Wealth distribution in the USA - MensTennisForums.com

MensTennisForums.com

MenstennisForums.com is the premier Men's Tennis forum on the internet. Registered Users do not see the above ads.Please Register - It's Free!

Reply

Old 03-04-2013, 03:35 PM   #1
country flag abraxas21
Registered User
 
abraxas21's Avatar
 
Join Date: Jul 2009
Age: 28
Posts: 12,543
abraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond repute
Default Wealth distribution in the USA

https://www.youtube.com/watch?v=QPKKQnijnsM

That's capitalism for ya.
__________________
abraxas21 is offline View My Blog!   Reply With Quote
Sponsored Links
Advertisement
 

Old 03-04-2013, 03:43 PM   #2
country flag Punky
Registered User
 
Punky's Avatar
 
Join Date: Dec 2011
Location: English Myple and proud
Posts: 31,449
Punky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond repute
Default Re: Wealth distribution in the USA

Glad to see u around
__________________
Hug it out as long as it takes, people
--------------------------------------------
"People were created to be loved
things were created to be used.
The reason why the world is in chaos is because things are being loved, and people are being used."

"יברכך ה' וישמרך,יאר ה' פניו אליך ויחונך,ישא ה' פניו אליך וישם לך שלום"
Punky is offline View My Blog!   Reply With Quote
Old 03-04-2013, 09:42 PM   #3
country flag MaxPower
Registered User
 
MaxPower's Avatar
 
Join Date: Apr 2011
Age: 30
Posts: 7,003
MaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond reputeMaxPower has a reputation beyond repute
Default Re: Wealth distribution in the USA

Thank the concept of "interest". Also one must understand that banks tend to be a-holes that give the rich super deals with good rates and low costs because they are "priority customers" and "safe".

It's very easy with half a brain to gain interest on interest once you have a big fortune. This means rich are getting richer at an exponential rate.

Sadly, as many poor people know, it works the other way around too. If you start to borrow money you dig the hole deeper and deeper and become even more poor.

It's facinating really that so many people underestimate what 4-5% can do over a few decades. The secret to getting rich is much more in long term thinking and low expenses than necessarily having a huge income. A guy in sweden that collected cans actually became a millionaire through time and good investments...
MaxPower is offline View My Blog!   Reply With Quote
Old 03-04-2013, 10:58 PM   #4
country flag sexybeast
Registered User
 
sexybeast's Avatar
 
Join Date: Jan 2011
Posts: 3,258
sexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond repute
Default Re: Wealth distribution in the USA

Rich people have advisors who know where to invest as money loses values while the middle class just consumes and throws it all away on property that loses values in time or bad investments, bad retirement funds and so on.

The main issue is that there is no point to keep money and you need to know how to invest for your wealth not to decrease in value, having interest in banks will never fight inflation so no rich man keeps money in the bank.

The monetary system is not free and capitalistic, on the contrary a close circle of bank oligarchs with extreme power over government controls the printing of money through the central bank, in a true free market people would not be forced to use dollars as money and would have money whose values can not be decreased by printing from the bank oligarchs. As the central bank erases the savings of the middle class, their lifetime of work's value just go up in smoke and consuming stuff they never needed. Rich people's wealth increase because they know how to invest and what kind of savings go up in value, they buy things of eternal value like land, precious metals, art, real estate built in the 19th century in central New York (no suburbia shit), other companies and third world countries that are growing really fast.

This is what happens in an inflation based economy that has the sole solution to print money to get out of uncomfortable crisis. Dont blame it on capitalism, blame it on government allowing this bank oligarchy to control monetary policy.
__________________
All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not truth.
sexybeast is offline View My Blog!   Reply With Quote
Old 03-04-2013, 11:47 PM   #5
country flag MachimoI
Registered User
 
MachimoI's Avatar
 
Join Date: Aug 2011
Location: LATVIJA
Posts: 315
MachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by sexybeast View Post
Rich people have advisors
Woah, woah, woah. Hold your horses. How did the rich people get rich in the first place? Did all of them get their money from their daddies? Nope. Just 2% to 10% of the wealth is inherited among the rich.

