-
@no-quarter The two biggest indicators of success in the west are IQ and conscientiousness
I think we're overwhelmingly told that the biggest indicator of success in the west is how much money you have or make.
Be careful labelling the poor as not having iq or less conscientious mate - well that's how it reads to me.
We're all only a birthplace lottery win from being born dirt poor
It's my observation that predominantly you're rich if born rich and poor if you're born poor. The others make for great motivational speakers and movies but are statistically tiny in the overall scheme.
-
@no-quarter said in US Politics:
@jc said in US Politics:
@no-quarter said in US Politics:
@crucial said in US Politics:
@no-quarter said in US Politics:
Poor people are not poor because of other hard working people. That's not how it works. People are poor because of the decisions they make - that may sound harsh but it's the reality.
I find that quite an incredible pov.
OK. If we put aside people with serious medical or mental health issues, convince me otherwise. Convince me that people are poor because of other hard working people, and that their decisions have nothing to do with it. I'm open to any arguments and happy to change my stance.
Well, economically the arguments are actually pretty straightforward. If you choose to reduce your income (in this case tax revenue) without reducing your expenditure you need to either draw down on savings or borrow. The US doesn’t have savings and isn’t making any real efforts to reduce spending. Presumably this is because the hard working people want both tax cuts and continuation of services they have become used to.
In any event, without equivalent cuts increased borrowing, in the form of deficits, is a pretty safe bet. Deficits lead to higher interest rates, which push up inflation, which always hurts the poor.
Thanks, that helps to answer my question about how tax cuts can potentially impact the poor if the government has not taken decreased expenditure into consideration.
Out of interest, were you supportive of Nationals planned tax cuts?
Yes I supported the cuts. I’m a fan of governments only taking what they need, with a little bit left in reserve. Redistributing a proven surplus makes good economic and political sense. But I wouldn’t have supported them running a deficit to fund a tax cut any more than I’d support them running a deficit to fund discretionary spending programs.
I also believe that making poor economic choices isn’t restricted to the poor. The amount of household debt in most western economies is testament to that.
-
Ray Dalio (Chairman & Chief Investment Officer at Bridgewater Associates) on inequality in America:
Some commentary I haven't read:
-
Just shows how warped the left wing propaganda has become that a tax break for all has become a bad thing.
The US corporate tax rate was stupidly high, made US companies noncompetitive which cost the US across all socio economic groups. It should be as no surprise that those who pay the vast amount of tax would benefit from an across the board tax cut.
The thing that ALL the stats show that if you want to avoid growing up poor... you better hope you are born into a family with a stable mother and father nuclear family unit. If you are born into a nuclear family the chances of success are massively higher than if you are a bastard.
Born as a bastard you are far more likely to be a criminal or poor, if not both. Forget race, gender or family wealth, the biggest indicator by far is family unit, or lack thereof.
And before I get the usual bleating about how some solo mums are just paragons of virtue.. no shit sherlock. But the stats are bloody clear, and the aberrations don't disprove the data.Bad economic outcomes rarely are a direct result of poor economic choices, they are usually resulting form a cascade of poor choices based on ignorance and selfishness.
Want less poverty and 'socio economic tail', start convincing single women to adopt out the babies they have if no Dad is around. Wont ever happen, but all the fucking around around the other edges wont change shit.
And if you want a middle and working class to be revived, lower corporate tax rates and bring back industries. The curb a flood of cheap foreign labour.
Hey look Trump is doing all those things.... who woulda thunk.
I would have left personal tax rates as they were and just lowered the corporate rate, as the US cannot afford the tax cuts, but then they couldn't afford the Paris accords either... and people complained when the plug was pulled on that,
-
Some good points there. It seems we're heading towards a system whereby those at the top making stupid money are happy to continue in this manner, but to assuage their guilt they'll throw a few scraps to the "losers". I would have thought a better system would be in which even those "losers" washing toilets and making the double shot, mocha decaf latte frapachino for the "winners" can have opportunities and access to better employment and pay.
-
The other thing to take into account is that poor decisions from rich people won't make them poor overnight, as too good decisions by poor people, it could take many years to go up or down or even a generation or two.
From a personal point of view I'm from a single parent family of 5 kids, we were reliant on a benefit for many years as well as charity from church groups and just some really good locals. My mother managed to study part time and attain a degree and then eventually a job which got her away from the benefit, unlike many families in a similar boat she saw this as a goal (some of her friends just did not understand that).
We are all grown up now and although we didn't have a lot of advantages some of our friends had we are all employed and on the whole generally good with money having understood what it was like not to have it. Those of us who have married have very good relationships. My prediction is although we're never going to get any significant financial windfall from our parents, the next generation is going to be set up incredibly well and a lot of that is down to my mother making the 'good' decision to better her situation as well as prioritising us kids over her own wants ie dating, life luxuries etc
Funily enough I was talking with her a couple days ago and she had been talking with some old family friends who had a more intact well-off family. Strangely enough all their kids have grown up to be lefty greens/labour supporters while we, who grew up on benefits, are all pretty much in the national camp. The parents (both national supporters) wanted to know how on earth did my mum raise her kids to have the right political ideas!
-
CNN Legal Analyst Paul Callan: "Originally, I was angered at the president's attacks on the FBI...but when I started to delve into the facts, boy there's some really disturbing stuff here."
That’s an understatement!
-
@baron-silas-greenback said in US Politics:
Just shows how warped the left wing propaganda has become that a tax break for all has become a bad thing.
-
Heh-heh.
-
-
This. Is. Wow.
-
@salacious-crumb said in US Politics:
This. Is. Wow.
Winger is DJT?
Edit: I'm a bit lost for words on that. Pretty much sums him up for me. Ignorant and bombastic.
-
Troll level 100.
-
-
Tbf, the same people losing their shit over this are the same ones who point at a mild winter's day as being evidence of global warming.
-
@rancid-schnitzel said in US Politics:
Tbf, the same people losing their shit over this are the same ones who point at a mild winter's day as being evidence of global warming.
That is his exact point I suspect. A very accurate one.
-
@booboo said in US Politics:
@no-quarter said in US Politics:
Troll level 100.
Not sure he has the subtlety
You have clearly not been paying attention. Stop believing the media bullshit.
-
@rancid-schnitzel said in US Politics:
Tbf, the same people losing their shit over this are the same ones who point at a mild winter's day as being evidence of global warming.
It is also why they changed the term to "climate change" rather than "global warming" as some places are going to be significantly colder. Wouldn't expect Trump to understand weather patterns or ocean currents though.
-
@snowy said in US Politics:
@rancid-schnitzel said in US Politics:
Tbf, the same people losing their shit over this are the same ones who point at a mild winter's day as being evidence of global warming.
It is also why they changed the term to "climate change" rather than "global warming" as some places are going to be significantly colder. Wouldn't expect Trump to understand weather patterns or ocean currents though.
The point is that those screaming the most about global warm... climate change are just as guilty as Trump at pointing to an isolated weather event and claiming it to be evidence that proves their point of view.
-
@rancid-schnitzel Yeah I got that. It doesn't make Trump look very bright - nor the others as you say.
US Politics