Poverty Breeds CONSERVATISM....say what?!

You heard it here first , as economic inequality rises lower income individuals adopt a more conservative attitude towards wealth redistribution.

Peter Enns and Nathan Kelly of the University of Tennessee have arrived at this hypothesis after analyzing hundreds of survey questions from 1952 to 2006. The paper in its entirety can be found in the October of the American Journal of Political Science .

I have gotten a few messages lately asking me why I don't rant about commies as much as I used to...

Well, my fellow Vulture Capitalist Evil-Doers, today is your lucky day .

This study brings to the forefront what I have been trying to tell you guys since the last time I ranted about it...

Socialist Keynesians are the scourge of our world and must be stopped at all costs. Even the people they try to subsidize have clearly told them:
Enough with the welfare cheese, please...

Reality check America, nobody likes a free lunch. Speaking as someone who was so po' he literally could not afford the "OR" as a kid, I am not lying to you.

There is no correlation between poverty and stupidity, my friends. In fact, most of the poor and downtrodden could kick your ass in a square fight, whether it be physical or intellectual .

This is precisely why the poor DO NOT want a free lunch .

The reason this FACT comes to light in times of crisis is that the lower income classes are reminded by abominations such as TARP, that they will never rise up unless they do it themselves .

Quit thinking that wealth redistribution is anything other than a sob story that government shylocks have created for the purpose of getting a taste of your earnings in exchange for their protection ...

It is no surprise that the biggest welfare state proponents were born into money...

They fear the competition from those who truly understand hunger.


Give me your poor, your hungry and your downtrodden

And I will show you...people who want to earn it their damn selves

 

Income inequality breeds political extremes. Communists and extreme-right parties have been steadily gaining ground in Europe, while in the U.S. you've got the Tea Party and some extremely left-leaning Democrats (Waters, Frank) gaining steam. Who people vote for probably depends most on their upbringing. They think the center and mainstream parties are corrupt and ineffective and that somebody who caters to them (extreme parties are usually characterized by their populist streak) can finally give them the answers they seek. Bottom line is if you're white, from Iowa and are dirt poor, the Tea Party is looking great right now. If you're from Detroit, are African-American and can barely feed your kids, these Democrats need to be even more left-leaning than they are now.

I agree that most disaffected people don't want a free lunch. It's just too bad that the politicians catering to them are either fighting for even more free lunches or are trying to send the people "that took yer job" back home.

 
Best Response

Agree with you on some points, disagree with you on others.

Agree with you that it's now the long run and whaddaya know, Keynes is dead.

I am not sure that economic stratification encourages social/economic mobility, though. Aside from a few random kids who got scholarships to go to college, I have one of the poorest chldhoods I'm aware of in the front office at my bank. And I grew up on the upper side of middle-class. My Dad was one of the few people in this country who could AFFORD the (small outboard) boat he owned.

But I've got a lot of cousins who can't afford college right now. Education, IMHO, has been the great equalizer and a huge builder of the middle class. We should be doing everything we can to fund cost-efficient educations at high quality state universities.

 
IlliniProgrammer:
But I've got a lot of cousins who can't afford college right now. Education, IMHO, has been the great equalizer and a huge builder of the middle class. We should be doing everything we can to fund cost-efficient educations at high quality state universities.

Wrong. Government involvement in education has caused massive tuition inflation.

********************************* “The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher.” - Oscar Wilde
 
veritas14:
Wrong. Government involvement in education has caused massive tuition inflation.
Completely disagree. If that's the case, why is state school tuition 1/2 what private school tuition is even for out-of-state students?

State schools figured out how to do what the private sector couldn't do on it's own- efficiently and cheaply mass-produce high-quality graduates.

The country needs to start taxing endowment funds and redirecting that money to the country's top-twenty public universities that charge less than $20K/year for tuition to out-of-state students. Bring tuition down to $2K/semester for engineering, science, and math degrees at top public schools and maybe we can actually go back to being a country that makes stuff.

Heck, if we double the number of higher-quality materials science students this country produces, we might actually get a space elevator before I turn 40.

 
monkeysama:
People in poverty are, as a group, less intelligent than the rich. What's your point?

Don't equate credentials and "education" with intelligence...

********************************* “The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher.” - Oscar Wilde
 
veritas14:
monkeysama:
People in poverty are, as a group, less intelligent than the rich. What's your point?

Don't equate credentials and "education" with intelligence...

