The richest 10% own 70% of the country’s wealth

[winb83]

money seemingly "pools" or gets "hoarded" at the top. Its simple math and logic!

There's nothing seemingly about it. Our society exist for the many to serve the few. The rich elite set the rules and control everything. They shift the tax burden onto the poor and use every loophole or trick they can think of to horde their wealth. They unfairly compensate workers but cut checks to shareholders for literally doing nothing.

These people claim they can't afford to pay some bottom rung worker who as a collective they're literally the heart of the company for their time but they can afford to give away excessive money to the people at the top and shareholders. Some millionaire or billionaire exec gets a check they'll never even need annually getting paid several hundred times what their workers get paid and when they screw up they get a golden parachute.

You got companies like Amazon that basically don't even pay federal taxes meanwhile some $30K a year worker has to give up 16% or more of what they make or more a year in various taxes.

Walmart's CEO earns 1,188 times as much as the company's median worker

Doug McMillon earned $22.8 million during the retailer's last fiscal year, which ended on January 31, according to a company filing.

Walmart's median employee, meanwhile, earned $19,177 in the same period.

Doug McMillon Net Worth | Celebrity Net Worth
That guy has an estimated net worth of $100 million dollars. Hell he could take an annual salary of say $500K and say give the rest of my money to the workers and it wouldn't make a difference to him because he'd have to try to burn through $100 million dollars in his life time. fukk it give him the $0.8 million and dump the$ 22 million back to the workers. When you've got a net worth of $100 million an extra $22 million does what?

 

[Professor Emeritus]

It can only happen with socialism.
Its socialism that creates monopolies
Its socialism that created the .01%

Then why is it that ubercapitalists like Jordan Peterson tell us that such disparities are totally natural and must occur under any system? The Pareto Principle (which I think is bullshyt, but all the capitalists love it) was literally built off of income and wealth disparities.

Can you give us the example of the free market capitalist system that didn't result in enormous wealth disparity?

 

[Professor Emeritus]

So when people spend $15 a week on fast food at McDonalds...is McDonalds stealing from the bottom?

Is it theft when the elite work as hard as possible to ensure that the underclass are poorly educated, overworked, and absolutely drowned in manipulative advertizing to get them to buy foods that are literally addictive as an alternative to doing extra food prep on an already stressful day?

Is it theft when there are long lines in gas stations for scratch offs?

Is it theft when income mobility has become so stagnant that many of the poor feel that random chance is literally their only chance of ever getting out of their situation?


Capitalism is primarily about capital. People with more capital tend to suck money out of people without. It doesn't happen 100% of the time, but 90% might be accurate. Loaners suck borrowers dry, property owners suck renters dry, employers and stockholders suck employees dry. Sure, one special snowflake in the bunch escapes from the system, but the vast majority don't, in fact they CAN'T or the system wouldn't work anymore. You'd have to have a different system.

Because of capitalism's reliance on capital, it is literally built to ensure that the wealthy get wealthier. Only collapse, revolution, or an explicit renunciation at the ballot box ever changes that.

 

[Professor Emeritus]

You say working for money is inefficient but who determines that to be so? 48% of workers in the United States make under $32,000 a year. Most people spend their whole lives barely above water. Only about 40% or Americans could come up with $1000 in the event of an emergency without going into debt. If we remove the 10% of Americans that hold 90% of the wealth then that's like 30% of the rest of Americans.

You're talking about socialism and I'm talking about the cost of living and what people are being paid being reasonable enough that people don't have to spend their entire adult lives working to pay a mortgage, keep a roof over their head, and raise a few kids.

Our society is built off the backs of economic debt slaves who mostly live to work while the rich elite reap the fruits of their labor and don't fairly compensate them for it all the while raising the cost of living to keep people right where they are.

When 10% of the population has 90% of the wealth that's hording. There's no other way around that. It would be like if I told you that a race that's 13% of the population accounted for over 40% of the population in prison and you try to downplay that like it's some sort of natural occurrence. Just like that 13% of the population is targeted that 10% of the population is hording. Both are by design and not natural.

God, he sounds like a Rich Man Poor Man cultist.

This is the only way the middle-class/poor are roped into supporting such an awful system. "Sure, the top 10% own nearly everything, but with enough smart decisions you too can be one of those top 10%! It will require numerous underlings to actually do the work and suffer for your benefit, but we're not talking social outcomes here, we're talking wealth! Wealth! Wealth!

He out there talking about profiting off economic rents and getting other people to do the work for your income as if that doesn't create just as many losers....but hey, at least I'm not one of them and that all that matters, right?

 

[Mook]

I think MMS is implying that if you figure out economics for real, the bad actor always wins. I believe he said history repeats itself.

So basically get your own money, so you can see how the system works, and how the bad actor wins, and how it's a futile fight

 

[Based Lord Zedd]

get off politics for a SOLID month and come to 6 Figs 6 certs

There are people here who are financially educated. It starts with you!

I have three businesses that I started last year. Amazon, Referral Marketing and now a Consulting firm.

I went from having 300 connections of jobbers who could give two shyts where I went in life and am now connected with 3000 CEOs and state senators and congressmen. CHANGE YOUR MINDSET!

I have an online business and have cleared 5 figures in revenue year to date on top of my regular salary.
I'm also looking at eventually using my earnings from this business, to start more.
The system is still bullshyt though. The gap between the rich and poor in this country is ridiculous and IMO dangerous.

 

[afterlife2009]

capitalism

 

[kdthelegend]

I'm just trying to join them.

 

[Insensitive]

what if i told you that all businesses "panhandle"

the difference between wealth and poverty aren't in the pocket..they are in the mind

The fact of the matter is there are genuine barriers to "economic freedom" breh.

I've said as much in the past but telling everyone to just "Start a business lol" is absolutely terrible advice !
And no amount of entrepreneurial magical thinking, instagram influencer feel good, "break out the matrix" nonsense
will change that.


Also you can't simultaneously claim you exist outside of a system while actively participating in it.

Once you understand it's an exchange it should be damned clear that you must create a product or a service that you can exchange for it

people in jobs lose because they exchange time...while the boss/owner exchanges OTHER PEOPLES TIME, MONEY, SYSTEMS ETC to gain money. Then give the jobber a share

This is why people with jobs will never be rich and money seemingly "pools" or gets "hoarded" at the top. Its simple math and logic!

This isn't true and in any genuine discussion about the economic perils the average american faces
there's nothing "simple".

With that said there are wealthy people with jobs, I work at a large aerospace company and everyday I work alongside people with a networth
of $500,000 or more. Some own multiple homes, some have side businesses, some have very fat 401k's, some invest, and some do all four.

People working jobs don't exchange time, they exchange labor and depending on how in demand that labor is and the need for it,
they're paid highly for it. Especially if that labor involves a certain level of expertise which is really only attainable within the confines
of that particular company or other companies within that field.

 

[MMS]

The fact of the matter is there are genuine barriers to "economic freedom" breh.

I've said as much in the past but telling everyone to just "Start a business lol" is absolutely terrible advice !
And no amount of entrepreneurial magical thinking, instagram influencer feel good, "break out the matrix" nonsense
will change that.


Also you can't simultaneously claim you exist outside of a system while actively participating in it.


This isn't true and in any genuine discussion about the economic perils the average american faces
there's nothing "simple".

With that said there are wealthy people with jobs, I work at a large aerospace company and everyday I work alongside people with a networth
of $500,000 or more. Some own multiple homes, some have side businesses, some have very fat 401k's, some invest, and some do all four.

People working jobs don't exchange time, they exchange labor and depending on how in demand that labor is and the need for it,
they're paid highly for it. Especially if that labor involves a certain level of expertise which is really only attainable within the confines
of that particular company or other companies within that field.

you can start an instagram for free you can market other peoples products to them for free

you can effectively make $1000 a month just doing that with zero spend. You just need to know where to look and how to connect with people

there are several in 6 Figs that are actively doing just that.

I think the "crab in the barrel" mentality comes from people who say "Don't start a business, you'll be in over your head!"

or even better what you just said "There are genuine barriers to economic freedom"

can't you see that it's rhetoric like this that keeps you financially enslaved? The key is understanding what options you have and deciding it's time to invest in assets over liabilities. It can be done and it doesn't require going to a bank.

EDIT - just seen the other part

You can call it labor, but its time dog. Chemical process engineering pays. And what pays more? being the manager of engineers or operations you name it. But it's still trading time

that path LOOKS good until you recognize how often you get paid vs the way a business gets paid.

 

[MMS]

I think MMS is implying that if you figure out economics for real, the bad actor always wins. I believe he said history repeats itself.

So basically get your own money, so you can see how the system works, and how the bad actor wins, and how it's a futile fight

Pharoahs compelled and subjugated wide swaths of people to help build pyramids and tombs

Romans conquered barbarians, built roads, dug out mines etc off paid and slave labor

The kings of europe conscripted peasants to fight their wars in the Middle east against Saladin under the guise of wealth on returning

Mao and the communists in china put farmers back to work with government grants after WW2 ravaged their country (forced businesses to transfer their ownership and work directly for the govt)

US used poor americans, chinese, black folks to build railroads, plantations you name it

If you look at history this is just the damn truth. This is why I say it's better to understand capitalism and the fact you have a CHOICE with this system....it's better to participate than be forced with subjugation from a despot or government.

