well if thats in the context of basically anyone envolved with this american degeneration tv time series of cbs "make it" then they all got more of a "hand out" than any inheritance kid it was same amount of luck but just much more easy to fulfill those rolls and also only difference is they are cruel unconscious and incompetant and live by sliver narrow illusions and willing to impose there fragile ways on everyone else of which are based off of corrupt structures that enabled them
Some people might lose everything out of their poor choices, but blaming general poverty on people "laziness" is a naive statement that doesn't take in consideration multiple external factors that played a role in the process.
I agree with you that it's not laziness in ALL cases, but there are also some people that just don't want to work and live off of the system. Take universal basic income, for example. People who don't want to work will only be more motivated to not do so and live off of taxpayers who DO go to work.
@SJ the vast majority of people in poverty are not like this. This is a stereotype the wealthy and powerful made to make it easier to ignore and not help our citizens in poverty. It's also rooted in racism- the "welfare queen" is a stereotype specifically of a "lazy black woman playing the system"
It makes me really sad that nobody even mentioned the poverty cycle. This issue definitely needs to be discussed more, preferably with people who are experts on poverty & the economy
I agree. I love these middle ground episodes but lately I've been thinking they should definitely reformat to include actual experts for some topics or start another series, especially since this channel has almost 7 million subs now..
Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
@@williamDonaldson432 Market behaviour can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I wish they would have touched on health related issues causing poverty as well. My mom is very sick and lives with major illnesses which makes it extremely difficult for her to work. Getting disability is actually a lot harder than people think. I'm 17 and have been working different jobs to support my mom. As it can be a choice, there are many factors that can contribute to why somebody is unable to fully work and support themselves.
Yeah, and also poverty causing health problems which cause poverty. If you can't pay for medicine/treatment, you miss out on opportunities to make money, and could even end up with permanent disabilities and chronic illness that are even harder to overcome, specifically because you're already poor.
Yeah. Sometimes life can happen to some people and that's not a choice. There are truly a lot of factors that can lead to poverty or wealth. But when you're down, it doesn't get much worse than that. Just don't give up. It's not easy, but just don't.
The first girl that assumed everyone has access to facebook really lost me, imagine living in so much privilege that you think having a phone and internet is a given
@@roscoeswetsuit1218 true but first you need to know about those opportunities, if youre homeless and dont have a phone, you probably dont even know whats at reach on the internet
I do agree with that, but at the same time, I feel like at least where I live, you can access the free internet at cafes. Also, these people are "poor" not homeless. (one was ik) But people with a house can probably save up to get a phone eventually and access it. But I do agree with what you are saying.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I think the statement that "we all have choices, but we don't all have the same choices" was such an important point. Some people have to choose between investing in housing or food, while others choose between investing in a rental property or in the stock market. You can't invest in things to "get ahead" if you're constantly having to choose which need to fulfill.
@@karenmaher2092 My point still stands. The poor people weren’t necessarily given the same choices as the wealthy people. We don’t know every choice each person made, or every option each person was given, to put them in the places they are today. Thinking that poor people could just be wealthy if they “made better choices” is just silly. Especially in today’s economy.
What got me “I go into a job and work as hard as I can to get a promotion” I have done this at every job I’ve ever had been working since I was 16. All that has gotten me is minimum wage with higher expectations and picking up the slack of those who do minimum work.
I've done this as well since I was 13, and it has resulted in a promotion at every single job I've had. Although I do have to say that I had to communicate that I wanted to be promoted, to which I got the reaction that I had to show that I was capable, which I then did. Has never not worked for me in 12 years of working and 4 different jobs.
This is where the concept of risk comes in. You work hard as you can. You excel and become truly valuable to the company. You tell them you want to get more responsibility...and they say no. Your next choice determines whether you are going to succeed or fail. When you let someone know that your behavior won't change regardless of what they do you remove all power you once had. Reward rarely comes without risk. They won't give you opportunity? Find someone who will and quit. People often stay within a company or position because it's comfortable and familiar, even if it's a terrible job/company. If you don't want to quit, get an offer and bring that to the table to negotiate more responsibility/salary. But you need to be very honest about your performance and how it compares to others. None of this is applicable if you do your best but aren't well above average.
What people forget is that the poor literally can't save money to invest in something, go to school, etc. They're just trying to survive the DAY. I was taking the city bus for a while and would buy the monthly pass, because it's cheaper than paying for a single ride each time. I didn't understand why everyone wasn't just buying the monthly pass. It hit me that they will never be able to save the $50 at once for the pass because they're just trying to scramble enough quarters for today's fare and for something to eat.
Exactly. I was one of many people that was lucky to get a bus pass that was at the student rate. But paying $44 a month can easily be groceries for somebody. But a lot of people also don't know is that if you are on assistance they can give you a monthly bus pass.
I was also just thinking it cost $3 to ride the bus for a day. Let's just say somebody rode the bus 25 days out of the month. That is $75 that they have paid to ride the bus for a month when a monthly pass is $44. But to someone that is making money stretch that's all they can do.
I had similar views for a long time until I worked for Disney and my eyes were opened big time. I had coworkers with disabilities and coworkers who hardly spoke English and they had families at home and kids to feed. Like you said, they didn't have the time and money, or sometimes physical ability, to go to school or work harder to get a better job. For some people, minimum wage job are it. they are the only jobs they are going to be able to do. and youre telling me those people don't deserve to make a living wage? or that should be temporary and they need to move on to something better?
The woman with the gambling addiction who thinks making more money would solve her problems is completely delusional... giving her more money would be like dumping gasoline on a house fire
It would be reasonable if she just said it wouldn't stop the problem but it would make it so that it's not as big of a problem for her. To say that money cures addiction is delusional.
I was thinking the same thing. I used to be a dealer in a casino and have seen rich and poor gamble away every last cent. She’s admitted to having a substance and gambling addiction yet she thinks that will all magically go away with more money. There are plenty of free programs that are out there to help with addiction, if she isn’t even starting there, then she’ll never get anywhere. Having a substance addiction is likely already preventing her from getting a better job, so unless she makes the choice to start to better herself, she will always be poor and have those unchecked addictions.
i think rich people always forget that people need reasons to live. you can’t just work,work,work and save money and disregard everything else for the instability of one day becoming a millionaire or a billionaire. people need something that makes them happy and if they’re living paycheck to paycheck and happen to have a small amount of money left, they should be able to indulge in that without the fear that they could be homeless next week.
It’s about sacrifice imo. I’m a single mother with no assistance for family, friends or the government or the father. I was able to sacrifice for a period of time and live below my means to invest in one rental property that turned into two, three and will continue. I don’t have to be a millionaire or billionaire; I can sacrifice buying things and find joy in building my future, raising my son, or doing art or sing (things I enjoy) so that one day I will be wealthy enough to retire from active work, travel, and give my children resources to build upon. Where there is a will and determination, one will find a way.
@@purplehawk2271 In this case it still isn’t the person’s fault. They should be getting paid enough to not have to work everyday and maybe even afford to go on a vacation.
At my very first job after high school I was told by the hiring manager that if she knew that I was going to college two months after I was hired she wouldn’t have hired me. And I applied for Walgreens while I was in college and did not get that job because the hiring manager said that he knew that once I graduated I would quit for a better position. So if these minimum wage jobs are temporary, then somebody needs to tell these minimum wage jobs that. Because they are hiring people with the expectation that they will stay for the long-haul
I have a job in food delivery. They hire everybody but you get payed per delivery. So I can just choose how long I want to work and continue working part time while finding another job. It is a temporary solution though.
@@dragonlord1225 i'm in the same boat as you here in the UK - it's honestly the best job that you can get as a student - as the amount of money you get is proportional to the effort in which you put in and you have such flexible working hours
If you own a business and expect to change your employees every time, you are not worthy of owning a business and should probably work as a cashier for the rest of your life.
I know I'm a few years late watching this, but I really would love an update on Hanifah. I see that she is an author, I would love to know her story and I hope that she continues to perservere. The brief of her life that she revealed here is so inspiring and when she started crying, I started crying. I'm rooting for her! I pray all is well with her now! ❤️
Can we get this conversation but with people in a middle-class position vs those who are rich? I feel like it would be a very interesting conversation and a lot more nuanced with people in the “in between”
Therapy being too expensive was a very important point and I think mental health wasn't discussed enough. I believe that making bad life choices often derives from trauma, escapism, hopelessness. Poverty very much amplifies these factors. Selfmade rich people basically argue that they were determined and managed to pick themselves up so they deserve everything that comes to them nd they do. But the flipside is that people who are paralyzed because of mental health issued that are often seen as just being lazy don't deserve anything. And that's sooo fucked up. I do not believe that weak people should be left behind because they're weak. We as a society have come far enough to overcome natural selection and instead help everybody to lead a happy life without worrying about literal survival. Sorry for the rant
Actually natural selection made us this far, our ancestors, who cooperated and lived in groups survived and those who went by them selves didnt. Helping each other is in our nature.
This is so important. Through Canada’s healthcare system I can be given help from a social worker or psychiatrist for free with the permission of my doctor but if I wanted to find a psychologist I mesh well with and can receive CBT help from, I have to pay upwards of six thousand dollars a year for bi-weekly appointments. That doesn’t even bring up the fact that testing for things such as ADHD average at $3000 per test. The mental health crisis in North America is getting worse by the day, especially now with the ever-increasing effects of climate change, the worsening of the pandemic and the increase in the housing market (specifically in Canada, I’m not sure about the US). A lot of young adults are stuck living with their families, which in some cases are extremely toxic and unhealthy environments, worsening any state of initial joy, motivation etc. Big changes need to be made, and there’s little hope left in me that it will get better, but a part of me still hopes it does.
No you are exactly right. With the funds it takes to overpolice low-income neighborhoods we could literally be giving accessible cheap therapy that could lower homelessness
The 'poverty is a choice' topic really hit home for me because I had to write an essay about if poverty is a choice in school. Being underage means that if my guardian is struggling with money, i struggle as well. At my age, being poor (which i am) isn't my choice at all, it's been thrown upon me. My parents have worked and ARE working their butts off for the past 3 years to get out of this poverty cycle but there are many factors blocking them from succeeding. Basically the point of what I'm saying is that being in poverty isn't a choice at first, it is your choice to try and get out of that cycle and some people do try their hardest but just don't succeed. The people on the 'rich' side think that if you grind,grind,grind you'll get money and succeed and that's not the case because life isn't a straight line. You don't just grind ------> then get rich because there are so many elements that prevent you from reaching that wealth and we've been convinced that grind=success and that's just not true in so many cases.
The hardest working people out there are the working poor. Plenty of rich people who barely do anything but have money. Definitely, we can say hard work does not necessarily always equal success. That is one of the biggest lies of the so-called "America dream" that has ever been told
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Although stocks are now rather volatile, you should be okay if you perform the proper calculations. There have been stories of people making over $250,000 in a matter of weeks or months, according to Bloomberg and other finance media, so if you know where to look, I believe there are many wealth transfers during this recession.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that’s the most effective way to enter the business at the moment.
I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
@@williamDonaldson432 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
One big thing people don't often think about is that rich people can essentially buy time. Poor folks might have to work two+ jobs just to pay rent and eat and they don't have any extra time (not to mention energy) after that to do much else. For example, if there were two musicians, one rich one poor, the rich one is a lot more likely to make it big--not by lack of talent for the other, but because they had the time to practice every day, and probably started practicing earlier in their life since they could afford equipment sooner.
@@baeseulgi1742 you assume we are a monolith and everyone has the same circumstances. And that's a terrible mindset. You dont know what's going on in the poor person's life that making it harder than his rich counterpart to succeed. You assume too much that's why you make these simplistic answers.
Exactly! Also, this amount of stress and pressure that we have to put ourselves under isn’t the same. We simply can’t risk it all, because if we don’t make it we have nothing to fall back on. Nothing. Those that came from wealthier families have better opportunities and can take those risks. If they don’t make it then their family can support them or they can find something else.
The movie Parasite is a perfect example of this. Even if you work a job that pays and you’re poor, it’s still not enough for one to break free from that lifestyle of labour or get anywhere. The cycle of rich continues while the cycle of being poor does too.
@@jeremiahnoar7504 you hear about the people who become rich from being poor because it’s not very common. We think it is. But there’s a lot more poor people in the world who stay poor than the very small percents of people who do and end up making headlines because of it.
@@noahw1229 sure but the issue with your post was the last sentence about the cycle of being poor is inevitable. I don’t think the number of people who go from rich to poor really matters so long as people clearly have the opportunity to get out of poverty. It’s like breaking the once thought impossible 4 minute mile. It doesn’t matter how many people have broken the record. What matters is that enough people have done it to show that it’s clearly possible.
@@aaaaacdhhllmnnv the percentage of those people are too low? Compared to what exactly? More people have made it from poverty to upper class in the last 100 years faster than they have in the last 1000s of years. The poor in America today have more access than kings in the 1600s. Yes, in an ideal world poverty doesn't exist and everyone swims in a Scrooge McDuck gold swimming pool but our world is far from ideal, but it's also far, very far, from what it was even decades ago.
“Do you think some people don’t have the same access to choice?” Yes. That is exactly the issue here. Because we live in a market society, the access to goods, education, healthcare, well-paying sustainable jobs, proper nutrition etc, is far more difficult for those who are poor. People should not have to choose between sending your child to school or feeding your family.
@@IIII...... Bro are you insane? First of all, I think it's laughable that you think middle class people can survive on a single income. But secondly, let's not forget that these people who aren't middle class do jobs that NEED to be done. Some people have to work in a grocery store or have to clean toilets in order for society to function, you realize that right? So all of these people who do necessary work are now just forbidden from having kids? Not only is that fucked up but if that really happened the population and the economy would absolutely CRASH. The economy's job is not only to provide production but also to provide REPRODUCTION so there is a steady supply of labor. Go study some econ 101, you buffoon.
I think that the point David was making toward the beginning was that labor theft exists HEAVILY in billionaires and multi-millionaires. You cannot realistically work enough hours and perform enough labor individually in a company to earn billions, that profit is derived from the thousands of underpaid workers that facilitate those processes and products. Wealth hoarding is ridiculous in this country given that our capitalist society favors these major corporations where the CEO rakes in millions, if not billions, off of the minimum to mid wage employees who made it happen. I don't believe that all rich people are bad, but ethically and morally, billionaires should not exist.
hanifa is really admirable. living homeless, having such trauma, having to flee her home and family. i really hope she gets stability in all forms, and just has a nice life in general.
@@indietof The fact that you say that, in spite of everything she went through, shows me that there must be something “cult” like about all of these religions. This is not a time to defend Islam. This is a time to be a compassionate human being and simply wish her a nice life and stability. That’s it. No “buts”. I have a feeling she will be just fine…
@@indietof she said an “Islamic cult” that could have been the Nation of Islam who aren’t even truly Muslims since they believe Allah is multiple gods (or something like that idk they’re batshit crazy)
It's frustrating how the "rich" don't recognize the fact that nepotism exists within many industries like the music industry or entertainment industry which makes it harder for someone's talent to be recognized if they haven't come from a well-known family or the fact that many people who are wealthy are heirs or heiresses of families who have generational wealth from avoiding paying taxes for generations (I even remember reading a story of how one millionaire or billionaire even admitted how spoiled his children are).
This exists everywhere but I dont think its systemic. It has always been "human" to hold certain people higher due to their lineage or mentors simply because they will probably be more qualified for certain things whether its about education or connections
Reads like a comment from someone who failed as an entertainer and is making excuses for themselves. Plenty of actors and successful music artists don’t come from families “in the biz”. If your an entertainer then you would do it for the art, not because you hope to be a big shot.
This was a really interesting discussion. I hope next time you would invite rich employers and their/other companies' low rank employees. It'd be interesting to hear the perspectives of both sides, especially of the employees about their labor policies, salaries, and other stuff.
And also that middle and low incomes cannot use loopholes to avoid taxes. Just working hard does not make you rich and not everybody can be an invester. Who will bring you food, built your house or take care of you in the hospital. Work that is most needed in society isn't nearly paid well enough.
she essentially labeled Islam as a cult, not to disregard her trauma, she may have come from a place where a cult was disguised as Islam, however when you have a platform you also have the responsibility to not spread blatant lies/ be clear about exactly what you are saying- because if I were someone who did not have any knloadge about Islam I would very well assume that it was a clut
@@wutare6643 exactly my thoughts, just judging by her accent I think she literally grew up in America. So I doubt her story of running away from wherever in Africa and coming to America alone. She probably wasn't. Something just doesn't add up.
