Posted by MikeT23 on 6/13/2014 1:19:00 PM (view original):
Posted by burnsy483 on 6/13/2014 1:09:00 PM (view original):
Posted by MikeT23 on 6/13/2014 1:07:00 PM (view original):
OK, I will. But only if you stop telling us how other people value their money. Because that's dumb.
I know to only speak about specific people and not about a general group of people and basing my ideas on tendencies and probabilities and averages. So I would never tell any specific person how they value their money, because that IS dumb.
But you are willing to tell a specific income bracket that they should be taxed more because they'll miss it less?
You're still missing the point.
It's about how everyone values their money relative to the money they already have. This rule applies to just about anything: money, chocolate bars, shoes, square footage of your house, cars, etc.
Going from 0 to 1 unit is the biggest gain in value/utility/pleasure/whatever. Followed by 1 to 2, 2 to 3, etc. Each step is slightly smaller and, when you go far enough, the curve flattens out.
There is a point where making more money, eating more chocolate bars, having a bigger house, or more shoes, or another car provides zero value to you.
Regarding specific people and things, that curve will look different. For example, tec might get positive utility from 17 pairs of shoes while burnsy only needs four pairs, but both will get to a point where owning more shoes does them no good.
If I made $1 billion this year, it's likely that making another $100,000 won't noticeably change anything.
6/13/2014 1:32 PM (edited)