OPINION: How rich is “rich”?

[KanchanaburiGuy]

5 hours ago, nobodysfriend said:

 

Somebody who has everything he or she really needs should be considered rich enough . ( to live a happy life . )

Everything more than this is a kind of luxury that should be taxed away for the benefit of a healthy sustainable society .

Tired to hear about the excesses of billionaires who already own so much more than they ever can spend . If that excess money would be used to solve all the environmental ( too late already ...? ) and societal problems , the world would be a happier place .

Capitalism ok , but reduced to a sustainable level .

.

I wonder about your own paycheck. Are you okay with the idea of you doing the work, but someone else getting your paycheck? In today's world of online shopping, this happens a lot.

 

A person goes into a store shopping. The store is paying rent, electric, insurance. They have a salesperson to answer questions and help you make the best choice. They spent a lot of money to inventory the product so you can inspect it, try it, hold it, and decide if it's going to be the right one for you. All these things cost money.

 

Then, now that the customer KNOWS it's what they want, they go online and buy it from Lazada or Shopee, etc,  for 200 baht less (cheaper, of course, because they didn't have to spend all that money to sell that item!)

 

One person does all the work and spends all the money, but some other person gets the paycheck!

 

Are you okay with that idea? Would you LIKE being the guy who did all the work, only to have your paycheck go to someone else? It's a competitive world and this is one of the realities of it. But that doesn't mean it doesn't SUCK!

 

So why would you think that high-earners should earn a big paycheck....... only to have a huge chunk of it taken away and given to someone else? 

 

If it's not okay to take YOUR paycheck and give it to someone else......... why would you think it's okay to take THEIR paycheck........ and do just that? Just because someone decided "they have enough?"

 

How about if someone thinks ~YOU~ have "enough?"

 

Being charitable is a marvellous thing; a thing to be encouraged and praised!

 

Confiscation......... ISN'T!

 

 

 

Edited November 5, 2023 by KanchanaburiGuy

[KhunLA]

4 minutes ago, KanchanaburiGuy said:

.

I wonder about your own paycheck. Are you okay with the idea of you doing the work, but someone else getting your paycheck? In today's world of online shopping, this happens a lot.

 

A person goes into a store shopping. The store is paying rent, electric, insurance. They have a salesperson to answer questions and help you make the best choice. They spent a lot of money to inventory the product so you can inspect it, try it, hold it, and decide if it's going to be the right one for you. All these things cost money.

 

Then, now that the customer KNOWS it's what they want, they go online and buy it from Lazada or Shopee, etc,  for 200 baht less (cheaper, of course, because they didn't have to spend all that money to sell that item!)

 

One person does all the work and spends all the money, but some other person gets the paycheck!

 

Are you okay with that idea? Would you LIKE being the guy who did all the work, only to have your paycheck go to someone else? It's a competitive world and this is one of the realities if it. But that doesn't mean it doesn't SUCK!

 

So why would you think that high-earners should earn a big paycheck....... only to have a huge chunk of it taken away and given to someone else? 

 

If it's not okay to take YOUR paycheck and give it to someone else......... why would you think it's okay to take THEIR paycheck........ and do just that? Just because someone decided "they have enough?"

 

How about if someone thinks ~YOU~ have "enough?"

 

Being charitable is a marvellous thing; a thing to be encouraged and praised!

 

Confiscation......... ISN'T!

Also consider, many of the top 1-5% earners (in USA) are already paying 25-37% income tax, where the bottom 50% of the people are paying 0-15% income tax.

 

Why those who earning the most, 1-5% er or even top 20% earners, would welcome a fair, across the board, 15% income tax.  

 

EVERYONE PAYS THE SAME % = FAIR TAX

Just because we chose to earn more for US & Family, doesn't mean the lay abouts get to steal it.

 

Want more - Earn more

[Mark Nothing]

The richest man is the one who needs the least.

 

Over time my definition of rich has changed from a monetary amount to the ability to control my mental state.  

