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by ilovepitchdecks
1903 days ago
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There's no such thing as passive income; there's only delayed income. You're not getting paid for nothing; you're getting paid for putting in the work ahead of time. What's wrong with that? I never claimed everyone has the same hourly income. Nor should they. Some people work hard (on their career - not necessarily at their current job!), others take it easy. Both are valid options, but there will be consequences for the respective groups (both good and bad). If you're against inherited wealth, I expect you to leave none to your own children. Respect if you actually go through with this. |
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> There's no such thing as passive income; there's only delayed income.
Wrong. If you have $500k in assets, that yields an average of $35k/year, market average over interest. You get paid money for already having money. This is not additional work. This is additional money as a result of having money.
> Some people work hard (on their career - not necessarily at their current job!), others take it easy. Both are valid options, but there will be consequences for the respective groups (both good and bad).
The difficulty of work is absolutely unrelated to the amount paid. Many low wage jobs, such as customer service, landscaping, or meat packing are absolutely ruinous on one's physical and mental health. They are high effort, and low pay. Other jobs are low effort and high income.
Edit: For comparison, Jeff Bezos is 57 years old, and has $192.5 billion. If he were working 24/7 throughout his entire life, that comes out to $107/second. That is 53,140 times the minimum wage. There is no humanly possible amount of effort that is 50 thousand times harder than a minimum wage job.
> If you're against inherited wealth, I expect you to leave none to your own children.
Complete non sequitur. Inherited wealth is an example of how money, time, and effort are absolutely uncorrelated.
Following up on that non sequitur, though, there must be limitations to inherited wealth such that society doesn't separate into a landed gentry. You are also ignoring the middle ground between being against a generational aristocracy and forbidding inherited wealth altogether, such as an estate tax. Even if somebody is morally against inherited wealth, it is not inconsistent to still give wealth to their children, such that they can use it to lobby against inherited wealth. It's the same reason why I donate money to groups pushing for economic and tax reform, rather than deliberately paying more than the current tax rate. I still spend what I consider to be my fair share supporting society that way, and it goes toward making sure that others do as well.