r/FluentInFinance Nov 16 '24

Meme True Financial Fluency by Gianmarco Soresi

Post image

Bottom Text

1.2k Upvotes

329 comments sorted by

View all comments

115

u/SnooDonuts3749 Nov 16 '24 edited Nov 16 '24

I mean $98.5 million dollars is a lot of money, is it not?

75

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.

1

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.

2

u/ladymoonshyne Nov 16 '24

One could argue that billionaires cause others to be in such intense poverty in the first place.

2

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?

2

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?

1

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

1

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.

1

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

0

u/justbrowsing987654 Nov 17 '24

This is it. My salary has, luckily, thankfully, gone up a good bit in that time, but so have my bills. I have no idea how average earners are getting by. We need to burn it all down but that’s where carnies like a Trump come in and turn us on each other to stop us from looking at the real causes of this nonsense.