Does Ownership Of Anything Actually Exist?

in LeoFinance2 months ago

Hey Js

The game of being a human revolves around ownership! We’re born into this world, taught skills and then we’re encouraged to sell those skills to others for the sake of money! Once we acquire money, we use this to go ahead to acquire other things!

  • It could be things you need to survive like food, water, clothing and a home!

  • It could be things that make your life easier like a smartphone, car and a washing machine.

  • It could be assets you use to generate future income, this could be something simple like a set of tools, or more complex like stocks and other paper assets

The fact is the game is one of “ownership”! We see it all the time, people flaunting their riches, what they’ve bought, it makes up the vast majority of social media content, things like we can own or consume.

But I’ve been wondering with so much focus on ownership:

  • Is all ownership equal?
  • Do we actually own anything?
  • And who actually owns us?

ownership.png

Property

I think this is one of the most popular ways to saddle people with life long debt, the property ladder! We all need a place to live; it’s unavoidable.

As property continues to increase in terms of fiat pricing, it makes it harder to acquire. The rise in asset prices means you need to take out larger loans for longer time periods.

Some people can pay it off within their lifetime, but there’s a growing trend that sees people never pay off their home even when they retire or die.

So do you actually own your home?

To me, the definition of ownership is a bearer asset! Once you take ownership, it should be final should not have any obligations when you own it. This is not the case with the property; you still need to pay tax on it each year for owning the property.

Seems like an obligation to me, so it doesn’t fit my definition of ownership.

Consumption

I can’t speak for all countries, but many have VAT or value-added tax on purchases. If you want to consume anything that we humans survive, we have to pay tax on it! Yes your right to eat, drink and clothe yourself is a taxable event.

Want to be self-sufficient and have livestock that you consume, so you don’t have to rely on stores and other value chains? Well, tough titties, you own something of value, we need a piece of that too.

Labour

To be part of modern society, you need to trade your labour in the market, also known as getting a job. The more you work, the more you earn, the more you earn, the more tax you need to pay.

Productivity

So you have an idea that can benefit society, you want to start a business, create jobs, provide goods and services that benefit your community.

That’s all good and well, but if you are going to do that, you have to pay tax on it. Depending on your business or country, you pay income tax, import tax, VAT, employee tax, capital gains tax and more.

Trying to be self-sustainable and contribute to society means you need to be taxed! You’re effectively punished for trying to aid society.

Assets

You want to take your spare purchasing power and put it into Income generation or wealth preservation tools because your government inflates their currency to hell? Well if you’re going to be responsible with your money and not just consume it, that’s right we need to get part of that upside.

You took the risk; you did the research, you helped grow businesses with your funding, creating jobs and goods and services.

Thanks for all you’ve done that we couldn’t so pay us a piece of that.

Serfs of the state

If you can’t consume, sleep, work, invest, contribute or own anything without there being an obligation to it, that doesn’t scream freedom to me, that sounds like serfdom.

We’ve allowed the state to become too big, too influential, too ingrained in what we do as a society. There is now to unwind it, there are too many people who rely on it growing, and it will continue to grow until it implodes.

You might think you “own” things, but you are the thing being “owned”.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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You have made a very interesting post. Thank you. Our world has become very material, people in the pursuit of material goods do not have time to stop and enjoy the spiritual. No one knows how long a person is given to live, so we need to appreciate every minute, every moment. I wish you all the best of luck!

Absolutely, I hope we do find our way back from this money-centric world and find a new balance eventually. I am pretty sick of it as it is already, I just want to be able to live and not have to deal with all this admin

Death by a thousand taxes! Is there a way to opt out? Move to a different country where they are more lenient? Setting up a business that is forever borrowing and in debt might be the way from what I've heard from other folks on Leo

I looked at the loan option, if you're doing a crypto loan, it's a bit dicey since you have to overcollateralise, so you can only take half the value out as a loan and with an the high repayment terms I don't see it making sense for me.

setting up a small business makes sense, but you'll need to actually generate some cash flow. I know in Portugal if you do that you're still liable for business tax of 21%, lol yes I did check! Still not the worst idea, since it simplifies the whole prices.

Lol, what's the taxation like on Mars? Hope they're a pretty chilled out there 😀

LOL No wonder BTC holders always talk about going to the moon, I guess the tax breaks there are pretty favourable. I'll pay for my own air, but not tax

very interesting, let's see what comes around

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Either way, history is in the making as always

Its looks very odd when we pay even for food which is basic need for everyone...
We have GST instead of VAT in India....

