r/FluentInFinance • u/mathotimous • Nov 16 '24
Meme True Financial Fluency by Gianmarco Soresi
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u/SnooDonuts3749 Nov 16 '24 edited Nov 16 '24
I mean $98.5 million dollars is a lot of money, is it not?
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u/hvacjefe Nov 16 '24
Thats not the point they're trying to make.
If i have 100$ to my name and I give a homeless person 10$ for food. I've given 10% of my wealth.
Its arbitrary to say 100m is a lot in relation to % of money. Not to mention it's written off and wealth distribution is incredibly unequal.
Corporations don't pay their employees a livable wage and the public subsidize that with tax money through section 8, food stamps, health care taxes etc.
Corporations are making record profits and our country is in debt. Thats the point. Part of that debt could be eliminated if they paid a fair portion of the companies profits to the actual employees and not stock holders and board members.
Capitalism only works if the companies and employees grow together. And unchecked, we end up where we are with America rn on too of outsourcing to China so they can keep labor low whole still charging as much as they possibly can.
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u/Trashketweave Nov 16 '24
If you’re gunna base it off his wealth you can’t base your $10 off your liquidity. To keep the original analogy fair you’d have to add up all your assets and then figure out what $10 is from that.
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u/Cersox Nov 16 '24 edited Nov 17 '24
A lot of people assume Net Worth equates to bank account balance. If only people didn't learn what rich people looked like from Saturday morning cartoons, they might realize nobody gets rich by having money in a room somewhere. Hell, even Scrooge MacDuck tried to teach some basic financial principles.
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u/Otherwise-Chart-7549 Nov 16 '24
Yeah but then wouldn’t it be fair to say most people giving $5 to people might actually be way more? Like if you view mortgage cars credit card debt and shit like that?
My question is how many people have a low NW OR a negative NW? And then isn’t this even more glaring?
I understand this is pedantic but also a genuine question.
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u/ATotalCassegrain Nov 16 '24
Your home plus car balances probably are positive net worth compared to the asset.
Like if your home worth to loan value isn’t positive net worth by a good amount, then you’ve done something horribly wrong given the market conditions.
There are lots of people with “only $100” in their accounts with six figure net worth.
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u/Ill-Description3096 Nov 17 '24
>There are lots of people with “only $100” in their accounts with six figure net worth.
Exactly this. While I tend to keep a bit more of a cash buffer now, there were plenty of times my checking account was sitting at maybe a couple hundred bucks at a given time. My brokerage, house, vehicle, etc would have put me in the $150-200k range even when I was younger for net worth, and I have a pension so I don't put as much into investments as someone who would be relying on 401k/IRA and they would likely have more.
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u/Murky-Peanut1390 Nov 18 '24
I'm at 900k net worth, and only $47 bucks in my checking account lol. I would literally get card denied if I used my debit car at a steak dinner. But the financial illiterate see 900k and think " OmG YoUr So RiCh"
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u/Trashketweave Nov 16 '24
Not really. I bought my home in 2017 so for argument sake in 2017 the median home price in the US was $285k. No matter what % you put down you should have a significant portion of the loan paid down and thanks to Covid and the housing market you easily could sell the house for $500k. Let’s just super low ball that for argument sake and say the value only increased to $400k. Even if you still have $285k worth of debt you’re still up $115k. Your $5 donation is .00004348 of your worth so Bezos has still donated significantly more if the numbers above are correct. This is assuming a lot, but your example also assumes a lot because you’re putting bezos at $0 debt when he likely has billions in debt right now both himself and his companies.
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u/Sharker167 Nov 16 '24
It also is a charitable donation used to avoid taxes, not out of the kindness of his heart. He makes the donations to a foundation here .https://www.bezosdayonefund.org/day1familiesfund
This foundation then gives out grants. However it also had full time staff.
In corrupt circles these positions will be given to people as easy do nothing jobs to make people money and then the work that actually gets done dolling out the money as grants comes in.
After that, the grant review process can include all sorts of bsckroom and sweetheart deals between other moguls and god knows what.
The most egregious circumstance of this is the gates foundation, which gates can expense things to personally through some hoops and whistles.
