I wish people would wake up! Every single aspect of the current government is nothing what the founding fathers wished for this nation. There are only criminal trash running things
I listen and learn a lot from you and your guests. Most of them are of the view that the government is the enemy. When are you going to invite someone who can give you the working man's point of view.
Weakening of state power and social protections, huge wealth inequality, and a power shift from our government to corporations is why there is so much turmoil in the USA
Student loan debt keeps people from taking risks. Nome Chomsky talks about this and manufacturing consent. Now his point of view is more about politics but he says basically that the rulers of the system saw the upheaval of the 60s and '70s and the student movements and said to themselves if we indebt them to the system then they won't try to change it. I think this translates to everything though. If you have a ton of student debt the likelihood of you quitting your job and starting a business is very low.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but its hard to bite the bullet and do it.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Tired of the "recession is coming!" threat. Recessive periods come along with equivalent market opportunities if you are well informed and equipped, I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
Experienced the same thing. The financial counselor we met with last year told us, "Guys, you've already made it," even though my spouse has retired. Stop delaying enjoyable activities in life
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I’m sorry I can’t! I’ve graduated college, worked in several industries, started several businesses - failed at several; went to a couple different trade schools. Got married, raised kids, got divorced and remained. And over the past 5 years I’ve come to terms with the reality I’ll probably never be rich. So I found a fulfilling job with pay that suites my life style and made a concentrated effort to develop hobbies and strengthen my relationships with my family and friends. The end result is that I finally, FINALLY! I Reached a place of content happiness. Only to be told by a couple income elites that if I’m not a self employed millionaire it’s because I’m lazy and don’t meet the “minimum intelligence” and thus I’m poor? How about we acknowledge that the system is broken if the common citizen is failing.
"I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. 13 I can do all this through him who gives me strength. Philippians 4:12-13
Everyone wants to be an entrepreneur but need to realize that maybe they aren't built to be an entrepreneur but rather an intrapreneur and both can become wealthy we just have to be able to identify which one we situate ourselves under
Like a forest fire that wipes out the old trees to make room for new growth, bearish periods ultimately establish a new crop of stocks to buy and watch while setting the stage for a robust new uptrend.I have been reading articles of people that grossed profits up to $250k during this crash, what are the best stocks to buy now or put on a watchlist?
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
My CFA Lucinda Margaret Crist a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ― Henry Ford
Worked hard, took lots of risks. Built and ran restaurants and came down with an autoimmune disease that took seven years to discover. I am 61 years old, have lost the ability to work out, work hard which I love or even be on my feet for more than an hour at a time. I have lost almost everything and am still trying to figure out other ways to make my life purposeful and make money. Otherwise, I can’t even begin to imagine those who don’t know how to keep asking questions, creating and hope. It’s gettin harder but stay open and know that no matter what, you don’t know everything. Listen more and take responsibility for your reactions, even if you lose it for a minute. I love these podcasts and you are so great at talking to everyone and getting the best out of them but it is hard to hear these things when you are a single mother, are a minority, are disabled or many other circumstances that makes it hard to stay open to all possibilities and not lose faith. Thanks for bringing all the best minds to us and asking great questions.
I can very much relate to this. 48 with autoimmune issues, bulged 4 discs working in construction 3 years ago. Lost all my money, my home, and maxed out all my credit cards. Trying to start over by living in a VW van, but I’m having a hard time getting the funds together to pay for said van.
I have literally lost count how many people I have seen talk about how they have had autoimmune conditions and in their words, have been healed by the carnivore diet. Please don’t take this as gospel from me, please have a look at all the carnivore videos and person after person after person after person, it is endless, discusses those sorts of healing situations.long fasting also seems to give really good results.
I've been recovering from chronic pain of the same nature and have seen a huge improvement with magnesium, beef organ complex, and a ketogenic diet. From everything I've learned about nutrition, there is a lot of crap in most of the food we eat. A big rule of thumb will be trying to get the least processed food as possible. Carnivore diet can be expensive, so getting trusted grass fed beef organ complex supplements will give you nutritional density and variety the same way a multi vitamin is with more absorbancy due to the supplement being closer to a natural source. I have been skeptical of beef organ and ketogenic for years and made the switch out of desperation. Haven't had a regret since. Hopefully there is something helpful in here for you folks.
51:00 My son is graduating from HS in a month. He always had to work for his pocket money. Fed up receiving an hourly wage, he started a car detailing hustle and just added window cleaning. He’s doing really great and is extremely proud of the money he earns. I actually mentioned to him Cody’s advice to start a “dirty” business because most people with money don’t want to clean themselves.
As an owner of a window cleaning/pressure washing business i know he can do really well for himself by doing the dirty work! It's really satisfying work too!
@@Ryan_Eggers Thank you for taking the time to share your experience. He does love it and compares it to meditation. He makes perfect stripes on the carpeting when he vacuums the inside of the car. 😅
I don't believe that I have ever contacted a celebrity, but I've listened to this twice and have really enjoyed it. As for my background. I was raised a Southern Baptist in the deep south. Fast forward 70 years, and now when the question is asked, what race i am? I reply. The human race. Great show to the both of you!❤
I worked as a carpenter for 10 years then opened my company about 13 years ago. You do much better on your own after about 5 years of building up your business. I opened a gym 4 years ago and just closed it because the construction is much more profitable and worth my time. I guess my point is investing in yourself and learning then once you understand business you can succeed in anything if you understand the market.
construction is good when housing is booming, but I worked in architecture firm in 2008, when the financial meltdown happend, this industry was devasted, every peoject was put on hold or cancelled, millions jobs lost, the housing market crashed like crazy for years...
Absolutely! That national debt is only about 20% owed to other countries. Most of the debt counter parties are to US citizens who are the 1% who buy bonds.
Ok that's untrue. I am regarded as rich by most metrics and I pay more in taxes than 98% of the populace. Also, monetary policy is designed to transfer wealth from the poor to the rich when increases in the money supply fail to increase the velocity of money (activity in the real economy) and thus result in asset inflation enjoyed by the rich. @@JustAnotherJarhead
I think that people forget that most of those drawing social security and Medicare have paid into these systems their entire working life. As a senior, I don't think that I'm getting a Social Security check because I need it. This is something that I paid for. Further, my Medicare premiums are higher than what many non-retired people are paying.
This argument of hers really annoyed me. Scapegoat the poor while enjoying all the benefits (incl. very low corp tax rate) of being a citizen in a country built and shaped (politically, socially, technologically) by those very workers and they're taxes. And trickle down? Are you joking, wtf. Libertarians are a special breed.
Hard work is so overrated. I go through life trying to get the most benefit with the least effort, and it is worked out just fine. I was a truck driver and I retired at 33. I'm now 51
Although that is super cool. I have a similar position myself, however that doesn't seem to acknowledge the point. You were a truck driver because of consumption, which comes from the ability to spend money which comes from productivity. So although in your case you are claiming "hardwork" therefore a version of high productivity is "overrated" I'd say it may be possible that your segment of transportation may be more unhealthy if people did not work hard or felt hard work was overrated. In other words, if you didn't work hard as a truck.driver, then you only made money because of others hard work therefore proving hard work is not "overrated" as it's rating has given you a job and retired at 31. Because of others you are able to not work hard you claim. Just walking through the ignorance that engulfs the state in which we occupy the area in and around the location in which you're able to be in.
Money is a metric but not everyone's metric. You generate your own metrics of your life, but you never get to make a metric for another. That's the beauty behind Life, Liberty and the Pursuit of Happiness. IMHO
"When the Last Tree Is Cut Down, the Last Fish Eaten, and the Last Stream Poisoned, You Will Realize That You Cannot Eat Money." But in our case, it will be the same thing when all of these are already owned and those who own them say "Lol, no, we don't want your money"
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take to recover, or am I better off putting my money elsewhere. I need a lot as rent, inflation alone eat up almost all of what I make, with dependents and other obligations included. Tbh it's an uncertain year for me.
people calling stocks momentum a flunk aren't considering the long run. The companies themselves have not changed, it's the market that changed. Steady as it goes, and it'll regroup in weeks.
If you are not too savvy with the market, it’s the best time! just buy and hold on strong companies or best you seek out areas within sectors that can help you sustain a balance in both growth and value overtime. In certain cases, it's even wiser to speak with a smartvestor to determine options best meant for you, I personally did this, and it works pretty well..
right now I’m being focused on renewable energy, semiconductors, Ai chips which will be hugely integral on every sectors in the coming years. an absolute power move right now.
I love to hear what Codie Sanchez has to say. I learn a lot from her, even if I disagree with her. Sometimes I'm right, but when I'm not, I learn something.
You already nailed it. They have no desire to drop spending, because most voters are - frankly - idiots. They will vote for whomever promises the most, so, we're just headed for an inevitable disaster.
Over half of our national debt is directly attributable to tax cuts for the wealthiest Americans and to fund unnecessary wars (The ME wars cost $ 10 Trillion alone). On top of that, we spend more on defense than THE NEXT TEN NATIONS COMBINED. Meanwhile defense contractors make greater profits than almost any sector and all paid for by taxpayers.
This Video raises some crucial points about potential economic downturns and opportunities for wealth creation. I've recently come into an inheritance of nearly $900,000, and I'm being directed towards the stock market. What risk management strategies are recommended to navigate and safeguard my investment in the market during such uncertain times? Any advice from seasoned investors would be greatly appreciated!
