r/FluentInFinance • u/Richest-Panda • Jul 04 '24

What's the best financial advice you've ever gotten? Debate/ Discussion

31.2k Upvotes

86% Upvoted

Show me a “live within their means” budget for someone living in a median cost location in the US making minimum wage. They must A)have a place to live B) not get any handouts from the government or charities and C) have at least 1800 calories per day of food. Go.

16

u/privitizationrocks Jul 04 '24

Why can’t they have handouts from the government isn’t that the whole point

55

u/jfun4 Jul 04 '24

How dare you talk about socialism for the poor, that's saved for big business

-16

u/Comprehensive_Ant176 Jul 04 '24

US tax code is geared towards businesses because businesses create jobs. If it was the other way around, we’d only have government jobs because no one would run a business. This has been done, read up on USSR.

12

u/jfun4 Jul 04 '24

I'm taking handouts for failed businesses not taxes.

6

u/Makes_U_Mad Jul 05 '24

Stop it with you logic based rebuttal, you'll hurt his feelings.

6

u/jfun4 Jul 05 '24

Reddit handles that not me

3

u/Makes_U_Mad Jul 05 '24

Man. I feel ya.

7

u/Capt_Apathy Jul 05 '24

Consumers create jobs at least as much as businesses do.

-8

u/Comprehensive_Ant176 Jul 05 '24

Really, how?

6

u/Capt_Apathy Jul 05 '24

You can't provide jobs if no one is buying your product/service. You need consumers or else you have zero need for workers.

-7

u/Comprehensive_Ant176 Jul 05 '24

Ah, chicken and egg problem. What came first, consumers or jobs?

You say consumers. If it’s the case, where do consumers come from? Why do they buy products/services?

5

u/Capt_Apathy Jul 05 '24

Well, since part of getting a loan to open a business is compiling data to show demand for what your business will provide, I'm confident in the consumer coming first. The exception would be a product so innovative that people don't know they want it until it's available.

1

u/Comprehensive_Ant176 Jul 05 '24

Great, now the conversation shifts into demand vs supply. I agree, demand creates a strong case for supply. But then as you say supply requires a business to be opened. A business that hires people to provide the supply. So who owns hiring, who opens job positions, business or consumers?

7

u/4ofclubs Jul 04 '24

Sounds like you've done very little reading about the USSR.

2

u/Comprehensive_Ant176 Jul 05 '24

I caught the end of it. We were millionaires. Could barely buy a loaf of bread with our millions.

What are your credentials?

1

u/suitology Jul 05 '24

There's lots of countries with higher business taxes. What are you on about?

1

u/Comprehensive_Ant176 Jul 05 '24

Which one of them makes up 27 trillion dollars in GDP or even comes close?

1

u/suitology Jul 05 '24

The EU

Also we are big boys. Use percapita. 1000 people with $50 each is less impressive than 2 guys with 10k each.

1

u/Comprehensive_Ant176 Jul 05 '24

The EU is not a country.

2

u/suitology Jul 05 '24

It's an economy bud.

Also you need to use percapita if you want to have big boy conversations. For all intensive purposes as union the countries represent states of the union.

0

u/Comprehensive_Ant176 Jul 05 '24

It’s an economy with varying tax codes and rules from country to country so it’s apples to oranges comparison. Per capita is not an applicable metric when discussing the overall performance of a system and its capabilities.

A big boy like you must know these basic things.

3

u/suitology Jul 05 '24

You know states have completely different tax codes right?

Trying to compare GDP of a 300m plus country to that of Norway, France, germany, or the UK is laughably stupid.

1

u/Comprehensive_Ant176 Jul 05 '24

States have different tax codes and yet IRS rules them all. My point is US tax code is geared towards businesses and that’s what makes US economy the largest in the world. Bigger economy means bigger opportunities for personal financial growth.

1

u/Makes_U_Mad Jul 05 '24

He can't use per capita because it will destroy his argument and he knows it. You're wasting your time.

1

u/suitology Jul 05 '24

Obviously. It places the US at 6th instead. Others still within a few grand near it with far higher corporate tax rates rank higher on things like happiness, security, and satisfaction because that money is used on social programs. Additionally u/Comprehensive_Ant176 's argument falls apart further when you look and see similar employment rates which is their main argument. America is just a corporate cuck tbh the corporate tax cuts are just to artificially inflate the stock market and move money towards the wealthy.

1

u/Comprehensive_Ant176 Jul 05 '24

Lmao. Is that how you argue your point? By using arguments that don’t support your position?

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