The fact of the matter is that most people don't even know what stocks, bonds and mutual funds are. They're mostly themselves to blame for that.

With the rise of the internet, most of mankind's scientific knowledge is now freely available online.

In a free market and a free society, it mostly comes down to your intellect, your education, your knowledge and your initiative amongst other things (your social status at birth, luck, etc.).

So if you're mostly spending your time watching tennis or hanging out in online messageboards, you shouldn't be expecting to be a millionaire.

There's nothing wrong with an unequal distribution of wealth, as long as it doesn't hinder long-term economic growth. Is that the case in the US? Probably, but there's no reason to exaggerate it to the extent it was done in that cheesy video.
__________________
"I like pure vodka."

-Ernests Gulbis, 2011.
MachimoI is offline View My Blog!   Reply With Quote
Old 03-04-2013, 11:47 PM   #6
country flag rocketassist
Banned!
 
Join Date: May 2007
Posts: 25,682
rocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond reputerocketassist has a reputation beyond repute
Default Re: Wealth distribution in the USA

Banks have always had too much power. Far too much.
rocketassist is offline View My Blog!   Reply With Quote
Old 03-05-2013, 08:47 AM   #7
country flag sexybeast
Registered User
 
sexybeast's Avatar
 
Join Date: Jan 2011
Posts: 3,258
sexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by MachimoI View Post
Woah, woah, woah. Hold your horses. How did the rich people get rich in the first place? Did all of them get their money from their daddies? Nope. Just 2% to 10% of the wealth is inherited among the rich.

The fact of the matter is that most people don't even know what stocks, bonds and mutual funds are. They're mostly themselves to blame for that.

With the rise of the internet, most of mankind's scientific knowledge is now freely available online.

In a free market and a free society, it mostly comes down to your intellect, your education, your knowledge and your initiative amongst other things (your social status at birth, luck, etc.).

So if you're mostly spending your time watching tennis or hanging out in online messageboards, you shouldn't be expecting to be a millionaire.

There's nothing wrong with an unequal distribution of wealth, as long as it doesn't hinder long-term economic growth. Is that the case in the US? Probably, but there's no reason to exaggerate it to the extent it was done in that cheesy video.
Some rich people get rich by producing things of value to society and creating jobs, others like the whole finance sector is built on actually beeing in control of money creation itself and legislation prohibits competitors for the big banks who hold control over the central bank.

The bank sector creates a big zero for society, at its best bubbles of wealth that will burst before or later. Young intelligent math students go to finance instead of science or engineering were they really have oppurtunity to create something for society, this is one of our greatest problems with our economic system.

It is not capitalistic when government has monopoly over how people should transfer wealth between them and money supply is entirely controlled by a small group of very powerful banks. If they ever are in danger of failing they simply robb people of their tax money with the politicians they control, incredible how little critisism there is in american mainstream media when banks take trillions of dollars from the american middle class because they call themselves "too big to fail".
__________________
All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not truth.
sexybeast is offline View My Blog!   Reply With Quote
Old 03-05-2013, 03:14 PM   #8
country flag abraxas21
Registered User
 
abraxas21's Avatar
 
Join Date: Jul 2009
Age: 28
Posts: 12,543
abraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by MachimoI View Post
The fact of the matter is that most people don't even know what stocks, bonds and mutual funds are. They're mostly themselves to blame for that.
maybe in 1990 latvia when everyone were equally poor. 23 years later i presume things aren't quite the same, especially with the flat income tax you guys had (still have?).

if that's not the case, i assure you that in a few decades the income differences accross rich versus poor families will be so big that you won't be able to say a thing like that with a straight face
__________________
abraxas21 is offline View My Blog!   Reply With Quote
Old 03-05-2013, 03:37 PM   #9
country flag Har-Tru
-LIFETIME MEMBER-
 
Har-Tru's Avatar
 
Join Date: Mar 2009
Location: Germany
Age: 28
Posts: 20,520
Har-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond reputeHar-Tru has a reputation beyond repute
Default Re: Wealth distribution in the USA

I blame the Jews.
__________________
Quote:
Originally Posted by philosophicalarf View Post
Armstrong says in-competition testing will never catch anyone, only out-of-competition testing and the blood passport can.

