Forum Post: honestly, i dont need all my money ... but
Posted 12 years ago on March 4, 2012, 10:29 a.m. EST by onepercentguy
(294)
This content is user submitted and not an official statement
i've been asked this on here several times: do i really need all the money i make?
no, i dont need it. in fact, i only "need" one tenth of my annual income to survive comfortably.
i cant reconcile that with your demands that i just hand the rest over, as much as people disagree, i earned every dollar i have through my own hard work, education and persistence. nothing was ever given to me, family is broke. such a hunger for success was instilled in me early as a result of being poor and i'm thanking for living in a country with access to schools that allowed me to climb that socio-economic ladder.
i dont believe in handouts basically. i will not give you my money simple because you have a misguided belief that my pile is bigger than your pile and that i should share to be nice even though i earned mine. i was against the financial bailouts in their final form, as i was against the auto industry bailouts. i dont like how unemployment benefits have been extended into perpetuity, i like the german post-reunification model much more.
i'm not against paying most of the federal income taxes. and i'm not against paying for universal health care. i believe the ultra-wealthy have a social responsibility to shoulder the brunt of such costs. i plan on giving everything away when i die, anyway.
You have a very respectable and nuanced position. Not hard left or right.
As per unemployment benefits, there are two things I would much prefer. One, is that if you become unemployed, government will provide you with a job (i.e. society gets something for the money it is giving you)... the second is if there are enough skilled laborers and educated laborers unemployed, it can provide the initial funding for a B worker-owned corporation.
I hope your last sentence was a comment on generational wealth. The idea that wealth passed down family lines is poisonous to either capitalism or democracy, depending on how it is wielded, is not a new one [see Thomas Jefferson]. It is unfortunate that the solution to generational wealth have become propagandized with the image of death.
All I hope for is that we can meet at the positions you stated. For that, I do not know what is needed, I only know what is not.
i personally would not pass all my money to family, but thats a personal choice. if someone else chooses to do so with theirs, whether they earned it or they inherited it, its none of my business.
what do you think about bonuses which are been given to the top 1% managers during "recession"? Something telling me that bailout stimulation of economy is nothing but delay for tomorrow. they just wait for a good moment when worlds economy will be raised up a little more and then...
if they earned it, as in the bonuses were in line with fund performance, than no, i don't have a problem with it.
if their bonuses were discretionary and paid after their employer received bailout funds, then yes, i would have a big problem with that
money flow gathers in pools at the top
Are you planning on giving your money to the government when you die or private charities?
both. my biggest benefactors will be my universities and their foundations. both public universities.
oh - so you aren't going to to donate your lifetime of wealth to the IRS? I didn't think so lol! Glad to hear it - what a waste that would be lol!
Is the shift button on your keyboard broken?
Oh yeah, if we had jobs stimulus to create 20 million jobs, we wouldn't need unemployment extensions.
On the other hand if we dont bail out Detroit, we'd be paying an awful lot more unemployment benefits.
seriously, i dont need all money ... but i need big sum of it
[Removed]
Ok, let's talk brass tacks.
I can work your money, create several jobs and at the same time grow your investment in our venture at a significantly better rate than S&P or the DOW.
Tell me the numbers and I'll give you some back letting you know how many American jobs our venture will create, patronize almost exclusively only Americans who truly need it the most, and the return will come from helping those same while attracting more funding/consumers from many of the upwardly mobile demographic as well as many overseas patrons.
Something somewhat similar to the Goodwill Industries model, but, employing more highly skilled persons who are about much more than just selling paper, stocking store shelves, or crunching corporate numbers.
no thank you, im not interested in snake oil
anyone who ever says they can signifigantly beat market averages is full of shit
That's what I thought.
Typical market slave.
What do you mean? Don't tell me you believe the lie that the market is self leveling, and if things can be done for less, they will be. That's just nonsense.
onepercentguy, I applaud .. your thoughts; ie,
---> "i'm not against paying most of the federal income taxes. and i'm not against paying for universal health care. i believe the ultra-wealthy have a social responsibility to shoulder the brunt of such costs. i plan on giving everything away when i die, anyway"
and if everyone ... or as least the majority of those that are sitting with financial resource thought as you do... we would not be having an employment problem in the country... the economy would flourish ... and the small $15T debt would be bought back or be insignificant in no time....
and that's the problem... those with financial resource are not investing into the economy .... and THAT is really the ONLY problem
on one end, few hold the money to control the economy
on the other end, many could hold the money to control the economy
typo?
on top of half a thought
thanks
nonsensical drivel. many more could hold the money if they choose. i didnt have a rich family or connections and i turned out fine. the rest of you can do the same without handouts.
money is the means in which goods and services are exchanged
if money gatherers want money,
they will have to exchange goods and services to the people
utter nonsense. vast majority of people i personally know with my means feel the same way and invest and give away their money accordingly. mindblowing generosity from the most conservative of ppl, i see it on a daily basis.
our unemployment is elevated because of piss poor regulation of the financial industry, insane monetary policy by the greenspan fed that allowed people into homes that they had no business being in and our materialistic culture. the middle and lower class wanting to live beyond their means is what got is here, in no small part
home ownership is not a birthright. it is a status that is earned. that kind of thinking is destructive.
