9 out of 10 Americans completely wrong

[RKMBrown]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

 

[rightwinger]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

What is really broke is the large percentages od Americans who work full time yet do not make enough money to support their families needs for food, shelter, education and healthcare for their families

All while the wealthiest 1% accumulate a larger and larger slice of the pie

 

[Skull Pilot]

Do you really believe people making $millions are in the middle class?

The middle class is part of the 80% that own only 7% of our wealth. The top 20%, the rich own 93% of our wealth and the top 1% of them owns 40% of our wealth.

I'm beginning to think math isn't your strong point. Did you even watch the video?

You still haven't told me how another's wealth diminishes your capability to accumulate wealth.

If your net worth, a measure of wealth, goes up it does not mean someone else's goes down. Conversely if another's net worth increases yours does not decrease.

The haves have always made it more difficult for the have nots to accumulate wealth.

How? Anyone can open an investment account on line at E trade, Scott's, Schwabb, Fidelity etc and start to save and accumulate wealth.

No one is stopping them or making it difficult. In fact it's easier than ever.

As any one who has built a fortune knows, it is the first million that's the hardest.

You might not need a million dollars and you certainly can increase your net worth anytime you want by paying down debt or increasing your income and saving.

Each successive million becomes easier and easier. The more wealth the wealthy have the more influence they have over both government and business and thus the more competitive they become compared to those that have less. So the rich get richer and poor get poorer.

The poor are poor because they want to be. As I said the only thing stopping anyone from saving more, spending less and improving their financial position is themselves.

 

[Skull Pilot]

Anyone and I do mean anyone can come up with 25 bucks a week to save. I don't care if you have to dump cable TV or downgrade your smart phone to a prepaid or get a second job picking up dog poop. Anyone can do it.

If you did this from age 16 to age 66 and averaged 8% you would have saved nearly 800K

Now just so you know 800K at a conservative 5% return will provide you a monthly income of over $4000 for 30 years.

All on $25 a week.

Now when I was 16 I had a part time job and was making almost 100 a week. I started saving half of that in a basic growth mutual fund. Now if a 16 year old kid can do that why can't you people?

 

[RKMBrown]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

What is really broke is the large percentages od Americans who work full time yet do not make enough money to support their families needs for food, shelter, education and healthcare for their families

All while the wealthiest 1% accumulate a larger and larger slice of the pie

Why is that an issue? What makes you think one person should guaranteed to earn enough money to support all the needs and desires a large family?

I don't know anyone that's lacking for food, shelter, education, or healthcare in this country. Can you name one person?

 

[RKMBrown]

Anyone and I do mean anyone can come up with 25 bucks a week to save.

If you did this from age 16 to age 66 and averaged 8% you would have saved nearly 800K

All on $25 a week.

Now when I was 16 I had a part time job and was making almost 100 a week. I started saving half of that in a basic growth mutual fund. Now if a 16 year old kid can do that why can't you people?

Where can I get guaranteed 8% annual interest?

FYI: with inflation by the time that 16year old got to retirement 800k would not be much money.

 

[Skull Pilot]

Anyone and I do mean anyone can come up with 25 bucks a week to save.

If you did this from age 16 to age 66 and averaged 8% you would have saved nearly 800K

All on $25 a week.

Now when I was 16 I had a part time job and was making almost 100 a week. I started saving half of that in a basic growth mutual fund. Now if a 16 year old kid can do that why can't you people?

Where can I get guaranteed 8% annual interest?





There are no guarantees but the stock market over any 50 year period has averaged more than 8%. And if you start young you can accept more risk because time is on your side.

For example this fund

https://www.americanfunds.com/funds/details/gfa/a.html

Has a 13% return over it's 60 year history. That's including recessions, bubbles and other stuff that happens in the world.

In fact this is the fund I started with when i was 16 and I still own it.

FYI: with inflation by the time that 16year old got to retirement 800k would not be much money.

