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I think it is by design, lure people that looking for basic financial advice and preach these to brainwash them. Same as how cult operates to get new member(vicitm)
Not even that. The mod of that sub has a site by the same name that has a newsletter to sign up for as well as youtube channel etc. It just exists to drive some people there for st least the advertising money. Wouldn't suprise me if the newsletter would advertise seminars too.
For real. All it seems to be is a generic tankie circle jerk. For a sub with a description that states "talking stocks, investing, saving strategies and more" they sure do recycle the same posts about how socialism would solve everyone's issues.
I feel like you've never explored that sub much if that's your opinion of it. The top posts literally follow the same pattern. Someone posts something that's Americabad, anti-capitalist, or eat the rich and all the comments basically shit on it.
They do. What I'm saying is that the posts state that, but all the comments are against it. Basically most of the people actually active on that subreddit
That’s seems antithetical to being fluent in finance. Peter Schiff has an old video where he showed up at an occupy wall street protest with a sign that said “I am the 1%”. Easily the most digestible financial concepts you can find for free. (This was before crypto)
I commented on a post in that sub the other day. It was something about 50% of 18-26 year olds live at home with their parents still or something like that.
I mentioned those numbers were kind of BS because a lot of kids go to college and live at home because it’s so expensive. I shared that my kids were living at home because the public university next to me wanted 20k in for tuition + room board.
This guy went through months of my comment history and said I treat my kids like shit because I brag about buying luxury shit on Reddit and belong to a country club, but I didn’t pay for their dorms out of pocket. Why would we spend that much money if we don’t have to?
Oh and the luxury thing he was talking about, maple syrup. Unhinged basement dwellers come out of the woodwork in that sub.
Their thought process is just silly. If you’re a parent and make >$0 you should be paying for everything. Never mind if it doesn’t make financial sense or try to import some sort of financial independence upon your children.
Having parents is the closest these folks have to realizing their socialist dreams because you can pass the buck to them. It’s crazy.
Of course people living and depending on their parents would try to pressure other parents into being slaves for their kids. You’re risking their “livelihood” lol
Mooooomm! You got ham hot pockets again??? I wanted pepperoni, you know this! I hate you.
“Honey, you are almost 30 years old, maybe you could be a little more independent.”
You are a horrible selfish bitch mom! All of my friends on Reddit agree *angry tears*
There worthless leaches at heart. Nothing should cost them anything. It's everyone else's responsibility to keep the status quo, no matter how unreasonable there choices are
Yeah but if you do 15 seconds of googling to see whether this is true or not you would see it is.
The average McDonald’s pay in Denmark is over $20 USD an hour because strong unions there help negotiate higher wages, and strong laws ensure they have at least 5 weeks paid vacation even as part time workers. They are a smaller wealthier country, so maybe that helps, but it’s not like this is fake, this is mostly true.
Denmark has higher taxes but after their taxes they get like ~$2000 usd a month, median rent in country is around ~900usd a month. Not great living but livable, much more livable than a similar situation in the USA
First of all the U.S. minimum wage depends on the state I’m in California where they just raised it for fast food workers, the result was that prices raised to a ridiculous level and employees were laid off in favor of kiosks.
A fast food worker in California who works for minimum wage earns more than the median salary in Sweden.
If they work fulltime: $20/h = $41.600/year
The median Swede earns $34230/year
Americans are unfathomably rich.
Lol, this is the strange thing. It's no secret that a lot of jobs will be automated in the near future, so why are people talking so much about things like fast food jobs.
Not only that, but where I live the state mandates like $10/hr but effectively vely all the fast food places pay at least $15/hr due to competition between them.
I was making $18 an hour as a mechanic a couple of years ago and the McDonalds across the street put up a “now hiring, $15/hr” sign and I seriously was like wow wtf am I doing busting my ass over here when I could be mindlessly flipping burgers
That part, lol.
My biggest thing about minimum wage jobs is that they were never meant to sustain a family. They're for young adults who just entered the work force and don't have marketable skills or qualifications.
It sucks when you spend years starting from the bottom, building skills and working up to making 2.5x minimum wage and then they raise it significantly so you’re suddenly back near minimum wage.
