Top 10% Now Own 77% of American Wealth + Widening Racial Wealth Gap

[Black Panther]

You're right, it's an assumption.

For example If I see a grown man over the age of 25 in America with no money in his pocket, no money in his bank account, and no job or regular income... I'm going to assume his priorities are out of order.

Now if someone's priorities are out of order, that falls on the people that raised him... not the government.

Poverty is a complex subject. Seeing that most Americans are about three missed paychecks away from poverty at any given time, it's not always a matter of "laziness/priorities".

It seems your thoughts on economic opportunity don't allow for someone in this country to work hard and not be successful. It happens all the time.

 

[Alpha Male]

Poverty is a complex subject. Seeing that most Americans are about three missed paychecks away from poverty at any given time, it's not always a matter of "laziness/priorities".

It seems your thoughts on economic opportunity don't allow for someone in this country to work hard and not be successful. It happens all the time.

If someone is three paychecks away from POVERTY then I would assume that person also has their priorities out of balance.

 

[Black Panther]

If someone is three paychecks away from POVERTY then I would assume that person also has their priorities out of balance.

Pass blanket judgements on the majority of Americans, brehs

Most Americans are one paycheck away from the street
76% of Americans are living paycheck-to-paycheck

Apparently I was being generous when I said three paychecks. It's more like one.

 

[Alpha Male]

Pass blanket judgements on the majority of Americans, brehs

Most Americans are one paycheck away from the street
76% of Americans are living paycheck-to-paycheck

If you are living paycheck to paycheck, then you are living above your means. Pure and simple. That means you aren’t saving or cutting back enough on expenses.

I wonder how many people in that 76% have new iPhones and Samsungs, or designer clothes... or a bunch of other unnecessary shyt they feel the need to waste their money on.

 

[Black Panther]

I wonder how many people in that 76% have new iPhones and Samsungs, or designer clothes... or a bunch of other unnecessary shyt they feel the need to waste their money on.

More unwarranted assumptions.

 

[Alpha Male]

More unwarranted assumptions.

How far away from poverty are you?

Do you have any savings?

Could you afford to miss 2-3 weeks of work without it devastating you?

 

[Black Panther]

How far away from poverty are you?

Do you have any savings?

Could you afford to miss 2-3 weeks of work without it devastating you?

My personal financial details aren't relevant to the discussion.

Whether I live in a penthouse or an outhouse, it doesn't mean your assumptions about people living paycheck to paycheck are warranted.

 

[Alpha Male]

My personal financial details aren't relevant to the discussion.

Whether I live in a penthouse or an outhouse, it doesn't mean your assumptions about people living paycheck to paycheck are warranted.

Basic Human Economics: You need more money coming in than going out.

Basic Human Economics: If your spending is too high compared to the amount you earn, you need to increase the amount you earn or reduce the amount you spend.

Basic Human Economics: Saving money ensures your own security. If you aren't able to save money, you need to increase the amount you earn or reduce the amount you spend.


Someone that is living paycheck to paycheck on an extended basis, or is one check away from poverty, probably doesn't grasp Basic Human Economics.

And yes that is an assumption, one which you are free to challenge.

 

[Black Panther]

Basic Human Economics: You need more money coming in than going out.

Basic Human Economics: If your spending is too high compared to the amount you earn, you need to increase the amount you earn or reduce the amount you spend.

Basic Human Economics: Saving money ensures your own security. If you aren't able to save money, you need to increase the amount you earn or reduce the amount you spend.


Someone that is living paycheck to paycheck on an extended basis, or is one check away from poverty, probably doesn't grasp Basic Human Economics.

And yes that is an assumption, one which you are free to challenge.

There's a reason it's called "basic" human economics: it doesn't account for variables.

Like unexpected medical bills. Or emergencies. Or failed investments, theft, mis-timed payments, unplanned charitable donations, etc.

^^Not saying the above aren't manageable (they are), but "reduce your expenses or increase your income" is a drastic oversimplification of most people's financial options.

 

[Alpha Male]

There's a reason it's called "basic" human economics: it doesn't account for variables.

Like unexpected medical bills. Or emergencies. Or failed investments, theft, mis-timed payments, unplanned charitable donations, etc.

^^Not saying the above aren't manageable (they are), but "reduce your expenses or increase your income" is a drastic oversimplification of most people's financial options.

How can you expect to have a rational debate about this when you spew this bullshyt.

Bums don't pay medical bills. Bums don't play the stock market. Bums don't make lofty charitable donations.

Dude actually said 'theft'

 

[Black Panther]

How can you expect to have a rational debate about this when you spew this bullshyt.

Bums don't pay medical bills. Bums don't play the stock market. Bums don't make lofty charitable donations.

Dude actually said 'theft'

I just gave you receipts that the majority of Americans are living paycheck to paycheck. You then said people who are living paycheck to paycheck don't understand "basic human economics". You're generalizing 76% of Americans as "bums"?

76% of Americans aren't affected by medical bills?

76% of Americans don't invest in stocks?

76% of Americans don't make charitable donations?

You have no clue what you're talking about .

 

[Alpha Male]

You're generalizing 76% of Americans as "bums"?

If the only thing between you and utter poverty is a week's pay, then yes you are a bum. Rational people that find themselves in that situation actively work to escape it, they don't make a lifestyle out of it. ​

They certainly don't complain about being broke. Only people who plan on staying broke complain about being broke.​

76% of Americans aren't affected by medical bills?

Not nearly to the degree you are insinuating. ​

76% of Americans don't invest in stocks?

People living check to check don't typically invest in stock, and if they do they don't invest everything they have.​

76% of Americans don't make charitable donations?

I've never heard of a case where someone was living check to check because all of their expendable cash went towards charity.​

 

[Black Panther]

Juelz

• Black Panther
• Jun 26, 2017

I'm not even sure you're being obtuse at this point.

So I'll say this again: 76% of Americans are one paycheck away from poverty. You're telling me that the overwhelming majority of Americans--which, if you live in America, this probably includes you too--are "bums"?

We're not talking about people making a "lifestyle" out of being broke. I think you'd be hard-pressed to find someone who *wants* to live paycheck to paycheck. I'm pretty sure it's not really a choice. :bpgucci:

 

[Black Panther]

Also, wanted to address this point right here:

76% of Americans aren't affected by medical bills?

Not nearly to the degree you are insinuating.

Earlier this year, the financial-advice company NerdWallet found that medical bankruptcy is the number-one cause of personal bankruptcy in the U.S. With a new report out today, the company dug into how, exactly, medical treatment leaves so many Americans broke.

Why Americans Are Drowning in Medical Debt
NerdWallet Health Finds Medical Bankruptcy Accounts for Majority of Personal Bankruptcies - NerdWallet

How does medical debt not affect people to a large degree, when it's the #1 reason for personal bankruptcy in the US?

 

[Serious]

This is a pretty good thread. Decent points made by both sides