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toonkee

How the "Poor" and the "Rich" Spend Their $

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What this tells me is that you probably are considered "well off" in our society if you're comfortable enough to throw a sizable chunk of your income into insurance and pensions.  Poor people ain't got no money for the future.

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26 minutes ago, bluerules009 said:

Your point?

The rich are smart enough to retire well and responsible enough to not smoke?

You don't deserve a response because you are mean but I am nice so I will elaborate.

As a percentage, it appears the top and the bottom devote relatively similar amounts of their income on most things. One notable exception is the future.

I never suggested why.

I didn't judge any group to be smart, dumb, lazy, hardworking or undeserving. I just thought it was interesting to see the bottom 20 basically cut that out of their budget.

I'll let you and others tell me the reasons.  

 

 

 

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15 minutes ago, toonkee said:

You don't deserve a response because you are mean but I am nice so I will elaborate.

As a percentage, it appears the top and the bottom devote relatively similar amounts of their income on most things. One notable exception is the future.

I never suggested why.

I didn't judge any group to be smart, dumb, lazy, hardworking or undeserving. I just thought it was interesting to see the bottom 20 basically cut that out of their budget.

I'll let you and others tell me the reasons.  

 

 

 

It is pretty obvious why, they are dumb.  They are the same group living paycheck to paycheck without any spendable income because they have already purchased everything they can on credit.

Even my dog is smart enough to bury his bone or excess food for a future time of hardship.

The truth is not mean.  Only the emotionally crippled can't handle it.

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12 minutes ago, bluerules009 said:

It is pretty obvious why, they are dumb.  They are the same group living paycheck to paycheck without any spendable income because they have already purchased everything they can on credit.

Even my dog is smart enough to bury his bone or excess food for a future time of hardship.

The truth is not mean.  Only the emotionally crippled can't handle it.

Yet your dog is not smart enough to run away from you.  

 

 

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3 hours ago, toonkee said:

Yet your dog is not smart enough to run away from you.  

 

 

My dog has it better than most of you provide for your family.

He is also more useful than most of you.  He at least works at a job he loves, for a living.

 

Again like all moronic leftist authoritarians you think with your emotions not with your brain.

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12 hours ago, toonkee said:

What this tells me is that you probably are considered "well off" in our society if you're comfortable enough to throw a sizable chunk of your income into insurance and pensions.  Poor people ain't got no money for the future.

Poor and rich are transitory. Many "poor" people are young and just starting out in life. The need for insurance and pensions means less to them and fund them accordingly. Most "rich" people are older and need insurance because they have family and can see their careers are nearing completion. 

I have a young engineer who works for me who admitted she doesn't have health insurance through the company. She pays the now repealed fine. Why? She's under 26 and her father still carries her on his plan.

Weird how people order their lives based on the various, unique incentives and condions that are applicable to them.

“Science is the belief in the ignorance of experts.”

-Richard Feynman

"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators."

-P.J. O’Rourke

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11 hours ago, bluerules009 said:

It is pretty obvious why, they are dumb.  They are the same group living paycheck to paycheck without any spendable income because they have already purchased everything they can on credit.

Even my dog is smart enough to bury his bone or excess food for a future time of hardship.

The truth is not mean.  Only the emotionally crippled can't handle it.

So why do the wealthy devote a higher percentage and much higher amount to alcohol? Does money make you forget about liver cancer?

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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38 minutes ago, SDSUfan said:

Poor and rich are transitory. Many "poor" people are young and just starting out in life. The need for insurance and pensions means less to them and fund them accordingly. Most "rich" people are older and need insurance because they have family and can see their careers are nearing completion. 

I have a young engineer who works for me who admitted she doesn't have health insurance through the company. She pays the now repealed fine. Why? She's under 26 and her father still carries her on his plan.

Weird how people order their lives based on the various, unique incentives and condions that are applicable to them.

If her father carries her there is no fine...

You reveal a shocking ignorance there

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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18 minutes ago, nomascows said:

Single malt costs more than PBR?

The 90th percentile of household income made about 162,000 a year per household in 2006 (https://www.census.gov/data/tables/time-series/demo/income-poverty/cps-hinc/hinc-06.2014.html) .  I'm being conservative here. The median of the top 20% will be lower than the mean as the distribution will be very skewed upward. 1.1% of 162,000 is not quite 1800 bucks a year.

The 10th percentile of houshold income was between 12 and 17 thousand dollars; I'll just do linear interpretation and call it 14.8k. .08%*14.8k = about 110 dollars a year on alcohol.

