Page 2 of 7 FirstFirst 1234 ... LastLast
Results 11 to 20 of 66

Thread: Millionaires shrug off the downturn

  1. #11
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:00 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,700

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by lpast View Post
    Another myth most people are RICH because they were born into it and they very very few that make it from scratch deserve credit and its VERY FEW...the rich start out the privledged class then tell us all how they broke their ass.....more bs. Aside from that I dont want to take "THEIR" money I want the teaparty to stop taking mine while whining how bad they have it...
    massive fail. Stop making excuses. Most people who have a million or more in assets come from parents who did not.

  2. #12
    warrior of the wetlands
    TurtleDude's Avatar
    Join Date
    Oct 2005
    Location
    Ohio
    Last Seen
    Today @ 02:00 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    180,700

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by lpast View Post
    Turtle stop the bs please...you and cpwill took the same course on Rich and corporate whining. No where did I say make the rich pay more taxes...I said STOP THE TAX CUT BULL**** and make them pay their fair share...This teaparty crew want to take from the middleclass and give to the rich....
    Your SILLY Cheerleading for the richs are whats pathetic, you spout the same crap over and over hoping someone is going to believe you...NO ONE HERE DOES except for Mr V and Cpwill all 3 of you took the same cheerleading course.
    You can whine scream lie try and create doubt all you want, the facts show you are dead wrong,,,...and mark this statement down....the teaparty in the end is going to fail miserably
    another massive fail. HOw is cutting taxes and spending across the board taking from a group that pays artificially low taxes and gives it to the group that carries lots of the tax burden for people like you?

  3. #13
    Sage

    Join Date
    Sep 2007
    Last Seen
    09-24-17 @ 04:38 AM
    Lean
    Undisclosed
    Posts
    29,261

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by TurtleDude View Post
    massive fail. Stop making excuses. Most people who have a million or more in assets come from parents who did not.

    I got a buddy of mine who one day realized he was am millionaire. He is like "whoaaa I'm a millionaire." About a year later he was like "bummer I'm not a millionaire anymore." His assets were rental houses.

  4. #14
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by TurtleDude View Post
    massive fail. Stop making excuses. Most people who have a million or more in assets come from parents who did not.
    Nonesense...more of your madeup statistics ....and thats besides the point the point is...that people like you want the middleclass to pay more than you...you want to strip from them everything you can and give it to the rich...and btw for your info..

  5. #15
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Millionaires shrug off the downturn

    The point of this thread is undeniable...the rich are doing BETTER and the poor and middleclass are taking the hits during this recession....the rich are getting richer the poor and middleclass getting poorer and the teaparty wants to the middleclass to pay more and the rich and corporations to pay less...

    You can spin dance on your head do the boogaloo and the facts are still the facts....rich getting richer, middleclass getting poorer....YOU DONT NEED MORE TAX CUTS

  6. #16
    Educating the Ignorant
    zimmer's Avatar
    Join Date
    Dec 2008
    Last Seen
    Yesterday @ 05:18 PM
    Lean
    Conservative
    Posts
    14,452
    Blog Entries
    12

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by lpast View Post
    Millionaires across the world are now richer than they were before the financial crisis, the latest sign that the wealthy have weathered the downturn far better than other groups.

    Awww lets give them another tax cut and stick it to the middleclass workers more...its only fair right ???


    FT.com / Global Economy - Millionaires shrug off the downturn
    What should you have learned from this?

    1. Trying to stick it to the wealthy does not work. They have their experts to assist them hiding, investing and moving their money.

    2. Despite all the government intrusion to stimulate the economy, the economy has gone from bad to worse. Millionaires haven't been hit, as noted in the article.

    Moral of the story: By trying to screw the wealthy, you only end up hurting the folks down the line. You hurt them with fewer employment opportunities for less money, and you make it more difficult for upward mobility.

    JFK knew this well. Too bad the Socialists that took over the party and their hangers-on haven't learned it as well. But... that would not serve their purposes.

    .
    Last edited by zimmer; 06-23-11 at 02:04 PM.
    The Clintons are what happens...
    when you have NO MORAL COMPASS.