[ChaiyaTH]

On 11/4/2023 at 9:47 AM, retarius said:

I think having $1 million (35 million baht in liquid savings) coulds be called well-off, but certainly not rich. 

I think rich is having maybe more than 200 million baht in assets, with more than 100 million in liquid assets.

You are more or less right, this is due to the insane act of money printing in the past years too. Basically what used to be 1 million is now 3 million. That is rich. To have more than that in your example is called being wealthy. Many people seem to not understand the difference between 'rich' and 'wealthy'. 

 

Imagine the issue for people who are now young or working and want to retire, need much more. Same reason stocks keep going up while companies are down in reality, that is because the dollar is worth fk all, not because those companies do so incredible well. The opposite often and same counts for houses.

Edited November 5, 2023 by ChaiyaTH

[ChaiyaTH]

2 minutes ago, Mark Nothing said:

The richest man is the one who needs the least.

 

Over time my definition of rich has changed from a monetary amount to the ability to control my mental state.  

That's just nonsense people say who not have money, to have a valid excuse or base argument whenever the money topic or issue pops up. But yeah of course, the first important thing is to be happy with themselves. 

[retarius]

40 minutes ago, ChaiyaTH said:

You are more or less right, this is due to the insane act of money printing in the past years too. Basically what used to be 1 million is now 3 million. That is rich. To have more than that in your example is called being wealthy. Many people seem to not understand the difference between 'rich' and 'wealthy'. 

 

Imagine the issue for people who are now young or working and want to retire, need much more. Same reason stocks keep going up while companies are down in reality, that is because the dollar is worth fk all, not because those companies do so incredible well. The opposite often and same counts for houses.

I came to the conclusion when I was about 40, that you need ENOUGH. Being poor is horrible and a vile way of living. I don't ever want to live like that, because I was brought up like that, every penny counted. I also understood that most working people were debt poor (wouldn't drive an old car, new bigger house very time the mortgage rates came down). I have had zero debt since my early 30s, every house, every car paid for by cash. That's how to get rich.....have a life style that consumes a small fraction of your income. If yo can't afford it, don't buy it.

Steal those expansive handbags like they do in LA if you have to have some stupid brand name <deleted>.

[ChaiyaTH]

3 minutes ago, retarius said:

I came to the conclusion when I was about 40, that you need ENOUGH. Being poor is horrible and a vile way of living. I don't ever want to live like that, because I was brought up like that, every penny counted. I also understood that most working people were debt poor (wouldn't drive an old car, new bigger house very time the mortgage rates came down). I have had zero debt since my early 30s, every house, every car paid for by cash. That's how to get rich.....have a life style that consumes a small fraction of your income. If yo can't afford it, don't buy it.

Steal those expansive handbags like they do in LA if you have to have some stupid brand name <deleted>.

It is actually the least likely way and otherwise slow way, to get rich, with the mindset that money is limited. You describe the old way of getting 'rich'. In business, money is unlimited, you do not need to live frugal or cheap at all, neither are debts a issue. You just need to invest a proper amount from the youngest age possible, monthly. If you start very young even 300$ a month could be enough, if it started 30 years ago.

 

The funny thing is that most people not think about it until 40-50, same you describe ''when i was about 40''.

Edited November 5, 2023 by ChaiyaTH

[ExpatOilWorker]

[KanchanaburiGuy]

3 hours ago, KhunLA said:

Also consider, many of the top 1-5% earners (in USA) are already paying 25-37% income tax, where the bottom 50% of the people are paying 0-15% income tax.

 

Why those who earning the most, 1-5% er or even top 20% earners, would welcome a fair, across the board, 15% income tax.  

 

EVERYONE PAYS THE SAME % = FAIR TAX

Just because we chose to earn more for US & Family, doesn't mean the lay abouts get to steal it.

 

Want more - Earn more

Lol

 

Actually, everyone paying the same percentage is NOT fair tax. It isn't, because we don't get paid in percentages, we get paid in DOLLARS.

 

There's nothing "fair" about one guy paying $7,000 in tax, and another guy paying the tax equivalent of 1,000 people ($7,000,000)....... just because it happens to be 15% of earnings, in both cases.

 

The fact remains, one American Citizen paid only $7,000, while another American Citizen paid $7,000,000! Nothing "fair" about that!

 

Calling that "fair" would require a very distorted view of what the word "fair" means. I mean, would you accept that measure of "fair" in ANY OTHER transaction in your life? ------ Three people in line at the market buying the same gallon of milk. One person pays $1, the second person pay $4, the last person pays $167.50, because the computer says "he can afford it!"

 

Nope, I don't think you'd ever call that "fair" at the supermarket........ and it's deceptive to call it "fair" with taxes!

 

I can think of only TWO methods I think deserve the description "fair"........and neither of them is actually possible!

 

1) Take the amount the government spends each year and divide by the population (332 million, at present.) That's each person's "fair share" of what the government spends. 2023 = $19,594, according to one website. (Six people go out to dinner, divide the check by six!)

 

 2) Calculate each person's ACTUAL burden on government resources....... cars, houses, road usage, services usage, planes, protection costs (military/local), business's consumption of resources, et cetera. "This is what YOU cost us....... This is what YOU owe!" (Six people go out to dinner, but ONE GUY orders two beers, two shots, wine with dinner, lobster and a fillet, and creme brulee for dessert. Check gets divvied up according to what you ate: "You had the lobster and the booze, so......")

 

Of course, it should be pretty obvious why neither of these is actually possible. But I don't think there's any way to call either of them "unfair." "Your Share" being the exact same amount that every other American Citizen pays........ or....... "Your Share" being what you, the indivual, actually cost us!

 

Every other "fair" tax scheme I've ever seen requires some great contortions around what the word "fair" means!

 

The bottom line is......

 

There's really no such thing as a "fair" tax scheme. It simply does not exist! So we really ought to drop the word "fair" out of these discussions, altogether!

 

😂

 

Cheers!

Edited November 5, 2023 by KanchanaburiGuy

[still kicking]

Yes, I guess it all depends on where you live, for most people living in Africa or middle east just having food on the table every day means rich.

[KhunLA]

43 minutes ago, KanchanaburiGuy said:

There's really no such thing as a "fair" tax scheme. It simply does not exist! So we really ought to drop the word "fair" out of these discussions, altogether!

 

😂

 

Cheers!

There is, but most don't want it, as they'd have to start paying their fair share of their income, same as everyone.   Rather than taking from those that 'EARNED' more.

 

That part seems to miss the socialist.  Keeping what you earn.

Here's the equivilent of your tax plan:

2 people work at bakery, get paid half of what they produce:

... #1 bakes 20 pies, earns 10

... #2 baked 4 pies. earns 2

... #1 has to give #2 four pies

... now they both have 6 pies to take home

 

Because you want everyone to have the same, whether making the effort or not.

 

You get rich by earning, not waiting for someone to give you theirs.  One reason I stopped earning, as paying 40+ percent of your income to taxes, just ain't right.  I no longer contribute, so they can't take any more .... guess what part of the population gets hurt by that.  hint:  not me

 

Keep over taxing the rich, and you WILL run out of other people's money.

Edited November 5, 2023 by KhunLA

[bignok]

8 hours ago, Lacessit said:

Rich is when one has more money than they can spend in their lifetime.

Rich is when one can do whatever they like or want, without looking at the price tag.

Or buy a new car every year. 

[bignok]

3 hours ago, Mark Nothing said:

The richest man is the one who needs the least.

 

Over time my definition of rich has changed from a monetary amount to the ability to control my mental state.  

So the best monk

[madmitch]

For the purposes of this exercise, I'd say "rich" is the lowest figure the Government can get away with excluding from the 10,000 baht payout!