The less money we have... the more they have?

[OddBeMe]

I hate contributing to the us and them rhetoric... but this is getting ridiculous.

Yes

No

Updates

1 y

Defending not saying super rich give more than regular civilians. But I think you need to be above the stress of the day to day to care.

Updates

1 y

There are studies that prove poor people donate more time and money, percentage wise, than rich people.

[msc545]

Yes, and we all allow this to happen by making laws that favor them and tolerating circumstances that favor them instead of doing things to favor ourselves. We keep fighting amongst ourselves which gives them plenty of time to figure out new ways to get more and more of our money. We keep electing people that favor the rich and have utter disdain for people who aren't rich I don't mean to disdain just for poor people. I mean disdain for anybody they don't consider to be rich and that's a pretty high bar to pass.

[DryGermanGuy]

"It's a zero sum game. Somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred... from one perception to another. Like magic."

- Gordon Gekko, Wallstreet

[goaded]

The trouble is that it's not a zero-sum game. When banks take in $1 of your money, they get to loan out $30+ to other people who have to pay interest (at a much higher rate than the customer gets). So they only have to get about one loan in 60 be good to stay even, anything over that is pure profit.

If they screw that up, the government bails them out.

The US currently has more weath inequality than pre-revolution France...

[exitseven]

The CFPB was created mostly to give Gen. Petraeus's wife a cushy 6 figure job. I applied for job there and was amazed at all the hacks and insiders that were stashed there, all with their noses planted in the government trough. I ask the people of GaG , has the Consumer Financial Protection Bureau ever did anything for you?

[goaded]

$21 billion+: Amount of monetary compensation, principal reductions, canceled debts, and other consumer relief resulting from CFPB enforcement ($19 billion) and supervisory ($1.7 billion) work.
205 million+: Estimated number of consumers or consumer accounts eligible to receive relief from the CFPB’s enforcement and supervisory work.
$5 billion+: Civil money penalties imposed by the CFPB on companies and individuals that violate the law. Civil money penalties are deposited into the CFPB’s victims relief fund (also known as the civil penalty fund), which provides compensation to consumers who have been harmed by violations of federal consumer financial protection law.
$6.1 billion: Estimated amount consumers will save every year due to recent changes in banks’ overdraft and non-sufficient funds (NSF) fee policies. The CFPB's most recent analysis found that the decision of most large banks to eliminate NSF fees will save consumers nearly $2 billion annually.
$363 million: Monetary relief resulting from 39 public enforcement actions that involved harm to servicemembers and veterans, including six enforcement actions for violations of the Military Lending Act.
22.8 million: The estimated number of people expected to have had at least one medical collection removed from their credit reports after the three nationwide consumer reporting companies announced
the removal of medical collections under $500 from consumer credit reports in April 2023. In March 2022, the CFPB released a report drawing attention to the complicated and burdensome nature of the medical billing system in the United States.

www.consumerfinance.gov/about-us/the-bureau/

[exitseven]

@goaded somebody that was hired with a big salary wrote this work of fiction. This is a do nothing agency that line the pockets of political insiders.

[goaded]

There's literally no fact you won't ignore, is there?

[WindAtMyBack]

"The less money we have... the more they have?"

Wrong. It's not a zero sum game. It just doesn't work that way.

[OddBeMe]

It is actually. It's a pie graph. There's no magical supply of wealth

[WindAtMyBack]

Wrong

The super wealthy don't get their money FROM people (zero sum). They increase their NET WORTH, which is very different than MONEY. They increase their net worth because so many people have so much money (disposable income). The more actual MONEY that other people have, the more the NET WORTH of the wealthy increase.

The net worth of the super wealthy is closely tied to the disposable income of the average person. The disposable income of average people is what drives stock prices.

[lightbulb27]

if people keep buying his stock and products then he gets more money as the value of his shares increases.

ride your bicycle and invest in art work.

problem solved.

[Anonymous]

People generally become billionaires buy creating a Good or service people want to buy because it enriches them.

[dustybiker2]

Pay very close attention to what "interests" them.

[SolitarySolace]

Pretty sure that’s fake news

[seeyounexttuesday]

You’ve moved into just posting opinion pieces now?

[katiesmuff]

Yes it is for sure.