  7. #17
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by Objective Voice View Post
    There's a difference between millionaire "profits" and millionaire "earnings". Those rich individuals whose income comes through "profits" do so based on the success or failure of their business venture(s). Those rich individuals whose income comes through "earnings" do so based on their investments. It's really a tax code issue based moreso on which revenue stream "income" is derived from. But I digress...

    Short-selling has become the norm on Wall Street during this economic downturn. I don't begruge them; I just wish I could have gotten into the game when I had the chance. But other more important matters took priority.

    The way I see it there are very few wealthy individuals who truly care about the plight of those beneath them. We've continued to hear the argument from Conservatives making the claim the if you don't tax the wealthy too much let alone at all, they'll use their wealth to start, grow or expand their businesses and in so doing that wealth dispersment will trickle-down to everything and everyone else. Manufacturing will stay in America, consumer goods and services will remain affordable, and incomes for the working class will stay at or near "cost-of-living" especially if unions are kept out of the way. But what has happened over the last 3-8 years?

    Labor union membership has dwindled. Manufacturing jobs have left this country in record numbers; a few have begun to come back, but not enough of them are doing so fast enough. Incomes have remained flat while the cost of living has drastically increased, i.e., gas, groceries, clothing, various routine services, health care, prescription medicines. Working-class individuals have either lost their jobs or are barely hanging on. And those who still have jobs are having to do more with less. Yet, I keep hearing this mixed message coming from Republican leaders.

    We have a $14 trillion deficit, we need to reduce government spending, we're going to leave a legacy of debt to our children and grandchildren, many jobs that left are never coming back, if we raise taxes we kill jobs. That last part makes me laugh!!

    THERE ARE NO JOBS OUT THERE TO KILL! So, whether you raise taxes or not it's not going to matter! But what WILL matter is we need to rethink, refocus, retool, reinvest in our country and STOP sending these messages of DOOM AND GLOOM at every turn. STOP being so obstructionist and start finding common sense solutions to our nation's economic problems.

    I understand the call to cut spending. It is the responsible thing to do when you're in debt. BUT...

    I also understand that old attage: "It takes money to make money!" To that, our representatives in Congress at all levels need to do a much better job of trying to find ways to lift this country out of its economic down-turn. Otherwise, we just may find ourselves in the exact same position as Greece and several other Middle-Eastern countries. I think investing in new technology is the smart thing to do. No, it won't turn things around immediately, but it should put our country on a better footing to put today's technological breakthroughs in play in the near future. I also believe some tax cuts are in order that will stimulate job growth. However, I also believe some taxes will have to be raised if we are to pay down our national debt. Currently, we're focused strictly on paying the interest on the debt, but just as with a home loan if you don't start paying down the priciple, you'll never clear the debt fast enough. As such, what Republicans are calling for is a smoke screen - don't raise taxes because the government already raises enough revenue (via income tax collection and other investments, i.e., T-Bills/bonds) to make our interest payment on the debt.

    INTEREST payment...not the priciple on the debt, just the interest we owe. Meaning the debt will remain relatively high. When I hear that we should "live within our means," I apply that concept to my own household and I quickly realize that there are but two ways to pay-off my debts (if any; fortunately, I have very little debt to worry about): a) make a budget and stick to it until my debts are paid in full; or b) find another revenue source (i.e., get a 2nd-job delivering pizzas if I have to) and use the additional income and apply it toward my debts. What we're really hearing from Republicans is Option #1 - make a budget, stick to it, pay down the debt over time. This tells me that Republicans really aren't that concerned about paying off our debt; they only care about balancing our budget - bring spending down to levels equal to or below what we as a nation take in in revenue. It is the right thing to do, but staying with such an approach will mean we can't do anything else.

    We won't be able to invest in anything and our best investment is and always shall be "our people". This is the #1 thing that drives me crazy about stauch Republicans and even these so-called Blue-Dog (or Reagan) Democrats. They go out of their way to protect the few fat cats among us when so many Americans are hurting in so many ways. The class of people who can help turn this country around and are very eager to do so, IMHO, are being ignored, tuned out, left to fend for themselves. It's the same fight from the 1930's being played out before us all over again.

