U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-20-2020, 10:00 AM
 
Location: IN
21,436 posts, read 37,674,849 times
Reputation: 13998

Advertisements

It is a comprehensive article here if anyone wants to discuss it. My opinion is that few things will change, but tax policy might.

https://apple.news/AwCOas1l5SXOVaGuIR8Rubw
Reply With Quote Quick reply to this message

 
Old 06-20-2020, 12:15 PM
 
Location: Ohio
22,103 posts, read 15,435,566 times
Reputation: 18568
Quote:
Originally Posted by GraniteStater View Post
It is a comprehensive article here if anyone wants to discuss it. My opinion is that few things will change, but tax policy might.
Tax policy? You mean after you amend the US Constitution?

So I use my money, investors' money and the banks money to buy land and build a 20-story hi-rise condo, apartment, retail and office complex that other people say is worth $14 Million.

20 years later, other people say it's worth $80 Million.

I mention that, because that is wealth and a lot of people can't seem to grasp the concept.

Wealth and income are not exactly the same.

For those who get bent out of shape and pee their panties, can someone kindly explain how it is my fault that other people now say my property is worth $80 Million?

For those who have issues, you all need to be addressing the other people, not me.

The only thing I did was work to acquire the money to award the contracts.

That's yet another thing people can't seem to wrap their brains around.

You have to want wealth to have it.

Those who want wealth work to create wealth and thus have wealth.

Those who do not want to work to create wealth don't have wealth.

So, kindly explain why I should suffer or penalized because other people are too damn lazy to make the effort to acquire wealth?

Do you all want me to hold the hands of those people not interested in building wealth and force them to build wealth?

I will, but I charge $750/hour for that. You can send the payment to my Paypal account.

Ooops...first things first, what law or authority do I have to force other people to want to build wealth?

I mean, do I have the power to cancel someone's cable and internet streaming services contracts to use that money to build wealth?

They only have to do without cable and internet streaming services for 5-7 years until they get their wealth built then they can have them back.

I know they will struggle terribly without cable and internet streaming services and experience severe depression and deep dark misery, not to mention cable withdrawal symptoms, but sometimes sacrifices have to be made in order to build wealth.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 12:37 PM
 
Location: IN
21,436 posts, read 37,674,849 times
Reputation: 13998
^
I don’t have a strong opinion on the article other than the fact that the status quo is likely. Whether the status quo is sustainable is a larger question. Too few people know how to grow and build wealth as well as invest. Few people saw a small business apocalypse due to Covid last year, though.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 07:56 PM
 
Location: Las Vegas & San Diego
1,600 posts, read 348,712 times
Reputation: 1628
I cant read the article without subscribing but I expect it is about those who earn and spend vs those who take risks and start business or invest. Obviously if you don't invest and take risk, you don't get reward. Paycheck to paycheck living will not build wealth.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 09:49 PM
 
8,359 posts, read 7,514,765 times
Reputation: 3990
Quote:
Originally Posted by Mircea View Post
Tax policy? You mean after you amend the US Constitution?

So I use my money, investors' money and the banks money to buy land and build a 20-story hi-rise condo, apartment, retail and office complex that other people say is worth $14 Million.

20 years later, other people say it's worth $80 Million.

I mention that, because that is wealth and a lot of people can't seem to grasp the concept.

Wealth and income are not exactly the same.

For those who get bent out of shape and pee their panties, can someone kindly explain how it is my fault that other people now say my property is worth $80 Million?

For those who have issues, you all need to be addressing the other people, not me.

The only thing I did was work to acquire the money to award the contracts.

That's yet another thing people can't seem to wrap their brains around.

You have to want wealth to have it.

Those who want wealth work to create wealth and thus have wealth.

Those who do not want to work to create wealth don't have wealth.

So, kindly explain why I should suffer or penalized because other people are too damn lazy to make the effort to acquire wealth?

Do you all want me to hold the hands of those people not interested in building wealth and force them to build wealth?

I will, but I charge $750/hour for that. You can send the payment to my Paypal account.

Ooops...first things first, what law or authority do I have to force other people to want to build wealth?

I mean, do I have the power to cancel someone's cable and internet streaming services contracts to use that money to build wealth?

They only have to do without cable and internet streaming services for 5-7 years until they get their wealth built then they can have them back.

I know they will struggle terribly without cable and internet streaming services and experience severe depression and deep dark misery, not to mention cable withdrawal symptoms, but sometimes sacrifices have to be made in order to build wealth.
Only way those "other people" can say your building is worth so and so is if they can actually back up with cold hard physical currency. Not made up currency, or paper they can just be printed out of thin air at any whim.

