Yeah I got the same dickwads. Such a scam. Every year the policy deteriorates and I can't go elsewhere. (it's through work and I have a "pre-existing" condition)
Wealth Inequality In America
- Thread starter Fiver
- Start date
Did you ever convince some dork at a party to like do a kegstand or maybe something more dangerous, and you did it by making him think he was your friend? Well he probably still believed he was your friend afterwards, even though you totally played him like a fool for your own amusement, because believing the truth would be upsetting.
I think this is where the people of the first world are more or less at right now. They just jumped off the roof into the pool and broke their leg. But they're blaming the guy who built the pool. Not the jerk that made them believe they would be cool. He would never do anything to hurt them.
Sorry, I smoked a lot of weed this past weekend.
I think this is where the people of the first world are more or less at right now. They just jumped off the roof into the pool and broke their leg. But they're blaming the guy who built the pool. Not the jerk that made them believe they would be cool. He would never do anything to hurt them.
Sorry, I smoked a lot of weed this past weekend.
All Americans rent buddy. People who think they own property in a society where the government can confiscate property at any time are suckers.
Don't confuse not getting hit yet by a wrecking ball with the belief that wrecking balls don't exist.
The greatest risk to wealth is sovereign risk.
Embedding because it's interesting.
[ame=http://www.youtube.com/watch?v=KENaWXPmBr0]eEconomics - SPECIAL - Tax Inequality in America - YouTube[/ame]
GET BACK TO WORK YOU DIRTY COMMUNIST
My roommate is from Columbia (born there, but raised in PA). He has a greencard and isn't a citizen. Yet he has received food stamps, welfare, and unemployment (for he's recent layoff)...
The only inequality is that 47% of Americans pay no federal taxes while the top quarter pay over 80% of them.
The only inequality is that 47% of Americans pay no federal taxes while the top quarter pay over 80% of them.
My redneck mentor will says good stuff.
most of my friends just want a dayjob and buy fancy stuff using their credit. it's simply a result of their actions. yes.
Guerilla, you really need to stop fighting these battles by using logic, reason, and facts! You are only going to confuse the rest of the sheeple.
That said, well played as usual sir.
I disagree with the whole renting = anti wealth idea.
I also disagree, at least to some degree that savings is the foundation of wealth building.
Maybe if you're interested getting wealthy at 60 in a wheelchair (exaggerating here a bit) it's a great road to go down on.
Buying a home doesn't make much sense to me as far as being the prototypical wealth building mechanism -the home is a resellable asset that typically goes up in value, but t's far more inefficient than other assets -namely, business assets -if you're looking to build wealth.
If you want to build wealth before you're too old to enjoy it, you're far better off renting and putting your cash to use in the acquisition of business assets -whether it be IP's, products, actual business', etc. Assets that can grow far faster than the inflation rate or any Oceanside home can and actually provide cash flow for the acquisition of other assets in the meantime.
I have nothing against "saving" or home purchases -but I don't consider them to be anywhere near the best wealth building mechanisms.
They work as far as wealth building across generations -which traditionally is why the home was the greatest asset of the middle class. But if you're looking to break out of middle class territory, it becomes pretty irrelevant whether you're renting or owning in the larger schemes of things.
I also disagree, at least to some degree that savings is the foundation of wealth building.
Maybe if you're interested getting wealthy at 60 in a wheelchair (exaggerating here a bit) it's a great road to go down on.
Buying a home doesn't make much sense to me as far as being the prototypical wealth building mechanism -the home is a resellable asset that typically goes up in value, but t's far more inefficient than other assets -namely, business assets -if you're looking to build wealth.
If you want to build wealth before you're too old to enjoy it, you're far better off renting and putting your cash to use in the acquisition of business assets -whether it be IP's, products, actual business', etc. Assets that can grow far faster than the inflation rate or any Oceanside home can and actually provide cash flow for the acquisition of other assets in the meantime.
I have nothing against "saving" or home purchases -but I don't consider them to be anywhere near the best wealth building mechanisms.
They work as far as wealth building across generations -which traditionally is why the home was the greatest asset of the middle class. But if you're looking to break out of middle class territory, it becomes pretty irrelevant whether you're renting or owning in the larger schemes of things.
^ This guy knows what he's talking about.
Investing in your business should be #1
^this. Before I started in IM I was a real estate appraiser, residential and commercial. It has always irked me when people talk about buying a home as "an investment".... if it's rental/commercial property that's one thing but a family home doesn't = investment to me because there is very little guarantee that you will get back what you put in much less cut a profit from a sale down the road.
Markets change, buildings require ongoing maintenance ($$$) and if you are figuring financing costs into the loan amount you might go in upside down from the get go.