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
I love how the words economy and ecology have the same Latin root word, eco, basically translating to home, technically household. This shows me that we need solutions that are both economically AND environmentally intelligent.
She called California a 'failed state.' We sold all our business interests and fled Silicon Valley in late 2017. She is 100% right. When CA state income tax was 10% we thought it was too high (so did most other people). It's now 14.9% and they talk of 16%. Like any business when management is poor, people leave the firm. CA is astonishingly, poorly managed. In the past, being a business owner - you knew that. These days most citizens know it. LIFE IS SHORT! In the 'lower 48' there are several other states offering wonderful living environments - and zero state income taxes in many. We moved to one, and it's been a huge blessing. .
On the flip side, CA management is so bad that the chance of future management being better is pretty high. Everything reverts to the mean. If nothing else, your chance of slipping on black ice in the winter and dying from a PE secondary to your hip fracture is pretty low in CA.
The point of a government is not to maxime profits it's to help their population. Extreme competition and a system where you can go from everything to nothing with 1 bad luck keeps everybody stressed and agressive, like your guest. Societies that distribute wealth better and where people know their basic needs will be met, are much happier and healthier. We need a massive change in objective and ultimate wealth is not the right objective
Something they could be done is to ban stock buy backs. If company’s weren’t buying back their own stock, which BTW elevates the stock price and allows the CEO’s etc to exercise their options and make scads of money, the company could use that capital to expand their business, improve their business thereby making more money, hiring more people and generally being more productive. That would big a HUGE deal.
That would mean that you would have to ban dilution of stocks as well. Which means they couldn't raise capital... which defeats the whole point of the stock market.
What you have to realize is instead of worrying about the big companies buying shares at a lower rate, focus on buying at that lower rate yourself. People complain about what others do to make more money instead of focusing on what they can do to do the same. Opportunity is available to us all! Most people just rather complain than take advantage themselves. 🤦🏻♂️
Yep, but companies dont need to hire human beings any more. And they never will again unless politicians create policies to incentivize companies to hire human beings. In other words, we're fucked.
The solution is not to tax the very rich but to make sure that the rich do not use loopholes to avoid taxes. That will not solve the government's deficit spending problem completely. But it is fair that everyone carries its own weight.
Such a great , thoughtful and inspiring podcast. Tom you have a special way of lightly challenging your viewer after they finish an incredibly convincing and informative tangent that seems to need no further explanation which allows for a deeper understanding 🔥
Inflation is to prices what acceleration is to speed. Both prices and speed will never come down if inflation/acceleration is not negative (ie deflation)
It's lovely to hear wealthy people saying we can all be rich with a little bit better hustle. "Just get up at 6am and sell something everyday.." So we all just need to sell things to people? When we're all hot, hustling sales people, who we going to sell stuff to? Only a wealthy person would be blind to the fact that isn't a solution for the majority. I'm surprised by the degree of privilege blindness here.
They know that not everybody's going to do it. Also, neither of them were wealthy to start with. But I understand your line of thinking. That's why I'm replying, but you're really not making logical sense. Of course they know that not every human being on the planet is going to start a business, buy a business etc. There's nothing wrong with them giving insights for those of us who want to take that route.
The thing wrong with their advise is that sometimes it boils down to "be the crab in the bucket who drowns the other crabs to escape". Some of us are a little too comfortable with that reality.
Just stop buying your daily lattes from Starbucks. I know that's a meme, but I'm serious. Say $8 for a Starbucks every day for one business week over a year. That comes up to $2080. Take that $2080 and put it in a Vanguard fund instead. Over 25 years, that $2080 will be worth over $20k. Now keep this up for a 10 years and also apply this principle to all the other worthless junk you buy in a year. Frugal living is how millionaires are made.
A nightmare generation, two hustlers gaming their world. Such fast talkers with so many easy answers. So bright, so wonderful. Selling courses I imagine to desperate members of their troubled age group with promises of great wealth. Over 40% of Americans can't come up with $400. I'm old, and relatively financially secure. Young people today are desperate for easy answers. There are none.
The Department of Education is administered by the United States secretary of education. It has 4,400 employees - the smallest staff of the Cabinet agencies[5] - and an annual budget of $68 billion.[6] The President's 2023 Budget request is for $88.3 billion .
The description that we are transferring money from people “earners” to “non producers” via services like social security and medicare is ignoring that we have been paying into that system so when we no longer are working, we receive those earned services. It is ignoring the fact that many of us have paid into those services via our payroll taxes for our entire working lives. We earn that, otherwise don’t tax me and let me invest that money to pay for my retirement income and medical care expenses. Taxing the rich appropriately and at the same level as the middle class to reduce the middle class tax burden gives the middle class more money to invest and grow our contribution to the economy. Stop concentrating all the wealth, the middle class can drive a productive economy.
@@minfilipino It is not just poor people who buy unnecessary shit. Middle class and rich also do that. Unnecessary for you may not be unnecessary for someone else.
Wasn't going to bother with this as I find all these doom recession podcasts clickbaity, but this isn't what the podcast about at all. It's actually the best podcast episode I've listened to in a while, both participants in top form for this. Felt I learnt a ton, and even a couple paradigm shifting moments. Great stuff!
On minute 39, My mother told me that hard work under your control is dignified but hard work under the control of someone else is drudgery. So I only working hard when I am under control of the outcome ( my own business) and no someone else’s.🤔
Working through the night..does motherhood count? 😂 I would love to hear her advice for mothers. We’re experiencing the fact that households who need 2 incomes, yet society is not structured around children’s school schedules. Aftercare is difficult to find in my area, a big city. What can mothers do build their wealth in their 30’s? I feel like those of us who have a family are limited because we’re caught between doing what we feel is right for our kids, yet trying to financially do what is best.
Thats a such a real dilemma. I’m not a mother so I’m not familiar with the limitations to this idea but from what I have seen from successful families with a stay at home Mom, creativity is so important and the opportunity to build a business from home. I have seen a Mom do a birthday party design/planning. Another example of creating children’s clothing out of their garage. Sorry if that’s not helpful I just figured I should share it with you.
This! ⬆️ I'm okay with working through the night, but when 1 of the 3 babies are waking up every 3 hours, I don't get much done.... then having a baby every 2 years, this lack of sleep has been happening for about 6 years....lol Not complaining because I love my babies more than life and this is the route of life that I have chosen. Although I am very work driven and working hard to run my business, yet juggling both, I'm treading and exhausted. I keep telling myself if I can make it through the next year, the sleep may get easier and I can dig deeper and harder on work again. It's hard as a mom! And honestly, even myself, nobody knows how a mom has to work unless you've then turned into a mom. We can still work hard and have grit, but we are working a 2nd job 24/7 as well. Anyways, I agree with a lot that CS mentions and I love her. Mom's, we can still do this. ❤
I don't think it counts because the question wasn't when you "had to" but did it because you wanted to. If you don't feed your kid, they die. You're not doing it as a hobby or passion, it's a need. You'd be doing it whether you enjoyed it or not, just like anyone else. That's not really monetizable business, it's just what all parents have done since the dawn of time. Now if you're so "in the zone" working on a concept or idea that 8+ hours go by and you're still working on it purely because you belive in it and are passionate about it, that's something you can turn into a business. That's a skill you can use on other projects which can lead to revenue. Many artists and business owners do this. The average person rarely, if ever, does it.
You are watching two wealthy people have a discussion. What else did you expect? Everything that takes money out of their pocket is deemed inefficient. They just blindly assume all wealthy people are doing efficient things with the money and therefore "redistributing" anything away from those wealthy people is bad.
@@henrythegreatamerican8136 I mean, I like a lot of what they're talking about. CPI is kind of rigged, inflation is a wealth transfer away from workers, quantitative easing is also a wealth transfer, the main path out of it is to start a business, or something. But, to hyper fixate on THE POORS SUCK for as long as they did, felt pretty disingenuous
History shows that financial markets follow repetitive patterns. In his book "Grand Time", Artur Grandi offers a clear-cut strategy for stabilizing investments and identifies opportunities for investment, including in cryptocurrencies.
She sees what the main problem is now,government & corporations have so much control in so many ways that individuals even rich ones have little say so in the operations of them to make dramatic change if thats what you want.
This is exactly why MSM is so vapid. Here are two individuals who have figured out how to be successful and can articulate their lessons learned well. Those listening to this have been given a great deal of Insight to improve the direction they can go next. Listening to these two has been time well spent.
No one is ever completely self-made, I am sure the two of you didn't grow up in the slums of Africa. Your background and connections make a big difference in what you have achieved in your lives.
@@chrisaiello4896Everything is IQ-determined. Elon Musk most likely has an IQ of above 160. The guest in this show and Tom certainly do not have an IQ higher than 140, if not much lower.