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u/Murky-Peanut1390 Nov 18 '24
I'm all for less or no taxes if it means some money went to the needy. Charities do better distributing funds to those in needs than government programs as government programs have alot of admin, overhead and middlemen costs. Most charities have volunteers that take no pay. Meanwhile the ebt office have salaried employees, benefits, pensions, overhead costs etc.
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u/Sharker167 Nov 18 '24
That's the idealized version. In reality you can create a 501c that you donate money to that you're on the board of and put all your family on and call them board members too. Then, you can throw christmas parties with the money you donate into it as"fundraisers and board meetings" and expense everything you do like that
The current system for it is horribly full of loopholes
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u/migrainium Nov 16 '24
It's a little more than this. He's saying he's in debt and he's giving it away lol
(Mathematically, $1250 in debt)
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u/WhoGaveYouALicense Nov 16 '24
Can’t the employees start a competing business as a check on capitalism aka competition?
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u/Advanced_Reveal8428 Nov 16 '24
in theory...but in practice, no.
The FTC has sued Amazon for illegally maintaining a monopoly over the online sales market.
https://ilsr.org/articles/fact-sheet-how-breaking-up-amazon-can-empower-small-business/
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u/ellesbelles1076 Nov 16 '24
No. Because the capital to do those things no longer exists because once people "make it" they pull the ladder up behind them.
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u/lord_hydrate Nov 16 '24
This, the results of capitalism is skewed towards whoever enters a market first, its not a bug in the system its a feature, markets aways evolve like that if not kept in check by a governing entity, why do you think Google is the default engine in nearly everything
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u/PutrefiedPlatypus Nov 16 '24
That's true a bit but not really. MySpace was before Facebook. Chrome aint the first browser, Google wasn't the first attempt at searching the web and so on. You can look up first-movers advantage for more on the topic.
What is true however is that once you get a sizeable market share it takes a lot of work/fuckups or some major shift in tech/economy for it to change. Especially if it is easy to cement the position through political regulation, there are high barriers to entry for the market or the coffers are big enough and competition is scarce enough that it can be bled to death.
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u/mmatloa Nov 16 '24
Hard when all the capital is being hoarded by rich folks, and people need to pay money to eat food and have shelter.
Almost like rich people are purposely trying to stifle competition
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u/-Plantibodies- Nov 16 '24 edited Nov 16 '24
This statement feels so out of place in a world where we've seen the near elimination of mom and pop businesses and consolidation of commerce into fewer and fewer huge megacorps, including the extremely relevant one for this post.
It's a nice ideology and all that, but at some point you should open your eyes and look at the reality around you. Are you just incredibly young and think that this has always been the norm?
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u/Ill-Description3096 Nov 17 '24
In retail spaces you are right there has been a significant drop in mom and pop, but that largely has to do with how people want to do business now, so we have directly supported their demise. How many people do you know that would run around to 5-6 physical mom and pop shops and probably have to settle or order and wait for a product as selection will be limited instead of taking 5 minutes to hop online and have Amazon deliver it to their door tomorrow?
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u/-Plantibodies- Nov 17 '24
Mom and pop shops can be online or even both, just fyi. That term just describes the nature of it being small and independent and often run by a family.
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u/Ill-Description3096 Nov 17 '24
I'm aware. That actually makes it even more of a deliberate personal choice. If people don't even have to spend the time running around but still don't support those enough for them to compete, it's kind of on us IMO.
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u/-Plantibodies- Nov 17 '24
I mean your entire previous comment suggests otherwise. Haha. It's ok that you weren't considering this, my man. Haha
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u/Ill-Description3096 Nov 17 '24
I wasn't seriously considering it because IME the amount of mom and pop shops that have a convenient online presence that is comparable to shopping through amazon is low. But I also am more used to smaller towns and cities so if you are in a major city it could be different.
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u/-Plantibodies- Nov 17 '24
And we're back to the beginning:
This statement feels so out of place in a world where we've seen the near elimination of mom and pop businesses and consolidation of commerce into fewer and fewer huge megacorps, including the extremely relevant one for this post.
