People are lazy...stop complaining and open your own business

Well that's a crass way of putting it but you're right. A lot has to do with how your raised and if what you are taught about money.

Look at your parents... you are looking at your future if you don't change how you think and what you do.

The middle class teach their kids to go to school to learn how to work for someone else. Angry parents teach their kids they are victims and are owed. The kids will continue the tradition unless they reject this thinking. The rich teach their kids about business and investing, making money work for them, investing to increase net worth and produce passive cash flow.

Sure, the rich may have a head start and the middle class must earn our seed money, the poor have very little if any chance of getting out because they can't / won't work.

The middle class may try by working OT or getting a second job but the problem is the more you make the more the government takes, our progressive tax system (taking a higher % off top end of their money, like getting a pay cut) making it harder for the middle class to keep their money to grow wealth / produce a passive cash flow.

 

People simply had to "grow up sooner", last millennium. I believe we should let the children play as long as possible; we already know they won't get away, any time soon.

 

It's worse Dware..... the snowflake generation who are and will be living with their parents will take even longer to grow up because they are living with their parents. When mommy and daddy pay living expenses and put dinner on the table, why should they grow up? They continue to put financial strain on their parents,

If they do live on their own they could still be sucking off their parents. I know a couple who constantly hit their parents up for money and could care less about the parents needing that money for their elder years. Now that the parents are old and need help doing things they can not longer do, they don't lift a finger.

 

It's not just parents, but also the type of friends you associate yourself with. If you hang with people who practice the, "TGIF" attitude, you're gonna end up with people who have that "TGIF" attitude. You hang out with millionaires and business people all the time, that ethic will rub off on you, and you'll be a successful business person AND a millionaire. My signature saying has meaning. Elitism is Love, Elitism is Life. It really does give you perspective though. Poor Dad teachings are in the school system, and in most middle class households. Get good grades, go to school, get an good education, work for someone else, and hope to get promoted. You could say the run-of-the-mill, poor teachings are the hallmark of becoming part of the middle class. Not enough people take in, Rich Dad teachings. I would not necessarily go blaming the progressive tax system. I would be willing to pay out a bit more in taxes if I were put in the position of paying off a 50 million dollar house in cash.

 

I don't think it's rubbing off, we make friends with people with the same mindset. If someone has a no can do victim mindset they attract others with the same mindset. The same with the middle class mindset (go to school to learn to work for someone else) and the rich mindset (invest, build net worth and positive passive cash flow). People think the rich are snobby but that's not true. It's simply wanting to be around like minded people. As I was moving up I learned that the rich want to help people but they have no interest in teaching people who will give excuses "why they can't".

 

I was watching a video on YouTube about jackals. They have to live life in the fast lane due to a six year life expectancy.

 

As I said, if the poor teachings are to become middle class they don't understand that for many middle class isn't really living the life of luxury or the good life. They do it by getting into debt, trying to act rich instead of building wealth. The poor think they should live the same lifestyle don't understand that they'll never live the lifestyle on government handouts.

As the middle class become more successful they buy liabilities (something that takes money out of their pocket) and they get caught in the rat race. The rich buy assets that produce positive cash flow.

 

My favorite of Rich Dad's teachings is Cash Flow Quadrant. I also like Midas Touch by Kiyosaki and Trump which teaches how to move from self employment to a true business status mindset where you hire employees, experts (big difference).

As simplistic as Rich Dad teachings are, there are people who can't get out of their own view of the world be it being owed or working for someone else, to learn and will attack their writings. I disagree, I'm proof that changing mindset really matters. I have to wonder if people want some kind of magic without effort on their own.

 

You had many points in one post and I'm addressing in different posts.

The progressive tax system is part of the reason keeping the middle class down. Why do you think the rich hire an army of tax attorneys?.... To reduce taxable income, ie... keep more of their money! If government didn't want that they wouldn't allow the deductions in the tax code.

Worse, the left wants the rest of us to give our money away yet claims they care about the little people. The left believes any income above paying for basic living expenses is excess income and is ripe for funneling to government.

"It takes money to make money" The rich already have their money, they don't depend on "income" to build seed money like the middle class does. The middle class must make a high enough "income" to pay expenses plus make excess income to build seed money, what happens as your income increases? You pay a higher % of the top end. It's like taking a pay cut.

It's amazing that people don't understand that just because you made a high income "this year" doesn't necessarily mean you are rich. It's documented that most people do not stay in the 1% income level so they better save as much as possible while they can. Again, instead of allowing you to keep your money, government wants a bigger cut.

Two steps forward (higher income), one step back (taxation).

 

The republicans have supported cronyism for years. I'm not sure how you've convinced yourselves that the democrats are solely responsible for this. Conservatives and liberals who loyally vote for their parties have been selling the country out for years, albeit unknowingly in most cases. That's why both groups are obsolete.

 

Both are but right now we have a democrat that didn't make it better and we can choose another Democrat, Hillary who is the epitome of crony capitalism and wants to raise taxes or we can choose Trump, an unknown who said he will blow up the system.

The system works for politicians and big business and they will do everything they can to prevent Trump, if you were them, wouldn't you try to prevent him from stopping your gravy train?