@@BBshark000 It is not just IQ it is "grit" too. You have to have some risk taking, some drive, some stick to itivness, etc. And still, 90% of businesses fail. So you must be willing to fail multiple times.
they got rid of a lot of the profit sharing in the 80s and 90s and that’s one of the reasons why we are in a non-motivational situation at this point in time
Yes Marketing and accounts took over. HR used to have a bigger voice. They diversified, re-engineered and fucked their employees. Outsourced , created contracts and then sacked with a day's notice. Here in Aussie they created "workplace agreements", dispersing all the progress Unions had fought for previously on behalf of those who laboured. Shareholders became the new kids on the block, distorting the true value of products , manipulated by the bigger traders. So this notion of a "free market" regulated by supply and demand is an ancient and deeply corrupted mythology. The system is collapsing. Blaming the social safety net so pathetic in the USA seems to be an articulate version of scapegoating. "Look in the mirror might be a more honest strategy. Many of these economic theories that are considered "truth" were developed by colonisers, slave traders and corporate raiders, or isolated intellectuals living within a virtual reality. There are nuances of course. Subtleties but that would require a dissertation. I have traversed many "stratospheres" of society economically in various cultures, most significantly Australia, USA, Holland and England. Hard not to "smell a rat" when the division between the wealthy and those who survive on minimal working class wages or heaven forbid (sarcasm here) social security widens exponentially. I simply laugh at the first world dilemma of having money to invest. A huge proportion of people in our world are struggling to get food. Lets have some guests on the show who are representing "the Common people". Let's hear more about co-operative economies as other revolutionary ideas.
Social security is NOT transference. We paid for that. Remove that from your graph and then we can talk. I used to teach graduate biostatistics. I know when someone is trying to hide information. At least define what is included in each of the four categories.
It's arguable whether the amount payed in is worth what gets payed out when factoring changing rates of inflation. Future generations are paying for it too and it's unlikely to survive the size of the boomer generation. So imagine paying for something you know you're never going to get...simply because of demographics. Our population is shrinking...not growing. It's supposed to be a net...as in addition to other retirement income streams...not the sole source of retirement income.
@@micmccond7 Yes, I’m well aware. I’m one of those who won’t be getting much from SS. I paid into the system from age 16 - 45 but many of those years were lower income so didn’t qualify as counting towards the 30 year minimum. Good thing I wasn’t relying on that and have my own side businesses now because it would have not been there for me, very scary. Fortunately eleven years ago, at 45, I switched over to a job with better retirement so that pension will be there in addition to my 2 businesses. Regardless, my initial comment remains true about her graph.
58:14 So good to hear that it's about our mindset! Enjoy the hard work > complaining will be the best determinator of our success in buying a business.
Omg the jab at 'trauma in the hips' has cemented my love and admiration for Codie 🤣🤣 And I say that as a psychotherapist and yoga teacher. Pathologizing the living shit out of normal human experiences is hurting society.
How about an episode on how we can construct society to work for everyone. Not everyone in a society can be rich because.... Inflation Maybe businesses should put employees first over shareholders for example. Working yourself to death is not a good answer
You (and your fellow effort, pain and risk-avoidant collectivist comrades) are guaranteed to be a failure. You want other humans to sacrifice their efforts/income for your benefit. You are preaching parasitism.
i'd guess the only way that works is in a post scarcity economy. Communism and socialism is an abject failure. Sadly, capitalism is the best thing we have for now
@@hardleecure capitalism can be REGULATED. Limit bonuses, limit dividends, 100% tax over 10 million $ There ARE solutions ! If they don't like it fuck off to China see how that turns out, Bezos/Musk/Peter Thiel
Alot on this channel is "get up and work harder and smarter, sell stuff and improve your business!!" Well what about the most of us which work in other fields and you, business people are completely depended on? Its often a bit too much one sided to business and selling etc
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
Government salaries should be cut as they extremely over paid. I had a girlfriend who became a teacher and at the graduation ceremony, the parking lot looked like a Mercedes Benz dealership. Corruption and theft at its finest.
SS is a Ponzi scheme. Look up Milton Friedman. Explains it perfectly. His book Free to Choose, is also great. The government used up the original “deposits/thefts” and the young are paying for the elderly (and it’s transferring the young, working, lower class money to the upper class elderly)… his example: a man graduates or drops out of high school goes immediately to work and makes middle to low wages and pays into SS from age 16/18 meanwhile the liberal, upper class woman is sent to college by her family doesn’t work until mid to late twenties 22/28 (so doesn’t pay in until then) and because of degree (assuming not a useless one and not counting she may or may not have any extraneous loans bailed out) makes more and would live longer while the lower class usually have a harder time living longer so the young dropout doesn’t even get to use his “pay-in/theft” while the liberal woman will be using his. What would be moral would be to keep more of what one makes rather than having it stolen as taxes and spend/save it however an individual (rather than a faceless collective/AOC/Pelosi) decides. Freedom and choice. Moral. SS is an unethical system exemplifying the moral decay of a culture.
Problem is not that state is providing a lot of free money and wellfare to the people though in the USA. Its just that ur system is ineffective: An array of usage and billing requirements from multiple payers makes it necessary to hire costly administrative help for billing and reimbursements. Americans pay almost four times as much for pharmaceutical drugs as citizens of other developed countries. Hospitals, doctors, and nurses all charge more in the U.S. than in other countries, with hospital costs increasing much faster than professional salaries. Prices for drugs and healthcare are partially controlled by governments in other countries, but in the U.S. prices depend on market forces.
I love Codie Sanchez! She's very smart, business savy and put together well for a world that's hard and a woman that doesn't give a damn about that. She's independent and has great work ethics.
What an amazing conversation ! Makes me optimistic for our future listening to this.Que Profundo !We now have our best people working night and day on these issues.
Grit, as defined by Angela Duckworth, refers to perseverance and passion for long-term goals. It encompasses two main components: consistency of interest and perseverance of effort. Intellect, on the other hand, generally pertains to cognitive abilities, including reasoning, problem-solving, and understanding complex ideas. Studies have shown that grit and intellect are related but distinct constructs. While there is some correlation between the two, they are not the same. Grit can contribute to success independently of intellect, as it involves qualities like resilience and sustained effort, which are not necessarily tied to cognitive abilities. In other words, a person with average intellectual abilities can achieve significant success through high levels of grit, while someone with high intellectual abilities might not reach their potential without perseverance and passion. Therefore, while grit and intellect can complement each other, they are not inherently tied together. A person can possess high levels of one and not the other.
When I was a kid I was called dumbo because of my ears too. One time when my friend had called me dumbo and i responded at least I can fly. He then responded saying if you don't quit pissing me off I'm going cut one of your ears off so you'll only fly in circles.... I had no response to that.... anyways great video, very insightful! I love listening to these pods.
Robert Reich says there is plenty of money. Corporate Socialism,fake inflation prices. Covid was a smash grab! Robber Barrons destroy every country, eventually & so it goes,over& over😴
If it is a series of fulfilling jobs without toxic people along the way , it's OK to work till 100 years of age. But the reality of working life is just too much grind and pain.
#1 love Codie Sanchez ❤… in less fancy talk do away with food stamps/snap guarantee food prices will dramatically drop. I grew up in a neighbor hood were snap benefits traded 2 for 1 for cash an d drugs.
Tom, i dont watch impact theory much anymore because 3+ hours are just too long. I loved your denser, 45min vids and i would watch those on repeat Also miss your epic intros for those people
@39:44 truths that 1 extra hour puts you ahead. Being in software engr school at age 40 I saw smarter younger ppl give up earlier and yeah I got better grades and better jobs
No one gets to tell me what success looks like, I have to define that for myself, if I don't do that I'll achieve 'success' and be miserable. I'm not a good leader, I've no desire to be a leader. I am a good manager and I am much happier and skilled at finding a leader I believe in and managing the niff for them. We both win. Of course I need to have a clear understand my values to ensure I am working for or with someone I believe in.
The purpose of taxing the rich isn't to finance government expenditures or wealth redistribution. Taxing the rich is a strategy to prevent the corrosive accretion of extreme wealth in the hands of a tiny subset of the population. Since functional democracy is incompatible with extreme wealth inequality, imposing high taxation on the rich could safeguard democracy from the corrosive influence of wealth and the drift towards plutocracy.
Solid point, unfortunately we have already passed that threshold which is why our system is as corrupt as it is. Corporate media, bought and paid for politicians, 'two' party garbage system, everyone is fat and sick, most of our food is overly processed poison, the wealthy skirt billions in taxes, we pay more for healthcare than any other developed nation with atrocious outcomes.... it goes on and on and on.
I think it's an excellent point she makes about not identifying with an idea/ideology/opinion. If we can avoid that it can allow for better debate and progress
“Businesses don’t wheel back their prices” … yes, and employees do not take pay cuts and electric companies don’t cut their prices and governments don’t reduce taxes and… almost nothing goes down.
Businesses can and do cut back their prices if they can. A service based company can reduce their prices by accepting less. A product based company or service may need to substitute for a different component. I’m just saying that it is possible and done.
strange to hear rich people talk...bottom is so low. middle income has been decimated. their is no safety for those at bottom. as no one can keep up as it is. system is rigged.
Do you get the point? They are not rich because they have the air in their name. But because they found a way to use their mind! There is no money measurement in tha. Start thinking differently, money follows that.
yeah, they briefly mentioned how money printing, quantitative easing & CPI is rigged; it's rigged to transfer money away from the employed, you're getting paid less and less as the years go on, it's hitting a breaking point, for sure, when most of us cannot afford to be housed with just our single family
@@johndoe1.196 i did not slander them. nor did i say Tom or his guest are rigging the system or part of it. they are rich. fact. they work hard to earn that level of wealth. fact. but those at bottom of the food chain have infinitely harder time getting into a better position. also i watched the video listen to all issues they raised. based of that i made assertion. which is accurate imo that middle class will be destroyed. those at bottom no why to hedge themselves from coming financial waves. u cant compare their financial level to most people. fact their is very little for common man to do to protect themselves in this market.