I don't mind paying a fair price for services and food but who determines what's the right tax to put on food and the people it's meant to help! If I tax food to help the poor I make food more expensive!

I would rather see a tax on consumption then a flat tax on food

I think the way landed ownership works in Nigeria is that once but it, you own it forever and unless the government interferes and takes it away it's all yours. But then we die anyways.

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Yeah, but I am sure most people would like to pass that land on to someone in their family or allow their family to get something out of it by selling it or something. I'm not a big land guy really thinking that I need to have a piece of sand to call my own but okay I get the appeal

The appeal is strong in western Africa, I tell you. But then it's obviously different in so many places.

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Changed my home from a Liability to an Asset by building a legal registered suite and renting it out for Passive Income.
I can write off half my property Taxes, maintenance costs, Mortgage Interest costs, repairs and utilities.
I could even hire my Tenant to do yard or Maintenance work and write it off against the Income.
As for Tokenizing my home, I'll take some thought how my descendants feel about it. I can see my Beater of a car could be exchanged for Recycle Tokens if a plan exists. lol! Tokenizing my clothes? I can't see it going that far for my underwear.

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Lol sounds like ALOT of admin and hoops to jump through to make it work, no wonder many people don't bother and rather take the knock. Since you've already set it up that way I guess its easier but just thinking about all it makes me tired. I don't see why the onus is on the citizen to do all this admin just to live and prove ownership of stuff

I am the few who would actually manually fill out my Tax forms. I can see what and where my Government Tax amendments are effecting my finances.
The majority of Tax payers either take their recipients to a Professional Tax Preparer or done by a $50+ Tax Prep software package. And so they don't know where the government is cutting on Deductions sneaked in the last fiscal budget.

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Damn that's some level of commitment to avoid getting screwed over or rather minimize it. I do think they rely on us not caring and just not questioning it and paying!

Absolutely spot on mate.

It seems I'm being auto hidden on this account...MMmmm....lets see..

...It wouldn't be a childish reaction to me pointing out logical fallacies in his MMT theory? Or and his immature outlook in a post concerning age and wisdom?...
Aaaaaaaaaand then illustrates exactly my point that I was making about the childishness (the point of my argument) - by auto hiding my well constructed - if brief- answer!

Is there a word for uber irony? lol

Hilarious!

Cheers to that, !BEER


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We have crypto. Ur lot of govts making it taxable too 😜

Yeah I guess you can self custody crypto, but what does self custody help if we can't use it anywhere lol, they really need to let go, we're not hurting anyone

It's a fascinating topic ownership, especially what you say about property having tax implications. That asset class in particular can be a great burden.

I guess we all need to be careful about feeling too secure by virtue of owning anything, ownership is a social contract which always has rights and duties, all of which can change!

I've always thought having skills and social connections/ friends is an essential part of resilience - just in case your ownership of everything goes tits up.

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I agree the social contract is something we don't think about, and the lines are continuously being redrawn. Maybe we're moving to an ownershipless society, I don't know. Lots of young people won't own cars in the future if self-driving takes off and hyperloops and stuff.

Many aren't able to own homes anymore, short of 100-year mortgages becoming a thing in the west. So not sure how this will all play out, can only speculate

That is a good point, your "brand" and network as an individual is also something you won, if you're a dick people will tell others and no one wants to work with you for example. Not that we can always control the narrative, but I think 1 to 1 relationship we can to an extent.

That reminds me, I kind of got caught out with a printer I bought recently... and HP printer with instant ink - I don't really own the right to print, they do, I have to pay for it on a monthly basis.... it's FINE as it's 6 months free, and I can switch to regular cartridges, but it's kind of bizarre.

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very interesting, let's see what comes around

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Not much else we can do, we Don't get to make the rules

You are your own property.
You own yourself.
The fruits of your labor are your property.(and why legal taxation on it is still theft).

Taxation on labor is the socialist cancer that eats society from within - it must continue to grow (more and more bureaucracies), to sustain - and to justify - it's own existence.
Then it collapses, under it's own corrupted weight.

You will always own yourself.
If you give yourself over to serfdom or debt slavery - that's a personal choice.

One for the twat list? lol