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Is that why so much money as in Trillions is overseas sitting and won't come back because our tax rates were so much lower than the country they are in? The wealthy overwhelming pay most of the taxes in the country. The issue isn't the amount they pay but the RATE they pay in comparison to others. Where are you getting that people posting are living pay check to pay check?
I guess from me serving twenty years in the military and working in the government and personally knowing those people who do live from one paycheck to another. I have sat in the commanders office and seen people get sent to financial counselling for that very thing. Oh btw, Trillions are sitting in overseas BANKS so that they won't have to pay as much taxes as they did before the bush tax cuts.
Companies are suppose to bail the country out? Sorry they are suppose to increase investor share value in multiple ways. Thats why folks invest in them and give them the money to operate with in exchange for anticipated increase in wealth being returned to them. Shareholders have the rights to excess cash if not needed for improvements to increase share value. That is the issue with Apple holding 130 billion in cash. Do something Tim Cook do something is the cry.
I guess from me serving twenty years in the military and working in the government and personally knowing those people who do live from one paycheck to another. I have sat in the commanders office and seen people get sent to financial counselling for that very thing. Oh btw, Trillions are sitting in overseas BANKS so that they won't have to pay as much taxes as they did before the bush tax cuts.
And billions are being moved from high tax states to low tax states by companies and individual voting with their feet. Heck go to the retirement forum and see all of us old geezeers trying to find the lowest tax/cost places to retire to and still have quality life styles.
And why are they making the decision to consume worthless crap instead of accumulating and building wealth one alternative financial decision at a time? Even in retirement you can still save and continue to build wealth because it is smart to do so. Instead of complaining you should be trying to teach people the power of compounding and understanding that saving the second hundred dollars is easier than the first etc. Each subsequent thousand becomes easier and each subsequent 100K becomes easier. Give up smoking or beer or other discretionary choices and watch how easy even that first $100 can be. Heck for some low income folks they can do that in lottery tickets.
People get caught up in the media which glamourizes material wealth which is not wealth at all. Please explain why there are lines whenever the new Iphone/Ipad comes out? Even when the new Air Jordan which cost less than 20.00 to make sells for over 150.00 creates a line of people that can't afford them. Very few people know that buying a new car in is the worst investment that you can have because of the depreciation, but yet people still go out and buy them.
It is easy to teasch someone who is familiar with having actual wealth rather than someone who simply wishes for it. That being said it helps to have money or at least to know the value of it at a early age in order to obtain it later on. The American culture breeds "I want it now, and the hell with later on" this is one of the reasons why fast foods have become so popular here.
It is easy to tell someone who smokes to give up their cigarettes in order for them to save money for an investment that may or may not pan out for them later on. Americans want to feel good NOW and not later regardless of the cost. This is the reason so many people play the lottery because they want to be rich and they want to be rich now.
People get caught up in the media which glamourizes material wealth which is not wealth at all. Please explain why there are lines whenever the new Iphone/Ipad comes out? Even when the new Air Jordan which cost less than 20.00 to make sells for over 150.00 creates a line of people that can't afford them. Very few people know that buying a new car in is the worst investment that you can have because of the depreciation, but yet people still go out and buy them.
It is easy to teasch someone who is familiar with having actual wealth rather than someone who simply wishes for it. That being said it helps to have money or at least to know the value of it at a early age in order to obtain it later on. The American culture breeds "I want it now, and the hell with later on" this is one of the reasons why fast foods have become so popular here.
It is easy to tell someone who smokes to give up their cigarettes in order for them to save money for an investment that may or may not pan out for them later on. Americans want to feel good NOW and not later regardless of the cost. This is the reason so many people play the lottery because they want to be rich and they want to be rich now.
Your part in black may say it all. Are you saying the Iphone/Ipad purchasers can afford it and still save and the Air Jordan folks can't? Hmnmm that could well be a wealth gap in the making if so.
Companies are suppose to bail the country out? Sorry they are suppose to increase investor share value in multiple ways. Thats why folks invest in them and give them the money to operate with in exchange for anticipated increase in wealth being returned to them. Shareholders have the rights to excess cash if not needed for improvements to increase share value. That is the issue with Apple holding 130 billion in cash. Do something Tim Cook do something is the cry.