If I say your building is worth $100 septillion right now, and I have govt entity or whoever just print it out, or I have the bank just change some digits on their computer cloud system, and write it out on some piece of paper with signatures, is is just diluting the real supply of money that most other people have.

Nor is exchanging money bow for a greater denomination later on which also has to just be printed out, or retyped into the computing cloud. No way to fill out all those IOUs with taxes. The whole population put together dont have enough to cover all the IOUs.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 09:56 PM
 
8,359 posts, read 7,514,765 times
Reputation: 3990
Quote:
Originally Posted by ddeemo View Post
I cant read the article without subscribing but I expect it is about those who earn and spend vs those who take risks and start business or invest. Obviously if you don't invest and take risk, you don't get reward. Paycheck to paycheck living will not build wealth.
Is not about investing either. It is about how much you invest, and how many times you can invest. The smaller the investment the smaller the returns, and probably a greater chance of failing too. Small businesses just dont survive. The more you invest, the more you can make, but if you lose, you lose big.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 10:08 PM
 
Location: Tennessee
27,624 posts, read 20,623,233 times
Reputation: 33477
Quote:
Originally Posted by NJ Brazen_3133 View Post
Is not about investing either. It is about how much you invest, and how many times you can invest. The smaller the investment the smaller the returns, and probably a greater chance of failing too. Small businesses just dont survive. The more you invest, the more you can make, but if you lose, you lose big.
The "issue" is that more at the outset begets more gains.

That's why small time investors have such a problem making a go at it. A guy making $50,000 contributing 10% to his 401k just doesn't have the initial capital to make many gains. You have to start with a big auger to bore with one.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 10:17 PM
 
8,359 posts, read 7,514,765 times
Reputation: 3990
Quote:
Originally Posted by Serious Conversation View Post
The "issue" is that more at the outset begets more gains.

That's why small time investors have such a problem making a go at it. A guy making $50,000 contributing 10% to his 401k just doesn't have the initial capital to make many gains. You have to start with a big auger to bore with one.
Then I say the question is how anyone got the big auger in the first place.
Reply With Quote Quick reply to this message
 
Old 06-20-2020, 10:35 PM
 
Location: Tennessee
27,624 posts, read 20,623,233 times
Reputation: 33477
Quote:
Originally Posted by NJ Brazen_3133 View Post
Then I say the question is how anyone got the big auger in the first place.
Family money. Rising through merit. Dirty deeds.

It really doesn't matter.
Reply With Quote Quick reply to this message
 
Old 06-21-2020, 04:42 AM
 
80,242 posts, read 78,594,179 times
Reputation: 56758
Quote:
Originally Posted by Mircea View Post
Tax policy? You mean after you amend the US Constitution?

So I use my money, investors' money and the banks money to buy land and build a 20-story hi-rise condo, apartment, retail and office complex that other people say is worth $14 Million.

20 years later, other people say it's worth $80 Million.

I mention that, because that is wealth and a lot of people can't seem to grasp the concept.

Wealth and income are not exactly the same.

For those who get bent out of shape and pee their panties, can someone kindly explain how it is my fault that other people now say my property is worth $80 Million?

For those who have issues, you all need to be addressing the other people, not me.

The only thing I did was work to acquire the money to award the contracts.

That's yet another thing people can't seem to wrap their brains around.

You have to want wealth to have it.

Those who want wealth work to create wealth and thus have wealth.

Those who do not want to work to create wealth don't have wealth.

So, kindly explain why I should suffer or penalized because other people are too damn lazy to make the effort to acquire wealth?

Do you all want me to hold the hands of those people not interested in building wealth and force them to build wealth?

I will, but I charge $750/hour for that. You can send the payment to my Paypal account.

Ooops...first things first, what law or authority do I have to force other people to want to build wealth?

I mean, do I have the power to cancel someone's cable and internet streaming services contracts to use that money to build wealth?

They only have to do without cable and internet streaming services for 5-7 years until they get their wealth built then they can have them back.

I know they will struggle terribly without cable and internet streaming services and experience severe depression and deep dark misery, not to mention cable withdrawal symptoms, but sometimes sacrifices have to be made in order to build wealth.
yep , when you are right your right .

those who truely want to build wealth will find a way , the rest will find an excuse.

it is far easier to find an excuse then a way .
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top