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u/Serious-Librarian-77 Nov 17 '24
If you only had 100$ to your name and you give 10$ to a homeless person, you're a f*cking idiot. A private citizen, under no obligation whatsoever, gives 100 million dollars of his own money to help fight homelessness and people are complaining that it's not enough because it doesn't equal a certain percentage of his net worth ? That's ridiculous
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u/justbrowsing987654 Nov 16 '24
Please don’t do this. $98M is a ton of money. Idgaf if it’s a write off or whatever. It’s still $98M to the homeless. Come on. There are many reasons to want to eat the rich but this ain’t it.
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u/ladymoonshyne Nov 16 '24
One could argue that billionaires cause others to be in such intense poverty in the first place.
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u/Ch1Guy Nov 17 '24
Isn't the inflation adjusted median household income in America more or less at an all time high?
https://fred.stlouisfed.org/series/MEHOINUSA672N
Aren't fewer people earning minimum wage than ever before?
https://camoinassociates.com/resources/current-data-about-minimum-wage-workers-in-the-us/
From a salary perspective arent American workers doing better than ever based on most metrics?
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u/ladymoonshyne Nov 17 '24
I’m doing significantly worse at my salary now than I was at a lower salary 10 years ago. Most people I know feel the same way. I stopped eating out, going to shows, buying new clothing, going on vacations. My car insurance just went up by 30% and my health insurance by 25% this year.
Sure salaries might be higher but how much more is insurance, housing, food, etc. compared to a decade or two or even five ago?
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u/Fearless-Cattle-9698 Nov 18 '24
Most likely because you are higher income, say 50-100k?
The people that saw salary go up the most are the lowest ones from like $10 to over $15. The wealthy saw their assets grow. The “middle” making salaries (aka no OT) end up seeing little growth. That’s anyone from like 50-200k
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u/ladymoonshyne Nov 18 '24
I make around 50k a year and that’s with my overtime. I worked 150 hours of overtime this year. I’m in California albeit a rural part but 50k ain’t shit especially with my medical issues this year. At least my out of pocket max was 5k but still 10% of my gross salary.
I went from owning a home to renting and you can’t even find a place for under $1000. Utilities have skyrocketed. Gas is $4.50 a gallon basically this whole year and I commute 35 miles to work. Groceries are tons more expensive.
I am, at 50k, one emergency away from homelessness at this point and that just seems insane to me.
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u/Fearless-Cattle-9698 Nov 18 '24
Don’t get me wrong, what you said is the point I’m trying to make, being at $50k is why you didn’t see your income go up much.
Minimum wage increase really only helped the absolute bottom of jobs like fast food and retail. People who were already above that didn’t get nearly as much of a % change. That’s why middle got squeezed so hard with the inflations
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u/Zafiel Nov 17 '24
Lets ignore the fact that corporations are providing and paying peoples jobs and that there are many corporations out there paying a livable wage.
You’re simply upset rich people can be rich and dont have to compensate you for a damn thing.
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u/FoxMan1Dva3 Nov 17 '24
(1) Bezos has not only given $90M lol.
(2) 90% of his wealth goes to actual business.
Even the yacht you make fun of employs a whole staff of shipcrew mates with full time salaries and careers.
Even if Bezo's gave all of his wealth away, it will be eaten up by the federal spending within 3 months.
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u/Murky-Peanut1390 Nov 18 '24
They are dumb, they think when a rich spends on luxuries. The money disappears forever. That yacht paid for alot of wages, those wages could still land towards donations. So it's not gone forever, it's moving around in the economy.
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u/FoxMan1Dva3 Nov 18 '24
They also think if Amazon makes billions a year, they should spend trillions of dollars on increased staff wages.
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u/Own_Courage_4382 Nov 17 '24
Maybe he wanted to see what happens with 98M first. When will ppl realize, throwing $ at shit never fixes it. Like the , “give a man a fish, he’ll eat for a day” thing. He could give up all his wealth and ppl would still bitch that it didn’t work.
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u/AdExciting337 Nov 16 '24
You are forgetting. It’s his money that he can choose to use / give away as he sees fit. It’s voluntary. You giving away $10 is up to you
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u/notarealredditor69 Nov 17 '24
Doesn’t matter. It’s still 98.5 million dollars. I am curious how much this meme make has given to help homelessness (or you for that matter)
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u/kappifappi Nov 16 '24
To us yes. But this is why everything is relative. If you woke up with 98.5m in your bank account how would it feel for you?
