Ep. 16 Tax The Rich, Sike! – a Millionaire

Neekolul tax the rich

Episode Summary

In this episode :  

We talk about shaming Rich people inside of a $2 million dollar apartment.  

Are Millennials losing and broker than the Baby Boomers and Gen Zer’s ?  

Floyd Mayweather v. Logan Paul, did you watch? and is this the new norm for combat sports?  

This week on Things I wish I knew when I was 17, perseverance and the importance of delayed gratification.  

Please share, like on YouTube, leave a review, if you enjoy the show, support me by lending me a BMW if you Believe in My Work. Thank you in advance for listening and enjoying the content.  

Tax The Rich, Sike! – a Millionaire (Episode 16) Karat Juice Podcast
Tax The Rich, Sike! – a Millionaire (Episode 16) Karat Juice Podcast




https://www.cbssports.com/boxing/news/floyd-mayweather-vs-logan-paul-fight-results-takeaways-boxing-is-just-fine-despite-a-most-likely-outcome/ — This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app — Send in a voice message: https://anchor.fm/karatjuicepod/message

Podcast Transcript:

Montay Lee 0:41
Welcome, welcome. Welcome to another episode of Karat Juice. I am your host Montay Lee, and thank you for taking the time sitting down and listen to this program. So before we get started with this episode, I wanted to do a little bit of housekeeping. So, if you don’t already know, I’m a car guy, I enjoy vehicles a lot. So if you haven’t done so already, why don’t you just go ahead, lend me a BMW. You can do it right now. And guess what? It’s actually free. So what’s the BMW special? Well, if you enjoy the content, you believe in my work, and support the channel by sharing it with your friends and family, like in the video and subscribe to the show, you can lend me a BMW special. Any support that you have, I would greatly appreciate I will give you a minute to do that right now. Alright, thanks. Thank you. And we can move on just my level a little bit. All right. So the first topic that I wanted to get into today had to do with an article that I recently saw about a very popular tick talker. So all you people who are a little bit older, if you haven’t heard about tick tock. It’s a place where a lot of young people go and dance. I don’t know what it’s all about. I don’t understand why it’s so popular. But that’s pretty much the gist of it. Okay, so the article that I saw was posted by the New York Post on June 7. So that’s today. I’m recording this on Monday. So the article indicates Bernie Sanders AOC supporter roasted for $2 million dollar apartment after tax the rich post. So apparently, a social media influencer. I swear I hear that a lot right now. Everybody is an influencer of some some kind. What does that even mean? Who are you trying to influence? Am I a social media influencer? do I influence you to want to have tacos? do I influence you to get fit? do I influence you to watch Marvel TV shows? Check out the X Men shirt. Shout out to the Marvel stuff podcast. Go check those guys out. If you haven’t done that already. I checked out a couple of the episodes. Who doesn’t love Marvel content. So check those guys out. Love coming over from Karat Juice, check out the Marvel stuff podcast if you haven’t done so already. And let’s get back into it. So, like I was saying, going on with this article? Oh, no, I’m kind of going off on a tangent. But I understand social media. And I understand that it has a purpose in our world and that it has done a lot of good but it’s also been a detriment to us as well. I feel like a lot of the young people in today’s day and age are using it to get validation in a way that at least my generation wasn’t on like we weren’t worried about all of that. We weren’t worried about what can I say about it? I’m I’m from an age where before social media before it really got very popular and there was a time that you had to go out into the world and you had to prove yourself you had to actually win and succeed at things to get that validation and at the end of the day, that is a good thing. Having instant gratification all the time isn’t so, but I digress. Let’s move on with the article. So a social media influencer known for supporting progressive progressive lawmakers, Senator Bernie Sanders and Representative Alexandria Ocasio Cortes. Wow. That’s a tongue twister.

AOC is what she’s called. In urging her followers to tax the rich is getting roasted online after showing off her swanky new $2 million apartment and it is nice. I’m gonna link this article in the description so you guys can go check out this lady’s pad. So the social media influencer in question, her name is Nicole Sanchez. And she is known online as Nico Lowe. And she became an internet sensation last March with a tick tock video of her dancing to an okay Bohmer tune while wearing a blue Bernie Sanders t shirt. Okay, I don’t even know what okay Boomer is. And I didn’t research to go check out the video either because it’s Tik Tok. And I’m grown. I don’t have time to watch tic TOCs. Sorry. And I have a tic tock and I barely I’m on there. Just to be honest, like I don’t understand it. There’s nothing but like teens dancing on it’s not a place for somebody that’s 32 I’m just going to put that there. So yeah, I don’t spend a lot of time on tick tock. And if you’re grown, you probably shouldn’t either. So moving on. The clip caught the eyes of at least 50 million viewers, and quickly turned the 23 year old into a social media force. So Sanchez went viral again this March when she recreated the ok Boomer dance while wearing a tax the rich sweatshirt made by AOC and her campaign, which is sold on the congresswoman’s official online store for $58. Doll hairs. Okay. So what does this all mean? It was really all about. So me personally, I love when hypocrisy gets called out when it’s on display. And clearly in this instance, it is on display here. So this young lady was wearing a tax the rich sweatshirt recently, and come to find out she just bought a $2 million apartment in Dallas. I mean props to you, I want you to be successful, I want you to do great things. I have no issues with you. Having that place. I mean, it’s your money. It’s America. It’s Murca. Right. But where I push back against this is you’re repping something that’s about taxing the rich, when in all honesty. You are one of those people and then when she got asked about it she kind of backtracked a bit. And we’ll get into that further in the article here. So the article goes on to say that many viewers were quick to blast her as a hypocrite pointed out that her newfound wealth doesn’t jive with her support of AOC s campaign or Sanders, who are both known for their progressive agendas. So one critic Act actually stated I thought you were a Bernie supporter. And also said tax the rich distribute the wealth, everyone lives equally. So somebody also went on to say they’re always always socialists, until it’s their money and not someone else’s. So I’m gonna put this out here, I am not a socialist. I understand capitalism. I do not want this country to become a socialist country. I believe in accountability. I believe in a merit base. Society, I believe you should get what you put into. From the work that you put out, you should get back. So I believe in people getting wealth and see Access and succeeding are based on their merit. I believe in that fully. And I do not want this place to become a socialist country.

So, someone also noted that the apparent online flex wasn’t the only time Sanchez appear to flaunt her wealth, noting a photo she posted in Leh may in late May show her splaying atop a pricey BMW. She got a new BMW two. Okay. All right, let me let me see, okay. Oh, yeah, she has a post on Twitter says beamer girl and she’s wearing like some like Sailor Moon outfit. Okay, the beamer looks nice, too. Like I said, I have nothing against this young lady making money. But don’t try to mooch off of the tax the rich campaign. When on the other end, you’re doing well, you’re well T. And you’re saying other things that are contradictory to that, and support and things that are contradictory. I feel like you’re kind of trying to boast, trying to play both sides of the field. And it doesn’t work like that. So another thing, another fan state is brought to you by capitalism, a frustrated fan. So the article goes on to talk more about this girl, and I really don’t care that much about the rest of this. I had another article here that I wanted to get into that kind of talks a little bit more about this. I saw one of her quotes, where she was grilled about the tax the rich comment, and then she actually backtracked and said in so many words, she was talking about the super wealthy, like the billionaires with a B, when she was referring to tax the rich and I just don’t agree with that. If you’re a millionaire, in this country, you’re wealthy. And I feel like no, I think that displaying a tax the rich sweatshirt when you’re close to or if not already there, because you just bought a $2 million apartment is a bit this disingenuous. I mean, we weren’t born yesterday. And I think there’s better ways to put across your branding or whatever I mean, do whatever you’re gonna do, Nico, lol, or whatever your name is, and we’ll keep it moving there. I just kind of wanted to harp on that. I love when hypocrisy shows up. I just like to call it out whenever I can. Because more so than anything in today’s day and age, people try to play to both sides of the fence. And to me, that’s just not cool. All right. So we’ve reached our first we finished our first topic pardon, and we’re going to move on before we do we have a message from the sponsor, and then we’ll get right back to it.

