Economy Income inequality and wasteful spending

[Blayt7hh]

If I realize something that isn't true is it of any value?

I actually don't give a shit if wages are set "correctly", that would be an opinion on how much who should be paid, which is of absolutely no value. It is of absolutely no consequence to me if you have 100 billion dollars, we are just tow dudes or a dude and a lady writing stuff on a karate forum.

You keep saying it's bad but you have yet to point out to me why it's bad. Also does you not having the 100 billion give you some fantastic clarity of vision to see it's bad? The billionaires clearly don't think it's all that bad otherwise they would have shared more of their wealth in whatever way they could.

Negative. You type a comment about everyone getting paid the same. That’s communism (ish) and no one is advocating that. That the normal, lazy smokescreen people like you throw out.

You should give a shit that wages correspond to the rough value of their labor. Besides it just philosophically being theft, which I’m sure you’re against theft and robbery yeah, it’s also just bad for most of society. That’s been played out time and time again in history. That includes our own history in the robber baron era.

You say I don’t say why it’s bad but I wrote a post with a whole list of negative impacts it has on our economy and society. You want to know why I think it’s bad? Feel free to reread my previous posts. Responses like this are why I won’t go further into the weeds at this juncture. You’re not really digesting posts and spitting out formulaic replies.

 

[badascan]

I think there's a direct correlation between IQ and wealth. Most people aren't very intelligent and with that comes the challenges of building and maintaining wealth, some being myopia, appreciation for immediate gratification, dishonesty, low integrity, lack of accountability, and the willful relinquishment of autonomy. *And hubris, which prevents one from acknowledging maybe others could help or being an example of how to make better decisions related to wealth generation.

Basically, people won't or can't help themselves. *Poor people are often stupid, stupid people often make poor choices...

*Edits

 

[chardog]

I think there's a direct correlation between IQ and wealth. Most people aren't very intelligent and with that comes the challenges of building and maintaining wealth, some being myopia, appreciation for immediate gratification, dishonesty, low integrity, lack of accountability, and the willful relinquishment of autonomy. *And hubris, which prevents one from acknowledging maybe others could help or being an example of how to make better decisions related to wealth generation.

Basically, people won't or can't help themselves. *Poor people are often stupid, stupid people often make poor choices...

*Edits

IQ is overrated, there's a certain threshold that everyone needs, and higher IQ, probably better money makers in general, but I dont think it's by a large factor. A lot of wealthy business folks dont need to have particularly high IQ levels to become extremely wealthy. Understanding how to make sales and close big sales, is a skill that most wealthy folks need IMO, and it's not particularly IQ related.

 

[badascan]

IQ is overrated, there's a certain threshold that everyone needs, and higher IQ, probably better money makers in general, but I dont think it's by a large factor. A lot of wealthy business folks dont need to have particularly high IQ levels to become extremely wealthy. Understanding how to make sales and close big sales, is a skill that most wealthy folks need IMO, and it's not particularly IQ related.

My position would be more related to average/below average IQ. Most people are in that range where much fewer high or very high iq's affect the average positively.

It's absolutely possible to be successful and an effective decision maker while also having an average IQ but having a low IQ tends to prevent effective decision making as it relates to wealth generation...

 

[Stoic1]

I might add that, in addition to IQ as a contributing factor, I have noticed that wealthy people often have good impulse control. They usually understand delayed gratification.

Poor people are usually the opposite.

 

[KeepingItReal]

Negative. You type a comment about everyone getting paid the same. That’s communism (ish) and no one is advocating that. That the normal, lazy smokescreen people like you throw out.

You should give a shit that wages correspond to the rough value of their labor. Besides it just philosophically being theft, which I’m sure you’re against theft and robbery yeah, it’s also just bad for most of society. That’s been played out time and time again in history. That includes our own history in the robber baron era.

You say I don’t say why it’s bad but I wrote a post with a whole list of negative impacts it has on our economy and society. You want to know why I think it’s bad? Feel free to reread my previous posts. Responses like this are why I won’t go further into the weeds at this juncture. You’re not really digesting posts and spitting out formulaic replies.

No, I typed a comment about how everyone isn't paid the same and they never will be, because aspirations vary from individual to individual.

There is no rough value to anyone's labor. People's labor only has value within certain contexts. If a cook a meal in a restaurant as an employee, I will get paid, if a cook a meal at home, nobody is going to pay me for that. Well those US billionaires must be some terrible thieves considering they own less than 5% of wealth in the USA.

Well whatever you have said, it hasn't convinced me that someone being a billionaire is bad, someone else being in debt is bad. Like I've mentioned in another thread, the college student who is in debt, but once he gets out of college ends up making $80k-$100 a year withing ten years, we can't really say he is doing badly for himself because he isn't going to be an in debt college student forever. Wealth isn't just unequal among a population, its unequal for a given person if you look at different time periods in their life.

 

[RoastBeast]

Stupid and poor parents normally breed stupid and poor children. If your parents don't read to you or invest their time in teaching you about the world, helping you with school and holding you accountable as a responsible person, you're more than likely going to wind up stupid and poor and your kids will also wind up stupid and poor. It's a difficult cycle to break.

My wife is a good example of this. All her siblings are stupid and poor. The difference is when they grew up, all her siblings gravitated toward their mother who was stupid and poor. She gravitated toward her grandmother who was a hard working, no nonsense type of woman. Now my wife is very successful and her siblings are all stupid and poor.