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Old 02-16-2014, 06:36 PM
 
Location: Heartland Florida
9,324 posts, read 24,734,037 times
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Rigged markets, "free trade" and government control of markets. The fields that are the most regulated reap huge profits for those well connected. This is financed by inflation that eats away at the living standards of the working and productive. The latest scam to make the 1% richer is QE infinity.

Quantitative easing - Wikipedia, the free encyclopedia

Those that are well connected can never fail, unless they are eliminated like a leech sucking the blood from its host.
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Old 02-16-2014, 06:41 PM
 
Location: The Land of Reason
13,241 posts, read 11,135,338 times
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The majority of the 1% (Rockerfellas, Scaifes, Bushes) came from old money and built on it through connections by both by legal and illegal means. There is a smaller portion of the new 1% (Bill Gates, Mark Zuckerberg) who were in the right place at the right time and actually contributed things that most of us are aware of or use. Quiet as it is kept they have had shady dealings in their past as well. These are the "job creators" that some people are lead to believe that they can become through hard work. The last group are the heirs of the 1st group who have done nothing other to be born into wealth and have contributed nothing (Waltons, Hiltons ect).
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Old 02-16-2014, 06:47 PM
 
Location: PA
2,113 posts, read 2,050,548 times
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Quote:
Originally Posted by manbylake View Post
There were studies that show that the majority of wealth in America today is self-made. Every crisis brings opportunities. It's always a matter of finding and creating these opportunities. Rich people come with all backgrounds. But what most of them share is not just "smartness," but street-smartness, business smartness, risk tolerance, and focus. Successful people have excellent skills in communication, leadership, time management, and work-life balance. They work hard and play hard. They see complex things in simple terms. They let go what doesn't matter and concentrate on what does. They are not satisfied with the status quo, and not willing to simply follow scripts by other middle level people.

The thing is most people who complain about CEOs, if given the opportunity, simply cannot do a CEO's job. Period.
Just out of curiosity, and I'm not trying to start an argument, but what studies have you seen that show that the 1% specifically were self made? Are you talking about aggregate wealth? And what exactly constitutes "self-made"? The Horatio Algernonsense of a random person born in dire circumstances who just happened to acquire a fortune, independent of mentors, employees, favorable legislation and other conditions, has got to go.
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Old 02-16-2014, 06:58 PM
 
894 posts, read 785,456 times
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Quote:
Originally Posted by Pinkmani View Post
I'm not envious at all. I'm just wondering how the 1% got so rich, so that I could do the same.
Uh huh. Sure.

Generally, those who talk about "1%" people have an agenda of some sort.
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Old 02-16-2014, 06:58 PM
 
11,108 posts, read 10,675,507 times
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Quote:
Originally Posted by iowa4430 View Post
Class envy. Sigh. The class warfare is working. THANKS OBAMA!
There is nothing wrong with scrutinizing how and why someone became wealthy.

First, you might learn from it and emulate the example in some way.

Second, some people derive wealth through illegal means (drug dealing, etc.) and that is everyone's business.

Third, it helps us evaluate our tax structure. If someone like Romney is paying 14% of their income as tax, its a clue that we need to revamp our system, so that he and those like him pay more.

Fourth, I will concede there are some people out there who may be guilty of "class envy" as you put it. However, many others aren't envious at all. We'd just like a full picture of what is going on in this country. Some things aren't right and eventually the pressure will build to fix them.
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Old 02-16-2014, 07:05 PM
 
Location: moved
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I would opine that quite a few people who are reading this thread have the education, discipline and remaining lifespan to become millionaires, at least nominally. Some are there already. Some might even be knocking on the 1% threshold. But is this genuine wealth? When I think of "wealthy", I think of $100M+. And those amounts, for nearly all of us, are genuinely unattainable.

Quote:
Originally Posted by in_newengland View Post
Most people I know who are very rich either inherited it and then turned it into profitable investments OR they were middle class and were driven to become a millionaire.
We should note that the “middle class millionaires” – the well-compensated professionals, savvy investors and small businessmen who towards the declining side of middle-age have amassed a couple million dollars – are not 1%ers. Even those who have crossed the magic 1% threshold aren’t genuinely wealthy. For wealth you’d have to examine the top 10% of the top 1%, or even further. And most of those people didn’t climb to their lofty perch from being good lawyers or doctors or small business owners, who started early, saved prodigiously and invested wisely.

Quote:
Originally Posted by manbylake View Post
...most people who complain about CEOs, if given the opportunity, simply cannot do a CEO's job. Period.
Indeed, most people could not. But every huge corporation of 30,000 people has hundreds of senior managers, directors, senior-scientists/engineers etc. who could conceivably do a better job than the incumbent CEO, but will never rise. To reiterate, of the 30,000 people in the company, perhaps 500 are worthy of the top echelons. Of those 500, maybe 20 will get there. So of course it takes talent, motivation, skills, preparation and so forth. But it also takes luck, human-relations skills and other, less than savory aspects of character.


