A must watch video, Obama's radical tax plan...

[thesharpone]

Quote from FightTheFuture:

80 percent of Americans worth at least $5 million grew up in middle-class or lesser households
http://www.rd.com/money/work-and-career/best-jobs/secrets-of-successful-entrepreneurs/article.html

ok they grew up in middle-class households and saved up to 5 million dollars and grew to become higher middle class

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"But many modern millionaires live in middle-class neighborhoods, work full-time and shop in discount stores like the rest of us."

what the fuck that is not rich, that is the description of a fucking poor with a few million in the bank account

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"To make it onto the Forbes 400 list of the richest Americans, a mere billionaire no longer makes the cut. This year you needed a net worth of at least $1.3 billion."

exactly my point, now that is rich

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"If more people are getting richer than ever"

dumb ass Kristyn, it's not called getting rich, it's called inflation

 

[FightTheFuture]

Quote from hayman:

2) Reagan - Inherited a pile of shit, and did a great job. Debt
rose considerably, but he had no choice with the state of
economy that he was handed;

Taxes were cut, stimulating and growing the economy as cutting taxes will nearly always do that.

Revenue to the government actually roughly doubled as cutting taxes will do that.

But spending roughly tripled, as the government ALWAYS likes to do.

 

[h hubbins]

"what the fuck that is not rich, that is the description of a fucking poor with a few million in the bank account "

rich is a matter of perspective. most americans are rich by world standards. the UN's definition of poor is $1 per day of income. the living standard of many poor americans, europeans and others in dveloped economies have living standards many in the world can only dream of. that is why there is a long line to get into the u.s.

 

[gnome]

Quote from h hubbins:

"what the fuck that is not rich, that is the description of a fucking poor with a few million in the bank account "

rich is a matter of perspective. most americans are rich by world standards. the UN's definition of poor is $1 per day of income. the living standard of many poor americans, europeans and others in dveloped economies have living standards many in the world can only dream of. that is why there is a long line to get into the u.s.

Yeah, well we're not talking about Obama "taking only from the super rich"... He plans to take from upper middle class too.

 

[Pilotboy]

Quote from FightTheFuture:

Maybe it would do you a lot of good to look up a few sources. And stop making excuses for yourself and others to not achieve success.

I notice you did not comment about the one third of millionaire lottery winners that go bankrupt which proves my point that no matter how much you give, losers will remain losers and apparently want to remain poor, with only dreams of more handouts remaining.

Sorry if I was rude. But I just have to laugh at statistics. Always.

Yes, lottery winnings are easily lost. I never said we should give handouts to anyone, we could give better opportunities though. How about decent education availability for all. I was really just pointing out that all this "freedom" and "opportunity" bull$hit politicians are talking about is just that, BS. Most people born rich stay that way and most born poor stay that way. And it has been this way for a long, long time. Opportunity is still better in the USA than in most other parts of the world, but it sure is disappearing fast.

And yes, the wealthier (or poorer) a person is, the more this applies.

I am not making excuses for anyone, just telling it like it is.

 

[piezoe]

Quote from MKTrader:

And this shows how ignorant you are. These programs are almost a total waste. Schools where kids can barely read get $1 million football fields and rooms full of computers where the kids chat and go to porno sites. Food stamp recipients eat better than upper middle class folk and buy steaks for their dogs (I've seen it). Illegals and those who have never held a job have all the "free" babies and medical care they want. And who pays for all this? !

Obama will most certainly steal from the productive and give to the have-nots-because-they-work-not.

Well you got me there. I'm ankle deep in free babies and doggie steaks, and i'm too damn dumb to figure out how to get out of this predicament. I guess i'll ask the brilliant Ann Coulter what to do with these extra babies. The doggie steaks i can always give away.

 

[Pilotboy]

Quote from gnome:

Is that really important to you?

If you're already rich, then you certainly object to Obama wanting to take yours away and give it to someone else.

If you're not rich, don't look to Obama to do something significant for your financial life.

Figure it out and do something on your own. MILLIONS have already done so, therefore it can't logically be "impossible". You should at least give it a try.

You know brother, if paying 35% of my income is the price to pay to live in this great country of ours and keep it great, I am OK with that. You could easily pay less taxes and move somewhere else, but good luck with your safety, security, and prosperity.