I didn't, you did. Smart people have more money than the poor because people on average want to be richer than poor. If you're poor you aren't smart enough, on average, to become rich. Therefore, on the average, poor people are not as smart as the rich. QED.

Whatever the hoops one has to jump through to become wealthy is besides the point.

 

It's too bad the people in the capitalism rocks photo are actually making fun of it with signs like "Profits before People," "Money is my life," "Cars over trees," etc

 

I don't know enough about whether people in poverty actually want out, so I won't comment on that.

However, I definitely agree on the wealthy using their power and stature to keep the bottom oppressed. I think one could make the argument that the wealthy liberal elite would like to see a return to feudalism. These people use welfare programs, food stamps, housing programs, etc, to keep the population enslaved in a form of modern day serfdom. They believe strongly in environmental policies that would create the modern day equivalent of an agrarian state. I'm not advocating this argument, but I believe it is certainly possible that the vision of the liberal elite is equivalent to a modern day feudalistic state.

As for above poster, military spending actually leads to a lot of scientific and engineering breakthroughs. Cutting down on military spending may actually reduct the amount of technological progress we make.

looking for that pick-me-up to power through an all-nighter?
 
<span class=keyword_link><a href=//www.wallstreetoasis.com/finance-dictionary/what-is-london-interbank-offer-rate-libor>LIBOR</a></span>:
I don't know enough about whether people in poverty actually want out, so I won't comment on that.

However, I definitely agree on the wealthy using their power and stature to keep the bottom oppressed. I think one could make the argument that the wealthy liberal elite would like to see a return to feudalism. These people use welfare programs, food stamps, housing programs, etc, to keep the population enslaved in a form of modern day serfdom. They believe strongly in environmental policies that would create the modern day equivalent of an agrarian state. I'm not advocating this argument, but I believe it is certainly possible that the vision of the liberal elite is equivalent to a modern day feudalistic state.

As for above poster, military spending actually leads to a lot of scientific and engineering breakthroughs. Cutting down on military spending may actually reduct the amount of technological progress we make.

It might lead to breakthroughs...but that's a byproduct and a really inefficient way to go about it. Also, there's virtually no spillover to the life sciences. Direct scientific research would be far, far, far, far more efficient. No reason we need to be spending 7x as much on our military as the next biggest spender.

You can't just talk about the small unintended benefits of military spending without considering the HUGE opportunity costs. Ec 101 here.

 
FrugalBoyz:
<span class=keyword_link><a href=//www.wallstreetoasis.com/finance-dictionary/what-is-london-interbank-offer-rate-libor>LIBOR</a></span>:
I don't know enough about whether people in poverty actually want out, so I won't comment on that.

However, I definitely agree on the wealthy using their power and stature to keep the bottom oppressed. I think one could make the argument that the wealthy liberal elite would like to see a return to feudalism. These people use welfare programs, food stamps, housing programs, etc, to keep the population enslaved in a form of modern day serfdom. They believe strongly in environmental policies that would create the modern day equivalent of an agrarian state. I'm not advocating this argument, but I believe it is certainly possible that the vision of the liberal elite is equivalent to a modern day feudalistic state.

As for above poster, military spending actually leads to a lot of scientific and engineering breakthroughs. Cutting down on military spending may actually reduct the amount of technological progress we make.

It might lead to breakthroughs...but that's a byproduct and a really inefficient way to go about it. Also, there's virtually no spillover to the life sciences. Direct scientific research would be far, far, far, far more efficient. No reason we need to be spending 7x as much on our military as the next biggest spender.

You can't just talk about the small unintended benefits of military spending without considering the HUGE opportunity costs. Ec 101 here.

Military spending allows us to have this conversation. Next time you're near the Pentagon stop by and thank them for the internet.

looking for that pick-me-up to power through an all-nighter?
 

The USA is spending money it doesn't have. Either we keep the same level of service, but become more efficient or we cut back on spending and remain inefficient. One way or another. What we cannot do is sit back and do nothing.

I feel for poor people. I really do. Problem is, I simply believe that many of the poor people today are that way through their own decisions. Maybe they screwed around in high school. Maybe they had kids too young. Did drugs. Whatever. End result, they are to blame.

The USA provides a pretty generous safety net. We simply cannot afford to keep doing so. Sucks, but maybe now is the time to better yourself and start fighting.

 

If the government was spending that much money nothing would happen.

A ton of money is already spent, by private companies. It is called the profit motive.

