Why the disdain for “rich” people ?

[GypsmJim]

A Rich person is anyone that has more money than you.

The truly Poor people are the ones that hate the rich. As you move up in the wealth stream, people become less and less hateful toward those above them.

It's a sliding scale. It's uncanny. The richer you are the harder you worked to get there.

An acquaintance of mine has criticized me for taking expensive vacations. She said she NEVER had a vacation. My answer is that vacations are an earned benefit and you never had a job!!! Her comeback is that she can't get a job because nobody will hire her. My comeback to that is I went to the university and got a degree. Then she says she could not afford college. Well, of course. Three illegitimate kids right out of high school will do that to you. Besides, I couldn't afford it either - that's why I went to school days and worked full time nights.

But I digress. Maybe it was covid. Seems like things are worse today. Not just against rich people, but it seems like there is a lot of hatred these days no matter where you go.

 

[biku324]

The ones who irk me are the people who were born on third base but act like they hit a triple. You know, inherited Daddy's money and have a string of failed businesses behind them, don't pay their bills and act like they're business geniuses anyway.

I'm not wealthy, but as I like to remind my daughter, to half the world we're the rich ones.

Andrew Carnegie: 'I would as soon leave my son a curse as the almighty dollar.'​

 

[SGT ROCK 11B]

Rich folks are the ones that create companies and create jobs. Have you ever worked for a "poor" person? I think not.

Poor person mentality at play.

The “Rich Dad, Poor Dad” book explains it well. However parts of his plan I disagree with.

 

[YouveHadYour6]

Rich folks are the ones that create companies and create jobs. Have you ever worked for a "poor" person? I think not.

Many, MANY times...you ought to work with 'entrepreneurs' more; most with new businesses - sometimes the second or third successful one - have about two nickels to rub together. It's usually because they put their money into the new venture.

 

[22hipower]

I do not have a problem with rich people. This is America, the land of opportunity. If you worked the American Dream like say Bill Gates, then that is what it is all about. he revolutionized the world, and gives billions away.

Just pay fair wages and provide opportunity for others.

Beyond that , PAY YOUR TAXES.

The tax problem in this country does not lie with the rich, it is a product or failure of the Congress to write fair and equitable tax laws without loopholes and special interest advantages.

Agree, and of course our propensity to spend other people's money, and to borrow more to support profligate spending, doesn't help.

 

[Bald1]

Rich folks are the ones that create companies and create jobs. Have you ever worked for a "poor" person? I think not.

Hahaha, I worked for poor people most of my life. I live in NY. That’s what my taxes are for.

 

[22hipower]

I teach college (I know, I know, insert how awful and the 'L' word professors are here) - the complaints currently arising, at least from the young people I encounter bringing this up, are in regard to wealth inequality, not simply 'rich' vs poor. Wealth inequality has grown quite a lot in our country and most developed Western countries.

Rich people, eh let'em be rich. But also let'em pay taxes at the same rate w/o dubious financial shelters and a thousand safeguards for private business that guard the business before the worker. (And yes, I have sucessfully owned and run private businesses; I disdained it so I go into teaching.)

That's all I'll say on the matter here, but it's the disparity between the common worker and the CEO that angers people - and probably rightfully, as it has never in modern history been such a deep gap.

*Wanted to add - while I personally am, as Ray Charles once put it, 'comfortable', it is my earnest belief that if I invented the bloody wheel, put into place all the business organization and construction for its build and continual use, and started WheelCo, Inc - as founder and CEO I would still NEVER deserve 300x (or more) what my lowest paid worker makes.

You may be correct, about the relative value of work, but it is the marketplace that decides that. We can, as was the case yesterday, marvel at someone being willing to pay $5k for a 29-2 or $10k for a pre-war HD, but that's what the market at that point in time was worth. If CEOs aren't worth what they're paid, they usually don't last long. Elon Musk is paid billions every year but without him there wouldn't be a TESLA or a company able to launch a rocket in to space and bring the launch vehicle back to the launch pad. Would there still be a TESLA if Elon disappeared? Yes, would it be worth nearly as much, probably not.

 

[YouveHadYour6]

Hahaha, I worked for poor people most of my life. I live in NY. That’s what my taxes are for.

That's what small business taxes across the country tend to be for.

And usually instigated by the big business above.

 

[TX-Dennis]

I once thought anyone with a million or more in net worth would be rich. With inflation in today's world that's really not true any more.

I saw a statistic that nearly a quarter of US households have a net worth over a million today. Much of that is home equity with today's sky high home prices rather than available to invest or spend, though.

 

[YouveHadYour6]

You may be correct, about the relative value of work, but it is the marketplace that decides that. We can, as was the case yesterday, marvel at someone being willing to pay $5k for a 29-2 or $10k for a pre-war HD, but that's what the market at that point in time was worth. If CEOs aren't worth what they're paid, they usually don't last long. Elon Musk is paid billions every year but without him there wouldn't be a TESLA or a company able to launch a rocket in to space and bring the launch vehicle back to the launch pad. Would there still be a TESLA if Elon disappeared? Yes, would it be worth nearly as much, probably not.