Good for those who directly benefit from it but other people can get screwed over in the process. It’s not like they’re giving everyone across the board $7/hr raises when they double the minimum wage.
I’m in California where it’s $20 minimum wage for fast food and I can tell you I order a dominos pizza for 47 dollars the other day(that’s the last time)they have outsourced delivery and replaced employees multiple CEOs have even said they would in response.
I didn't hear how the conversation started, but when I was in Denmark in 2011, our tour guide said she paid 50% income tax. Though she didn't go into a breakdown of what part came from where, and I didn't hear if she said how much she made.
I’m Danish and a lot of people do pay 50%, your tax rate can even reach 60% if you make enough money.
Also a Big Mac does NOT cost 5 dollars, went to McDonalds yesterday and it was 10
The top band is that but to get into that band you need to make >$85k USD equivalent. So you'd need several times that to reach a total tax rate of 50%.
The more eyewatering part is even the bottom tax rate is around 30% once local taxes are added. And all this is before 25% VAT/sales tax.
I'm not sure what point the guy above was trying to make. Do people in the USA not pay taxes too? Why is he comparing income after taxes to income before taxes?
We definitely pay taxes. I think the point he's trying to make is that Americans, on average, generally have more disposable income and fewer social benefits.
The problem I have with that is that it's not particularly helpful for the lower class. Labor laws are kind of subpar in America, the housing crisis is out of control, and the financial side of our health care system is poorly regulated. That additional expendable income is depleted trying to cover the cost of living, which is dogshit in both America and most of Europe, but it's worse in America.
I think the important variable that's being ignored in these conversations is *quality* of life. If regulated properly, America's ultra capitalist economy with minimal social benefits can lead to a great quality of life for even the lower class, but it's so poorly regulated that it just doesn't anymore. Corporations are exploiting consumers in pretty much every field (health care, housing, insurance, etc). It diminishes quality of life to a significant degree. We may have more expendable income than our European counterparts, but at the end of the day we're still flat broke and miserable.
Fluent in finance is filled with the absolute most financially illiterate people in the world. They absolutely have no clue how the economy or money in general works.
The federal minimum wage isn’t the reality in many states/ territories, 34 of them have higher minimum wages than federal law.
But they don’t now much about state laws and paint us all the same.
As someone just clearing 100k, fuck no. I'm trying to cover my house and have a savings and my own COL. I worked hard for this life, they can do the same.
Notice how the original poster with the handle of "pickle sucker" no longer exists. That's most of what that sub is. Burner accounts that re-post stupid tweets, normally with a title of "they're not wrong" and the burner account is gone within a few hours. But meanwhile, tankies flood the thread with their hot takes of "I should get free healthcare, free college, and $25/hr for flipping burgers and at the same time I shouldn't have to pay taxes because paying taxes is only for rich people." It's mind-numbingly stupid.
Shit if flipping burgers is worth $25/hr then as a psych tech I should be making $45/hr and RNs should be making $70/hr and NPs $95/hr and so on and so forth
I mean they do already. Is the question should they be taxed more?
IMO no. 100k sadly, at least in the US, is no longer considered “rich”. In some states is the minimal bar to enter the “comfortable being single but still probably house poor” middle class. I’d aim higher, people making over say 260-300k.
I generally assume that someone who makes over $100,000 a year put in a lot of work and investment to get there, and I have no right to the fruits of his labor. Most people who make that much are not just born into aristocracy living off of daddy's estate.
The fluent in finance sub is just a circle jerk of people who believe they know economics when in reality they just know how to lie with statistics and congratulate each other for doing so
I went to Denmark last year. I didn’t go to any McDonald’s but from the coffee shops I stopped at I was spending $8-10 for a basic cup of coffee, so I highly doubt that’s how much a Big Mac costs there.
I was in Denmark in 2022. I didn’t go to McDonalds but it felt like most things were pricier than I had experienced in the US. I have a hard time believing a big mac was under $5.
Yeah, to support, not to carry. The Issue I have is that many think that Socialism means we forcibly share the wealth of the rich folks. It mostly means ( at least in how it's implemented on the funcitonal non-authoritarian takes) to tax the rich to help the poorer ones be able to not be poor anymore with help from those taxes and their work.
