^ if you have a few million dollars by the time your 60 because of wise investment the chances of you feeling any impact from raised taxes for the rich is minimal. I have no problem with people working hard to make their money within modest means (100,000-200,000 a year). Its when they make over 30 million dollars a year and buy boats and houses and then drive their cars through fences is when i get upset.

10/10/2006 11:00:49 PM

Quote :

"Bill Gates"

Bill Gates is from a wealthy family. Where do you think the initial start u for his company came from. His parents were and are independently wealthy of Bill.


Also, look at the class you were born into. The odds are by the time you die you will be in the same class.

10/10/2006 11:09:20 PM

my parents lived in a singlewide trailer until just before i was born, when they moved into their first house. my dad was a barber and my mom quit her job as a secretary to raise me. neither of them spent a single day in college. mom's dad was a mechanic; dad's dad was a farmer and greyhound bus driver.



but yes...rich parents teach their kids how to be financially successful. poor parents don't know shit about it, and it's not covered at all in schools (which is a travesty that I've already discussed).

[Edited on October 10, 2006 at 11:14 PM. Reason : asdfasfd]

10/10/2006 11:13:31 PM

Quote :

" but yes...rich parents teach their kids how to be financially successful. poor parents don't know shit about it, and it's not covered at all in schools (which is a travesty that I've already discussed)."

If you think that is the end all of it then you are mistaken.

10/10/2006 11:25:56 PM

Quote :

"Furthermore, when money is invested it is not taxed. It's only taxed when you sell your investments."

Other than a 401(k), invested income is what is left over after tax.

Quote :

"Its when they make over 30 million dollars a year and buy boats and houses and then drive their cars through fences is when i get upset."

Why? How does that hurt you?

10/10/2006 11:39:07 PM

Quote :

"Why? How does that hurt you?"

help your fellow man.

10/10/2006 11:53:58 PM

arguably, they're doing more for the economy by buying boats and houses and driving cars through fences than they would by putting it in the bank.

10/10/2006 11:59:26 PM

but at the same time they are hurting the economy by allowing for the increase in the wealth divide.

10/11/2006 12:02:09 AM

i just want money to buy really awesome good food and expensive beer.

thats all i want.............................!!!!!!!!!!!!!!!!!!!!!!!

10/11/2006 12:07:10 AM

Quote :

"^dude, i know someone who makes about $250,000 who pays SIX FIGURES in taxes and alimony."

I would just like to point out that I'd love to be making the kind of salary that requires SIX FIGURES in taxes.

10/11/2006 7:41:35 AM

Quote :

""^dude, i know someone who makes about $250,000 who pays SIX FIGURES in taxes and alimony"

HA

10/11/2006 10:36:34 AM

why they trust ANY politicians is beyond me

10/11/2006 10:49:20 AM

i only trust the kind that wants to have sex with kids

10/11/2006 11:02:51 AM

i trust the ones that arent all about the money

which is none of them

10/11/2006 11:03:34 AM

when I get elected--or at least early in my career, I hope to be in a position to either decline my salary (if that's an option) or donate it all to charity

as well as vote against pay increases

10/11/2006 8:01:35 PM

anyone here about the way Arizona and I think Maine and soon California run their political campaigns. I cant really explain it but all tax payer funded so that its not run by private intrests of the rich and big business.

i gotta read up on it.

[Edited on October 11, 2006 at 8:28 PM. Reason : and im watching the Bush speech about NK and he is retarded]

10/11/2006 8:27:54 PM

Quote :

"The vast majority of people who are rich are rich because they were born into wealth. The fact of the matter is that the classes are distinctly defined with little to no movement between the two. "

Are you at all aware that this is completely untrue?

10/11/2006 8:55:58 PM

are you serious!!!!!!

my dad was born into a middle class family and now he makes around 110,000 a year.

he just interviewed with the VP of a company which deals with about 10 billion dollars a year in profits and he said he could not even comprihend how this guy thought and did his job. There is no way my dad will ever reach this point in life and he is a trained nuclear engineer/computer scientist/mathmatician.

it is evident that the class you're born in is the class you will die in. There is luck invovled with upward mobility and shitty luck involved with downward movement. I dont see how you can disagree with this.

10/11/2006 9:01:37 PM

Quote :

"it is evident that the class you're born in is the class you will die in."

obviously there are examples of people in both cases

people born rich that die rich...born poor that die poor

and people born poor and get rich...and people born rich that lose it all

if you say people are bound to their birth class how do you explain people like Master P or Mark Cuban? Self made (b)millionaires

They may be the exceptions, but I always try to look at them in the sense of "gosh, they made it...maybe if I bust my ass and work hard I can get rich too"

10/11/2006 9:04:10 PM

^ this is a great mentality everone should have but if everyone was P Diddy then... its not possible.

some people need to be poor, others need to be middle class, and others need to be rich. Its the way the world works, i just feel that some load can be lifted off the lower classes to make their lives alittle easier. The richest .01% can give up a few million to help out a cupple million people.

10/11/2006 9:07:08 PM

those that believe in that system are doomed to be a victim of it.

10/11/2006 9:10:15 PM

I can not believe in gravity but I will forever be a victim of it.

also I dont want to have millions of dollars, theres no point in believing it it because I have no need for it.

10/11/2006 9:11:58 PM

Quote :

"A 1992 Treasury Department study showed that between 1979 and 1988, 86 percent of those in the bottom income quintile moved to a higher quintile, and 35 percent in the top income quintile moved to a lower quintile. 2 "

Quote :

"A 1995 Federal Reserve Bank of Dallas report showed that almost three-fourths of those in the bottom quintile in 1975 were in a higher quintile by 1991, and almost 40 percent in the top quintile moved down to a lower quintile over the same period. 3 "

Quote :

"A 1996 Urban Institute study showed that large numbers of Americans move into a new income quintile, with estimates ranging from 25 percent to 40 percent in a single year. The same study found even higher mobility rates over longer periods: about 45 percent over five years and 60 percent over 9-year and 17-year periods. 4 "

Quote :

"A 2000 Economic Policy Institute study showed that almost 60 percent of Americans in the lowest income quintile in 1969 were in a higher quintile in 1996, and over 61 percent in the highest income quintile had moved down into a lower income quintile during the same period. 6 "

http://www.heritage.org/Research/Taxes/BG1418.cfm
Attack the data, not the foundation.


Income mobility is ripe in this country. Thomas Sowell elocuted best in Basic Economics. Poverty is largely a function of age. Sure, there are some that will be born poor and will die poor. Likewise for the rich. But the majority of Americans will move from their born income bracket in one direction or the other.


fin

10/11/2006 9:37:17 PM

[Edited on October 11, 2006 at 10:16 PM. Reason : 6]

10/11/2006 10:16:04 PM