Why do you think the Military invented this shit? Not because the government would pat them on the head. They did it to improve war fighting.

Government is not the fucking answer. Shit, this is supposed to be a site with hungry Mo Fo's. I have never seen such a group of people that think some big omnipresent entity in Washington can magically make everything better by first taking money from people who earned it.

 
Anthony .:
If the government was spending that much money nothing would happen.

A ton of money is already spent, by private companies. It is called the profit motive.

Why do you think the Military invented this shit? Not because the government would pat them on the head. They did it to improve war fighting.

Government is not the fucking answer. Shit, this is supposed to be a site with hungry Mo Fo's. I have never seen such a group of people that think some big omnipresent entity in Washington can magically make everything better by first taking money from people who earned it.

There's a lot of economic reasons why scientists and research can't rely solely on private funding though.

The profit motive can break down for a lot of reasons. If the scientific research develops an innovation or breakthrough that is non-excludable (i.e. people can steal it/learn about it and use the development for their own purposes without paying for it), companies won't fund it. This happens a lot; and in a worldwide economy it is very difficult to effectively monetize large scale research projects with potentially huge social benefits.

Another issue is the uncertain payoff of scientific research and the long time frame. Individual corporations might not want to take on large research projects with long-term uncertain payoffs even if the IRR of the project is good, due to the large risk associated with lack of diversification.

 

How the fuck do you know how I grew up?

Also, where did I mention not helping poor kids? It is in all of our best interest to see poor kids do well, but we cannot allow parents to use their "poor little kids" as a leverage piece.

The country is broke. Everything needs to be cut. No exceptions.

 

Without the scholarships you would be only making 40k? Sounds like a decent middle class income. That would allow you to make the next generation a lot better.

Thanks, now I don't support tax credit either.

Oh, BTW, I grew up very poor and didn't have any tax credits to help me and I managed ok.

Only excuse I ever want to hear is "there is no excuse".

 
Anthony .:
Without the scholarships you would be only making 40k? Sounds like a decent middle class income. That would allow you to make the next generation a lot better.

Thanks, now I don't support tax credit either.

Oh, BTW, I grew up very poor and didn't have any tax credits to help me and I managed ok.

Only excuse I ever want to hear is "there is no excuse".

Did you have college scholarships.

Also, about your prior post...it's grossly inaccurate to say the US is broke, we are still one of the richest countries in terms of wealth per capita. It's more accurate to say we have a spending problem which is, again, one of the reasons I think we shouldn't be spending as much as the rest of the world on our military.

Trying to see eye to eye here.

 

I had academic scholarships and went to a private university.

Wealth per capital is only useful if the government taxes it. Our tax revenue does not meet our tax expenditures. We have to borrow to fund the gap. That means we are broke.

 
Anthony .:
I had academic scholarships and went to a private university.

Wealth per capital is only useful if the government taxes it. Our tax revenue does not meet our tax expenditures. We have to borrow to fund the gap. That means we are broke.

Did your private university give you need based financial aid? What about FAFSA? I had academic scholarships (national merit scholarship, Robert R Byrd scholarship), but I still was required to fill out FAFSA in order to receive need based financial aid. Most establishments with a good endowment do. In any case, the fact that our tax revenue does not meet our current expenditures doesn't mean that the united states is broke - the size of our nation's wealth (liquid and illiquid) which the government can draw on by various means, absolutely dwarfs our national debt. Debt financed spending is nothing new, and it's nothing extraordinary.

http://www.ritholtz.com/blog/wp-content/uploads/2010/05/National-Debt-G…

The current level of our national debt is very high, but by no means unprecedented.

 

ZERO need based help. I worked to pay for my school and worked full time throughout my entire education. In fact, full time to me was 60-70 hours a week while taking 18 credit hours. I have zero empathy.

Please explain to me how the government is going to take advantage of our nations wealth without taxing us more? Last time I checked the US government couldn't get a part time job.

Maybe we should just inflate the dollar and give monopoly money to the Chinese for interest payments. I am sure they would be extremely receptive of that and cheerfully loan us more hard currency.

 
Anthony .:
ZERO need based help. I worked to pay for my school and worked full time throughout my entire education. In fact, full time to me was 60-70 hours a week while taking 18 credit hours. I have zero empathy.

Please explain to me how the government is going to take advantage of our nations wealth without taxing us more? Last time I checked the US government couldn't get a part time job.