Land is a better investment than a building; building materials can depreciate over time. Of course your family needs a place to live, the value provided by a family home is that it fulfills that very basic need. But it shouldn't be anybody's only "investment/asset" any more than a car would be. Saw plenty of folks take a hit when it came time to sell.
Pro tip= get an independent appraisal done before you buy, your bank or mortgage company's guy isn't looking out for you.
Depends on your age and what you've saved though. I'd agree with this in general but the game changes if you're in your 20s and already can afford a a down payment on a house. Rent out 2 rooms to cover your mortgage, live for free, get equity. At this age, most "young professionals" are living in group homes anyway, so it is not like your QOL is suffering by renting out a few rooms. When you're done living with roommates, turn the entire thing into a rental property and get a second place of your own. Alternatively, use the equity you've built in your 20s to acquire said business assets.
Hello friends,
There saying that rich get more rich and poor and get more poor. So eventual rich will own more wealth and poor own less wealth.
Big part is rich know how manage and invest money or hire those who know how invest and manage money for them. So they get more rich over time.
Most poor people usual don't know how invest money or no have any money for invest. When do have extra money often waste on buy things that go down value like iPhone, iPad, or designer clothes instead of invest money for future.
Good luck bros
There saying that rich get more rich and poor and get more poor. So eventual rich will own more wealth and poor own less wealth.
Big part is rich know how manage and invest money or hire those who know how invest and manage money for them. So they get more rich over time.
Most poor people usual don't know how invest money or no have any money for invest. When do have extra money often waste on buy things that go down value like iPhone, iPad, or designer clothes instead of invest money for future.
Good luck bros
Investments in your "other mechanisms" are far from risk free, ask any number of those around here over 30 and many have seen too much of their investments in other mechanisms wiped out.
A home, in this market at least. For the price of first and last months rent plus security deposit you can buy a home and enjoy a payment lower than rent, tax benefits and should it appreciate you get the advantage of leverage. This in addition to the stability of having a stable place to live, stability which lends itself to having more time to focus on work and not on where you are going to live now that you got a 30 day notice. Moving every year or so becomes increasingly difficult and burdensome, burdens which overflow into work productivity, with each year you age.
We can argue the equation of rent vs payment cash flow, but consider the other benefits.
I can't believe we're doing this again...
You don't own that. Try not paying taxes and see how much you own that shit.
Lulz! You gotta pay the taxes first, yet you rave about "tax benefits" off your tax return... This is akin to giving uncle sam an interest free loan, but sometimes you don't even get all your money back that you loaned them. :evil_laughter:
What, apartments can't be stable? You sign this thing called a contract when you rent and they gotta provide you with the whole term you signed for at the very least.
I once lived in the same apartment for 8 years. They rehabbed the place mid-term, new carpets, kitchen, siding and roofing; yet I never had to spend a whole night out of there at all. The worst that can happen is they raise your rent eventually... But that doesn't happen in a down market at all, and only every other year or so in an up market. Last rent raise I saw was a $30 change per month.
Homeownership is for chumps.
It is both a horrible purchase decision and a horrible investment.
- You never actually own it.
- You have to pay taxes on it forever.
- The cost of upkeep is considerable, forever.
- You have no control over the RE market, which doesn't grow as much as people think.
- You will always be sued into the poorhouse if some idiot crashes on your lawn.
- If you want to move to a new city or country, you have to put it on the market and spend months and huge amounts of money to sell it first!
- The nation you purchase it in might not be that stable in 30 years either. That goes double for the USA.
Bunch of pussies.
(after soviet fell) Russia didn't even have any rich people to purchase the oil and gas resources. So instead of having international buyers they just gave it away pennies on the dollar to the so called oligarchs. Then the Russian government fucked them.
Good documentary about Khodorkovsky on netflix.
Having rich people is a good thing. Look for the government using the poor class to fuck the middle class in the future with this inequality bull shit.
(after soviet fell) Russia didn't even have any rich people to purchase the oil and gas resources. So instead of having international buyers they just gave it away pennies on the dollar to the so called oligarchs. Then the Russian government fucked them.
Good documentary about Khodorkovsky on netflix.
Having rich people is a good thing. Look for the government using the poor class to fuck the middle class in the future with this inequality bull shit.
Whats the difference between paying rent to the bank or an investor landlord. Most real estate is leased by mortgage companies to people who think they own. Buying a house to live in inst an investment its an expense.
You do not own that business either for that matter.
Huh? You overpay your quartlerlies?
Your last sentence is what your apartment landlord wanted you to think.
In many places you can buy for the same cash outflow as renting, thus after 8 years, in most cases, also have the benefit of accumulated leveraged appreciation.
You are right, but I can say the same thing about almost anything else. Anything can happen at anytime, yet most people would be better off buying.
lol, I used to say all that stuff when RE was peaking but just bought a place and looking at a second one
where are you planning on living where there is no taxes?