Considering because of the tax codes and actions of some countries and the ability to hide money is the reason why many companies are thriving to begin with. A good example is Halburton, they were not doing too well until the war started and after they made billions they move their headquarters to Dubai.
Your part in black may say it all. Are you saying the Iphone/Ipad purchasers can afford it and still save and the Air Jordan folks can't? Hmnmm that could well be a wealth gap in the making if so.
No, what I was saying that they are both unnessary purchases. People whostand in line for the newest gagets are more likely to already own something similiar to it. I'm pretty sure that anyone who stand outside for hours to buy some Air Jordans already has a pair of sneakers already, and those who have and Ipad/Iphone usually have the previous model at home as well.
It boils down to what people think what is important at the time and never think of the long term affect of that purchase.
One of the problems IMO is the unequal opportunity between K-12 schools, where good choices are not always available to parents/children. This is glaringly obvious living in a county with both some of the richest and poorest people/schools in the U.S. (Cook). You have some of the best schools in the country, a few miles away from some of the worst.
The differences in quality of education, materials, environment, can be astounding. The upper class are not only able to segregate their kids into top private schools, but they are also able to segregate their children into the best performing public schools based on property tax base (they can afford the homes in those districts) and/or connections.
If your parents have money, you have choices as do my children. But children who start with similar intellectual potential may not have the educational opportunities and fall further and further behind in their education. The lack of good K-12 schooling for lower and middle classes is a big factor in perpetuating the class divide and leading to wealth distribution inequality, especially in an economy that is so intellect-based.
The upper class tend to give a crap in regards into their children's education, and not just from a financial prospective. Unless we start getting better parenting all around, the "class divide" in education won't change, regardless of how much you throw at the problem.
The upper class tend to give a crap in regards into their children's education, and not just from a financial prospective. Unless we start getting better parenting all around, the "class divide" in education won't change, regardless of how much you throw at the problem.
Yes, the upper class - top 1% - 2% "give a crap" but I'm sure many in the bottom 98% "give a crap" as well. You know, the middle class that contains (often college-educated) teachers, policeman, office workers, service workers, etc... Solutions do not have to include "throwing money at the problem," but a complete overhaul of structure/access/curriculum.... The U.S. educational system is part of the problem of increasing wealth inequality.
Property tax dilemma
The more affluent a neighborhood, the higher the property taxes, and the higher the funding for that school district. Although this situation seems favorable, the problem emerges when the equation is reversed. In neighborhoods inhabited by predominantly working and lower-class families, properties are less expensive, and so property taxes are much lower than those in affluent neighborhoods. Consequently, funding for the school districts to which working and lower class children are assigned is also significantly lower than the funding for the school districts to which children of affluent families are assigned. Thus, students in working and lower class schools do not receive the same quality of education and access to resources as do students from affluent families. The reality of the situation is that distribution of resources for schools is based on the socioeconomic status of the parents of the students. As a result, the U.S. educational system significantly aids in widening the gap between the rich and the poor. This gap has increased, rather than decreased, over the past few decades due in part to a lack of social mobility.[12]^ a b c Leonhardt, D. (2005). Class matters: The college dropout boom. New York Times. http://www.nytimes.com/2005/05/24/na...INAL.html?_r=1
Social mobility
Social mobility refers to the movement in class status from one generation to another. It is related to the "rags to riches" notion that anyone, with hard work and determination, has the ability to move upward no matter what background they come from. Contrary to that notion, however, sociologists and economists have concluded that, although exceptions are heard of, social mobility has remained stagnant and even decreased over the past thirty years.[14] Some of the decrease in social mobility may be explained by the stratified educational system. Since the educational system forces low-income families to place their children into less-than-ideal school systems, those children are typically not presented with the same opportunities and educational motivation as are students from well-off families, resulting in patterns of repeated intergenerational educational choices for parent and child, also known as decreased or stagnant social mobility.[14]^ a b Leonhardt, D. & Scott, J. (2005). Class matters: Shadowy lines that still divide. New York Times. ^ a b Leonhardt, D. & Scott, J. (2005).http://www.nytimes.com/2005/05/15/na...INAL.html?_r=0
Last edited by GoCUBS1; 03-09-2013 at 09:39 PM..
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