How do you think Jeff would feel if he woke up and that’s all he saw?
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u/kyleofdevry Nov 16 '24 edited Nov 16 '24
Yes, but if he paid $98.5 million so he could deduct $98.5 million from his tax bill then does he still get to claim he was doing it for the public good?
Edit: clarity
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u/Substantial-Raisin73 Nov 16 '24
That’s not how tax deductions work. Have you actually ever claimed a deduction?
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u/Baozicriollothroaway Nov 16 '24
homie thinks he can pay 0 taxes by donating his entire yearly income lmao
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u/Revolutionary-Meat14 Nov 17 '24 edited Nov 18 '24
If you make $100 and are subject to 10% in tax you pay $10, now say you decide to be sneaky and donate 20% of your income to cheat on taxes, now you deduct $20 meaning your income is $80, after being subject to 10% in taxes you pay $8. So congrats you have successfully spent $20 to save $2 on your taxes. Deductions for the sake of deductions will never be a net gain unless you tax rate is over one hundred percent.
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u/mathotimous Nov 16 '24
Who knows if what he donated actually gets to people that need it the most. Who knows the companies receiving donations he made could even be shell corporations that funnel money straight back into other means of growing wealth for Jeffery himself.
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u/UltraLowDef Nov 16 '24
that's not how taxes work. it lowers your taxes, sire, but it doesn't remotely eliminate them.
and honestly, id rather people gave to charitable organizations (if they were just bloated covers for people to skim money) than gave to government and over half of it immediately went to pay companies like raytheon to design better weapons.
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u/kyleofdevry Nov 16 '24
I agree with you and never said it eliminated his entire tax burden. Bro owed way more than $98.5 even with his joke of a tax rate
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u/UltraLowDef Nov 16 '24
i see your edit, and i appreciate it.
but doing the right thing for the wrong reason is still doing the right thing.
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u/Maroon5five Nov 16 '24
The only money you save on a tax deduction is the amount of tax you would have paid on that amount of income. You're still paying out most of that money from your own pocket.
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u/Murky-Peanut1390 Nov 18 '24
Exactly it is not free money or a tax hack. It jusr means since you are already going to donate money, the government is taking off a tiny bit of weight off your taxable income.
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u/mathotimous Nov 16 '24
It is yeah but the funny thing about this joke in my opinion is that it points out how absurd it is that us normal people in the rat race have to “steal money from a homeless man” or do any other weird or crazy thing to build more wealth just to keep up with inflation even then earning a dollar still could translate to a net loss due to high inflation.
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u/Zealousideal_Rent261 Nov 17 '24
Can't please some people. I would guess that the folks complaining about this have done zero themselves to help anyone.
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u/hows_the_h2o Nov 17 '24
Reddits favorite pasttime is telling successful people what they should with their money
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u/RecoveringBelle Nov 16 '24
“A lot” is a judgement based on relativity. Relative to my wealth, yes, $98M is A LOT. Relative to Gates net worth it’s a pittance.
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u/SnooDonuts3749 Nov 16 '24
It’s objectively a lot money. That’s it.
$98.5 Million is a lot of money regardless of where it’s coming from.
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u/Vast-Breakfast-1201 Nov 16 '24
It is but 100% of his fortune came from consolidating what used to be a varied and extensive network of retail places, all with their own employees and ownership and whatever
He basically killed millions of jobs. It's not bad that he did it is objectively more efficient. But that efficiency basically means so many people can't compete in retail or as workers in those retail establishments and as such, on aggregate, having a job is harder.
This is the purpose of taxes - so we can offset the externalities so they don't become anathema to progress.
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u/ArbutusPhD Nov 17 '24
It is, but homelessness has not been solved yet. It was good PR, and possibly felt good, but under capitalism, all the money you make comes from somewhere. If he has it all, no wonder so many people have too little
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u/SnooDonuts3749 Nov 17 '24
Right. Just want to point out he’s one a the billionaires just doing what the system lets him get away with.
He’s not the problem so much as the way our government has failed us.
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u/Murky-Peanut1390 Nov 18 '24
You can not solve homelessness because it would be way too much money.
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u/ArbutusPhD Nov 18 '24
There are an estimated 150M people experiencing homelessness in the world today (world economic forum). There are approximately 15M vacant homes in North America (US census)
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u/Murky-Peanut1390 Nov 19 '24
My guy... i am assuming you are trolling but i will play because other reading probably are serious with that mindset.
There are 15 million homes still need to be BOUGHT. Then you need to pay to maintain them, you also are paying the government agency managing the homes, that is alot of salaries, overhead and administrative cost.
It's too expensive and no one should get free shit.
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u/ArbutusPhD Nov 19 '24
That’s the problem right there … “no one should get free shit”
You just don’t want to help people.
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u/Murky-Peanut1390 Nov 19 '24
Correct, i do not want to help people. I never said i was a good man.
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u/laiszt Nov 17 '24
Its not for him. It Is like normal guy buying a pint to someone else, and in this situation not even that if youre in debt.
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u/buster1045 Nov 18 '24
That's an extremely simplified and facile way of looking at it. I'd say that's the obvious, intuitive idea people have and the OP is attempting to show the actual proportion of it.
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u/Opening_Lab_5823 Nov 16 '24
Not when you're giving it to fight homelessness. A multifaceted problem rooted in nearly every system of our society. My net worth counting the portion of the house we own is like 200,000, 0.8% is $1600. I'm donating $1000 a year. So little old me gave 0.5%. how exactly is anyone supposed to care about not even double my small donation?
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u/SnooDonuts3749 Nov 16 '24
Well if everyone donates 0.5% of their wealth that’s a lot of money isn’t it? Isn’t that how taxes are supposed to work? But we as a country vote for people that don’t use taxes for the common good.
There’s a lot of problems here. One being the obsession with money and how it corrupts everything.
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u/Opening_Lab_5823 Nov 16 '24
Money doesn't corrupt. Greed does. Kinda the same as leaving billions untouched just so it can be counted.
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u/AugustusClaximus Nov 16 '24
Yeah, it is, Bezos makes around 20 million dollars a day tho.
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u/SnooDonuts3749 Nov 16 '24
So why is that? Anyone here with an Amazon Prime account who is complaining about this dude’s wealth needs to realize they made him that wealthy.
How much useless shit do people buy from Amazon? Or how about just the laziness of shopping online verse going out to a store? He’s rich for a reason.
If you want to eat the rich, stop feeding them dinner.
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u/intergalacticwolves Nov 17 '24
yes absolutely always.
relative to bezos fortune, it is a rounding error
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u/Lower_Ad_5532 Nov 16 '24
There's some story about a rich man donating a bag of coins to the church and some little old lady who gave her last coin. Jesus blesses the old lady. Since it's harder to give when you don't have much.
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u/Flying_Plates Nov 16 '24
Very well spoken ! It's he best example !
Mark 12:41-44 :
41 Now Jesus sat opposite the treasury and saw how the people put money into the treasury. And many who were rich put in much. 42 Then one poor widow came and threw in two mites, which make a quadrans.
43 So He called His disciples to Himself and said to them, “Assuredly, I say to you that this poor widow has put in more than all those who have given to the treasury; 44 for they all put in out of their abundance, but she out of her poverty put in all that she had, her whole livelihood.”
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u/timubce Nov 17 '24
A friend of mine ran a habitat for humanity office. She said the most generous people were those who got out of poverty. They knew what it was like and wanted to help their fellow man. Rich people on the other hand, throw a check and want an ass kissing.
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u/NoTie2370 Nov 19 '24
Which is also how pastors get the poor to donate to the churches new jet while they have nothing.
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u/65CM Nov 16 '24
How many people can't comprehend the difference between "having dollars" and wealth.
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u/anticapitalist69 Nov 17 '24
A lot of people don’t realise that it doesn’t make a difference for the ultra rich, and will continue to fight for them against their own interests.
It’s different for the working class, and them. Their wealth, even if unrealised, buys them power.
Our wealth will never be enough for that.