oh well ;( .... you really don't have touch of the reality of the current situation in this country right now....
imo... you DO have great intentions .... but you are unclear that "the people do not want to be taken care of ".. (that is 1%er propaganda) ... the people simply want jobs ... they want opportunity to earn their own way ...
granted there are many who have given up on capitalism and now want change .... but the majority simply want our system to work ...
and the more and more the 1% deny that the economy for home is broken ... the more the people will want socialism ...
you "in denial" guy's are not only contributing to the problems ... you ARE the problems ... because when you deny that there is a problem ... those in power are less likely to address them
there are plenty of jobs out there without opportunity
good point ... ;)
disagree. im realistic to the cause of our quagmire and not interested in holding anyone blameless, myself included. you are only interested in blaming anyone but yourself. it is quite childish but typical.
why do you say that I hold myself and anyone else blameless ?????
I don't ... we ALL are to blame.... now let's put that behind us ... and FIX it... no ?
because i dont blame just the 1 percent, so i must be in denial? nonsense. the millions of people who gleefully took subprime mortgages with cooked numbers on their applications and who knew they couldnt afford the mortgages for the life of the loan, im clueless because i blame them too. lol.
once there was a time when people got promotions and pay increases as they worked
the hope was the debtor would be making more money in two years
TGolden Slumbers - Carry That Weight
ok... first ... the 1% guy's are NOT the 1% income guy's ...
the "1%" are the "1% thieving guy's that caused the collapse" ...
they want you to believe that we are talking about the 1% income guy's ... because they don't want you joining the 99% ....
2nd ... I say you are in denial because you believe that unemployment in America will correct itself simply through training & effort .... it needs capital resource to rebuild
it's about the distribution of resources
where do i say i believe that unemployment will correct itself? i just listed the three primary causes of this particular crisis - financial regulation, monetary policy and a culture of consumerism and materialism. we havent done anything on those ends. the yield curve is still being flattenes by the fed in the name of growth, glass stegell is nowhere in sight and people are still putting ipads they cant afford on credit
valid question ....
I (maybe wrongfully) concluded that ... due to your statement ..
--->" our unemployment is elevated because of piss poor regulation of the financial industry, insane monetary policy by the greenspan fed that allowed people into homes that they had no business being in and our materialistic culture. the middle and lower class wanting to live beyond their means is what got is here, in no small part." ....
I read that as ..."the middle and lower class wanting to live beyond their means" ... and took offense to it because ... it should be ....""the upper, the middle and lower class wanting to live beyond their means" ... no ?
look... the bottom line... is... we (America) have intentionally distributed a massive amount of our industries globally ... for many (good) reasons... as well as (bad) ones.. (including greed) ...
now... we need to recover ... we have the creativity... know-how ... desire ... and everything necessary to rebuild this Nation better than we have ever seen .... except the access to the necessary capital resource...
imo... because those holding the resources are making more "quick" profits thru quick trading than they can thru longer term investments ... and ... because the (invented) division within our govt & media has stagnated any help from them ...
erroneous assumptions all around. wealthy people dont make quick trades with the core of their wealth, they make long term value investments aimed at consistent returns. they want to stay wealthy, not gamble for a quick buck, it makes no sense. if that wasnt the case, people like me wouldnt invest heavily in berkshire hathaway or REITs or treasuries.
this is why no one takes OWS seriously, its a bunch of people without money projecting their worst fears that aren't rooted in reality onto others. its all extremes with you folks, no nuances or shades of gray. why would anyone try to reason with that.
being without money means no food, no shelter and no healthcare
then go make some money. but no. people are too proud to work a basic entry level services job, like fast food or janitorial work. they only take them after their unemployment that's been extended for years runs out, if that
if i were to lose everything tomorrow, i'd have no problem taking a minimum wage busboy or janitor's job. none. i'd be happy to not starve and to have something to keep myself busy. being raised poor removes all arrogance, in that regard.
i would gladly scrub toilets and urinals to not be on food stamps.
there was no promotion or raise for my last two year dish washing jobs
despite my efforts towards efficiency and organization for the company
are you not being paid for your labor? are you starving?
if you strive for a better job, get one. if you aren't qualified for the job, get qualified. get the necessary education, licensing, etc.
i'm an attorney. it required seven years of college and a bar exam. if someone was upset that they couldnt get my job right off the street, you can understand why id be unsympathetic and amused
hmm ... I wish it were true .... the majority of the money people I know want quick high returns ... w/ zero gamble .... maybe we are ALL wrong to some extent ... no? .... maybe good to find some statistical facts to back any of it up ...
added ... are we talking "core wealth" ? ... well .... core wealth is never used for investment ... only security ...
invest their money accordingly.. so not investing in any corporation that outsources you mean? or other wise your point is contradictory. there are very few people that want a hand out.... they want a job. like they had 3 years ago. im glad you want to be on the correct side of the issue but if you have invested into anything that pays workers outside the US you have contributed to economic crisis