@@businessvideocoach4363 strange to see people get offended on behalf of people they have never met. i know they made their wealth themselves. its still a exception its not the the rule. most people current financial state debts etc. makes it impossible for themselves to hedge or protect themselves. ergo why i vented, middle class is being ruined and those at bottom have very little options. the game is rigged; Tom and his guest actually explained so many of the factors showing how wrong it all is runs. i never slandered them. gave mi opinion. what is ur point > ?
Tom, the US government raised the retirement age. Recently, I was born in 1963 and I was going to retire at age 65, now they've changed it to age 67 if I want to get 100% of my Social Security payment. So your theory is wrong that because it did not work in France, it can't be done here. They already did it here and the propaganda Legacy media covered up the story.
The redistribution is largely NOT driven by humanitarian impulses but rather by fear - the uprising in the streets that would result if the money spigot is shut is an unspoken fear
Man I was really hopeful with this one... then she had to go and put ALL the blame on the government helping citizens while promoting that they need to spend more money instead on the war machine 🤦🏽♂️... I get we could do better on how the government spends. But being pro war above helping its citizens, is a problem.
The crash is always coming, always has been and always will . They saying this 3 years ago and people missed out on doubling there money over that time😢
watching this as a european (german to be specific) makes my head shaking all the time... I find this (american) view from the rich close to absurd. The whealth gap is nowhere bigger then in the USA and the rich people pay a lot for protection (gated community), trickle-down theory is non-sense and the lowering of taxes in the last 20(?) years has not lead to the (projected) goal, yet you argue that higher taxes make no sense... crazy to understand for (probably) most europeans...
I have a lot of friends that are taking retired young because they are taking advantage of the system. Just had a buddy yesterday tell me that he knows he is being lazy... but he can't stop because the free help is there. The rich pay 90% of the tax. I used to make 2 million a year. I got tired of paying so much in tax so now I shrank my company and fired everybody and retired at 30. That's what the tax code does... it dis-incentivizes the job creators. You want to raise taxes more? We will just quit and relax... then what will you do for work?
higher taxes don't actually solve anything. We just spend too much here on Gov't, but I looked at Deutschland as well, you guys spend too much on Gov't as well.
@@JustAnotherJarhead that is very true unfortunatly... my general view is: regardless how fair/just any economical system may be, if the result is, that there is a (too) big in-equality in life, that cannot be a sustainalbe system. You can't live as a single billionaire surrounded by only poor people...
The problem is what our taxes go to. Why should anyone desire to put more money into a system which doesn't achieve the desired outcome? If our tax money isn't going to the projects we desire, if our streets are unfixed, infrastructure collapsing, etc. Even with all of the money, the MASSIVE spending rate that we already do have, how would giving MORE money into that broken system fix anything? The issue is not the rate of taxation, it's the allocation of those resources. Our money is being used in programs the majority would never approve of if we had a direct democracy system and could vote to allocate exactly where our tax dollars go.
The problem with your statement is he lives in California! Everyone is taxed to death in California. If you own a home, car even when you buy from any store in California in store or online you are taxed. There is no tax evasion in California unless you are a cash only business in which case you avoid some of the taxes but not all taxes. #getsmarterquick
A couple of people just chasing more and more money. Why? To what end? How much money do you need? Enough to pass down to who? Your kids and grandkids? So they can squander it away? Unless it's like the movie 2012 and you're in some exclusive club that gets you a VIP ticket to a life raft, I don't understand the goal. Becoming super rich doesn't impress anyone but you. 100 years from now, we'll all be a complete nothing.
I hike and do extreme expeditions sailing. I don’t poop in a bag. It’s biodegradable. Use a leaf or snow for TP and all is good. I have a love hate relationship with Ted Turner.( Jane Fonda probably)
Romance 💕 Honestly even healthy relationships are haaaard. While I absolutely think boundaries are suuuuuper important. I think society these days promotes a very black and white existence (regarding most things). When in reality most things exist on a spectrum and we need to be willing to work through or own and our partners issues. No one is perfect solo or in a relationship. But hey, anything worth having is worth fighting for ❤❤❤ I’m so glad to hear that you brought up the doubts you were having about your current relationship and that the two of you can talk about it and work through it. Thats a really good sign if you ask me. Love you and wish you all the dating luck!!!! 💕
WARNING: I will never ask for your contact info in the comments section, that is someone impersonating me!
I wish people would wake up!
Every single aspect of the current government is nothing what the founding fathers wished for this nation.
There are only criminal trash running things
I listen and learn a lot from you and your guests. Most of them are of the view that the government is the enemy. When are you going to invite someone who can give you the working man's point of view.
Weakening of state power and social protections, huge wealth inequality, and a power shift from our government to corporations is why there is so much turmoil in the USA
TomBilyeu4Freedom
OurName4Freedom WS
Yours, DanielHall4Freedom
Student loan debt keeps people from taking risks. Nome Chomsky talks about this and manufacturing consent. Now his point of view is more about politics but he says basically that the rulers of the system saw the upheaval of the 60s and '70s and the student movements and said to themselves if we indebt them to the system then they won't try to change it. I think this translates to everything though. If you have a ton of student debt the likelihood of you quitting your job and starting a business is very low.
Recessions are part of the economic cycle, all you can do is make sure you're prepared and plan accordingly. I graduated into a recession (2009). My 1st job after college was aerial acrobat on cruise ships. Today I'm a VP at a global company, own 3 rental properties, invest in stocks and biz, built my own business, and have my net worth increase by $500k in the last 4 years.
Let's face it... buying more stocks & index funds during stock market corrections and bear markets is scary. Which makes it really hard to do for most people like me. I have 260k i want to transfer into an s&p but its hard to bite the bullet and do it.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Her name is. SUNITA CHACHY JOSEPH . Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Tired of the "recession is coming!" threat. Recessive periods come along with equivalent market opportunities if you are well informed and equipped, I've seen folks amass wealth in the midst of economic turmoil and even pull it off easily in favorable conditions. Invariably, the collapse is getting somebody somewhere rich
Experienced the same thing. The financial counselor we met with last year told us, "Guys, you've already made it," even though my spouse has retired. Stop delaying enjoyable activities in life
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
I’m sorry I can’t! I’ve graduated college, worked in several industries, started several businesses - failed at several; went to a couple different trade schools. Got married, raised kids, got divorced and remained.
And over the past 5 years I’ve come to terms with the reality I’ll probably never be rich.
So I found a fulfilling job with pay that suites my life style and made a concentrated effort to develop hobbies and strengthen my relationships with my family and friends.
The end result is that I finally, FINALLY! I Reached a place of content happiness. Only to be told by a couple income elites that if I’m not a self employed millionaire it’s because I’m lazy and don’t meet the “minimum intelligence” and thus I’m poor?
How about we acknowledge that the system is broken if the common citizen is failing.
100%! Not everyone wants to be the king rat in the rat race!
Whoa....well said!
You said it very well..
"I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. 13 I can do all this through him who gives me strength. Philippians 4:12-13
Everyone wants to be an entrepreneur but need to realize that maybe they aren't built to be an entrepreneur but rather an intrapreneur and both can become wealthy we just have to be able to identify which one we situate ourselves under
Like a forest fire that wipes out the old trees to make room for new growth, bearish periods ultimately establish a new crop of stocks to buy and watch while setting the stage for a robust new uptrend.I have been reading articles of people that grossed profits up to $250k during this crash, what are the best stocks to buy now or put on a watchlist?
You’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
My CFA Lucinda Margaret Crist a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
― Henry Ford
parrots puke
This is the way
WE LIVE IN A SYSTEM OF 100% THEFT;police state USA
police state usa🖕
Very true 👍
Worked hard, took lots of risks. Built and ran restaurants and came down with an autoimmune disease that took seven years to discover. I am 61 years old, have lost the ability to work out, work hard which I love or even be on my feet for more than an hour at a time. I have lost almost everything and am still trying to figure out other ways to make my life purposeful and make money. Otherwise, I can’t even begin to imagine those who don’t know how to keep asking questions, creating and hope. It’s gettin harder but stay open and know that no matter what, you don’t know everything. Listen more and take responsibility for your reactions, even if you lose it for a minute. I love these podcasts and you are so great at talking to everyone and getting the best out of them but it is hard to hear these things when you are a single mother, are a minority, are disabled or many other circumstances that makes it hard to stay open to all possibilities and not lose faith. Thanks for bringing all the best minds to us and asking great questions.
I can very much relate to this. 48 with autoimmune issues, bulged 4 discs working in construction 3 years ago. Lost all my money, my home, and maxed out all my credit cards. Trying to start over by living in a VW van, but I’m having a hard time getting the funds together to pay for said van.
I have literally lost count how many people I have seen talk about how they have had autoimmune conditions and in their words, have been healed by the carnivore diet. Please don’t take this as gospel from me, please have a look at all the carnivore videos and person after person after person after person, it is endless, discusses those sorts of healing situations.long fasting also seems to give really good results.
