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Old 10-22-2013, 03:22 AM
 
33,046 posts, read 21,948,544 times
Reputation: 8962

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Quote:
Originally Posted by SpeedyAZ View Post
First off please work on your grammar, "don't have none" is not acceptable English.

Second, my net worth is none of your business. Although I would be willing to bet it is higher than yours.

Third, not having morals is something you should not be proud of. Almost everybody who is truly wealthy did not come about that wealth by illegal means, they worked hard and achieved their goals.

Doesn't that depend on the message intended to be conveyed? Right now I have $23 in my wallet so wouldn't I be correct in saying I don't have none?

Also, wealth is facilitated by property laws, which generally work against the poor and work for the rich. Because by law, home ownership is not scalable; the largest means of building wealth is not available to the poor and the working class.

 
Old 10-22-2013, 03:35 AM
 
33,046 posts, read 21,948,544 times
Reputation: 8962
Quote:
Originally Posted by SpeedyAZ View Post
First off please work on your grammar, "don't have none" is not acceptable English.

Second, my net worth is none of your business. Although I would be willing to bet it is higher than yours.

Third, not having morals is something you should not be proud of. Almost everybody who is truly wealthy did not come about that wealth by illegal means, they worked hard and achieved their goals.

If you lived in Michigan, your net worth might be some of my business; there is an extra tax on my rented home ($1,500/yr) that is not levied on the owner-occupied home next door. Put another way, Michigan takes money from people who can't buy a home and redistributes it to people who own a home.

Arizona allows cities and counties to levy a 3% tax on rent, a tax you don't pay.
 
Old 10-22-2013, 03:50 AM
 
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Quote:
Originally Posted by Mircea View Post
But you created that cycle.

I'm not disputing that the Middle Class is shrinking, I'm saying this is the stoopidest Middle Class in the history of planet Earth.

Only a moron buys a house with 0% down. You can't possibly justify buying a house without putting 35% to 50%, and yet people do, and then they whine they have no money, and they're right, because they're spending it all on interest.

If they had the self-discipline to wait two years, they'd end up with a couple million in the bank, and that doesn't include profit from the sale of the house.

Would an intelligent person pay $5000 for a $1200 TV? No, but the American Middle Class does. Instead of saving money for 4-6 months and paying cash, they put it on their credit card and end paying interest over the next 20 years.

And that's a just a few examples. People are poor because they make bad financial decisions, and then they don't want to accept responsibility for their actions, because blame is better to give than receive.

And then there's your neighbors, Paul and his hardware store, Tom & Cindy and their bakery, and Joan and her grocery store. The fact that they live in your community, pay taxes to support your schools and their kids go to school with your kids wasn't important to you. You went to the Big Corporate Hardware Store and the Big Corporate Bakery and the Big Corporate Grocery store to save a few cents.

Yeah, well, in the end, how much money did you really save?

They all went out of business, so there's fewer Middle Class entreprenuers, you have to pay more in property taxes now to support your schools and the money you spend at the Big Corporate stores ends up in other communities or out of state, and in the pockets of a only few (and none of them live in your community).

??? Perspective, gentle reader, perspective.

Buying a home with $0 down would allow me to escape rent inflation, lock in my P&I payment, enjoy a large property tax cut (in Michigan, an egregious property tax on rental property helps pay for schools), stabilize my housing expenses, enjoy over time a declining proportion of my income going to pay for housing (and a rising proportion of my income going to savings and investment), control my living environment (as opposed to having no control over who my roommates are and who they bring to the house), enjoy rental income, and build equity and wealth over time.

What's not to like?

I do not even have a TV, what bad financial decisions am I making?
 
Old 10-22-2013, 04:01 AM
 
33,046 posts, read 21,948,544 times
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Quote:
Originally Posted by chucksnee View Post
It would be nice if those people who "make us pay taxes" would pay there own taxes....

They usually do pay regressive state and local taxes.
 
Old 10-22-2013, 04:07 AM
 
33,046 posts, read 21,948,544 times
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Quote:
Originally Posted by alphamale View Post
Progressives are experts at creating class warfare. "Hey poor and struggling people, look at the guy in the Lexus. He can drive that car because he takes from you!"

As Reagan stated...."Just because you have a fat man standing next to a thin man doesn't mean that the fat man stole from the thin man."

Obama made over $5 Million last year. That can buy a lot on insurance policies for his constituents. George Soros made $3.3 BILLION! How many insurance policies could that buy?

Oh, that's right....they want US to pay!

??? Conservatives also create class warfare, what else do you make of regressive taxes, NIMBY, and upward redistribution of income through supply control (zoning)?
 
Old 10-22-2013, 04:10 AM
 
33,046 posts, read 21,948,544 times
Reputation: 8962
Quote:
Originally Posted by Enterprise View Post
The only reason why you working class people are not wealthy is because you spend too much time trying to play financial mindgames with your family, friends and neighbours. Too much spending.

Don't hate or penalise the rich just because you made too many bad choices or because your too lazy to get off your asses and make some money. What?! You think the money should come rolling to you with no effort on your part? Nice ego there, posters.

??? Burger flippers and bedsitters are not wealthy because they play financial mindgames and spend too much?
 
Old 10-22-2013, 04:18 AM
 
33,046 posts, read 21,948,544 times
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Quote:
Originally Posted by elamigo View Post
A question for you:
Which quintile pays the most taxes in this country and which one pays none or the least?

You have a great day.
El Amigo

Which quintile in this country pays the highest percentage of its income in state and local taxes and which pays the lowest percentage?
 
Old 10-22-2013, 07:15 AM
 
9,856 posts, read 13,393,290 times
Reputation: 5453
Quote:
Originally Posted by freemkt View Post
??? Perspective, gentle reader, perspective.

Buying a home with $0 down would allow me to escape rent inflation, lock in my P&I payment, enjoy a large property tax cut (in Michigan, an egregious property tax on rental property helps pay for schools), stabilize my housing expenses, enjoy over time a declining proportion of my income going to pay for housing (and a rising proportion of my income going to savings and investment), control my living environment (as opposed to having no control over who my roommates are and who they bring to the house), enjoy rental income, and build equity and wealth over time.

What's not to like?

I do not even have a TV, what bad financial decisions am I making?
You refuse to look for another job, refuse to educate yourself to improve your skills, refuse to work more than 30 hours/week, and refuse to move to an area where it is easier to find a job.

What bad financial decisions are you NOT making?
 
Old 10-22-2013, 07:43 AM
 
1,567 posts, read 2,771,347 times
Reputation: 1262
Quote:
Originally Posted by freemkt View Post
They usually do pay regressive state and local taxes.
while i agree these taxes are regressive it's also silly to act like a guy paying a few hundred bucks in these taxes is contributing as much or more as someone paying tens or hundreds of thousands or even millions in those same taxes bc they won't effect the rich person as much. additionally the poor people paying the regressive taxes generally get a ton more in govt benefits than they are paying into the system.
 
Old 10-22-2013, 07:46 AM
 
1,567 posts, read 2,771,347 times
Reputation: 1262
Quote:
Originally Posted by hnsq View Post
You refuse to look for another job, refuse to educate yourself to improve your skills, refuse to work more than 30 hours/week, and refuse to move to an area where it is easier to find a job.

What bad financial decisions are you NOT making?
well he said he doesn't own a tv probably bc he doesn't like tv which makes him a financial guru

the anti tv people in general crack me up like they aren't spending 2 dollars a day on something else they don't need.
if you don't like tv fine don't own one, but don't act like not spending money on tv but spending that same money on another form of entertainment is any different.
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