Quote:
Originally Posted by BigJon3475 View Post
Not really. Access to global markets and a very large and growing world wide middle class is how the 1% are getting so fabulously wealthy.
An excellent point! What drives the income of the 1% is corporations having more products to sell, or in other words, corporate profits. The American consumer is saturated. So who are these new consumers, who would buy new products? They are the global middle class, the hundreds of millions of former subsistence-farmers who finally have enough wherewithal to buy household appliances, electronics, internet access, brand-name household products, etc.


Quote:
Originally Posted by simetime View Post
The majority of the 1% (Rockerfellas, Scaifes, Bushes) came from old money and built on it through connections by both by legal and illegal means. There is a smaller portion of the new 1% (Bill Gates, Mark Zuckerberg) who were in the right place at the right time and actually contributed things ....
These are not the 1%. They are the 0.001%.
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Old 02-16-2014, 07:12 PM
 
Location: The Land of Reason
13,241 posts, read 11,135,338 times
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Quote:
Originally Posted by james777 View Post
One should also remember that after Mitt Romney graduated from Brigham Young University, he entered a joint program of Harvard Law School and Harvard University Business School, studying toward a law degree and an MBA. He was able to take both programs and do well in them, which is very rare even for an Ivy League student. Those who graduate from such programs do not end up living in poverty.

Also take into consideration that he did not have the burden of worrying about paying for his education either. For anyone who had to work their way through college knows that can have a great affect on your GPA
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Old 02-16-2014, 07:14 PM
 
894 posts, read 785,456 times
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ahh....the fair share argument.

We do not have a revenue problem in this country. We have a SPENDING problem in this country. A spending problem with our politicians who spend money we don't have.

It's sad and foolish that so many of you spend so much time demonizing the "rich" (define rich please) when in all actuality, you should be demonizing and scrutinizing our gov't leaders. Politicians are THE PROBLEM and are the worst of the worst issues in our society.

The "rich" simply operate within the bounds that the gov't sets. Nothing happens in regards to the "rich" unless there is a slimy politician standing there with their hand out. Crazy how people don't get that.

Imagine for just one second if politicians weren't allowed to receive lobby $. Imagine if they weren't allowed to implement pork barrel spending and hiding billions and trillions of wasteful spending inside bills.

Imagine if being a politician wasn't a full time job? Imagine if their SOLE purpose once elected wasn't just to GET RE ELECTED!

Imagine if the politicians actually answered to the people and didn't set their own salaries and benefits. Didn't simply ignore things that the public clamors for simply because they know it would negatively impact their way of doing things. They stand right there in front of us and LIE. Lie about things that just happened that everyone can see yet the minions just nod in agreement because they love them some political power! Idiots

Politicians are the problem. yet THE POLITICIANS and the complicit media have convinced ALL of you that it's the "rich" people who are taking money from you. LOL. Just a bunch of sheep.

The "rich" pay more than their "fair share".

Someone define "rich".

And stop acting like there is one big pie of wealth and money out there and these darned "rich" people took it all and there isn't any left for the rest of us. BS.

/rant
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Old 02-16-2014, 07:21 PM
 
11,108 posts, read 10,675,507 times
Reputation: 35615
Quote:
Originally Posted by iowa4430 View Post
ahh....the fair share argument.

We do not have a revenue problem in this country. We have a SPENDING problem in this country. A spending problem with our politicians who spend money we don't have.

It's sad and foolish that so many of you spend so much time demonizing the "rich" (define rich please) when in all actuality, you should be demonizing and scrutinizing our gov't leaders. Politicians are THE PROBLEM and are the worst of the worst issues in our society.

The "rich" simply operate within the bounds that the gov't sets. Nothing happens in regards to the "rich" unless there is a slimy politician standing there with their hand out. Crazy how people don't get that.

Imagine for just one second if politicians weren't allowed to receive lobby $. Imagine if they weren't allowed to implement pork barrel spending and hiding billions and trillions of wasteful spending inside bills.

Imagine if being a politician wasn't a full time job? Imagine if their SOLE purpose once elected wasn't just to GET RE ELECTED!

Imagine if the politicians actually answered to the people and didn't set their own salaries and benefits. Didn't simply ignore things that the public clamors for simply because they know it would negatively impact their way of doing things. They stand right there in front of us and LIE. Lie about things that just happened that everyone can see yet the minions just nod in agreement because they love them some political power! Idiots

Politicians are the problem. yet THE POLITICIANS and the complicit media have convinced ALL of you that it's the "rich" people who are taking money from you. LOL. Just a bunch of sheep.

The "rich" pay more than their "fair share".

Someone define "rich".

And stop acting like there is one big pie of wealth and money out there and these darned "rich" people took it all and there isn't any left for the rest of us. BS.

/rant
Its your opinion we have a "spending problem" rather than a revenue problem.

I personally want a government able to pay for programs like social security, medicare, and national defense. Those items make up 75% of the federal budget. Or did you know that?

Which of those do you want to cut, so we don't have tax the wealthy at a 39% rate?
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Old 02-16-2014, 07:24 PM
 
3,201 posts, read 3,878,775 times
Reputation: 4431
any rich people on CD that feels guilty or is guilty...i will gladly take some of the weight off your shoulders pm me!
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