Okay, all right. Okay. All right. So next, before we get started with the next topic, I’m going to take a sip of some of my own juice. And Topic number two. I don’t know if you know. I don’t know if you know, but apparently, according to fatherly calm. I saw another article where it indicated where it states Why 40 year old Millennials are so much broker than their parents. Yes, this means you and technically I am a millennial, a millennial, because I’m 32. So the article goes on to state. If you are turning 40 This year, by some metrics, you are actually the oldest kind of millennial. Really, if you’re reading this, you’re you’re probably already aware that millennials are doing much worse financially than many other age groups. But you did know that also includes those of us about to enter a middle age. So millennials can’t catch a break. I mean, I’ve been here through the and I’m not kidding. But I’m just stating the facts. I’ve been here through the technology, boom. Okay, all of these tech jobs and everything coming up. While that was happening, I was in college getting an education or just graduating high school. Okay? Then 2008, like, right? When I was it was time for me to go to college. Because I graduate oh seven, the housing market plummets. Alright. And then we finally recover from that. graduate from college doing well with work, everything like that. Then the pandemic hits. So it’s like, we have been through a lot as millennials when you think about it, and alright, I’ll just go on read article because it’s gonna explain more, but there is some truth here. So a new analysis from Bloomberg reveals that millennials are doing worse financially than Boomers and Gen Z years, in almost every way measurable. How are we doing worse than Jen’s ears? How is that even making any sense at all? They’re on Snapchat, Instagram. There, they’re they’re investing in cryptocurrency, come on millennials, we need to do better than this. And that includes people who are 40 years old. But why you ask? So if you already haven’t guessed, the primary culprit is student debt. A greater share of millennials habit doubled that of Gen Z ears at the same age, and they have more of it an average of 19,000 instead of 12,800. These debts follow people around for years. Trust me, I know, of course, limiting how much they can save and delaying major expensive life decisions, like having a kid buying a home, yada, yada, yada. Hmm. So you could make a snarky case about why millennials are borrowing more, all those $6 lattes, things like that. But the dramatically higher cost of a college education. As well as housing is a simple explanation for more student debt. So this is what we already knew. You’re with me if you are a millennial. But I am someone that’s all about taking responsibility. And we can get through it, we just need to be more mindful and tactful in our approach and how we handle things moving forward. And making decisions. I believe that a lot of us just had a false sense of what college really meant, and what it looks like. If I could go back and think it all over, I probably would have done some more research before going to college, on what career field is going to have the most growth in the next 10 years. What’s the stability of the careers? How much is it going to cost to get that degree? And what does it pay?

You will be surprised by how many people I talked to just in day in day life walking around that. I asked him what they do or what they’re doing or what they went to school for. And they’re not doing that at all. And I asked them, Okay, why did you go to school for that? Or why aren’t you working there? And they would say, Well, I’m not working there because it doesn’t pay enough or there’s not enough open positions. And I’m thinking in my mind, nobody told you or you never looked into how much the position would pay on average, or if there will be any available positions. And a lot of them would say, Well, I never thought of that. I was just thinking about getting the education and I was told you need to get an education you need to go to school is pushed by the culture pushed by your parents pushed by other people in high school, and then the college and admissions and so forth, and you never really think about that. And now you got this 40,000 or $50,000 of student debt and you are not using that at all. What sense does that make at all in this country? That doesn’t make any sense to me, and I feel like that’s happening, happening more and more in today’s day and age. And as a collective. We need to do a better job of only going to get these degrees. If it makes sense. I am going to push so much more. And I’ve been saying this to my own family members to anybody that will listen. If you’re a young person and you don’t have a set path right now on what you want to do. I will help encourage you to think about trades. Think about becoming an apprentice to be a plumber. Think about doing what you can do to see if you could work as an electrician, the gas and oil industry. Ah back, you know, home heating and cooling. I mean, it’s hot as crap right now, here in Michigan. So if you didn’t have AC, I mean, that’s like it’s close. That’s almost better than water right now. So it’s a need for think about things that are going to have a need no matter what. Because if you’re somebody that does heating and cooling in somewhere like Vegas, or California, or Arizona, you’re needed, no matter what people ain’t going without cooling right now. So you got to think about that think beyond just now. Okay. Let’s go on with the article. And it’s not as though simply 4g for going College in order to forego student loans is a better option. According to this article. I would disagree with that. But let’s see what they say Millennials with at least a bachelor’s degree will earn 113% more than what they would have with only a high school diploma nearly twice the 57% gap in the boomer generation. In other words, college has become more essential and more expensive. So it does help you to earn more money, but you have more debt, it didn’t go into the trades I was talking about. So keep those in mind. So the article goes on to say it talks more about student debt, but also said and then there’s housing, the median home price in 1989, the year the first boomers turned 40 was 216,000. Today, it’s 328,000. A nearly 52% increase in the same span wages rose by just 20%. That’s a big problem. And I agree with that. So according to Bloomberg, the basic way that middle American households build wealth is through their homes. And that’s according to rich, richer fry, a senior researcher at the Pew Research Center. So millennials have been less likely to be homeowners, fewer of them begun the process of building home equity due to that student debt. Okay. So we’re kind of behind as, as far as that, but we still can catch up, I just think we need to be more mindful and practical, practical, with our application in our choices moving forward. Okay. So the article goes on to recap, that going to college unlock strategy, dramatically higher earning potential, but it’s so expensive that it requires taking out large loans that handicap what you can do with those earnings, hence, buy a house. Okay. And that’s the chief in the major way that Americans have built wealth over time. So a synopsis of all it is, is if you’re not going to college for something that’s going to earn a good amount of money, that’s going to make the degree worth it. Consider different options. A trade is what I would tell you. So I like to give some Common Sense, some commentary, but also like to give some nuggets of truth.

I would like to hopefully impart some wisdom on people who might not have that much guidance. So I want this to be a place where you can learn some things along the way. And so I thought that was important because that’s relevant right now to what we’re going on and what we have going on. In the world right now, I mean, a lot of things are uncertain. And yeah, we got to figure this stuff out. So moving on, let me get my beverage, replenish myself, and then we’ll get to the next topic.