Maybe we should just inflate the dollar and give monopoly money to the Chinese for interest payments. I am sure they would be extremely receptive of that and cheerfully loan us more hard currency.

Anthony, that seems harsh. Why didn't you just go to community college or a SUNY instead of Syracuse?

I am not cocky, I am confident, and when you tell me I am the best it is a compliment. -Styles P
 
Anthony .:
ZERO need based help. I worked to pay for my school and worked full time throughout my entire education. In fact, full time to me was 60-70 hours a week while taking 18 credit hours. I have zero empathy.

Please explain to me how the government is going to take advantage of our nations wealth without taxing us more? Last time I checked the US government couldn't get a part time job.

Maybe we should just inflate the dollar and give monopoly money to the Chinese for interest payments. I am sure they would be extremely receptive of that and cheerfully loan us more hard currency.

Hey, good job at ignoring the big takeaway - you don't need to raise taxes to bridge the gap, just stop spending $68 billion to build 100 and change F22s...the cost of that program alone is larger than the nation defense budget of every other nation except for China and the UK.

Also...why do you think the national debt is so high to begin with...well, defense spending. WWII was unavoidable, but the next big spike is the Reagan/Bush years, who scaled up military spending massively at the expense of our national debt (35% -> 65%).

But yeah, you know what. You're absolutely right. Lets keep rolling out those shiny new F-22s and cut scholarships to those in need. Poor kids should work definitely work 60 hrs a week during school at the expense of their grades, social life and sanity because their parents are fuckups. Sorry chum; you lost the birth lottery.

 

Please learn to read.

I posted that we either increase efficiency or cut costs. Cut all costs, including defense. No where did I say only social programs should be cut.

I did just fine with my GPA, my network and my social group. I could of worked more to be honest. It is called not being a pussy.

Social life? I didn't realize that my tax dollars were going so you and your friends could drink Four Loko. How about your realize that life isn't fair and suck it up.

Zero Empathy.

@Eok - My story is long and complex, but I went to Syracuse with a nearly free ride. I paid the difference out of pocket. It cost me slightly more than a state school would have, but not 5-10x because of the scholarships.

 
Anthony .:
Please learn to read.

I posted that we either increase efficiency or cut costs. Cut all costs, including defense. No where did I say only social programs should be cut.

I did just fine with my GPA, my network and my social group. I could of worked more to be honest. It is called not being a pussy.

Social life? I didn't realize that my tax dollars were going so you and your friends could drink Four Loko. How about your realize that life isn't fair and suck it up.

Zero Empathy.

@Eok - My story is long and complex, but I went to Syracuse with a nearly free ride. I paid the difference out of pocket. It cost me slightly more than a state school would have, but not 5-10x because of the scholarships.

First of all, I never asked for empathy. I don't feel hard done by at all - I've done extremely well for myself. BUT that's because of the time I put in and because of the financial aid I recieved. I'm glad I put #1 first and worked my ass off at school instead of some crappy job. Honestly, I think that extra time is a difference maker. Sorry, but I wouldn't exactly consider Syracuse BA / Villanova MSF a success...

Also, Finance is about the most pussy major I can imagine. Just self read Hull and Natenberg. The major's a gigantic waste, it's like you didn't get a college degree (compared to CS/Math/Engineering).

Yes I'm being a dick, and no I'm not sorry for it. You're a fucking dick too; deal with it.

 

Back to the OP,

I would argue that there is some correlation between poverty and (a function of) intelligence, perseverance, determination, hard work, and good planning.

MKballer
 
mkballer:
Back to the OP,

I would argue that there is some correlation between poverty and (a function of) intelligence, perseverance, determination, hard work, and good planning.

WIkipedia speaks:

"Other studies show that ability and performance for jobs are linearly related, such that at all IQ levels, an increase in IQ translates into a concomitant increase in performance.[118] Charles Murray, coauthor of The Bell Curve, found that IQ has a substantial effect on income independently of family background.[119] Taking the above two principles together, very high IQ produces very high job performance, but no greater income than slightly high IQ. Studies also show that high IQ is related to higher net worth.[120]"

http://en.wikipedia.org/wiki/Intelligence_quotient#Income

 

Yeah dude, you need to also learn how to argue.

My lack of empathy was not specifically directed at you. Also, both of the schools I went to are well respected and highly ranked when looked at the whole of things. Considering I worked and paid for them all out of my pocket it is also impressive.

Furthermore, if you were poor and went to Harvard you wouldn't of needed government aid. They would have given you a free ride since you they are need blind schools. If you get in you will go regardless.

