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Mitt Romney. A man whose business has largely involved asset stripping, off shoring jobs and hiding his money in tax havens, meaning ordinary tax payers have to cough up more to compensate. His companies have benefited a very small number of people and hurt a lot more.
I do hate him.
Unfortunately, most wealthy people are on the Romney side of the equation.
Wealth in of itself is not something to hate, only how it is often attained and flaunted.
My guess is that Mitt Romney is the basis for much of this recent "hate the rich" mentality.
Romney's business was to buy failing companies and bring them back to life. He was successful in MOST cases. When a business couldn't be made profitable, it was sold off. That's the smart thing to do when you own a business. I'm a photographer -- have been for years. When I can't make money as a photographer I'll sell my equipment and do something else. That's what Romney was doing. The Democrats and liberal press painted it as something else.
Do you pay more in taxes than you need to? Do you know anyone who does? Years ago I purchased commercial real estate as a way to avoid high taxes. Is that wrong? I was in the 70%+ bracket! (After buying it, Congress changed the tax codes and it became a horrible investment.)
Most of Romney's income is from investments (capital gains), not from earned income. It's taxed differently. That's not his fault. If you don't like it, talk to your U.S. Senator or Congressman.
His companies helped WAY more people than they hurt. You've swallowing the liberal lies hook, line and sinker.
Romney is not the reason you pay high income taxes. High income earners (not necessarily the rich) pay most of the personal income tax in the U.S. If it were not for them, you and I would be paying much more. Next time you talk to a wealthy person, thank him for supporting our government spending programs. It wouldn't be possible without income tax from the wealthy. Without their income tax contributions, there would likely be no Medicaid, no government assisted student loans, no section 8 housing, no food stamp program as we know it -- none of that. It's thanks to the rich.
I respect a Bill Gates or a Steve Jobs, they made their wealth themselves. On the contrary I have no respect for George Bush or Romney, they fell into theirs. But I don't hate them. That would be giving them a measure of respect. There are some like the Japanese billionaire Seiji Tsutsumi who inherited wealth and double or tripled it. Those are people I respect along with the Bill Gates type.
Tsutsumi's private secretary told me the secret to great financial wealth as he saw his boss become one of the wealthiest men in the world. He said the mistake is to think about the MONEY first. He notice his boss was unaware of his wealth or position and it kept increasing because he was interested in the PROCESS by which he accumulated his wealth. Tsutsumi made most of his money in railways, he did not just invest in capital he also actively built the RR's from planning to construction. Incidentally , he is also one of Japan's most respected poets. A keen intellect and a strong cultural background don't hurt either.
His companies helped WAY more people than they hurt. You've swallowing the liberal lies hook, line and sinker.
I'm sorry but that is total nonsense. Bain was an asset stripper, vulture capital pure and simple. And Romney has huge sums in offshore tax havens that, surprise surprise, he didn't want to tell the regular taxpayers (who have no recourse to such arrangements) about.
Just one of many examples of the asset stripping:
Kansas City steel mill:750 workers were fired immediately and the plant was permanently closed. Bain was able to shift $44 million of pension costs to the federal government and the US taxpayer, while Bain realized $12 million on an $8 million investment, and also collecting $4.5 million in consulting fees, according to Reuters.
For hundreds of years the rich in this country were adored. Over the last few decades it seems that people have begun to feel hostile to the idea of rich people in this country. Why is it? Is it socialist ideas taking hold? Do people have a realistic grudge against those who are successful? Or is it something else?
Not so sure there is much to debate here as the answer is pretty simple:
Envy.
Oh and entitlement attitudes.
Some person goes out and works hard, (even celebrities do a lot of work), puts their whole being in to the company, builds it up, becomes wealthy, passes it on to the family who didn't get their parent around because the parent was always gone, building up the business, and now, those who had NOTHING to do with any of the sacrifices act like they are owed a piece of the pie.
They fear and hate that which they do not know and the rich are apparently easy targets. Apparently you should be ashamed to be rich these days. Those who do not have think they know how the rich spend their money and time and lives...but they don't have a clue.
You mean the lady who wanted the bulk of her estate to go to charity when she died? That lack of empathy?
She left her brother 15 million, her chauffer $100,000, her dog got a chunk of change but she probably liked animals more than humans, (who can blame her), which 100,000 went to a full time secretary for the dog, (it's employment), $60,000 annual "guardian" fee, (another job), and two grand kids received 10 million each. (Half in cash, half in trust).
None of that. It's because of glaring examples of abuse that have occurred with certain individuals becoming rich through blatant dishonesty and stealing other people's money. Things like the pyramid scams, Enron, accounting fraud, and so forth. The public has gotten cynical and even just plain fed up with it. That's what the Occupy Protests were about.
There have always been scams and dubious ways people made money, but the difference is the sheer magnitude of recent events.
Most people in this world are either ignorant or down right stupid. They do not look at, and or see the truth or real facts. They take one or two examples and apply them across the board.
MOST rich people are self made. That is a fact. MOST rich people live very frugally. They don't own yacht's and fly first class. MOST rich people are very humble and you wouldn't even know they exist. MOST rich people pay their "fair share" and then some. MOST rich people donate lots of money and time to different charities.
Sure. You have your abuses. I do not deny that. However, the majority of persons that have money and good, honest, working people, who work 70+ hours a week. The MAJORITY of persons who hate rich people and just envious and, moreover, lazy. They don't want to work as much and/or put in their own effort. They would rather just have the government force rich people to give it to them.
Most people in this world are either ignorant or down right stupid. They do not look at, and or see the truth or real facts. They take one or two examples and apply them across the board.
MOST rich people are self made. That is a fact.
Whether you are self-made or not, has nothing to do with it. Some rich people become rich at the expense of others. They become rich through immoral or dishonest practices. Or they do not reward those who helped them get where they are. This is the type of behavior that I object to.
I do not have any problem whatever with the idea of people becoming rich, as long as they do it in an honest manner and reward those whose help made it possible.
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MOST rich people live very frugally. They don't own yacht's and fly first class.
Again, it matters not one bit how they live their lives. What matters is whether they trampled on other people to obtain their wealth.
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Originally Posted by Three Wolves In Snow
Some person goes out and works hard, (even celebrities do a lot of work), puts their whole being in to the company, builds it up, becomes wealthy, passes it on to the family who didn't get their parent around because the parent was always gone, building up the business,
This is the simple, naive, fairy-tale version of how people become rich. Certainly there are those who fall into this category, but there are also many others who do it through less honorable means - by taking advantage of other people in order to get ahead.
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Those who do not have think they know how the rich spend their money and time and lives...but they don't have a clue.
There are many people who are neither lazy nor feel entitled, who nonetheless see the examples of abuse, and how these examples have had widespread repercussions that affect far more people than only the handful involved, and feel indignation, not only at the few individuals responsible, but also at a system or government that allows such abuse to go unchecked.
That is a very interesting question, one that isn't really easy to answer. (this is all opinion, of course) I think that people are envious as many have said, but I also think it is about how the media tends to portray those with money. First of all, what does one consider rich? To people like me, rich may be a person who can afford a house. To other Americans it may be a person who can afford all that he/she desires which can be bought. I am certain that there are entire communities who would consider 90% of Americans quite wealthy (and yes, that includes those who are below the poverty line.) I for one do not hate those who are wealthier than I am. I envy them, I desire the wealth that they have, but I always wish that I get that wealth by earning it. I know many who envy the wealthy and simply want a small share of what the wealthy person has. I wish to earn it in some way. Be it through architectural design, engineering, some form of art, or anything really. I know other people who do not envy the wealthy at all, they do not hate them, wish them ill, desire what they have or desire that they lose what they have. It just happens to be that those people are few and far between and typically do not have a voice that calls out louder than the numerous people who dislike the rich. I cannot speak for all people, but this is the way that I see it. I hope I have helped in some way.
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