I would never look to any politician to do something for my financial life. I do just fine on my own, never said I didn't and was not complaining.

 

[Champion]

Quote from hayman:

I am a firm believer in that it ALWAYS starts at the top. You get credit for things that go right, and you take the blame for things that go wrong. When it comes to Presidency, there is an inheritance factor - that is, you inherit the pile of shit from the last guy. Let's look at what the last few Presidents inherited, and how they fared:

1) Carter - Turned things to shit

2) Reagan - Inherited a pile of shit, and did a great job. Debt
rose considerably, but he had no choice with the state of
economy that he was handed;

3) Bush Sr. - Inherited a rather well-turned-around admin, and
totally ignored the economy and played his little war game.
Responsible for creating a recession.

4) Clinton - Inherited a pile of shit, and turned around economy,
to one of the all-time economic boons in American History.
Unfortunately, his personal life is how he will be remembered.

5) Bush - Inherited a robust economy, and turned things to total
shit. Internationally and domestically, a total failure.

6) Clinton/Obama/McCain - I feel sorry for the poor asshole in
this bunch, who is inheriting a total pile of turd.

An interesting annotation.
But look at their roles internationally.

Nixon. Brilliant in foreign affairs. Brought the troops home from Vietnam, started detente with China, ended the long standing Israel- Egyption crisis.
Carter. A self righteous clown.
Reagan. A brilliant gamesman. Outsmarted the Russians for good & all; spent them into their collapse so ending the Cold War. Bonded with Britain's Maggie Thatcher and he almost appeared to rule the world.
Bush Snr. Good administration. But failed to use his Gulf victory to immediately expel Saddam Hussein and his family.
Bill Clinton. No grip on economic matters. He has been underestimated in foreign affairs. Kicked the Serbs out of Kosovo through pressure & air campaign but not a ground war with US troops.
Bush Jnr. Had to act in the kick-ass tradition after 9/11 and invade Middle East. Biggest mistake was to abolish the existing Iraqi Army. Should have used it to keep order in Iraq and not do so with US ground forces.
Hillary Clinton as President. Cautious player. There will be no wars with her but also no solution to the trade balance & budget deficits. Hubby Bill will give her good guidance in international politics.

 

[h hubbins]

a couple years ago i was in a discussion on a forum about millionaires and how they got their money. after digging for a while i found the group that was quoted earlier in the money mag. article. then i found money mag archives that pretty much showed that the number of millionaires increases quite a bit more in years that the stock market does well and held fairly steady in other years.

there was another article that said during the reagan years the number of millionaires doubled. the market did too i think.

the conclusion i drew was that a lot of new millionaires are in their peak earning years and have been saving and investing for years. sorry, but i'm not going to spend the time digging all of this up again. you don't have to believe it if you don't want to.

 

[FightTheFuture]

Quote from Pilotboy:

Sorry if I was rude. But I just have to laugh at statistics. Always.

Yes, lottery winnings are easily lost. I never said we should give handouts to anyone, we could give better opportunities though. How about decent education availability for all. I was really just pointing out that all this "freedom" and "opportunity" bull$hit politicians are talking about is just that, BS. Most people born rich stay that way and most born poor stay that way. And it has been this way for a long, long time. Opportunity is still better in the USA than in most other parts of the world, but it sure is disappearing fast.

And yes, the wealthier (or poorer) a person is, the more this applies.

I am not making excuses for anyone, just telling it like it is.

I didn't think you were being rude, I sensed negativism which is all over ET lately and it's bringing me down.

"Most people born rich stay that way and most born poor stay that way". For most people, that is a choice. Wealth can be lost if no self-discipline. Accumulating wealth takes hard work, takes a long time, and mostly self-discipline, that's just too much for most of the younger generations. Easier to play the lottery.


All I ask from the government is to allow me and all others to keep a multitude of choices and opportunities and allow me to attain success without so many restrictions.

If you give the government an inch without complaining, they slowly, by increments, will take a foot and more.

The government is making it harder for people to take care of themselves. Higher capital gains will make it much harder for this crippled wreck to take care of himself. I need to accumulate money, working capital and a lot of it because the market and government can take it away easier than I can make it.