Australian Politics Forum - What the poor dont Understand about wealth.

aquascoot

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What the poor dont Understand about wealth.
Jan 1^st, 2025 at 3:38pm

i often see white knight asking for various benefits to be increased.

does this help the poor?

when the government just print money and hand it out , the poor spend it and at the end of the day, have not increased their wealth

wealth is about holding assets (real estate and shares in profitable companies)
rich people understand that you concentrate on assets not money

what happens to assets when the government print money
they go up

we have seen real estate double and the stock market double in the last 7 years .

all that extra cash is enriching the already rich and does nothing for the poor.

what would be better for the poor then cash?

assets!!!

i support superannuation as one way to increase the wealth of the poor (super holds property and shares).

but increases in government handouts do one thing.

they make the rich richer because the money is spent, and those with the assets reap ALL of the long term benefits

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Bobby.

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Re: What the poor dont Understand about wealth.
Reply #1 - Jan 1^st, 2025 at 3:53pm

It would help the poor if Albo didn't piss all our money against the wall.

$450 million on a YES vote.

$365 billion on 8 nuke subs when they only cost between 5 to 10 billion each.

$1.2 billion to Ukraine when we are nowhere near Europe.

45 Taipan helicopters bulldozed into the ground when Ukraine wanted them
and there was nothing wrong with them -
just the Australian designed helmets caused the trouble. Roll Eyes

https://www.theaustralian.com.au/special-reports/taipan-helicopters-gone-but-not...

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« Last Edit: Jan 1^st, 2025 at 3:59pm by Bobby. »

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Sir lastnail Gold Member Offline Australian Politics Posts: 30090 Gender:	Re: What the poor dont Understand about wealth. Reply #2 - Jan 1^st, 2025 at 3:57pm
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Bobby. Gold Member Offline Australian Politics Posts: 105534 Melbourne Gender:	Re: What the poor dont Understand about wealth. Reply #3 - Jan 1^st, 2025 at 4:20pm Sir lastnail wrote on Jan 1^st, 2025 at 3:57pm: Excellent video Nail. Children born this millennium will never own a house unless their parents buy it for them.
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Bobby. Gold Member Offline Australian Politics Posts: 105534 Melbourne Gender:	Re: What the poor dont Understand about wealth. Reply #4 - Jan 1^st, 2025 at 4:38pm
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Leroy

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Re: What the poor dont Understand about wealth.
Reply #5 - Jan 1^st, 2025 at 4:50pm

Bobby. wrote on Jan 1^st, 2025 at 4:20pm:

Excellent video Nail.

Children born this millennium will never own a house
unless their parents buy it for them.

Staying with rellies in Italy most people live in 3 storey homes and each level is a generation of that family. As one generation passes another takes its place and so on. They don't have to purchase their own home so there is no pressure to pay a mortgage. Each persons ability to earn money dictates their lifestyle.

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Every day you wake up is a good day, make the most of it.

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aquascoot

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Re: What the poor dont Understand about wealth.
Reply #6 - Jan 1^st, 2025 at 4:57pm

heres a simple example bobby.

say the government increase the dole by $50 a fortnight (borrowed money of course, they arent increasing taxes to pay for it).

now the person on the dole owns no shares, owns no real estate.

they have a bit more cash so their landlord can now squeeze a bit more out of them for rent.
and the might buy some coca cola, go to maccas, go to woolworths and spend their extra 50.
they wont save it (probably).

now who owns the rental property, who owns shares in coca cola amatil and woolworths?

a rich guy (maybe me

).

so i just got more wealthy

the poor person did not

the government pretend to be helping the guy on the dole but without him owning any assets, the government is just helping me.

you know what?

i cant spend what i already have

i'd rather they helped the poor.

maybe set up a super plan for those on the dole and put the $50 in that.

that wont help me but it would actually help the poor

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greggerypeccary Gold Member Offline Australian Politics Posts: 138004 Gender:	Re: What the poor dont Understand about wealth. Reply #7 - Jan 1^st, 2025 at 5:00pm You can't eat or drink an asset.
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Leroy

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Re: What the poor dont Understand about wealth.
Reply #8 - Jan 1^st, 2025 at 5:07pm

aquascoot wrote on Jan 1^st, 2025 at 4:57pm:

heres a simple example bobby.

say the government increase the dole by $50 a fortnight (borrowed money of course, they arent increasing taxes to pay for it).

now the person on the dole owns no shares, owns no real estate.

