I may also be describing this wrong.  The rich value money, yes, otherwise they wouldn't have so much in the first place.  But how important is the next dollar to living their lives? I would argue the next dollar for the guy making a million doesn't nearly have as much as in impact as it would for the guy making $25K.  He may VALUE it, but it doesn't have the impact.

I know what you're trying to prove.   Nonetheless, circumstances dictate everything.   Remember when I mentioned multi-million dollar home being foreclosed in CA?  Hell, I'll give you something closer to home.

Remember Lenny Dykstra?    Look up his story.

Posted by MikeT23 on 6/13/2014 12:26:00 PM (view original):

Posted by burnsy483 on 6/13/2014 12:22:00 PM (view original):

Posted by MikeT23 on 6/13/2014 12:18:00 PM (view original):

Posted by burnsy483 on 6/13/2014 12:16:00 PM (view original):

Posted by MikeT23 on 6/13/2014 12:14:00 PM (view original):
No.  Do you think a guy who spends virtually every waking hour trying to make another dollar values money more than a guy who punches a clock at 8 AM/5 PM and then proceeds to drink his paycheck the day before his next check comes in without worrying about finding a better paying job?

Why are you assuming the guy making $25K is drinking his paycheck away and has no desire to get a better job?

We're doing hypotheticals.

He doesn't have to drink.  And he can spend his weekends seeking a better job.    Or, if you prefer, he can spend virtually every waking hour seeking a better job.   But then he's the first guy.

The $25K is struggling to make ends meet.  If you don't like the number, make it lower.  Is there a line where we recognize "this guy needs the money more than someone else?" and should pay a lower amount of taxes to help give him an opportunity to stay on his feet?

And, in case you didn't notice, I didn't assign a dollar figure to either of my guys.    They can both make a million or 25k.    But one is going to value his money more.


No, there is no line.  Circumstances dictate everything.  25k doesn't have to struggle to make ends meet.  I have a friend who makes $14 an hour.   He has a little condo, recently purchased a used car(2011), paid 2k to have his windows/doors replaced and just called me to ask if I was up for a road trip.   I realize that $14 an hour puts him closer to 30k but he is not struggling.

If another $30K showed up in his mailbox tomorrow, would it have more or less of an impact on his life than if it was sent to the average millionaire?

Posted by MikeT23 on 6/13/2014 12:31:00 PM (view original):
I know what you're trying to prove.   Nonetheless, circumstances dictate everything.   Remember when I mentioned multi-million dollar home being foreclosed in CA?  Hell, I'll give you something closer to home.

Remember Lenny Dykstra?    Look up his story.

Again, with the extremes.  The average person who makes $36M over 12 years is more comfortable with his money situation than the guy who made $360K over that time.

Depends on the circumstances for the millionaire.   Is he about to lose his house because he's so in debt?   My friend is in no danger of losing his house.   More impact on the millionaire in that case.  He isn't homeless tomorrow. 

Do you really not understand this?

Posted by MikeT23 on 6/13/2014 12:34:00 PM (view original):
Depends on the circumstances for the millionaire.   Is he about to lose his house because he's so in debt?   My friend is in no danger of losing his house.   More impact on the millionaire in that case.  He isn't homeless tomorrow. 

Do you really not understand this?

Is the average millionaire about to lose his house?

Posted by burnsy483 on 6/13/2014 12:33:00 PM (view original):

Posted by MikeT23 on 6/13/2014 12:31:00 PM (view original):
I know what you're trying to prove.   Nonetheless, circumstances dictate everything.   Remember when I mentioned multi-million dollar home being foreclosed in CA?  Hell, I'll give you something closer to home.

Remember Lenny Dykstra?    Look up his story.

Again, with the extremes.  The average person who makes $36M over 12 years is more comfortable with his money situation than the guy who made $360K over that time.

Look up "housing market crash in 2007".   Plenty of examples of average people making lots of money and losing their homes.     Although, again, I don't think "average" people make millions a year.

Posted by burnsy483 on 6/13/2014 12:36:00 PM (view original):

Posted by MikeT23 on 6/13/2014 12:34:00 PM (view original):
Depends on the circumstances for the millionaire.   Is he about to lose his house because he's so in debt?   My friend is in no danger of losing his house.   More impact on the millionaire in that case.  He isn't homeless tomorrow. 

Do you really not understand this?

Is the average millionaire about to lose his house?

Look up "housing market crash in 2007".   Plenty of examples of average people making lots of money and losing their homes.     Although, again, I don't think "average" people make millions a year.

Circumstances dictate everything. 

Money has no value to a man on his deathbed.    Doesn't matter if he has a little or a lot.   He doesn't care. 

People make choices every day.   Some of them will lead them to value the dollar in their pocket more or less.   They changed their situation. 

Lot of bad choices made here:

http://usatoday30.usatoday.com/sports/story/2012-04-22/Pro-athletes-and-financial-trouble/54465664/1

OK.  Moving forward, when we talk about general ideas, I'll bring up examples of exceptions and go "NO! SEE! THERE'S THIS ONE GUY WHO..." and you tell me how quickly gets old.

"People prefer bicycles to unicycles."

"NO! THE GUY ON HIS DEATHBED DOESNT CARE!"

Posted by burnsy483 on 6/13/2014 12:51:00 PM (view original):
"People prefer bicycles to unicycles."

"NO! THE GUY ON HIS DEATHBED DOESNT CARE!"

"THE GUY WHO'S ALLERGIC TO RUBBER WOULD PREFER 1 WHEEL TO 2 WHEELS!"

We can do it however you want.   Still doesn't change the fact that circumstances dictate everything.    Wanna put a millionaire in his mom's basement?  OK, I don't think he would NEED more money.   But, if he's spending all his time trying to MAKE more money, he values the dollar more than I do.    Do you disagree?