11,230
    Location:
    Las Vegas
    I think it's discipline. It's how I've been able to save the amount I have, and also how I can maintain my weight despite my love of cookies. Most people lack this one skill. On a side note, I think most poor people are poor not because they are stupid, but because they lack discipline. Willpower is a trait most people do not have. One I do have. See: The Mischel experiments.
     
    Last edited: Feb 13, 2017
  10. cardgame

    cardgame Obsessively Opposed to the Typical

    Joined:
    Apr 1, 2009
    Messages:
    14,595
    Location:
    Misery
    That's a good analogy, actually. I can maintain my weight despite eating nothing but cookies. Most people lack this metabolism, through no fault of their own. But I was born with it and therefore can do what I want.
     
  11. Narz

    Narz keeping it real

    Joined:
    Jun 1, 2002
    Messages:
    27,855
    Location:
    St. Petersburg, Florida
    Well an unhealthy diet will catch up with you eventually even if you don't get fat.
     

Share This Page