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Again, not true. You can buy fractional shares and participate in profit generation immediately instead of wasting your money on booze, drugs, lottery tickets, and Gucci bags.
You still need the money to buy those fractional shares. You always need some money to get started.
Would you believe there are people out there with no extra money to save or invest, and they don't buy booze, drugs, lottery tickets, and Gucci bags either?
You still need the money to buy those fractional shares. You always need some money to get started.
This is where not living beyond your means comes in...
Quote:
Would you believe there are people out there with no extra money to save or invest, and they don't buy booze, drugs, lottery tickets, and Gucci bags either?
You still need the money to buy those fractional shares. You always need some money to get started.
Would you believe there are people out there with no extra money to save or invest, and they don't buy booze, drugs, lottery tickets, and Gucci bags either?
There's a thing called sacrifice. You have to set financial goals and save money like your life depends on it.
This is where not living beyond your means comes in...
You know that and I know that, but a below average IQ person working an entry level job most likely has nowhere to cut. Not me. Not you. But there are many who are not so fortunate in intelligence and earning power. And the bounty is not trickling down to them.
There's a thing called sacrifice. You have to set financial goals and save money like your life depends on it.
It's not always easy to do.
Yes I know that. In real life, there is a significant part of our population that does not understand that, or they never earn enough to be able to have extra to save or invest. All those people who don't earn enough to pay taxes. Very few of them will manage to get educated enough to climb out of their hole. It's very sad, really.
"It's relatively simple, and applies across all income groups that will take a marginal $ and invest it:
1. The Federal government takes a $1, and turns it into about 80 cents of "benefits".
2. If you put $1 and invested it in an index fund in a typical market, you will turn it into $1.08 in a year.
Which number is larger: $0.80 or $1.08?"
.
That $1.00 provides $0.80 of needed benefits (infrastructure, healthcare, etc.). The $0.20 does not evaporate. It goes into the pockets of the workers or those providing the benefits. We get little benefit from the $1.08 sitting in an index fund. The $0.80 makes it possible for the economy to work better or to provide essential services. We always hear how small businesses represent the engine driving the economy but that $0.80 provided the wheels.
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Originally Posted by BeerGeek40
The middle class is getting squeezed but not necessarily because of taxes.
It's other things -- healthcare, daycare, college costs, and out of control housing prices that are doing it, IMO
Correct -- it is the failure of the productivity/compensation ratio that came out of Reagan's scheme that, after forty years, is destroying the middle class and the American Dream. Worker compensation has stayed much the same while productivity greatly increased, and corporate profits have gone up by as much as 700% since the 1980s. Before that they were more in synch.
Quote:
Originally Posted by ansible90
Yes. Very easy to buy just about anything, including a business, from your phone.
You left out the part that you need to accumulate some amount of money first, before you can buy things. A lot of people cant get to that first step because the wealth has not trickled down enough for them to save the first stash. .
Indeed. Technology gives the false illusion that we are better off. The middle class is being manipulated into the poor house, but they have their new cell phones and hi-def satellite TV and Netflix. Part of that manipulation is related to long-term crippling college loans -- a monkey on the backs of millions of Americans. There are other options and solutions, perhaps not as shiny and alluring.
You know that and I know that, but a below average IQ person working an entry level job most likely has nowhere to cut. Not me. Not you. But there are many who are not so fortunate in intelligence and earning power. And the bounty is not trickling down to them.
You didn't read the CNBC story I just posted about a JC Penney Janitor/gas station attendant (both entry level jobs) that amassed an $8 million fortune.
As for the bounty not trickling down? How do you explain the expansion of the upper class by 50% since the 1970s? That's decades worth of trickle down boosting a hell of a lot of people up the socioeconomic ladder.
it is the failure of the productivity/compensation ratio that came out of Reagan's scheme that, after forty years, is destroying the middle class and the American Dream. Worker compensation has stayed much the same while productivity greatly increased, and corporate profits have gone up by as much as 700% since the 1980s. Before that they were more in synch.
Indeed. Technology gives the false illusion that we are better off. The middle class is being manipulated into the poor house, but they have their new cell phones and hi-def satellite TV and Netflix. Part of that manipulation is related to long-term crippling college loans -- a monkey on the backs of millions of Americans. There are other options and solutions, perhaps not as shiny and alluring.
Actually, they're mostly moving the other way... into the upper class. Look at the chart at the link in this post, ^^^.
Doesn't your own experience (if true) prove that "trickle down" works?
Are you telling me that if you have more money, you won't use that money to create more wealth?
Trickle down economics is a scam. When the government decides to redistribute wealth, it says it will give it to the richest Americans first (instead of the poorest or middle class) mainly in the form of tax cuts, loans, what name you, and then this money will trickle down to the middle class and poor.
Of course some trickles down! But just a trickle. Meanwhile the debt increases, infrastructure crumbles (as someone who flies 100,000 miles + a year around the world, I really notice the sorry state of American airports) and the middle class continues to flounder in the USA. Middle class standards are declining.
I see you guys complaining about inflation, most of you need to work to maintain your SOL, some of you are just 1-2 wages away from going into debt. It’s called wage slavery.
It’s not like there isn’t rich people in other countries you know!
You didn't read the CNBC story I just posted about a JC Penney Janitor/gas station attendant (both entry level jobs) that amassed an $8 million fortune.
As for the bounty not trickling down? How do you explain the expansion of the upper class by 50% since the 1970s? That's decades worth of trickle down boosting a hell of a lot of people up the socioeconomic ladder.
I have heard that janitor story before. Interesting but not representative of most poor people.
Some have moved up the economic ladder. But way too many are so low that they don't have to pay income tax. Something is wrong there. The bounty of trickle down has trickled up according to your statistics. People at the upper and middle-upper levels have benefited. Not much trickled down.
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