    Sorry about the rant, but I just don't think one side of the political divide is being honest w/the American people. If folks would only learn to filter out the white noise and learn about the issues themselves and stop listening to the talking heads and the pundits this country would be so much more better off. The political games truly have to .

    Very good post....you can tell just by reading political forums that teaparty type far right conservatives could give a chit less about anyone beneath them....ive been hearing from the rich all my life that taxing them less means more for the working class...well, the rich pay FAR LESS today then they have in the past and we have the highest unemployment in my lifetime. Its a big lie that just keeps getting repeated by the people that stand to benefit from it. As the richs taxs went down here in the usa...actually their tax have been halved...they pay half now of the highpoint 70% and the teaparty wants to cut that another 28% to 25% ...all the while taking huge givebacks from working class public employees and wanting to destroy medicare and attack social security....all the things that MIDDLECLASS and poor depend on...lol....talk about class warfare the teaparty are the worst of the worst.

  8. #18
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Yesterday @ 08:57 PM
    Gender
    Lean
    Conservative
    Posts
    57,115

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by lpast View Post
    Another myth most people are RICH because they were born into it and they very very few that make it from scratch deserve credit and its VERY FEW...the rich start out the privledged class then tell us all how they broke their ass.....more bs.
    actually 85% of Millionaires are first-generation and self-made. And yes, they got their by busting their butt.

    Turtle stop the bs please...you and cpwill took the same course on Rich and corporate whining. No where did I say make the rich pay more taxes...I said STOP THE TAX CUT BULL**** and make them pay their fair share...
    Actually they already pay more than their fair share. 6 out of 10 American households now absorb more in government services than they pay for. So, in fact, they are paying their fair share, they are paying our fair share, and then they are giving us an extra little slice off the top.

    Quote Originally Posted by ObjectiveVoice
    THERE ARE NO JOBS OUT THERE TO KILL!
    my uncle is one of the millionaires that lpast thinks are evil. doesn't have a college degree. started off living in a trailer. worked himself half to death building up a contracting business, ended up providing jobs for 100 other people. currently he is taxed at 40% because his business income is his income. He's already burned through savings in this recession trying to keep everything afloat - finally he had to let people go. His business now operates on a direct-impact basis. You raise his taxes any more, and the next day he has to walk in and fire more people in order to keep the business in the black. Ditto for cap-n-tax.

  9. #19
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Yesterday @ 08:57 PM
    Gender
    Lean
    Conservative
    Posts
    57,115

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by lpast View Post
    Very good post....you can tell just by reading political forums that teaparty type far right conservatives could give a chit less about anyone beneath them....ive been hearing from the rich all my life that taxing them less means more for the working class...well, the rich pay FAR LESS today then they have in the past
    this is incorrect. the rich pay a larger share of taxes now than they have for decades, and the US has found itself in possession of the most progressive income tax structure of any industrialized nation.

    and we have the highest unemployment in my lifetime. Its a big lie that just keeps getting repeated by the people that stand to benefit from it. As the richs taxs went down here in the usa...actually their tax have been halved...they pay half now of the highpoint 70% and the teaparty wants to cut that another 28% to 25%
    still selling that you don't understand the difference between nominal and effective tax rates, eh?

  10. #20
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Yesterday @ 08:57 PM
    Gender
    Lean
    Conservative
    Posts
    57,115

    Re: Millionaires shrug off the downturn

    Quote Originally Posted by TurtleDude View Post
    another massive fail. HOw is cutting taxes and spending across the board taking from a group that pays artificially low taxes and gives it to the group that carries lots of the tax burden for people like you?

    because your money rightfully belongs to him.

    Quote Originally Posted by the 10th Commandment
    "Thou shalt not covet thy neighbour's house, thou shalt not covet thy neighbour's wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor any thing that [is] thy neighbour's, unless that neighbor is richer than you, in which case F Him'
    that's how it goes, right?
    Last edited by cpwill; 06-26-11 at 11:35 AM.

Page 2 of 7 FirstFirst 1234 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •