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That is true. To deny the many the opportunity, the rip would be most obvious now wouldn't it? If you did not allow 401K or pensions into the system and have skin in the game, the gig would be up. Those 401ks and pensions don't amount to a hill of beans compared to a very select small minority who own much of the capital in the states---40-60%? There are a small amount of families that possess more gold then anytime in world history and that includes old euro royalty. Millions of middle class lost half of their 401ks and many lost completely their pensions. But the 1% didn't on the most part and got wealthier instead. Now, you can call that success, I myself call it a rip in the highest order.
The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich. the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer.
Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff?
LOL, there's no robbing of the poor going on here; one could reasonably believe (and I do) that the poor are robbing the middle class.
While I agree that the Fed's QE policy is making the market look artificially healthy (after all, there is nowhere else for people to put one's money), and investors are doing very well, don't forget that those with 401ks (many of whom are not longtime investors) are also benefitting.
Poor people have an increasing number of safety nets (thanks to the largesse of all taxpayers, including those in the middle class) and the wealthy, bless 'em, can take care of themselves. What's happening here is that we're moving towards two classes: the poor and the rich. And it's the middle class that's going to be moving downward.
Collectively there is a lot of money to be had from the middle class. Don't be surprised if one day you wake up to find out that Obama and Reid now consider you rich so he use his class warfare rhetoric and will pit the American people against you so he can take more of your money.
How much is enough? As everyone knows it is never enough money, what makes people think they will always be given a pass when there is yet another government money grab.
Obama and Reid are not dictators. They are doing what they are told just like Bush and company! They are nothing but stewards forcing a huge transfer of wealth from the majority to a small ass group of people by and large. If Mitt Romney was President he'd be having a massive orgasm throughout his presidency.
That is true. To deny the many the opportunity, the rip would be most obvious now wouldn't it? If you did not allow 401K or pensions into the system and have skin in the game, the gig would be up. Those 401ks and pensions don't amount to a hill of beans compared to a very select small minority who own much of the capital in the states---40-60%? There are a small amount of families that possess more gold then anytime in world history and that includes old euro royalty. Millions of middle class lost half of their 401ks and many lost completely their pensions. But the 1% didn't on the most part and got wealthier instead. Now, you can call that success, I myself call it a rip in the highest order.
The Federal Reserve isn't just inflating markets but is shifting a massive amount of wealth from the middle class and poor to the rich. the Fed's policy of quantitative easing was inflating stocks and other assets held by wealthy investors like himself. But the price of making the rich richer.
Who owns assets—the rich, the billionaires. You think Warren Buffett hates this stuff?
LOL, there's no robbing of the poor going on here; one could reasonably believe (and I do) that the poor are robbing the middle class.
While I agree that the Fed's QE policy is making the market look artificially healthy (after all, there is nowhere else for people to put one's money), and investors are doing very well, don't forget that those with 401ks (many of whom are not longtime investors) are also benefitting.
Poor people have an increasing number of safety nets (thanks to the largesse of all taxpayers, including those in the middle class) and the wealthy, bless 'em, can take care of themselves. What's happening here is that we're moving towards two classes: the poor and the rich. And it's the middle class that's going to be moving downward.
Yes that is the big picture way of looking at it. The poor are robbing the middle class and the uber rich are robbing the middle class.
One does not need income, to obtain wealth. Warren Buffets salary at Birkshire Hathaway is $100K a year..
To buy those assets requires money and in the case of the middle class person that is from income. Income buys the asset and in the case of stock hopefully produces passive income.
Warren Buffet is a hypocrite, a man whose career is a lesson in business and personal tax minimization, he is the last person who should be preaching about “fairness” when it comes to taxation.
Oh, I believe it. I believe every word of it. I just do not know how to stop it.
Keep money out of politics. No super Pacs, no--companies are people too bs. No insider trading by government officials. Perhaps term limits too. None of this forcing people to purchase a for-profit product and then calling it a tax. Whether Obama care's intentions are good or not, its still a large transfer of money from a large group of folks to smaller group of well off folks, who lift no fingers, brake no sweat in the healthcare trade.
And who pays the vast majority of taxes? The rich or course.
The top .5% pay an effective tax rate less than the 99.5% below them, especially since the top .5% make their wealth not through income but capital gains and financial investments.
They still pay more dollar wise, but the bottom 99.5% would be paying a lot more if the game was not skewed toward the top.
Also, 50% of American's do have a 401, yet .5% of American's at the top are the main beneficiaries of the financial markets because they have access to other people's money. If the stock market was working for everyone involved (those 50%) then the inequality in this country would not be as high.
The stock market has benefited disproportionately the well connected, insider traders, politicians, and and Banksters.
Membership in this elite group is likely to come from being involved in some aspect of the financial services or banking industry, real estate development involved with those industries, or government contracting. Some hard working and clever physicians and attorneys can acquire as much as $15M-$20M before retirement but they are rare. Those in the top 0.5% have incomes over $500k if working and a net worth over $1.8M if retired.
The higher we go up into the top 0.5% the more likely it is that their wealth is in some way tied to the investment industry and borrowed money than from personally selling goods or services or labor as do most in the bottom 99.5%. They are much more likely to have built their net worth from stock options and capital gains in stocks and real estate and private business sales, not from income which is taxed at a much higher rate. These opportunities are largely unavailable to the bottom 99.5%.
It must be nice to have a government bought and paid for to serve the top .5% at the expense to the rest of the country.
Actually, most people use their income to buy depreciating assets, which is why we have a nation full of poverty strickened individuals.
Poor people spend every penny they get. The middle class as they become more successful buy liabilities and borrow to buy more liabilities. They get caught in the rat trap. The rich buy assets which increases their wealth. It's more involved but thats the basics of it. If a middle class person is smart or is a high income earner he also buys assets but as his income increases the government comes and grabs a bigger chunk of it making it harder for the middle class to build wealth which those in the political class already have.
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The stock market recovered as did the 401K's.
