Is this guy correct on giving people money?

[2Thick]

He's delusional.

I work for wealthy / rich / super-rich people for a living - teaching them how to maintain and further build wealth, minimize taxes, earn enough money on their money safely to live comfortably on, provide for their heirs, etc.

Most of them actually do keep the bulk of their worth in their businesses - at least while they're still working. And those businesses they own employ many people, contribute greatly to local economies and beyond, and greatly serve the communities and beyond.

They give tons away to charity, and in my experience are among the nicest, most generous people I know. Oilmen. Construction company owners. Tech company owners. Surgeons. Top lawyers. Private equity guys. Bank owners. You name it.

They don't just hoard most or all of their money - most of them keep at least some in their own businesses, and if they sell out, they reinvest most in public companies, real estate, etc - free markets. Hoarding money under the mattress doesn't make money - you're actually losing money doing that.


Giving money to the “poor” only puts it back in the hands of the rich – they will blow extra money at the casino, at the Apple phone store, and at the car dealership. Those of us who own those companies or invest in them profit when this happens.

Around 20 years ago I was just out of college and making $30k, 40k, maybe 50k in a good year, largely or entirely on incentives. I kept working and thinking ahead and busting my ass – I probably made a quarter million sales calls between the ages of 25 and 40.

Now I make far more money, own my own company, and no longer cold call. I’ve had some bad luck and some good luck, and had some ups and downs between the ages of 25-35, but I kept at it.

There are no excuses.

[K1RB]

He's delusional.

I work for wealthy / rich / super-rich people for a living - teaching them how to maintain and further build wealth, minimize taxes, earn enough money on their money safely to live comfortably on, provide for their heirs, etc.

Most of them actually do keep the bulk of their worth in their businesses - at least while they're still working. And those businesses they own employ many people, contribute greatly to local economies and beyond, and greatly serve the communities and beyond.

They give tons away to charity, and in my experience are among the nicest, most generous people I know. Oilmen. Construction company owners. Tech company owners. Surgeons. Top lawyers. Private equity guys. Bank owners. You name it.

They don't just hoard most or all of their money - most of them keep at least some in their own businesses, and if they sell out, they reinvest most in public companies, real estate, etc - free markets. Hoarding money under the mattress doesn't make money - you're actually losing money doing that.


Giving money to the “poor” only puts it back in the hands of the rich – they will blow extra money at the casino, at the Apple phone store, and at the car dealership. Those of us who own those companies or invest in them profit when this happens.

Around 20 years ago I was just out of college and making $30k, 40k, maybe 50k in a good year, largely or entirely on incentives. I kept working and thinking ahead and busting my ass – I probably made a quarter million sales calls between the ages of 25 and 40.

Now I make far more money, own my own company, and no longer cold call. I’ve had some bad luck and some good luck, and had some ups and downs between the ages of 25-35, but I kept at it.

There are no excuses.

Well said!

[_bruce_]

Quoting articles? Okay...

Yes, they pay but the whole thing is unsustainable because we don't generate enough tax revenue to "re-distribute" because we run a huge federal deficit every year. The issue is no middle class to pay like there used to be, and largely increasing lower class paying nothing/taking. As said above if you are making 10 million theoretically you can pay 32%....but you'd be an idiot if you didn't have an accountant, corporation, charity, etc. to pull down that number.

Bullshit on anything that says small business is increasing....more bullshit on an article that "now considers" small business to be anything compared to what it was. Been doing it for 15+ years and there is no new money going into small business. The backbone is broken.

Agreed.
Also if in trouble - I side with the "rich". Most opportunities I've had in life where given to me by people who were wealthy.

[pluck]

" Giving money to the “poor” only puts it back in the hands of the rich – they will blow extra money at the casino, at the Apple phone store, and at the car dealership.  "

Yep.

I'm not rich or poor, I understand how rich people have and earn money (know a few millionaires) also realize how the welfare types spend money (know these types too)

It's simple. For the poor and uneducated, money is a scarce & finite commodity. It's only used as a means to pay bills and acquire depreciating material possessions. I believe a majority of the population looks at money this way. These people look at those who are more successful and with more money than themselves with loathing and jealousy. Mostly because they do not understand how to make enough money so it's not an everyday concern.

Anyone ever watch those documentaries on the multi million dollar lottery winners? Most of them become broke after a few years. All they do is spend the money on bullshit. Utter bullshit. ...same thing with the newly minted pro athlete with a big contract in any sport. They all get "niggar rich" and buy dumb shit. ...proves my point.

