The Definition of a "Living Wage"

[Boss]

By the way....if you pull in "close to 6 figures" and you buy a $70,000 truck for cash......you are an idiot.

Huh? So paying cash for a depreciable business asset instead of financing it and paying twice as much for it is "idiotic?"

No wonder you're such a consistent and utter loser!

Who said it was a business asset?

I'm growing weary of your constant misunderstanding of the conversation. If the dude said it was a vehicle owned by the business I would have a slightly different reply. It would still be a retarded thing to do, though.

It's NEVER retarded to pay cash for any asset, business or otherwise.

Who said it was a business asset?

He did, if I'm not mistaken. "allows him to earn a living" seems to imply this. Dummy!

 

[LoneLaugher]

Nope. He never said that. **** off.

 

[kaz]

What happens when you stop taking out loans? The money starts being paid back...great right? Wrong, the money being paid back lowers the money supply.

It does? What happened to the money you paid back to the loan holder? What did the loan holderyou paid back do with it? Put it in their mattress?

 

[airplanemechanic]

If you only make 15k per year...you should start cleaning corporate jets like your friend. Are you nuts?

You need to read what I wrote, you talk about reading things that aren't written. I never said I only made 15k a year, I said my yearly expenses are only 15K a year. In fact, the fact that I live so cheaply allows me to do things like buy a new car with a check.

But yes, the guy who bought the truck uses it for his job. He's pretty much cornered the market. Nobody else really has room to get in.

 

[LoneLaugher]

If you only make 15k per year...you should start cleaning corporate jets like your friend. Are you nuts?

You need to read what I wrote, you talk about reading things that aren't written. I never said I only made 15k a year, I said my yearly expenses are only 15K a year. In fact, the fact that I live so cheaply allows me to do things like buy a new car with a check.

Whatever....you are rich, right? You live like a poor person because you want to. Cool!

 

[airplanemechanic]

Yep, because I'm the only 32 year old guy that my Ford dealership had ever seen who walked in and wrote a 20+K check for a fully loaded new car. (I asked the owner of the dealership that I ran into in the hall the day I bought the car.) He said only 5% of his customers of any age come in and write a check for a car, and NONE are under 40. I did it 3 months after my 32nd birthday. And even after dropping that kinda cash on a car, I'll have my home paid off in 3-5 years tops.

I'm not rich, but I'm doing very well. Why did I buy a new car? Because my truck was eating me up on gas. I drive 55 miles round trip every day and at 19mpg, that's rough. My new car gets 42. My motorcycle, when the weather is good, gets 65. Yea, I live poor as hell and happy, because I can afford to have a catastrophic failure of my home's ac system, roof, plumbing, anything, and barely even feel the cost of fixing it.

 

[LoneLaugher]

Yep, because I'm the only 32 year old guy that my Ford dealership had ever seen who walked in and wrote a 20+K check for a fully loaded new car. (I asked the owner of the dealership that I ran into in the hall the day I bought the car.) He said only 5% of his customers of any age come in and write a check for a car, and NONE are under 40. I did it 3 months after my 32nd birthday. And even after dropping that kinda cash on a car, I'll have my home paid off in 3-5 years tops.

I'm not rich, but I'm doing very well.

Wow! You are awesome! You live on 15k a year but decided to drop 20k on a car! So cool!

 

[eagle1462010]

Boss is wrong: 5 facts about economic inequality Pew Research Center

This is a 1%er graph from pew.........Used to target the upper 1%. Nothing new........In the current argument the bottom 90% is using the data below $114,000 which is well above the data for the OP. Had it broke down the this section on the chart then we could relate it to the current debate on basically MINIMUM WAGE...........

As I have stated from the census data............Under current minimum wage standards, only 6% of the current population make minimum wage............meaning that 94% of the people working are making more than the minimum wage already. On top of that I've shown the data that minimum wage in one part of the country would differ from other parts of the country..........I brought that up because people are using some states increasing the minimum wage already...........I'd remind you that the cost of living defers from state to state and even county to county.

I also posted an article already showing that higher paying jobs are a good portion of the created jobs and are far above the minimum wage.......Energy production is most definitely one of these areas and oil shale industries are booming across the country.

 

[airplanemechanic]

Don't let the jealousy hit you in the ass.

How many new cars were you dropping cash for at 32? By all means, lets compare.

You have no savings and a bunch of electronic gadgets that lose half their value every month.

I have two college degrees, a car, a house, over an acre of land, a boat, a 4 wheeler, a truck, a motorcycle and a large storage building with a tractor in it. Not a lawnmower, a TRACTOR. All of that I owned by 32. I just haven't bought anything in a few years. Don't need it. I'm SAVING.

 

[LoneLaugher]

Don't let the jealousy hit you in the ass.

How many new cars were you dropping cash for at 32? By all means, lets compare.

You have no savings and a bunch of electronic gadgets that lose half their value every month.

I have two college degrees, a car, a house, over an acre of land, a boat, a 4 wheeler, a truck, a motorcycle and a large storage building with a tractor in it. Not a lawnmower, a TRACTOR. All of that I owned by 32. I just haven't bought anything in a few years. Don't need it. I'm SAVING.

