article: Millionnaires Go Missing

[Sandybestdog]

Quote from Kevmeister:

Actually, when you signed the credit card application it stated that they are allowed to do this. So you agreed they could raise the interest rate whenever they chose to.

So I don't see what the problem is.

Ah, I see what the problem is. Instead of paying off your credit card each month and not being at the mercy of the cc company, you maintain a balance and complain when they raise the interest rate on you that you agreed to when you signed on the dotted line.

Is that it?

See this is exactly what I’m talking about. Lower and middle income people follow the rules, then get shafted by the rich and then people like you go around and are happy about it. You call that capitalism at its finest. Then, you sit at home and can’t figure out why people vote Democrat. Does that seem even a little messed up to you?

I took out a loan to start a business. You know, something people have been doing for thousands of years? I followed the rules and they decided I was a perfect candidate for them to fleece for more money. So they jacked my rate to 24% for no reason other than they can. Have you ever read those contracts? If anybody can actually understand them, you’ll probably find out that they are entitled to take your first born if they so choose. But there is something that trumps any legal contract out there, it’s called common human decency. Something that doesn’t seem to be so common in the business world today. I wish they could find away to do that to your mortgage or student loans. You’re entire minimum payment would just go to interest and you would never pay it off. Then they would own you.

So now, Chase isn’t getting a dime from me. I’m going to wait till it goes to collections and offer a lump sum payment. Did they really expect to be able to screw me like that and there would be no repercussions? Call me a deadbeat, see if I care. You can go ahead and pay King George your tea tax, but I won’t.

BTW I’m still waiting for your reply to this post over here.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2456968#post2456968

 

[Free Thinker]

Quote from TGregg:

Learn? Learn what?

This isn't about more revenue. This is about "fairness". Obama himself said this during the election in a debate. The moderator pointed out a few times when the capital gains tax was raised and less money came in, then a few other times it was lowered and more money came in, then asked why in the world Obama would want to raise taxes. Obama said it wasn't about more revenue, but about "fairness".

]

you have something against basic fairness?

 

[Sandybestdog]

Quote from spinn:

Sandy you are too worried about the lowest paying jobs out there.

The bottom line is, cleaning a house is a $10 an hour job and nobody is going to pay any more than that.

You will only be paid the absolute minimum someone can hire you for, that is just business.

You could learn Lotus Notes programming for a few thousand dollars and get a job making $40k in six months or so .........or you could continue to obsess on why people dont pay house cleaners $75 an hour.

That’s exactly what I was saying all along!?

 

[Sandybestdog]

Quote from TGregg:

Learn? Learn what?

This isn't about more revenue. This is about "fairness". Obama himself said this during the election in a debate. The moderator pointed out a few times when the capital gains tax was raised and less money came in, then a few other times it was lowered and more money came in, then asked why in the world Obama would want to raise taxes. Obama said it wasn't about more revenue, but about "fairness".

While more money for the government is a good thing to these people, the real goal is to punish the rich. They don't care if it hurts the economy, costs jobs, runs up the federal debt and generally makes life miserable for all - as long as they get even with the rich.

No the point is, how come we never ask how the rich got rich in the first place? If they screwed people to get rich and didn’t really produce products that bring value to an economy, I would contend that to tax them wouldn’t be redistribution, it would be re-redistribution. When the rich take from the poor, we don’t call that redistribution of the wealth. So how come when the poor take from the rich we do call that redistribution?

I have never understood the simple logic of saying tax revenues actually go up when taxes go down. How can that be possible? The only way I see that happening is at the same time there is a vast increasing of the money supply. That would cause inflation, which would be a defacto tax on the poor and middle class anyways. Didn’t Bush prove your logic wrong? Huge tax cuts with the added benefit of deficit spending did not improve our economy. GM jobs are being replaced by Wal-Mart jobs and the Federal debt has doubled in the past 8 years. With the tax cuts, deficit spending, and the inflation of the past 8 years, our economy should be booming, but it’s not.

 

[nutmeg]

Somebody who works for a mechanic who charges $90 an hour, but gets paid $15, can’t just tell his friends that he’ll fix their cars in his garage for $70 an hour. Nobody would pay that much for a service that doesn’t come with the business guarantees that the mechanic offers.
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I beg to differ on your comment.