Yeah so you might as well not save a dime then. just stop whining that those rich people are holding you back.

 

[RKMBrown]

As I said the only thing stopping anyone from saving more, spending less and improving their financial position is themselves.

To a point, yes. The why of it is also important. A government system that forces welfare recipients to have no assets and no income in order to stay on welfare is also to blame. Humans learn to adapt. You want to change their behavior? You want more people to have more money? You'll have to provide incentives for people to have money vs. just getting by living off welfare.

Seriously, when a welfare queen can make 90k a year not working, and only 20-25k a year at best for a low pay job.. why on earth would she quit her job collecting welfare?

 

[RKMBrown]

.. 13% return over it's 60 year history. That's including recessions, bubbles and other stuff that happens in the world.

In fact this is the fund I started with when i was 16 and I still own it.

Did you factor in inflation? It would cost you 9bucks to buy the same thing today that would have cost 1 buck in 1953.

A 1953 BelAir would have cost you 4k in 1953. Today, that same BelAir, if well cared for would sell for 30k and you would have been able to use it.

Dunno I'd rather live in a house my whole life than save up to buy a house when I retire.

 

[ELITEofWarman8]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

What is really broke is the large percentages od Americans who work full time yet do not make enough money to support their families needs for food, shelter, education and healthcare for their families

All while the wealthiest 1% accumulate a larger and larger slice of the pie

Then don't have kids and fancy houses if you can't afford them.

Anyone and I do mean anyone can come up with 25 bucks a week to save. I don't care if you have to dump cable TV or downgrade your smart phone to a prepaid or get a second job picking up dog poop. Anyone can do it.

If you did this from age 16 to age 66 and averaged 8% you would have saved nearly 800K

Now just so you know 800K at a conservative 5% return will provide you a monthly income of over $4000 for 30 years.

All on $25 a week.

Now when I was 16 I had a part time job and was making almost 100 a week. I started saving half of that in a basic growth mutual fund. Now if a 16 year old kid can do that why can't you people?

Holy hell, someone I have something in common here in this thread! I opened up an IRA last year and even though I don't have much in it, I am sticking as much as I can in it. Even if it is only 10 or 20 dollars a month until my finals are up and I can get a job. Not that hard to save, even a very small amount.

 

[rightwinger]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

What is really broke is the large percentages od Americans who work full time yet do not make enough money to support their families needs for food, shelter, education and healthcare for their families

All while the wealthiest 1% accumulate a larger and larger slice of the pie

Why is that an issue? What makes you think one person should guaranteed to earn enough money to support all the needs and desires a large family?

I don't know anyone that's lacking for food, shelter, education, or healthcare in this country. Can you name one person?

The reason is that when an employer saves money by paying a substandard wage, the rest of us taxpayers have to step in to provide housing, food, healthcare and education subsidies

The employer banks the profit from low wages and the taxpayer makes up the difference

 

[RKMBrown]

I invest because my employer provides matching funds. I keep it there because of the tax incentives of doing so. Not sure I'd invest much in the stock market or government bonds if I did not get those matching funds and the tax incentive of keeping it there. Seems like gambling to me. Their job is to convince you the investment is secure.. but is it really? Heh.. the market can crash the dollar is a bubble waiting to pop. Who's gonna pay for these bonds when folks refuse to buy them? 17TRILLION IN DEBT AND GROWING. .... pop

My recommendation is to diversify. Hold on to real assets that do not depreciate with bubbles.

 

[Polk]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

Who considers welfare a "plausible, viable means for living"?

 

[RKMBrown]

The reason is that when an employer saves money by paying a substandard wage, the rest of us taxpayers have to step in to provide housing, food, healthcare and education subsidies

The employer banks the profit from low wages and the taxpayer makes up the difference

Why do "the rest of us taxpayers have to step in to provide housing, food, healthcare and education subsidies?"