So... on average the wealthy are spending about 17 times more on alcohol than the poor.

Digging in to this deeper, a 12 pack of PBR costs about 10 bucks. 24 PBRs is roughly equivalent to a fifth of liquor; that's 20 bucks for a fifth worth of alcohol. The average poor household is consuming about 11 12 packs of PBR a year. That's 2 beers a week, roughly. 

A quality bottle of scotch costs between 30 and 45 bucks (not coincidentally, the cost difference between a bottle of Laphroaig at a costco in Arizona and at a liquor store here in Casper). A really nice bottle of scotch costs 90 bucks. Presuming that the wealthy on average spend much more than the cost of a Nadurra bottle and never delve into beer or rum or wine themselves (lol), that's 20 bottles of fine scotch a year or a little over 1 drink's worth a day (closer to 8 a week). 

If the wealthy are more in to, say, Knob Creek and Glenfiddich instead of JW Blue and Oban 18 years, they're consuming over 2 drinks a day per household, on average. 

 

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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2 hours ago, happycamper said:

So why do the wealthy devote a higher percentage and much higher amount to alcohol? Does money make you forget about liver cancer?

Umm...because they can? Why drink MD2020 when you can buy $20/bottle wine by the case?

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1 minute ago, renoskier said:

Umm...because they can? Why drink MD2020 when you can buy $20/bottle wine by the case?

Don't like to finish threads before you comment, do ya NC?

Remember that every argument you have with someone on MWCboard is actually the continuation of a different argument they had with someone else also on MWCboard. 

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4 hours ago, SDSUfan said:

Poor and rich are transitory. Many "poor" people are young and just starting out in life. The need for insurance and pensions means less to them and fund them accordingly. Most "rich" people are older and need insurance because they have family and can see their careers are nearing completion. 

I have a young engineer who works for me who admitted she doesn't have health insurance through the company. She pays the now repealed fine. Why? She's under 26 and her father still carries her on his plan.

Weird how people order their lives based on the various, unique incentives and condions that are applicable to them.

I call BS on this. If you insurance through your parent you do not pay a fine. Heck if that was true every college student will be paying a fine.

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5 hours ago, SDSUfan said:

Poor and rich are transitory. Many "poor" people are young and just starting out in life. The need for insurance and pensions means less to them and fund them accordingly. Most "rich" people are older and need insurance because they have family and can see their careers are nearing completion. 

I have a young engineer who works for me who admitted she doesn't have health insurance through the company. She pays the now repealed fine. Why? She's under 26 and her father still carries her on his plan.

Weird how people order their lives based on the various, unique incentives and condions that are applicable to them.

Aside from the apparent misstep about your under 26 co-worker paying the fine, I think there is something to the bolded statement.

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1 hour ago, Rampage said:

I call BS on this. If you insurance through your parent you do not pay a fine. Heck if that was true every college student will be paying a fine.

Exactly. We still have two 25-year olds on our health ins. and they don't pay a fine.

Thay Haif Said: Quhat Say Thay? Lat Thame Say

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18 hours ago, bluerules009 said:

It is pretty obvious why, they are dumb.  They are the same group living paycheck to paycheck without any spendable income because they have already purchased everything they can on credit.

Even my dog is smart enough to bury his bone or excess food for a future time of hardship.

The truth is not mean.  Only the emotionally crippled can't handle it.

I think you were the one who said some pay $100k for a $40k automobile.  Mug said interest would not be that much, but I would contend if one is purchasing a car on credit while not adequately funding retirement, then you were right in your claim.  There are many in the "middle class" who have minimal net worth, because of poor decisions. 

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I think is should be a required class in highschool and college about basic savings and investigating, good debt, bad debt, etc. When I first graduated I went out buying Louis xiii for my friends and bought a Porsche. Luckily for me my sister's boyfriend started working for an investment firm and I ended up using his boss as my financial advisor.  A lot of people don't realize because they've never been taught how important it is to start investing young, they just see all these "things" they can now buy without realizing long term consequences.

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2 hours ago, modestobulldog said:

I think you were the one who said some pay $100k for a $40k automobile.  Mug said interest would not be that much, but I would contend if one is purchasing a car on credit while not adequately funding retirement, then you were right in your claim.  There are many in the "middle class" who have minimal net worth, because of poor decisions. 

It just depends on what the interest rate is moron.

You probably pay that much on your credit card for the coffee habit you have.

 

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