Mar 26, 2021·1 reply
TheoryWealthy people putting money in would be doing it as a philanthropic move. Recruiting working class people would be much easier. You get all the working class people on your side, the rich would have to play ball.
So it’s just a really convoluted charity with way more overhead
- OPMar 26, 2021·3 repliesCLB Fractions
why would they do this over donating money to charity themselves
Lol I think this whole thread is going sideways due to mentioning the wealthy people
You’re a company, nobody working for the company takes home obscene profits, instead you compete against other banks by focusing on incentives that help the lower class. If your incentives are good enough, you will bring over millions of customers. Just having a huge amount of customers would be enough to be successful. Having a huge customer base causes your company to become very valuable. The more people are banking with you, the more money you have to invest and get returns on. Instead of keeping those returns, you give them back to the bankers that need it most.
- OPMar 26, 2021Buckleys Angel
So it’s just a really convoluted charity with way more overhead
More like an idea for a company that would focus on helping its customers instead of leeching off of them to feed the rich, and in turn would hopefully 1) help customers, and 2) increase competition so that other banks treat customers better as well.
Mar 26, 2021TheoryLol I think this whole thread is going sideways due to mentioning the wealthy people
You’re a company, nobody working for the company takes home obscene profits, instead you compete against other banks by focusing on incentives that help the lower class. If your incentives are good enough, you will bring over millions of customers. Just having a huge amount of customers would be enough to be successful. Having a huge customer base causes your company to become very valuable. The more people are banking with you, the more money you have to invest and get returns on. Instead of keeping those returns, you give them back to the bankers that need it most.
This would simply never happen under capitalism
Mar 26, 2021·1 replybanks dont give wealthy accounts great interest rates.
- Mar 27, 2021·1 replyTheory
Lol I think this whole thread is going sideways due to mentioning the wealthy people
You’re a company, nobody working for the company takes home obscene profits, instead you compete against other banks by focusing on incentives that help the lower class. If your incentives are good enough, you will bring over millions of customers. Just having a huge amount of customers would be enough to be successful. Having a huge customer base causes your company to become very valuable. The more people are banking with you, the more money you have to invest and get returns on. Instead of keeping those returns, you give them back to the bankers that need it most.
so would it be a charity? cause that's what it sounds like lmao
- OPMar 27, 2021MCN
banks dont give wealthy accounts great interest rates.
I must’ve misunderstood what I was reading. But taking the interest earned on higher income accounts and transferring it to lower income accounts would be the same concept
- OPMar 27, 2021CLB Fractions
so would it be a charity? cause that's what it sounds like lmao
I guess it would be a charity that anybody can join and that replaces a service that currently is predatory towards low income people
Mar 27, 2021·1 replyTheoryLol I think this whole thread is going sideways due to mentioning the wealthy people
You’re a company, nobody working for the company takes home obscene profits, instead you compete against other banks by focusing on incentives that help the lower class. If your incentives are good enough, you will bring over millions of customers. Just having a huge amount of customers would be enough to be successful. Having a huge customer base causes your company to become very valuable. The more people are banking with you, the more money you have to invest and get returns on. Instead of keeping those returns, you give them back to the bankers that need it most.
This is basically the rationale of a ponzi scheme.
- OPMar 27, 2021·1 replyCarbideAndCarbon
This is basically the rationale of a ponzi scheme.
Yeah I suppose so lol
I guess what I was really trying to make a thread about was ways to voluntarily redistribute wealth within a capitalist system. Instead of waiting on government to fix problems, how can they be fixed in our current state without the involvement of government. Banking seemed easy because almost everyone at least has a bank account, being able to distribute money directly to it would make the process easier.
- Mar 27, 2021·1 replyTheory
Yeah I suppose so lol
I guess what I was really trying to make a thread about was ways to voluntarily redistribute wealth within a capitalist system. Instead of waiting on government to fix problems, how can they be fixed in our current state without the involvement of government. Banking seemed easy because almost everyone at least has a bank account, being able to distribute money directly to it would make the process easier.
no idea why y'all always frame it as "waiting for government to fix problems" as if most if not all material gains made by the working class, or racial minorities. have been gained because they didn't wait for government, they organized and protested etc., to get those gains from the government
- OPMar 27, 2021Synopsis
no idea why y'all always frame it as "waiting for government to fix problems" as if most if not all material gains made by the working class, or racial minorities. have been gained because they didn't wait for government, they organized and protested etc., to get those gains from the government
Because protesting the government to fix income inequality has been happening my entire life and we’re still waiting on the government to actually do something about it?
I’m not saying the government shouldn’t be pushed to fix the issues, but they’re a slow moving machine that also fights against change. Might get change for a few years and have it pulled back with new leadership.
I think the government being sidestepped when it refuses to serve its people, and solving issues as a society regardless of what the government wants to do, is a good thing.