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Old 02-01-2019, 10:34 PM
 
6,094 posts, read 1,468,867 times
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Quote:
Originally Posted by jasper1372 View Post

In other words, if someone gives you money....boom, here's two, five, ten million dollars.... and you haven't actually earned the money, with your own smarts and/or sweat of your own brow over time, you'll have no idea how to manage and keep your wealth and you're likely to lose it all after a short time....back to those who work hard and know how to earn the money you're freely spending.

In short, you don't value that which you don't earn and struggle for. It's human nature, and it doesn't mean you're necessarily defective, just human.

There is a classic book called The Good Earth by Pearl S. Buck about a wealthy family in China that demonstrates this perfectly. Required reading when I was in school. The father builds up a very successful farm business with his hard work and his kids just want to spend the money not understanding what it took to get where their family was.
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Old 02-02-2019, 01:00 AM
 
4,594 posts, read 5,493,906 times
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Quote:
Originally Posted by jghorton View Post
I agree! Only radical politicians with a socialist agenda try to use identity-politics to persuade the ignorant that the rich took their wealth from the poor ... and that they should be punished for building a fortune, by having their wealth re-distributed among the poor. (AKA: "Vote for me and I'll fix this 'injustice'").
It's all so ridiculous because you would be hard pressed to find a working class family in this country without an HD TV of some kind, probably a large one, maybe even a 4K one, a car newer than 10 years old, a smart phone of some sort, and that eats out for their meals at least once a week. Yet those aren't things poor people should be doing. When I was trying to keep my expenses very low, I used every stupid coupon I could, I shopped at Grocery Outlet, I didn't go out to eat unless it was happy hour and even then it was rare, I didn't order alcoholic drinks or any drinks ($2.95 for a Coke? No thanks), I used a spending app to track every dollar I spent, and I used credit cards with things like 3% cash back on gas, 2% on groceries, etc. so that I could maximize my cash back. All of that even though my actual net worth was well into the 7 figures, but none of it was cash-flowing and my only source of income was the modest amount I was making on my own company. If a millionaire is living like that, and you're buying the newest iPhone the second it hits shelves, you have to wonder why are you behaving this way? It's just lack of impulse control. I see people who are worth 100 times less than I am, maybe 1,000 times less, buying the newest iPhone every time it comes out, and yet I wait 3 years for a new iPhone.

The bottom line is it's just the same as lottery winners, they win the lottery, most of them waste all of their money within 5 years and go bankrupt. Most people are just flat out stupid and absolutely terrible with their money. I really don't understand it, but I chalk a lot of it up to lack of big picture thinking. We SHOULD as a society be able to say that there is no social security, you're responsible for saving for retirement, just like you're responsible for taking the trash out, doing your dishes, or any other "you" problem. But no, we can't do that, because the vast majority of people just won't save anything because they can't think beyond what they're doing this weekend. They don't sit down and budget, "Gee, can we afford to have yet another kid when we're living paycheck to paycheck?" "Oh heck, we'll make it work somehow, love is all we need!"

Look around at most people you see, and identify who among them has much of any discipline. If you had a country with discipline and work ethic, you wouldn't have so many 300 pounders roaming around. They can't ALL have thyroid problems. It's a culture that seems to obsess over everything being "fun" and doesn't want to do anything that isn't "fun." Well, heck, I get that, do you think I always enjoy working out hard and long 3-4 times a week? No, I don't. I'd rather be playing video games. I'd rather be just watching a movie. Some days I'm tired, I really don't feel like working out, but I do it anyway because I want to look my best and be healthy, I want to maintain my strength or even get stronger, and it's worth suffering now to be better in the future. It's not FUN to save money for retirement, because it's way more fun to go buy a new 4K TV or iPhone, but it's also not fun to be poor and old, so you'd think that'd be enough incentive for people to realize, gee, I don't honestly need this new iPhone, my current one works well enough.