Tennis has no blood passport system, and does basically no out of competition testing.

The methods and drugs used by Armstrong in 1999 would work in tennis right now, with zero chance of being caught (not slightly surprising to anyone familiar with the topic, btw).
Har-Tru is offline View My Blog!   Reply With Quote
Old 03-05-2013, 04:07 PM   #10
country flag MachimoI
Registered User
 
MachimoI's Avatar
 
Join Date: Aug 2011
Location: LATVIJA
Posts: 315
MachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by abraxas21 View Post
maybe in 1990 latvia when everyone were equally poor. 23 years later i presume things aren't quite the same, especially with the flat income tax you guys had (still have?).
Maybe what? I have no idea how is this a response to what I said.

How exactly is a difference in income a problem?

Stupid, uneducated people generally are poor, while smart, educated people generally are rich. I have no idea what this has to do with Latvia.
__________________
"I like pure vodka."

-Ernests Gulbis, 2011.
MachimoI is offline View My Blog!   Reply With Quote
Old 03-05-2013, 04:09 PM   #11
country flag Ben D.
Registered User
 
Ben D.'s Avatar
 
Join Date: Jan 2012
Posts: 716
Ben D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond reputeBen D. has a reputation beyond repute
Default Re: Wealth distribution in the USA

4:30 is my favorite moment with the 1% super-rich guy.
It is "sad" to notice that the middle-class have still enough money to survive. A good joint effort from "the Billionaires doormat" Obama and the actual representatives of the 1% (every congressmen) will definitely prove how efficient is american way of life by killing-off this bragging majority.

We are closing to 1932.
1933 is next.
__________________

~♠ Gasquetaires ♠~

1 year, 7 weeks as Top 10 and counting
M T F
Mega-Tsonga-Fandom
don't like Tsonga? move along, it's propaganda here.

Ben D. is offline View My Blog!   Reply With Quote
Old 03-05-2013, 05:07 PM   #12
country flag Punky
Registered User
 
Punky's Avatar
 
Join Date: Dec 2011
Location: English Myple and proud
Posts: 31,449
Punky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond reputePunky has a reputation beyond repute
Default Re: Wealth distribution in the USA

I agree, they are also blame for the luck of parking space near my office!!!
__________________
Hug it out as long as it takes, people
--------------------------------------------
"People were created to be loved
things were created to be used.
The reason why the world is in chaos is because things are being loved, and people are being used."

"יברכך ה' וישמרך,יאר ה' פניו אליך ויחונך,ישא ה' פניו אליך וישם לך שלום"

Last edited by Punky : 03-05-2013 at 05:32 PM.
Punky is offline View My Blog!   Reply With Quote
Old 03-05-2013, 06:13 PM   #13
country flag abraxas21
Registered User
 
abraxas21's Avatar
 
Join Date: Jul 2009
Age: 28
Posts: 12,543
abraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond reputeabraxas21 has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by MachimoI View Post
How exactly is a difference in income a problem?
people get a sense of unfairness over it. Would you be ok if you work 10 hours a day to make 20 while your neighbour works 5 hours a day and makes 100? I wouldn't.

Quote:
Stupid, uneducated people generally are poor, while smart, educated people generally are rich.
well, rich people can afford a better education than poor people so it's not a surprise that wealth is positively correlated with education. intelligence is too to a much lesser degree. still, that's not the point. The point is that not everyone starts at an equal point. when you have people who are born in circumstances way different than others, an unequal wealth distribution is perpetuated.