You're not a dick. You are just a pussy.

 

Midas, ah you are such a romantic! They don't want to earn anything, they just don't realize how they are benefiting from the social benefits and what would happen to their way of life if the benefits were to dry up. Also poor people tend to be more religious and thus more likely to adopt the beliefs of their spiritual leader, and all the tele-evangelists are republican

More is good, all is better
 

Midas, I'm sure you are, as I am, laughing (distressed/disturbed) at how quickly reasonable dialogue is replaced with stereotypes and generalizations. When did it become fashionable for "Intelligent monkeys" to stop listening to different opinions and instead shout that no other opinion is relevant. Come on guys, this is a sharp group...set the example for reasonable discussions...use both hands when catching a fly ball, kids are watching.

A good friend will come and bail you out of jail...but a true friend will be sitting next to you saying, "Damn...that was fun!"
 
LetsGoSailing:
Midas, I'm sure you are, as I am, laughing (distressed/disturbed) at how quickly reasonable dialogue is replaced with stereotypes and generalizations. When did it become fashionable for "Intelligent monkeys" to stop listening to different opinions and instead shout that no other opinion is relevant. Come on guys, this is a sharp group...set the example for reasonable discussions...use both hands when catching a fly ball, kids are watching.

Sadly, the one hand snap-grab is the way the game of life is played today. Good for the soul to remember some recall fundamentals, however.

 

Original post by Midas is awesome! For the all the other donkeys arguing against the point made in Midas' post I would suggest doing some serious research into the effects that government handouts, welfare programs, and wealth redistribution initiatives have in keeping those who are poor poor.

 

I am really going to step out here and make an observation. Due to a really tough time in our lives, my wife and I had to fall back on state sponsored medicine. It was free and I am truly thankful. We have since recovered, are back on our feet and each generate very respectable income that contributes to the tax base of this country.

My observation of the "welfare state" based on medical service is this: the system is bad. Naturally, the Anthony types would point out that you would want it to be bad by design, so as not to incentivize people to use it more. I get that aspect of the argument. What I do not understand is that it was so bad, it became self perpetuating.

In our case we would she would be scheduled for an examination in a very poor city. She did not drive at the time and not able to take a bus there. I would drive her to stated clinic. I could not leave and return to pick her up as the scheduling of service was a complete disaster. Typically, if you were more than 10 minutes late for an appointment your appointment was cancelled (logical). However, if you were on time it would take 1.5-2.5 hours to see a doctor. This system was so bad at addressing people on a timely basis it caused them to lose work or work substantially fewer hours and make them poorer.

My observation of poverty and government service is it is designed like a treadmill. The Anthony types strive to make it worse to get people of it. However, as no person is entirely cold, the programs are continued in a half-hearted manner. The result is the poor get service so poor they can't get on with their lives. This impoverishes them and the cycle continues.

As someone who has used this service and bounced back to be a productive member of society I view government aid much like venture capital. Engage in seven projects: four will fail pathetically, two will break even and one will be a phenomenal success. The success of one will outweigh the losses of the four. We can't save everyone but we all need to admit, sometimes it works.

Anthony I have read time and time again that you support community based programs. All due respect, when I was in a bind it wasn't the community that came through for me. It was the state. When was the last time you helped the homeless guy get an operation, some clothes and a job interview?

Throw as much monkey shit as you want at my name, I stood up for what I believe.

 

"Anthony Types"

Could you be anymore passive aggressive.

No where do I say we should single out welfare programs and cut them to the bone while everything else is fine. Plain fact is, while medicaid might not be wonderful and roses, you still got help and it was free. If you needed something in an emergency you could have gone to any ER and been helped.

Homeless individuals are a whole different story because they are most of the time mentally incapable of working. This is a whole other discussion so I will avoid it.

If you are poor or lose your job this country has many falls backs and safety nets. You are a perfect example. We give people 2 years of unemployment now. We have free medical for the old, poor, young and sick. We have food stamps, heating subsidies, free or low cost housing, college grants for low income people, etc.

Outside of the government there are charities, food pantries, private college grants and scholarships, community colleges, etc.

I feel that there is a lot of abuse going on in the system. I feel as if some of our benefits are too generous. I feel as if we do too much to support people and not enough to help people. Where is the cruelty or illogic in this?

