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Elections Kamala Harris for POTUS

Rob Battisti said:
What
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You might live a middle-class lifestyle, especially if you are coastal, but if you're making yearly (or even one time) trades netting 700k - 1m, you are clearly not middle class - unless I'm missing something obvious.

According to US Census Bureau:
  • Poverty Class (Bottom 20%): The median net worth is $6,030. This group typically includes younger individuals with significant student debt or low-wage jobs.
  • Lower-Middle Class (Next 20%): The median net worth is $43,760. This pack typically includes young families and early-career individuals who save and invest modestly.
  • Middle Class (Middle 20%): The median net worth is $104,700. This includes individuals in their forties who have paid off some debt and accrued home equity.
  • Upper-Middle Class (Next 20%): The median net worth is $201,800. This group often enjoys more discretionary income and benefits from long-term investments.
  • Wealthy (Top 20%): The median net worth is $608,900. This group often represents older individuals who have accumulated significant savings and investments.
source

You either live in a ridiculously expensive area or are out of touch with how poor the average American is.
 
Islam Imamate said:
How am I wrong in anything here? Yes the terms labor market and unemployment refer to different things and you can have low unemployment with a weak labor market(people drop out of the workforce) and higher unemployment with a recovering market. But with the Biden recovery we had both a strong labor market and low unemployment in addition to rising wages(and of course inflation as a result). You were dishonestly trying to imply that unemployment is and was an issue under the Biden admin when that just wasn't true and your own sources say as much. Why is it hard for you to simply retract a false claim that you yourself disproved with your own sources?
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Because you are talking apples and oranges.
You don't see that?
You went from comparing "unemployment" to bringing up the "workforce."
My sources say exactly what I have been saying and I have quoted and highlighted that to you in past posts. I don't know where you and others are getting the idea that my sources prove your point. You don't think I read what I post? Why should I retract a false claim that is not false to start with? Why don't you read the articles again and re-read what I wrote in my earlier posts. We are going in circles at this point, but I will give you credit for keeping it civil, unlike other idiots in this thread.

Here is to Uncle Joe and his lies:
Biden Took to the Stage, and Lied, and Lied, and Lied
See if you can spot the truth in this article and not turn it into something that favors your point of view.
 
Soggust said:
You might live a middle-class lifestyle, especially if you are coastal, but if you're making yearly (or even one time) trades netting 700k - 1m, you are clearly not middle class - unless I'm missing something obvious.

According to US Census Bureau:
  • Poverty Class (Bottom 20%): The median net worth is $6,030. This group typically includes younger individuals with significant student debt or low-wage jobs.
  • Lower-Middle Class (Next 20%): The median net worth is $43,760. This pack typically includes young families and early-career individuals who save and invest modestly.
  • Middle Class (Middle 20%): The median net worth is $104,700. This includes individuals in their forties who have paid off some debt and accrued home equity.
  • Upper-Middle Class (Next 20%): The median net worth is $201,800. This group often enjoys more discretionary income and benefits from long-term investments.
  • Wealthy (Top 20%): The median net worth is $608,900. This group often represents older individuals who have accumulated significant savings and investments.
source

You either live in a ridiculously expensive area or are out of touch with how poor the average American is.
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I’m not out of touch. I live in the suburbs. My house is worth about $600k and my household income ranges between 200-250k.

I have two kids, two old(10+ years) cars and shop at Costco like the rest of us.

I’m aware there are areas of the US where my income could go a lot further, but that doesn’t mean that I’m not middle class.

my lucrative investments are because I assume tremendous personal risk to escape the rat race and the only way I will be able to do that is to bet on myself.
 
Soggust said:
You might live a middle-class lifestyle, especially if you are coastal, but if you're making yearly (or even one time) trades netting 700k - 1m, you are clearly not middle class - unless I'm missing something obvious.

According to US Census Bureau:
  • Poverty Class (Bottom 20%): The median net worth is $6,030. This group typically includes younger individuals with significant student debt or low-wage jobs.
  • Lower-Middle Class (Next 20%): The median net worth is $43,760. This pack typically includes young families and early-career individuals who save and invest modestly.
  • Middle Class (Middle 20%): The median net worth is $104,700. This includes individuals in their forties who have paid off some debt and accrued home equity.
  • Upper-Middle Class (Next 20%): The median net worth is $201,800. This group often enjoys more discretionary income and benefits from long-term investments.
  • Wealthy (Top 20%): The median net worth is $608,900. This group often represents older individuals who have accumulated significant savings and investments.
source
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That is hard to believe that middle class America has an average net worth of: $104,700.
Net worth? Thats it? What are these guys/girls making in one year? A middle-class salary use to be around $50,000 a year.
 
Rob Battisti said:
I’m not out of touch. I live in the suburbs. My house is worth about $600k and my household income ranges between 200-250k.

I have two kids, two old(10+ years) cars and shop at Costco like the rest of us.

I’m aware there are areas of the US where my income could go a lot further, but that doesn’t mean that I’m not middle class.

my lucrative investments are because I assume tremendous personal risk to escape the rat race and the only way I will be able to do that is to bet on myself.
Click to expand...

Tbh, to me, this just reads like you are doing really well for yourself. No shame whatsoever in that Sherbro and I hope it continues.

But respectfully, you are expressing a net worth well north of like 1.3 million dollars, which puts you in the upper class by like every metric lol.

Now, admittedly, I could see how you still see yourself that way given that without the unrealized equity you are probably are at the upper end of middle class, but you def a rich boi now (i need 5 bucks btw).

And just to clarify - I didn't mean to suggest you are out of touch like you are living large, but just that I'm pretty sure like 2/3 of people are living paycheck to paycheck, if not in significant amounts of debt.


San Marino said:
That is hard to believe that middle class America has an average net worth of: $104,700.
Net worth? Thats it? What are these guys/girls making in one year? A middle-class salary use to be around $50,000 a year.
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It's not the average. It's the median. The average family (not individual) is 1.063m. I'd argue that's less representative, but even if you disagree, my original response was to like 1.3x times that, so my man clearly still doing well, at the very least.

I'm actually surprised it's even that high. How do you save in 2024 on 50k a year? You already need roommates so no home equity, which is like the vast majority of most folks net worth. Nothing is cheap anymore.
 
Rob Battisti said:
I’m not out of touch. I live in the suburbs. My house is worth about $600k and my household income ranges between 200-250k.

I have two kids, two old(10+ years) cars and shop at Costco like the rest of us.

I’m aware there are areas of the US where my income could go a lot further, but that doesn’t mean that I’m not middle class.

my lucrative investments are because I assume tremendous personal risk to escape the rat race and the only way I will be able to do that is to bet on myself.
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You are no where fucking close to middle class lmao.

Seeing you be this out of touch explains a lot lol, and I don't mean that to be offensive

Middle class is a net worth of around 150-300k.

And I would argue that it's lower than that.

Enjoy your money, but that ain't middle class. You are living like prime Ric Flair and the rest of us are the Brooklyn Brawler
 
Soggust said:
Tbh, to me, this just reads like you are doing really well for yourself. No shame whatsoever in that Sherbro and I hope it continues.

But respectfully, you are expressing a net worth well north of like 1.3 million dollars, which puts you in the upper class by like every metric lol.

Now, admittedly, I could see how you still see yourself that way given that without the unrealized equity you are probably are at the upper end of middle class, but you def a rich boi now (i need 5 bucks btw).

And just to clarify - I didn't mean to suggest you are out of touch like you are living large, but just that I'm pretty sure like 2/3 of people are living paycheck to paycheck, if not in significant amounts of debt.
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I’m definitely blessed but I did it through hard work. I’ve been on my own since I was 20 when both my parents died(18 and 20 respectively). All of my networth is tied up so — yes the net worth is high, but I can’t touch any of it.

My goal is to hit 3.5 million net worth by 45 so that I can escape this hell hole.
 
Rob Battisti said:
Good for those states. This is how it should be.
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I'm glad it's happening this way. Republicans got their wish with overturning Roe v Wade, despite a large majority of people in this country opposing it. Now they get to reap what they've sown electorally, and I hope it destroys them this November. Because it exactly what they deserve.
 
Rob Battisti said:
I’m definitely blessed but I did it through hard work. I’ve been on my own since I was 20 when both my parents died(18 and 20 respectively). All of my networth is tied up so — yes the net worth is high, but I can’t touch any of it.

My goal is to hit 3.5 million net worth by 45 so that I can escape this hell hole.
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I get not taxing unrealized gains but maybe a way to tax loans made against those unrealized gains? Looking at the buy borrow die guys.
 
Rob Battisti said:
I’m middle class. I have made hundreds of thousands of unrealized gains this year. If the unrealized tax were to be implemented, I’d have to find a way to pay 50k+ in taxes when I’m already low on cash.

When it’s all said and done, these trades will likely be in the 700k-1m range.

I wrote out my brackets which you liked previously. Why the change?

I’m ALL FOR taxing at these rates — but they have to be for higher brackets. I would be fine going up to 50% even, but you can’t go 46% at these brackets. It’s effectively stopping anyone from breaking the cycle.
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I liked it because I didn't think you said anything necessarily wrong even though I disagreed, sometimes reasonable minds can differ on certain issues. I do in fact support steeper tax rates though.

More importantly I think you're misunderstanding how the tax is applied. Its not that if your unrealized gains reach $1 million you'd be tax 46% of that million, you're getting taxed at that for any money you make beyond that first $1 million. So if your trades are in the 700k-1m range they likely would barely be affected if at all. And really $1 million is already a very high bracket, if we're serious about generating revenue you can't just tax the very rich and especially not when we're considering people making million dollar trades or owning million dollar homes as middle class.
Rob Battisti said:
Personally, that wouldn’t be anywhere as monumentally detrimental to me and my family as a 46% capital gains tax and a 25% unrealized gains tax.

Unrealized gains taxes have barely been implemented around the world and when they have, they have been disastrous.
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Unrealized gains tax is unequivocally bad and should not be implemented I agree which is why I doubt it will be even under a Harris presidency. Trump on the other hand has actually been successful in implementing protectionist policies and promises to double down on that. I think that has also been proven disastrous.
 
San Marino said:
Because you are talking apples and oranges.
You don't see that?
You went from comparing "unemployment" to bringing up the "workforce."
My sources say exactly what I have been saying and I have quoted and highlighted that to you in past posts. I don't know where you and others are getting the idea that my sources prove your point. You don't think I read what I post? Why should I retract a false claim that is not false to start with? Why don't you read the articles again and re-read what I wrote in my earlier posts. We are going in circles at this point, but I will give you credit for keeping it civil, unlike other idiots in this thread.

Here is to Uncle Joe and his lies:
Biden Took to the Stage, and Lied, and Lied, and Lied
See if you can spot the truth in this article and not turn it into something that favors your point of view.
Click to expand...
None of your sources anywhere justified the idea that unemployment has been an issue during Biden's tenure and in fact they point out the opposite, that he's had a full employment economy. You don't deny that right?
 
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