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I don't understand the idea that living off investments is "independence". It's just a different kind of dependence. You're depending on other people to do work
by mykull 8y ago
I don't understand the idea that living off investments is "independence". It's just a different kind of dependence. You're depending on other people to do work while reaping the benefits. Sounds great, except when too many people do it.
- Trundle 8y agoIsn't anything bad by definition when "too many" people do it?
- AstralStorm 8y agoThis is also morally suspect. You're putting extra load (taxes if anything) on people while you're not working. If you think you can repay this cost to society with volunteer work or otherwise, this might work.
- Trundle 8y agoHuh? You contribute with your assets. People get to use your stuff in exchange for giving you stuff.
- deleted 8y ago[deleted]
- mykull 8y agoLending isn't productive in and of itself. There is a nice gradient stretching from freeloading rent-seeker to visionary/socially responsible investor. Not seeing the difference and condemning the former is a problem. The difference is in how many other people get fucked along the way as the investor gets their return.
- tonyedgecombe 8y ago"From each according to his ability, to each according to his needs" I thought we had got past the idea of collectivism, it just doesn't work.
- mykull 8y agoLittle is more naive than the broad claim "collectivism doesn't work" because the USSR and other states tried some form of it and failed. Even if you are willing to massively oversimplify things and look at the cold war and all the real-politik business of the last century as a fair contest between the ideas of collectivism and capitalism, "which system wins in a war" is not exactly the same thing as "which system maximizes prosperity." Nor are we actually limited to picking between the two.
- lord_ring_11 8y agoHe already played more than other people will ever pay in taxes in their lifetime, he does not have obligation to society.
- toomuchtodo 8y ago> Sounds great, except when too many people do it. It's a self regulating system. The more money that flows into investments, the lower returns will be pushed, causing more money to be required to support yourself off of investments alone.
- mykull 8y agoIt isn't that simple at all. When the returns are pushed lower, the means of extracting wealth from low class workers get more brutal. Suffering builds up at the bottom because of decisions at the top, and decision makers don't care because their experiences are entirely disconnected.