How did the 1% get so rich? (bankrupt, free market, credit, mortgage)

[espn_lies]

How many attended Ivy league schools?

It's a buddy system. Daddy gets you into the school and then your school gets you a job

[Yosh01]

Originally Posted by iowa4430

I would argue that one of the biggest reasons for the income and wealth disparity lies more in the fact that the non productive in our society are the big breeders. when these people breed, who do they generally breed with and what do they produce?

I would agree that the wealthy, Romney for example, have large families and tend to breed within their class, but I don't see any evidence for this being a cause of income disparity. You're statement is merely an opinion.

[Wolfpacker]

Originally Posted by Pinkmani

Lies you tell... There's no way! That doesn't make sense.

You're saying by donating "huge" amounts to charities, he was able to lower his tax portion by 21%?

ETA: Tax brackets for his income would be 35%.





Well, I beg to differ. If he's taking home money from investments from his corporation, he can use corporate tax write-offs. The less you pay in taxes, the more money you have in your wallet. When the supervisor at my old job doesn't use the whole budget, he gets to take the rest home as a bonus, despite the fact that the place looks like sh*t and is in dire need of repairs.

You're confusing income tax with capital gains taxes. Most wealthy usually generate their wealth from the sale of their equity holdings, dividends, and bonds (municipal bonds are tax-free). However, this tax difference isn't just a "rich person" tax. You and I, if we sell stock, a second home, bonds, ect. would filed under the same capital gains tax as the wealthy, and usually at a lower rate-depending upon the yearly income.

Originally Posted by blktoptrvl

The Self-Made Myth

The self made myth. 60% gained their wealth through inheritance or privilege.

Yeah, no bias or agenda in these "studies," which offer rather little supporting detailed information and evidence.

Originally Posted by espn_lies

How many attended Ivy league schools?

It's a buddy system. Daddy gets you into the school and then your school gets you a job

I like when people post this nonsense...always seems to come from people who couldn't get into these schools within the last 15-20 years.

[iowa4430]

Originally Posted by Mr.BadGuy

It is useful to understand who is earning the money vs. passing it down from person to person or corporation to person. It is also useful to understand why we transformed from a prosperous nation with a fast-growing middle class to a country where half of all people are low income or poor.

I will say it again. It isn't because the "rich" is taking $ or opportunity away from the poor and the middle class.

The reason the low income and poor are growing at an alarming rate is because they breed at such a high rate. Not only that, they are breeding with each other. The bi-product of that union can be pretty easily predicted.

Stop blaming the rich. Blame the individual.

Blame the politicians and a certain political group for promoting dependency on the gov't and an environment of diminished personal responsibility.

It's fun and very convenient to buy into the schtick that it's the rich guys fault. but it's ignorance. Some of it is intentional, much of it is not. People tend to believe what they are told by their "leaders" and what is spoon fed to them in the media.

[iowa4430]

Originally Posted by Yosh01

I would agree that the wealthy, Romney for example, have large families and tend to breed within their class, but I don't see any evidence for this being a cause of income disparity. You're statement is merely an opinion.

LOL. It's quite scary that you may actually believe that. It probably is a typical distraction/misdirection to take away from the real issue because it hits close to home politically.

We actually NEED more people like Romney to breed at a high rate. We need more and more of the successful and the producers in our country to breed at a higher rate.

Look around you. How many children to the more successful people you know have? Now, look around at your family or people you know or at many that you see at Walmart etc. that are the dregs of society. The takers are breeding at an alarming rate.

[go-getta-J]

Originally Posted by iowa4430

LOL. It's quite scary that you may actually believe that. It probably is a typical distraction/misdirection to take away from the real issue because it hits close to home politically.

We actually NEED more people like Romney to breed at a high rate. We need more and more of the successful and the producers in our country to breed at a higher rate.

Look around you. How many children to the more successful people you know have? Now, look around at your family or people you know or at many that you see at Walmart etc. that are the dregs of society. The takers are breeding at an alarming rate.

What a bunch of elitist tripe....why don't we just go back to in-breeding like the enlightened royals did to keep bloodlines pure and other such nonsense? Who are you to deem who is fit to breed and who is not? To me that is even more scary that there are still people out there who advocate eugenics and selective breeding.

Those "dregs of society" you speak of are people who lack education and knowledge because its not in capitalism's best financial interests to have educated, informed, and politically active citizens who are hard to manipulate into buying worthless junk made by the so-called enlightened "producers"

The irony of your "takers vs. makers" argument is that as much as the producers look down on the so-called "takers," without those worthless parasites spending money and buying their products and making the CEOs and shareholders profits, there would be no reason to produce anything.

Without continued population growth (which you are against) and a strong consumer base (you probably think the dregs don't even deserve minimum wage) this whole economic system goes up in smoke along with your half-baked theory about us needing more Romney Jr's running around. No reason for them to be a corporate raiders if there is nothing left to raid after all....

[iowa4430]

You put a lot of words in my mouth and made a LOT of assumptions and crazy leftist anti-capitalism blather. Business as usual with the leftists. It's obvious you are one of the "hate the rich" crowd.


Oh, and I never said I'm against population growth. Anyone with even half a brain can deduce that non-productive people out breeding the productive is a bad thing. More Romney type people/families and less multi-generational welfare baby momma's is a good thing. RIGHT?

[go-getta-J]

Originally Posted by iowa4430

You put a lot of words in my mouth and made a LOT of assumptions and crazy leftist anti-capitalism blather. Business as usual with the leftists. It's obvious you are one of the "hate the rich" crowd.

So be it. You hate poor people and minorities. Business as usual with authoritarian "free-market" fundamentalists. Now we're even.

[simetime]

Originally Posted by ringwise

And you think Romney didn't? I'm guessing what he did was a little harder than sitting in front of a camera talking.

You are comparing aplles to cars. O made her money on her own Mitt got a head start from his WEALTHY father. If you already have access to a million it is easier to make two million

[simetime]

Originally Posted by sentry12

come to think of it, if Mitt Romney got elected for president and did that with tax payers money, the US wouldn't have these debt problems. oh well, democracy had other plans (Obama).

This country would have still been in the same situation, except for the ACA law. The president is not the only one that controls how money flows in this country. Do you know anything about the Federal Reserves or even the Congress roles in monetary policy in this country?