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Land prices vary hugely by region. Submariner is in Maine, as I recall; I wouldn't be at all surprised if land in his area is going for $500/acre or less today. You don't have to be insanely wealthy to buy a reasonable plot land in most of the US.
So instead of giving their employees raises or going out and buying things to help a company keeps their employees.. they are hording their money..
The concept of Trickle Down Economics was introduced to the American people way back in the Reagan Administration. Trickle down was a sham then and is a sham now.
The concept of Trickle Down Economics was introduced to the American people way back in the Reagan Administration. Trickle down was a sham then and is a sham now.
Anyone who ever preached it is BSing you.
Because things were just wonderful under Jimmy Carter.
The concept of Trickle Down Economics was introduced to the American people way back in the Reagan Administration. Trickle down was a sham then and is a sham now.
Anyone who ever preached it is BSing you.
"Trickle-Up" poverty isn't working out too well. Except for those who are having their lifestyle subsidized by the producers in the country.
So much of the wealth created by Buffet, Gates, Bezos and many others would evaporate if the modern-day looters tried to "redistribute" it; but if it remains under private management in the non-profit sector it will stimulate job growth, but under the sort of stronger discipline that ruins the plans and dreams of Special Snowflakes.
This is the sort of "socialism" that even I can learn to live with.
I agree, but if they took half the money they are giving to "charity" and used that half to fund startups, it would stimulate growth even more. I've worked in the nonprofit sector for half my life and it is inefficient, inherently conservative (especially when run by "liberals"), and rewards inside-the-box thinking.
I know what inflation is. In many ways I get more for my dollar than ever before.
$2 gasoline, amazing cars for under $20K, the average American lives better than ever before. Not seeing the problem. Making $50 a week and paying $75 month for rent is no different than making $500/wk and paying $750/mo. In 1933 you had nothing to spend money on anyhow. A crackly radio was the height of technology and
Gold is not magical. Just another commodity. Currency is nothing more than an exchange medium. Numbers are relative. Not going down the Libertarian rabbit hole.
Libertarian =/= gold bug. Today's libertarians promote free enterprise and individual rights. We can live with a fiat money system.
No, Buffett said his effective tax rate is lower than his secretary. He's paying tax on long term capital gains and dividend income. His secretary is paying tax on earned income and it's subject to Medicare tax and Social Security tax.
His secretary should have been buying stock in Warren's company or taking part of her salary in stock. Then SHE would be able to pay a similar effective tax rate.
The adage I always heard is: divide the wealth equally. In ONE year, the formerly rich will be rich again and the formerly poor, poor again. It really is about maturity self-discipline and -- above all -- priorities.
Part of me agrees with that, but it does come off as a bit judge-y. A lot of it is about one's general though process as well as financial ignorance, or lack thereof. Poorer people just can't imagine that fortunes can run out that quickly. They also typically come from unstable environments. People from middle class or higher backgrounds come from more stable environments are somewhat more likely to understand this. So it's easier (though not easy) for some people to hold onto and grow a fortune than others because of their family/social background.
Sorry if you find the truth "judgey"; it is what it is. If the truth reflects badly on you, whose fault is that; is it the truth's fault? The fault of the person who speaks the truth? Or your own?
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