Financial policy is very specifically against people saving their money though - that's why a certain level of inflation is considered desirable to mainstream economists. Spending and borrowing is heavily encouraged at all levels, while investment opportunities are gated based on wealth and income to prevent the poor from being able to "work smarter".
> investment opportunities are gated based on wealth and income
Anyone can install robinhood on their phone and trade using their credit card.
> Financial policy is very specifically against people saving their money
No, it isn't. People who save money are terrified of risk. There's nothing stopping anyone from investing the money.
> that's why a certain level of inflation is considered desirable to mainstream economists
That's the excuse the government makes to inflate the money. You'll never see a politician point out the real reason for inflation. It's so they can spend it without raising taxes, but it does cause inflation, and inflation has to be blamed on something else. Anything but the truth.
> Anyone can install robinhood on their phone and trade using their credit card.
Buying a few stocks on an app is not anywhere near the same thing as being an accredited investor. Access to the most lucrative investment opportunities are not available to the average person, and that's almost entirely due to rules intentionally created to block anyone but the already wealthy.
Sorry, nothing prevents the poor from working smarter. Just because you are poor does not mean you are uneducated. And, investment opportunities are NOT gated based on wealth and income. Literally anyone in the US can open an investment account and get started. The lack of desire is the real issue.
> And, investment opportunities are NOT gated based on wealth and income.
What? There is literally a class of people considered accredited or sophisticated investors.
To be considered an accredited investor by the SEC you must have a net worth of over $1M -not including- your primary residence, and you must have an annual household income of over $300K.
We have tax-advantaged retirement accounts to enable the middle class to save a reasonable amount in order to retire without being a burden on society. A typical saver doesn't have additional extra money leftover for a taxable brokerage account that exposes them to capital gains taxes.
Low capital gains taxes aren't meaningfully encouraging somebody making 75k and saving 10k annually to continue with their saving plan.
Financial policy is very specifically against people saving their money though - that's why a certain level of inflation is considered desirable to mainstream economists. Spending and borrowing is heavily encouraged at all levels, while investment opportunities are gated based on wealth and income to prevent the poor from being able to "work smarter".
> investment opportunities are gated based on wealth and income
Anyone can install robinhood on their phone and trade using their credit card.
> Financial policy is very specifically against people saving their money
No, it isn't. People who save money are terrified of risk. There's nothing stopping anyone from investing the money.
> that's why a certain level of inflation is considered desirable to mainstream economists
That's the excuse the government makes to inflate the money. You'll never see a politician point out the real reason for inflation. It's so they can spend it without raising taxes, but it does cause inflation, and inflation has to be blamed on something else. Anything but the truth.
> Anyone can install robinhood on their phone and trade using their credit card.
Buying a few stocks on an app is not anywhere near the same thing as being an accredited investor. Access to the most lucrative investment opportunities are not available to the average person, and that's almost entirely due to rules intentionally created to block anyone but the already wealthy.
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Sorry, nothing prevents the poor from working smarter. Just because you are poor does not mean you are uneducated. And, investment opportunities are NOT gated based on wealth and income. Literally anyone in the US can open an investment account and get started. The lack of desire is the real issue.
> And, investment opportunities are NOT gated based on wealth and income.
What? There is literally a class of people considered accredited or sophisticated investors.
To be considered an accredited investor by the SEC you must have a net worth of over $1M -not including- your primary residence, and you must have an annual household income of over $300K.
It is quite literally a wealth and income gate.
We have tax-advantaged retirement accounts to enable the middle class to save a reasonable amount in order to retire without being a burden on society. A typical saver doesn't have additional extra money leftover for a taxable brokerage account that exposes them to capital gains taxes.
Low capital gains taxes aren't meaningfully encouraging somebody making 75k and saving 10k annually to continue with their saving plan.
So you tax the person extra who needs to eat their money, and let the person who is swimming in money keep more of it?
And you earnestly can't understand why the poor want to increase taxes on the rich?