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I've gladly paid my taxes all my life. I especially am happy that a portion goes to people on welfare, instead of all of it going for corporate welfare. Haliburton made billions off the war and moved to the middle east so their war profits wouldn't be taxable. GE and other major corporations pay no tax at all. That's OK with me. I worked my way up from nothing and have enough to be comfortable. Never wanted or would want to be rich. I wouldn't like the company. Many people who got rich did it the old fashion way, cheating, double dealing and stealing. That's generally how people become rich.
Quote:
Originally Posted by Electrician4you
That’s funny. Because I know plenty of people who are now considered wealthy and they had humble beginnings like clerks or butchers construction workers real estate agents etc.
The tax code is the same. It’s not like there is a tax code for the rich and a tax code for the poor. It’s funnny how people say the rich take advantage of the tax code.
If you invest in something and you end up selling at a loss you deduct that loss. Rich or “poor”. The reason the poor don’t get those deductions is because they are too busy buying worthless trinkets instead of learning how invest to be wealthy.
For example doing the standard deduction for me is not beneficial at all. I can’t deduct children as none are applicable. My taxes go to schools even though I have no kids.
Jeff Bezos started life poor. His parents did not give him his wealth.
Paul Allen's mom was a librarian, his dad was associate director of the University of Washington Libraries., Middle class at best.
Ralph Lauren was born poor
Howard Shultz of Starbucks grew up in a housing complex for the poor.
John Paul DeJoria grew up poor. He was living on the streets when he started Paul Mitchell Systems.
Larry Ellison dropped out of school when his adopted mother past away. He worked odd jobs before getting into Tech. He started Oracle in 1977.
Oprah Winfrey grew up poor.
Kirk Kerkorian had to start working when he was 9 to help support his family. He dropped out of the 8th grade to become a boxer
Ken Langone's dad was a Plumber his mom was cafeteria worker. He went to school and earned an MBA. Ended up partnering with Ross Perot and made a lot of money when Electronic Data System sold. He then helped found Home Depot.
David Murdock did not graduate from high school until 2009. He is in his 80's I think. He started with a $700 loan and rebuilt a diner then flipped it to make money. Eventually he built a real estate empire that included Dole Foods and Castle-Cooke. He also built Lake Sherwood Country Club not too far from where I live.
All of these people started with much less than I have and have much more than any of us have now. It is possible to start with nothing and build something out of it.
I started with nothing and still have most of that.
I've gladly paid my taxes all my life. I especially am happy that a portion goes to people on welfare, instead of all of it going for corporate welfare. Haliburton made billions off the war and moved to the middle east so their war profits wouldn't be taxable. GE and other major corporations pay no tax at all. That's OK with me. I worked my way up from nothing and have enough to be comfortable. Never wanted or would want to be rich. I wouldn't like the company. Many people who got rich did it the old fashion way, cheating, double dealing and stealing. That's generally how people become rich.
Wow, none that I know did what you are saying. People that I know that are rich worked for it. That is the old fashion way of getting rich. Anyone can become rich. It is easy to become a Millionaire in todays world. Then again a Million aint what it used to be. My thought is that it takes $15 million to have the funds live a comfortable life. You won't be rich and won't be able to anything that you want but you will have the remainder of life covered. Since I am working my wife and I feel that it takes $5 million to retire, something very different then living a comfortable life. With $100 million you can tell just about anyone to stick it.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,574,670 times
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Quote:
Originally Posted by bobspez
I've gladly paid my taxes all my life. I especially am happy that a portion goes to people on welfare, instead of all of it going for corporate welfare. Haliburton made billions off the war and moved to the middle east so their war profits wouldn't be taxable. GE and other major corporations pay no tax at all. That's OK with me. I worked my way up from nothing and have enough to be comfortable. Never wanted or would want to be rich. I wouldn't like the company. Many people who got rich did it the old fashion way, cheating, double dealing and stealing. That's generally how people become rich.
This is funny to me. Much of this is what I hear from people that aren't well off themselves and want to feel better about it. They assume because they couldn't make it that those that did must have cheated and are not nice people.
I've met a lot of that simply didn't want to work that hard to achieve wealth. Instead of working a 2nd job, furthering their education, they went out drinking or stayed home watching sports on tv all day.
Sure some people got rich cheating.
Many also got rich doing it another old fashion way, hard work.
IMO the economy is doing fine, it is just that land is expensive.
It isn't as if the cost of building a structure is all that much, in my opinion -- but go look at buildable infill lots in any town or city of any size, the cost is astronomical.
it is a negative consequence of democracy. people believing that they have a right to force their preferences on others. it doesnt have to be that way and there is no benefit to it.
I see. There is no benefit to the taxation of undesirable activities nor to the reward of beneficial activities. That's a bit of an odd world that you live in. On the plus side, at least it's not crowded.
All of these people started with much less than I have and have much more than any of us have now. It is possible to start with nothing and build something out of it.
With and now without Grouch Marx, the US continues to rank near the bottom among developed countries in terms of inter-generational economic mobility. If you are born here into the bottom 20% by income, the chances of your rising above it are slim. If you are born into the top 20% by income, your chances of falling out of it are even slimmer.
Sure some people got rich cheating. Many also got rich doing it another old fashion way, hard work.
Nobody claimed that cheating is not hard work. Just that it's cheating
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