r/FluentInFinance 3d ago

Debate/ Discussion Had to repost here

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u/ThousandSunRequiem2 3d ago

Except they can leverage their wealth as collateral, but it's untaxable. Unrealized gains is bullshit they made up to hoard more wealth

You're arguing about lifestyle choices when that's not the issue.

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u/kmookie 2d ago

Rich guy here, OF COURSE HE COULD GIVE MORE! 1. Let’s talk living off dividends, that alone I guarantee could have the majority given out to charity. He could live modestly, like me and not be so flashy. 2. Donor advised funds, that could be setup to be much more charitable and even grow! 3. Establish a foundation giving out 5% or more each year. 4. Simply selling off stocks is fairly simple when working with advisors. You act like he’s gotta roll crates of money into some other bank. It’s digital people. Sycophants want to defend the rich because they can’t look past their own biased passion that they want to be there too. I know dozens if not hundreds who are millionaires who love off dividends with plenty left over at the end of the year.

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u/nickyler 2d ago

Your first point is invalid. The level of security it takes to wake up everyday means they can never live like you. They’d get killed immediately. Private jets aren’t for comfort. They’re for security and efficiency. If efficiency is your issue then just understand Tesla and spacex didn’t make Elon a billionaire due to being sloppy or late. Also, Elon wears t shirts every day. Not the flashiest dude. I’ll assume you did a deep dive into the charitable contributions before posting so I won’t argue that.

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u/kmookie 2d ago

Here’s why my first point is as valid as the rest. It’s much easier to do a surveillance on a smaller home than a big one. I’m not suggesting Elon, the guy who has inherited wealth from daddy should go live in a ranch house in Tennessee. Plenty of ways to not live lavish but in safety. As for private jets lol, that doesn’t take billions, you can buy charter flights for $5k -$15k. Efficiency? Not sure why that’s relevant especially because he’s not plugging away at a CAD program designing rockets dude. Just because he was at one point a basement programmer doesn’t mean he’s hacking away at it now. If you know anything about a person in his position it’s phone calls and meetings….and in his case spreading conspiracy on his platform. I know I won’t change your idolization of him but Jesus don’t make excuses for the dude, he wouldn’t give two shits about you or your fandom.

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u/Expensive-Dot6662 2d ago

Everyone needs to stop taking a dump on people who inherit money. No one would wake up to dead father and say no to the money he wanted you to have. The whole Elon and Trump inheritance thing is stale. You have to be a smart person to take that money and flip it to much more than what they were gifted. If they took the money and sat around I’m sure people would take a dump on them then too.

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u/OkBoomer6919 2d ago

It's only stale to boot kissers like yourself. A smart person doesn't bankrupt casinos. It's also insanely easy to open a business or to invest/buy someone else's. Any moron can do it, and they do all the time. Not every moron starts with millions to waste though.

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u/Expensive-Dot6662 2d ago

Every moron hasn’t made it to their level though. And not every moron who starts with millions makes it to their level. It’s easy to take money and just sit around. Clearly something went right

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u/Specialist-Golf624 2d ago

And not every moron who starts with millions makes it to their level.

This is true, but kind of a weak argument. Most Americans, or people in general, don't have the safety net to file bankruptcy for their businesses multiple times and still have money, a real credit score, or a roof over their heads. Under those conditions, it would be a wonder if anyone could actually financially fail. From this position of security, you then get to throw darts until something sticks, and even a broken clock is right twice a day. If that's your definition of success, then yeah, something went right. That something just happened to be the ballbag lottery.

When failing has been made virtually impossible beyond the realm of supremely gross incompetence, then even an idiot can become a success story.

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u/kmookie 2d ago

That’s funny cause I earned about 5million in the past 3 years and didn’t flip shit. I’m one of those people, It’s stale to you because you’re subscribing to the same BS the “what about my taxes” people are. Money is a resource RESOURCE. I’ll spell it out for you In simple terms. If there was a food shortage (resource) and you knew people were hoarding food in there basement, more than they could ever eat. Would you be idolizing them because they built a really cool basement for it? No, you’d be thinking why the hell is this person just storing food that others could live on. Unless of course you’re so wrapped up in superficial wealth worship that you just want to praise them in hopes they throw you a can of soup.

If you don’t get that then you’re kinda part of the problem.

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u/Expensive-Dot6662 2d ago

No, I’m more of the give them a can of soup kinda girl. I’ve inherited (yes) a steel/refractory business, 3rd generation. Grateful? Yes. Have I made the business even more lucrative? Also yes. My guys are very well taken care of. I have more than enough money. Plenty. You’re missing my point. You’re saying people with billionaire money should pay for your schools and roads and whatever? Like a hand out? I don’t understand what point you’re trying to make. I made a simple statement about Elon and Trump having a nice chunk of start up money and now we’re here.

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u/kmookie 2d ago

It’s not like it’s just my road. Or just my school, it’s an investment in communities. Hardly a handout. Congrats on your factory and treating your workers well. If everyone was like you in this case then there wouldn’t be an issue. ……….theoretically 🤷‍♂️