I have one. I eat meat and fast. Sorry to disappoint, but it didn't help.@@willcook403
I've been recovering from chronic pain of the same nature and have seen a huge improvement with magnesium, beef organ complex, and a ketogenic diet. From everything I've learned about nutrition, there is a lot of crap in most of the food we eat. A big rule of thumb will be trying to get the least processed food as possible. Carnivore diet can be expensive, so getting trusted grass fed beef organ complex supplements will give you nutritional density and variety the same way a multi vitamin is with more absorbancy due to the supplement being closer to a natural source. I have been skeptical of beef organ and ketogenic for years and made the switch out of desperation. Haven't had a regret since. Hopefully there is something helpful in here for you folks.
I love hosts that bring on an amazing guest, and then proceed to do all the talking. 😂
51:00 My son is graduating from HS in a month. He always had to work for his pocket money. Fed up receiving an hourly wage, he started a car detailing hustle and just added window cleaning. He’s doing really great and is extremely proud of the money he earns. I actually mentioned to him Cody’s advice to start a “dirty” business because most people with money don’t want to clean themselves.
As an owner of a window cleaning/pressure washing business i know he can do really well for himself by doing the dirty work! It's really satisfying work too!
@@Ryan_Eggers Thank you for taking the time to share your experience. He does love it and compares it to meditation. He makes perfect stripes on the carpeting when he vacuums the inside of the car. 😅
Always fascinating to hear Cody!👍
I don't believe that I have ever contacted a celebrity, but I've listened to this twice and have really enjoyed it. As for my background. I was raised a Southern Baptist in the deep south. Fast forward 70 years, and now when the question is asked, what race i am? I reply. The human race.
Great show to the both of you!❤
just because harvard did the study, doesnt mean its legit as we have all seen
Totally with you on that.
Facts
All pleasurized!
Exactly! They can do the same study 50 times until they finally get the result they want and that last one will be the one you read about.
I worked as a carpenter for 10 years then opened my company about 13 years ago. You do much better on your own after about 5 years of building up your business. I opened a gym 4 years ago and just closed it because the construction is much more profitable and worth my time. I guess my point is investing in yourself and learning then once you understand business you can succeed in anything if you understand the market.
Might be your experience but not covering all bases.
construction is good when housing is booming, but I worked in architecture firm in 2008, when the financial meltdown happend, this industry was devasted, every peoject was put on hold or cancelled, millions jobs lost, the housing market crashed like crazy for years...
Yes, it’s great to be your own owner. But when people do not need our services (cannot afford) then what? It all trickles down.
The government doesn't just transfer money from the rich to the poor, it also transfers money from working class to the rich in paying interest.
it actually never transfers from rich to poor, it does transfer from lower middle class to the dirt poor, though. Rich don't "actually" pay taxes.
Absolutely! That national debt is only about 20% owed to other countries. Most of the debt counter parties are to US citizens who are the 1% who buy bonds.
Right I remember Reagan saying the trickle down will come to everyone! What a lie!
Ok that's untrue. I am regarded as rich by most metrics and I pay more in taxes than 98% of the populace. Also, monetary policy is designed to transfer wealth from the poor to the rich when increases in the money supply fail to increase the velocity of money (activity in the real economy) and thus result in asset inflation enjoyed by the rich. @@JustAnotherJarhead
They also transfer money from America to foreign nations.
I think that people forget that most of those drawing social security and Medicare have paid into these systems their entire working life. As a senior, I don't think that I'm getting a Social Security check because I need it. This is something that I paid for. Further, my Medicare premiums are higher than what many non-retired people are paying.
This argument of hers really annoyed me. Scapegoat the poor while enjoying all the benefits (incl. very low corp tax rate) of being a citizen in a country built and shaped (politically, socially, technologically) by those very workers and they're taxes. And trickle down? Are you joking, wtf. Libertarians are a special breed.
1971 $1 = 2024 $.02
This is one of the best podcasts I have ever heard.
Hard work is so overrated. I go through life trying to get the most benefit with the least effort, and it is worked out just fine. I was a truck driver and I retired at 33. I'm now 51
Smart man
good on you, these people are full of sh*t.
How did you do it?
Although that is super cool. I have a similar position myself, however that doesn't seem to acknowledge the point. You were a truck driver because of consumption, which comes from the ability to spend money which comes from productivity. So although in your case you are claiming "hardwork" therefore a version of high productivity is "overrated" I'd say it may be possible that your segment of transportation may be more unhealthy if people did not work hard or felt hard work was overrated. In other words, if you didn't work hard as a truck.driver, then you only made money because of others hard work therefore proving hard work is not "overrated" as it's rating has given you a job and retired at 31. Because of others you are able to not work hard you claim. Just walking through the ignorance that engulfs the state in which we occupy the area in and around the location in which you're able to be in.
Money is a metric but not everyone's metric. You generate your own metrics of your life, but you never get to make a metric for another. That's the beauty behind Life, Liberty and the Pursuit of Happiness. IMHO
"It matters not what puppet is placed upon the throne, he who controls the money supply, controls the Empire"
"When the Last Tree Is Cut Down, the Last Fish Eaten, and the Last Stream Poisoned, You Will Realize That You Cannot Eat Money."
But in our case, it will be the same thing when all of these are already owned and those who own them say "Lol, no, we don't want your money"
Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all, but just how long will It take to recover, or am I better off putting my money elsewhere. I need a lot as rent, inflation alone eat up almost all of what I make, with dependents and other obligations included. Tbh it's an uncertain year for me.
people calling stocks momentum a flunk aren't considering the long run. The companies themselves have not changed, it's the market that changed. Steady as it goes, and it'll regroup in weeks.
If you are not too savvy with the market, it’s the best time! just buy and hold on strong companies or best you seek out areas within sectors that can help you sustain a balance in both growth and value overtime. In certain cases, it's even wiser to speak with a smartvestor to determine options best meant for you, I personally did this, and it works pretty well..
Well Joe , my question is which stocks sectors should I consider adding to my individual fidelity, I intend to hold on for a decade or more.
right now I’m being focused on renewable energy, semiconductors, Ai chips which will be hugely integral on every sectors in the coming years. an absolute power move right now.
add Gold and silver as well.
I love to hear what Codie Sanchez has to say. I learn a lot from her, even if I disagree with her. Sometimes I'm right, but when I'm not, I learn something.
You already nailed it.
They have no desire to drop spending, because most voters are - frankly - idiots.
They will vote for whomever promises the most, so, we're just headed for an inevitable disaster.
Yes they vote in whoever will give them free money
Please point me in the direction of this mythical free money that anyone can have
Over half of our national debt is directly attributable to tax cuts for the wealthiest Americans and to fund unnecessary wars (The ME wars cost $ 10 Trillion alone). On top of that, we spend more on defense than THE NEXT TEN NATIONS COMBINED. Meanwhile defense contractors make greater profits than almost any sector and all paid for by taxpayers.
The problem is not who you vote for. The problem is that we live in an oligarchy / plutocracy.
@@JayClem-cf5vj We always have, and always will. That's human nature.
The question is, how do we minimise the pain of this reality?
This Video raises some crucial points about potential economic downturns and opportunities for wealth creation. I've recently come into an inheritance of nearly $900,000, and I'm being directed towards the stock market. What risk management strategies are recommended to navigate and safeguard my investment in the market during such uncertain times? Any advice from seasoned investors would be greatly appreciated!
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Jennifer Lea Jenson is my financiall advsor too; I'm truly grateful for her dedication and transparency.
What about investing in an IUL?
I hope no scammers come for you based on your inheritance comment
I love how the words economy and ecology have the same Latin root word, eco, basically translating to home, technically household. This shows me that we need solutions that are both economically AND environmentally intelligent.
She called California a 'failed state.' We sold all our business interests and fled Silicon Valley in late 2017. She is 100% right.
When CA state income tax was 10% we thought it was too high (so did most other people). It's now 14.9% and they talk of 16%.
Like any business when management is poor, people leave the firm. CA is astonishingly, poorly managed.
In the past, being a business owner - you knew that. These days most citizens know it.
LIFE IS SHORT! In the 'lower 48' there are several other states offering wonderful living environments - and zero state income taxes in many.
We moved to one, and it's been a huge blessing.
.
On the flip side, CA management is so bad that the chance of future management being better is pretty high. Everything reverts to the mean. If nothing else, your chance of slipping on black ice in the winter and dying from a PE secondary to your hip fracture is pretty low in CA.
Dont know yet but it seems like im getting ready to spend three hours hearing 98% of things I already know to be true. Not done yet tho...
Agreed, but it's nice to get confirmation in this current era of make-believe and ignorance.
It helps to have in the background while preparing my taxes
Oh yes, there is great value in all of Tom's guests. I enjoy listening and asking myself these questions. Quite humbling some days...
The point of a government is not to maxime profits it's to help their population. Extreme competition and a system where you can go from everything to nothing with 1 bad luck keeps everybody stressed and agressive, like your guest. Societies that distribute wealth better and where people know their basic needs will be met, are much happier and healthier. We need a massive change in objective and ultimate wealth is not the right objective
Something they could be done is to ban stock buy backs. If company’s weren’t buying back their own stock, which BTW elevates the stock price and allows the CEO’s etc to exercise their options and make scads of money, the company could use that capital to expand their business, improve their business thereby making more money, hiring more people and generally being more productive. That would big a HUGE deal.
