NET WORTH IN AMERICA

Discussion in 'Economics & Trade' started by LafayetteBis, Sep 2, 2021.

  1. bringiton

    bringiton Well-Known Member

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    Yes, if the market rental value of the location is more than the UIE amount multiplied by the number of citizens residing there. Just as a rough guess, I would estimate that a high single-digit percent of citizens would elect to use no more location value than their UIEs: the unemployable, poor families with young children, etc. At most a small fraction of 1% would choose to use land no one else was willing to pay to use, but no doubt there would be a few aspiring hermits.
    The difference is that the payments for land would be made to the government and community in return for the benefits they provide to the exclusive tenure holder, not to a privileged private parasite in return for nothing. So land users (i.e., everyone) would only have to pay for government once instead of twice.
    No, the difference from the current system is that the proposed system would consist of free people buying and selling through voluntary, market-based, beneficiary-pay, value-for-value transactions in a free market, not the privileged, parasitic owners of other people's rights to liberty buying and selling them in a slave market. And yes, "cool" would be the very faintest praise one could honestly apply to it.
     
  2. pol meister

    pol meister Well-Known Member

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    I think owning one's own home is probably the biggest driver in establishing net worth. At least that's how I established most of mine, along with being a long-term investor in the stock market, albeit a few nasty hiccups along the way.
     
  3. bringiton

    bringiton Well-Known Member

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    Owning land is. If you own land, you are on the escalator. If not, you are on the treadmill that powers the escalator.
     
  4. Mircea

    Mircea Well-Known Member

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    Yes, we know you have a habit of sulking when you lose.

    Your attempts to crow-bar government funded security forces into personally hired henchman fails.

    Emperors did not fund the Praetorian Guard.

    Assuming the population did decline, it was due to a lack of any cohesive structure or organization. The constant conflicts between the various Germanic and Gothic tribes stifled commerce and trade, and it's real hard to tend to your crops and livestock with horse soldiers trying to run you through with a spear.

    So he says, ignoring the culture the Norman French brought to the Celts, Angles and Saxons.

    You can thank the Norman French for you legal system, which is superior to the Napoleonic System and most certainly superior to the legal system of the Imperial Roman Catholic Church, which was weighting people down and tossing them into a river to see if they float. I think that speaks for itself.

    It's not my fault the idiot Gaels were too busy fighting each other to pay attention to new settlers.

    None, since they had been dispossessed of their lands by the British.

    My 4th-great-grandfather was a farmer who owned a boot-making shop in Texas. He was also a noted Shakespearean actor.

    He did not own slaves and was opposed to slavery, so like some others, he fled Texas. Their little wagon train was enroute to Indian Territory and camped one night when they were accosted by bandits. The bandits thought that he and the other men who had Irish or British accents were "Northern Sympathizers" and so the bandits killed all the men.

    On a brighter note, some decent men rode up the next morning and helped the women find the bodies of their dead husbands. And then the men safely escorted them to Indian Territory.
     
  5. crank

    crank Well-Known Member

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    So .. buying and selling, but adding the word 'free'. That added word makes all the difference.
     
  6. crank

    crank Well-Known Member

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    Indeed it is. It's the one sure way for the small man to establish himself. Private Property is one of the greatest egalitarianisms ever conceived, for that reason. It wasn't too long ago that a 'peasant' had no chance of ever owning property. All lands were held by aristocrats and/or govts.
     
    Last edited: Sep 26, 2021
  7. bringiton

    bringiton Well-Known Member

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    It does indeed. It's the difference between buying and selling value you have created and is thus rightfully yours, and buying and selling value created by others just because you happen to own their rights to liberty and are legally entitled to do so.
     
  8. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    BE CAREFUL ABOUT THE CALCULATION OF NET WORTH

    Correct! And indeed it is a key-element in the assessment of Net Worth.

    But given that a great deal of housing is amongst the youngest generation, the value of the house they own (that is, what they paid for it) is not assessed in the calculation of Individual Net Worth - because most of that Net Worth would be debt! That is "negative" personal net-worth.

    So, the calculation gets a bit-tricky - how does one calculate the Net Worth of property owned whilst the debt-incurred is being paid?

    This is the WikiPedia's notion of Net Worth:
    Frankly, those three elements of Net Worth are highly different!

    Which leaves a lot of questions as regards total Net Worth - but even more important is who owns that Net-Worth percentage-wise across the country? One cannot compare the Net Worth of an individual with that of company - that make no sense. They are both separate and different components of the total national-NW.

    From Investopedia:
     
    Last edited: Sep 27, 2021
  9. Pycckia

    Pycckia Well-Known Member

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    I don't get your chart. Median is a single number, not a range.
     
  10. LafayetteBis

    LafayetteBis Well-Known Member Past Donor

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    Only if your highschool teacher taught you that.

    In any string of numbers (from low-to-high) the "middle" can be a series of numbers.
     
  11. Pycckia

    Pycckia Well-Known Member

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    Actually, my statistics professor in grad school taught me that.
     
  12. crank

    crank Well-Known Member

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    Good luck measuring this 'created value', and trying to police its trade. Sounds like North Korea.
     
  13. bringiton

    bringiton Well-Known Member

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    The market already measures it just fine, and there is no need to police its trade if it is not appropriated by private interests seeking unearned wealth.
    No it doesn't. You simply made that up. It has no relation to anything I wrote.
     
  14. bringiton

    bringiton Well-Known Member

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    Because once you are on the escalator that the treadmill powers, the people still on the treadmill are compelled to raise you up, with no further effort or contribution on your part.
    Now that owning slaves is illegal. Owning a license to steal makes you one of the privileged, true.
    But private property in land is certainly and by far the greatest engine of inequality ever conceived. Owning land is owning part-shares in millions of part-time slaves called, "taxpayers. A simple mathematical simulation proves that if all landowners follow a strategy of just using their spare rent income to buy more land, all the land -- and soon after, everything else -- ends up owned by one person: maximum inequality.
    Because it started out widely owned, and the mathematics of landowning inevitably concentrated it in fewer and fewer hands. Rome started out as a democratic republic with widespread private landownership. But by the time of Marcus Aurelius, the inexorable mathematics of landowning had concentrated 90% of the land in the ownership of just 2000 individuals.

    The question is, can you find a willingness to know facts?
     
    Last edited: Sep 27, 2021
  15. bringiton

    bringiton Well-Known Member

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    AFAICT they give the medians as single numbers, but e.g., Pew defines middle class as ranging from 67% of the median income to 200%.
     
  16. crank

    crank Well-Known Member

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    Exactly - and we would never want to see that happen again!

    The Small Man must continue to be able to own private property - as per ancient Rome prior to Aurelius. We ought never return to a system in which the majority of land is controlled by a few - be they Govt as Caretakers, or private interests.
     

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