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David Lynch LA House

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Re: David Lynch LA House

#121
post #64
post #57

Earlier quoted context omitted.

> not a wealthy man by Hollywood standards

It’s funny, but as someone who’s worked in music production, when you say that what comes to my mind is that the vast majority of people in the entertainment industry are nowhere near as wealthy as David Lynch. “Hollywood standards” to me is several struggling actors sharing a flat.

Lots of people who are paid well are not at all wealthy, because they spend nearly all their income, and sometimes forget to pay taxes.

See Will Smith.

Re: David Lynch LA House

#122
My accountant told me of a newly minted Microsoft millionaire who decided to spend it all on a house. His advice was he would not be able to pay the taxes or upkeep on the house.

His client didn't listen, and in two years was forced to liquidate the house.

What you pay for a house is only the beginning of what you're going to pay.

Re: David Lynch LA House

#124

Earlier quoted context omitted.

Lol. Doctors and lawyers are the very definition of middle class! Middle class is people who trade labor for money, but who sometimes have a (full or partial) ownership stake in the business they work for. They are what marxists might call the "petit bourgeoisie".

> Doctors and lawyers are the very definition of middle class! Doctors and lawyers are often middle class (petit bourgeois) but also can be part of the better paid, highly educated segment of the working class (proletarian intelligentsia). Economic class isn’t about job title or even really strictly income, though it correlates to both.

I think we agree.

The main point I was making is that doctors and lawyers (and tech workers!) are not members of some "upper" or "capitalist" (depending on which terms you prefer) class, irrespective of their income, because the value they collect is primarily a result of their labor.

Re: David Lynch LA House

#125
post #70

Earlier quoted context omitted.

It’s not terribly hard to get into that position, if you spend 40 years of your time and treasure on something with resale value instead of on food and experiences. You can do something similar if you buy a house and keep buying any neighboring house that comes up for sale (and renting them out, perhaps).

> It’s not terribly hard Uhm, it must be, or more people would do it

Losing weight isn’t terribly hard but still lots have trouble doing it.

Re: David Lynch LA House

#126

My accountant told me of a newly minted Microsoft millionaire who decided to spend it all on a house. His advice was he would not be able to pay the taxes or upkeep on the house. His client didn't listen, and in two years was forced to liquidate the house. What you pay for a house is only the beginning of what you're going to pay.

[deleted]

Re: David Lynch LA House

#127

Earlier quoted context omitted.

> Doctors and lawyers are the very definition of middle class! Doctors and lawyers are often middle class (petit bourgeois) but also can be part of the better paid, highly educated segment of the working class (proletarian intelligentsia). Economic class isn’t about job title or even really strictly income, though it correlates to both.

I think we agree. The main point I was making is that doctors and lawyers (and tech workers!) are not members of some "upper" or "capitalist" (depending on which terms you prefer) class, irrespective of their income, because the value they collect is primarily a result of their labor.

The petit bourgeoisie and the haut bourgeoisie are both capitalist classes, though the petit bourgeoisie is a hybrid capitalist class (in the traditional formulation, dependent on ability to apply their own labor to their capital in order to live without liquidating capital [0]) rather than a pure capitalist classs like the haut bourgeiosie. And while the petit bourgeoisie is a “middle” class in the sense of being situated between the proletariat and the haut bourgeoisie, both bourgeois classes are “upper” classes in the sense that in capitalist society they together represent an elite minority of the population, most of which working class.

The sense in which they are a “middle class is quite distinct from the usual American sense of “middle class” which is usually an income-defined band centered around median income which is overwhelming part of the working class in the scheme in which the petit bourgeoisie are the “middle class”.

[0] But I think most people who use the scheme now would recognize more diversity, including the form probably most common to modern white-collar professionals, where rather than applying their own labor to their own capital, a lot of the petit bourgeiosie both rents labor out to other capitalists in the manner typical of the proletariat and has capital to which rented labor is applied in the manner of the haut bourgeoisie, with both being significant to their interaction with the economy (distinguishing them from workers with incidental capital holdings or capitalists who incidentally have a “paid job” which they could take or leave without meaningfully impacting their lifestyle or overall engagement in the economy.)

Re: David Lynch LA House

#128
post #27

Earlier quoted context omitted.

I mean looking at the structures it's kind of warranted. https://en.m.wikipedia.org/wiki/Textile_block_house

its more that it just shows a vast ignorance of history and society to call it a 'Minecraft house.' It's like calling the Pyramids of Giza 'the Minecraft pyramids." It belays a level of stupidity that is difficult to ignore. The reality is its an Incan Pyramid inspired home.

I'm sure that a lot of the people you're describing as "stupid" here would love to know about the true inspiration behind the building style. Maybe this is an opportunity to share information, rather than to lament the uncultured brutishness of the masses?

Re: David Lynch LA House

#129
post #64

Earlier quoted context omitted.

It’s funny, but as someone who’s worked in music production, when you say that what comes to my mind is that the vast majority of people in the entertainment industry are nowhere near as wealthy as David Lynch. “Hollywood standards” to me is several struggling actors sharing a flat.

Lots of people who are paid well are not at all wealthy, because they spend nearly all their income, and sometimes forget to pay taxes. See Will Smith.

I'm skeptical that entertainment industry workers are thousands of times more irresponsible that their peers in other industries. (Those who consume a lot of political media demonizing the "liberal Hollywood elite" may disagree.)

Care to speculate on how many struggling actors sharing flats are fallen celebrities?

The Will Smiths of Hollywood are a tiny fraction of a tiny fraction.

The phenomenon at play in “Hollywood standards” poorly reflecting the totality of the Hollywood population are winner-take-all income/attention distribution and cultivation of an illusion of opulence to satisfy audience demand — not licentiousness and depravity amongst entertainment industry personnel.

Re: David Lynch LA House

#130

Earlier quoted context omitted.

Wealthy people don't spend their own cash.

Wealthy people do not hoard cash, unlike what many people imagine. Their money is all invested. They also borrow money to invest. Anyone who gets a mortgage on a house is also investing other peoples' money. Using a credit card is spending other peoples' money. Buying a car on time is spending other peoples' money.

Let say you are given 1 million dollars. You decided to buy a new home. Do you pay in cash or get a mortgage?

When I ask people this question most will respond with pay in cash so you don't lose money paying a mortgage. The real answer it exploit loop holes in the laws with your gain financial position.

1) Open a trust with the money. 2) Use that trust for banking and make it your mortgage lender. 3) Gain tax deductions for having a mortgage and put tax dollars in your own pocket just by shifting money around in a legal creative accounting method.

The wealthy use loop holes that can be exploited only with money to maximize the hoarding.

How does one accumulate wealth with hoarding it?

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