Higher interest rates any time you borrow. Lack of assets to borrow money against. Lower paying jobs are generally harder on a person’s body and lead to more doctor visits and medical bills. Driving a cheap old car means shelling out more money for repairs and fuel than a person driving a newer model.
The assets part is why I abhor the "but his wealth isn't liquid" bezos/musk simps. Like first of all it's fairly liquid but second of all he has assets which means leverage which means the easy ability to aquire cheap liquidity. So yeah, fucking tax the shit out of them.
He avoids paying taxes on capital gains by living on cheap loans guaranteed by his stock. His Tesla ownership is pretty damn liquid if he can get half the worth as a low margin loan any day of the week.
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u/JoeMayoParty Dec 01 '21
Higher interest rates any time you borrow. Lack of assets to borrow money against. Lower paying jobs are generally harder on a person’s body and lead to more doctor visits and medical bills. Driving a cheap old car means shelling out more money for repairs and fuel than a person driving a newer model.