That is only true when there are money on the sidelines. Now everyone is in.
I am getting calls from relatives and friends who never invested asking me about AI stocks and SpaceX.
Also those who fund managers worry about a pullback aren't selling. Because if they sell and music keeps playing - they will get fired.
They all will sell when markets start a downtrend and they are hit with redemptions.
@DannyPSykes At 45% you still can. Now let's make food and housing human rights. Right away you need to tax the rich 75-80%.
What do you think will happen next?
Where is the government is going to get all those money to provide all the free things?
Currently taxes in EU approaching 60-70% while housing and food is not covered. If you make food a human right and housing (why not?) - then you will have to raise taxes to 90%.
Who is going to invest when the worst case is you lose all your money and best case is your company is profitable (10% chance of that) but 90% of your income is taken away.
Do you think there will be anyone trying to create a company? So you end up with the government running everything.
Worked so well in USSR, Cuba and North Korea.
But I know, new generations of communists will make everything work perfectly. But even if it doesn't and there is not enough food to survive - at least there won't be those evil billionaires and millionaires who make your working class life so miserable.
Yes, majority will do nothing and do some side gigs for cash to get pocket change for entertainment.
If you try to implement that system and pay top money for dirty work - those people would become 'rich' since they will be the ones making the most money and you will tax them.
Nobody in his right mind would do some dirty work 40 hours a week only to be taxed 90% when they can do some gigs 4 hours a week and make the same.
But I understand that talking about second order effects with a child or an idiot (since only grown up idiot can believe in socialism when it failed everywhere) is fruitless - so keep dreaming about your perfect utopia. Maybe one day you grow up.
Housing, healthcare and food constitute 90%+ of average person spending.
No one in his right mind would want to clean cow manure for 8 hours a day in order to have extra pocket money. Would you? I bet you wouldn't. But in your utopian world people would be happy do that, right.
That's why your system will never work in real life (unlike in utopia where everyone is so altruistic they only care about common good and happy to clean manure their whole life to provide others with free everything).
So if everything is human right and 95% of your expenses are provided to you - majority will just sit at home and do some gigs on the side to make extra money. So where will the government get the money to pay those few who decide to do the hard work? By taxing those who work.
So not only someone has to clean manure every day to provide you with free everything, but their income will be taxed heavily to provide you with that everything.
But of course, in your imaginary world - majority will be happy to work hard to provide for their neighbors who just sit at home and get everything for free since its their human right.
How old are you? 14?
@DannyPSykes@l33veal@Gabbar0099 Why would anyone want to do a very hard work growing food or clean cow manure when they can just sit at home and enjoy their human rights of free food, free shelter and free healthcare?
And every poor black family is also getting free housing, free food and free medicine.
But asian kids get good grades and go to colleges and end up making $100k+ a year, while their black classmates can barely read.
Again, how come that white supremacy manages to keep black kids down?
And please stop with that business loans nonsense. 95% of business fail anyway. There are 100 times more white collar jobs that there are successful businesses that bring same income.
@DannyPSykes@l33veal@Gabbar0099 If you have a right to food means someone becomes your slave and has to grow that food for you. And if that is the government who enslaves - doesn't change anything.
I understand it's difficult for a socialist to understand such a complex issue as freedom.
@Jesse_Livermore "What we know now".
What we know now is which of the 100s of companies that went public became successful 20-30 years later.
Now do the same for some other companies that had IPO in 1990s but didn't survive to see their P/S to get below $10.
Ok, 70 years ago bad things happened and that is the reason you are still dirt poor.
Now explain how Asians come with no money, don't speak any English and within 1 generations they are making more money on average than whites.
Where is that systemic racism you keep talking about and how come white racists couldn't hold asians down?
Because asians value education. Which is 99% of the success. And 1% is white privilege.
But you keep focusing on 1% and keep avoiding the elephant in the room.
Well, it must feel much better blaming the system than yourself.
Generational wealth? How much money is that?
$500K? A million?
Why don't you want to admit that getting an education is the fastest way to achieve financial success?
Getting college education can get a someone a good paying job and if that person does a good job - he/she can be making $100K in several years.
And if working for someone is such a big no-no, then that person can save some and start his own business.
But for some reason you dismiss education. Why is that? Is it because that destroys your whole argument that blacks are held back by some mystery racism?
What systemic racism prevents black kids from learning in school? Racists teachers? Racist principals?
That argument about systemic racism is also getting tired. Because people go to work and know that any mid and large size corporation would hire any black as long as there is a chance he can do the job even if there is much more qualified white candidate. And everyone knows that a black coworkers won't get fired even if he/she does a subpar job.
Gosh, in my previous job (in an office) there was a black guy who would take a nap in his cubicle on many occasions and who wouldn't do any work at all except some easy tasks. Anyone else would be fired the next day, but the guy was working there for years.
In my previous job they hired a young black guy and after a year he would be still messing everything up and someone else would have to either babysit hime or redo everything he did. Again, nobody wanted to fire him.
That's why when I hear about systemic racism - I am also getting fatigue.
@PhillySports_V@thisshowsucks00@jdmiles11 Everyone understands majority of black people don't behave like that. But most everyone had to deal with those people once in a while. What does it have to do with anything?
The simple fact is that getting an education is more than enough to get out of poverty.
Lets' talk about that kid who gets beaten every day for trying to get that education. Who prevents him from getting a good education more: other black kids beating him up daily (because they think getting education is behaving white) or some mystical systemic racism?
And even if that is true and it is more difficult to get grants, getting an education opens millions of job vacancies that pay more than small business would get you. And every corporation bends backwards in order to hire any black pEvery corporation bends backwards in order to hire any black person who is can barely do the job.erson who is can barely do the job. And that was even before DEI was forced on everyone.
So why not fisrt address the elephant in the room (black culture that discourages blacks from getting education, getting good work ethics and being polite because all those things are 'behaving white) before blaming everything on some mystery systemic racism that no one can put a finger on.
@PhillySports_V@thisshowsucks00@jdmiles11 I was reading about a black kid who was constantly beaten up by other blacks because he was studying and getting good grades.
Is this also because of systematic racism (aka whities' fault).?
@youngforever704@Topdogbites@EricLDaugh At which point while looking for a fight and refusing to leave was AK fearing for his life so much that he had to kill?