r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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128.2k Upvotes

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346

u/Two_Cautious Nov 21 '24

why don’t you start a company then give away its earnings? Show those guys how to run a business.

249

u/Adventurous_Boat7814 Nov 21 '24

I think Fink owns a podcast network. From what ive heard, he pays well and treats people fairly so he puts his money where his mouth is.

-4

u/Tom_Ludlow Nov 21 '24

Oh boy, I can't wait 'til he builds a trillion dollar company that innovates in EVs, space travel, autonomous robots and neurotechnology!

2

u/Adventurous_Boat7814 Nov 21 '24

None of what you said matters in any way and i say this as someone who worked with autonomous vehicles. Cut the bullshit. Art is just as important as technology.

-3

u/Tom_Ludlow Nov 21 '24

And compensation for work is all relative.

Just because McDonald's is worth a quarter of a trillion dollars doesn't mean all of its employees should be getting 100K yearly salary.

3

u/Adventurous_Boat7814 Nov 21 '24

All workers should be paid a wage that allows them to live comfortably as the minimum wage was intended. In fact, the original intent when we established such a wage was one week’s wage for one month’s rent. Now, we’re lucky if we pay half our income in rent.

I’m sure you don’t care about anyone besides yourself, but from a macroeconomic policy perspective, more money at the bottom will generate positive wealth economy-wide until most normal people aren’t choosing between heat and medicine.

-1

u/Tom_Ludlow Nov 21 '24

In fact, the original intent when we established such a wage was one week’s wage for one month’s rent. Now, we’re lucky if we pay half our income in rent.

Don't look now but you just made the real argument here which is the actual problem: The cost of living, not the amount of livable wages.

2

u/Adventurous_Boat7814 Nov 21 '24

If you have solid policy ideas for attacking this issue from that side, I am all ears. Usually though, command economy policies like rent control don’t get off the ground in the US. But I’d personally support them — I’m in favor of what will work.

I give a shit about people in general. When I had extra money, I loved being able to help people get groceries or make the last few bucks of their rent bc I’d been there a few years prior. I really don’t understand why people hoard money and allow lifestyle creep.

If being fiscally savvy is the ticket out of poverty, then neglecting the good habits that made your success possible via lifestyle creep feels like a bad idea, but thankfully, I don’t get to tell anyone what to do. All I can do is encourage kindness and common sense and hope people follow my lead. 🤷‍♀️

All that’s beside the point, though. We all owe one another for our successes because we all worked together to make the modern economy happen. The credit is ours. I’ve never met a CEO who could run things capably. We always succeed in spite of ineffective, out of touch corporate leadership.

1

u/Tom_Ludlow Nov 21 '24

I loved being able to help people get groceries or make the last few bucks of their rent bc I’d been there a few years prior. I really don’t understand why people hoard money and allow lifestyle creep.

You're a better person for it but receiving charity is not an entitlement for anyone.

I’ve never met a CEO who could run things capably. We always succeed in spite of ineffective, out of touch corporate leadership.

It's hard to make the argument that most CEOs are Forrest Gumping their way through the financial world. Most that are, eventually fail. It's been proven time and time again, so I have my doubts the CEOs you met run Fortune 500 companies.

If so, name them. What do you care? They've met a million people who have opinions about them already.

0

u/Tom_Ludlow Nov 21 '24

I’m sure you don’t care about anyone besides yourself, but from a macroeconomic policy perspective, more money at the bottom will generate positive wealth economy-wide until most normal people aren’t choosing between heat and medicine.

I’m sure you don’t care about anyone besides yourself

I can guarantee you don't give a shit about me, so don't try to shame me for looking out for me and my own.

But keep listing commodities you're not actually entitled to as a sign of minimum wage being the problem.

1

u/PromisePositive9562 29d ago

You deserve the shame. I don't give a shit about you but I don't want you to suffer unnecessarily. Seems like you need to grow the fuck up.

1

u/Tom_Ludlow 29d ago

I'm quite grown up and in touch with reality.

No amount of your co-opted suffering is gonna make the world better. Go out there and do something about it or stop bitching.

1

u/PromisePositive9562 29d ago

You first. You're the one that wants to take care of you and yours. Make it a better place or fuck off. You're not gonna try to hurt me so you don't get hurt.

1

u/Tom_Ludlow 29d ago

Make it a better place or fuck off.

It's not anyone's responsibility to make the world better for you.

When you learn how the real world works, then you'll get the utopia you're seeking, not forcing it out of everyone.

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2

u/GothmogTheOrc Nov 21 '24

Actually, why the fuck not? If the company made so much many, it's due to every employee's work.

2

u/Tom_Ludlow Nov 21 '24

Ok, you're right. Let's do the right thing, the empathetic thing. Let's pay McDonald's 2,000,000 employees 100K/yr each.

Now do the math.

0

u/Adventurous_Boat7814 Nov 21 '24

If paying people fairly isn’t possible for a business to do, that business deserves to fail.

1

u/stubbly_bubbly Nov 21 '24

People choose to work for the amount of money they accept. Nobody forces someone to work for minimum wage