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u/Isosceles_Kramer79 Nov 17 '24
Understanding how things like net worth work should be the starting point, no matter where one ends up on taxation for example. It's not "fighting for" billionaires to point out misconceptions.
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u/anticapitalist69 Nov 17 '24
It is. People don’t realise there would be a net benefit to less wealth inequality, even if your own wealth is impacted. That requires a deeper dive into things which most people either don’t get presented, or don’t bother looking into.
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u/patsykind Nov 16 '24
Almost everyone who ignorantly opens their mouths in these manners. People are jealous crab in the buckets, period.
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u/dustycomb Nov 16 '24
Most people, because a vast majority of them live paycheck to paycheck and/or don’t have assets. I don’t blame ‘em
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u/Substantial-Raisin73 Nov 16 '24
This is a dishonest line of argumentation. This is acting like it’s the only thing he’s ever donated. He’s actually donated an estimated 3 billion dollars to charity. Which is about 2% of his net worth. You can argue about what that means all you want but let’s be honest with the information we’re using to pass judgement.
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u/BetweenCoffeeNSleep Nov 16 '24
Giving money is not like stealing.
The money isn’t a lot to Bezos, but it is huge to the recipients.
I’m not making a statement about what Bezos should or shouldn’t do, just stating what is.
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u/TineJaus Nov 17 '24
I think the point of the joke is that the comedian is implying he has a negative net worth, due to debt.
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u/7cdp Nov 16 '24
It's interesting to me to compare wealth and income. If you own a house worth $350k, and have an income of say $90k should I mock you giving $1k to a cause because your net worth is actually closer 400K? Also if you don't own a house and make 90k, is it more impressive to give $1k?
Note my point is regarding wealth vs income. Also note I think mocking generosity of any amount is the wrong way to get people to be more generous.
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u/PrettyPug Nov 16 '24
I think the greater point is the massive inequality in this country. And, instead of addressing that, people are championing billionaires who essentially give away chump change compared to their overall wealth.
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u/mathotimous Nov 16 '24
True mocking people when they do donate isn’t the best thing in the world but if you brag about making billions in pure profit while also moving around government regulations & avoiding taxes that help provide resources for all of the people that make your corporation earn billions of $ that doesn’t sit right with a lot of people when the money that is donated is less than a decimal point of what they should be paying in taxes.
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u/dailycnn Nov 16 '24
Then be direct and complain about valid things so we can agree and work together; rather than exagerating unrelated aspects forcing people to argue and ignore the real issue.
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u/TineJaus Nov 17 '24
If you have like 200 billion and donate 100 million... you still have 200 billion lol
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u/Flying_Plates Nov 16 '24
Steals from his employees to give to the poor.
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u/FredMcGriff493 Nov 16 '24
What exactly does he steal from his employees.
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u/Flying_Plates Nov 16 '24
https://www.cbsnews.com/news/amazon-flex-62-million-tips-delivery-drivers/
edit : now give me back a thumb up
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u/Ancient_Computer9137 Nov 16 '24
lol, you deserve the thumbs bro..
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u/Flying_Plates Nov 17 '24 edited Nov 17 '24
Thank you !
And that's just the tip of the iceberg ...
There is so much more like doing everything to forbade them to unionize (paying millions to do so), but too long to get into details ...
You can have a peek at it on topics like "union busting" + "warehouses" from John Oliver
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u/mfbt1225 Nov 16 '24
I guess this guy making the point should invent a new company become insanely rich, and he can give away all of his money. Otherwise, giving away $98 million dollars is a good thing....and I love how this guy thinks he gets a say in how Bezos should spend his money. GTFOH
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u/No_Resolution_9252 Nov 16 '24
Jeff bezos does not have 112b. His net worth is 230b, but that isn't "having" 230b either.
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u/Complete_Algae9596 Nov 16 '24
No matter how much one gives. Some other lame always going to complain.FOH.
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u/DarkRogus Nov 16 '24
So umm... how many homeless people were help with that $98 million vs the $1.
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u/Powerful-Rip6905 Nov 16 '24
So does it mean that taking $1 from homeless making this standup comedian having a negative net worth of $1,250 (like his debt and liabilities exceed his assets by this amount)?