Then there are the wealthy types where money isn't just as a means to pay for everyday living expenses. It's an infinite commodity and more can always be acquired. To them money is a tool to make more money (in an oversimplified way)

[2Thick]

Big govt loves to take that $ from the rich anyway. A fair amount of what they take via more taxes won't ever get to the poor, and whatever tax dollars do trickle down to the poor are taxed again when they spend it, and yet again as profits made by the rich owners and investors in those liquor stores, jewelry stores, car dealerships, auto manufacturers, investors in steel and precious metals, etc.

Not to mention the lottery.  


Many, if not most people who work a decent job and live frugally can likely retire with over 7 figures if they're disciplined and start investing wisely and early and keep at it.

That's one thing separates much of the self-made wealthy and future wealthy from those who spin their wheels and retire broke or cannot ever retire. The 25 year old future millionaire who makes $30-60k a year and gets a $10k bonus at 25 is the guy who invests that $10k bonus, in addition to already contributing $100 a week or more to his work plan.

The guy making that modest hard-earned money at 25-30 who is still broke at 65 is the guy who would blow that $10k or more bonus every year, who simply upped his standard of living as he got older and made more money, and probably didn't bother to contribute much or anything to his retirement plan.

[Primemuscle]

I found this picture in a local community board a lady proudly posted


My reply was " Not true. The rich usually don't ask for free money.. they earn it. They also provide jobs to hard working families and thorough their taxes the non working poor gets welfare."

My comment was deleted....

Am I wrong ?


WoooSSSHHHHHHHHHHH

You might be wrong and right too. The rich don't generally ask for handouts unless it is in the form of corporate tax relief (incentives). At some point, the new rich probably earned their money through hard work. This is not necessarily so with inherited wealth.

As for who pays for welfare and other social programs, our taxes do. I think you will find that middle-income people have comparatively the heaviest tax burden. This is because they often don't qualify for the big tax credits and write offs. They also generally work for an employer and therefore cannot fudge on their incomes as easily as those who are self-employed or own companies where they can compensate themselves in ways that aren't taxable.

I suspect both your comments and the Senator's are pretty simplistic and naïve. When it comes to taxes and finances, things are rarely as simple as they seem.

[kh300]

Fucking liberals. You make 30k because your worth 30k. You make 500k because your worth 500k. If you want a pay increase ask your employer or get a better job, or even better, turn yourself into someone that's worth more.

Fast food is meant to be a first job where you learn a lesson on hard work and managing money. It's not meant for a career.

The rich are getting richer and the poor getting poorer. No the lazy are getting lazyer.

[Primemuscle]

Fucking liberals. You make 30k because your worth 30k. You make 500k because your worth 500k. If you want a pay increase ask your employer or get a better job, or even better, turn yourself into someone that's worth more.

Fast food is meant to be a first job where you learn a lesson on hard work and managing money. It's not meant for a career.

The rich are getting richer and the poor getting poorer. No the lazy are getting lazyer.

It is good to know I am "worth" a lot more than 30K, even though I am retired and no longer need to work. And yes, some of my first jobs were in the food service industry. I worked for Sizzler when I was 16 and Love's Barbecue when I was 17 years old. The work was tiring and the money wasn't great. I moved on.

[Lustral]

It depends on tax structure. Low income people drink and smoke more but while they may buy that locally it is massively taxed in most countries (as they are addictive). The local corner shop makes fuck all on those items, government makes a killing.

If the low income person works they are more likely to eat from local restaurants which depends on business being joe's foodhouse or McDonald's. One is local one is a multinational franchise.

You also have to consider the black market in an area. Is the money going on drugs and whores so no tax?

I also love the spelling of lazier as lazyer which would be highlighted but a high earner ignored it (kh300) cos he is making a million a year and worth it.

[kh300]

It depends on tax structure. Low income people drink and smoke more but while they may buy that locally it is massively taxed in most countries (as they are addictive). The local corner shop makes fuck all on those items, government makes a killing.

If the low income person works they are more likely to eat from local restaurants which depends on business being joe's foodhouse or McDonald's. One is local one is a multinational franchise.

You also have to consider the black market in an area. Is the money going on drugs and whores so no tax?

I also love the spelling of lazier as lazyer which would be highlighted but a high earner ignored it (kh300) cos he is making a million a year and worth it.

Good catch. I didn't say I was a high earner. I make what I'm worth. My life motto is when I'm on my death bed I'm not going to say ''I wish I put more time in at the office''

I work as little as possible and enjoy my free time. I make what I make because that's what I put into it. If I wanted to make more I would, but I don't complain like the liberal pussy's who think they should do less and get more.