I don’t think these people understand how hard it is to get recognized for your talent. There are millions and millions of singers, artists, dancers, filmmakers, etc., out there who have yet to be discovered. And it’s often because they don’t have that built in wealth other celebrities have- I’ve been writing music almost my entire life, and I’ve been recognized for my talents yet still have no opportunities to sell my work because I can’t afford to produce it. There are so many factors that play into income.
Exactly. I just watched a video titled “why all your favorite celebrities have rich parents” and it talked about how Hollywood doesn’t even care to find actual talent these days. They just cast people who are born out of nepotism.
There is lots of talented people and it's a risk to spend your money to make it in the music industry but if it does work out you can become very wealthy. It's just like how people invest in other things.
that's because talent is not the only thing that gets you to the top. The things you listed are the extreme exception. Most millionaires dont become millionaires that way.
I absolutely believe the system is rigged against the poor, even though my partner and I make about $400,000 a year. I’d like to know how they’re defining “rich,” though. One of the “rich” people makes $130,000 a year while another makes $10 million. Those are very, *very* different situations.
@Dan Wruck definitely depends on where you live, West Coast or north East in my opinion that's not near rich at all. Where as in the Midwest or some southern states that's beyond plenty my mother made $40,000 at the most a year along with debt and we always had everything we needed I really just comes done to your lifestyle imo
@Dan Wruck It definitely is rich. It's well off. Obviously it's not millions, but it's more than enough. Edit: and the definition of poverty varies country to country, and varies even between cities in most countries.
The addiction girl said “I don’t have a laptop and camera to start my RUclips channel” cause your literally spending your money on weed vapes and etc instead of using it to buy what will make u more money this is ridiculous and you not supposed to want to survive of minimum wage people need to lower there lifestyle instead of buying what they can’t afford that’s victim mindset
But I wouldn’t necessarily say more problems, I think different is accurate. Problems due to being poor go away but then you’ve got some new problems related to being wealthy. It’s weird. Money does not buy happiness, solves money problems, but then new doors to new problems open.
It all varies on the lifestyle selected and how you're making more money. If your aspiration involves freedom and security and centering life around that, i believe you will have fewer issues. @Worminthedirt
I feel like the tension in this episode derived mostly from the rich defending their wealth while the poor were exposing a system that keeps the poor, poor. The rich people felt they had to justify their success by basically saying anyone can do it too but disregarded or didnt mention privilege, luck, or advantages they may have had because then it would’ve proven the poor peoples argument true
Three of the 4 "poor" people are poor mainly by choice. The Disney guy actually admitted it because he said he never wants to be rich while "knowing the rules of the game" (doubtful) and citing Marxist economy theory incorrectly. The only truly poor person who I felt bad for was the Islamic woman. However, she seemed intelligent enough to be able to hold a job and get herself out of that mindset, too.
They talked about the privilege they have being able to exploit the tax system because of the knowledge that they got and they talked about taking risks there for luck on investments and properties
I think it’s because of their idea that “i was born into poverty and THIS is how I got out.” And i totally get that because I’m currently in that position. The rich acknowledged that the system is flawed but they used that to their advantage to get where they were. The poor (in this case) were fighting to prove that the system is flawed, but also aren’t willing to use that to their advantage the way the poor did.
10:05 ‘why is it wrong it’s the law’ that was one of the most jaw dropping statements i’ve heard in a middle ground video. at her big age as well. people don’t realise the law is not some godly otherworldly set of rules. leaders are not otherworldly beings, they’re just normal people and some normal people make rules that benefit themselves. not saying leaders are doing this though some are, but it’s totally possible. the law is made by humans for humans, it only makes sense that it’s not always right.
worst thing too is they were talking about *loopholes* in the tax code that lets them pay less than their fair share at their income bracket, it's literally skirting the law to pay less than the already disgustingly low amount of taxes people who are well off/filthy rich like the $10MM guy are legally supposed to in the US and other countries.
@@Jana-fs2qf why shouldn't there be a tax loophole for the incredibly wealthy? Rich people are usually rich because they have made a product/service that has greatly benefited the population, the loopholes allow them to keep enough money to run their business properly, and keep some money that they've rightly earned.
LOL it’s like slavery was once a law in the south. So by that logic she would be pro slavery cause it was the law right? Basically, she put legality over morality.
This was excellent. One of the best I've seen Jubilee present, but I think it would've been more interesting to have a better wrap up. The ending seems so abrupt. Perhaps due to time restriction.
Bill talked about investing and how people can take risks proving how the economy isn’t rigged but how is someone living paycheck to paycheck going to invest in something?
Right, like how is it fair to say, if you want to be rich and “beat” the system that is built to hold you back you have to risk losing all your money, like people would rather have some food on the table each night than risk having none, it easy to say when you have millions in disposable income
But at the same time he can say that now cause at one point in his life he had risked everything to make his millions the choice is yours but you can't when you have to work for him and he takes money cause he took the most risk.I come from a third world country and the wealth swings are even greater yes people living paycheck to paycheck can't save but what they can do is educate their kids which can bring the entire family out of poverty doesn't mean you live paycheck you can't invest, invest in your kids or yourself
@JO JO Yes there is always a way. It's just when you compare yourself to others who are in a better state than you are at the moment can discourage you and make you view your disadvantages more than your advantages.
@JO JO As someone who used to live paycheck to paycheck... you can't assume anyone will even have a single dollar to "put aside" every week for a year. Or even every other week, or even once a month. Sure, a lot of people will, but those below the poverty line can only get out of poverty with luck. Luck is the only thing that got me out of poverty. This is the first year of my entire life that I am financially stable enough to enjoy Christmas. There is not always a way in a system designed to fail the ultra-poor.
I just wish the rich people understood that "being willing to do a job" isn't because we WANT to do it, it's because there's literally no other options and the people in control of how much we get paid know it, so they choose to not pay us more.
@@Iksvomid not true at all. Having seen many interviews and talks for wealthy people, they love to work. Most could easily retire early and just go chill at a beach, they don't. They like creating value at work.
Or the wealthy elite, who cheat the system to put their children in the best colleges. Not for the sake of their education. But just so their kids can party in college.
@@jhxcczs Yup. Effectively because they succeeded they think it's the same for everyone else, when they fail to realize how many people have put in the same effort and work that they have yet haven't succeeded.
@@mofire5674 effort doesn’t mean the success is going to equal. Someone who is born with better talents at singing might not put so much effort into it like an average Joe to succeed
Many people can "play the game", but what if we dont want to? What if we just want to do things like teach, help others, go to work, and expect enough to live? I dont want to "hustle", i want to do academia, but i also need to be able to feed myself..
@@rebekalanska2119 This is gonna anger alot of online brothers who dont touch grass but...the patriarchy (men of importance in society) have already convinced women to be cooks, janitors, and child carers for free.
It should have been rich people versus Economy experts because i feel the "poor people" felt intimidated to argue beyond a certain point. And also they probably lacked the vocabulary to verbalize many things they should have.
Economically , rich people had pretty much all valid points , because they argued based on the economics of different situations. So getting economic experts wouldn't change that.
@@firehunters9628 no they didn't. You only think that because you haven't listened to a real economist who understands theory and doesn't regurgitate arguments from privilege
Someone’s addiction is a choice, no one is making you gamble, smoke, or whatever. If you chose to gamble your money away knowing you got obligations then thats a personal issue. Stop with the excuses (and im not rich)
Jinny was extremely out of touch. She tried to say that all jobs are better than no jobs?! So, all the ppl who are being exploited for 50cents/hour manual labor or kids/teens working in slavery-like conditions to feed their families in 3rd world countries is better?! Then her spoiled self maxed out her credit card one time so she couldn’t afford groceries ONCE (you know damn well her parents sent her money quickly after & she still ate that day.) and that was her version of not knowing when her next meal would be?! It’s infuriating to me when clearly privileged ppl claim that their upbringing had nothing to do with their access to opportunities and success. It’s frustrating to see ppl act like everyone has the same chances of becoming rich. That’s not how it works, there will always be a hierarchy when it comes to money. That’s unfortunately the way it is. There needs to be a bottom for their to be a top of the pyramid. Billionaires cannot exist without exploiting others on their way to the top.
Preach! Like it doesn't matter if to some 3rd world country child thinks that working for $1 an hour is better than no job at all - this is STILL explotation and not ok. You should pay that child the correct wages, even if they are easy to exploit.
The thing is, these people have to convince you to work hard for people like them for the least amount of money as possible while also trying to avoid giving any of their money away in taxes that would help out those in far worse situations than she's ever seen. She wants to stay rich and pretend she cares for those dirty poors who should just work harder. What a tool to the establishment, and also just a tool.
this episode really just exemplifies that there is no class solidarity under capitalism, regardless of shared identities, cultures, experiences… economic class is such a compelling force that overrides all forms of identity politics
As someone who has struggled with addiction (however not gambling addiction), I don't think Mia is being entirely truthful with herself when she says she wouldn't gamble if she had stable or passive income. Addiction is a feedback loop that will continue until you figure out the root cause and address it. Not trying to say that having more expendable income wouldn't make finding helpful resources easier or minimize her struggles, but more money tends to make addiction easier to sustain rather than easier to fix if you aren't addressing root causes
Agreed, and I think that's exactly what the real estate guy was alluding to without actually "saying it" explicitly. She's definitely gotta get some help for that addiction. It's the same reason that a vast majority of lotto winners end up broke again just a few years later.
I agree. She may initially invest in some of the things she wants. Get the top of the line laptop, cameras, editing software, lighting, etc but to think that she will suddenly break the addictions she has because she now has money is not realistic.
True, but as someone who thinks logically. Circumstances do play a role. Imagine you have to take care of your family at a young age when everyone else go to school. There are people out there who doesn't choose to stay poor.
I'm not saying that circumstances don't play a role, majority of people are not rich, their is an element of luck when it comes to wealth, circumstances, place of birth etc etc. My point isnt that these things don't exist or doesn't play a role, it's more that I will not blame a system for my lack of wealth unless that system is oppressive and removing my ability to enhance my circumstances. I don't believe this is the case in America and in most of the western world.
Its a reality that if she had a higher income, she would gamble more money. She will still be an addict even if she had a higher income. She needs to resolve her gambling problem before complaining about her smaller paycheck, because she will still gamble it all away if she made $50hr.
This might be true, addiction is a heavy issue that people deal with. What I’m seeing here is someone who is aware and is no longer ashamed of the fact that this is a huge struggle. She might even be ready for treatment, and ready to process the reasons behind it all - but it’s expensive to hire a proper counsellor - more money would make it easier for her to get the help she seems ready to get if she had the means. We also don’t know how much she gables, it could simply be scratch tickets because that’s what she can afford, or poker in the casino app… addictions are primarily coping mechanisms
@@MfckingDye that's not the reality, that's your assumption. You don't know how much she gambles, how she gambles, how often, etc... She could gamble it away or she could use the money to afford the very expensive effective therapies for gambling addicts. Because if you can deal with the core reason for addictions (i.e. coping) then you can overcome the addiction. But that takes money. And a lot of it.
@@MfckingDye true people who are addicted to a certain thing will only do more if they have more. They love making random excuses. What they need is to see a therapy about their addiction then the path in front of them would be more clear.
We've had; lgbt vs Christians, Liberals vs conservatives, atheists vs religious discussions.. never would I have thought rich vs poor would be the most tense🤣🤣
There are some who speculate that among different social issues, whether that is LGBT/Queer issues, political issues, religious issues, economic issues and the problem of poverty often tend to be the most impactful on people's lives and bring out the most controversy. I guess they were right (at least in this particular instance).
Hustle culture has produced a lot of these views, that poor people just don’t work hard enough. So many rich people think they got rich from skill (which in behavioural finance is called excess extrapolation and overconfidence bias) I would suggest everyone to read Malcolm Gladwells book Outliers and also Daniels kahneman thinking fast and slow, it explains luck and the success paradox in detail 🤙🏻
I'm going through graduate school currently taking behavioral economics, the idea of extrapolation and overconfidence bias is fascinating. Do you have any journal articles that you'd recommend as an entry level point to understand these concepts more clearly? I'm already assigned Thinking Fast and Slow for class readings, but I will check out Outliers by Malcolm Gladwells as well.
I am a recruiter and would say “poor people” work a lot harder than “richer people” and typically are of the same intelligence for the most part. The difference comes down to choices and circumstances. People with a better career typically made a decision really early on, on what they wanted, and then went for it. Their choices have a monetary compartment and it fit rates their decision making. Poor people are often a victim of circumstance; either they did not have the support system which allow them to believe they could achieve what others could (although could easily do so), or they did not have the financial means to do so, although in North America, there are ways to bypass this.
There is an element of drive and innate talent though. And there is also the crush of poverty and the condition of coming from poverty as opposed to growing up rich. I went to university but I didn't have the connections coming out that other people did. I didn't have the class either, though you do learn class in university! You can level up.
23:47 David hits it again with his response to this. To others it might just sound bitter or flippant but my goodness, its on point. There are billionaires who truly want and do give back but I doubt any of them worry about social pressures to be socially responsible - their actions say none of that.
I'm currently homeless, living in a motel. I'm in a wheelchair and I'm a DV survivor. I'm on social security. If I COULD work harder, I would. I just want to be able to focus on living, rather than the basics of surviving. Being poor is exhausting.
i’m sorry to hear that but u could always start a youtube channel, start a drop-shipping business, resell, possibilities are endless but u have to be willing to take that risk.
There's also an incredible amount of ableism in our society for example, half of the people living on the streets are suffering with severe mental illness. I'm glad that we're having a conversation about this.
It’s true. But if you’re able, you shouldn’t be complaining and start getting to work. Also helping those people with mental problems is very important and it’s overlooked.
I hope Hanifah has sold her book and got to see the fruit of her labor and I hope that the struggle she went through & made it out of is the testimony that has ended up pathing a way for success and happiness in her life. I feel for her deeply and I hope she is blessed beyond measures.
10:18 Bill saying that if you "disagree with the law, you can go lobby and change it" is mind-bogglingly ignorant and wrong. How is a person working minimum wage, living paycheck to paycheck, supposed to have the energy, resources, or even time to do that? And EVEN IF through sheer force of will they do, how are they supposed to compete with the well funded lobbies backed by corporations who want to keep those loopholes in place so the rich can exploit them. Blows my mind how someone could be so tone-deaf.
Yes! That was so condescending I paused the video when he said it. Who's going to lobby more effectively, billionaires or the poor? That guy was a joke through the whole video
Most lobbyist have a tonne of money which is why some of these regulations favour the rich. Why do people need to file their taxes? Many other countries don't do this...
"You think because it's the law, it's okay"? WELL SAID MY GUY. I feel like some of the rich people in this video kept ganging up on him, but he made some valid points that they just completely disregarded.
The rich group does not know the phrase "spirit of the law" at all. Sure, you can get out of paying your taxes if you jump through a bunch of loopholes, but why would there be taxes on the book in the first place if they never planned for you to pay for them?
Bill kept talking about people who "create value" and then went on to dismissively talk about his mother who was a schoolteacher. If a person who dedicates their entire life to educating the future generations isn't creating "value", then I don't know who is.
It depends how many people you create value for. If you teach or work at a restaurant or in a factory, you create value for those few people that you impact with your work. If you develop a software or start a company that produces products than millions of people buy, you are creating value for millions of people. Rich people (at least those who are selfmade and honest) are rich because they made more valuable transactions with other people. If I sell you something and our benefit from that trade (in monetary value) is 1 dollar for each of us, and I do this with million people, then I have a million, but it does not mean I took it from people, it is the opposite, million people have a dollar thanks to trading with me.
@@ondrejcerny3928 By that logic, how much value then, did the people who educated people like Jeff Bezos, Bill Gates, or Steve Jobs create? Those men didn't learn the things they know out of thin air. They became successful because they learned from others and went on to apply that knowledge. "If I had never [taken] that single calligraphy course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts." - Steve Jobs
"How much do you pay your employees?" "More than enough." I think it would be interesting for the rich people to live off of what they pay their employees...if it is minimum wage, but not a living wage, then that doesn't cut it
The record label guy that makes 10 million a year threw a tantrum at a guy for saying record labels "exploit" artists and workers (which they do especially sound engineers), yet he agrees that 15 dollars an hour is more than enough for minimum wage, WOW.
