Billionaire wealth up by 13% annually since 2010; six times faster than ordinary worker wages.

[LatFlare]

According to Paul Ryan, Cindy can now save 700 dollars each year. If she invests in stocks it's just a matter of time she will climb to wealth.

This is true if she invests wisely.

 

[Cuauhtemoc]

This is true if she invests wisely.

If you consider daily compound interest and 700 extra invested every year, it will take 20 years for these 700 to become 76,523. But 50 years for it to become 4 million.

 

[luckyshot]

Those ideas are better left on forums because they don’t map on to reality. The libertarian arguments fall apart every time you eat and don’t get food poisoning, take a flight that doesn’t crash, drink clean water that wasn’t polluted by a business looking to cut corners, etc.. We should all be libertarian in some respects but the nutters like your friend take it to the extreme.

And yes, you’re intuition is also right. That’s exactly why Koch brothers support libertarian and far right types. They are ideologically nuts too, but the policies line their pockets.

I think a MAJOR reason libertarian thought is gaining popularity is because young people spend more and more of their waking hours in virtual environments.

Libertatianism works great... as long as you aren't worried about the real world where we have to share things like air and water.

 

[mixmastermo]

I think a MAJOR reason libertarian thought is gaining popularity is because young people spend more and more of their waking hours in virtual environments.

Libertatianism works great... as long as you aren't worried about the real world where we have to share things like air and water.

Yea..

The friend in question doesn't get out much. He works long shifts at a power plant and he spends a lot of time alone. When he's home he spends an awful lot of time playing videogames.

His world is very small

 

[Ultra O’Dia]

But you are an idiot. You only want to complain.

i dont think you understand what he is saying, and it makes you the idiot in this thread.

 

[SaiWa]

The Dow Jones Industrial Average annualised return since 2010 with dividends reinvested is 14.18% so if you invested in a fund that tracks the market you could have beaten the evil billionaires.

yeah you think any of these evil billionaires are NOT investing in the stock market??? you are a damn fool.

The majority of them own most of these stocks if not the majority of the companies as well.. lol

 

[bobgeese]

Honestly, I’m so sick of listening to losers complaining about billionaires...

 

[LatFlare]

If you consider daily compound interest and 700 extra invested every year, it will take 20 years for these 700 to become 76,523. But 50 years for it to become 4 million.

I think that's pretty good.

 

[LatFlare]

yeah you think any of these evil billionaires are NOT investing in the stock market??? you are a damn fool.

The majority of them own most of these stocks if not the majority of the companies as well.. lol

So?

 

[mixmastermo]

Honestly, I’m so sick of listening to losers complaining about billionaires...

I'm sick of losers who fail to realize the system is rigged against people who want to make an honest living. I'm sick of losers rallying against a livable wage and a decent standard of living for all who are willing to work.

 

[SaiWa]

So?

whatever the average person can invest in, these wealthy fuckers can do it and do it better and more often. For every $1 I may invest they're investing hundreds of thousands. And they have the ability to do it whenever they want. That's a huge fuckin' advantage so the rich will always get way richer.

You stated we could actually beat the billionaires is absolutely laughable.

You're that poor kid on at the poker tables who won a small pot and thinks he can beat the pros who are stacked to the max and can refill whenever. yes you can beat them that day and maybe a few more days but those pros/rich gamblers are loaded and in the long run they'll run over you once your luck turns...

 

[bobgeese]

I'm sick of losers who fail to realize the system is rigged against people who want to make an honest living. I'm sick of losers rallying against a livable wage and a decent standard of living for all who are willing to work.

We’re both on the Internet at 930am. We have a decent standard of living.

 

[Ultra O’Dia]

We’re both on the Internet at 930am. We have a decent standard of living.

There’s levels to these here zones, mongoose

 

[mixmastermo]

We’re both on the Internet at 930am. We have a decent standard of living.