Also, I rarely mention community based programs. The local township or small city is not set up to provide health care. The Fed and the State take care of these things. My argument is that in this country we provide enough that anyone can go from very poor to lower middle class with some effort. It is not easy, but nothing in life is easy. If you are healthy and born in the USA you have only yourself to blame.

Even more so now with the internet and the abundance of information.

What I find to be so funny is that people keep making excuses for poor people staying poor. When you make excuses for someone you are telling them it is ok to be a failure. I, on the other hand, like to hold people accountable and think that everyone is intelligent and capable of success. This does not mean that everyone will be able to get a masters from Harvard, but most people can handle trade school or an associates. Learning a trade will allow you to make far more than the minimum wage and coupled with basic personal financial knowledge you can have a decent life. This will allow you to raise children better off than you were raised and within a generation you can have well educated children.

But yeah, I am cruel and heartless. I just want people to better themselves and break the cycle of poverty.

I am proud to be an "Anthony type"

 
Anthony .:

I, on the other hand, like to hold people accountable and think that everyone is intelligent and capable of success. This does not mean that everyone will be able to get a masters from Harvard, but most people can handle trade school or an associates. Learning a trade will allow you to make far more than the minimum wage and coupled with basic personal financial knowledge you can have a decent life. This will allow you to raise children better off than you were raised and within a generation you can have well educated children.

But yeah, I am cruel and heartless. I just want people to better themselves and break the cycle of poverty.

I am proud to be an "Anthony type"

50% of the population have IQs below 100.

"They are Man's," said the Spirit, looking down upon them. "And they cling to me, appealing from their fathers. This boy is Ignorance. This girl is Want. Beware them both, and all of their degree, but most of all beware this boy, for on his brow I see that written which is Doom, unless the writing be erased. Deny it!" cried the Spirit, stretching out its hand towards the city. "Slander those who tell it ye. Admit it for your factious purposes, and make it worse. And abide the end."

"Have they no refuge or resource?" cried Scrooge.

"Are there no prisons?" said the Spirit, turning on him for the last time with his own words. "Are there no workhouses?"

More is good, all is better
 

My only platform is I want the government to get smaller and more efficient. I grew up poor so I know the trials and tribulations. I have no problem with social programs since I think it benefits us all to have a safety net. My only problem is when that safety net becomes this all encompassing spider web.

Government fucks up more things than it fixes, IMO.

 

The American dream is a myth. Odds are stacked against you.

Children from low-income families have only a 1 percent chance of reaching the top 5 percent of the income distribution, versus children of the rich who have about a 22 percent chance. Ø Children born to the middle quintile of parental family income ($42,000 to $54,300) had about the same chance of ending up in a lower quintile than their parents (39.5 percent) as they did of moving to a higher quintile (36.5 percent). Their chances of attaining the top five percentiles of the income distribution were just 1.8 percent. Ø Education, race, health and state of residence are four key channels by which economic status is transmitted from parent to child.

Link to paper: http://www.americanprogress.org/kf/hertz_mobility_analysis.pdf

 

@Sick Willy - - Please tell me where in the "american dream" does it say you are supposed to go from poor to top 5%?

The American Dream means that everyone has the option of education and advancement, regardless of status. We have no caste system here. We are attempting to level the racial and gender playing field. I want to see how the dream is broken.

I didn't realize that if it was improbable that someone dirty poor couldn't become Bill Gates that you shouldn't try. Get fucking real.

Also, do realize your source is left of center and is trying to make a point that this country is broken.

http://en.wikipedia.org/wiki/Center_for_American_Progress

I didn't realize that making 50-60K in this country wasn't worth getting our of poverty for.

 

I posted that just to support the point I wanted to make, which is that the "work hard and you can do anything!" mentality that many people have doesn't really seem to be true for most people.

I'm fiscally conservative and hate lazy fucks too but I like looking at data that goes against how I think about the world.

I didn't post that to wave it around as any kind of proof of anything.

 

I posted that just to support the point I wanted to make, which is that the "work hard and you can do anything!" mentality that many people have doesn't really seem to be true for most people.

I'm fiscally conservative and hate lazy fucks too but I like looking at data that goes against how I think about the world.

I didn't post that to wave it around as any kind of proof of anything or to tell people not to try.

 

Please support your statement. Regardless of it a certain % of people have an IQ above XYZ. IQ is not a measure of productivity.

Yawn. I am sick and tired of people discounting and disrespecting lower income people.

 

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More is good, all is better
 

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More is good, all is better

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

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success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”