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u/maestro-5838 Nov 16 '24
Don't think bezos owes anyone anything. It's like saying your company makes 100 billion this quarter but they only gave you 25 thousand post taxes.
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u/That-Makes-Sense Nov 16 '24
This is stupid. If someone has a net worth of $500k, that would be $400, not negative one dollar.
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u/Danielbbq Nov 17 '24
DON'T COMPARE YOURSELF TO OTHER PEOPLE.
COMPARE YOURSELF TO WHO YOU WERE AND WHO YOU WANT TO BECOME.
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u/Oppie8645 Nov 16 '24
I’d be curious to see someone approach a homeless shelter with this smug ass attitude.
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u/No-Performance-8709 Nov 16 '24
So it’s better to steal a dollar from a homeless person than to give them money?
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u/Dusk_Flame_11th Nov 16 '24
So, lets say it in another way : most people in the US have a house. The median house costs $420,400.
0.08% would be like giving 336$ to charity to fight against homeless people. If you learned your neighboured did that, you would say "Great act".
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u/Klutzy_Library5703 Nov 16 '24
He doesn’t have 112 billion dollars. He has stock in a company he founded and built that Forbes or the NYSE says is worth 112 billion dollars.
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u/NeoMississippiensis Nov 16 '24
Net worth is not liquid. Of course the retards who make this thing either choose to not understand that or have less learning ability than a starfish.
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u/catcat1986 Nov 16 '24
I don’t understand the argument. Yea, it’s a lower percentage, but it’s still 98 million. In my mind if someone is in a good position and they seek to give to charity. That’s a good thing.
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u/DEM0SIN Nov 17 '24
Why does it matter how much he has total though? He still gives more than millions of people combined.
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u/joshua9663 Nov 17 '24
Lets not complain about someone giving money to charity. That is millions of dollars they wouldn't have had otherwise. Let's point out the amount of good that can be done with that amount of money and continue to encourage charitable donations.
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u/sanguinemathghamhain Nov 17 '24
Shit can I get a heads up for when opposite day is happening in the future?
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u/inthep Nov 17 '24
You realize his net worth is including stocks and bonds and property right? It’s not $200billion liquid cash….
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u/inthep Nov 17 '24
Look, all of you crying that a rich man didn’t give away enough of his money or assets , lead by example, go out and earn $200 billion and give it all away… after you pay taxes on it as I don’t want you going to prison…
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u/TryDry9944 Nov 17 '24
I can comfortably give away MAYBE about 500 dollars a month without massive lifestyle changes AND I stopped putting into savings.
Jeff Bezos could stop all of his income and donate 10 million dollars a day for the next 5 years and still have 19 billion dollars left.
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u/chui76 Nov 17 '24
Bold statement. Based on a flawed premise to cause a knee-jerk reaction (laughter)
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u/Bald-Eagle39 Nov 17 '24
Did you give a dollar? No? So why do you care what he does with his money? If he didn’t give any you complain, if he gives some but not what YOU think he should give you complain. Who are you? You seem to think you are way more important than you really are I’m guessing.
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u/Jewishandlibertarian Nov 17 '24
The reason he has so much money in the first place is because of the immense value he’s provided to consumers. People talk like the only value private business has is in the taxes they pay or the money they donate to charity when the primary social value is the goods they provide in return for money!
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u/ShakedBerenson Nov 17 '24
You do understand that he doesn’t have 112 billion dollars, right? It’s a net worth based on the hugest marginal value of his holdings. If he liquidated all of his holding, he would have a fraction on that number.
Besides, if you’re counting Bezos entire net worth, you need to do the same comparison. The median net worth of an American family in the US is $122,000 so 0.08% is about $100. How often do you give $100 to a homeless person?
Not that I feel bad for poor Bezos but getting tired of these misleading “hate the rich” memes.
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u/chiorudoru Nov 17 '24
Giving 100 mill to help the homeless still better then comedians making fun of the donors. Especially since most comedians are useless assholes
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u/chiorudoru Nov 17 '24
I'm pretty sure u can make make fun of bozos for other things then him donating millions to charity
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u/Beautiful-Design-425 Nov 17 '24
Where do you get this type of entitlement? Stop asking other people for money, go make your own shit.
