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Old 11-20-2007, 12:58 AM
 
31 posts, read 66,678 times
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every things you talk about, happened in all country in the word , for example , in my country(Iran) it happened too
but I think it depend on you to chose what part do you want to be :
E (Employee) , S (Self Employee) , B (Business Man ) , I (Investor)
if you are an Employee , when your income grow up, you have to pay many tax
but many government have so many laws to help Business man and Investor
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Old 11-20-2007, 02:55 AM
 
Location: Boca Raton, FL
711 posts, read 1,707,063 times
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The Top 1% . . . of What?
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Old 11-20-2007, 06:28 AM
 
Location: Tolland County- Northeastern CT
4,459 posts, read 6,869,282 times
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When I have relatives that can put 1 million dollars into a highly risky Biotechnology stock- and then take a 70% bath, which excludes attorney fees after they tried to sue unsuccessfully the company for being 'mislead', I find it difficult to believe the rich are not doing well. The wealthy have done extraordinarily will since 1980- while the poor and middle class have eroded further. What we have in this country now is a social and economic class that resembles the 'Gilded ages' of the late 19th century. A sort of Social Darwinist mindset that the strong survive and those not smart or clever enough can just die. A great recipe for social unrest, and reform.
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Old 11-20-2007, 11:29 AM
 
2,775 posts, read 3,260,642 times
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Quote:
Originally Posted by cdelena View Post
Statistics do not support the ‘rich get richer and the poor get poorer’ tag line.
A Treasury study examined a large sample of 96,700 income tax returns from 1996 and 2005 for Americans over the age of 25. The study tracks what happened to these tax filers over the 10-year period.
‘Only one income group experienced an absolute decline in real income -- the richest 1% in 1996. Those households lost 25.8% of their income. Moreover, more than half (57.4%) of the richest 1% in 1996 had dropped to a lower income group by 2005.’
‘One of the notable, and reassuring, findings is that nearly 58% of filers who were in the poorest income group in 1996 had moved into a higher income category by 2005.’
Free Article - WSJ.com
What an absolute farce! This study either measured the wrong thing by mistake or on purpose. In any case, it is common knowledge that the very wealthy have been seeing increases in their income levels that way outpace inflation and the falling dollar value and the incomes of the lower and middle classes for many years.

I hate these reports of "the economy is fine and growing" that I keep seeing published everywhere because the truth is much more apparent when you talk with friends and family. Most everyone I know has had stagnant income over the past few years or income which although growing hasn't remotely exceeded the increased costs of taxes, fuel, food, healthcare, insurance, and energy. Of course there's exceptions to the rule, but it isn't what I've been seeing and hearing about in my neck of the woods.
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Old 11-20-2007, 12:15 PM
 
Location: Wherabouts Unknown!
7,805 posts, read 17,587,763 times
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mbuszu wrote:
I hate these reports of "the economy is fine and growing" that I keep seeing published everywhere because the truth is much more apparent when you talk with friends and family. Most everyone I know has had stagnant income over the past few years or income which although growing hasn't remotely exceeded the increased costs of taxes, fuel, food, healthcare, insurance, and energy. Of course there's exceptions to the rule, but it isn't what I've been seeing and hearing about in my neck of the woods.
I'm strongly inclined to agree with you 100%. My interactions with family, friends, and acquaintances seem to verify what you're saying down to a T. Certainly my personal experience does, beyond a shadow of doubt. In my neck of the woods, things are pretty much the same as they are in your neck of the woods.

blessings...Franco
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Old 11-20-2007, 01:00 PM
 
Location: Forests of Maine
32,518 posts, read 52,960,471 times
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Quote:
Originally Posted by mbuszu View Post
...
I hate these reports of "the economy is fine and growing" that I keep seeing published everywhere because the truth is much more apparent when you talk with friends and family. Most everyone I know has had stagnant income over the past few years or income which although growing hasn't remotely exceeded the increased costs of taxes, fuel, food, healthcare, insurance, and energy. Of course there's exceptions to the rule, but it isn't what I've been seeing and hearing about in my neck of the woods.
And what do you think this says?

While the economy is booming and folks are doing great; you, your friends, and your family are doing terrible.

hmm, you do see any trends here?

You, your friends, and your family have the same jobs, with the same incomes; your expenses have gone up, and yet other folk are prospering.

Do you feel anything else that also tells you that you are in a rut?

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Old 11-20-2007, 01:09 PM
 
Location: Wherabouts Unknown!
7,805 posts, read 17,587,763 times
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forest beekeeper wrote:
Do you feel anything else that also tells you that you are in a rut?
I know this was not specifically directed to me, but I can see the truth of your statement as it might apply to me. So, how would you direct someone like myself, who is admittedly stuck in a rut to get out of the rut? I'm already aware of being in a rut. IMO, pointing out to anyone that they are in a rut without showing them a potential escape route doesn't do them any good whatsoever.

blessings....Franco
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Old 11-20-2007, 01:23 PM
 
Location: Forests of Maine
32,518 posts, read 52,960,471 times
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Good point. Telling an alcoholic that they are an alcoholic proves nothing, they already know it, and it does not help.

I apologize.

I found help in the book: "The Millionaire Nextdoor"

I learned that thousands of couples in America each year achieve large Net Worths. Very few of them inherit anything. And many of them do not have huge salaries.

They do it by lifestyle, spending habits and investing. Few invest in the stock market, there is simply too much gambling in stocks to be trustworthy.

I think that if I surround myself with 'losers' then the peer-group thinking that I will absorb with likewise be of that mindset.

There are many small business opportunities that a person can jump into, while you are still carrying the bills with your previous job.

Have you finished a degree yet? Maybe going back and finishing it would be smart.

Otherwise job leaping works well. Update your resume, with what skill sets you have picked in in the last year, and float it around. See what offers you can get. I try to gain another skill set every year.

You can not easily raise your take home pay, but you do have complete control over how much you spend. Cutting spending, gives you more money to invest.

Lifestyle expenses can wipe out folks as much as taxes can. And both can be controlled. Giving you more money for investing.

It depends so much on what things you are good at doing.
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Old 11-21-2007, 01:30 PM
 
201 posts, read 861,020 times
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Quote:
Originally Posted by forest beekeeper View Post

You can not easily raise your take home pay, but you do have complete control over how much you spend. Cutting spending, gives you more money to invest.

I hear this constantly. What happens if you cant cut your spending, yet your income STILL leaves no room for investment? What quality of life are you supposed to accept in exchange for the ability to save a dollar? Seven roommates? Living in the back seat of a third hand car? Starvation?
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Old 11-21-2007, 02:47 PM
 
Location: Forests of Maine
32,518 posts, read 52,960,471 times
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Quote:
Originally Posted by Lethal_Poison View Post
I hear this constantly. What happens if you cant cut your spending, yet your income STILL leaves no room for investment?
That rarely happens.

We started buying grain in 50# bags, back then it was $5 a bag. Now days it costs us $10 a bag. Grinding flour does drop the price of bread.

Between wheat, barley, oats, and corn; you can easily slash most folk's food budgets.

It has worked for us to buy apartment buildings. No money down and a positive cash flow. But you have to be willing to make all repairs yourself and to manage the renters.



Quote:
... What quality of life are you supposed to accept in exchange for the ability to save a dollar? Seven roommates? Living in the back seat of a third hand car? Starvation?
There is no need for anyone in America to starve. Ever. With the possible exception of mental problems.

We are a land of wealth.

If you only made $100/year, you still could not starve. Our socialist system would never allow it.
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