How many intelligent and hard working people actually become rich? FALSE presime that such people will become rich! (salaries, dollar)
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It's not negativity. I'm very happy with my status in life. I'm not rich, but I have what I need. I have WAY more life experience at age 25 than many people have in a lifetime. For that I'm grateful.
However, I'm simply commenting on the fact that it is not sheer coincidence that tax cuts and cuts in public spending (education and other social services) have created class rigidity.
With the hallmarks of the modern middle-upper middle class being more and more expensive (education, healthcare, home ownership) and out pacing income, we see that the increased precariousness of the middle class.
The rich have gotten richer while the rest have either stagnated or gotten poorer.
The lowest segment of the population has actually gotten poorer.
I reject your premise as 80% of millionaires came from the middle class and many new people are becoming millionaires every day.
It's not negativity. I'm very happy with my status in life. I'm not rich, but I have what I need. I have WAY more life experience at age 25 than many people have in a lifetime. For that I'm grateful.
However, I'm simply commenting on the fact that it is not sheer coincidence that tax cuts and cuts in public spending (education and other social services) have created class rigidity.
With the hallmarks of the modern middle-upper middle class being more and more expensive (education, healthcare, home ownership) and out pacing income, we see that the increased precariousness of the middle class.
The rich have gotten richer while the rest have either stagnated or gotten poorer.
The lowest segment of the population has actually gotten poorer.
However, conservatives tend to believe that they are the best for solving this crisis. Instead of funding for more university education or better job training or even for more government subsidized loans for small businesses, conservatives typically call for tax cuts for the rich. This money is typically
not invested in local enterprises.
When people say brains and hard work will make you rich what they really mean is 'excessive and sustained hard work' and 'a cunningly quick mind' can make you rich eventually.
It's not a matter of working hard 40hrs a week and having a good brain. It's working insanely hard every waking hour generally at your own business and keeping an eye out for all opportunities, all risks, and all ways to make the most of your money while keeping expenses under your control. That's how it's done.
Getting rich is easy. Spend less than you make over a lifetime should set you up for retirement.
The fact that I do not have very much money does not make me poor because I add my family and friends as assets. This does not mean I would not take a large lottery win and enjoy the results.
I had a business I spent all my time, effort and capital trying to grow. As I saw myself running out of everything and market changes created by Ronnie Raygun's government pretty much eliminated any chance of success, I closed it and went back to work for others. I consider it a good move because I am pretty content with my current life.
After I retire and have both time and health insurance as part of my pension I will probably start another business just for grins. It will be a sort of self supporting hobby in the alternate energy business. I figure it will work because I will not need to support myself during the development phase and can spend any income on growing the business.
None of this is relevant to the observation that most rich people started off that way and simply did not squander their inheritance.
So what is your point there? That businesses shouldn't be allowed to fail? I would say investing in a failure of a business is squandering. How could you have no fault?
You don't have to be smart to become rich. Look at our sports figures.
Sometimes when they are no longer playing sports you hear about them later and they are broke. I think this is where intelligence comes in. You have to put thought into maintaining wealth and learn how to do something else or invest when your life changes, and all along they should have been preparing for the day they would no longer be bringing in millions from playing a game. Earning it is one thing, knowing what to do with it will keep you rich.
First and foremost, one must be willing to work hard. Bill Gates never finished college. Look at the facebook guy...
In America, the successful people normally work for themselves and pay their taxes 1/4ly and medicare and SS themselves. I have never seen anyone be financially successful working the 9 - 5 grind 5 days weekly for someone else.
When you have your own business, your primary aim is to succeed, prosper, grow and eventually become financially independent. This business of putting a milion dollars as being "rich" is silly. Financial independence for me may not be for you, but it also may be for your neighbor. It is relative to what you want out of life, not what someone or a government is willing to GIVE you.
Sometimes when they are no longer playing sports you hear about them later and they are broke. I think this is where intelligence comes in. You have to put thought into maintaining wealth and learn how to do something else or invest when your life changes, and all along they should have been preparing for the day they would no longer be bringing in millions from playing a game. Earning it is one thing, knowing what to do with it will keep you rich.
I just read an article about the NBA and the NFL sending new players to classes for that reason.
I am middle class. My paarnets would say I am upper mif=ddle class. The chinese woud say we are all rich or at elast middle class.Lots of hard working pweople are rich by even our standards.Otherwise Obama would not want to tax them so much as it would make any sense.
I just read an article about the NBA and the NFL sending new players to classes for that reason.
And I thought they were college graduates.
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