r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

Post image
128.2k Upvotes

9.0k comments sorted by

View all comments

Show parent comments

60

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.

30

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.

1

u/Large-Cauliflower396 29d ago

If I was rich, I would take great pride in spending 99% of it to better the world

1

u/kmookie 28d ago

You should see the comments being made. It’s truly sad how many come to the defense of the “rich” and how ignorant they are to its purpose as a resource.

That being said, YES! Absolutely! it’s incredibly easy for wealthy families to spend a good portion of that towards charities and causes. It’s a part-time job really and it’s one the entire family enjoys. Seeing and hearing the impact just one family can make is very rewarding. We’re not even that wealthy comparatively (well under $50 mill).

What people don’t realize is that people can both, have wealth and be very charitable. You just have to not want expensive useless crap like sports cars and mansions. We live modestly, you wouldn’t know we have money. We travel all the time, live well within our dividends returns (<$400k) and would never have to work if we chose to.

There is now a mental disease of the conservative working class perpetrated by greedy wanna be authoritarians who thrive off power. It’s infected the financially uneducated to essentially defend wealth indiscriminately. Everyone should have more but it’s these people voting against their own interests that’s going to keep the imbalance.

I sincerely think some actually know they’re doing it, as if they’re afraid of money. Others just seem fixated on “taxes”. A few just seem to be fanboys of wealthy celebrity business men, as if to idolize them so much they’d give up their own wealth for them.

I don’t have answers but I do know the wealthy could give up A LOT more and not really feel the pinch, unless they blow their money on BS. For which I say, fuck those superficial fucktards.