~sigh~ you win. The system is fair. It doesn't matter I don't have enough to buy politicians to pass legislation to benefit my interests. I should just trust that the ultra rich are generous enough to share. We should take them at their word when they complain about regulations and taxes, they got ultra wealthy simply due to hard work and dedication.

 

[bobgeese]

~sigh~ you win. The system is fair. It doesn't matter I don't have enough to buy politicians to pass legislation to benefit my interests. I should just trust that the ultra rich are generous enough to share. We should take them at their word when they complain about regulations and taxes, they got ultra wealthy simply due to hard work and dedication.

So take your ass off the internet and go do something worth a million dollars. Then act wisely with your money for a generation or two, and maybe you’ll finally be one of the billionaires your so jealous of.

 

[electricfuneral]

So take your ass off the internet and go do something worth a million dollars. Then act wisely with your money for a generation or two, and maybe you’ll finally be one of the billionaires your so jealous of.

the booty straps post baybay!

 

[ManCityFC9]

It's tough to just simply point out the billionaires getting wealthier isn't fair.
-a lot of it is market based; the wages workers earn is based on competition for the workers' talent, cost of living in that particular region, etc.

We can complain about the % gain by the rich but a lot of variables come into play, besides the stock market and financial availability to invest(which is huge by the way).
-since 2010; entrepreneurial success, especially in the software sector, has really aided in the growth of the sheer number of millionaires/billionaires.

expecting a % to % gain, trickle down effect isn't quite pragmatic; competition for talent should go up, but there must also be a supply (this is where some H1B visas come into play) to meet the demand; also the demand for talent should lead to increased wages as a method of competition for such talent.(hence why people find issue with visa holders being paid much less than industry counterparts.

Honestly, I recommend everyone invest or simply work on their assets(even the poorest of us); you'd be amazed out how much of our income we "waste", as opposed to invest(stocks, bonds, property we don't inhabit but rent out for profit, etc.)
-And I say this as someone who has recently taken a deep dive of my financial situation(too many nights out, takeaway food, work lunch, etc.)

I just can't sit back and hate on billionaires for having enough assets to make significant gains in the current economy.
-"fixing" salary pay for visa holders(EEOC maybe), and individual financial adjustment will help the average person attain more assets and increase their pay.

 

[sickc0d3r]

I have a friend that tried to sell me on Libertarianism a few years back. He had been browsing forums and reading up on the subject for a long time. He has no college education.

Long story short, he tried to use some pseudo-intellectual word salad about rights, property, force, etc. to convince me that we shouldn't be paying taxes and funding departments like education through collecting taxes is immoral. He also believed the markets should be completely unregulated, that they fix themselves all the time.

As much as I tried to give those ideas the benefit of the doubt I couldn't help to think this whole thing was invented to try to convince these people they're smart while the rich get richer. It's painfully obvious to anyone with a brain that the rich will do what it takes to make more money and keep all the wealth to themselves.

I laugh when the "non aggression principle" is used to attack the morality of taxes. As if competing in the market is voluntary. Last I checked there are no alternatives to paying rent or taking out a mortgage.

 

[mixmastermo]

So take your ass off the internet and go do something worth a million dollars. Then act wisely with your money for a generation or two, and maybe you’ll finally be one of the billionaires your so jealous of.

Your problem is you're thinking in Black and White terms. You think that just because people point out the system is rigged that equals jealousy.

Maybe it's not as simple as you think. Maybe I'm actually living quite comfortably but I also recognize that people less fortunate than me get exploited. Maybe I'm just as smart as many billionaires but certain circumstances (like health, luck, etc.) prevent people like me from becoming billionaires.

Open your mind a little bit and you'll understand the world isn't that simple. If it were we would all be billionaires.

 

[Rational Poster]

The Dow Jones Industrial Average annualised return since 2010 with dividends reinvested is 14.18% so if you invested in a fund that tracks the market you could have beaten the evil billionaires.

It says annually. Billionaires are getting those kinds of returns each year.