9 things the rich don't want you to know

[herbivor]

^joshh , since you have the conservative perspective, I'm curious of what you think of the numbers themselves. How do you explain the fact that since Reagonomics started and supply side economic theory has been the mantra for 30 years, the wealth gap has increased substantially. I would be curious if it isn't because of the tax imbalance, what would you say is the cause?
I'm in the top 5% and I think it's sad how few taxes I had to pay this year knowing just a little more would have saved thousands of teachers jobs, kept our local libraries open, and saved thousands of other jobs. So what do I do with my extra money? I save it, invest it, or splurge a little on something the Asians or Germans made. I think I'm pretty typical of others in that category. I'm not sure lowering my taxes would benefit the poor working class that much.

[bme30]

[KenC]

My parents are considered to be 'rich' in a lot of circles and there is a reason they can continue making money in a shitty economy. They work for it.

They do not have loans on anything. It is really hard to get ahead when you are handing 30% of a payment to your bank. Neither have ever financed a car or carried a balance on a credit card.

If you want to save money, it costs something else. Live in a cheap little house, drive a honda that doesn't break down, and work 60 hours a week. Take that and invest in something (tools, property, business), and keep working your ass off. 10 years later you could afford to buy a new 7 series.

That's not the "rich" the article is referring to. Look at the payscales in the article... 8-figure yearly income.

[Wiglaf]

... They work for it. ...

Your parents and the top .5% of earners are practically on different planets. We're talking about the people who could disappear for months, not even answer the phone, and oh hey there's another billion in stock returns. Thanks, peons!

"Hard work" to them is figuring out how much money to gamble, making an obscene stack of money even larger just for lack of something better to do. Must be tough. Oh crap, another decision, Brazilian ass model or Swedish gymnastics athlete? Oh n/m this pocket change can get them both at the same time. You there, get those ladies to my room for me. Thanks chap.

[gwb72tii]

Your parents and the top .5% of earners are practically on different planets. We're talking about the people who could disappear for months, not even answer the phone, and oh hey there's another billion in stock returns. Thanks, peons!

"Hard work" to them is figuring out how much money to gamble, making an obscene stack of money even larger just for lack of something better to do. Must be tough. Oh crap, another decision, Brazilian ass model or Swedish gymnastics athlete? Oh n/m this pocket change can get them both at the same time. You there, get those ladies to my room for me. Thanks chap.

this complete utter nonsense and reeks of envy
sure, there are those, like the kennedy's, that are born into wealth and may do as you suggest, ball another babe and then drive off a bridge
most millionaires are invisible. they're your neighbor who owned a machine shop for 40yrs, worked and saved and invested, didn't own a new car and now have $2MM in their pension plan. these are the evil rich.
its so much bullshit

you want to reform the tax code?
make everyone pay something
get rid of loopholes
simplify it
the fact is 50% pay no income tax. that sir is bullshit. everyone should pay their way

[KenC]

this complete utter nonsense and reeks of envy
sure, there are those, like the kennedy's, that are born into wealth and may do as you suggest, ball another babe and then drive off a bridge
most millionaires are invisible. they're your neighbor who owned a machine shop for 40yrs, worked and saved and invested, didn't own a new car and now have $2MM in their pension plan. these are the evil rich.
its so much bullshit

you want to reform the tax code?
make everyone pay something
get rid of loopholes
simplify it
the fact is 50% pay no income tax. that sir is bullshit. everyone should pay their way

The article highlights the top 0.5-1%, not common millionaires. I say "kudos" to those who have worked hard and earned it.

[mrsleeve]

Dont have time right at the moment, but will read latter tonight and make an appropriate response

Just form reading the comments in here I think this thing is going to be dripping with hate the rich and we deserve to take it form them propaganda bull shit. I suspect the article leaves out many key socioeconomic points, to make its arguments work.

[herbivor]

Dont have time right at the moment, but will read latter tonight and make an appropriate response

Just form reading the comments in here I think this thing is going to be dripping with hate the rich and we deserve to take it form them propaganda bull shit. I suspect the article leaves out many key socioeconomic points, to make its arguments work.

Yes, please, after reading the entire article, and looking at the numbers, please enlighten us at the socioeconomic points that you speak of. I would like to know what they are specifically and how they have quantitatively effected the wealth gap.

[joshh]

^joshh , since you have the conservative perspective, I'm curious of what you think of the numbers themselves. How do you explain the fact that since Reagonomics started and supply side economic theory has been the mantra for 30 years, the wealth gap has increased substantially. I would be curious if it isn't because of the tax imbalance, what would you say is the cause?
I'm in the top 5% and I think it's sad how few taxes I had to pay this year knowing just a little more would have saved thousands of teachers jobs, kept our local libraries open, and saved thousands of other jobs. So what do I do with my extra money? I save it, invest it, or splurge a little on something the Asians or Germans made. I think I'm pretty typical of others in that category. I'm not sure lowering my taxes would benefit the poor working class that much.

I didn't say lower your taxes. Corporate taxes. Why do large corporations make deals with cities to bring jobs to their city, most of the time it's tax breaks. If you have a company come in at a very low tax yet you employ 1000 people, you are now bringing in tax revenue you weren't before the company moved in. Those employees are now paying taxes they previously weren't.

You don't get to pick where your money goes. Portland is getting a bond for well over 500 Million dollars to renovate all it's schools. Eight of those schools are getting 370 million of those dollars. Why are we sinking money into school buildings when Multnomah, Clackamas and other counties are closing schools? And our schools are failing? Yet Portland is dumping money into the rail and 200 million into fucking bike paths. It's not the amount of money these politicians are getting. It's the promises they have to hold to those who put them in office. And what they spend our money on. It's insanity.

Props 65 & 66 were a tax on the "rich". Anyone making over 250k a year. They did it to save the schools. They pulled in 2/3rds of what they thought they were going to get. Yet schools are still closing and teachers are being cut. We also have one of the worst unemployment rates in the country. Surprising....not one bit.

I don't think the numbers are off. I think the cause is off. You can find just about any number from any President and make a case about what they did and what happened at the time. But it all matters what was happening at the time around the economy. That's where it gets complicated.

The numbers show the middle class and the "poor" are hurting more than ever. I'm not doubting that. Part of that is that Government is now paying people to be poor and vote for them. It shows in how much we pay out in Social Services. And that's why both sides are total pussies about not really tackling the real issue. I give Ryan credit for at least staring a discussion even if his plan is far from optimal.

The real issue is jobs. If the middle class and more poor people had jobs we wouldn't have the problem we now have. That single mom who has two kids, why isn't she working? In this economy it's mostly because politicians have made it hard for companies to stay in business. The other reason is that mom doesn't need to work because she has enablers. People willing to pay her way because they have a soft spot for her kids. Make her work! Then look at her situation and find out from there how much money she needs and help her out a bit. But it will make it more efficient and fair. If they are on drugs they get ZERO money. They are only able to eat healthy foods.

What are our major problems?

Politicians paying back those that bought them. Lobbying....
Two wars and another engagement we are wasting money on now.
Not focusing on jobs.
Two parties who can't agree to hardly anything anymore which is pulling the country down.
Handing out "free" shit to anyone that's "poor". Making the productive pay for those who could be and should be working. I'm not referring to anyone who can't actually support themselves.
Our own kids aren't important anymore.

[z31maniac]

the fact is 50% pay no income tax. that sir is bullshit. everyone should pay their way

Did you read the article? Explains what a small part of total revenue this is.

[ck_taft325is]

Kind of makes you want to GTFO and work in a country that values it's workers instead of just saying it does.

Hahaha... where is the entrance to this mystical places? ;)

[joshh]

Did you read the article? Explains what a small part of total revenue this is.

Yes but then how many of these people wouldn't need Social Services?

[LBJefferies]

All this crap about the wealth gap is exactly that...crap. Wealth is not fixed. The rich do not take from the poor.

Put this in your pipe and smoke it. http://www.youtube.com/watch?v=KkXI-MNSb8Q

God, I love economics.

[mrsleeve]

^^^^^^^^^^^^^^^^^^^^^^^^^

HOLY FUCK h0lmes posts something form a conservative view point and from the fire wall and Bill Whittel (sp)no less


Wow I am impressed

veggie guy still formulating my response, all though I am surprised by the content of your link.

[LBJefferies]

^^^^^^^^^^^^^^^^^^^^^^^^^

HOLY FUCK h0lmes posts something form a conservative view point and from the fire wall no less


Wow I am impressed

veggie guy still formulating my response, all though I am surprised by the content of your link.

I post a lot of stuff from a conservative viewpoint, and every time you act surprised.