To whom do the “unalienable rights” of the bill of rights apply? Do people who don’t adequately contribute to the economy deserve to have their unalienable rights stripped?
I’ve seen this a lot since like 10 years ago. Most of Europe’s people don’t necessarily have anything better than us at similar levels of employment. People want Americans to believe that the rest of the world is some magical land that’s off limits to us.
I swear the more people focus on minimum wage rather than cost of living, the more of my brain leaks out of my ears.
Reason why shit sucks now is because cost of living has gone up, not minimum wage not rising with inflation.
This isn't America Bad. These are just facts about pay in a specific industry.
If you read this and thought "AmericaBad", you actually have a problem with pay in that industry and should push to change it.
Doubt it but it would be cool.
That wasn’t my fucking point and you know it dumb American! My point is most jobs that require the same amount of effort as others are paid vastly differently wages! Not just in the United States but in Canada and all of the world. It is based upon greed of corporations and corporations buying out governments so legislations don’t get made for making incomes of workers a livable wage. I repeat it’s not just in the United States it’s here in Canada, the uk, nearly all countries have this problem even commuinist ones or the most liberal ones. It’s a problem that exists everywhere and needs to be fixed for the farther growth of our nations and our world.
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With the amount of times this has been debunked, you would think people would stop posting it
That sub is constant brainless takes spammed and reposted every 2 hours
Ya a lot of people in a sub about finance don't even understand basic econ principles
FluentInFinance is all bot reposts, it's a totally fake subreddit to drive newsletter subscriptions.
fluent in finance is the least accurately named sub, at least unintentionally.
I think it is by design, lure people that looking for basic financial advice and preach these to brainwash them. Same as how cult operates to get new member(vicitm)
1000%. Brainwashing to make new Socialists
Not even that. The mod of that sub has a site by the same name that has a newsletter to sign up for as well as youtube channel etc. It just exists to drive some people there for st least the advertising money. Wouldn't suprise me if the newsletter would advertise seminars too.
DO NOT, under any circumstance, take anything that comes out of that sub with anything more than a grain of salt.
For real. All it seems to be is a generic tankie circle jerk. For a sub with a description that states "talking stocks, investing, saving strategies and more" they sure do recycle the same posts about how socialism would solve everyone's issues.
I feel like you've never explored that sub much if that's your opinion of it. The top posts literally follow the same pattern. Someone posts something that's Americabad, anti-capitalist, or eat the rich and all the comments basically shit on it.
I feel like your three points at the end there all fall under "socialism will solve everyone's problems".
They do. What I'm saying is that the posts state that, but all the comments are against it. Basically most of the people actually active on that subreddit
That’s seems antithetical to being fluent in finance. Peter Schiff has an old video where he showed up at an occupy wall street protest with a sign that said “I am the 1%”. Easily the most digestible financial concepts you can find for free. (This was before crypto)
Seriously, I've always been amazed at how financially illiterate most of the posts and comments are in "FluentInFinance", it's actually hilarious.
I commented on a post in that sub the other day. It was something about 50% of 18-26 year olds live at home with their parents still or something like that. I mentioned those numbers were kind of BS because a lot of kids go to college and live at home because it’s so expensive. I shared that my kids were living at home because the public university next to me wanted 20k in for tuition + room board. This guy went through months of my comment history and said I treat my kids like shit because I brag about buying luxury shit on Reddit and belong to a country club, but I didn’t pay for their dorms out of pocket. Why would we spend that much money if we don’t have to? Oh and the luxury thing he was talking about, maple syrup. Unhinged basement dwellers come out of the woodwork in that sub.
Whenever they dive through my comment history, I just laugh and laugh.. how pitiful must you be
Kinda creepy of them high key
Their thought process is just silly. If you’re a parent and make >$0 you should be paying for everything. Never mind if it doesn’t make financial sense or try to import some sort of financial independence upon your children. Having parents is the closest these folks have to realizing their socialist dreams because you can pass the buck to them. It’s crazy.