Quote:
I have no idea what this has to do with Latvia.
I brought your country into account because i think your backgrounds might help to explain your economic ideology.

your general idea that wealth is a product of personal effort only works in... well, it really doesn't work anywhere tbh
__________________
abraxas21 is offline View My Blog!   Reply With Quote
Old 03-05-2013, 06:43 PM   #14
country flag sexybeast
Registered User
 
sexybeast's Avatar
 
Join Date: Jan 2011
Posts: 3,258
sexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond reputesexybeast has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by abraxas21 View Post
people get a sense of unfairness over it. Would you be ok if you work 10 hours a day to make 20 while your neighbour works 5 hours a day and makes 100? I wouldn't.



well, rich people can afford a better education than poor people so it's not a surprise that wealth is positively correlated with education. intelligence is too to a much lesser degree. still, that's not the point. The point is that not everyone starts at an equal point. when you have people who are born in circumstances way different than others, an unequal wealth distribution is perpetuated.



I brought your country into account because i think your backgrounds might help to explain your economic ideology.

your general idea that wealth is a product of personal effort only works in... well, it really doesn't work anywhere tbh
Wealth should be a product of personal skills foremost, but also effort. Mankind is not equal, some men are geniuses and creative while others can only take commands from more creative people they work for. Wealth should not be controlled by government, all working there are a bunch of mediocre bureaucrats with no incentive to create anything of value, neither should wealth be controlled by bank oligarchs whose creativity and skills only aims to create wealth out of nothing, by money printing, debts and bubbles that later burst.

We need creative leaders in the private sector to take control over wealth and production, not bloodsuckers in the financial sector.
__________________
All things are subject to interpretation whichever interpretation prevails at a given time is a function of power and not truth.
sexybeast is offline View My Blog!   Reply With Quote
Old 03-05-2013, 09:57 PM   #15
country flag MachimoI
Registered User
 
MachimoI's Avatar
 
Join Date: Aug 2011
Location: LATVIJA
Posts: 315
MachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond reputeMachimoI has a reputation beyond repute
Default Re: Wealth distribution in the USA

Quote:
Originally Posted by abraxas21 View Post
people get a sense of unfairness over it. Would you be ok if you work 10 hours a day to make 20 while your neighbour works 5 hours a day and makes 100? I wouldn't.



well, rich people can afford a better education than poor people so it's not a surprise that wealth is positively correlated with education. intelligence is too to a much lesser degree. still, that's not the point. The point is that not everyone starts at an equal point. when you have people who are born in circumstances way different than others, an unequal wealth distribution is perpetuated.



I brought your country into account because i think your backgrounds might help to explain your economic ideology.

your general idea that wealth is a product of personal effort only works in... well, it really doesn't work anywhere tbh
Yes, I wouldn't have a problem, if my neighbour earned 5 times the amount I earn. From where comes this notion that everyone should get the same salary? Furthermore, the income inequality between regular people isn't that large, it's the billionaires that skew the picture.

Quote:
well, rich people can afford a better education than poor people so it's not a surprise that wealth is positively correlated with education.
I don't really care that much about the US, as long as it doesn't bring the world economy down, but in most countries there's pretty much unlimited access to higher education. It doesn't cost a fortune at all. If you want to get a degree, you can get a degree. If your parents aren't wealthy enough, you can get a student loan or enter the job market and get a degree after you've saved up enough money.

So, what exactly is it that you're complaining about? I don't get it. I'm not saying your chances of becoming a millionaire or a billionaire are exactly the same as everyone elses, I'm saying that no one's forcing you to be poor, no one's taking money away from you.

Yes, the income inequality could be less pronounced in the US, but you're still better off than the overwhelming majority of humans even if you're a 'poor' American.

Essentially you're whining about the fact that your chances of becoming a billionaire at birth weren't good enough. I don't get it.

And, by the way, most billionaires are *not* from the financial sector (banks, investment funds etc.).
__________________
"I like pure vodka."

-Ernests Gulbis, 2011.
MachimoI is offline View My Blog!   Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


Copyright (C) Verticalscope Inc
Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
vBCredits v1.4 Copyright ©2007, PixelFX Studios