I think we have to agree to disagree, I simply do not hold truck with anyone's skills or talents - especially of those currently alive - being 'worth' that much more than their fellow man's. Then figure in the typical advantages such a person gets - Lon and his dad's mine, etc - it doesn't balance.

Sorry, I disagree, and firmly.

*You should also research the company Tesla, as much of what you state there is incorrect, it's not existing with Musk, etc.

 

[GypsmJim]

Memories of the Great Depression.

My parents were like that too.

My Grandparents lived on wieners, bread and potatoes. When Grandma tore a hole in her dress, she sewed it up. When Mom would give her a new dress as a present, she would SAVE it for when she needed it. They never bought a steak or any "luxury" - every dime had to be "saved".

When discussing things with her, Mom said we are middle class. That enraged Grandma - she considered herself to be poor.

When Grandpa passed and Grandma had to go to the nursing home, we were shocked at the savings in their various bank accounts. She was now angry that the Home was talking her savings. I always said that's what you saved it for. And you know what? In the end the Home got it all, and Grandma and Grandpa never accepted a dime of welfare from anyone.

 

[SGT ROCK 11B]

I saw on this or another forum that the 1%er earned $350k annually in 2008. In 2024 a 1%er was up to $750k annually. Anyone here doubled their income like that?

Chelsea Clinton is paid $900k annually by NBC and apparently it’s an office job because I never see her on TV or her name in the credits either.

 

[paddlingman]

"Comparison is the thief of joy."-Roosevelt. Folks need to concern themselves less with how others are doing financially and focus on improving their own situation.

While working hard to achieve a moderately comfortable income is critical, of greater concern - IMHO - is exercising frugality, spending less and investing. “If you don't find a way to make money while you sleep, you will work until you die." Warren Buffett

~ Grew up in East TN and FL in the 70s. I may have won the path-to-success lottery by being born white and male in North America, but we were quite poor by US standards. Food insecurity? Yep, quite often. Welfare assistance? Nope, Mom never applied. Braces? Nope. Money for college? Nope. Comfortable now? Yep, quite. Thank God.

 

[Grayfox]

I don't think its so much the money as it is what kind of person you are. Some rich people are caring, generous and contribute to their community and worthy causes. They're good people trying to help and make a difference.
Then you have the wealthy people who are greedy, untrustworthy and nefarious. These are the ones who have more money than they could ever possibly spend, but all they care about making more. They can never be rich enough.
its not just rich people, but the huge, wealthy corporations as well. Money equals power and power corrupts. They use this power to influence legislation to their benefit for the purpose of making themselves richer and more powerful. Its to this end that the people, the country and the planet suffer.
In short, we have the best government that money can buy.

 

[Mule Packer]

I got my health. I got my family. I sleep well at night. Yep! I'm rich beyond my wildest dreams. Got everything I ever prayed for. As far as using the amount of money as a metric for rich; let's just say I gots what I need

I agree. Money is a very poor measurement of wealth.

 

[glowe]

. . . Wealth inequality has grown quite a lot in our country and most developed Western countries . . .

This is a common misperception. Wealth inequity is nowhere near what it was in the late 1800s and the early 1900s. The chart below shows the true history of wealth in Europe/US since 1810. The top 10% of wealthy people controlled as much as 90% of their countries monies in 1910. Monopoly busters took their toll on the wealthiest and in return the amount of money held dropped by 30%. Bottom line is in general we are still below the 1810 levels and well below the 1910 levels.

 

[4896worker]

Because class envee works at the ballot box . Out here left coast every election it’s tax the rich don’t pay their fare share. All the usual chants .

 

[YouveHadYour6]

This is a common misperception. Wealth inequity is nowhere near what it was in the late 1800s and the early 1900s. The chart below shows the true history of wealth in Europe/US since 1810. The top 10% of wealthy people controlled as much as 90% of their countries monies in 1910. Monopoly busters took their toll on the wealthiest and in return the amount of money held dropped by 30%. Bottom line is in general we are still below the 1810 levels and well below the 1910 levels.

I'm referring to CEO vs lowest paid worker, not wealth shares per class. I don't make assumptions about economics - I may have different views than you, but I refer to facts. I am speaking of pay between the average or lowest paid worker versus the highest paid worker during the 'height' of American prowess in modern context, IE during the postwar era versus now, specifically.

I suspect overall we disagree. However, barring further misconstruing of what I'm talking about I'm out of this thread, as I don't view anything useful coming of it.

 

[SMSgt]

During my extensive time at the local bars studying human nature, I have found rich people to be much like vegans. You don't have to ask; they will tell you soon enough. When they flash their Rolexes and wads of bills, I counter with a stack of overdue-payment second and third notices.

 

[SGT ROCK 11B]

I once thought anyone with a million or more in net worth would be rich. With inflation in today's world that's really not true any more.

I saw a statistic that nearly a quarter of US households have a net worth over a million today. Much of that is home equity with today's sky high home prices rather than available to invest or spend, though.

According to the 2022 Survey of Consumer Finances by the Federal Reserve, about 12% of U.S. households have a net worth over \$1 million.

Wealth in CA, TX, FL is different from wealth in MT, ND, MS.