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She's in the music industry. This story or some variation has been made about the performing talent since Al Capone was put away for taxes. She probably never saw much of the money that a forensic accounted said was in her name as it probably ended up in Sean Combs' corporate accounts.
Celebrities' personal lives are just that - get your nose out!
I disagree. This isn't some illicit love affair, it's how our government pays its bills. If the rich and famous would pay their fair share it would ease burden of the middle class.
That being said, I'm more concerned about Mike Tyson's $18 million tax bill than Lil' Kim's $126K.
I disagree. This isn't some illicit love affair, it's how our government pays its bills. If the rich and famous would pay their fair share it would ease burden of the middle class.
That being said, I'm more concerned about Mike Tyson's $18 million tax bill than Lil' Kim's $126K.
Who owes more in back taxes the top 1% or the bottom 99%? I'm not sure what you mean by "if the rich would pay their fair share" however you understand it to be I don't think it would have much impact on the middle class
Who owes more in back taxes the top 1% or the bottom 99%? I'm not sure what you mean by "if the rich would pay their fair share" however you understand it to be I don't think it would have much impact on the middle class
Fair enough, I should have said "if everyone would bay his or her fair share", regardless of whether it's a guy on SSDI running a cash-only business remodeling bathrooms or an entertainer who can't pay a million-dollar tax bill because he snorted up all his money. If all taxable income could be captured and collected it would greatly reduce the burden on the W2 wage earner.
I've heard of her, but I don't know who she is really.
Considering how much money she probably made I don't think it's all that much. It's like less than three years' worth of taxes for us and we're not remotely close to earning celebrity-style money.
Doesn't anyone coach these people on finances? Really, if you've got a certain level of cash coming in, it's not all that expensive to get professional advice on investments.
She spent a lot of money on plastic surgery, and it didn't work out so well (IMO) so she has a history of making poor choices. But her situation is nothing compared to the many athletes who have filed bankruptcy. Mike Tyson is broke and earned 400 million dollars. Allen Iverson is broke and earned well over 100 million dollars. Terrel Owens is broke and earned over 70 million dollars. That is only the tip of the iceberg.
Watch an ESPN documentary called 'Broke' sometime, it is excellent, and chronicles all these big name athletes who declared bankruptcy. Moreover, many of those athletes are interviewed and explain how it happens.
She spent a lot of money on plastic surgery, and it didn't work out so well (IMO) so she has a history of making poor choices. But her situation is nothing compared to the many athletes who have filed bankruptcy. Mike Tyson is broke and earned 400 million dollars. Allen Iverson is broke and earned well over 100 million dollars. Terrel Owens is broke and earned over 70 million dollars. That is only the tip of the iceberg.
Watch an ESPN documentary called 'Broke' sometime, it is excellent, and chronicles all these big name athletes who declared bankruptcy. Moreover, many of those athletes are interviewed and explain how it happens.
Even watching these documentaries I'm still shocked
at how these celebrities who were worth millions at
one point are now poor and almost no better off now
than the alcoholic on the corner. Allen Iverson is
a sad case. Man was on top of the world in his day
and now has not much to show for it.
Haven't these guys ever heard of financial planners
or investing your cash so that you can have more
down the road.
Even watching these documentaries I'm still shocked
at how these celebrities who were worth millions at
one point are now poor and almost no better off now
than the alcoholic on the corner. Allen Iverson is
a sad case. Man was on top of the world in his day
and now has not much to show for it.
Haven't these guys ever heard of financial planners
or investing your cash so that you can have more
down the road.
In our culture, a shockingly large amount of people have no clue how to handle their money. That doesn't magically change simply because you are suddenly earning millions.
Having a financial planner doesn't help at all if you don't know enough to recognize horrible ideas when you hear them. Not to mention that a lot of "financial planners" are nothing more than commissioned salespeople, who have no obligation whatsoever to act in the client's best interest.
In our culture, a shockingly large amount of people have no clue how to handle their money. That doesn't magically change simply because you are suddenly earning millions.
Having a financial planner doesn't help at all if you don't know enough to recognize horrible ideas when you hear them. Not to mention that a lot of "financial planners" are nothing more than commissioned salespeople, who have no obligation whatsoever to act in the client's best interest.
Most of these people that squander millions either don't use a licensed financial advisor or don't listen to their licensed advisor. I've seen it many times over and it isn't commissions that make them lose all their money, it's all the businesses that they try to start and/or fund for or with their friends and family.
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