 

capitalism requires adequate circulation of capital. it is why a fifteen dollar an hour makes sense, to put more money into more hands to stimulate demand.

 

Well, I will never vote for Hillary, so there's that. As for Trump, I'll probably show up and vote for him, but if he's lying about what he says he'll do...

 

It takes both but in this hostile business climate "you didn't build that"... you bit the hand that pays you. Many people opted to hoard (reduce the velocity of money, reduce circulation).... building as much seed money (wealth) as possible and then we too can control (reduce) income since Hillary promises to raise taxes again.

Get Democrats off our asses and I will gladly spend money and increase velocity of money.

 

dudette, if you think private charity covers multitudes of private sins, public charity covers multitudes of social sins. why bother complaining if they are willing to work for it, at that rate? Should we also have to care about how much any given CEO's bonus is.

 

Oh I agree. I hope he doesn't become one of the good ole boys crony capitalist club but they'll try their damnedest to turn him.

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dude, stop depending on government and charities.

stop complaining and open your own business

 

dudette, the right has their Ten Commandments, why is there still so much crime? Shouldn't crime Only happen from the left.

Platitudes are just that, dear. Why not acquire and possess, a clue and a Cause.

It merely takes money to make money. Fifteen dollars an hour makes that happen sooner, rather than later.

 

Oddly enough, Kiyosaki protests against the idea of saving, rather encourages the act of hedging.

The thing about government handouts is, I believe it has become abused. When I think of government handouts, I think of a bumper on a bowling lane. Your life is the bowling ball, bouncing back and forth in turbulent times, the bumper to keep the bowling ball (your life) from going into the gutter is government handouts. Welfare has become abused, and has been given a bad name. Instead of a bumper, it has become more of a shortcut. I don;t believe in eliminating government assistance, such as welfare or social security, the bowling lane just needs to become better managed (and that doesn't necessarily mean smaller government either).

The problem with that kind of magic is they think of people born into wealth, or born into a family with a particular surname, like the Jackson's. I don't believe in monetary inheritance, nor do I believe people should be fed with a silver spoon, or have a advantage over others because of last name recognition. It is the injustices of being born into the elite. To become a legit elitist, you have to become part of the elitist class yourself, and only yourself. Being a elitist is not necessarily a bad thing, ti's only bad when people are given a free pass based on the reasons I outlined. My Dad always talks about, "I wish I had this," or "Only if I could afford this." My Dad wasted his 20's, going into his 30's, solely on education. Those degrees will be absolutely meaningless, a waste of money, valuable time, and energy, if you don't have anything big to show for it (which, by the way, being part of the elite class owes up for). It's because my Dad uses earned income, not "capital gains" portfolio income, or more desirably, passive income. My Dad even talks about never being able to retire, all because he has a Poor Dad mindset, and a TGIF Mindset.

Just because its Friday does not mean people should stop, turn off the turbines in their heads. They should be working as hard on Sunday, as they do on Monday. Whether that's working in the studio on a mix, or making another business deal. It's sad really, the pathway my dad and mom have gone down, all because of the Poor Dad ideology that has been passed down from earlier generations. Time has been wasted, nothing is shown for it, and all my mom and dad have by following that ideology, is a pile of dirty laundry called regret. And I'm realizing all of this at the age of 24.

Financial education might be boring (trust me, it is), its not glamorous, and you'll probably need coffee to stay alert, but it pays off in the long run.

 

There are other reasons to go into business for yourself. To be able to do what you want to do. For the challenge and mental exercise. To in a sense master your own fate. To not be submissive to a superior. Most small businesses fail for lack of emergency capital and getting so lost in the endless 10,000 details to not see the big picture. Also, most business owners won't call it quits when the business is failing until they are totally broke and hopelessly in debt, when they should have shut it down earlier to try something else. There are matters concerning employees that can go wrong.

Young and want a business? Buy a lawn mower, edger, blower and broom. The goal? To get enough customers so you are hiring others to do the work. No one gets rich working for themselves in business. They might get rich if they have other people working for them making money.

Small business is a HUGE amount of time and thought demands all the time. But, unlike the President said, you did MAKE IT happen and it is YOUR'S.

 

Disneyland did not get there itself, Virgin did not become a conglomerate overnight, Nintendo did not become a conglomerate overnight, and existed long before it became known for video games, I look up to elites like David Geffen, Richard Branson, and of the like. Even Oprah is to be admired to a extent. Once you become a elite, you can start giving back. Either to charities, organizations of choice, or start those charities or organizations. Anyone can become a millionaire many times over, a Walt Disney type story, you just have to change your thinking, and your ethic.

 

That is not what he said. He said people who won't work. But most people with disabilities could do some work.

 

Unless the person has serious health issues, people should not retire. I see many old folks, particularly older men, who retire because they can - and then just putter in the yard sometimes, mostly watching TV day and night.

 

Yes he does teach that savers are the losers. That's because their money won't keep up with inflation. And $1000.00 saved today won't buy the same amount in future years as it will today.

 

The beauty about passive income, however, is even when you're not checking in and out, and retire, you still have money coming in, if you've played it well, millions coming in.

 

A fifteen dollar an hour minimum wage simply makes that easier.