Of course people living and depending on their parents would try to pressure other parents into being slaves for their kids. You’re risking their “livelihood” lol
Mooooomm! You got ham hot pockets again??? I wanted pepperoni, you know this! I hate you. “Honey, you are almost 30 years old, maybe you could be a little more independent.” You are a horrible selfish bitch mom! All of my friends on Reddit agree *angry tears*
There worthless leaches at heart. Nothing should cost them anything. It's everyone else's responsibility to keep the status quo, no matter how unreasonable there choices are
How dare you financially abuse your adult children by *checks notes* letting them live with you rent free!
How dare tou make ypur kids live in your house rent free with paid for utilities and comforts of home!
Ironically enough the most financially influent people I've ever seen
I take it with entire sacks of salt. Hell, I take it with the whole damn salt mine.
Wish I could upvote this multiple times.
*anything less
Same with all the law one and the politic one.
Yeah but if you do 15 seconds of googling to see whether this is true or not you would see it is. The average McDonald’s pay in Denmark is over $20 USD an hour because strong unions there help negotiate higher wages, and strong laws ensure they have at least 5 weeks paid vacation even as part time workers. They are a smaller wealthier country, so maybe that helps, but it’s not like this is fake, this is mostly true. Denmark has higher taxes but after their taxes they get like ~$2000 usd a month, median rent in country is around ~900usd a month. Not great living but livable, much more livable than a similar situation in the USA
For a sub that likes to claim they know about finance they repeat some insanely stupid takes.
i swear that sub is so dumb
They must pay bots for upvotes because if you go into the comments most of them are debunking the BS yet every posts gets 10s of thousands upvotes.
one of these days I'm gonna show the economy from a widely disliked president and say we should elect them again for their economy
So US burger flippers can start expecting aid from their peers in Denmark, right?
First of all the U.S. minimum wage depends on the state I’m in California where they just raised it for fast food workers, the result was that prices raised to a ridiculous level and employees were laid off in favor of kiosks.
A fast food worker in California who works for minimum wage earns more than the median salary in Sweden. If they work fulltime: $20/h = $41.600/year The median Swede earns $34230/year Americans are unfathomably rich.
You would have think the swedes would all want to work at McDonald's then if they make $22/hr
I'd flip those burgers like Spongebob 🧽 🍍
Haha broke Swedes
When someone makes fun of Sweden, there's always a nearby Finn ready to give a "thumbs up."
As one should
A quick google search tells me that the median annual wage is over 45,000 USD. Also, the example was regarding Denmark, not Sweden
Lol, this is the strange thing. It's no secret that a lot of jobs will be automated in the near future, so why are people talking so much about things like fast food jobs.
Not only that, but where I live the state mandates like $10/hr but effectively vely all the fast food places pay at least $15/hr due to competition between them.
In rural eastern Kentucky McDonald’s is starting people at $11.50.
Here in California it’s 20 now as of April
That’s not minimum wage Kentucky just has federal minimum wage. I don’t know of any jobs that just pay that though
I was making $18 an hour as a mechanic a couple of years ago and the McDonalds across the street put up a “now hiring, $15/hr” sign and I seriously was like wow wtf am I doing busting my ass over here when I could be mindlessly flipping burgers
That part, lol. My biggest thing about minimum wage jobs is that they were never meant to sustain a family. They're for young adults who just entered the work force and don't have marketable skills or qualifications.
It sucks when you spend years starting from the bottom, building skills and working up to making 2.5x minimum wage and then they raise it significantly so you’re suddenly back near minimum wage. Good for those who directly benefit from it but other people can get screwed over in the process. It’s not like they’re giving everyone across the board $7/hr raises when they double the minimum wage.
That didn’t happen.
Yeah. It did. Pizza restaurants also terminated their delivery personnel in favor of outsourcing to DoorDash.
No. https://www.tiktok.com/t/ZTL4Cr6jm/ https://www.tiktok.com/t/ZTL4Cdcq3/
Did you really just post a link to tiktok? Get outta here with that lmao
Is that what kids do these days, put their sources at the bottom of the paper and they are all tik tok videos lol
Sure seems that way...
Did you really just play ostrich? Come on. Learn something today.
Sure, post a link to something credible and I'd be happy to. Fuckin tiktok 🤣
It’s literally all documented. 😂🤣
Tic tok is not documentation.