Under what law do you derive this necessity? Is this one of those feel good liberal things? Where does the Constitution guarantee equal distribution of wealth?

You said, "the employer banks the profit from low wages and the taxpayer makes up the difference.." Employers set wages and prices based on consumer demand, employee demand, and competition. Why do you expect your employer to "donate" extra wages to you? Don't like it? Start your own business and pay everyone 6figures to flip burgers.

What company is paying their employees too little?

You want to increase American wages? You'll need to inflate the cost of imports. How? import taxes/duties... Result? Reduced exports when they do the same and increased cost at the register.

 

[RKMBrown]

2nd issue explaining how it's broke: Culture has approved living off welfare as a plausible, viable, means for living in this country.

Who considers welfare a "plausible, viable means for living"?

Democrats.

 

[rightwinger]

The reason is that when an employer saves money by paying a substandard wage, the rest of us taxpayers have to step in to provide housing, food, healthcare and education subsidies

The employer banks the profit from low wages and the taxpayer makes up the difference

Why do "the rest of us taxpayers have to step in to provide housing, food, healthcare and education subsidies?"

Under what law do you derive this necessity? Is this one of those feel good liberal things? Where does the Constitution guarantee equal distribution of wealth?

You said, "the employer banks the profit from low wages and the taxpayer makes up the difference.." Employers set wages and prices based on consumer demand, employee demand, and competition. Why do you expect your employer to "donate" extra wages to you? Don't like it? Start your own business and pay everyone 6figures to flip burgers.

What company is paying their employees too little?

You want to increase American wages? You'll need to inflate the cost of imports. How? import taxes/duties... Result? Reduced exports when they do the same and increased cost at the register.

Under what law? The laws that our duly elected officials have passed to ensure that no person in this country will suffer

Employers compete in an artificial economy where the taxpayer makes up for his substandard pay.

Any employer whose full time employees need to be supported by the taxpayer is being paid too little

 

[Wyatt earp]

It's hard to save what you don't have.

I used to be a financial adviser and everyone and I do mean everyone can find some money to save every month they just don't have the desire to do so.

Not true, but thanks for playing.

Good grief, use your brains. How do you save money when you don't even make enough to cover expenses? When you end up at the food bank at the end of the month because there isn't enough food? Or do you believe they should go to the food bank the whole month and save THAT money?

Grow a garden, hunt, fish, clip coupons. and the favorite of mine dumpster dive (just being silly on that one) Skull is right people waste money on stuff they dont need, but want, instead of save.

 

[Toddsterpatriot]

9 Out Of 10 Americans Are Completely Wrong About This Mind-Blowing Fact - YouTube

Check out this video. What we believe is reality in wealth distribution isn't even close. The top 1% own 40% of the nations wealth while the bottom 80% own 7% of our nations wealth. 7%!

I don't understand how anyone can defend this.

I would never defend that idiotic video.

 

[Toddsterpatriot]

So the answer is no, you didn't watch the video. Watch it and then let's talk. It's not very long.

Again there is no definition of "wealth" given.

And the simple fact is that nothing is stopping anyone from increasing their net worth. There is no "fair" or "unfair" shit.

If you want to increase your wealth the only one that is stopping you is you.

All that video shows me is that people are stupid.

Yes, we have allowed our country to go to the wealthy instead of the workers.

Yes, Cuba is smarter than the US, the workers have the wealth.

 

[Toddsterpatriot]

So, we all should go to Communism?

Communism would be an overreach

What we need to do is examine the policies that enable the wealthy to accumulate and protect more wealth while inhibiting the wealth of working Americans.

Given the overwhelming amount of wealth controlled by such a small percentage, why do we continue policies that encourage more wealth to be concentrated there?

Still waiting for "Trickle Down"???

What we need to do is examine the policies that enable the wealthy to accumulate and protect more wealth while inhibiting the wealth of working Americans.

How does Bill Gates "inhibit the wealth of working Americnas"?