It is enough if u aren’t gunna be buying iPhone each year if u aren’t gunna buy the newest car it is enough I do think u need a little more but my mom gets paid 24 dollars a hour and we are more than enough
@@pimp-simp5414 you probably live in a suburban area where the rent isn't %75 of your paycheck. Most minimum wage workers don't have cars, and live paycheck to paycheck. (I don't even live in the US, the cheapest car here is around $17,000 beacuse of customs)
David was totally right about the exploitative record labels, its disappointing they jumped on his point. So many of the big artists we know now have made their disputes with record labels public, it’s shocking people would argue against that.
Its one of the most predatory industries. I couldn't believe what I was hearing. Especially back in the day. Chart toping artist would still be living in poverty. And Jay Z didn't become a billionaire just because of his singing, it's mostly because of his other businesses and investments.
I was shocked that the “rich” guy defended record label exploitation pinning it on the label’s CHOICE to accumulate lots of artists that may never be successful. How is that the artist’s fault? Record labels notoriously are ridiculous with the way the use their resources and they make the artists pay for their recklessness
Record companies are in an unequal power relationship with artists. The 'risk' in their investment (which major companies can easily handle) is by no means comparable to the exploitation of artists.
i understand the thought concept of “minimum wage is just a start, get promoted” however those minimum wage jobs have to exist, someone has to work at the grocery store, mcdonalds, etc these jobs EXIST for a reason and we appreciate these people for the jobs that they do so why not pay them a livable wage??? we couldnt live without minimum wage workers at this point in our society so why do we not care if they can live.
I agree. If min wage is just the start, then it wouldn't be legal to keep paying someone that amount after they've been with the company for long enough. We always need people to work these jobs, why shouldn't we always pay them a fair wage? There's plenty of people I know personally near retirement working min wage jobs. I really don't like the guy that argues for the "I'm taking a risk!!" thing. Sure some people are taking a risk, but some of these huge companies are not taking a risk (McD's ain't going out of business any time soon, let's be real here). And he's making literal millions, then whining like as if he's barely breaking even!
agree. if there is a demand for labor then the person who has to fill that role should be able to survive. what does “minimum wage” mean when it’s not even close to the minimum amount of money that is required to live.
You need to understand logistics of these jobs, If at a mid country McDonalds 3 customers are visiting per hr and there's 2 workers and 1 manager , After paying rents , raw materials , electricity , franchise fee is the business making enough money per hr to justify playing more ? Also some restaurants are more popular and have lines of customers waiting to get in and another line at drive-thru . In such places workers make double the minimum wage or more but then you're expected to be working faster and have more qualifications as chef, etc
@@rx58000 you’re still ignoring the fact that the ceo’s of these companies have more money than anyone would ever need. Billionaires should not exist, if eliminated their grotesque salaries there WOULD BE money for a livable wage for the actual workers.
@@lesleyelizabeth158 What you say is true no one needs billions of $$ but the companies are *valued* at billions meaning if tomorrow CEO want's to sell the company it will be roughly sold at it's valuation but until then it's like your house just got valued at 20 million dollars by some analyst, fine but you don't get 20 millions dollars until you sell your house and then you are taxed on your gains. Tech companies can have insane valuations as their products are digital so their estimated value is very high as they physically don't have to manufacture anything , they make money per customer serving ads . Calculating valuations with currency should be redundant for internet leveraged companies. But where i agree with you completely is for oil, gas and mining companies where CEO is doing literally nothing
Hanifah is absolutely right. Everyone is a unique individual and handles trauma differently. I have been through years of traumatic events and have developed somewhat of a victim mindset as well as complex PTSD. Going through trauma and having PTSD is scientifically proven to change your brain. The environment we grow up in has a huge role in who we end up becoming in our adult years. There are real issues for people who go through childhood trauma that impacts how successful some can be. Not everyone can take their pain and make themselves turn into a powerful rich person. I do think that therapy helps and I am a believer in it but PTSD really is a terrible illness. Thanks for all the likes! Never gotten this many before. Happy to see so many of you agree with this truth.. Spreading awareness about mental health is so important and I am so happy topics about it are being talked about more than ever now! ❤️
She also made such great points about the systemic issues that POC communities face, the other two who were talking about how much money people spend on shoes or the amount of hours studied per week are completely not seeing the bigger picture or depths of systemic oppression
I have PTSD too and can say with FULL CONFIDENCE that therapy DOESN'T WORK AT ALL! 🙅🏽♀️ I'd NEVER recommend it! I KNOW! I tried it for 12 YEARS and it did NOTHING but TRAUMATIZED me MORE! I agree that trauma plays a big role in how someone turns out, what they'll do, what they'll be and what may or may not happen to them.
Exactly!!!! If my parents are alcoholic there’s a chance I will be sober my whole life, but what’s more likely is that I will be an alcoholic. I cannot belive people can’t grasp that concept
I was a server for a few years and averaged about $30k a year. I felt rich. I live in a pretty cheap area in Missouri. I finally had some savings, I bought a new car, I was planning to buy a house. And then covid happened and I lost my job, but that's a different story. It's amazing how much your money can stretch depending on where you live. $30k in a bigger city would have me scraping pennies to get by, while $30k here is pretty comfortable.
I think your perspective is a great reason for why minimum wage should be tied to the standard of living and adjusted annually for inflation. In some respects it makes sense why a business owner in Iowa where property values and other sectors of the economy are relatively affordable would oppose a 15 dollar minimum wage, whilst someone living in New York may even claim that 15 dollars isn't enough. The bottom line is that everyone should be guaranteed a salary that at least meets the standard of living.
Same with Mississippi. When that woman said she’s poor and earns $45k a year I was shocked. Where I live that is a decent amount to make, and is considered middle class.
@@nathansharma1667 I agree, I think minimum wage should be determined state by state as each state has their own different cost of living and like you said adjusted if needed.
And like... The risk of investment only applies to the poor trying to get out of poverty. We see banks crashing economy in US, starting worldwide crisis' even and did they suffer any consequences of their risks like some poor loose all they have? No, banks are sheltered. So thats also it. And the rich often do have employees that think for them and invest
@@mmgs1148there’s a significant difference between rich and elite. Half of the panel on the show is considered rich but none of them are involved in banks or monetary policy creation. The “poor” people on the panel have the exact same opportunities available to them as these “rich” people. The poor people said it themselves that they are actively choosing to hold onto their vices and blame society for their shortcomings.
Bill’s point about minimum wage is exactly what David was saying - just because someone is willing to do a job for $7 an hour doesn’t mean they shouldn’t be paid minimum wage, you can’t exploit someone’s desperation for money to your own benefit, and then convince yourself they’re “willing”. No sir, they’re oppressed and desperate.
He wasn't saying the exact, same thing. Bill's point was that not all labor is worth 15$ per hour. And if the minimum wage is set at such a high wage, then you eliminate all of the potential opportunities for the labor force that are worth less. It becomes no longer possible to take a job that is worth less than that new minimum wage. Nor is it possible to offer one at that lower rate. Which means that the job likely disappears or gets absorbed into another position. Which still eliminates the total number of jobs available.
@@yvettecamas5332 Why not? The living wage is more than that in a lot of places. What creates 'worth' when there are many jobs under that that destroy your physical and mental well-being.
@@wombat4583 every jobs has physical and mental stress connected to it, and I think logically its divided up pretty decent. A doctor has a lot more mental stress than someone who sells cars, hence a higher pay.
Example of the wealthy staying wealthy, and the poor staying poor : COLLEGE. In general, attending college is a privilege. But in college, the rich kids whose parents pay part of their housing / tuition have more time to study, can take the unpaid internships and gain the majority of experience, don’t have to work, etc.
@Kevin Cobb You realize student debt is the best kind of debt to have? Interest rates are insanely low, and if you're graduating from an ivy league, you best believe they're really intelligent to get a decent job. If I could take a student loan out just cause, I would. Because I know I could easily make more than enough money to pay the interest and then some.
Exactly, even some middle-class kids having that privilege allows them to climb up to the next class. I couldn’t eat lunch for many years and had to put myself entirely through college while helping my household. It’s extremely difficult and hard to see the other side if you have never had any assistance.
The rich people were dominating the conversation with voice, body language, and aggressiveness. I didn’t feel like there was a real exchange of ideas happening. This one really hurt to watch because the poor people were being dismissed and overpowered, and not by solid arguments or facts, just by personality.
Here’s the thing. How do rich people say they come from nothing, but then completely lack empathy or understanding of how poor people feel? All the stories from rich people like saying “my mom cried every night”, so why aren’t you standing up for other poor people? Why aren’t you doing your best to make sure that doesn’t happen to someone else? Exploiting the system, like using certain tax loopholes, mainly hurt the people at the bottom.
It seems like you have to bash poor people to gain respect in rich circles. If you’re rich and want to be accepted by your peers you say that poor people don’t work hard, even if you k ow from your own family that that is not the case.
Most people who have a desire to accumulate wealth often have a conservative, individualistic worldview. Their whole mindset is about self interest whether they are aware of it or not. They're always going to make that argument because that is how they perceive their circumstances as well as others regardless if they were born into wealth or not. That's why it always feels like conversations like these are missing each other because they have different perspectives; one side believes in more liberalistic views of spreading wealth amongst all while the other believes in accumulating for the self which is the traditional conservative mindset, the dog eat dogs of the world. EDIT: there are also those who are "self made" who change their worldview because they see the world differently after they see what happens when they change tax brackets & an innate fear of "losing it all" and going back into proverty or living below their newly accustomed to means that they so worked hard for.
@@KamariaHolden it’s not just rich people, it’s all people. I worked in fast food, and I guarantee if they could save my life or anyone else’s in a robbery, most of them wouldn’t.
@@good-tn9sr the ones who should be paying taxes this is true lol there is an interesting nuanced discussion to be had about wealthy people tax (around 500k-10 million annually) to ultra wealthy taxes (around 10 mil and beyond annually) and who pays what and how much it takes away from their annual income.
"i wanna be rich. i wanna take big risks and get big rewards and u should respect that" he said in front of the woman who just said she lives pay check to pay check. im sure she wants to be rich and take big risks too the problem is there is nothing for her to risk. she doesnt just have money laying around she wouldnt mind losing. the privilege and arrogance these ppl have defending a disgusting system even saying its a choice to be poor like???
exactly!!! time itself is also a privilege - one of the people on the rich side mentioned people can just watch videos to learn how to play the game and become rich but it’s not always so simple. if you’re working multiple jobs or are in school during the day but work at night, where do you find the time to sit down and learn all these convoluted rules when you still need to make sure you’re using every hour of the day to stay afloat? this whole episode just frustrates me to no end.
@@MauricioCelis thats not a mindset dummy, its called having no money to invest or task risks with. "poor mindset" is a made up talking point. nobody wants to be poor buddy.
Hes correct. She has addictions which are a great disadvantage to whoever employer would give her a chance and she clearly is in no control of herself. The truth is that she is just not destined for it. Unless she drags herself out of that hole shell never get better
This was very difficult/uncomfortable/triggering to watch. I think it is worthwhile for people to really sit with some sociological, political and even occupational science teaching to better understand the nuanced role of poverty, social capital and systems on choice and range of opportunities.
Yes its a VERY complicated topic, its like telling the government what to do with money but also not understanding they affect MILLIONS of people lives everyday.
I feel terrible for Mia's situation. As someone who has watched their mom struggle with various forms of addiction for a long time, gambling addiction is brutal and will completely cripple you, regardless of your income level. I watched my mom struggle with this when she wasn't making a lot of money, and then she went into debt and got into trouble with the IRS, and then when her job started making a lot of money, it just meant that she could continue to chase that high of getting an even bigger win, and it gave her less money to contribute to paying off her current debt/saving for the future. I sincerely hope that she is able to find the help that she needs, although like people said it's very hard to treat addiction when you have no money.
She is careless and delusional. She thinks if she gains more money her addiction will disappear. It does not work like that. When I got more money I bought more drugs. You have to kick the habit or the habit will kick you. It is a choice and it is also not a choice.
These rich people tell poor people to take more risks, throw their money into risky endeavors to get a big payout. Then insult and judge those same people for playing lottery or gambling.
I love this show, I do. Watch it without fail. I was really disappointed in this one. I feel like they should have vetted the grouping a little more evenly for both sides. $130,000 and a few million are such INSANELY different brackets of rich that this conversation felt really lopsided. On the 'poor' side, some of their incomes were household averages in other states, yet an unlivable wage in California...yet not a single person discussed the cost of living in their discussion. $15 an hour isn't minimum wage: it's $7.25 and apparently no one in the group knew that? How did the price of medical care never come up beyond throwaway comments about therapy when discussing money problems? HOW COULD NO ONE SPEAK UP THAT NO ONE CAN MAKE INVESTMENTS WITHOUT EXTRA CAPITOL. There's always arguments I wish that were made in these discussions, but I felt that even the questions guided the participants away from what could have been valid topics.
On the subject of minimum wage being lower that $15 at the federal level--and lower for specific fields like food service--I would have liked if someone acknowledged it.
To be fair, Jay Z didn't become a billionaire off his music. Guy straight up stole his company from his friends and fired them through a merger then started other ventures.
“Poverty is a mindset” but I’m in school and have medical bills, grocery bills, loans, rent and help out my family. Maybe my mindset is trying my best homie
@@salmaabdullahgb I completely agree, I do have privilege. But I am also in a position where I cannot pull myself out of being poor, especially because of medical expenses and supporting others/ bills.
@@SamanthaDavis-cm7yk Minimize on unnecessary purchases, get a second/third job, start a side hustle, stop taking out loans you can't afford. Some of the rich people in the video said they came from a struggling family. Although the circumstances may be different, it's possible to get yourself out. So yes, you do have a poverty mindset.
@@XunMoon Well clearly they wouldn't take out the loans if they could afford their expenses in the 1st place. Taking on multiple jobs can take a very bad toll on you and as this person stated they already have medical issues so why would they risk it. We should be able to work 1 job without having to go from paycheck to paycheck worrying about our spending and if we have enough money to last.
Being poor is a choice. Yeah, I chose not getting paid enough. I chose not being financially able to pursue higher eductation. I chose not having an inheritance. I chose getting rejected for a loan application at the banks...
I can feel and observe the 'game'. And honestly, it depends on you if you would join that 'game'. As for me, I would just wait for maybe about 3 years, if our country would become better before deciding on playing that shitty game. However, ur humanity would really start to deteriorate..
“If I don’t pay taxes, am I a bad guy” …yes. Absolutely. The ONLY reason it’s legal is because the people making those laws are benefiting off of that. You live in a society. You benefit from working roads, government paid officials, clean water, etc. this is how the rich stay rich. The burden is placed on the poor. And that is why they’re poor
Those tax codes that he’s talking about is accessible to everyone though. There are more incentives for the more wealthy people because they can provide into what you stated. These roads to success are given to everyone. There’s just sacrifices and hard work that go into it.
So if you take the child tax credit, contribute to your 401k, take deductions from student loans and mortgage interest, does any of that make you a bad guy too?
I agree with David when he says the rules are disgusting, I wouldn't want to be a billionaire either because it means I'm taking advantage of/stepping on others. I just want enough food, a decent place to live in, a job that doesn't consume all of my time and to be able to take care of mine and my family's health. That's what everyone should have.
@@americanidiotinchief259 Being a billionaire is a result of owning a large corporation of underpaid people that generate disproportionate surplus value for you and sometimes also for society. A billionaire has also been protected by their parents and even the government when they've taken risks that didn't pay off, and they love to take advantage of loopholes in the taxing system. Rich parents, luck, and a complete lack of morals. If you have those three, there is nothing stopping you from becoming a billionaire. And yes, you need to want to become a billionaire. Nobody becomes a billionaire if they aren't trying to steal and hoard as much as they can.
@@regileblindsea you cant have a large corporations if you don't create value from the first place, there's no such thing as underpaid people, you're paid according to the value you bring to the company, a lawyer is paid more because he brings more values than a cleaning service. For every risk that didn't paid off their employees still got paid the same, you seem to think that they should go bankrupt Everytime they take risk that didn't paid off, forgetting that their employees do not take any risk and still get paid off the same. Loopholes or not the top 1% still pay 40% of all federal income taxes. Nobody steal from you especially when you have nothing to begin with it's you who try to steal from them
One guy talking about how he takes risks with his money and his parents didn't doesn't say whether they were responsible parents and maybe gambling on risks wasn't something they were going to do raising children. He also said his dad died poor, so it sounds like he really didn't help his parents even though he is successful.
Bill was so focused on "well some people are willing to take risks and invest their savings" now bill, why would other people not be able to take those same risks? Let's use our brains and think about that....
@@DavidNunezPNW yeah I think throughout the video he seemed to really listen and be a little more reasonable. That one little argument just stuck with me
😂😂😂 He made no sense there. He mentioned they were creating value because they are “willing” to risk their millions of dollars. I’m like bro, that is a CHOICE, it doesn’t mean you create value or jobs for others; it’s also a choice that you’re able to make off the backs of others who are making crumbs in comparison.
Nothing upsets me more than a person who used to be poor and then becomes rich, which causes them to lose perspective about being poor. The lack of empathy is astonishing.
@@writerchick94 hell yeah, she lost that loser self-victimization mentality and decided to make something of herself, she felt that only she could help herself and not wait for some generous hand, and worked her ass off to be successful
I think a lot of the rich people are missing the fact that not everything they have came with pure effort. Yeah, your business is thriving and of course you put effort into that, but there are people that made the same or even better choices than you, that are not as successfull just because of luck.
It’s not just about luck it’s also about working smart. Some businesses who have more capital than others don’t get more successful than those who have lesser capital, the difference? Management.
if your desicion leads to something bad that means you didn't make right decision. Your decision was maybe theoretically right but in the end practically it was wrong. There are a lot factors in life that we cant do anything about but there is also a lot things in life that you can influence positively or negatively it depends on decision you make. if you are poor and you blame things you cant do anything about (for example blaming system or rich people) you will stay poor.
@@milos9758 But every change ever made to "the system" was made by one or more people who had complaints against the pre-existing state of the system. I get annoyed when people claim that complaining about injustice isn't productive, especially in countries with democratic political systems that rely on collective opinion to affect policy changes. How are you supposed to get others to acknowledge and combat injustice without making your complaints heard? Anyway...
how are you gonna completely discount their smart choices all down to luck? how do you know there are people who made "smarter" choices who didn't succeed. what is the measure for that? what is the source for that? that claim is backed up by absolutely no evidence
The facts are the only thing that matters. It's a fact that half of the ENTIRE American workforce makes 35k or less. That is not personal failure. In fact, it's completely OBVIOUS that it's systemic. You cannot compare someone that doesn't have the ability to afford food to someone that has all their basic neccesities covered due to the labor of the employees. It's a fact that Americans have had trillions of dollars stolen from them over DECADES. If you are poor, it determines where your life will go. It is damn near predestined unless you get lucky, underpay employees, become a doctor or inherent wealth. You only have 4 options in the land of oppurtunity. Is it POSSIBLE to work your way up some soul sucking corporate ladder?........sure, but it's highly uncommon and it's not because someone is smarter than you. Stop letting the media convince you that you can simply THINK your way into sustainability in excess. At a maximum, you can try. A job won't even do it.
Fantastic comment! I'd like to add some more stuff 1.) Like you said the income of your parents is a reliable source to determine how much money you will make. A black women growing up poor there is a 91% chance that they will die poor, a similar stat is true across all races and genders (except for one group: A white woman growing up poor only has a 57% chance of growing up poor lol) 2.) Also the most stolen thing in America is not, power tools from Lowes, its not shoplifters. Its like you said, its wage theft. Employeers stealing from employees is the most common form of theft in this country
Hi! I'm genuinely curious, I'm not from the US. But is the cost of living so high in the US that 35.000 a year is considered low? Because if you divide it by 12 it's almost 3000 a month. I do not have the same frame of reference so just trying to understand because I was genuinely surprised when the girl in the video said she 'only' makes 45.000 a year, when in my mind that's a lot!
There needs to be a whole series on this question, with different types of people. It’s such a complex subject. I personally wish there would have more of an anti-capitalist view, a foreign view, the view of someone who has renounced their wealth, etc. I’m sure lots of people watching also had something to say about it that didn’t get said. We need more of this conversation because it permeates almost everything in our life
I would have especially loved for there to be an immigrant view since citizenship/residency status is very financially limiting. This includes not qualifying for Fafsa aid for college, not being able to apply for many (well-paying) jobs due to no social security number, and facing issues with banking/opening a bank account.
The rich people in this video seem to have an inability to fully empathize, hear the pain and frustration from the people across from them, and truly acknowledge any systems in place that hold people back while uplifting other people (ie the violence of fully legal systems that allow wealthy people to thrive off of poor people without putting resources back into support systems). Nearly all of their advice and rebuttals boiled down to “learn the rules and play the game,” “it’s about a level of self control” and “rich people work hard and risk a lot too”
@@Ntantosthereal pathos tends to be the strongest appeal to humans (which I know that’s a whole philosophical debate and a whole on conversation) I would also say outside of Mia speaking on the justice system and consequences based on wealth, nobody was referencing straight “facts.” They were all speaking on their personal experiences and personal life philosophies not hard numbers and “truths.” I also appreciated David’s willingness to stand his ground and the little convo between him and Jinny (I think) allowed him to explain where some of his ideas were coming from!
@@Ntantosthereal tbh both sides kinda suck. Poor sides arguments special even though I agree with answers but there's reasoning behind there answers kinda sucked
i mean the last one is very true lots rag on ricg people and act like they dont work hard when actually they work incredibbly hard in alot of cases andidk about them not empathizing they seamed preety understanding to me
All the people representing the poor side still keep on mentioning money is the solution their problems or lack of money is the reason for misery, and yet sitting there defending poverty
@@Islander05 its also worse than living a normal life where rent and groceries are not something to worry about as a part of your natural human right to..live?! The direction of comparison comes strictly from the level of privilege you have in an unfair world. Next time when you pay for your groceries and the overworked, stressed out about rent cashier doesn't smile at you, dont come complaining about it.
I genuinely feel that the rich in this episode are out of touch. Just because some of them were poor at one point of their lives (most of them as children) doesn’t mean that they can relate to being poor as an adult. Having to fend for yourself is completely different than being dependent on someone who is fending for you both. Especially now with the pandemic, inequalities in ACCESS to resources, inadequate healthcare (physical and mental), the opioid epidemic, criminalization of certain groups of people (race base AND socio-economical), etc. Poverty isn’t and will never be a choice. Poverty is a cycle that was created through exploitation of people from those who think that other people’s livelihoods are worth risking to build capital.
If anything I think the people who were once poor and are now rich have blocked out those years and the trauma from it. I think they don’t want to remember what it was like
My best friend growing up was dirt poor. He had crappy grades in school even though he was a genius (mainly so he'd qualify for summer school so he could get out of his house and go downtown during the summer since his mom didn't drive and he was stranded in the middle of nowhere trailer park). Job Cops helped him get a summer job once he was 16 and he started doing better in school because he had a way to get to work and summer school interfered with his work hours. His mom couldn't keep a job because of mental health challenges and substance use and life choices. Because he was poor he got a free ride to college for a degree he has never used, but he was able to work at Verizon and lease a car while living on the college campus. Great salesperson and to the day, he's basically a regional manager at Verizon now and had a million promotions. He bought a house with his SO only 5 years out of college and then recently sold it and moved to RI with his spouse. Even if you're poor initially, if you're smart with opportunities presented to you, you can get out. My friend had no help from his mom growing up and at one point his mom lost her trailer and she lived with them in their house for a couple years while she got back on her feet.
Hanifah is a force to be reckoned with. She has every excuse to be a victim…BUT. SHES. NOT! She has the intellect to recognize the systemic factors against her, but is not in a victim state of mind. She will prosper soon I just know it. Absolutely inspiring, so moving.
The love of money is evil. Despite the valid arguments presented, one particular aspect stands out: the accumulation of excessive wealth through exploitative means is unnecessarily cruel. The question arises as to why an individual would require a billion dollars. Why as a society are we being influenced by materialistic values that lead us to be consumers.
@@vanessaalbuquerque4709 How do you make money without exploiting people? It's impossible. You *must* be immoral and evil, exploiting people, to acquire any sort of wealth whatsoever.
And the “poor” people are looking at the “rich” people as if they are evil and exploitative. I think it is important to remember that the “rich” people in this episode all came from poor backgrounds so they have first hand insight into the issues and the challenges that poor people face. The “poor” people in this case do not have the same insight into the lives of the rich
empathy for what?😂 david said he is going to organize a union to be paid more at his job in disneyland. he seems like a decently smart guy so i don’t why he can’t just take some night class at his local community college, get an associates degree and work as like a dental hygienist or sum making 80k a year😂 I have no empathy for people who talk their tail off about how the system is rigged but have no desire to escape poverty
It would be interesting to watch a self made rich vs inheritance rich
well if thats in the context of basically anyone envolved with this american degeneration tv time series of cbs "make it" then they all got more of a "hand out" than any inheritance kid it was same amount of luck but just much more easy to fulfill those rolls and also only difference is they are cruel unconscious and incompetant and live by sliver narrow illusions and willing to impose there fragile ways on everyone else of which are based off of corrupt structures that enabled them
So true
YESS
There’s no such thing as self made rich
@@christianbeach8192 not a fact
Some people might lose everything out of their poor choices, but blaming general poverty on people "laziness" is a naive statement that doesn't take in consideration multiple external factors that played a role in the process.
Like what?
I agree with you that it's not laziness in ALL cases, but there are also some people that just don't want to work and live off of the system. Take universal basic income, for example. People who don't want to work will only be more motivated to not do so and live off of taxpayers who DO go to work.
@@SJ-ru4ej Again, still generalizing.
@SJ the vast majority of people in poverty are not like this. This is a stereotype the wealthy and powerful made to make it easier to ignore and not help our citizens in poverty. It's also rooted in racism- the "welfare queen" is a stereotype specifically of a "lazy black woman playing the system"
@@surfhappens202 He said some
It makes me really sad that nobody even mentioned the poverty cycle. This issue definitely needs to be discussed more, preferably with people who are experts on poverty & the economy
I agree. I love these middle ground episodes but lately I've been thinking they should definitely reformat to include actual experts for some topics or start another series, especially since this channel has almost 7 million subs now..
This is not about experts it's about what people experience and think
It would ruin the whole premise of the show
Definitely i wonder how jubilee goes about casting these videos
Im down for a rich and poor middle ground series… like at least a part 2
Why would you put an expert on Jubilee when you can put on a nonsensical addict?
Sometimes Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.
Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin ,While also continuously learning from mistakes and improving
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
@@williamDonaldson432 Market behaviour can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Marie Holt to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I wish they would have touched on health related issues causing poverty as well. My mom is very sick and lives with major illnesses which makes it extremely difficult for her to work. Getting disability is actually a lot harder than people think. I'm 17 and have been working different jobs to support my mom. As it can be a choice, there are many factors that can contribute to why somebody is unable to fully work and support themselves.
My mom works for disability lawyer he doesn't get paid unless social security pays out. Look into a lawyer.
Yeah, and also poverty causing health problems which cause poverty. If you can't pay for medicine/treatment, you miss out on opportunities to make money, and could even end up with permanent disabilities and chronic illness that are even harder to overcome, specifically because you're already poor.
I agree 100%. My mother in law has a brain tumor and hasn't been able to work for 30 years.
Yeah. Sometimes life can happen to some people and that's not a choice. There are truly a lot of factors that can lead to poverty or wealth. But when you're down, it doesn't get much worse than that. Just don't give up. It's not easy, but just don't.
what’s your cashapp
The first girl that assumed everyone has access to facebook really lost me, imagine living in so much privilege that you think having a phone and internet is a given
ikr. Even if you go to the library, assuming you don't need a home address for a library card, you only get 30mins a day
@@roscoeswetsuit1218 true but first you need to know about those opportunities, if youre homeless and dont have a phone, you probably dont even know whats at reach on the internet
Exactly lmao I got wifi this year!!
nah fr her answer kind of annoyed me
I do agree with that, but at the same time, I feel like at least where I live, you can access the free internet at cafes. Also, these people are "poor" not homeless. (one was ik) But people with a house can probably save up to get a phone eventually and access it. But I do agree with what you are saying.
This episode was tense. Normally at the end everyone hugs each other but this time they didn’t say a word lol
i would not say a word too more then casual goodbye.
Exactly but also COVID
Class has always been the real divider.
Wonder if the rich guy ever reached out to the mother at the end
@@RockinLoud360 I did :)
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I think the statement that "we all have choices, but we don't all have the same choices" was such an important point. Some people have to choose between investing in housing or food, while others choose between investing in a rental property or in the stock market. You can't invest in things to "get ahead" if you're constantly having to choose which need to fulfill.
Amazing point
Thank you for this comment ! This is exactly IT !!
The people that were successful came from poverty, they made choices that they were not going to stay there. They did it
@@karenmaher2092 My point still stands. The poor people weren’t necessarily given the same choices as the wealthy people. We don’t know every choice each person made, or every option each person was given, to put them in the places they are today. Thinking that poor people could just be wealthy if they “made better choices” is just silly. Especially in today’s economy.
@@taramarielee2904 those same people on the other side made different choices, they were poor too. They won't necessarily
What got me “I go into a job and work as hard as I can to get a promotion” I have done this at every job I’ve ever had been working since I was 16. All that has gotten me is minimum wage with higher expectations and picking up the slack of those who do minimum work.
I've done this as well since I was 13, and it has resulted in a promotion at every single job I've had. Although I do have to say that I had to communicate that I wanted to be promoted, to which I got the reaction that I had to show that I was capable, which I then did. Has never not worked for me in 12 years of working and 4 different jobs.
This is where the concept of risk comes in.
You work hard as you can. You excel and become truly valuable to the company. You tell them you want to get more responsibility...and they say no. Your next choice determines whether you are going to succeed or fail. When you let someone know that your behavior won't change regardless of what they do you remove all power you once had.
Reward rarely comes without risk. They won't give you opportunity? Find someone who will and quit. People often stay within a company or position because it's comfortable and familiar, even if it's a terrible job/company. If you don't want to quit, get an offer and bring that to the table to negotiate more responsibility/salary.
But you need to be very honest about your performance and how it compares to others. None of this is applicable if you do your best but aren't well above average.
@@MBrulla I couldn't agree more. Perfectly explained 👍
@@nickn753 Thanks. This isn't limited to jobs, either. Universal concept, whether it's work, relationships...all applicable.
@@nickn753 thats great, ur a minority
What people forget is that the poor literally can't save money to invest in something, go to school, etc. They're just trying to survive the DAY. I was taking the city bus for a while and would buy the monthly pass, because it's cheaper than paying for a single ride each time. I didn't understand why everyone wasn't just buying the monthly pass. It hit me that they will never be able to save the $50 at once for the pass because they're just trying to scramble enough quarters for today's fare and for something to eat.
THIS! Also ironically how the world makes more money off poor people in the long run, than off those who can afford the monthly pass etc.
Exactly. I was one of many people that was lucky to get a bus pass that was at the student rate. But paying $44 a month can easily be groceries for somebody. But a lot of people also don't know is that if you are on assistance they can give you a monthly bus pass.
I was also just thinking it cost $3 to ride the bus for a day. Let's just say somebody rode the bus 25 days out of the month. That is $75 that they have paid to ride the bus for a month when a monthly pass is $44. But to someone that is making money stretch that's all they can do.
I had similar views for a long time until I worked for Disney and my eyes were opened big time. I had coworkers with disabilities and coworkers who hardly spoke English and they had families at home and kids to feed. Like you said, they didn't have the time and money, or sometimes physical ability, to go to school or work harder to get a better job. For some people, minimum wage job are it. they are the only jobs they are going to be able to do. and youre telling me those people don't deserve to make a living wage? or that should be temporary and they need to move on to something better?
@Delores B Bro I lost money on stocks
The woman with the gambling addiction who thinks making more money would solve her problems is completely delusional... giving her more money would be like dumping gasoline on a house fire
More specifically, it would be like dumping $60.000 on a fire
@@dennis7ckrii343or even more specifically dumping 60,000 into a gambling addiction
Yea, addicts are really sad. It makes me wish therapy and medical care was more accessible. 😔
She's crazy and I can't believe what she said
It would be reasonable if she just said it wouldn't stop the problem but it would make it so that it's not as big of a problem for her. To say that money cures addiction is delusional.
"Give me 60k and I'll stop gambling"
Like dude, that's not how addiction works. She would gamble away the entire 60k in a day.
exactly
Facts.
Exactly its like the black girl said, A mindset and without changing that first youll never get ahead
You speak the true true
I was thinking the same thing. I used to be a dealer in a casino and have seen rich and poor gamble away every last cent. She’s admitted to having a substance and gambling addiction yet she thinks that will all magically go away with more money. There are plenty of free programs that are out there to help with addiction, if she isn’t even starting there, then she’ll never get anywhere. Having a substance addiction is likely already preventing her from getting a better job, so unless she makes the choice to start to better herself, she will always be poor and have those unchecked addictions.
i think rich people always forget that people need reasons to live. you can’t just work,work,work and save money and disregard everything else for the instability of one day becoming a millionaire or a billionaire. people need something that makes them happy and if they’re living paycheck to paycheck and happen to have a small amount of money left, they should be able to indulge in that without the fear that they could be homeless next week.
Perfectly said. People have a very oversimplified view of these kinds of issues, it’s not easy to get out of poverty.
It’s about sacrifice imo. I’m a single mother with no assistance for family, friends or the government or the father. I was able to sacrifice for a period of time and live below my means to invest in one rental property that turned into two, three and will continue. I don’t have to be a millionaire or billionaire; I can sacrifice buying things and find joy in building my future, raising my son, or doing art or sing (things I enjoy) so that one day I will be wealthy enough to retire from active work, travel, and give my children resources to build upon. Where there is a will and determination, one will find a way.
That’s fine, just don’t complain about being poor when you weren’t willing to make the sacrifice to eventually become rich.
Then they need to create a reason to live themselves.
@@purplehawk2271 In this case it still isn’t the person’s fault. They should be getting paid enough to not have to work everyday and maybe even afford to go on a vacation.
At my very first job after high school I was told by the hiring manager that if she knew that I was going to college two months after I was hired she wouldn’t have hired me. And I applied for Walgreens while I was in college and did not get that job because the hiring manager said that he knew that once I graduated I would quit for a better position. So if these minimum wage jobs are temporary, then somebody needs to tell these minimum wage jobs that. Because they are hiring people with the expectation that they will stay for the long-haul
this.
I have a job in food delivery. They hire everybody but you get payed per delivery. So I can just choose how long I want to work and continue working part time while finding another job. It is a temporary solution though.
@@dragonlord1225 i'm in the same boat as you here in the UK - it's honestly the best job that you can get as a student - as the amount of money you get is proportional to the effort in which you put in and you have such flexible working hours
Very much this
If you own a business and expect to change your employees every time, you are not worthy of owning a business and should probably work as a cashier for the rest of your life.
I know I'm a few years late watching this, but I really would love an update on Hanifah. I see that she is an author, I would love to know her story and I hope that she continues to perservere. The brief of her life that she revealed here is so inspiring and when she started crying, I started crying. I'm rooting for her! I pray all is well with her now! ❤️
Same! I'm trying to see if I could reach out to her. Anyone have any idea how to contact her?
Can we get this conversation but with people in a middle-class position vs those who are rich? I feel like it would be a very interesting conversation and a lot more nuanced with people in the “in between”
Middle class doesn’t even exist anymore. It’s either rich or poor
@@zeuz4218 It does exist cus I’m not rich nor am I poor sooo I’m not gonna call myself rich when I’m not
one of the "rich" guests made $100k a year. That's middle class.
@@sophiaince9582 I’m in between as well but I can’t afford to BUY a condo in luxury area or 100k car. There’s a certain line bw rich and poor.
I agree
Therapy being too expensive was a very important point and I think mental health wasn't discussed enough. I believe that making bad life choices often derives from trauma, escapism, hopelessness. Poverty very much amplifies these factors. Selfmade rich people basically argue that they were determined and managed to pick themselves up so they deserve everything that comes to them nd they do. But the flipside is that people who are paralyzed because of mental health issued that are often seen as just being lazy don't deserve anything. And that's sooo fucked up. I do not believe that weak people should be left behind because they're weak. We as a society have come far enough to overcome natural selection and instead help everybody to lead a happy life without worrying about literal survival.
Sorry for the rant
You are right. It's ableism.
THIS!!!!!
Actually natural selection made us this far, our ancestors, who cooperated and lived in groups survived and those who went by them selves didnt. Helping each other is in our nature.
This is so important. Through Canada’s healthcare system I can be given help from a social worker or psychiatrist for free with the permission of my doctor but if I wanted to find a psychologist I mesh well with and can receive CBT help from, I have to pay upwards of six thousand dollars a year for bi-weekly appointments. That doesn’t even bring up the fact that testing for things such as ADHD average at $3000 per test.
The mental health crisis in North America is getting worse by the day, especially now with the ever-increasing effects of climate change, the worsening of the pandemic and the increase in the housing market (specifically in Canada, I’m not sure about the US). A lot of young adults are stuck living with their families, which in some cases are extremely toxic and unhealthy environments, worsening any state of initial joy, motivation etc.
Big changes need to be made, and there’s little hope left in me that it will get better, but a part of me still hopes it does.
No you are exactly right. With the funds it takes to overpolice low-income neighborhoods we could literally be giving accessible cheap therapy that could lower homelessness
The 'poverty is a choice' topic really hit home for me because I had to write an essay about if poverty is a choice in school. Being underage means that if my guardian is struggling with money, i struggle as well. At my age, being poor (which i am) isn't my choice at all, it's been thrown upon me. My parents have worked and ARE working their butts off for the past 3 years to get out of this poverty cycle but there are many factors blocking them from succeeding. Basically the point of what I'm saying is that being in poverty isn't a choice at first, it is your choice to try and get out of that cycle and some people do try their hardest but just don't succeed. The people on the 'rich' side think that if you grind,grind,grind you'll get money and succeed and that's not the case because life isn't a straight line. You don't just grind ------> then get rich because there are so many elements that prevent you from reaching that wealth and we've been convinced that grind=success and that's just not true in so many cases.
one of them is like having the buissness brain that lots of these billionaires have
The hardest working people out there are the working poor. Plenty of rich people who barely do anything but have money. Definitely, we can say hard work does not necessarily always equal success. That is one of the biggest lies of the so-called "America dream" that has ever been told
Your parents should’ve taken a Facebook course 💀💀
@@cjcastro7589 ???. i don't understand nor know what that is.
@@lovelylaola neither do I when she said Facebook courses I had no idea what that was or if they even make people rich
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
Although stocks are now rather volatile, you should be okay if you perform the proper calculations. There have been stories of people making over $250,000 in a matter of weeks or months, according to Bloomberg and other finance media, so if you know where to look, I believe there are many wealth transfers during this recession.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that’s the most effective way to enter the business at the moment.
@@williamDonaldson432 my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
I won't pretend to know everything, though. Her name is Annette Marie Holt but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
@@williamDonaldson432 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
One big thing people don't often think about is that rich people can essentially buy time. Poor folks might have to work two+ jobs just to pay rent and eat and they don't have any extra time (not to mention energy) after that to do much else. For example, if there were two musicians, one rich one poor, the rich one is a lot more likely to make it big--not by lack of talent for the other, but because they had the time to practice every day, and probably started practicing earlier in their life since they could afford equipment sooner.
then make sacrifices and create time for yourself
So true. Really well said.
@@baeseulgi1742 that's not always an option, everything they said really just went in one ear and out the other for some of y'all😅😂damn
@@baeseulgi1742 you assume we are a monolith and everyone has the same circumstances. And that's a terrible mindset. You dont know what's going on in the poor person's life that making it harder than his rich counterpart to succeed. You assume too much that's why you make these simplistic answers.
Exactly! Also, this amount of stress and pressure that we have to put ourselves under isn’t the same. We simply can’t risk it all, because if we don’t make it we have nothing to fall back on. Nothing. Those that came from wealthier families have better opportunities and can take those risks. If they don’t make it then their family can support them or they can find something else.
The movie Parasite is a perfect example of this. Even if you work a job that pays and you’re poor, it’s still not enough for one to break free from that lifestyle of labour or get anywhere. The cycle of rich continues while the cycle of being poor does too.
That doesn't explain the poor people who end up becoming rich.
@@jeremiahnoar7504 you hear about the people who become rich from being poor because it’s not very common. We think it is. But there’s a lot more poor people in the world who stay poor than the very small percents of people who do and end up making headlines because of it.
@@noahw1229 sure but the issue with your post was the last sentence about the cycle of being poor is inevitable. I don’t think the number of people who go from rich to poor really matters so long as people clearly have the opportunity to get out of poverty.
It’s like breaking the once thought impossible 4 minute mile. It doesn’t matter how many people have broken the record. What matters is that enough people have done it to show that it’s clearly possible.
@@jeremiahnoar7504 enough people, what a joke, the percentage of those people is too low my dude.
@@aaaaacdhhllmnnv the percentage of those people are too low? Compared to what exactly? More people have made it from poverty to upper class in the last 100 years faster than they have in the last 1000s of years. The poor in America today have more access than kings in the 1600s. Yes, in an ideal world poverty doesn't exist and everyone swims in a Scrooge McDuck gold swimming pool but our world is far from ideal, but it's also far, very far, from what it was even decades ago.
“Do you think some people don’t have the same access to choice?” Yes. That is exactly the issue here.
Because we live in a market society, the access to goods, education, healthcare, well-paying sustainable jobs, proper nutrition etc, is far more difficult for those who are poor. People should not have to choose between sending your child to school or feeding your family.
they should not have to but unfortunately you have to
Don't have children then, plan ahead, and once you've saved enough money then have a family.
@@IIII...... my mom had that plan then my dad died so stfu
Well said
@@IIII...... Bro are you insane? First of all, I think it's laughable that you think middle class people can survive on a single income. But secondly, let's not forget that these people who aren't middle class do jobs that NEED to be done. Some people have to work in a grocery store or have to clean toilets in order for society to function, you realize that right? So all of these people who do necessary work are now just forbidden from having kids? Not only is that fucked up but if that really happened the population and the economy would absolutely CRASH. The economy's job is not only to provide production but also to provide REPRODUCTION so there is a steady supply of labor.
Go study some econ 101, you buffoon.
I think that the point David was making toward the beginning was that labor theft exists HEAVILY in billionaires and multi-millionaires. You cannot realistically work enough hours and perform enough labor individually in a company to earn billions, that profit is derived from the thousands of underpaid workers that facilitate those processes and products. Wealth hoarding is ridiculous in this country given that our capitalist society favors these major corporations where the CEO rakes in millions, if not billions, off of the minimum to mid wage employees who made it happen. I don't believe that all rich people are bad, but ethically and morally, billionaires should not exist.
hanifa is really admirable. living homeless, having such trauma, having to flee her home and family. i really hope she gets stability in all forms, and just has a nice life in general.
yeah, but she also claimed Islam to be a cult and promotes pedophilia. That is like saying 1.8 billion people are pedos....
@@indietof im muslim and its just the villagers are crazy
@@indietof The fact that you say that, in spite of everything she went through, shows me that there must be something “cult” like about all of these religions. This is not a time to defend Islam. This is a time to be a compassionate human being and simply wish her a nice life and stability. That’s it. No “buts”. I have a feeling she will be just fine…
@@indietof she said an “Islamic cult” that could have been the Nation of Islam who aren’t even truly Muslims since they believe Allah is multiple gods (or something like that idk they’re batshit crazy)
@@indietof omg time stamp? I can’t find it
It's frustrating how the "rich" don't recognize the fact that nepotism exists within many industries like the music industry or entertainment industry which makes it harder for someone's talent to be recognized if they haven't come from a well-known family or the fact that many people who are wealthy are heirs or heiresses of families who have generational wealth from avoiding paying taxes for generations (I even remember reading a story of how one millionaire or billionaire even admitted how spoiled his children are).
@@andrewfreeman88 He never said nepotism was only in economic class but the rich people in the video. Don't recognize it and ignore it.
This exists everywhere but I dont think its systemic. It has always been "human" to hold certain people higher due to their lineage or mentors simply because they will probably be more qualified for certain things whether its about education or connections
A big part of working to become successful is making sure your family will be too. Doesn’t mean that there isn’t a place for someone else too.
Nepotism is real, but a lot more well off people today are self-made. They were early adopters in things like the internet and bitcoin.
Reads like a comment from someone who failed as an entertainer and is making excuses for themselves. Plenty of actors and successful music artists don’t come from families “in the biz”.
If your an entertainer then you would do it for the art, not because you hope to be a big shot.
This was a really interesting discussion. I hope next time you would invite rich employers and their/other companies' low rank employees. It'd be interesting to hear the perspectives of both sides, especially of the employees about their labor policies, salaries, and other stuff.
This is a great idea!!!
That's how mf's get fired, sounds like a conflict of interest for the employer, they already know they're in the wrong.
Love this idea !!!!
Yes!! I would absolutely tune in for that. I think it’d be an interesting interaction to see
Agreed
They should do a Rich Vs Middle class just so the rich people can see that even 60-80k a year isn’t even enough in todays economy
And also that middle and low incomes cannot use loopholes to avoid taxes. Just working hard does not make you rich and not everybody can be an invester. Who will bring you food, built your house or take care of you in the hospital. Work that is most needed in society isn't nearly paid well enough.
I feel so bad for Hanifah and hope she can move past all the trauma
She's so amazing and an author you should get her book!
@@DavidNunezPNW What's the name of her book? I tried to look for it but couldn't find it.
she essentially labeled Islam as a cult, not to disregard her trauma, she may have come from a place where a cult was disguised as Islam, however when you have a platform you also have the responsibility to not spread blatant lies/ be clear about exactly what you are saying- because if I were someone who did not have any knloadge about Islam I would very well assume that it was a clut
@@wutare6643 exactly my thoughts, just judging by her accent I think she literally grew up in America. So I doubt her story of running away from wherever in Africa and coming to America alone. She probably wasn't. Something just doesn't add up.
@@Dub.wub121 People can copy accents
I don’t think these people understand how hard it is to get recognized for your talent. There are millions and millions of singers, artists, dancers, filmmakers, etc., out there who have yet to be discovered. And it’s often because they don’t have that built in wealth other celebrities have- I’ve been writing music almost my entire life, and I’ve been recognized for my talents yet still have no opportunities to sell my work because I can’t afford to produce it. There are so many factors that play into income.
You right. And sometimes it's simply because the artists music just sucks and the markets are glossing over them.
Damn it must suck seeing the Island Boys making millions while you with talent have yet to be recognized
Exactly. I just watched a video titled “why all your favorite celebrities have rich parents” and it talked about how Hollywood doesn’t even care to find actual talent these days. They just cast people who are born out of nepotism.
There is lots of talented people and it's a risk to spend your money to make it in the music industry but if it does work out you can become very wealthy. It's just like how people invest in other things.
that's because talent is not the only thing that gets you to the top. The things you listed are the extreme exception. Most millionaires dont become millionaires that way.
I absolutely believe the system is rigged against the poor, even though my partner and I make about $400,000 a year. I’d like to know how they’re defining “rich,” though. One of the “rich” people makes $130,000 a year while another makes $10 million. Those are very, *very* different situations.
@Dan Wruck In my opinion, 135k is rich and above. I'd say she was rounding down, but she'd be close to that figure, I'd say she JUST qualifies lol.
@Dan Wruck it is thi
@Dan Wruck definitely depends on where you live, West Coast or north East in my opinion that's not near rich at all. Where as in the Midwest or some southern states that's beyond plenty my mother made $40,000 at the most a year along with debt and we always had everything we needed I really just comes done to your lifestyle imo
@Dan Wruck It definitely is rich. It's well off. Obviously it's not millions, but it's more than enough.
Edit: and the definition of poverty varies country to country, and varies even between cities in most countries.
In California, it's middle class.
The addiction girl said “I don’t have a laptop and camera to start my RUclips channel” cause your literally spending your money on weed vapes and etc instead of using it to buy what will make u more money this is ridiculous and you not supposed to want to survive of minimum wage people need to lower there lifestyle instead of buying what they can’t afford that’s victim mindset
"More money, different problems" was a great line to end this with
It's more money, more problems..
But I wouldn’t necessarily say more problems, I think different is accurate. Problems due to being poor go away but then you’ve got some new problems related to being wealthy. It’s weird. Money does not buy happiness, solves money problems, but then new doors to new problems open.
maybe more problems, but not as bad problems.@@trel4504
At least they don't have to live paycheck to paycheck and not know when their next meal is.
It all varies on the lifestyle selected and how you're making more money. If your aspiration involves freedom and security and centering life around that, i believe you will have fewer issues. @Worminthedirt
I feel like the tension in this episode derived mostly from the rich defending their wealth while the poor were exposing a system that keeps the poor, poor. The rich people felt they had to justify their success by basically saying anyone can do it too but disregarded or didnt mention privilege, luck, or advantages they may have had because then it would’ve proven the poor peoples argument true
They are poor cuz they don’t invest in skills that pay them enough. Aka their choice
Three of the 4 "poor" people are poor mainly by choice. The Disney guy actually admitted it because he said he never wants to be rich while "knowing the rules of the game" (doubtful) and citing Marxist economy theory incorrectly. The only truly poor person who I felt bad for was the Islamic woman. However, she seemed intelligent enough to be able to hold a job and get herself out of that mindset, too.
They talked about the privilege they have being able to exploit the tax system because of the knowledge that they got and they talked about taking risks there for luck on investments and properties
@@cpetrizzi why to completely miss represent my position lol
I think it’s because of their idea that “i was born into poverty and THIS is how I got out.” And i totally get that because I’m currently in that position. The rich acknowledged that the system is flawed but they used that to their advantage to get where they were. The poor (in this case) were fighting to prove that the system is flawed, but also aren’t willing to use that to their advantage the way the poor did.
10:05 ‘why is it wrong it’s the law’
that was one of the most jaw dropping statements i’ve heard in a middle ground video. at her big age as well. people don’t realise the law is not some godly otherworldly set of rules. leaders are not otherworldly beings, they’re just normal people and some normal people make rules that benefit themselves. not saying leaders are doing this though some are, but it’s totally possible. the law is made by humans for humans, it only makes sense that it’s not always right.
worst thing too is they were talking about *loopholes* in the tax code that lets them pay less than their fair share at their income bracket, it's literally skirting the law to pay less than the already disgustingly low amount of taxes people who are well off/filthy rich like the $10MM guy are legally supposed to in the US and other countries.
So.....why is that specific law "wrong"?
@@darkwolf-intp-a5860 Why should there be a tax loophole for the incredibly wealthy?
@@Jana-fs2qf why shouldn't there be a tax loophole for the incredibly wealthy? Rich people are usually rich because they have made a product/service that has greatly benefited the population, the loopholes allow them to keep enough money to run their business properly, and keep some money that they've rightly earned.
LOL it’s like slavery was once a law in the south. So by that logic she would be pro slavery cause it was the law right? Basically, she put legality over morality.
This was excellent. One of the best I've seen Jubilee present, but I think it would've been more interesting to have a better wrap up. The ending seems so abrupt. Perhaps due to time restriction.
Bill talked about investing and how people can take risks proving how the economy isn’t rigged but how is someone living paycheck to paycheck going to invest in something?
Right, like how is it fair to say, if you want to be rich and “beat” the system that is built to hold you back you have to risk losing all your money, like people would rather have some food on the table each night than risk having none, it easy to say when you have millions in disposable income
But at the same time he can say that now cause at one point in his life he had risked everything to make his millions the choice is yours but you can't when you have to work for him and he takes money cause he took the most risk.I come from a third world country and the wealth swings are even greater yes people living paycheck to paycheck can't save but what they can do is educate their kids which can bring the entire family out of poverty doesn't mean you live paycheck you can't invest, invest in your kids or yourself
@JO JO Yes there is always a way. It's just when you compare yourself to others who are in a better state than you are at the moment can discourage you and make you view your disadvantages more than your advantages.
@JO JO As someone who used to live paycheck to paycheck... you can't assume anyone will even have a single dollar to "put aside" every week for a year. Or even every other week, or even once a month. Sure, a lot of people will, but those below the poverty line can only get out of poverty with luck. Luck is the only thing that got me out of poverty. This is the first year of my entire life that I am financially stable enough to enjoy Christmas.
There is not always a way in a system designed to fail the ultra-poor.
Newsflash all I takes is to invest $400 monthly at 8% growth in stock market for 40 years to retire a millionaire.
I just wish the rich people understood that "being willing to do a job" isn't because we WANT to do it, it's because there's literally no other options and the people in control of how much we get paid know it, so they choose to not pay us more.
If there are no options shouldn't they be grateful for the only option available even if it's not ideal?
@@ThaKodiakkiller no. We don't champion being grateful for scraps. We champion demanding a better system.
@@ChocPrynce exactly!!!
No one wants to work, not even rich people.
@@Iksvomid not true at all. Having seen many interviews and talks for wealthy people, they love to work. Most could easily retire early and just go chill at a beach, they don't. They like creating value at work.
"being poor is a choice" sounds like something that bank robbers would say in their prep talk
Or the wealthy elite, who cheat the system to put their children in the best colleges. Not for the sake of their education. But just so their kids can party in college.
😂😂
😂😂😂 it’s the stupidest thing I’ve heard
🤣🤣🤣
@@the_gratefulgamer people wanting student loans forgiven are morally no different than elites wanting government bailouts
„Money does not matter to me“ out of the mouth of a millionaire is the funniest thing I heard today 😅
Rich people who were once poor seem to often have incredibly blinding survivorship bias.
That’s an interesting term, I didn’t know how to put it in words but that’s exactly what it is: survivorship bias.
@@jhxcczs Yup. Effectively because they succeeded they think it's the same for everyone else, when they fail to realize how many people have put in the same effort and work that they have yet haven't succeeded.
@@mofire5674 theres a small chapter on this term in the book:The Art of Thinking Clearly-Rolf Dobelli
@@mofire5674 effort doesn’t mean the success is going to equal. Someone who is born with better talents at singing might not put so much effort into it like an average Joe to succeed
i agree.....doesnt mean that if you made it, that others should be at your level with the same effort. the circumstances are always different.
Many people can "play the game", but what if we dont want to? What if we just want to do things like teach, help others, go to work, and expect enough to live? I dont want to "hustle", i want to do academia, but i also need to be able to feed myself..
fr. hustle culture is toxic
@@lilttiger yeah like if we all hustle whos gonna teach? Whos gonna take care of the ill? Whos gonna cook for people??
@@rebekalanska2119 This is gonna anger alot of online brothers who dont touch grass but...the patriarchy (men of importance in society) have already convinced women to be cooks, janitors, and child carers for free.
@@DieNibelungenliad yup the level on unpaid domestic labour women go through ON TOP of hustle culture is outrageous
Hustle culture will find a solution to decrease those problems. We solve problems to society
It should have been rich people versus Economy experts because i feel the "poor people" felt intimidated to argue beyond a certain point. And also they probably lacked the vocabulary to verbalize many things they should have.
^^^ definitely need a redo with the same rich people
This would be amazing
Economically , rich people had pretty much all valid points , because they argued based on the economics of different situations. So getting economic experts wouldn't change that.
@@firehunters9628 no they didn't. You only think that because you haven't listened to a real economist who understands theory and doesn't regurgitate arguments from privilege
YES!!
Someone’s addiction is a choice, no one is making you gamble, smoke, or whatever. If you chose to gamble your money away knowing you got obligations then thats a personal issue. Stop with the excuses (and im not rich)
Jinny was extremely out of touch. She tried to say that all jobs are better than no jobs?! So, all the ppl who are being exploited for 50cents/hour manual labor or kids/teens working in slavery-like conditions to feed their families in 3rd world countries is better?! Then her spoiled self maxed out her credit card one time so she couldn’t afford groceries ONCE (you know damn well her parents sent her money quickly after & she still ate that day.) and that was her version of not knowing when her next meal would be?! It’s infuriating to me when clearly privileged ppl claim that their upbringing had nothing to do with their access to opportunities and success. It’s frustrating to see ppl act like everyone has the same chances of becoming rich. That’s not how it works, there will always be a hierarchy when it comes to money. That’s unfortunately the way it is. There needs to be a bottom for their to be a top of the pyramid. Billionaires cannot exist without exploiting others on their way to the top.
I couldn't have said it better. These are the type of people to look up to Elon Musk and not care he's guilty of child labor in the Congo.
Preach! Like it doesn't matter if to some 3rd world country child thinks that working for $1 an hour is better than no job at all - this is STILL explotation and not ok. You should pay that child the correct wages, even if they are easy to exploit.
@@cancelconservatism7041 guilty of child labor? 😂 funny how you say this. Anyways can you show proof?
"Well at least i feed my slaves, if i didnt have them they would starve"
The thing is, these people have to convince you to work hard for people like them for the least amount of money as possible while also trying to avoid giving any of their money away in taxes that would help out those in far worse situations than she's ever seen.
She wants to stay rich and pretend she cares for those dirty poors who should just work harder. What a tool to the establishment, and also just a tool.
this episode really just exemplifies that there is no class solidarity under capitalism, regardless of shared identities, cultures, experiences… economic class is such a compelling force that overrides all forms of identity politics
Absolutely, class is the biggest dividers amount us and this video is clear of how ignorant the rich are
Yes queen
yup. notice how in most videos they hug at the end but here they didnt
Among us
Uh no. Race and culture is the biggest divider.
As someone who has struggled with addiction (however not gambling addiction), I don't think Mia is being entirely truthful with herself when she says she wouldn't gamble if she had stable or passive income.
Addiction is a feedback loop that will continue until you figure out the root cause and address it.
Not trying to say that having more expendable income wouldn't make finding helpful resources easier or minimize her struggles, but more money tends to make addiction easier to sustain rather than easier to fix if you aren't addressing root causes
Exactly I was thinking if she got more money she’d just spend more money on gambling and whatever else
Exactly! Addiction isn’t about the actually substance you’re addicted to. It’s a sickness that has a root
I agree 100%. I have a family member who won $75,000 and gambled away the entirety of it. Minus a car.
Agreed, and I think that's exactly what the real estate guy was alluding to without actually "saying it" explicitly.
She's definitely gotta get some help for that addiction. It's the same reason that a vast majority of lotto winners end up broke again just a few years later.
I agree. She may initially invest in some of the things she wants. Get the top of the line laptop, cameras, editing software, lighting, etc but to think that she will suddenly break the addictions she has because she now has money is not realistic.
There is a lot of entitlement here, laziness and victim mentality. I'm not rich because I'm not driven not because of any system. Take accountability.
oh yes, im sure that you aren't rich only due to not being driven
True, but as someone who thinks logically. Circumstances do play a role. Imagine you have to take care of your family at a young age when everyone else go to school. There are people out there who doesn't choose to stay poor.
To say that someone's life is a lie because you didn't live through it yourself is kind of retarded😂
I'm not saying that circumstances don't play a role, majority of people are not rich, their is an element of luck when it comes to wealth, circumstances, place of birth etc etc. My point isnt that these things don't exist or doesn't play a role, it's more that I will not blame a system for my lack of wealth unless that system is oppressive and removing my ability to enhance my circumstances. I don't believe this is the case in America and in most of the western world.
Mia, was very brave to share about her addiction. She didn’t have to, but it’s a reality that is very difficult to understand if you’re not in it.
Its a reality that if she had a higher income, she would gamble more money. She will still be an addict even if she had a higher income. She needs to resolve her gambling problem before complaining about her smaller paycheck, because she will still gamble it all away if she made $50hr.
This might be true, addiction is a heavy issue that people deal with. What I’m seeing here is someone who is aware and is no longer ashamed of the fact that this is a huge struggle. She might even be ready for treatment, and ready to process the reasons behind it all - but it’s expensive to hire a proper counsellor - more money would make it easier for her to get the help she seems ready to get if she had the means.
We also don’t know how much she gables, it could simply be scratch tickets because that’s what she can afford, or poker in the casino app… addictions are primarily coping mechanisms
@@MfckingDye that's not the reality, that's your assumption. You don't know how much she gambles, how she gambles, how often, etc...
She could gamble it away or she could use the money to afford the very expensive effective therapies for gambling addicts. Because if you can deal with the core reason for addictions (i.e. coping) then you can overcome the addiction. But that takes money. And a lot of it.
@@MfckingDye true people who are addicted to a certain thing will only do more if they have more. They love making random excuses. What they need is to see a therapy about their addiction then the path in front of them would be more clear.
Absolutely she kept it 💯
We've had; lgbt vs Christians, Liberals vs conservatives, atheists vs religious discussions.. never would I have thought rich vs poor would be the most tense🤣🤣
There are some who speculate that among different social issues, whether that is LGBT/Queer issues, political issues, religious issues, economic issues and the problem of poverty often tend to be the most impactful on people's lives and bring out the most controversy. I guess they were right (at least in this particular instance).
Economic class divides us more than anything else.
I would. Because “Greed is the root of all evil.”
The world is run by money. People care about money above all else, unfortunately.
Exactly my thought. 😭
Hustle culture has produced a lot of these views, that poor people just don’t work hard enough. So many rich people think they got rich from skill (which in behavioural finance is called excess extrapolation and overconfidence bias) I would suggest everyone to read Malcolm Gladwells book Outliers and also Daniels kahneman thinking fast and slow, it explains luck and the success paradox in detail 🤙🏻
the fact that poor people do not work hard or produce enough value to society is a large part of their problem
I'm going through graduate school currently taking behavioral economics, the idea of extrapolation and overconfidence bias is fascinating. Do you have any journal articles that you'd recommend as an entry level point to understand these concepts more clearly? I'm already assigned Thinking Fast and Slow for class readings, but I will check out Outliers by Malcolm Gladwells as well.
Fun fact: Gary Vee the guy who promotes hustle culture had rich parents.
I am a recruiter and would say “poor people” work a lot harder than “richer people” and typically are of the same intelligence for the most part. The difference comes down to choices and circumstances.
People with a better career typically made a decision really early on, on what they wanted, and then went for it. Their choices have a monetary compartment and it fit rates their decision making.
Poor people are often a victim of circumstance; either they did not have the support system which allow them to believe they could achieve what others could (although could easily do so), or they did not have the financial means to do so, although in North America, there are ways to bypass this.
There is an element of drive and innate talent though. And there is also the crush of poverty and the condition of coming from poverty as opposed to growing up rich. I went to university but I didn't have the connections coming out that other people did. I didn't have the class either, though you do learn class in university! You can level up.
23:47 David hits it again with his response to this. To others it might just sound bitter or flippant but my goodness, its on point. There are billionaires who truly want and do give back but I doubt any of them worry about social pressures to be socially responsible - their actions say none of that.
I'm currently homeless, living in a motel. I'm in a wheelchair and I'm a DV survivor. I'm on social security. If I COULD work harder, I would. I just want to be able to focus on living, rather than the basics of surviving. Being poor is exhausting.
i’m sorry to hear that but u could always start a youtube channel, start a drop-shipping business, resell, possibilities are endless but u have to be willing to take that risk.
You’ve let your wheelchair define you.
don't you get disability checks...?
@@johndrennan518 😐
@@Elizabeth-yc4zb disability checks are often extremely low paying.
There's also an incredible amount of ableism in our society for example, half of the people living on the streets are suffering with severe mental illness. I'm glad that we're having a conversation about this.
Ain’t no way homie mentioned ableism 💀
@@Q_gaming1 ur name is William no one cares
@@mash7433 ?
It’s true. But if you’re able, you shouldn’t be complaining and start getting to work. Also helping those people with mental problems is very important and it’s overlooked.
thought u were gonna say missing an arm or leg, but mental illness? u're just weak then
I hope Hanifah has sold her book and got to see the fruit of her labor and I hope that the struggle she went through & made it out of is the testimony that has ended up pathing a way for success and happiness in her life. I feel for her deeply and I hope she is blessed beyond measures.
10:18 Bill saying that if you "disagree with the law, you can go lobby and change it" is mind-bogglingly ignorant and wrong. How is a person working minimum wage, living paycheck to paycheck, supposed to have the energy, resources, or even time to do that? And EVEN IF through sheer force of will they do, how are they supposed to compete with the well funded lobbies backed by corporations who want to keep those loopholes in place so the rich can exploit them. Blows my mind how someone could be so tone-deaf.
Yes! That was so condescending I paused the video when he said it. Who's going to lobby more effectively, billionaires or the poor? That guy was a joke through the whole video
Most lobbyist have a tonne of money which is why some of these regulations favour the rich. Why do people need to file their taxes? Many other countries don't do this...
@@PeanutBreathing y’all file taxes??? Wtf
@@blaze9213 I don't live in the US, so not anymore 😂😅
Goddamn that was bad
"You think because it's the law, it's okay"? WELL SAID MY GUY. I feel like some of the rich people in this video kept ganging up on him, but he made some valid points that they just completely disregarded.
it's not illegal but that does not mean it's ethical
Yep. They were pretty unfair to him. But he was right.
Exactly, he was my favourite in this episode.
The rich group does not know the phrase "spirit of the law" at all. Sure, you can get out of paying your taxes if you jump through a bunch of loopholes, but why would there be taxes on the book in the first place if they never planned for you to pay for them?
@@claudiax233 it's a parallel to Marxism in general how wealth creators see the lower class
Bill kept talking about people who "create value" and then went on to dismissively talk about his mother who was a schoolteacher. If a person who dedicates their entire life to educating the future generations isn't creating "value", then I don't know who is.
For school teachers its goverment who decides the teachers value. For companies it is the owner. There is difference.
Bill sounded like a total tool.
Teachers are deeply underpaid no matter how much adults say education is important.
It depends how many people you create value for. If you teach or work at a restaurant or in a factory, you create value for those few people that you impact with your work. If you develop a software or start a company that produces products than millions of people buy, you are creating value for millions of people. Rich people (at least those who are selfmade and honest) are rich because they made more valuable transactions with other people. If I sell you something and our benefit from that trade (in monetary value) is 1 dollar for each of us, and I do this with million people, then I have a million, but it does not mean I took it from people, it is the opposite, million people have a dollar thanks to trading with me.
@@ondrejcerny3928 By that logic, how much value then, did the people who educated people like Jeff Bezos, Bill Gates, or Steve Jobs create? Those men didn't learn the things they know out of thin air. They became successful because they learned from others and went on to apply that knowledge.
"If I had never [taken] that single calligraphy course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts." - Steve Jobs
This has to be one of the least heated middle ground videos. It’s refreshing.
"How much do you pay your employees?" "More than enough." I think it would be interesting for the rich people to live off of what they pay their employees...if it is minimum wage, but not a living wage, then that doesn't cut it
@@zaki7108 they don’t want to hear it lmao
I bet she’s a horrible boss and doesn’t pay them well at all. She couldn’t last for a week on their salaries
@@zaki7108 but “living below their means” is still living significantly better than 75% of the rest of us.
You sound like they were born making that money and they haven't had jobs? All of them up there worked a minimum wage job at some point.
@@ling636 bro the level of entitlment in this comment section is crazy
The record label guy that makes 10 million a year threw a tantrum at a guy for saying record labels "exploit" artists and workers (which they do especially sound engineers), yet he agrees that 15 dollars an hour is more than enough for minimum wage, WOW.
Wow, you are so right!!
So many contestants from X factor and AGT have been exploited by record labels.
hes a fool
It is enough if u aren’t gunna be buying iPhone each year if u aren’t gunna buy the newest car it is enough I do think u need a little more but my mom gets paid 24 dollars a hour and we are more than enough
@@pimp-simp5414 you probably live in a suburban area where the rent isn't %75 of your paycheck. Most minimum wage workers don't have cars, and live paycheck to paycheck. (I don't even live in the US, the cheapest car here is around $17,000 beacuse of customs)
David was totally right about the exploitative record labels, its disappointing they jumped on his point. So many of the big artists we know now have made their disputes with record labels public, it’s shocking people would argue against that.
If there is one industry that I know is predatory it's definitely the music industry lol I couldn't believe what they were saying
Its one of the most predatory industries. I couldn't believe what I was hearing. Especially back in the day. Chart toping artist would still be living in poverty. And Jay Z didn't become a billionaire just because of his singing, it's mostly because of his other businesses and investments.
I was shocked that the “rich” guy defended record label exploitation pinning it on the label’s CHOICE to accumulate lots of artists that may never be successful. How is that the artist’s fault? Record labels notoriously are ridiculous with the way the use their resources and they make the artists pay for their recklessness
Record companies are in an unequal power relationship with artists. The 'risk' in their investment (which major companies can easily handle) is by no means comparable to the exploitation of artists.
That bill is so unlikable.
This was a great episode, would love to see another with this topic
i understand the thought concept of “minimum wage is just a start, get promoted” however those minimum wage jobs have to exist, someone has to work at the grocery store, mcdonalds, etc these jobs EXIST for a reason and we appreciate these people for the jobs that they do so why not pay them a livable wage??? we couldnt live without minimum wage workers at this point in our society so why do we not care if they can live.
I agree. If min wage is just the start, then it wouldn't be legal to keep paying someone that amount after they've been with the company for long enough. We always need people to work these jobs, why shouldn't we always pay them a fair wage? There's plenty of people I know personally near retirement working min wage jobs.
I really don't like the guy that argues for the "I'm taking a risk!!" thing. Sure some people are taking a risk, but some of these huge companies are not taking a risk (McD's ain't going out of business any time soon, let's be real here). And he's making literal millions, then whining like as if he's barely breaking even!
agree. if there is a demand for labor then the person who has to fill that role should be able to survive. what does “minimum wage” mean when it’s not even close to the minimum amount of money that is required to live.
You need to understand logistics of these jobs, If at a mid country McDonalds 3 customers are visiting per hr and there's 2 workers and 1 manager , After paying rents , raw materials , electricity , franchise fee is the business making enough money per hr to justify playing more ?
Also some restaurants are more popular and have lines of customers waiting to get in and another line at drive-thru . In such places workers make double the minimum wage or more but then you're expected to be working faster and have more qualifications as chef, etc
@@rx58000 you’re still ignoring the fact that the ceo’s of these companies have more money than anyone would ever need. Billionaires should not exist, if eliminated their grotesque salaries there WOULD BE money for a livable wage for the actual workers.
@@lesleyelizabeth158
What you say is true no one needs billions of $$ but the companies are *valued* at billions meaning if tomorrow CEO want's to sell the company it will be roughly sold at it's valuation but until then it's like your house just got valued at 20 million dollars by some analyst, fine but you don't get 20 millions dollars until you sell your house and then you are taxed on your gains.
Tech companies can have insane valuations as their products are digital so their estimated value is very high as they physically don't have to manufacture anything , they make money per customer serving ads . Calculating valuations with currency should be redundant for internet leveraged companies.
But where i agree with you completely is for oil, gas and mining companies where CEO is doing literally nothing
Hanifah is absolutely right. Everyone is a unique individual and handles trauma differently. I have been through years of traumatic events and have developed somewhat of a victim mindset as well as complex PTSD. Going through trauma and having PTSD is scientifically proven to change your brain. The environment we grow up in has a huge role in who we end up becoming in our adult years. There are real issues for people who go through childhood trauma that impacts how successful some can be. Not everyone can take their pain and make themselves turn into a powerful rich person. I do think that therapy helps and I am a believer in it but PTSD really is a terrible illness.
Thanks for all the likes! Never gotten this many before. Happy to see so many of you agree with this truth.. Spreading awareness about mental health is so important and I am so happy topics about it are being talked about more than ever now! ❤️
She also made such great points about the systemic issues that POC communities face, the other two who were talking about how much money people spend on shoes or the amount of hours studied per week are completely not seeing the bigger picture or depths of systemic oppression
I have PTSD too and can say with FULL CONFIDENCE that therapy DOESN'T WORK AT ALL! 🙅🏽♀️
I'd NEVER recommend it!
I KNOW! I tried it for 12 YEARS and it did NOTHING but TRAUMATIZED me MORE!
I agree that trauma plays a big role in how someone turns out, what they'll do, what they'll be and what may or may not happen to them.
Exactly!!!! If my parents are alcoholic there’s a chance I will be sober my whole life, but what’s more likely is that I will be an alcoholic. I cannot belive people can’t grasp that concept
@NicholasAttanasio well said
I was a server for a few years and averaged about $30k a year. I felt rich. I live in a pretty cheap area in Missouri. I finally had some savings, I bought a new car, I was planning to buy a house. And then covid happened and I lost my job, but that's a different story. It's amazing how much your money can stretch depending on where you live. $30k in a bigger city would have me scraping pennies to get by, while $30k here is pretty comfortable.
I think your perspective is a great reason for why minimum wage should be tied to the standard of living and adjusted annually for inflation. In some respects it makes sense why a business owner in Iowa where property values and other sectors of the economy are relatively affordable would oppose a 15 dollar minimum wage, whilst someone living in New York may even claim that 15 dollars isn't enough. The bottom line is that everyone should be guaranteed a salary that at least meets the standard of living.
perspective
Same with Mississippi. When that woman said she’s poor and earns $45k a year I was shocked. Where I live that is a decent amount to make, and is considered middle class.
Hope you are happier and doing better now
@@nathansharma1667 I agree, I think minimum wage should be determined state by state as each state has their own different cost of living and like you said adjusted if needed.
It’s so obvious how the law shelters rich people from real effort, and you can observe it in the way they conflate legality and goodness.
And like... The risk of investment only applies to the poor trying to get out of poverty. We see banks crashing economy in US, starting worldwide crisis' even and did they suffer any consequences of their risks like some poor loose all they have? No, banks are sheltered. So thats also it. And the rich often do have employees that think for them and invest
@@mmgs1148there’s a significant difference between rich and elite. Half of the panel on the show is considered rich but none of them are involved in banks or monetary policy creation. The “poor” people on the panel have the exact same opportunities available to them as these “rich” people. The poor people said it themselves that they are actively choosing to hold onto their vices and blame society for their shortcomings.
The lady who broke down crying had me crying. I'm glad the guy reached out to help her.
Bill’s point about minimum wage is exactly what David was saying - just because someone is willing to do a job for $7 an hour doesn’t mean they shouldn’t be paid minimum wage, you can’t exploit someone’s desperation for money to your own benefit, and then convince yourself they’re “willing”. No sir, they’re oppressed and desperate.
What he is saying is some jobs are not worth paying 15 dollars an hour.
He wasn't saying the exact, same thing. Bill's point was that not all labor is worth 15$ per hour. And if the minimum wage is set at such a high wage, then you eliminate all of the potential opportunities for the labor force that are worth less. It becomes no longer possible to take a job that is worth less than that new minimum wage. Nor is it possible to offer one at that lower rate. Which means that the job likely disappears or gets absorbed into another position. Which still eliminates the total number of jobs available.
@@yvettecamas5332 Why not? The living wage is more than that in a lot of places. What creates 'worth' when there are many jobs under that that destroy your physical and mental well-being.
@@wombat4583 every jobs has physical and mental stress connected to it, and I think logically its divided up pretty decent. A doctor has a lot more mental stress than someone who sells cars, hence a higher pay.
Perfectly stated!!!🔥🔥🔥
Example of the wealthy staying wealthy, and the poor staying poor : COLLEGE. In general, attending college is a privilege. But in college, the rich kids whose parents pay part of their housing / tuition have more time to study, can take the unpaid internships and gain the majority of experience, don’t have to work, etc.
thank you for bringing this up! i didn’t even think about this connection!!
@Kevin Cobb You realize student debt is the best kind of debt to have? Interest rates are insanely low, and if you're graduating from an ivy league, you best believe they're really intelligent to get a decent job.
If I could take a student loan out just cause, I would. Because I know I could easily make more than enough money to pay the interest and then some.
Why is this limited to just college bro? How do you think we even enter colleges-it starts from the moment we are born.
Exactly, even some middle-class kids having that privilege allows them to climb up to the next class. I couldn’t eat lunch for many years and had to put myself entirely through college while helping my household. It’s extremely difficult and hard to see the other side if you have never had any assistance.
I’m taking out student loans. My parents haven’t paid for my college st all
Honestly these kind of middle ground videos are really informative and entertertaining at the same time so its a win-win
The rich people were dominating the conversation with voice, body language, and aggressiveness. I didn’t feel like there was a real exchange of ideas happening. This one really hurt to watch because the poor people were being dismissed and overpowered, and not by solid arguments or facts, just by personality.
Imagine how they treat their employees, they must be awful to work for.
No they were not, especially the one Poor guy David, he was very aggressive and over powering some of the rich people.
@@awrebyawe Ah yes getting paid $50 an hour must really suck
@@waitwhat7354 nice to know what your self-respect is worth
@@klaiellordez2054 hes angry, rightfully.
Here’s the thing. How do rich people say they come from nothing, but then completely lack empathy or understanding of how poor people feel? All the stories from rich people like saying “my mom cried every night”, so why aren’t you standing up for other poor people? Why aren’t you doing your best to make sure that doesn’t happen to someone else? Exploiting the system, like using certain tax loopholes, mainly hurt the people at the bottom.
It seems like you have to bash poor people to gain respect in rich circles. If you’re rich and want to be accepted by your peers you say that poor people don’t work hard, even if you k ow from your own family that that is not the case.
Most people who have a desire to accumulate wealth often have a conservative, individualistic worldview. Their whole mindset is about self interest whether they are aware of it or not. They're always going to make that argument because that is how they perceive their circumstances as well as others regardless if they were born into wealth or not. That's why it always feels like conversations like these are missing each other because they have different perspectives; one side believes in more liberalistic views of spreading wealth amongst all while the other believes in accumulating for the self which is the traditional conservative mindset, the dog eat dogs of the world.
EDIT: there are also those who are "self made" who change their worldview because they see the world differently after they see what happens when they change tax brackets & an innate fear of "losing it all" and going back into proverty or living below their newly accustomed to means that they so worked hard for.
@@KamariaHolden it’s not just rich people, it’s all people. I worked in fast food, and I guarantee if they could save my life or anyone else’s in a robbery, most of them wouldn’t.
Rich peoples taxes account for most taxes. 1% accounts for over 40% of all income tax…
@@good-tn9sr the ones who should be paying taxes this is true lol there is an interesting nuanced discussion to be had about wealthy people tax (around 500k-10 million annually) to ultra wealthy taxes (around 10 mil and beyond annually) and who pays what and how much it takes away from their annual income.
"i wanna be rich. i wanna take big risks and get big rewards and u should respect that" he said in front of the woman who just said she lives pay check to pay check. im sure she wants to be rich and take big risks too the problem is there is nothing for her to risk. she doesnt just have money laying around she wouldnt mind losing. the privilege and arrogance these ppl have defending a disgusting system even saying its a choice to be poor like???
Exactly!
It’s definitely a choice to have a poor mindset.
exactly!!! time itself is also a privilege - one of the people on the rich side mentioned people can just watch videos to learn how to play the game and become rich but it’s not always so simple. if you’re working multiple jobs or are in school during the day but work at night, where do you find the time to sit down and learn all these convoluted rules when you still need to make sure you’re using every hour of the day to stay afloat? this whole episode just frustrates me to no end.
@@MauricioCelis thats not a mindset dummy, its called having no money to invest or task risks with. "poor mindset" is a made up talking point. nobody wants to be poor buddy.
Hes correct. She has addictions which are a great disadvantage to whoever employer would give her a chance and she clearly is in no control of herself. The truth is that she is just not destined for it. Unless she drags herself out of that hole shell never get better
the woman in the blue sweater was AMAZING. extremely well spoken
This was very difficult/uncomfortable/triggering to watch. I think it is worthwhile for people to really sit with some sociological, political and even occupational science teaching to better understand the nuanced role of poverty, social capital and systems on choice and range of opportunities.
Your face is a trigger
I had to stop seven minutes in and come down to the comments to try to find some alternative views
Yes its a VERY complicated topic, its like telling the government what to do with money but also not understanding they affect MILLIONS of people lives everyday.
completely agree
I definitely wanted to stop watching at multiple points in this video and that doesn't happen often with Jubilee's Middle Ground.
I feel terrible for Mia's situation. As someone who has watched their mom struggle with various forms of addiction for a long time, gambling addiction is brutal and will completely cripple you, regardless of your income level. I watched my mom struggle with this when she wasn't making a lot of money, and then she went into debt and got into trouble with the IRS, and then when her job started making a lot of money, it just meant that she could continue to chase that high of getting an even bigger win, and it gave her less money to contribute to paying off her current debt/saving for the future. I sincerely hope that she is able to find the help that she needs, although like people said it's very hard to treat addiction when you have no money.
I completely relate. Gambling addiction is real and breaks a family. Sending you lots of love.
I agree
She is careless and delusional. She thinks if she gains more money her addiction will disappear. It does not work like that. When I got more money I bought more drugs. You have to kick the habit or the habit will kick you. It is a choice and it is also not a choice.
@@bethanym8318 Thank you. My mom hasn't spun a slot machine for a few years now and has been slowly recovering. Hopefully it stays that way!
These rich people tell poor people to take more risks, throw their money into risky endeavors to get a big payout. Then insult and judge those same people for playing lottery or gambling.
I love this show, I do. Watch it without fail. I was really disappointed in this one. I feel like they should have vetted the grouping a little more evenly for both sides. $130,000 and a few million are such INSANELY different brackets of rich that this conversation felt really lopsided. On the 'poor' side, some of their incomes were household averages in other states, yet an unlivable wage in California...yet not a single person discussed the cost of living in their discussion. $15 an hour isn't minimum wage: it's $7.25 and apparently no one in the group knew that? How did the price of medical care never come up beyond throwaway comments about therapy when discussing money problems? HOW COULD NO ONE SPEAK UP THAT NO ONE CAN MAKE INVESTMENTS WITHOUT EXTRA CAPITOL.
There's always arguments I wish that were made in these discussions, but I felt that even the questions guided the participants away from what could have been valid topics.
On the subject of minimum wage being lower that $15 at the federal level--and lower for specific fields like food service--I would have liked if someone acknowledged it.
yea idk why people disregard the $7.25 federal minimum wage. & that many corporations take advantage of that fed min. wage.
DUDE YOU’RE A HUNDRED PERCENT RIGHT. I didn’t even think about some of the points you’re making and it’s crazy to see how lopsided this episode was.
@@potatojamfam7561
You watched the video and didn't see the obvious point.
No wonder you struggle.
Ikr
To be fair, Jay Z didn't become a billionaire off his music. Guy straight up stole his company from his friends and fired them through a merger then started other ventures.
“I don’t care about money” is such a privileged statement.
and if he did care about money ppl would call him greedy lol.
he made enough by himself to not care about it
He has solved his “money problems” therefore he doesn’t care about money.
@@nternetrat not true,everybody cares about money, nobody sees that as being greedy
Didn’t someone from both sides say that? So are they both privileged?
“Poverty is a mindset” but I’m in school and have medical bills, grocery bills, loans, rent and help out my family. Maybe my mindset is trying my best homie
Your in school no disability, that already puts you ahead
@@salmaabdullahgb I completely agree, I do have privilege. But I am also in a position where I cannot pull myself out of being poor, especially because of medical expenses and supporting others/ bills.
@@SamanthaDavis-cm7yk U can go to a community college and transfer to a 4 year school for cheap tuition.
@@SamanthaDavis-cm7yk Minimize on unnecessary purchases, get a second/third job, start a side hustle, stop taking out loans you can't afford. Some of the rich people in the video said they came from a struggling family. Although the circumstances may be different, it's possible to get yourself out. So yes, you do have a poverty mindset.
@@XunMoon Well clearly they wouldn't take out the loans if they could afford their expenses in the 1st place. Taking on multiple jobs can take a very bad toll on you and as this person stated they already have medical issues so why would they risk it. We should be able to work 1 job without having to go from paycheck to paycheck worrying about our spending and if we have enough money to last.
wow, what a non-controversial topic! hope nothing goes wrong!
Lol 😂
😂
Clueless
its better than "astronomers vs astrologists," this at least makes you think.
@@Iturrisoga you.
Being poor is a choice.
Yeah, I chose not getting paid enough.
I chose not being financially able to pursue higher eductation.
I chose not having an inheritance.
I chose getting rejected for a loan application at the banks...
I love how some of the rich people are saying that the economy is a “game”. Its peoples lives we are talking about, that shouldn’t be a game.
The entire animal kingdom disagrees with this comment!! Life has ALWAYS been a game!! It was a game BEFORE humanity even existed!!
@@Islander05 but aren’t we as humans more evolved than animals? I feel like we should at least have compassion.
It's a game in the sense that there are rules that govern causes and effects (rewards or penalties)
You are correct. Anyone who disagrees with you severely lacks empathy.
I can feel and observe the 'game'. And honestly, it depends on you if you would join that 'game'. As for me, I would just wait for maybe about 3 years, if our country would become better before deciding on playing that shitty game. However, ur humanity would really start to deteriorate..
“If I don’t pay taxes, am I a bad guy” …yes. Absolutely. The ONLY reason it’s legal is because the people making those laws are benefiting off of that. You live in a society. You benefit from working roads, government paid officials, clean water, etc. this is how the rich stay rich. The burden is placed on the poor. And that is why they’re poor
Thats not exactly how that works...but ok lol
ok
Those tax codes that he’s talking about is accessible to everyone though. There are more incentives for the more wealthy people because they can provide into what you stated. These roads to success are given to everyone. There’s just sacrifices and hard work that go into it.
So if you take the child tax credit, contribute to your 401k, take deductions from student loans and mortgage interest, does any of that make you a bad guy too?
No not really
I agree with David when he says the rules are disgusting, I wouldn't want to be a billionaire either because it means I'm taking advantage of/stepping on others. I just want enough food, a decent place to live in, a job that doesn't consume all of my time and to be able to take care of mine and my family's health. That's what everyone should have.
EXACTLY!
Being a billionaire is not something that you want or a target, being billionaire is a result of providing values in product that many people want
@@americanidiotinchief259 Being a billionaire is a result of owning a large corporation of underpaid people that generate disproportionate surplus value for you and sometimes also for society. A billionaire has also been protected by their parents and even the government when they've taken risks that didn't pay off, and they love to take advantage of loopholes in the taxing system. Rich parents, luck, and a complete lack of morals. If you have those three, there is nothing stopping you from becoming a billionaire. And yes, you need to want to become a billionaire. Nobody becomes a billionaire if they aren't trying to steal and hoard as much as they can.
@@regileblindsea you cant have a large corporations if you don't create value from the first place, there's no such thing as underpaid people, you're paid according to the value you bring to the company, a lawyer is paid more because he brings more values than a cleaning service.
For every risk that didn't paid off their employees still got paid the same, you seem to think that they should go bankrupt Everytime they take risk that didn't paid off, forgetting that their employees do not take any risk and still get paid off the same.
Loopholes or not the top 1% still pay 40% of all federal income taxes.
Nobody steal from you especially when you have nothing to begin with it's you who try to steal from them
@@americanidiotinchief259 you know simping for the rich and telling them they aren't stealing from you won't make you rich right?
One guy talking about how he takes risks with his money and his parents didn't doesn't say whether they were responsible parents and maybe gambling on risks wasn't something they were going to do raising children. He also said his dad died poor, so it sounds like he really didn't help his parents even though he is successful.
Bill was so focused on "well some people are willing to take risks and invest their savings" now bill, why would other people not be able to take those same risks? Let's use our brains and think about that....
Surprisingly during the shoot Bill was the most reasonable which surprised me because he said he was a hedge fund manager.
Literally
@@DavidNunezPNW yeah I think throughout the video he seemed to really listen and be a little more reasonable. That one little argument just stuck with me
@@DavidNunezPNW Bill was arrogant and condescending. David was the only voice of reason
😂😂😂 He made no sense there. He mentioned they were creating value because they are “willing” to risk their millions of dollars. I’m like bro, that is a CHOICE, it doesn’t mean you create value or jobs for others; it’s also a choice that you’re able to make off the backs of others who are making crumbs in comparison.
Nothing upsets me more than a person who used to be poor and then becomes rich, which causes them to lose perspective about being poor. The lack of empathy is astonishing.
I personally find it quite inspiring
@@sergiodelrioreyes7655 you find it inspiring to lose empathy?
@@writerchick94 he probably finds it inspiring that a poor person lost their victim mentality and worked their way to be something more successful
@@jimbobduggar1747 so he finds it inspiring that they lost their empathy.
@@writerchick94 hell yeah, she lost that loser self-victimization mentality and decided to make something of herself, she felt that only she could help herself and not wait for some generous hand, and worked her ass off to be successful
I think a lot of the rich people are missing the fact that not everything they have came with pure effort. Yeah, your business is thriving and of course you put effort into that, but there are people that made the same or even better choices than you, that are not as successfull just because of luck.
It’s not just about luck it’s also about working smart. Some businesses who have more capital than others don’t get more successful than those who have lesser capital, the difference? Management.
@@xmantrans4846 and luck...that's why I said "same or even better choices"...
if your desicion leads to something bad that means you didn't make right decision. Your decision was maybe theoretically right but in the end practically it was wrong.
There are a lot factors in life that we cant do anything about but there is also a lot things in life that you can influence positively or negatively it depends on decision you make.
if you are poor and you blame things you cant do anything about (for example blaming system or rich people) you will stay poor.
@@milos9758 But every change ever made to "the system" was made by one or more people who had complaints against the pre-existing state of the system.
I get annoyed when people claim that complaining about injustice isn't productive, especially in countries with democratic political systems that rely on collective opinion to affect policy changes. How are you supposed to get others to acknowledge and combat injustice without making your complaints heard?
Anyway...
how are you gonna completely discount their smart choices all down to luck? how do you know there are people who made "smarter" choices who didn't succeed. what is the measure for that? what is the source for that? that claim is backed up by absolutely no evidence
Tod seems like a great, genuine guy. I pray he gets the healing and blessings he deserves
The facts are the only thing that matters. It's a fact that half of the ENTIRE American workforce makes 35k or less. That is not personal failure. In fact, it's completely OBVIOUS that it's systemic. You cannot compare someone that doesn't have the ability to afford food to someone that has all their basic neccesities covered due to the labor of the employees. It's a fact that Americans have had trillions of dollars stolen from them over DECADES. If you are poor, it determines where your life will go. It is damn near predestined unless you get lucky, underpay employees, become a doctor or inherent wealth. You only have 4 options in the land of oppurtunity. Is it POSSIBLE to work your way up some soul sucking corporate ladder?........sure, but it's highly uncommon and it's not because someone is smarter than you. Stop letting the media convince you that you can simply THINK your way into sustainability in excess. At a maximum, you can try. A job won't even do it.
Fantastic comment!
I'd like to add some more stuff
1.) Like you said the income of your parents is a reliable source to determine how much money you will make. A black women growing up poor there is a 91% chance that they will die poor, a similar stat is true across all races and genders (except for one group: A white woman growing up poor only has a 57% chance of growing up poor lol)
2.) Also the most stolen thing in America is not, power tools from Lowes, its not shoplifters. Its like you said, its wage theft. Employeers stealing from employees is the most common form of theft in this country
It’s so awesome seeing how Marxism is getting more popular and people are talking about it
@Caves Amazon
@@nearn8517 Zing!
Hi! I'm genuinely curious, I'm not from the US. But is the cost of living so high in the US that 35.000 a year is considered low? Because if you divide it by 12 it's almost 3000 a month. I do not have the same frame of reference so just trying to understand because I was genuinely surprised when the girl in the video said she 'only' makes 45.000 a year, when in my mind that's a lot!
There needs to be a whole series on this question, with different types of people. It’s such a complex subject. I personally wish there would have more of an anti-capitalist view, a foreign view, the view of someone who has renounced their wealth, etc. I’m sure lots of people watching also had something to say about it that didn’t get said. We need more of this conversation because it permeates almost everything in our life
Asking Jubilee to pin this 😭
I would have especially loved for there to be an immigrant view since citizenship/residency status is very financially limiting. This includes not qualifying for Fafsa aid for college, not being able to apply for many (well-paying) jobs due to no social security number, and facing issues with banking/opening a bank account.
My view was anticapitalist though 🥺
Yeah that’s a great idea I need more of this video lol also maybe a version with healthcare workers I think would be cool to see
@@DavidNunezPNW Yasss you were the most reasonable one there
The rich people in this video seem to have an inability to fully empathize, hear the pain and frustration from the people across from them, and truly acknowledge any systems in place that hold people back while uplifting other people (ie the violence of fully legal systems that allow wealthy people to thrive off of poor people without putting resources back into support systems).
Nearly all of their advice and rebuttals boiled down to “learn the rules and play the game,” “it’s about a level of self control” and “rich people work hard and risk a lot too”
Emotions dont change facts. And the "poor" people here dont have many factual arguments. Especially David.
@@Ntantosthereal pathos tends to be the strongest appeal to humans (which I know that’s a whole philosophical debate and a whole on conversation)
I would also say outside of Mia speaking on the justice system and consequences based on wealth, nobody was referencing straight “facts.” They were all speaking on their personal experiences and personal life philosophies not hard numbers and “truths.”
I also appreciated David’s willingness to stand his ground and the little convo between him and Jinny (I think) allowed him to explain where some of his ideas were coming from!
Exactly
@@Ntantosthereal tbh both sides kinda suck. Poor sides arguments special even though I agree with answers but there's reasoning behind there answers kinda sucked
i mean the last one is very true lots rag on ricg people and act like they dont work hard when actually they work incredibbly hard in alot of cases andidk about them not empathizing they seamed preety understanding to me
All the people representing the poor side still keep on mentioning money is the solution their problems or lack of money is the reason for misery, and yet sitting there defending poverty
wow, when one of them bought up minimum wage workers and the rich people said “yeah but its better compared to no job” ….I nearly cried
He is not wrong!!
@@Islander05 he is
@@Islander05 its also worse than living a normal life where rent and groceries are not something to worry about as a part of your natural human right to..live?! The direction of comparison comes strictly from the level of privilege you have in an unfair world. Next time when you pay for your groceries and the overworked, stressed out about rent cashier doesn't smile at you, dont come complaining about it.
My mouth dropped
If it is not better than not having a job, why did these workers take the job?
I genuinely feel that the rich in this episode are out of touch. Just because some of them were poor at one point of their lives (most of them as children) doesn’t mean that they can relate to being poor as an adult. Having to fend for yourself is completely different than being dependent on someone who is fending for you both. Especially now with the pandemic, inequalities in ACCESS to resources, inadequate healthcare (physical and mental), the opioid epidemic, criminalization of certain groups of people (race base AND socio-economical), etc. Poverty isn’t and will never be a choice. Poverty is a cycle that was created through exploitation of people from those who think that other people’s livelihoods are worth risking to build capital.
Cry about it
If anything I think the people who were once poor and are now rich have blocked out those years and the trauma from it. I think they don’t want to remember what it was like
My best friend growing up was dirt poor. He had crappy grades in school even though he was a genius (mainly so he'd qualify for summer school so he could get out of his house and go downtown during the summer since his mom didn't drive and he was stranded in the middle of nowhere trailer park). Job Cops helped him get a summer job once he was 16 and he started doing better in school because he had a way to get to work and summer school interfered with his work hours. His mom couldn't keep a job because of mental health challenges and substance use and life choices. Because he was poor he got a free ride to college for a degree he has never used, but he was able to work at Verizon and lease a car while living on the college campus. Great salesperson and to the day, he's basically a regional manager at Verizon now and had a million promotions. He bought a house with his SO only 5 years out of college and then recently sold it and moved to RI with his spouse. Even if you're poor initially, if you're smart with opportunities presented to you, you can get out. My friend had no help from his mom growing up and at one point his mom lost her trailer and she lived with them in their house for a couple years while she got back on her feet.
@UC-qm4QheOlmMvIR3LTE-mmg keep liking rich people’s asses. Like they give a damn about you.
@@jeremysmith9694 keep liking rich people’s asses. Like they give a damn about you.
Hanifah is a force to be reckoned with. She has every excuse to be a victim…BUT. SHES. NOT! She has the intellect to recognize the systemic factors against her, but is not in a victim state of mind. She will prosper soon I just know it. Absolutely inspiring, so moving.
She literally cried bro saying im not a victim is just words crying cause you can't feed your fatherless child is actions
@@ikejohnshimbilinga5177 So crying makes her a victim?
having an emotional reaction to a traumatic situation makes her human, not a victim smh
@@ikejohnshimbilinga5177what an insane string of words you put together.
And if she dies on the street in 3 years bc she just couldn’t get past the barriers in place in this country? Then what?
The love of money is evil. Despite the valid arguments presented, one particular aspect stands out: the accumulation of excessive wealth through exploitative means is unnecessarily cruel. The question arises as to why an individual would require a billion dollars. Why as a society are we being influenced by materialistic values that lead us to be consumers.
It’s the way the “rich” people look at the “poor” people. There’s just a lack of empathy that is coming from them and it’s just sad to see.
If the poor are literally telling you you’re a bad guy and didnt deserve your money, yes. You should lack empathy towards them.
@@vanessaalbuquerque4709 How do you make money without exploiting people? It's impossible. You *must* be immoral and evil, exploiting people, to acquire any sort of wealth whatsoever.
And the “poor” people are looking at the “rich” people as if they are evil and exploitative. I think it is important to remember that the “rich” people in this episode all came from poor backgrounds so they have first hand insight into the issues and the challenges that poor people face. The “poor” people in this case do not have the same insight into the lives of the rich
empathy for what?😂 david said he is going to organize a union to be paid more at his job in disneyland. he seems like a decently smart guy so i don’t why he can’t just take some night class at his local community college, get an associates degree and work as like a dental hygienist or sum making 80k a year😂 I have no empathy for people who talk their tail off about how the system is rigged but have no desire to escape poverty
@@vanessaalbuquerque4709 exactly