Comments by "Maxwell Benz" (@Tential1) on "CNBC"
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@TENNSUMITSUMA no, it's kept in a national fund, held in American stocks. So it's something only a small nation can do. If America did similar the government would own the whole stock market, and we would have a central controlled economy. The wealth is just, there.... So, you could go your whole life and never spend the full benefit of your "portion" of that wealth. Also, you're dependent on america delivering good stock returns. So you have to keep america capitalistic. If America ever said "I don't care about economic growth" like some people are now, thats not good. I've got a lot to say on the matter, it's not bad, but it's not good. Keep in mind, I work in the financial industry, specifically with pensions, so, I don't want to advocate against my customer.... They pay us literally enough to make a few new billionaires, an insane number of new millionaires(I mean, I seen lower level entry people pull in a million in a good year) so, I really don't like advocating against pensions. Pensions are really really really good for my industry.... For people? Well... Like I said.... You may never even spend your "pension" benefit, so it's better it goes to you directly, and I personally, would never ever ever ever sign up for a pension system instead of contributing to my own personal. But.... I mean... I really really need you to believe in pensions... For my personal benefit...
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@BlairTravis it's not necessarily democrats or Republicans, but currently, wall st works more through the democratic party. They did it so slowly, you have democrats defending big pharma now. Wall st uses whatever is convenient and right now, the democratic party has so many methods, and they can still blame evil Republicans as the party of business. I mean, the democratic party was able to frame give aways to big businesses in the form of the inflation reduction act and chips act as good for normal Americans. I mean, I'd complain, but, it's funneling the money directly to all of my investments so, I feel like I'm playing the game right. And if this is the game, I'll play rather than complain.
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Then do it. Start a company. No one is stopping you from riding the corporate ladder either. Lots of people I know have made millions working at these companies at levels far below ceo. Lol. You do realize some companies pay engineers more than ceos? Some traders have made more than ceos? Ceo pay has to be reported. If Apple pays an engineer 30 million a year, that doesn't have to be reported. In fact, a lot of engineers make 7 figures, to do basically nothing. Just so they don't leave and start competing companies. Same with investment bankers, traders, hell, I seen people pull 9 figure paychecks lol. Hell, come to mention in, in my industry, in slightly adjacent fields, you can make a million dollar bonus, at entry level.
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@Mcfunface pp loans were your salary.... It was the government paying you through business, so as to not cause unemployment disruption. If we hadn't done the ppp program, no one would have been paid, and the whole country would have went into an insane recession. It's not the same thing. Not even remotely. Student loans were your choice. A government shutdown of all businesses isn't. Also, it's literally in the law, that the government must reimburse business. The ppp program was done to abide by that law. Without it, you would have had businesses sue, and create ppp anyway. There is zero reason why the government should pay your student loans. If that's the case, then why not pay my house off too? My car? I'll buy a Lamborghini then, student loan forgiveness makes no sense, it's just lazy kids who want free money, because they perceive someone else got it. It also just proves, the democratic party is about the middle/high income worker. Not the poorest people, who didn't even get a chance to go to college. That's what you'd think you people would be fighting for. Instead, you want a one time handout that won't affect any future generations. Just shows how selfish the people there have become. I was happy to pay for you before. Now, I see you want handouts for PhDs.... Lol... It's obvious how corrupted you've become.
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@TheChinaPlay bro, people are genuinely stupid, and keep trying it again and again. Top down control is idiotically hard, yet for some reason, everyone thinks they can do it better than the collective minds of a society. But, rather than try it in new York or California, no, they want to force the whole country to do it. Try it in your state first and if we all like it, we'll adopt it. Bail reform. Go ahead new York, try it. See how it works. If you get it right one day, we'll do it...
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If the people at the top of GM, Ford, and srelksnrie are vastly overpaid, start a business of providing CEOS to big companies. If you can save a company 20 million in ceo compensation, they'll pay you 5 million. The CEO is just a manager, just like at your local McDonald's. The manager doesn't own the McDonald's. The CEO doesn't own the company. Not sure why people don't understand that still. Ceos are hired by boards of directors, who are voted on by shareholders. But shareholders can directly fire ceos, just bring it up to a vote. Pretty easy and regularly happens. shareholders and boards agree to pay CEOs. CEOs dont pay themselves.
Put it this way, you have 50B invested in ONE company. You can't sell the investment, you HAVE to own it. So, to protect your 50B, you can hire a CEO for 10M, or a CEO for 20M. To protect 50B. 10M or 20M doesn't matter to you then, because they're managing your whole 50B investment. That's why CEOs get paid a lot. IT has NOTHING to do with how much average workers make. You keep trying to compare the two, but I, as a shareholder, don't care if a Lineworker quits tomorrow. Ok, whatever, hire someone new. If the CEO quits, I'm SCREWED. I could lose all of my money, they run the company. So you're thinking about this all wrong.
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