If the difference between 15 you get paid and the 90 the garge charges, $90 is your monetary target, if you decide to open your own business.

People will pay pretty close to the higher rates if you offer value. and it can be done. I've done it and on the flip side I've paid higher rates to independents for better service.

Ditto on the cleaning business. People will pay the going corporate rate to an independent just to have peace of mind they trust the independent and have the same people in their business or home each week or whatever.

 

[Scataphagos]

Quote from Sandybestdog:

"... When the rich take from the poor, we don’t call that redistribution of the wealth.

"rich take from the poor"... a current Obama, Socialist, Liberal catch-phrase... yet I can't think of a single example.

Please post a couple so that I can be clear that this saying is something other than pure BS.

 

[nutmeg]

I have never understood the simple logic of saying tax revenues actually go up when taxes go down. How can that be possible?
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On this point, No disrespect intended but you need to research and answer this one on your own to understand this.

The work and the path it would take you to understand this would be more beneficial than having someone explain it to you, which would just be Cliff notes. Seriously.

 

[Sandybestdog]

Quote from nutmeg:
I beg to differ on your comment.

If the difference between 15 you get paid and the 90 the garge charges, $90 is your monetary target, if you decide to open your own business.

People will pay pretty close to the higher rates if you offer value. and it can be done. I've done it and on the flip side I've paid higher rates to independents for better service.

Ditto on the cleaning business. People will pay the going corporate rate to an independent just to have peace of mind they trust the independent and have the same people in their business or home each week or whatever.

OK, that’s true. But doing everything here we are talking about doesn’t really make you an independent, it makes you a business owner. The original poster made it out like anybody can just be an independent and go start cleaning houses for $25 an hour. I think we can all agree that that is not true. Somebody can however, start their own business, put the initial capital into it, find clients, pay the overhead and then get better pay assuming everything works out. Of course if business gets slow, they get paid nothing. That’s the risk and requirement when opening a business.

 

[Sandybestdog]

Quote from nutmeg:
On this point, No disrespect intended but you need to research and answer this one on your own to understand this.

The work and the path it would take you to understand this would be more beneficial than having someone explain it to you, which would just be Cliff notes. Seriously.

Typical ET response. Someone asks a simple question and everybody writes it off and comes up with some crappy response that tries to delegitimize the question based on who’s asking it.

It’s a simple question. If taxes go down, how can revenues go up if the money supply stays the same?

Reagan cut taxes, revenues went up. But there was this little thing called massive inflation throughout the 80’s that sort of helped that theory. Clinton raised taxes, but yet the economy in the 90’s was very good. It seems all the tech millionaires weren’t deterred from working by higher taxes. Then Bush cut taxes and the economy goes in the crapper and now less revenue is being created. Bush also tried to pump the money supply, but it’s not working. So I don’t see the correlation? I’m sure however that you will write this off as some idiot not knowing what he’s talking about instead of just explaining how revenues can go up when taxes are cut if the money supply does not increase. Please, I’m all ears.

 

[Sandybestdog]

Quote from Scataphagos:

"rich take from the poor"... a current Obama, Socialist, Liberal catch-phrase... yet I can't think of a single example.

Please post a couple so that I can be clear that this saying is something other than pure BS.

Well the most obvious one is inflation. It is a defacto tax on the poor that benefits the rich. Banks lend money out of thin air, which increases let’s say house prices. So then people can’t afford to buy houses. So they have to get an even bigger mortgage, which of course the banks make more interest off of. What about $146 oil prices? We all know that was a scam. How many people last summer had to chose between eating and filling up their car with $4.25 gas? What about all the people who work for company’s who are continuously raising their prices, but somehow the employees never seem to get a raise? Rich employers take advantage of tight labor markets to not give their employees raises. I used to deliver pizza. What the store gave the drivers for mileage was nowhere near enough the actual cost of driving the car. So I had to pay for it out of the sub minimum wage that they paid me. They don’t care, they’ll just hire the next guy who is desperate for work. What about employers insourcing cheap foreign labor and then don’t hire Americans? People’s health insurance is increasing 15% a year. That’s not the rich taking from the poor? Then of course there are the banks tripling credit card interest rates on people with perfect payment history. 25% interest rates is not the rich screwing the poor?

You shouldn’t have asked me to give real life examples because unlike most people around here, I actually give them.