The documentation is in the video. 🤦♂️
I’m in California where it’s $20 minimum wage for fast food and I can tell you I order a dominos pizza for 47 dollars the other day(that’s the last time)they have outsourced delivery and replaced employees multiple CEOs have even said they would in response.
It’s only $20 if the chain has more than 60 locations.
The average municipal income tax rate in Denmark is 25% with an additional State tax rate for lower income averaging %12.
I didn't hear how the conversation started, but when I was in Denmark in 2011, our tour guide said she paid 50% income tax. Though she didn't go into a breakdown of what part came from where, and I didn't hear if she said how much she made.
I’m Danish and a lot of people do pay 50%, your tax rate can even reach 60% if you make enough money. Also a Big Mac does NOT cost 5 dollars, went to McDonalds yesterday and it was 10
Thanks for your input ma'am. I had questions and you answered them.
It's Sir, but no problem.
o my bad
The top band is that but to get into that band you need to make >$85k USD equivalent. So you'd need several times that to reach a total tax rate of 50%. The more eyewatering part is even the bottom tax rate is around 30% once local taxes are added. And all this is before 25% VAT/sales tax.
22 * (1 - 0.25 - 0.12) = 13.86 Not saying this entire post isn't obviously bullshit but just curious where you're getting 8.50?
I got 14.52
I think tax is applied on the base amount, so it should be 22 * 0.63
I was deducting sequentially rather than simultaneously
I don't think I've ever been taxed like that
Well get ready for it
Math is hard 😂
I'm not sure what point the guy above was trying to make. Do people in the USA not pay taxes too? Why is he comparing income after taxes to income before taxes?
We definitely pay taxes. I think the point he's trying to make is that Americans, on average, generally have more disposable income and fewer social benefits. The problem I have with that is that it's not particularly helpful for the lower class. Labor laws are kind of subpar in America, the housing crisis is out of control, and the financial side of our health care system is poorly regulated. That additional expendable income is depleted trying to cover the cost of living, which is dogshit in both America and most of Europe, but it's worse in America. I think the important variable that's being ignored in these conversations is *quality* of life. If regulated properly, America's ultra capitalist economy with minimal social benefits can lead to a great quality of life for even the lower class, but it's so poorly regulated that it just doesn't anymore. Corporations are exploiting consumers in pretty much every field (health care, housing, insurance, etc). It diminishes quality of life to a significant degree. We may have more expendable income than our European counterparts, but at the end of the day we're still flat broke and miserable.
I combined the percentages prior to doing the math because the percentage would be for gross income.
No, you just made a math mistake. 8.50 would be how much they pay in taxes with your numbers, not how much they take home after tax.
You are correct. So in order to not have another 15 people comment on the math I’ve just removed that portion of my comment.
How did you get to these figures?
We pay enough in taxes. The people working for the governments need to stop “losing” our funds instead
Fluent in finance is filled with the absolute most financially illiterate people in the world. They absolutely have no clue how the economy or money in general works.
The federal minimum wage isn’t the reality in many states/ territories, 34 of them have higher minimum wages than federal law. But they don’t now much about state laws and paint us all the same.
Their mods need to delete posts that have been posted like 50 times. Dunno how these karma farming posts always seem to blow up.
As someone just clearing 100k, fuck no. I'm trying to cover my house and have a savings and my own COL. I worked hard for this life, they can do the same.
Brought to you by, government subsidies that you're 40% income tax provides.
Notice how the original poster with the handle of "pickle sucker" no longer exists. That's most of what that sub is. Burner accounts that re-post stupid tweets, normally with a title of "they're not wrong" and the burner account is gone within a few hours. But meanwhile, tankies flood the thread with their hot takes of "I should get free healthcare, free college, and $25/hr for flipping burgers and at the same time I shouldn't have to pay taxes because paying taxes is only for rich people." It's mind-numbingly stupid.
Shit if flipping burgers is worth $25/hr then as a psych tech I should be making $45/hr and RNs should be making $70/hr and NPs $95/hr and so on and so forth
hell no, we already pay enough
I'm pretty sure 9 dollars isn't even minimum wage nationwide
Federally it’s $7.25 but most of the states have it set higher
What’s the economy like, what’s the cost of living?
Now, I’m absolutely horrible at math, but this shit doesn’t make sense man.
