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Old 10-20-2014, 10:16 AM
 
30,444 posts, read 20,747,633 times
Reputation: 52433

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Quote:
Originally Posted by lenniel View Post
Do you have a 401K? Do you own any mutual funds? Do you know that all those companies and people you despise are trying to make you wealthy?

For the most part, the very rich also happen to be very smart and do a good job of managing their money so the govt doesn't get more than their share.
No, I don't believe they give a crap about me, and are just trying to line their own pockets. You think the stock market is set up so everyone has an equal chance with it? I have the same advantages and privy to the same inside knowledge Donald Trump is? Wall Street is on my side? I don't buy it, sorry.

As to your second line, Trump has managed his money very well, partially by declaring bankruptcy multiple times with his AC casinos and totally walking away from what he owed to many private contractors and private businesses in the Jersey shore area, bankrupting some...only Donald gets to keep all his cars and yachts and properties....yeah, we're all treated equally, right.
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Old 10-20-2014, 10:20 AM
 
13,739 posts, read 19,885,751 times
Reputation: 22938
Let's remember Dr. Evil who got laughed at when he stated "I demand the sum of...(pause for dramatic effect)... ONE MILLION DOLLARS!". It's not that much anymore.

Today's 20 year old will need 7 million to retire per this article:

Today
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Old 10-20-2014, 10:21 AM
 
4,015 posts, read 5,352,239 times
Reputation: 3897
Quote:
Originally Posted by ocnjgirl View Post
No, I don't believe they give a crap about me, and are just trying to line their own pockets. You think the stock market is set up so everyone has an equal chance with it? I have the same advantages and privy to the same inside knowledge Donald Trump is? Wall Street is on my side? I don't buy it, sorry.
Yeh, you're right, they don't give a crap about you, me or anyone else. Of course they're trying to line their pockets, just like I am.
But, be that as is may, owning stocks and investing in the market (unless you're a real estate guru and that's where you have your fortunes) is still your best chance at building wealth and financial stability.
Where do you keep your money, a bank savings account?
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Old 10-20-2014, 10:33 AM
 
Location: DFW
6,842 posts, read 12,595,770 times
Reputation: 5264
Most millionaires are retired people.. not because they enjoy having lots of money in the bank or their investments but because 1-2 million is needed to support a bare minimum middle class lifestyle in retirement.. and they didn't know Social Security would still be around in 2014..
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Old 10-20-2014, 10:40 AM
 
Location: Southwest Minneapolis
519 posts, read 641,808 times
Reputation: 1447
The OP is making a very good point here about the hollowness of the class warfare argument. Some of you are helping him make that argument, even if its not your intent.

Because the OP's story doesn't fit the left's comic book character representation of an evil rich person, we have to shift the topic. For example:

"A million dollars isn't really that rich, its people that have ten million dollars that we need to go after."

"Its not nice rich people we need to go after, just the mean ones that make fun of people makings $10/hr."

"It's not rich people that are the problem, its evil corporations run by...?"

"If we just FORCED companies to pay everyone enough for every job so that they can have a house, two cars, smart phones, computers, a vacation in Hawaii, two purebred dogs and designer clothing, than we'll leave the rich people alone!?"

Shifting and distracting aside, the OP is likely to be affected negatively by policies of higher taxation and wealth distribution, despite not living a lavish lifestyle. Its an inconvenient truth that he probably doesn't look like the Monopoly guy and get chauffeured around in a vintage Rolls Royce wearing a monocle while reading about how to destroy poor people.
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Old 10-20-2014, 10:55 AM
 
28,315 posts, read 30,906,238 times
Reputation: 28904
Quote:
Originally Posted by bbnetworking View Post
There are 3 million millionaires in the US. Today's millionaires are overrated. $10 Million net worth should be called the new millionaire, shall we give it a new name?

I think we should call it "Tenillionaire."
I think "decamillionaire" sounds better.
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Old 10-20-2014, 10:56 AM
 
Location: UpstateNY
8,612 posts, read 8,984,004 times
Reputation: 7549
MidwestRedux freakin' GREAT post!!!!!!

Quote:
Originally Posted by mathjak107 View Post
why just yesterday i couldn't spell millionaire and today i is one.
Sorry, mj, had to correct you on that
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Old 10-20-2014, 10:57 AM
 
28,315 posts, read 30,906,238 times
Reputation: 28904
Quote:
Originally Posted by 2e1m5a View Post
Today millionaires are really no better off than the rest of us-you are deluded if you think you are close to the economic and political power of the true 1% that people rally against-people are not talking about you when they say the 1% should pay their share. If anything people that have a couple Million are even bigger pawns to the system than the rest of us as they pay a ridiculous amount in taxes to keep it going for those at the very top and very bottom.

I know people like to think that they are special, but you are most definitely "one in the masses"-and one that pays an absurd amount in taxes.
Not all millionaires pay absurd amounts in taxes. It really depends on how high their earned income is. There are people who have a million or two who earned good, but not fabulous, incomes, so their taxes aren't necessarily in one of the top brackets.
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Old 10-20-2014, 11:04 AM
 
1 posts, read 1,378 times
Reputation: 10
I agree Tenzo. Most Millionaires worked hard, in one form or another, to get their money. Wonder why the Pres wants you folks to pay when he doesn't. In fact did you read about the Pres having his credit card declined and his wife had to pay for it. Seems that he is so rich he doesn't use his card often enough.
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Old 10-20-2014, 12:09 PM
 
2,064 posts, read 3,946,615 times
Reputation: 1459
The President isn't exactly used to paying for things out of his own pocket.

Most "millionaires" aren't actually millionaires if you take away all debts, mortgage on their house, etc.
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