That would mean that you would have to ban dilution of stocks as well. Which means they couldn't raise capital... which defeats the whole point of the stock market.
@@SmartestDumbGuyNo one likes their shares diluted. Like that ‘Social Network’ movie.
What you have to realize is instead of worrying about the big companies buying shares at a lower rate, focus on buying at that lower rate yourself.
People complain about what others do to make more money instead of focusing on what they can do to do the same.
Opportunity is available to us all! Most people just rather complain than take advantage themselves. 🤦🏻♂️
If company A says we are buying stocks back. Buy company A and the value should increase.......
Yep, but companies dont need to hire human beings any more. And they never will again unless politicians create policies to incentivize companies to hire human beings. In other words, we're fucked.
The solution is not to tax the very rich but to make sure that the rich do not use loopholes to avoid taxes. That will not solve the government's deficit spending problem completely. But it is fair that everyone carries its own weight.
Such a great , thoughtful and inspiring podcast. Tom you have a special way of lightly challenging your viewer after they finish an incredibly convincing and informative tangent that seems to need no further explanation which allows for a deeper understanding 🔥
INFLATION NEVER CAME DOWN. You have to measure in a cumulative manner we have been lied to in that regard
Right.
Exactly.
I think they changed the way they measure inflation. Now its based on CPI, or consumer price index, rather than good old-fashion inflation.
She literally talks about that. Listen to the episode
Inflation is to prices what acceleration is to speed. Both prices and speed will never come down if inflation/acceleration is not negative (ie deflation)
People don't feel they spend more. People KNOW they spend more.
Yes, they just don't fully understand why. If they did, there would be riots in the streets.
It's lovely to hear wealthy people saying we can all be rich with a little bit better hustle.
"Just get up at 6am and sell something everyday.."
So we all just need to sell things to people? When we're all hot, hustling sales people, who we going to sell stuff to?
Only a wealthy person would be blind to the fact that isn't a solution for the majority.
I'm surprised by the degree of privilege blindness here.
They know that not everybody's going to do it. Also, neither of them were wealthy to start with. But I understand your line of thinking. That's why I'm replying, but you're really not making logical sense. Of course they know that not every human being on the planet is going to start a business, buy a business etc. There's nothing wrong with them giving insights for those of us who want to take that route.
The thing wrong with their advise is that sometimes it boils down to "be the crab in the bucket who drowns the other crabs to escape". Some of us are a little too comfortable with that reality.
Just stop buying your daily lattes from Starbucks. I know that's a meme, but I'm serious. Say $8 for a Starbucks every day for one business week over a year. That comes up to $2080. Take that $2080 and put it in a Vanguard fund instead. Over 25 years, that $2080 will be worth over $20k.
Now keep this up for a 10 years and also apply this principle to all the other worthless junk you buy in a year. Frugal living is how millionaires are made.
It always surprises me how the self-made (new rich) are always the most dispassionate and ignorant about the lives and fears of the underclass.
I don't think anyone ever thought Jeff Bezos was hot
A nightmare generation, two hustlers gaming their world. Such fast talkers with so many easy answers. So bright, so wonderful. Selling courses I imagine to desperate members of their troubled age group with promises of great wealth. Over 40% of Americans can't come up with $400. I'm old, and relatively financially secure. Young people today are desperate for easy answers. There are none.
What a time to be alive that we can sit in on these brilliant thinkers conversations!
shrink the government, save money
MOST IMPORTANT COMMENT HERE. The OVERSPENDING AND DEBT AND INTEREST PAYMENTS WILL BE THE BEHAVIOR FOUND TO HAVE DONE MORE HARM THAN ANY OTHER.
It hurts to know that one should pay taxes but have no influence on policymaking unless one is among the top 1% and their lackey politicians.
The Department of Education is administered by the United States secretary of education. It has 4,400 employees - the smallest staff of the Cabinet agencies[5] - and an annual budget of $68 billion.[6] The President's 2023 Budget request is for $88.3 billion .
Quail snorting cocaine studies by the NIH is a perfect example of this
I transferred” my money as I paid into Social Security and am entitled to get it back. Period.
Yeah. Well. Good luck.
I love watching your channel, you do not stop asking questions smart people ❤, thanks.
look up The Diary of a CEO for the best interview questions, hands down.
@@JustAnotherJarhead and PBD
Love Cody... Just real people. All I try to surround myself with. Mad love and respect, stay free.!
The description that we are transferring money from people “earners” to “non producers” via services like social security and medicare is ignoring that we have been paying into that system so when we no longer are working, we receive those earned services. It is ignoring the fact that many of us have paid into those services via our payroll taxes for our entire working lives. We earn that, otherwise don’t tax me and let me invest that money to pay for my retirement income and medical care expenses. Taxing the rich appropriately and at the same level as the middle class to reduce the middle class tax burden gives the middle class more money to invest and grow our contribution to the economy. Stop concentrating all the wealth, the middle class can drive a productive economy.
Poverty is trickling up!
Usually poor people like to buy unnecessary shit and have to keep an image up despite being broke af.
@@minfilipino It is not just poor people who buy unnecessary shit. Middle class and rich also do that. Unnecessary for you may not be unnecessary for someone else.
Yep: the .01% are eating the 1%, the 1% are eating the 5%, etc, etc, etc.
Wasn't going to bother with this as I find all these doom recession podcasts clickbaity, but this isn't what the podcast about at all. It's actually the best podcast episode I've listened to in a while, both participants in top form for this. Felt I learnt a ton, and even a couple paradigm shifting moments. Great stuff!
Codie’s right and wrong about somethings just like every other human it’s the I know best delivery that can be challenging to listen to at times.
Well said
Challenging? I’ll go with insufferable.
On minute 39, My mother told me that hard work under your control is dignified but hard work under the control of someone else is drudgery. So I only working hard when I am under control of the outcome ( my own business) and no someone else’s.🤔
She's so stinkn smart. I Just love her. 😂❤
It's so stinkin' true. Learned more about business from her videos inside 1 small week than I have in my entire life.
Working through the night..does motherhood count? 😂 I would love to hear her advice for mothers. We’re experiencing the fact that households who need 2 incomes, yet society is not structured around children’s school schedules. Aftercare is difficult to find in my area, a big city. What can mothers do build their wealth in their 30’s? I feel like those of us who have a family are limited because we’re caught between doing what we feel is right for our kids, yet trying to financially do what is best.
This! Thank you!
Real shit
Thats a such a real dilemma. I’m not a mother so I’m not familiar with the limitations to this idea but from what I have seen from successful families with a stay at home Mom, creativity is so important and the opportunity to build a business from home. I have seen a Mom do a birthday party design/planning. Another example of creating children’s clothing out of their garage. Sorry if that’s not helpful I just figured I should share it with you.
This! ⬆️ I'm okay with working through the night, but when 1 of the 3 babies are waking up every 3 hours, I don't get much done.... then having a baby every 2 years, this lack of sleep has been happening for about 6 years....lol
Not complaining because I love my babies more than life and this is the route of life that I have chosen.
Although I am very work driven and working hard to run my business, yet juggling both, I'm treading and exhausted.
I keep telling myself if I can make it through the next year, the sleep may get easier and I can dig deeper and harder on work again. It's hard as a mom! And honestly, even myself, nobody knows how a mom has to work unless you've then turned into a mom.
We can still work hard and have grit, but we are working a 2nd job 24/7 as well.
Anyways, I agree with a lot that CS mentions and I love her.
Mom's, we can still do this. ❤
I don't think it counts because the question wasn't when you "had to" but did it because you wanted to. If you don't feed your kid, they die. You're not doing it as a hobby or passion, it's a need. You'd be doing it whether you enjoyed it or not, just like anyone else. That's not really monetizable business, it's just what all parents have done since the dawn of time. Now if you're so "in the zone" working on a concept or idea that 8+ hours go by and you're still working on it purely because you belive in it and are passionate about it, that's something you can turn into a business. That's a skill you can use on other projects which can lead to revenue. Many artists and business owners do this. The average person rarely, if ever, does it.
up to 13 mins focusing on government spending into social security, there's also a wealth transfer into inefficient companies, banks etc
You are watching two wealthy people have a discussion. What else did you expect? Everything that takes money out of their pocket is deemed inefficient. They just blindly assume all wealthy people are doing efficient things with the money and therefore "redistributing" anything away from those wealthy people is bad.
@@henrythegreatamerican8136 I mean, I like a lot of what they're talking about. CPI is kind of rigged, inflation is a wealth transfer away from workers, quantitative easing is also a wealth transfer, the main path out of it is to start a business, or something. But, to hyper fixate on THE POORS SUCK for as long as they did, felt pretty disingenuous
History shows that financial markets follow repetitive patterns. In his book "Grand Time", Artur Grandi offers a clear-cut strategy for stabilizing investments and identifies opportunities for investment, including in cryptocurrencies.
She sees what the main problem is now,government & corporations have so much control in so many ways that individuals even rich ones have little say so in the operations of them to make dramatic change if thats what you want.
This is exactly why MSM is so vapid. Here are two individuals who have figured out how to be successful and can articulate their lessons learned well. Those listening to this have been given a great deal of Insight to improve the direction they can go next. Listening to these two has been time well spent.
No one is ever completely self-made, I am sure the two of you didn't grow up in the slums of Africa. Your background and connections make a big difference in what you have achieved in your lives.
