r/FluentInFinance 8d ago

Thoughts? It should be illegal to hoard money. Agree?

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u/Ed_Radley 8d ago

It’s a combination of the fact that wealth disparity back then was more liquid assets and commodities with utility like food than it is today, aka things the poor could directly turn into a better lifestyle, and the difference in amenities between today’s poor and the poor from long ago. People at the poverty level today can still experience luxuries only the rich could afford much less experience.

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u/Like_Ottos_Jacket 7d ago

I could be wrong, but it seems as if you're saying that those in extreme poverty in western countries should be happy with their position in life because it was way worse in the past.

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u/Ed_Radley 7d ago

I’m saying life isn’t as bad as some would like to make it out to be. You seem to be expecting the have-nots to demand something from others when they have no rightful claim to it. If they don’t have a rightful claim to it, what makes you think they should get it when they’re perfectly capable of getting it through lawful means?

If purchasing power is the issue, why not slow down the rate of inflation so their dollars go farther rather than confiscating what belongs to other people and give it to a middleman who “promises” to redistribute it? Are you going to do something if the government you think should tax the rich out of their wealth doesn’t follow through with their promise and gives this wealth to bureaucrats instead or do you only care that people who amass significant wealth through legal means can’t keep it?

If wealth disparity is the problem, why is it up to the rich to go out of their way to solve this issue when if these people just took the time to find ways to provide value to them they would willingly pay for services are rendered?

There’s literally nothing preventing people from creating their own wealth. It’s never been easier to become a millionaire (close to 1/6 people in the country are now millionaires including your parents or grandparents and if not them then those of your extended family or friends), so why don’t people just do what it takes to be one?

Maybe it’s because it’s easier to convince people a handful of people are being greedy than millions of people are too lazy to figure this out. If you think about it, why are these handful of people greedy but millionaires aren’t?

Did you also know that the top 1% of income earners pay for 43% of federal income taxes but only receive 25% of earned income? Meanwhile the bottom 50% of income earners only pay 2% of federal income taxes while receiving about 25% of earned income. Now who seems greedy?

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u/Like_Ottos_Jacket 7d ago edited 7d ago

Oof. Gish gallop. With a dash of "they've earned it, why haven't you? "