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Old 03-15-2019, 05:53 AM
 
Location: Living rent free in your head
29,829 posts, read 12,674,875 times
Reputation: 21155

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Quote:
Originally Posted by Taksan View Post
Well it actually works like this .... Just like water flows through the point of least resistance to the lowest gravitational point ... or metals move towards a magnetic field ...Wealth flows through the stratum of society towards those with the highest competence.
The single biggest predication of economic success is being in the upper margins of competence. The wealth essentially finds itself with the .1% because the other 99.9% have been outcompeted. Itís natural selection... when competence is scarce as in todayís society itís only natural that the wealth will flow to fewer hands compared to when competence was relatively abundant.
No, it's not competence or natural selection, it's the fact that everything is for sale to those with the means to buy it...

Quote:
A teenage girl who did not play soccer magically became a star soccer recruit at Yale. Cost to her parents: $1.2 million.

A high school boy eager to enroll at the University of Southern California was falsely deemed to have a learning disability so he could take his standardized test with a complicit proctor who would make sure he got the right score. Cost to his parents: at least $50,000.

A student with no experience rowing won a spot on the U.S.C. crew team after a photograph of another person in a boat was submitted as evidence of her prowess. Her parents wired $200,000 into a special account. https://www.nytimes.com/2019/03/12/u...g-scandal.html
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Old 03-15-2019, 06:20 AM
 
Location: Naples FL
304 posts, read 54,358 times
Reputation: 460
Quote:
Originally Posted by 2sleepy View Post
No, it's not competence or natural selection, it's the fact that everything is for sale to those with the means to buy it...
And they acquired the means through....having higher levels of competence.

Itís so funny how those who lack enough competence to compete waste so much time denigrating those that do. Maybe if they spent their time more wisely acquiring more competence then they wouldnít feel so inadequate.
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Old 03-15-2019, 06:51 AM
 
Location: Living rent free in your head
29,829 posts, read 12,674,875 times
Reputation: 21155
Quote:
Originally Posted by Taksan View Post
And they acquired the means through....having higher levels of competence.

Itís so funny how those who lack enough competence to compete waste so much time denigrating those that do. Maybe if they spent their time more wisely acquiring more competence then they wouldnít feel so inadequate.
Or they acquired it from their rich daddy
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Old 03-15-2019, 08:01 AM
 
Location: Thailand
5,551 posts, read 2,656,697 times
Reputation: 10330
Quote:
Originally Posted by 2sleepy View Post
Or they acquired it from their rich daddy
Yet another cop-out. Anyone who did better must have had some huge advantage.
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Old 03-15-2019, 08:41 AM
 
Location: The Triad (NC)
27,876 posts, read 60,270,123 times
Reputation: 31097
Quote:
Originally Posted by Taksan View Post
And they acquired the means through... having higher levels of competence.
Are we still talking about the top 1% (and above)?

If so, I'd be more inclined to credit the competence of their tax attorneys and CPA's...
and of course whatever it is that their grandfather once did.
Attached Thumbnails
The Federal Income Tax Share paid by the Top 1% is at an All-Time High-net_worth_brackets_united_states_2016.png  
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Old 03-15-2019, 10:42 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,945 posts, read 3,789,956 times
Reputation: 6604
Quote:
Originally Posted by 2sleepy View Post
No, it's not competence or natural selection, it's the fact that everything is for sale to those with the means to buy it...
So are you saying if poor immigrants or someone else of lower income moves up, then they didnít work for it?
Or people who who work hard,start a business, become wealthy donít exist?
People of wealth are that way only because they had money to start with?

Well I think that solves the illegal immigration problem. Let them all know that coming to the United States and working hard will not make them wealthy ever. Then they will stop coming.
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Old 03-15-2019, 11:45 AM
 
1,064 posts, read 460,330 times
Reputation: 1117
Quote:
Originally Posted by MrRational View Post
Are we still talking about the top 1% (and above)?

If so, I'd be more inclined to credit the competence of their tax attorneys and CPA's...
and of course whatever it is that their grandfather once did.
My grandfather came over from Ireland with nothing when he was 19 then worked in a chemical plant for 40 years, I've never hired a tax attorney, I'm my own CPA (and I'm so clever I've been paying at the highest rate for the last decade or so).

I've been in and out of the 1% from an income perspective, don't think I quite qualify from a wealth perspective but that's okay.

Of course I had to work my way through college to pay for it and bust my butt in the real world to earn what I have.

But you can keep believing whatever you want to believe.
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Old 03-15-2019, 12:10 PM
 
Location: The Triad (NC)
27,876 posts, read 60,270,123 times
Reputation: 31097
Quote:
Originally Posted by SuiteLiving View Post
My grandfather came over from Ireland with nothing when he was 19...
Got ya beat! I had a GF who came over at 16, alone and didn't even know English.
eta: The other was the first of his family born in the US. Also no English.

Quote:
I've been in and out of the 1% from an income perspective, don't think I quite qualify from a wealth perspective...
Good for you. But you really aren't a part of the discussion. Are you?
Maybe we'll pick up the conversation again when your kids or grands are managing things.

Quote:
But you can keep believing whatever you want to believe.
I will. Thanks .

Last edited by MrRational; 03-15-2019 at 12:27 PM..
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Old 03-15-2019, 12:54 PM
 
1,064 posts, read 460,330 times
Reputation: 1117
Quote:
Originally Posted by MrRational View Post
Got ya beat! I had a GF who came over at 16, alone and didn't even know English.
eta: The other was the first of his family born in the US. Also no English.

Good for you. But you really aren't a part of the discussion. Are you?
Maybe we'll pick up the conversation again when your kids or grands are managing things.

I will. Thanks .
This discussion has used wealth and income interchangeably, it started with the 1% in income and how much of the federal income tax they pay, so why wouldn't I be part of the discussion?
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Old 03-15-2019, 02:26 PM
 
Location: The Triad (NC)
27,876 posts, read 60,270,123 times
Reputation: 31097
Quote:
Originally Posted by SuiteLiving View Post
This discussion has used wealth and income interchangeably...
...so why wouldn't I be part of the discussion?
Because whatever merits each has they aren't interchangeable.
(regardless of what 'the discussion' used)
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