Badass vs Dumbass
Master your Financial Kung Fu to be one and not the other.
Go to Sifu’s Takeaway – Tax the Rich and Give Me My Latte Back
Primer: Who are Sifu & Ronin
Episode 23: Ronin Slips and Falls
Sifu: Ronin, I just read this Medium story you forwarded me.
Why Most Money Advice From The Rich & Financial ‘Gurus’ Is Garbage | by Rod T. Faulkner | Medium
Ronin: Yes Sifu. What did you think of it? The author seems pretty mad at “the system” and he says all the advice that financial guys give is worthless. Isn’t he talking about you too, boss?
Sifu: Afraid so, #1. He’s pretty upset at the whole thing. Here’s his first point:
I am sick of financial “gurus” and ultra-rich fat cats telling we “poors” to budget better in order to survive capitalism.
We are advised to make our own lunches to take to the office. Work harder. Stop buying lattes and avocado toast.
Quit playing video games or doing whatever it is we do to decompress from the hellscape that is modern life in the United States.
We are admonished to “Hustle!” Get more productive!
And Work, Work, and Work, until we croak.
Fuck that.
Sifu: Did you send me this article because you agree with him?
Ronin: Well, it felt like he was speaking directly to me! I am part of the “poors”. I make my lunches for work. I stopped going to Starbucks for lattes and toast. I stopped playing video games all night. AND, I am doing serious hustling on the side on top of being ultra-productive at my day job. He’s def talking to me!
Sifu: It does sound very much like you, #1. His second point was:
Here’s what needs to happen:
- The federal and state governments need to tax the hell out of the one percent. Trust, they will still be absurdly wealthy
- Employers need to pay a living wage for EVERY job. “But how will that be financially feasible?” “What about the businesses bottom line?” Easy solution: reduce CEO and C-Suite executive salaries by 60 percent. Distribute the rest to the employees
Fixed it.
Ronin: Yeah, great right? He has the ultimate solution to fix everything!
Sifu: Un-huh. And perhaps you should stop listening to my “garbage” advice and go straight back to your old ways of expensive lattes and playing video games all night instead of continuing to execute your plan to get to FIRE?
Ronin: Well … that did cross my mind. If the system is fixed, I’ll be ok right?
Sifu: Dumbass!
Ronin: What you sayin’ boss?
Sifu: Well, before I straighten out your crooked thought process, I do want to say upfront that I happen to agree with the author on several points.
Ronin: OK cool, you do.
Sifu: Yes, I too am angry at “the system” where the super rich and the corporations are taking the huge majority of profit from our modern capitalistic society, and leaving crumbs to everyone else. In fact, I am mad AF about that. They absolutely should be taxed more appropriately, leveling the playing field way more than today. The divide between the haves and the have-nots is getting way too wide. This gross disparity will wreck our society. I for one do not want to be very well off, and at the same time, see many many others around me not having enough to get by. That is not right.
Ronin: Yeah. I’m there with you, Sifu. I agree with that too. So what’s the problem. Fix this and we’re good, right?
Sifu: E-nope. If, and that is one big fucking IF, the system is made more fair, that would be a definite win for society as a whole, but do you know what it would mean to you specifically?
Ronin: It would mean I could relax from my go-go-go everyday existence and take it easy? Maybe, quit the second job and not save every penny I make?
Sifu: Wow, dude. I wish that solution would make it easy for everyone to do that, but unfortunately, it doesn’t work that way. You see, IF the system was fixed, you would def feel some relief, perhaps with lower taxes, perhaps with free healthcare, perhaps with better social programs. BUT, you would still not be on any path to FIRE, as you are now with the strategies you are starting to employ.
Ronin: Oh?
Sifu: The journey to FIRE that you’re on is paved with proven strategies, not “garbage”, so please go with what you know, and don’t be so easily distracted. If you didn’t put in the extra effort, you would still be like everyone else – stuck in the rat race, working until you drop at 65 or beyond.
Ronin: Yikes! You put it like that and I’m thinking this so-called solution is no solution at all for me and my goals. Your “garbage” is gold, boss – don’t care what they say!
Sifu: Welcome back to our world, #1. Thinking someone or something else is going to get you to the promised land, is the same as hoping for a massive lottery or casino payout. Not a winning proposition, is it?
Ronin: No boss. No way. Ok, ok. I’ll still vote to get the system fixed, but in the meanwhile, I am back aboard. There is no way I’m derailing the plan we’re building to get me to financial freedom.
Sifu: I knew you could walk and chew gum at the same time. Hee-hee. I’m glad you’re reading these articles, and soon you’ll be able to discern what is helpful and what is not. Wisdom comes in time, Padawan.
Ronin: Yes sir! What about lunch, does lunch come in time? I am hungry AF, boss.
Sifu: Hahaha – nothing changes around here.
Sifu’s Takeaway
Tax the Rich and Give Me My Latte Back
- Unless you’re ultra-wealthy, the system is broken. Capitalism unchecked can lead to massive inequality where the rich get super rich and most others are left behind to fend for themselves.
- The top 1% in the US make in excess of $600,000 a year. When people talk about raising taxes on this tier of taxpayers, it will likely not affect most of you. And if it does, surely you’ll still have way more than the other 99%. Most of the rich would not feel it.
- The rest of us can still fend for ourselves and get onto a FIRE path by following the proven strategies to take us to financial freedom.
- Stay strong and continue the good fight.