Socialists invade a country's collective thinking when everyone becomes too lazy to take personal responsibility for their actions or inactions and thinks it's just someone else's fault why they're poor, stupid, lazy, or whatever else. Back in the day, you wanted to eat? You WORK! You showed up at someone's farm and told them you'd pitch in, you'd do anything, for a night of sleep in their barn and a warm meal. But why bother if you could just mooch off the government?
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Old 02-02-2019, 01:29 AM
 
Location: Cebu, Philippines
3,137 posts, read 1,146,504 times
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Quote:
Originally Posted by mysticaltyger View Post
This isn't quite accurate. The Communist system already had an elite. The Mafia-like system wasn't instantly formed. It was already there. Most of the communists just became crony-capitalists (not the same thing as true free market capitalism).
But in the OP's scenario of redistribution, there would also be an elite, those who were already socially placed to be influential and have the inside track. On Day One, somebody is going to be the well-paid shortstop for the Yankees.
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Old 02-02-2019, 04:13 AM
 
8,688 posts, read 7,675,001 times
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A good example is winners of lotteries. Suddenly they have money, and in a short time it is gone, and they owe a lot of taxes they cannot pay.
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Old 02-02-2019, 06:44 AM
 
2,019 posts, read 2,356,848 times
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Default Lottery

I once saw this tv show on lottery winners where one woman was burning through her money like nobody's business. She wanted to buy herself a private plane. I think she was getting a Bugatti for her boyfriend and maybe a Bentley for herself. Wonder if she's back to square one now.
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Old 02-02-2019, 07:37 AM
 
1,023 posts, read 303,175 times
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Quote:
Originally Posted by CaliRestoration View Post
Poor people are poor because they don't know how to manage or "grow" their money. They lack the discipline, education, and motivation to do so.
To be fair, some don't have the health, the native intelligence or the skillsets to make and keep money. I know I have advantages many people don't. I had enough interest and ability in math that that's what I studied in college and I became computer-friendly almost immediately, starting with Fortran programming my freshman year in college (1972). My Dad started investing in stocks in the late 1960s and encouraged my interest in investing. People born into dysfunctional families, with below-average IQs or mental illness have a much steeper road to climb. We do need to take care of them.
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Old 02-02-2019, 07:48 AM
 
Location: Northern Michigan
1,102 posts, read 510,742 times
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Quote:
Originally Posted by michigan lizard View Post
Some of the rich would be rich again, but not all. There would be a shake up with a lot of different people landing in different situations. Probably a lot of successful and unsuccessful entrepreneurship would be attempted. It would be interesting, for sure.
I think you nailed it. My ex-wife's grandfather inherited 35 million dollars from a large family business...in 1936.

By 1950 he was broke, and died a pauper.
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Old 02-02-2019, 08:10 AM
 
7,121 posts, read 3,943,887 times
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Quote:
Originally Posted by athena53 View Post
To be fair, some don't have the health, the native intelligence or the skillsets to make and keep money. I know I have advantages many people don't. I had enough interest and ability in math that that's what I studied in college and I became computer-friendly almost immediately, starting with Fortran programming my freshman year in college (1972). My Dad started investing in stocks in the late 1960s and encouraged my interest in investing. People born into dysfunctional families, with below-average IQs or mental illness have a much steeper road to climb. We do need to take care of them.
I agree with you completely.

I cringe every time someone says those on welfare need to work. Many of them canít handle a job. What work would you like them doing? Their only skill is drug dealing. I donít see them getting through school to be pharmacist.
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Old 02-02-2019, 08:12 AM
 
9,704 posts, read 11,596,925 times
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Zero Sum Game- The ghetto would buy new huge chrome wheels and Iphone 10s and the middle class would start an Iphone/Big Wheels store and profit from it. The rich would own the land that the store is on and overcharge the rent using the proceeds to buy more Apple stock!
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Old 02-02-2019, 08:13 AM
 
9,704 posts, read 11,596,925 times
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Quote:
Originally Posted by MichiganGreg View Post
I think you nailed it. My ex-wife's grandfather inherited 35 million dollars from a large family business...in 1936.

By 1950 he was broke, and died a pauper.
Ever read the Huntington Hartford story.........

https://en.wikipedia.org/wiki/Huntington_Hartford
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