Yes. Okay. So the next topic that I wanted to get into, I wanted to talk about this fight. So over the weekend, we had Floyd Mayweather versus Logan Paul. Do any of you guys watch that? Did any of you guys pay for that? I’ll tell you, I didn’t. I like Floy. He’s from my hometown. I respect him. He’s one of the best boxers ever. But I don’t want to watch any more exhibitions, I’m sorry. from social media influencers, I don’t want to watch any more exhibition. Floyd Mayweather is the greatest boxer of all time, arguably for some people, but for me, he’s the greatest boxer of all time. He has no business In this boxing a YouTuber Logan Paul, are we serious? I mean, it’s just a joke, honestly. So let’s see here the article this is a coordinate TMC. The article goes on to say that Logan Paul came out swinging but in the end, Floyd Mayweather is just too good. Who couldn’t have foreseen that? Floyd Mayweather is really good. He’s just gonna duck and dodge the whole time because he’s Floyd Mayweather. I mean, you can’t touch them. professional boxers spend a whole career 20 years trying to touch the zoo, nobody could hit him. And we think that Logan Paul would do they got big on Vine is gonna have something to do with it. I understand what they did. And it makes a lot of business sense as far as making money, but it’s starting to be a mockery of the sport of boxing. Honestly, I know like boxers right now are like really, these YouTubers are coming into our space to make money now, because the real problem with this whole situation to me is the boxing promoters. People for the longest time, have wanted to get big time fighters. And there’s so much you know, him winning, hauling, and ducking and dodging between the different not even fighters, the different promotion teams because the promoters don’t want their prize fighter to go and fight against somebody that could possibly beat them. So you see all of these fighters fighting these inferior opponents. And every once in a while you’ll get a mega fight. And the mega fight happens like maybe once every two years or something insane like that. So I think that’s what’s made the sport of boxing dole, like me, personally, I love Boxing, boxing is one of my favorite sports. If there’s a big time fight, there’s nothing like a big time fight in two major heavyweight fighters duking it out, blow by blow, because there’s something about fighting to where when it’s two guys fighting, every punch that’s being thrown, every hook, every uppercut, you’re glued to your screen, I’m literally glued to the screen, because at any moment it only takes one punch in his lights out. And there’s a beauty to the sweet science of boxing. That’s unlike any other sport. And I missed those big times fight because I love the sport. So I hope that boxing makes a comeback is basically what I’m trying to say. And I hope that big time fighters get to fight each other in the promoters get out of the way. And go into the background where they belong. Because at the end of the day boxing and prize fighting in sports like that are supposed to be about the fighters. It’s not supposed to be about different promoters. We shouldn’t even know who the promoters are because the fighter should be forefront and I feel like the promoters are more successful and famous and then some of the fighters now and that’s not how it should be. So, before we wrap up the show with the last topic, we have one more message from the sponsor, and we’ll be right back

okay, and we’re back. Alright, so I want to finish this show with one of our recurring segments. And on this week on things that I wish I knew when I was 17 I want to start with a quote. Obsessed is just a word, the lazy use to describe the dedicated rustle worn so that quote might seem a little pretentious. But there are a few things worth considering. But before making that judgment, so passionate people are often called obsessed or crazy. They do what they do because they love what they do. For them happiness comes from doing the work, not from being able to relax afterwards. Lazy people or any mediocre person for that matter, fall into the habit of calling these passionate people obsessed, or crazy as an excuse, this post is just a shout out to the people who are passionate about their work. Keep on doing what you do, and don’t let anyone discourage you to do what you love to do. I thoroughly enjoyed that. And I enjoy work, I have always enjoyed work. And it’s not just like going and clocking into work, I mean, actual physical labor, I appreciate it, and I enjoy it. And there’s something about seeing your work, and seeing the progress you make over time. Even if you’re not good at it, right? Right off the bat, it’s about working the muscles is about working the skill in whatever you’re doing. If it’s gardening, then after a while of doing it multiple times you get better at gardening. If it’s cooking, you’re going to burn some crap up a couple of times. But before you know it, you’re going to know how through trial and error, how to prepare that dish the right way, how to change the temperature, okay? Change the way you flip that piece of meat or that ingredient or whatever you are preparing in a way, that’s going to be better than the last time you did it. And then you’re going to teach that I feel like you truly master something when you can teach someone else. I feel like that’s when I finally really mastered a skill, when I can teach somebody else to make that dish that I love to make. That’s when I know that I’ve mastered. So I have another thing that I want to share with you that kind of coincides with this. And then I’ll talk about and then we’ll wrap up the show.

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