Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [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 12-05-2021, 10:48 AM
 
4,026 posts, read 4,417,317 times
Reputation: 1880

Advertisements

The Real Wealth Gap
The intergenerational wealth gap, the housing crisis, and how “BLM vs. MAGA” poisons the discussion on every issue that matters.

"No one in the millennial age range has much wealth, in other words, while white boomers remain the wealthiest people in America by leaps and bounds. How the racial wealth gap will look over the next 30, 40, or 50 years is difficult to predict but that it won’t reach anything near the chasmic level between white boomers and black boomers seems a good guess given how staggeringly harder it is for millennials of any race to build wealth than it was for boomers."

https://robertstark.substack.com/p/the-real-wealth-gap
Reply With Quote Quick reply to this message

 
Old 12-05-2021, 10:50 AM
 
2,958 posts, read 1,143,219 times
Reputation: 2701
Why you made another thread on this topic??
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:01 AM
 
Location: Cypress, TX
1,983 posts, read 3,479,994 times
Reputation: 2126
Quote:
Originally Posted by RICANRICAN View Post
Why you made another thread on this topic??
Because Dave truly believes that wealth should be redistributed from people who have worked a lifetime to young folks who are early career or don't work.

Hey Dave, one day Millennials will be the wealthy ones that all the young socialists are trying to steal money from.
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:16 AM
 
4,026 posts, read 4,417,317 times
Reputation: 1880
Quote:
Originally Posted by kreeyax View Post
Because Dave truly believes that wealth should be redistributed from people who have worked a lifetime to young folks who are early career or don't work.

Hey Dave, one day Millennials will be the wealthy ones that all the young socialists are trying to steal money from.
Laughable and is gaslighting to expect millennials to ever achieve wealth on mass.
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:41 AM
 
Location: Texas
37,941 posts, read 17,737,663 times
Reputation: 10366
When it comes to the bottom 50% of wage earners the wealth gap between blacks and whites is 3%. $1000 vs $1030

Who in the world has done a study that measures the wealth gap between like professions? Anyone?
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:44 AM
 
4,026 posts, read 4,417,317 times
Reputation: 1880
Quote:
Originally Posted by Loveshiscountry View Post
When it comes to the bottom 50% of wage earners the wealth gap between blacks and whites is 3%. $1000 vs $1030

Who in the world has done a study that measures the wealth gap between like professions? Anyone?
How would a Black Boomer compare to a White millennial in assets?
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:46 AM
 
Location: Austin TX
11,027 posts, read 6,457,482 times
Reputation: 13258
We have more young first-generation millionaires than any other country.

Let that sink in for a moment. Or five.
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 11:55 AM
 
13,741 posts, read 5,477,372 times
Reputation: 8451
Quote:
Originally Posted by Dave Coe View Post
How would a Black Boomer compare to a White millennial in assets?
Assets, as a sum in the individual general ledger, represent the net result of individual choices over time. Choices like delayed gratification, perseverance, dedication, fewer frivolous actions than those around you, etc. And yes, it also represents taking risks, like investing.

On average, the boomer will have had more time to allow good decisions and compound interest to accumulate, giving them a larger asset pool than a millennial. That is how investments, savings and time work.

You and the other "kill the bourgeoisie" tyrants think assets happen instantly and unfairly. Neither is true. Assets represent nothing more than good choices over time. Your proposal is to punish people for those good decisions, and reward others who made bad ones. This proposal is not new, and it is why so many attempts at implementing any flavor of Hegel/Marx socialism ends in economic ruin, property destruction and human death.

It incentives exactly all the worst behaviors of human beings, while penalizing all the right ones. Sucha system is doomed to failure at the outset, and the only real variable is how long the ruin, destruction and death take.
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 12:01 PM
 
4,445 posts, read 1,435,369 times
Reputation: 3609
Every time a leftist starts talking about wealth inequality and framing it as a racial issue, remind them that their premise is fundamentally flawed and fraudulent. They NEVER compare behaviors that lead to success and wealth creation. Behaviors are what create outcomes. Their framing that all outcomes should be equal regardless of input is exactly why socialism will never succeed. And they just endlessly try to indict America and Americans for "injustices" they had nothing to do with.
Reply With Quote Quick reply to this message
 
Old 12-05-2021, 12:05 PM
 
9,381 posts, read 4,221,157 times
Reputation: 10374
Quote:
Originally Posted by Dave Coe View Post
The Real Wealth Gap
The intergenerational wealth gap, the housing crisis, and how “BLM vs. MAGA” poisons the discussion on every issue that matters.

"No one in the millennial age range has much wealth, in other words, while white boomers remain the wealthiest people in America by leaps and bounds. How the racial wealth gap will look over the next 30, 40, or 50 years is difficult to predict but that it won’t reach anything near the chasmic level between white boomers and black boomers seems a good guess given how staggeringly harder it is for millennials of any race to build wealth than it was for boomers."

https://robertstark.substack.com/p/the-real-wealth-gap

If person A saves money for 10 years and person B saves money for 40 years, who do you suppose has the most savings? Comparing the wealth of Millennials and Boomers is being idiotic and quite frankly, just shows how damn stupid some Millennials are. Of course Boomers are the wealthiest: we've been working/saving longer and haven't had to burn through much of our savings post-retirement like our parents. This is really easy stuff to understand. Anyone who can't understand these simple concepts is probably doomed to a life of minimum wage jobs, so yes, the dumbest of Millennials won't ever have anything - just like there are plenty of Boomers who have nothing. The remainder will be fine. Every single Millennial (Black, white, male, female, or whatever) I work with (dozens) is doing great - far better than I was doing when I was their age. Life hack: instead of wasting energy complaining about how well others have it, direct that energy towards something useful.
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
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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 > Politics and Other Controversies

All times are GMT -6.

© 2005-2024, 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