Elon Musk came from the slums of Africa
@@chrisaiello4896Everything is IQ-determined. Elon Musk most likely has an IQ of above 160.
The guest in this show and Tom certainly do not have an IQ higher than 140, if not much lower.
@@BBshark000incorrect. Everything is not IQ driven. If it were the world would be a well oiled machine and it isn't.
@@BBshark000 It is not just IQ it is "grit" too. You have to have some risk taking, some drive, some stick to itivness, etc. And still, 90% of businesses fail. So you must be willing to fail multiple times.
@@chrisaiello4896 Elon's father owned a emerald mine. Elon doesn't like when people know he's not a rags to riches story.
they got rid of a lot of the profit sharing in the 80s and 90s and that’s one of the reasons why we are in a non-motivational situation at this point in time
Yes Marketing and accounts took over. HR used to have a bigger voice. They diversified, re-engineered and fucked their employees. Outsourced , created contracts and then sacked with a day's notice. Here in Aussie they created "workplace agreements", dispersing all the progress Unions had fought for previously on behalf of those who laboured. Shareholders became the new kids on the block, distorting the true value of products , manipulated by the bigger traders. So this notion of a "free market" regulated by supply and demand is an ancient and deeply corrupted mythology. The system is collapsing. Blaming the social safety net so pathetic in the USA seems to be an articulate version of scapegoating. "Look in the mirror might be a more honest strategy. Many of these economic theories that are considered "truth" were developed by colonisers, slave traders and corporate raiders, or isolated intellectuals living within a virtual reality. There are nuances of course. Subtleties but that would require a dissertation. I have traversed many "stratospheres" of society economically in various cultures, most significantly Australia, USA, Holland and England. Hard not to "smell a rat" when the division between the wealthy and those who survive on minimal working class wages or heaven forbid (sarcasm here) social security widens exponentially. I simply laugh at the first world dilemma of having money to invest. A huge proportion of people in our world are struggling to get food. Lets have some guests on the show who are representing "the Common people". Let's hear more about co-operative economies as other revolutionary ideas.
Social security is NOT transference. We paid for that. Remove that from your graph and then we can talk. I used to teach graduate biostatistics. I know when someone is trying to hide information. At least define what is included in each of the four categories.
SS is a ponzi scheme.
It's arguable whether the amount payed in is worth what gets payed out when factoring changing rates of inflation. Future generations are paying for it too and it's unlikely to survive the size of the boomer generation. So imagine paying for something you know you're never going to get...simply because of demographics. Our population is shrinking...not growing.
It's supposed to be a net...as in addition to other retirement income streams...not the sole source of retirement income.
@@micmccond7 Yes, I’m well aware. I’m one of those who won’t be getting much from SS. I paid into the system from age 16 - 45 but many of those years were lower income so didn’t qualify as counting towards the 30 year minimum. Good thing I wasn’t relying on that and have my own side businesses now because it would have not been there for me, very scary. Fortunately eleven years ago, at 45, I switched over to a job with better retirement so that pension will be there in addition to my 2 businesses. Regardless, my initial comment remains true about her graph.
@@hfortenberrywhat job did you switch to? Teaching? I’m considering a similar change.
@@Zannathin I moved into Information Technology (my other passion) working for a county that uses the same pension as our teachers.
58:14 So good to hear that it's about our mindset! Enjoy the hard work > complaining will be the best determinator of our success in buying a business.
Omg the jab at 'trauma in the hips' has cemented my love and admiration for Codie 🤣🤣
And I say that as a psychotherapist and yoga teacher. Pathologizing the living shit out of normal human experiences is hurting society.
How about an episode on how we can construct society to work for everyone.
Not everyone in a society can be rich because.... Inflation
Maybe businesses should put employees first over shareholders for example.
Working yourself to death is not a good answer
Straight up doesn’t work. All luck.
You (and your fellow effort, pain and risk-avoidant collectivist comrades) are guaranteed to be a failure. You want other humans to sacrifice their efforts/income for your benefit. You are preaching parasitism.
i'd guess the only way that works is in a post scarcity economy. Communism and socialism is an abject failure. Sadly, capitalism is the best thing we have for now
Look into the Zeitgeist Movement and The Venus Project .
@@hardleecure capitalism can be REGULATED.
Limit bonuses, limit dividends, 100% tax over 10 million $
There ARE solutions ! If they don't like it fuck off to China see how that turns out, Bezos/Musk/Peter Thiel
This conversation is priceless! Thank you so much and please keep up the great work!
Alot on this channel is "get up and work harder and smarter, sell stuff and improve your business!!" Well what about the most of us which work in other fields and you, business people are completely depended on? Its often a bit too much one sided to business and selling etc
(The channel isn’t for you)
It''s the pathy, that's why I find myself having to explain all this stuff she should have learned as a child.
Some economists have projected that both the U.S. and parts of Europe could slip into a recession for a portion of 2023. A global recession, defined as a contraction in annual global per capita income, is more rare because China and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.
Tom, raising the retirement age is the not the only way to cut expenses. And SS is an expense that should never be cut.
Government salaries should be cut as they extremely over paid. I had a girlfriend who became a teacher and at the graduation ceremony, the parking lot looked like a Mercedes Benz dealership. Corruption and theft at its finest.
We all paid into social security...it is not an expense!
Cut social security. You Boomers don't deserve it.
SS is a Ponzi scheme. Look up Milton Friedman. Explains it perfectly. His book Free to Choose, is also great.
The government used up the original “deposits/thefts” and the young are paying for the elderly (and it’s transferring the young, working, lower class money to the upper class elderly)… his example: a man graduates or drops out of high school goes immediately to work and makes middle to low wages and pays into SS from age 16/18 meanwhile the liberal, upper class woman is sent to college by her family doesn’t work until mid to late twenties 22/28 (so doesn’t pay in until then) and because of degree (assuming not a useless one and not counting she may or may not have any extraneous loans bailed out) makes more and would live longer while the lower class usually have a harder time living longer so the young dropout doesn’t even get to use his “pay-in/theft” while the liberal woman will be using his.
What would be moral would be to keep more of what one makes rather than having it stolen as taxes and spend/save it however an individual (rather than a faceless collective/AOC/Pelosi) decides. Freedom and choice. Moral.
SS is an unethical system exemplifying the moral decay of a culture.
Social security is simply a ponzi scheme, that will be inflated away with everything else.
Problem is not that state is providing a lot of free money and wellfare to the people though in the USA. Its just that ur system is ineffective:
An array of usage and billing requirements from multiple payers makes it necessary to hire costly administrative help for billing and reimbursements.
Americans pay almost four times as much for pharmaceutical drugs as citizens of other developed countries.
Hospitals, doctors, and nurses all charge more in the U.S. than in other countries, with hospital costs increasing much faster than professional salaries.
Prices for drugs and healthcare are partially controlled by governments in other countries, but in the U.S. prices depend on market forces.
I love Codie Sanchez! She's very smart, business savy and put together well for a world that's hard and a woman that doesn't give a damn about that. She's independent and has great work ethics.
Thank you Tom🎉🎉🎉🎉
What is the your meaning of the dog tag you are wearing?
🎉🎉🎉🎉
What an amazing conversation ! Makes me optimistic for our future listening to this.Que Profundo !We now have our best people working night and day on these issues.
Thank you , your information is helping people to improve their lives and make informed decisions and choices in their lives. You are believable ❤😊
Grit, as defined by Angela Duckworth, refers to perseverance and passion for long-term goals. It encompasses two main components: consistency of interest and perseverance of effort. Intellect, on the other hand, generally pertains to cognitive abilities, including reasoning, problem-solving, and understanding complex ideas.
Studies have shown that grit and intellect are related but distinct constructs. While there is some correlation between the two, they are not the same. Grit can contribute to success independently of intellect, as it involves qualities like resilience and sustained effort, which are not necessarily tied to cognitive abilities. In other words, a person with average intellectual abilities can achieve significant success through high levels of grit, while someone with high intellectual abilities might not reach their potential without perseverance and passion.
Therefore, while grit and intellect can complement each other, they are not inherently tied together. A person can possess high levels of one and not the other.
We’re not spending on defense 😂 9:14
Cody is so smart. We need to tell our government to buckle down. That should come first
#CodieSanchez was one of your top 3 interviews of which I has listened to so far on your podcast #TomBilyeu. Thank you Tom and Codie.
When I was a kid I was called dumbo because of my ears too. One time when my friend had called me dumbo and i responded at least I can fly. He then responded saying if you don't quit pissing me off I'm going cut one of your ears off so you'll only fly in circles.... I had no response to that.... anyways great video, very insightful! I love listening to these pods.
Lmao. I think I learned something from your story.
Don’t we pay into social security? We should get what we paid in when we retire.
No they just make it ridiculously hard for those who have earned it to live on it and cap extra earnings so they can give it to who they want!!
Robert Reich says there is plenty of money. Corporate Socialism,fake inflation prices. Covid was a smash grab! Robber Barrons destroy every country, eventually & so it goes,over& over😴
SS is grocery money at retirement at this point. And I mean bread and milk, thats it.
"Payments to Individuals" = people who have paid into Social Security for their whole lives. The entitlement with these two is crazy.
The average social security recipient gets hundreds of thousands more than they paid into the program. It is and always has been a ponzy scheme
Yeah, raise retirement age to 100. That'll motivate the serfs!
Lol
If it is a series of fulfilling jobs without toxic people along the way , it's OK to work till 100 years of age. But the reality of working life is just too much grind and pain.
Revux's innovative approach to AI and investments got me hooked
#1 love Codie Sanchez ❤… in less fancy talk do away with food stamps/snap guarantee food prices will dramatically drop. I grew up in a neighbor hood were snap benefits traded 2 for 1 for cash an d drugs.
Tom, i dont watch impact theory much anymore because 3+ hours are just too long. I loved your denser, 45min vids and i would watch those on repeat
Also miss your epic intros for those people
I was surprised that both of them thought gold was $1000 per ounce.
🤣🤣🤣
Wtf 😂
Makes you think about all the other things they say and believe doesn't it?
Also weird that he thought gold was $35 in the 1980’s when it was probably about 10x that
@39:44 truths that 1 extra hour puts you ahead. Being in software engr school at age 40 I saw smarter younger ppl give up earlier and yeah I got better grades and better jobs
This is awesome and inspiring. I thought about buying a small business but doubted myself. Now I am going to do it.
One of the best insights I ever hear: "How to store energy for long term"
No one gets to tell me what success looks like, I have to define that for myself, if I don't do that I'll achieve 'success' and be miserable. I'm not a good leader, I've no desire to be a leader. I am a good manager and I am much happier and skilled at finding a leader I believe in and managing the niff for them. We both win. Of course I need to have a clear understand my values to ensure I am working for or with someone I believe in.
Technology has been destroying Community.
New Jersey has 25% of high school students dropping out of school!!
The purpose of taxing the rich isn't to finance government expenditures or wealth redistribution. Taxing the rich is a strategy to prevent the corrosive accretion of extreme wealth in the hands of a tiny subset of the population. Since functional democracy is incompatible with extreme wealth inequality, imposing high taxation on the rich could safeguard democracy from the corrosive influence of wealth and the drift towards plutocracy.
Solid point, unfortunately we have already passed that threshold which is why our system is as corrupt as it is. Corporate media, bought and paid for politicians, 'two' party garbage system, everyone is fat and sick, most of our food is overly processed poison, the wealthy skirt billions in taxes, we pay more for healthcare than any other developed nation with atrocious outcomes.... it goes on and on and on.
2:05:27 Best entrepreneurial advice I ever got, just have something in your back pocket! Amazing discussion!
I think it's an excellent point she makes about not identifying with an idea/ideology/opinion. If we can avoid that it can allow for better debate and progress
“Businesses don’t wheel back their prices” … yes, and employees do not take pay cuts and electric companies don’t cut their prices and governments don’t reduce taxes and… almost nothing goes down.
Businesses can and do cut back their prices if they can. A service based company can reduce their prices by accepting less. A product based company or service may need to substitute for a different component. I’m just saying that it is possible and done.
strange to hear rich people talk...bottom is so low. middle income has been decimated. their is no safety for those at bottom. as no one can keep up as it is. system is rigged.
Do you get the point? They are not rich because they have the air in their name. But because they found a way to use their mind! There is no money measurement in tha. Start thinking differently, money follows that.
yeah, they briefly mentioned how money printing, quantitative easing & CPI is rigged; it's rigged to transfer money away from the employed, you're getting paid less and less as the years go on, it's hitting a breaking point, for sure, when most of us cannot afford to be housed with just our single family
Try imitating successful people instead of slandering them. You'll have a much better life.
@@johndoe1.196 i did not slander them. nor did i say Tom or his guest are rigging the system or part of it. they are rich. fact. they work hard to earn that level of wealth. fact. but those at bottom of the food chain have infinitely harder time getting into a better position. also i watched the video listen to all issues they raised. based of that i made assertion. which is accurate imo that middle class will be destroyed. those at bottom no why to hedge themselves from coming financial waves. u cant compare their financial level to most people. fact their is very little for common man to do to protect themselves in this market.
@@businessvideocoach4363 strange to see people get offended on behalf of people they have never met. i know they made their wealth themselves. its still a exception its not the the rule. most people current financial state debts etc. makes it impossible for themselves to hedge or protect themselves. ergo why i vented, middle class is being ruined and those at bottom have very little options. the game is rigged; Tom and his guest actually explained so many of the factors showing how wrong it all is runs. i never slandered them. gave mi opinion. what is ur point > ?
Tom, the US government raised the retirement age. Recently, I was born in 1963 and I was going to retire at age 65, now they've changed it to age 67 if I want to get 100% of my Social Security payment. So your theory is wrong that because it did not work in France, it can't be done here. They already did it here and the propaganda Legacy media covered up the story.
Elections have consequences
You should be able to retire at 55 . 67 is ridiculous
Damn she's good; Elucidates sharp and to the point. Really enjoyed hearing her perspective on social strata & current economics
The redistribution is largely NOT driven by humanitarian impulses but rather by fear - the uprising in the streets that would result if the money spigot is shut is an unspoken fear
Man I was really hopeful with this one... then she had to go and put ALL the blame on the government helping citizens while promoting that they need to spend more money instead on the war machine 🤦🏽♂️... I get we could do better on how the government spends. But being pro war above helping its citizens, is a problem.
Well there is a world War coming
I’m watching you show for the first time today and you have a lot of great 👍🏾 information and knowledge love your channel thank you 🙏
The crash is always coming, always has been and always will . They saying this 3 years ago and people missed out on doubling there money over that time😢
"Be afraid! You all taste so much better when you're afraid!"
-Pennywise the Clown.
A leaking dam will definitely collapse but, no one can predict the exact moment.
❤❤❤
Knowlegde alone is not power; it is the execution of knowledge that creates power. Just say'in.
The best explanation on the path to wealth for the average person I have ever heard.
watching this as a european (german to be specific) makes my head shaking all the time... I find this (american) view from the rich close to absurd. The whealth gap is nowhere bigger then in the USA and the rich people pay a lot for protection (gated community), trickle-down theory is non-sense and the lowering of taxes in the last 20(?) years has not lead to the (projected) goal, yet you argue that higher taxes make no sense... crazy to understand for (probably) most europeans...
I have a lot of friends that are taking retired young because they are taking advantage of the system.
Just had a buddy yesterday tell me that he knows he is being lazy... but he can't stop because the free help is there.
The rich pay 90% of the tax.
I used to make 2 million a year. I got tired of paying so much in tax so now I shrank my company and fired everybody and retired at 30. That's what the tax code does... it dis-incentivizes the job creators. You want to raise taxes more? We will just quit and relax... then what will you do for work?
higher taxes don't actually solve anything. We just spend too much here on Gov't, but I looked at Deutschland as well, you guys spend too much on Gov't as well.
@@JustAnotherJarhead that is very true unfortunatly... my general view is: regardless how fair/just any economical system may be, if the result is, that there is a (too) big in-equality in life, that cannot be a sustainalbe system. You can't live as a single billionaire surrounded by only poor people...
The problem is what our taxes go to. Why should anyone desire to put more money into a system which doesn't achieve the desired outcome? If our tax money isn't going to the projects we desire, if our streets are unfixed, infrastructure collapsing, etc. Even with all of the money, the MASSIVE spending rate that we already do have, how would giving MORE money into that broken system fix anything? The issue is not the rate of taxation, it's the allocation of those resources. Our money is being used in programs the majority would never approve of if we had a direct democracy system and could vote to allocate exactly where our tax dollars go.
@@devon.dulaney I couldn't agree more with you! What you write, is unfortunatly true in most countries around the world...
Its not about who is best at making money. Its about creating a happy community for all.
Prosperity goes hand in hand with happiness. Every problem you can have is made worse by destitution.
What are you talking about? Making money directly means you’re adding value
The problem with your statement is he lives in California! Everyone is taxed to death in California. If you own a home, car even when you buy from any store in California in store or online you are taxed. There is no tax evasion in California unless you are a cash only business in which case you avoid some of the taxes but not all taxes. #getsmarterquick
A couple of people just chasing more and more money. Why? To what end? How much money do you need? Enough to pass down to who? Your kids and grandkids? So they can squander it away? Unless it's like the movie 2012 and you're in some exclusive club that gets you a VIP ticket to a life raft, I don't understand the goal. Becoming super rich doesn't impress anyone but you. 100 years from now, we'll all be a complete nothing.
That is very wise ......and utterly "Un-American"
Stay broke my friend!!
I hike and do extreme expeditions sailing. I don’t poop in a bag. It’s biodegradable. Use a leaf or snow for TP and all is good. I have a love hate relationship with Ted Turner.( Jane Fonda probably)
They are blinded by their wealth and hide behind it. This needs to change.
Ever had medical bills you have to pay out of pocket? If you get really sick you will kick yourself for not having enough
This lady is hit and miss all over the place.
Romance 💕 Honestly even healthy relationships are haaaard. While I absolutely think boundaries are suuuuuper important. I think society these days promotes a very black and white existence (regarding most things). When in reality most things exist on a spectrum and we need to be willing to work through or own and our partners issues. No one is perfect solo or in a relationship. But hey, anything worth having is worth fighting for ❤❤❤ I’m so glad to hear that you brought up the doubts you were having about your current relationship and that the two of you can talk about it and work through it. Thats a really good sign if you ask me. Love you and wish you all the dating luck!!!! 💕