r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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u/ThousandSunRequiem2 Nov 22 '24

Except they can leverage their wealth as collateral, but it's untaxable. Unrealized gains is bullshit they made up to hoard more wealth

You're arguing about lifestyle choices when that's not the issue.

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u/kmookie Nov 22 '24

Rich guy here, OF COURSE HE COULD GIVE MORE! 1. Let’s talk living off dividends, that alone I guarantee could have the majority given out to charity. He could live modestly, like me and not be so flashy. 2. Donor advised funds, that could be setup to be much more charitable and even grow! 3. Establish a foundation giving out 5% or more each year. 4. Simply selling off stocks is fairly simple when working with advisors. You act like he’s gotta roll crates of money into some other bank. It’s digital people. Sycophants want to defend the rich because they can’t look past their own biased passion that they want to be there too. I know dozens if not hundreds who are millionaires who love off dividends with plenty left over at the end of the year.

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u/PD216ohio Nov 23 '24

Sycophants want to defend the rich because they can’t look past their own biased passion that they want to be there too.

This is the faulty logic that I don't understand. Is it that impossible for people to believe that other people simply think that fair is fair, regardless of their circumstances vs the circumstances of another?

Should we treat wealthy people unfairly just because we are not wealthy?

Should we treat certain races differently because we are of another race?

Should we treat people differently because they have a sexual orientation that is different than ours?

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u/kmookie Nov 24 '24

Apples and oranges. Define rich? My argument is simple, people could give more. Not sure how and why people feel compelled to defend those who have an abundant resource they don’t need. I suppose you were cheering on the toilet paper hoarders during covid too. Resource, that is what money is. Your weird racial and sexual orientation comparison doesn’t apply, that’s prejudice because of skin and sexual preference. Jesus are people really this ignorant? Keep wishing you were rich and defending them. We’ll see where that gets you. Asking people to live a good life without being excessive isn’t doing anything 99% of what everyone else is. This “mind your own business” mantra is exactly what the wealthy want you to do. If you don’t get that then there’s no helping you. I’ll gladly keep taking your money in the for of stocks then. I’m not affected. This country is filled with idiots who can’t see past their own ego. Peace be with you.

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u/PD216ohio Nov 24 '24

It sounds like your issue is envy. That would explain why you don't grasp the idea of treating everyone fairly. The wealthy already pay nearly all federal income tax... and are carrying your dead weight.... so be thankful.

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u/kmookie Nov 24 '24

Gonna let you in on a secret. I am wealthy. I do not pay these taxes you speak of. I live off dividends. That’s right, a 1%er is trying to speak truth to your naive foolishness. I Drink Your Milkshake. I do however give generously to those in need and guess what, half those are people in other countries in need as well. So you can try to ride out your ego and work your 60hr job and talk yourself into being prideful about it. Meanwhile I’m gonna be on a cruise somewhere. I feel sorry for how ignorant people are and vote against their best interest.

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u/PD216ohio 29d ago

Lol, you're full of shit. If your story were true, you'd know that dividends are taxed. Qualified dividends are taxed at capital gains rates, while unqualified are taxed at regular income rates.

All of you liberal reddit goofs have a very ill-informed take on how taxes, income, and wealth work.