If you choose to be sold to and never sell...you just can't complain that you're always getting wrecked in the transaction

 

[MMS]

God, he sounds like a Rich Man Poor Man cultist.

This is the only way the middle-class/poor are roped into supporting such an awful system. "Sure, the top 10% own nearly everything, but with enough smart decisions you too can be one of those top 10%! It will require numerous underlings to actually do the work and suffer for your benefit, but we're not talking social outcomes here, we're talking wealth! Wealth! Wealth!

He out there talking about profiting off economic rents and getting other people to do the work for your income as if that doesn't create just as many losers....but hey, at least I'm not one of them and that all that matters, right?

 

[Cynic]

There's nothing seemingly about it. Our society exist for the many to serve the few. The rich elite set the rules and control everything. They shift the tax burden onto the poor and use every loophole or trick they can think of to horde their wealth. They unfairly compensate workers but cut checks to shareholders for literally doing nothing.

These people claim they can't afford to pay some bottom rung worker who as a collective they're literally the heart of the company for their time but they can afford to give away excessive money to the people at the top and shareholders. Some millionaire or billionaire exec gets a check they'll never even need annually getting paid several hundred times what their workers get paid and when they screw up they get a golden parachute.

You got companies like Amazon that basically don't even pay federal taxes meanwhile some $30K a year worker has to give up 16% or more of what they make or more a year in various taxes.

Walmart's CEO earns 1,188 times as much as the company's median worker

Doug McMillon Net Worth | Celebrity Net Worth
That guy has an estimated net worth of $100 million dollars. Hell he could take an annual salary of say $500K and say give the rest of my money to the workers and it wouldn't make a difference to him because he'd have to try to burn through $100 million dollars in his life time. fukk it give him the $0.8 million and dump the$ 22 million back to the workers. When you've got a net worth of $100 million an extra $22 million does what?

Networth is not liquidity. They get paid the big bucks because of how rare their skills are
Goodness. Imagine running Walmart

• You have to deal with a board of directors ready to toss you out at any moment
• The press ready to pounce if you even flinch or cut jobs to meet targets
• Shareholders who want growth so they can get returns on their capital
• Competitors coming at your neck like Amazon
• Overseas expansion and overseas competitors
• Legislative changes like Trumps trade war affecting your supply chain

I think the U.S. could do a better job with healthcare considering Canada/Europe/Brasil all have socialised healthcare
but they also have smaller militaries and these neocon hawks would rather fund their defense company dividends
than pay for sick soldiers. I'm with you on healthcare but that's as far as it goes.

 

[winb83]

Networth is not liquidity. They get paid the big bucks because of how rare their skills are
Goodness. Imagine running Walmart

• You have to deal with a board of directors ready to toss you out at any moment
• The press ready to pounce if you even flinch or cut jobs to meet targets
• Shareholders who want growth so they can get returns on their capital
• Competitors coming at your neck like Amazon
• Overseas expansion and overseas competitors
• Legislative changes like Trumps trade war affecting your supply chain

I think the U.S. could do a better job with healthcare considering Canada/Europe/Brasil all have socialised healthcare
but they also have smaller militaries and these neocon hawks would rather fund their defense company dividends
than pay for sick soldiers. I'm with you on healthcare but that's as far as it goes.

Are you suggesting that a person with $100 million in net worth isn't in a position where they could if they wanted retire at that point and never work again all the while having a very nice lifestyle?

That man has achieved a level of success where what he's paid isn't changing his life anymore. It's like when the cup is full and you continue to pour water it just spills over the edge.

That's the problem with these companies. They pay the people who need it the least the most and the people who need it the most the least.

 

[Cynic]

Are you suggesting that a person with $100 million in net worth isn't in a position where they could if they wanted retire at that point and never work again all the while having a very nice lifestyle?

That man has achieved a level of success where what he's paid isn't changing his life anymore. It's like when the cup is full and you continue to pour water it just spills over the edge.

That's the problem with these companies. They pay the people who need it the least the most and the people who need it the most the least.

You don't know what his financial obligations are nor what the source of that networth is ...

Even if he did retire... another CEO would get appointed to serve the exact same function and get the same pay

The companies pay according to value... if your skills are rare - companies will literally fist fight over you