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I agree. But don't forget, we are all part of the cycle and the problem. Weren't we all jubilant when our house values doubled in one year?
Having no intention of selling my home, this merely meant that my property taxes increased, although the County Board did cut the rate back to keep the actual increases within reason. Otherwise, my mood in say early 2004 was one of wary apprehension...hoping that the Fed was as on top of the situation as Greenspan continued to claim that they were.
Quote:
Originally Posted by HereinDenver
When flip one house after another for profit? When we make money, when we are greedy, every one is happy, now that everything is screwed up, let's just blame other people.
The word "greed" is much over-used. Meanwhile, in most economic circumstances, be they upswings or downswings, there is no real group that can be singled out as bearing special degrees of responsibility. In this case, there is...
Having no intention of selling my home, this merely meant that my property taxes increased, although the County Board did cut the rate back to keep the actual increases within reason. Otherwise, my mood in say early 2004 was one of wary apprehension...hoping that the Fed was as on top of the situation as Greenspan continued to claim that they were.
The word "greed" is much over-used. Meanwhile, in most economic circumstances, be they upswings or downswings, there is no real group that can be singled out as bearing special degrees of responsibility. In this case, there is...
Not targeted at you. Just the 10% or so of mortgage holder that did fall into the category. Those 10% needs to own up.
i couldn't agree with you more. these corporate bureaucracies rely on stringent regulation to hamper competitions access to market and make a compelling case for deregulation.
Barriers to entry in this economy go well beyond regulatory obstacles, though if your intent here were to put up some rant over Sarbanes-Oxley, don't let me stop you. The actual shortcomings in our regulatory structures are much more in the area of effective oversight of those firms that have already gained entry. Their capacities for abuse need to be offset to a far greater degree than they have been, and we need to take some look as well at the situation wherein a capacity for effective oversight exists, but the designated regulator declines to exercise it...
this is a load of nonsense. there is a very big difference. if i have a problem with my service at the grocery store, i go to another one. if i have a problem with my government i have to rely on the opinions of my fellow citizens as to whether it gets re-elected.
and my grocery store doesn't force me to do anything. don't pay your taxes and see where that gets you!
You need to rethink the problem, perhaps in light of some intervening posts. Meanwhile, try walking out of the grocery store with a cartload of stuff you haven't paid for. The constable will be around much more quickly than if you merely failed to file your income taxes.
The word "greed" is much over-used. Meanwhile, in most economic circumstances, be they upswings or downswings, there is no real group that can be singled out as bearing special degrees of responsibility. In this case, there is...
Would you not say it required an extraordinary amount of circumstances and actors to result in where we are today? I fully admit it's mind boggling trying to put it all (not just the criminal capitalist. Which crime by itself is capitalizing on someone else and their belongings) together especially with bits and pieces seeming to run all the way back to some laws and programs implemented around the time of the New Deal.
Does anyone else find it offensive when people talk about not wanting to raise taxes on the rich (I'll use 1 million+ per year for my definitiion of rich) because it's "taking away their hard earned money"?
The very rich do not earn their money in the same sense that average americans do. You all should know this by now! The very rich need only leverage their capital in the correct ways to increase their wealth, no true work is required.
The average person doesn't get paid if they aren't producing goods or performing services. They are the backbone of the economy, the creators of all the wealth. The rich have nothing without them.
It's offensive to the people who do the real work in this country, the teachers, drywall hangers, doctors, concrete pourers, road maintenance crews, computer programmers, bus drivers, loggers, carpet installers, anything you see on Dirty Jobs, etc. etc. etc. to compare the money they give their all for- to money made by simply leveraging capital, no work required!
It's also offensive to imply that a CEO's time is worth 400 times more than the average worker.
The way to get rich in this country is to start your own business. It's next to impossible to get truly rich through your labor alone. If you're a janitor, cleaning office buildings by yourself will only get you so far, one person can only do so much. The way to get rich is to start getting others to work for you! Pay them a wage and profit off every building they clean. Expand. Eventually, you will get to the point where you have 10 janitors working for you, and you will no longer have to do any cleaning yourself! Manage and grow the business for a few years, and then sell to a competitor for a nice cash out. You are now rich. If you are smart, you are now aggressively investing. Buy an office building to lease out (you don't have to deal with it, just hire a management company to handle the details). Give control of your money to the right people, and it will now grow on it's own. You've reached critical mass. Congratulations, you worked hard and smart and played the game well. and you've earned a nice big house and the car you've always wanted. Enjoy your life of leisure, we might be a little jealous, but we're not mad at ya.
Becoming rich is fine, but once you make it please remember that there are others working much harder than you are, for much less money, and it would only be fair for you to pay your fair share of taxes on the money that is now funneling into your bank account like magic. Especially considering the only reason your CarpetWorld inc. stock has money to pay you dividends is because Jim the carpet installer (making 35k) just finished on a 4 bedroom. You've earned your slice of the pie, but please don't get greedy and try to eat the whole thing, the little guy deserves more than crumbs.
Does anyone not agree that there is a distinction between hard earned money and capital gains?
Better raise that amount to well over $1 million. The people I know making $1-2 mill a year own businesses and work 70-80 hours a week busting their buttts... and they are paying their employees very well. A great number started their companies themselves (nothing was handed to them) and the whole family sacrificed in different ways to build the company. After years the company finally starts to pay off. Your statement ".... need only leverage their capital in the correct ways to increase their wealth, no true work is required." -- if this is said in reference to those making $1-2 mill and sweating by their brow for it - the statement is highly offensive.
There were some other effective leaders who were able to use class warfare for personal gain. They used many definitions bourgeoisie and proletariat. Pretty slippery slope if you ask me. I'd be careful what you ask for you just might get it.
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