they have a bit more cash so their landlord can now squeeze a bit more out of them for rent.
and the might buy some coca cola, go to maccas, go to woolworths and spend their extra 50.
they wont save it (probably).

now who owns the rental property, who owns shares in coca cola amatil and woolworths?

a rich guy (maybe me

).

so i just got more wealthy

the poor person did not

the government pretend to be helping the guy on the dole but without him owning any assets, the government is just helping me.

you know what?

i cant spend what i already have

i'd rather they helped the poor.

maybe set up a super plan for those on the dole and put the $50 in that.

that wont help me but it would actually help the poor

You wont make people rich by giving them money, Education is the only thing that can fix it. I'm talking about educating our children about money and living within your means.

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Every day you wake up is a good day, make the most of it.

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Leroy Gold Member Offline Australian Politics Posts: 762 Gender:	Re: What the poor dont Understand about wealth. Reply #9 - Jan 1^st, 2025 at 5:08pm greggerypeccary wrote on Jan 1^st, 2025 at 5:00pm: You can't eat or drink an asset. Have enough assets and you can eat and drink whatever you want.
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greggerypeccary

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Re: What the poor dont Understand about wealth.
Reply #10 - Jan 1^st, 2025 at 5:17pm

Leroy wrote on Jan 1^st, 2025 at 5:08pm:

greggerypeccary wrote on Jan 1^st, 2025 at 5:00pm:

You can't eat or drink an asset.

Have enough assets and you can eat and drink whatever you want.

That doesn't apply to the people aquascoot is talking about.

"What the poor dont Understand about wealth."

The poor often live hand to mouth.

Giving them assets is a wonderful idea, but they need food and shelter to survive.

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aquascoot

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Re: What the poor dont Understand about wealth.
Reply #11 - Jan 1^st, 2025 at 5:33pm

average income world wide $8,700 per annum
aged pension $ 29,700 per annum.
unemployment benefit $21,700 per annum
our poor need money diverted into wealth creating assets

they dont need more money for discretionary spending (unless you want me to get even wealthier and i dont need it)

i would add, i think those 2 payment totals need to be flipped.

ie give

29 k for the unemployed
21 k for the aged pensioner

the elderly dont need as much money , they are winding down but an unemplyed person has expenses around looking for work

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greggerypeccary

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Re: What the poor dont Understand about wealth.
Reply #12 - Jan 1^st, 2025 at 5:45pm

aquascoot wrote on Jan 1^st, 2025 at 5:33pm:

average income world wide $8,700 per annum
aged pension $ 29,700 per annum.
unemployment benefit $21,700 per annum
our poor need money diverted into wealth creating assets

they dont need more money for discretionary spending (unless you want me to get even wealthier and i dont need it)

i would add, i think those 2 payment totals need to be flipped.

ie give

29 k for the unemployed
21 k for the aged pensioner

the elderly dont need as much money , they are winding down but an unemplyed person has expenses around looking for work

Tend to agree with you there.

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Leroy

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Re: What the poor dont Understand about wealth.
Reply #13 - Jan 1^st, 2025 at 5:58pm

aquascoot wrote on Jan 1^st, 2025 at 5:33pm:

average income world wide $8,700 per annum
aged pension $ 29,700 per annum.
unemployment benefit $21,700 per annum
our poor need money diverted into wealth creating assets

they dont need more money for discretionary spending (unless you want me to get even wealthier and i dont need it)

i would add, i think those 2 payment totals need to be flipped.

ie give

29 k for the unemployed
21 k for the aged pensioner

the elderly dont need as much money , they are winding down but an unemplyed person has expenses around looking for work

Pensioners would just go on unemployment.

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Every day you wake up is a good day, make the most of it.

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Bobby.

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Re: What the poor dont Understand about wealth.
Reply #14 - Jan 1^st, 2025 at 6:51pm

Leroy wrote on Jan 1^st, 2025 at 4:50pm:

Bobby. wrote on Jan 1^st, 2025 at 4:20pm:

Excellent video Nail.

Children born this millennium will never own a house
unless their parents buy it for them.

Staying with rellies in Italy most people live in 3 storey homes and each level is a generation of that family. As one generation passes another takes its place and so on. They don't have to purchase their own home so there is no pressure to pay a mortgage. Each persons ability to earn money dictates their lifestyle.

Wogs are smart like that.

Next door to where was living living once -
the Wogs from Italy built a large granny flat for their parents.
When their parents died their kids moved in to that granny flat.

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