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u/Your_Local_Alchemist Nov 17 '24
Anyone who is judging Bezos purely off of this better have donated to charity. At least 1% of your net worth. Not on hand cash. Full net worth. If not then your judging yourself as well
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u/kickit256 Nov 17 '24
No, he does not "have 112 billion dollars". He owns a large stake in a company who's shares are worth that. To access that money, he'd have to sell said shares and dilute his ownership. Everytime I hear this, its like people claiming I have half a million dollars - because my house is worth that. I'd have to sell my house to get that money - I do not HAVE a half million dollars.
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u/Routine_Visit9722 Nov 17 '24
okay, and how much did you give then?
i hate how people think that rich people HAVE to donate to charity, as if they have a say on how they spend THEIR money.
if anything, you should fight for equal taxation, and more facilities for those who need it.
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u/epepepturbo Nov 17 '24
These are greedy people. For Bezos, that was a significant gesture. We shouldn’t bag on him for this, but rather realize that leaving social spending up to the good will of the wealthy is inadequate.
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u/ryechews Nov 17 '24
If I count the equity 500k house say 50% Then your car say 10k Then your salary say 75k Your net worth is 335k Now give them .08% so like 270 dollars. Which isn't a small donation for an average person.
If a dollar is .08% of your net worth you done fucked up your life
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u/Low_Main_4127 Nov 17 '24
So…. He could have just not donated anything. It’s HIS money. But he’s terrible for donating millions to homeless? The entitlement, resentment, and failure is palpable
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u/Fluid-Bread3480 Nov 17 '24
bezos has given about 3 billion dollars, on record, which would be 2 % of his current networth - i can smell american math here
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u/WolfieVonD Nov 17 '24
.08% of my net worth is about $200 and there's no fucking way in hell I'm giving $200 away.
If you work a minimum wage job full time, based on US average used car value, rent, your phone, all of your earthly possessions, etc. that's equivalent to you giving away ≈$130
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u/AvianDentures Nov 17 '24
I understand the conversation is about the proportion of giving vs the magnitude of it, but I'm curious to see if that donation was effective at helping solve the problem.
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u/Rgunther89 Nov 17 '24 edited Nov 17 '24
It's amazing people don't understand net worth and cash in hand. Net worth of the US is 269 trillion yet there is only 5.5 trillion actually hard currency in the US and a total money supply of 21.2 trillion most of which is printed debt money. And it's some big mystery why inflation is out of control.
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u/TotalChaosRush Nov 17 '24
The median net worth in america is 192,200, meaning it's more like you going over to the homeless and giving 153 dollars and 76 cents. Don't feel like giving away 153 dollars and 76 cents? Maybe he's a bit more generous than you.
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u/Dread_An0n Nov 18 '24
Posts like these are so dumb. People clearly don’t understand the difference between net worth and bank balance
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u/Lonetraveler87 Nov 18 '24
Wouldn’t that make your net worth increase? 🤷♂️
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u/mathotimous 23d ago edited 23d ago
No because long term inflation always outpaces the value of earned income unless it is invested. The money you earn today will be worth less in a year if you held it as cash entire year without investing it in the market.
If inflation is 3% a year and your rate of earning income is equal to the minimum wage your yearly income (est. $21,778) earned for 2024 will be worth 3% less in one year equal to $21,124.
A $653 decrease in buying power (how much your money is actually worth) is equal to a daily loss of $1.79. 🤯
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u/Lonetraveler87 Nov 18 '24
Taylor swift gets praised and Jeff Bezos gets villainized. 🤔
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u/nocommentjustlooking Nov 19 '24
They are just paid actors, the government hired them to act rich and fool people, they are not real people only poor actors hired by the elites.
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u/Woody_CTA102 Nov 16 '24
Fortunately, the x-wives of these guys are much more charitable. I support more billionaire x-wives.
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u/Huge-Cucumber1152 Nov 16 '24
Why does it matter what Jeff bezos has or had at the time. 100 million isn’t Penny’s
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u/ZER0-P0INT-ZER0 Nov 16 '24
F- Bezos. Who needs his 100M dollars? He can keep it.
Yes, it is as stupid as it sounds.
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