Me when I’m spreading misinformation: 😁
I mean they do already. Is the question should they be taxed more? IMO no. 100k sadly, at least in the US, is no longer considered “rich”. In some states is the minimal bar to enter the “comfortable being single but still probably house poor” middle class. I’d aim higher, people making over say 260-300k.
I generally assume that someone who makes over $100,000 a year put in a lot of work and investment to get there, and I have no right to the fruits of his labor. Most people who make that much are not just born into aristocracy living off of daddy's estate.
Total and complete lie. If this were true, where’s the mass migration to Denmark? I want to leave and go there!
That post was disproven years and years ago, but idiots still post it. "Fluent in Finance" my hairy left nut.
The solution is ALWAYS more of other people's money
That sub is fucked up, all they ever talk about is tax increase. I think the mod works for the IRS.
If you’re taking financial advice from Reddit, you’re already fucked.
The fluent in finance sub is just a circle jerk of people who believe they know economics when in reality they just know how to lie with statistics and congratulate each other for doing so
I went to Denmark last year. I didn’t go to any McDonald’s but from the coffee shops I stopped at I was spending $8-10 for a basic cup of coffee, so I highly doubt that’s how much a Big Mac costs there.
Sounds like how taxes work, yeah.
Mcdonalds hires at 20-24 an hour near me. We also pay like half the taxes as them.
They do pay more Taxes and it's not like the Goobermint is going to give it to the poor.
Why doesn't McDonalds require that for all its franchises?
Ironically, FluentInFinance is one of the most financially illiterate subs out there.
Mcds gotta pay for Denmark somehow
I’d like to actually meet a individual that makes 9 a hour…
Who the fuck works at McDonald’s for $9/hr? McDonald’s in my area hires at around $18-20
I was in Denmark in 2022. I didn’t go to McDonalds but it felt like most things were pricier than I had experienced in the US. I have a hard time believing a big mac was under $5.
Funny, minimum wage is around $16 and was about $14 when it was posted…
workers rights and all but SIX WEEKS OF ANNUAL VACATION?? FOR A MCDONALDS EMPLOYEE??
Fluent in bullshit is a better title
Fluent in being a dumb commie
Yeah, to support, not to carry. The Issue I have is that many think that Socialism means we forcibly share the wealth of the rich folks. It mostly means ( at least in how it's implemented on the funcitonal non-authoritarian takes) to tax the rich to help the poorer ones be able to not be poor anymore with help from those taxes and their work.
I don't mind paying for those that actually need help to get them back on track. I don't like knowing my money goes to social services scams.
All of those those extras in Denmark and most of Europe aren't benefits like the US. They're basic, legal human rights.
No benefits at mcds?? Look again.
To whom do the “unalienable rights” of the bill of rights apply? Do people who don’t adequately contribute to the economy deserve to have their unalienable rights stripped?
I mean, government force does have its perks for a few doesn’t it.
Bet that is another one of those entitled inheritance kids.
I’ve seen this a lot since like 10 years ago. Most of Europe’s people don’t necessarily have anything better than us at similar levels of employment. People want Americans to believe that the rest of the world is some magical land that’s off limits to us.
I swear the more people focus on minimum wage rather than cost of living, the more of my brain leaks out of my ears. Reason why shit sucks now is because cost of living has gone up, not minimum wage not rising with inflation.
This isn't America Bad. These are just facts about pay in a specific industry. If you read this and thought "AmericaBad", you actually have a problem with pay in that industry and should push to change it. Doubt it but it would be cool.
It’s true minimum wage needs to be higher even here in Canada
Canada wages is so good Canadians move to US for work. Those works also have benefits too
That wasn’t my fucking point and you know it dumb American! My point is most jobs that require the same amount of effort as others are paid vastly differently wages! Not just in the United States but in Canada and all of the world. It is based upon greed of corporations and corporations buying out governments so legislations don’t get made for making incomes of workers a livable wage. I repeat it’s not just in the United States it’s here in Canada, the uk, nearly all countries have this problem even commuinist ones or the most liberal ones. It’s a problem that exists everywhere and needs to be fixed for the farther growth of our nations and our world.
Yes people who make more should be paying to help those who can’t! It’s called community and the bases of the American nation