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Considering the majority of real "rich guys" are self-made (not trust fund kids), perhaps they have sacrificed a bit. Things like studying countless hours to get into top schools, working 60+ hour weeks, risking life savings to build businesses, delaying marriage/family, choosing to invest wisely/live frugally rather than buy the latest designer clothes, cars, gadgets, etc.
As we've seen, many of these "spoiled freaking jerks" with lattes, suv's, and McMansions aren't rich at all.... Many are the middle income families who do not want to sacrifice. Instead of living within their means and investing for the long-term, they choose to max out their credit lines so they can live the "rich guy" lifestyle. But many of the true "rich guys" aren't living that way at all.
Most rich and successful people work very hard for their money. But even I see that luck plays a role in the equation. The richer you become, the more luck plays a role.
Warren Buffet was a very lucky guy. Here is where luck comes in for Buffet:
"Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company." Warren Buffett - Wikipedia, the free encyclopedia
His father owned a brokerage company, and Buffet grew up around finances and investing. He was lucky to be surrounded by this early in life. That's luck for you.
"Outliers" is a good book to read on the "luck issue"
Considering the majority of real "rich guys" are self-made (not trust fund kids), perhaps they have sacrificed a bit. Things like studying countless hours to get into top schools, working 60+ hour weeks, risking life savings to build businesses, delaying marriage/family, choosing to invest wisely/live frugally rather than buy the latest designer clothes, cars, gadgets, etc.
As we've seen, many of these "spoiled freaking jerks" with lattes, suv's, and McMansions aren't rich at all.... Many are the middle income families who do not want to sacrifice. Instead of living within their means and investing for the long-term, they choose to max out their credit lines so they can live the "rich guy" lifestyle. But many of the true "rich guys" aren't living that way at all.
That does not make any sense!
If they are living it up etc.
in the end are they paying uncle sam (referring to the people who live beyond their own means)
I am tired of hell getting premiums for health care jacked up
paying way more than my own share of taxes
watching the stupid companies get tifs and incentives in exchange for jobs that never materialize etc...
sure stick it where they can pay for a bit make it equal - why not!
I can speak for myself work 60 hrs a week ,served 4 years in the navy
went to school part time after the navy finally finished.
work way too much well into the evening hours. work sometimes on saturday and sundays to get jabbed... time for the other side to pay up for a change. get rid of the dems and get rid of repubs they are all owned and they are not owned by the people but the corporations and weatlty.
think about it -it really is not that complicated the dems and repubs are not working and needs to be changed as soon as possible both parties
yeah the rich guy with all the tax breaks lets stick it to him and her ... sure thing
From personal experience, I've also observed that liberals/socialists are often very good at capitalism, at gaming the system, and at exploiting workers.
I have wondered whether these people project their own 'greed' onto other rich/wealthy people, and figure the rich are greedy and therefore should pay higher taxes.
I've noticed the same thing. The hypocrisy of many liberals is galling.
Most rich and successful people work very hard for their money. But even I see that luck plays a role in the equation. The richer you become, the more luck plays a role.
Warren Buffet was a very lucky guy. Here is where luck comes in for Buffet:
"Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company." Warren Buffett - Wikipedia, the free encyclopedia
His father owned a brokerage company, and Buffet grew up around finances and investing. He was lucky to be surrounded by this early in life. That's luck for you.
"Outliers" is a good book to read on the "luck issue"
There are plenty of rags-to-riches Oprah Winfrey success stories for every Warren Buffet story.
I know a lot of people believe luck plays the biggest role in success. I do not. I agree with the famous quote that "luck is when preparation meets opportunity."
The more prepared, educated, networked you are.... the better your opportunities (not your luck). You become richer because you are becoming a smarter, better networked, more efficient worker/investor not a luckier person.
I think the least successful people tend to associate success more with luck (like winning the lottery). I found this attitude particulary prevalent when I tutored inner city kids. And the more successful people tend to equate success more with hard work and determination.
I believe you make your own luck. I know many of you on this thread probably disagree with me. So be it.
So the rich guy who is paying massive amounts of tax compared to the government services they receive, and for which you probably receive far more than you contribute to - that's fair?
I think EVERYONE of voting age should pay some income tax. Maybe not much for the lowest wage earners, but a symbolic amount so they feel they put something into the system (other than social security and medicare).
I am willing to accept higher tax collections from high income earners if it is done through tax reform. Radically simplify taxation and minimize attempts to modify behavior through taxation.
No mortgage deduction (phase out over ten years)
No dependent deduction (you have kids if you can afford them)
No deductions from federal taxes for state taxes of any kind - why are we trying to hide/minimize the taxation differences in the states?
No charitable deduction - give to charities because you want to
Mortgage deduction- keep this one as its the easiest to prove and is pretty fair. Seems fair since as a property owner we pay taxes and its a good break also encourages home ownership.
Dependent deduction-that is probably a tough call but someone who has children obviously pays for school books and other things like medical care.
However I do think if you do not have children you should somehow get a tax credit or something to offset your property tax. what good do i get out of the school system other than maybe being able to sell your home easier if our in a good district.
Charitable deduction- take it away your right -however I use this just like everyone else and it does benefit others
Bottom line is the person making the high bucks is probably cheating on the taxes anyway wouldnt you agree with that at all in todays environment.
Bottom line is the person making the high bucks is probably cheating on the taxes anyway wouldnt you agree with that at all in todays environment.
So now people making "high bucks" are probably cheating on taxes?
And, according to you, they also "drink starbucks, drive gas-guzzling suv's, and are spoiled freaking jerks?" You cannot be serious. Do you really think all wealthy people are that evil?
Taking advantage of business deductions/credits, setting up trusts, loan paybacks, etc. is all perfectly legal and not "cheating." Most wealthy people have good accountants to ensure this as most (not all) people want to be legal and avoid audits.
The more prepared, educated, networked you are.... the better your opportunities (not your luck).
So you don't think luck has a role in creating the "super rich"?
I think hard work definitely plays a role. But I also think luck plays a major role. It seems as you go up the wealth scale, luck plays even more of an important role.
I would say with hard work you can easily attain upper middle class in this country. However, to have net worths of 10+ million dollars, you definitely need a good bit of luck in your life. Since 99% of people don't have a net worth this high-- do you think it is because 99% of people don't work hard enough, or that 1% of people are luckier?
Taking advantage of business deductions/credits, setting up trusts, loan paybacks, etc. is all perfectly legal and not "cheating." Most wealthy people have good accountants to ensure this as most (not all) people want to be legal and avoid audits.
Them that gots the gold makes the rules. The rules are no accident, they are written by people who have money and would like to keep it that way.
i think that people need to recognize the the government taking on debt is just a sneaky way of taxing american taxpayers. we shouldnt be allowing the government to raise debt.
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