Keep saving, young man. You might make it someday.

Hint. Buying a new car with cash isn't a wise thing to do. Especially if you are concerned with the cost to insure ( with an "I") it.

 

[eagle1462010]

Does raising the minimum wage always result in job growth PolitiFact

Our ruling

Cardin said, "Every time we've increased the minimum wage, we've seen a growth in jobs, not a loss of jobs."

We looked at nationwide employment data in the years following minimum wage increases since 1978, and sometimes there was job growth, and sometimes there was job loss. Modern research tends to show that raising the minimum wage has little significant impact -- positive or negative -- on employment.

Cardin got carried away when he said increasing the minimum wage is always followed by job growth. We rate his claim Mostly False.

Historical evidence is on this site.........Showing job growth and job losses....economist are at disagreement on the overall effects of raising the minimum wage.........but most of what I'm reading states what I've already stated.........that small increases in the minimum wage effect only a very small segment of the population...............I've shown that data with the census...........Yet the left isn't wanting just a small increase by percentage............increasing the number who are potentially effected by the increase..................At 10 an hour it could effect 16 million workers either mildly or an increase by a couple of bucks............So businesses could limit hiring and or lay off to offset.......................

It is not clear cut as in the past they have always increased it in small portions.............Bottom line it doesn't have a major effect on the large majority of employees which is backed up through several sites that I've already posted..................

This large increase should be opposed..................but I would suggest that if the Dems are heart set on the increase that they should have to CONCEDE SOMETHING IN RETURN.................How about this................

You get $8.25 an hour in exchange for a simple immigration bill. E-verify and penalties to businesses AND THAT IS ALL, NO AMNESTY.................And you would be required to go public on this deal............saying if OBAMA VETOES IT and breaks the deal...................THAT DEMS will over ride the Veto in the House and Senate................and DO IT LOUDLY to ensure the American PEOPLE KNOW THE DEAL..................If not. No deal.

 

[Boss]

Whatever....you are rich, right? You live like a poor person because you want to. Cool!

I live like a poor person because I want to... nothing wrong with that.

You see, when I was growing up, my mom and dad both worked full time jobs. We were middle class. We owned a home that was big and nice in a very nice neighborhood but my parents constantly struggled to make ends meet. We had to close off sections of the house to try and save on heating and cooling bills which were through the roof. When property tax time came around, we'd have to do without in order to pay the tax man. My weekends were often spent mowing our massive 1.5 acre yard. So.... When I became an adult, I was determined to not get myself into such a situation. I raised 3 daughters in a modest lifestyle, even though I was making better than modest income. I saved my butt off for years and years and avoided going into debt for anything. My girls are grown now, and I am widowed, living alone. I have a nice small cabin in the country, just perfect for a single person. I have no debts, all my stuff is paid for, and I live on less than $20k per year. My wealth assets are well into the millions, I've not checked them lately.

For dinner, I often make something like butter beans and cornbread or biscuits and gravy. I eat SPAM sandwiches for lunch, or fried bologna. I have a small garden in the Summer and many times, my dinner is completely from my garden. I can and freeze stuff for the winter. I don't do these things because I have to, I do them because I want to. I could eat out at a steak house every single night for the rest of my life, if I wanted to. I could own a private jet and a mansion. I don't want that. I paid cash for my kid's tuition to college, but two of them attended community college and got two-year degrees, the third went to university on scholarship. I do tend to spoil my grandkids a bit at Christmas and on their birthdays, but never to any extravagant means. I bought all my girls a used $2k car when they turned 16. I could have bought them any car they wanted. I could drive any car I wanted, I have a 2006 Scion xB and a 1969 Chevy C-10 pickup.

You see, money doesn't buy you happiness. Material things are not happiness. I am as happy and content as I can be around a campfire in the wilderness, eating a can of pork-n-beans. Don't get me wrong, it's nice to know that I no longer have to work and earn a living. But living some lavish opulent lifestyle isn't for me.... never has been, never will be.

 

[LoneLaugher]

Whatever....you are rich, right? You live like a poor person because you want to. Cool!

I live like a poor person because I want to... nothing wrong with that.

You see, when I was growing up, my mom and dad both worked full time jobs. We were middle class. We owned a home that was big and nice in a very nice neighborhood but my parents constantly struggled to make ends meet. We had to close off sections of the house to try and save on heating and cooling bills which were through the roof. When property tax time came around, we'd have to do without in order to pay the tax man. My weekends were often spent mowing our massive 1.5 acre yard. So.... When I became an adult, I was determined to not get myself into such a situation. I raised 3 daughters in a modest lifestyle, even though I was making better than modest income. I saved my butt off for years and years and avoided going into debt for anything. My girls are grown now, and I am widowed, living alone. I have a nice small cabin in the country, just perfect for a single person. I have no debts, all my stuff is paid for, and I live on less than $20k per year. My wealth assets are well into the millions, I've not checked them lately.

For dinner, I often make something like butter beans and cornbread or biscuits and gravy. I eat SPAM sandwiches for lunch, or fried bologna. I have a small garden in the Summer and many times, my dinner is completely from my garden. I can and freeze stuff for the winter. I don't do these things because I have to, I do them because I want to. I could eat out at a steak house every single night for the rest of my life, if I wanted to. I could own a private jet and a mansion. I don't want that. I paid cash for my kid's tuition to college, but two of them attended community college and got two-year degrees, the third went to university on scholarship. I do tend to spoil my grandkids a bit at Christmas and on their birthdays, but never to any extravagant means. I bought all my girls a used $2k car when they turned 16. I could have bought them any car they wanted. I could drive any car I wanted, I have a 2006 Scion xB and a 1969 Chevy C-10 pickup.

You see, money doesn't buy you happiness. Material things are not happiness. I am as happy and content as I can be around a campfire in the wilderness, eating a can of pork-n-beans. Don't get me wrong, it's nice to know that I no longer have to work and earn a living. But living some lavish opulent lifestyle isn't for me.... never has been, never will be.

So.......cool! So......rugged. Thanks for sharing.

 

[zeke]

I raised 3 daughters in a modest lifestyle, even though I was making better than modest income. I saved my butt off for years and years and avoided going into debt for anything.

My wealth assets are well into the millions, I've not checked them lately.

Hey that story was pretty good. But I am curious and you didn't say, what do you consider an income "better than modest". And with you avoiding the use of credit, how did you end up with millions of dollars in assets.

Did you buy the first issuance of Apple or Microsoft? Buy property sitting on oil or coal? Did you buy Berkshire Hathaway in the beginning?

Millions want to know the secret of amassing millions in assets on little more than a "better than modest income". All the while raising three kids and paying cash for what a family needs. Along with paying for their college.

 

[airplanemechanic]

It's stupid to finance a car. You'll be upside down in no time. What idiot would finance and owe 18,000 on a car worth 13,500? You lose a lot of promotional offers when you finance and a car loan masks the true cost of a vehicle.

Now some might argue its better to buy a car a year or so old and let someone else take the depreciation and that's up for debate. But my personal preference is to know I'm the only one who has driven that car and know how it's been driven every mile of it's life. That piece of mind is worth the cost of depreciation.

 

[LoneLaugher]

I raised 3 daughters in a modest lifestyle, even though I was making better than modest income. I saved my butt off for years and years and avoided going into debt for anything.

My wealth assets are well into the millions, I've not checked them lately.

Hey that story was pretty good. But I am curious and you didn't say, what do you consider an income "better than modest". And with you avoiding the use of credit, how did you end up with millions of dollars in assets.

Did you buy the first issuance of Apple or Microsoft? Buy property sitting on oil or coal? Did you buy Berkshire Hathaway in the beginning?

Millions want to know the secret of amassing millions in assets on little more than a "better than modest income". All the while raising three kids and paying cash for what a family needs. Along with paying for their college.

It is known as bullshit. He's a ******* multi- millionaire! All multi-millionaires go long periods of time without looking at their bank statements and brokerage accounts. That's normal. He knows his expenses down to the penny....but he's got no earthly idea just how many millions in assets he has.

 

[Boss]

It is known as bullshit. He's a ******* multi- millionaire! All multi-millionaires go long periods of time without looking at their bank statements and brokerage accounts. That's normal. He knows his expenses down to the penny....but he's got no earthly idea just how many millions in assets joe has.

Oh, I have an earthly idea. I told you it's in the millions. It's more than I could ever spend in my lifetime, that's all that really matters to me. I could probably calculate my net worth within $100k if I wanted to do so. Just not inclined to take that time for your amusement... you don't believe me anyway, right?

 

[zeke]

It's stupid to finance a car. You'll be upside down in no time. What idiot would finance and owe 18,000 on a car worth 13,500? You lose a lot of promotional offers when you finance and a car loan masks the true cost of a vehicle.

Now some might argue its better to buy a car a year or so old and let someone else take the depreciation and that's up for debate. But my personal preference is to know I'm the only one who has driven that car and know how it's been driven every mile of it's life. That piece of mind is worth the cost of depreciation.

Man,, don't let the general car buying public know how stupid they are. It the rest of us car buyers quit financing, the car business is going to hell fast.

And you know what that means. Lay offs, UE insurance, more on food stamps.

Nah, it's great that you can buy a car cash. Most can't. Many don't want to but could. When you can borrow money at 0 interest, sometimes it make sense to use other people's money. While YOUR money could be earning much more than 0%.

 

[zeke]

. you don't believe me anyway, right?

Truest words you have written. I don't believe you are worth "millions". I got a feeling no one else believes you either.. and I know, it don't matter. We are on the Internet. It's better than the Army. We really can be all we ever wanted to be. You wanted to be rich. So you are. Good for you.

 

[airplanemechanic]

If you do get a 0% offer, sure. But unless your credit is out of this universe, it won't happen.

Because I bought my car cash, Ford gave me an additional 500 dollars rebate that nobody else got. So that means I would have to earn 500 dollars interest on 20,000 in 5 years for it to be worthwhile to finance, even at 0%. And of course with CD's making 1%, that's not going to happen.