With My Mind on My Money... #JohnGalt2014

Posted by $ KahnQuest 6 years, 9 months ago to Pics
6 comments | Share | Best of... | Flag

Places where we hope people think about their money: ATM, gas pump, grocery store.


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by CircuitGuy 6 years, 9 months ago
    I believe people perceive fuel as a more significant cost because they stare at the dollars being spent for a minute. Suppose fuel went up $2/gallon. This would cost the average person driving 1000 miles/mo in a 25mpg car an extra $80/mo. This is down in the noise for people with good incomes. For people near poverty, all kinds of $80 hiccups in life problems. We only think about gas b/c we stare at it.

    Imagine all taxes were done the same way. You put a card in and watched the money tick up for one minute. I think this simple fact would cause taxes to be cut in half. People hate going and watching $40 count up once a week. Imagine if they also had to watch hundreds of dollars count up. It would be the same the amts withheld on paychecks or sent in with 1040-ES. You'd just have to watch it. It would change everything.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by $ 6 years, 9 months ago
      Quite true. Too bad we can't get the sticky notes onto people's paychecks, right beside the withholding amounts!
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by CircuitGuy 6 years, 9 months ago
        Yes. I really wish people actually received the money they earned and then had to pay it at a gas pump while watching the numbers shoot by. Heck, if you just received a wad of C-Notes and the hand to hand 20% to the Federal window (higher for people earning more), 7% to the WI DoR, and 7.65% to SSA, it would make a huge difference. Even mathematical people like me think better in small tangible items. You could earn 20 C-Notes but then have to hand 7 of them to income taxing authorities. The mind understands that better than the data on a pay stub.
        Reply | Mark as read | Parent | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo