9 things the rich don't want you to know

[tonywonder]

i love our country.

and the rich.

they give me a career.

and possibility to laugh at all those who will complain of my future wealth and family fortune.

all those will cry in envy.

[herbivor]

^^^^^^^^^^
And that my friend is socialism and or communism

I do not think any "ism" in its purest form works. Every developed country is a hybrid of one of the" isms". I also do not measure success and happiness based off of GDP. A higher GDP helps, but there are other factors that make the people of a country happy. The countries that are considered "welfare states" Sweden, Finland, and Denmark have the highest taxes, over 50%, yet their citizens on an average are happier than the U.S.. because they have a government that works, supports their people, and is trusted by their people. The following article is a list of the top 10 happiest countries. We come in 17th. Denmark is 1st. Explain that.

[joshh]

Joshh you are a fucking retard.

I love having fans like you, Kronus and Corvallis. Just shows I'm on the right track.

[evandael]

this is all just funny to me. Knowing what the system is, go out and start your own business! Work your way up so you can take advantage of the system. Reap the benefits of hard work and dedication!

For those that just sit and bitch, expect to stay where you are!

Your logic is flawed. The laws are written to benefit mega-corporations (by way of their lobbyist's influence), not the common man with drive and a good business model. That will garner you success, but not wealth in the over-Americanized sense (ie, just money).

The system will take advantage of you. The taxman will always get his way, unless you are in the upper-echelon of income (either corporate or personal), and can pay a squad of lawyers to help you exploit all the loopholes.

My father runs his own manufacturing facility and has done so for nearly two decades. It was his fathers company, and it now employs 20+ real, working Americans. You know, the backbone of the economy, as many of you would like to believe. This year, after 2 fiscal years of post-meltdown struggling, business finally rebounded. He's hiring more people, he's getting more contracts. He eclipsed all previous pre-tax yearly profit records. Know what he got in return? A six-figure bill from the IRS. Yet the mega-corporations get money back from the government. Know why? They write the laws, and when they can't they cheat the laws.

This nation is so damned ass-backwards in it's priorities. We protect the mega-wealthy at the expense of the common man. Only the shallow promise of wealth is what I imagine what sedates the average 9-to-5'er into voting for the short-sighted tax-slashing and benefit-reduction path that is leading this country straight to the soup kitchens.

If there are any left after the deficit hawks get to them.

[kronus]

I love having fans like you, Kronus and Corvallis. Just shows I'm on the right track.

aw hey buddy ;)

[750]

-Anyone can write up some bs to show a given point leaving most of the facts out note this->

http://www.wweek.com/portland/article-17350-9_things_the_rich_dont_want_you_to_know_about_taxes.html

[joshh]

Your logic is flawed. The laws are written to benefit mega-corporations (by way of their lobbyist's influence), not the common man with drive and a good business model. That will garner you success, but not wealth in the over-Americanized sense (ie, just money).

The system will take advantage of you. The taxman will always get his way, unless you are in the upper-echelon of income (either corporate or personal), and can pay a squad of lawyers to help you exploit all the loopholes.

My father runs his own manufacturing facility and has done so for nearly two decades. It was his fathers company, and it now employs 20+ real, working Americans. You know, the backbone of the economy, as many of you would like to believe. This year, after 2 fiscal years of post-meltdown struggling, business finally rebounded. He's hiring more people, he's getting more contracts. He eclipsed all previous pre-tax yearly profit records. Know what he got in return? A six-figure bill from the IRS. Yet the mega-corporations get money back from the government. Know why? They write the laws, and when they can't they cheat the laws.

This nation is so damned ass-backwards in it's priorities. We protect the mega-wealthy at the expense of the common man. Only the shallow promise of wealth is what I imagine what sedates the average 9-to-5'er into voting for the short-sighted tax-slashing and benefit-reduction path that is leading this country straight to the soup kitchens.

If there are any left after the deficit hawks get to them.

Actually you are both correct in your own ways. You can go out and make good money from starting a business. Even a small business. Except you get killed as a small business man because of the way the Government has you run circles around the moon to to become a small business and the way they tax you. And insurance is heavy bullshit. But regardless you are going to do better as a small business man than you are if you were to work for someone else in that same chosen industry.
And where you're correct is there is a threshold that allows the rich (or once you finally get there) to sit back and gain benefits the "common" man can't. Making it easier to stay rich. And the lobbying you have spot on. The exact reason I want lobbying to be illegal. And that politicians only be able to use the publicly funded campaign system. Politicians should run on their record alone. Not based on how much money they can get from lobbying.

[mrsleeve]

Actually you are both correct in your own ways. You can go out and make good money from starting a business. Even a small business. Except you get killed as a small business man because of the way the Government has you run circles around the moon to to become a small business and the way they tax you. And insurance is heavy bullshit. But regardless you are going to do better as a small business man than you are if you were to work for someone else in that same chosen industry.
And where you're correct is there is a threshold that allows the rich (or once you finally get there) to sit back and gain benefits the "common" man can't. Making it easier to stay rich. And the lobbying you have spot on. The exact reason I want lobbying to be illegal. And that politicians only be able to use the publicly funded campaign system. Politicians should run on their record alone. Not based on how much money they can get from lobbying.

You have beaten me to the punch on this one.

[CorvallisBMW]

I heard about this Duke University study the other day, very interesting stuff. They surveyed over 5500 people from 47 states, asking them what they currently thought the US income distribution levels were like, and how they would like them to be.

-First off, nearly every respondent greatly underestimated the levels of income inequality.

-Second, 92% of respondents, when shown pie charts of US income distribution and Swedish income distribution, said they preferred the to see the US look more like Sweden. Interestingly enough, the numbers were almost identical between self-identified Republicans (91%) and self-identified Democrats (93%)

It just goes to show you how fucked up things really are, and how blind most people are too it. For all of you saying "America is the greatest and everyone has equal opportunity and we shouldn't change a thing", I hope this proves just how small (8%) of the ridiculously out-of-touch-with-reality minority you are in.

You can argue theory and beliefs all you want, but hard numbers and facts don't lie. The original article is backed up 100% by real data, as is this study. If anyone can provide some real data to show otherwise instead of brushing it all off because they disagree with the facts, I'd love to see it.

Read the study here:
http://www.people.hbs.edu/mnorton/no...in%20press.pdf

[z31maniac]

You can argue theory and beliefs all you want, but hard numbers and facts don't lie. The original article is backed up 100% by real data, as is this study. If anyone can provide some real data to show otherwise instead of brushing it all off because they disagree with the facts, I'd love to see it.

This.

Real wages have gone down, that is irrefutable.

[evandael]

sleeve and joshh, don't get me wrong, i'd much prefer to be my own employee than work for someone else.


but i'm not disillusioned that it will make me any more wealthy. it's likely it will make me poorer. 100K as a hardworking small business owner makes you liable to more taxation than 100K as a worthless corporate insurance salesman.

[CorvallisBMW]

Article from our local news station:

"The Internal Revenue Service tracks the tax returns with the 400 highest adjusted gross incomes each year. The average income on those returns in 2007, the latest year for IRS data, was nearly $345 million. Their average federal income tax rate was 17 percent, down from 26 percent in 1992. The top income tax rate is actually 35 percent, so how can people who make so much pay so little in taxes? The nation's tax laws are packed with breaks for people at every income level. There are breaks for having children, paying a mortgage, going to college, and even for paying other taxes. Plus, the top rate on capital gains is only 15 percent."

http://www.katu.com/news/business/120004959.html

Small business owners pay federal income taxes, perhaps up to 35%. Yet giant companies like GE with 500 accountants get away with paying zero. THAT is what the original article is about.

[mrsleeve]

sleeve and joshh, don't get me wrong, i'd much prefer to be my own employee than work for someone else.


but i'm not disillusioned that it will make me any more wealthy. it's likely it will make me poorer. 100K as a hardworking small business owner makes you liable to more taxation than 100K as a worthless corporate insurance salesman.

Dude, NO big RISK NO BIG REWARD just how its. I am very content with my wages and work for someone else. I dont feel the need to take the risk, as the risk of losing all I have worked for does not appeal to me. At some point I may but only when I feel I am reasonable secure in all other matters and that if I flop on my face it will not cost me everything. But then I am cautious like that as are most other people.

Corvalis: while the original article may be based in real facts it makes WAY TOO MANY if = then conclusions with out taking into account of other external forces. It just assuming taxation is the only variable. It takes no account for market bubbles poping, airplanes hitting buildings, small wars abroad, High and spiking oil prices, GOVT MEDDLING IN THE SYSTEM. All things that people who invest and run businesses take into consideration when they are about to expand or how to move the business forward and keep from going under.

Unless all those things are taken brought into the equation then the article is nothing more than a let wing hate the rich take their money from them propaganda tool full of "real numbers and data" used to fool the stupid and those of mediocre intelligence, into this same line of thinking.

Now all that said, I never said leave shit the way it is. I full agree there needs to be a Reformation of the tax code. Loop holes need to be closed so outfits like GE are paying that is wrong and I dont condone that activity. But it needs to be something a bit more simple, something much lower on the paper than the 35% we have now and something like that will attract business here to the USA and GROW OUR ECONOMY and create MORE taxable income for all involved thus raise the tax revenue in general . Same for income taxes a Fair or Flat (I really like the fair tax) tax that EVERYONE PAYS of 10-12% with NO IRS and SSI/FICA taxes, and no deductions other than yourself and dependents (much deductions than they are now) and Charity. Even those poor people on the govt doll must pay the same rate.

[evandael]

GOVT MEDDLING IN THE SYSTEM

this (unnecessarily capitalized) statement perplexes me. i cannot see how a completely unrestrained economy could be considered a system. advocating the lack of laws, guidelines, regulations, tax brackets, and, ultimately, government, is advocating economic anarchy.


what century do you live in? i think you would be better served in the age of the 19th century industrial megamonopoly. you know, the same era as sweatshops, the triangle co. fire disaster, 10c/day wages, minimal taxation, and no distribution of wealth. an era without GOVT MEDDLING IN THE SYSTEM.


the biggest problem is the disconnect between we the people and they the government. the government does not listen to, does not care for, and is not comprised of representatives of the majority. instead we are blinded by ideology, which is funded by the minority. fundamentally, though, we are the government, and starving the government is starving the people. no resources for the government, no resources for us. the government falls, we fall.


but hey, this is america. tough break, kid! better luck in your next lifetime. oh wait, thats far too cosmopolitan of an idea, ya stinky commie lib.

[dirtysix]

this (unnecessarily capitalized) statement perplexes me. i cannot see how a completely unrestrained economy could be considered a system. advocating the lack of laws, guidelines, regulations, tax brackets, and, ultimately, government, is advocating economic anarchy.


what century do you live in? i think you would be better served in the age of the 19th century industrial megamonopoly. you know, the same era as sweatshops, the triangle co. fire disaster, 10c/day wages, minimal taxation, and no distribution of wealth. an era without GOVT MEDDLING IN THE SYSTEM.


the biggest problem is the disconnect between we the people and they the government. the government does not listen to, does not care for, and is not comprised of representatives of the majority. instead we are blinded by ideology, which is funded by the minority. fundamentally, though, we are the government, and starving the government is starving the people. no resources for the government, no resources for us. the government falls, we fall.


but hey, this is america. tough break, kid! better luck in your next lifetime. oh wait, thats far too cosmopolitan of an idea, ya stinky commie lib.

Bravo sir.
Governments are elected by the people for the people.
Not faceless corporations/business interests or even minority social agenda groups.

Democracy.