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Old 02-12-2015, 11:55 AM
 
3,792 posts, read 2,386,010 times
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Quote:
Originally Posted by rbohm View Post
you might want to actually READ the article again, its says 268 new billionaires were added to the club. but why are you attacking the tea party? they didnt have anything to do with it, the people that made the money did.
The post was dated back in 2011. so it mint have been updated in between then and now.
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Old 02-12-2015, 12:05 PM
 
549 posts, read 457,085 times
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Quote:
Originally Posted by ContrarianEcon View Post
People don't have $100 million in cash.
That's exactly my point to Mwahfromtheheart

Quote:
Originally Posted by ContrarianEcon View Post
Because the FED gave you that loan at even less interest.
And this is yet another good reason to reform (or at least to audit) the Fed. Unfortunately, the left objects to this.
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Old 02-12-2015, 02:03 PM
 
Location: New Orleans, LA
1,291 posts, read 1,524,025 times
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Quote:
Originally Posted by vvega View Post
Please, enlighten us how one can be "sitting on a pile of cash" without being hit by "inflation tax".
They can be, but it doesn't affect them. You know exactly what I mean, or do I really need to simplify it for you?
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Old 02-12-2015, 03:14 PM
 
549 posts, read 457,085 times
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Quote:
Originally Posted by Mwahfromtheheart View Post
They can be, but it doesn't affect them. You know exactly what I mean, or do I really need to simplify it for you?
Yes, please, simplify it for me.
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Old 02-12-2015, 03:28 PM
 
Location: New Orleans, LA
1,291 posts, read 1,524,025 times
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Quote:
Originally Posted by vvega View Post
Yes, please, simplify it for me.
A pile of cash is a metaphorical term meaning a lot of money in the bank account. Inflation doesn't mean anything to somebody who has nearly unlimited resources. But it does mean something to somebody who pays 33% of their income on shelter.
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Old 02-12-2015, 03:51 PM
 
549 posts, read 457,085 times
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Quote:
Originally Posted by Mwahfromtheheart View Post
A pile of cash is a metaphorical term meaning a lot of money in the bank account. Inflation doesn't mean anything to somebody who has nearly unlimited resources. But it does mean something to somebody who pays 33% of their income on shelter.
There's no such a thing "unlimited resources". People do not get rich by keeping money in the bank. The wealth of the new billionaires is not in their bank accounts, but in shares of successful businesses that they built. The vast majority of these businesses are asset-poor, and their value is based on future returns. These future returns won't happen without good management and dedication of the owners.
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Old 02-12-2015, 04:09 PM
 
Location: New Orleans, LA
1,291 posts, read 1,524,025 times
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Quote:
Originally Posted by vvega View Post
There's no such a thing "unlimited resources". People do not get rich by keeping money in the bank. The wealth of the new billionaires is not in their bank accounts, but in shares of successful businesses that they built. The vast majority of these businesses are asset-poor, and their value is based on future returns. These future returns won't happen without good management and dedication of the owners.
Right. Asset poor. I'm sure Bill Gates has trouble paying for healthcare.
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Old 02-12-2015, 04:40 PM
 
549 posts, read 457,085 times
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Quote:
Originally Posted by Mwahfromtheheart View Post
Right. Asset poor. I'm sure Bill Gates has trouble paying for healthcare.
The vast majority of Americans have no trouble paying for healthcare. Those who do, should start looking for the reason in the mirror. Envy will bring them nowhere.
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Old 02-12-2015, 05:31 PM
 
Location: New Orleans, LA
1,291 posts, read 1,524,025 times
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Quote:
Originally Posted by vvega View Post
The vast majority of Americans have no trouble paying for healthcare. Those who do, should start looking for the reason in the mirror. Envy will bring them nowhere.
You're right. The vast amount of Americans can pay for healthcare, until they get sick. Have you seen bankruptcy rates and how they correlate with health care?

NerdWallet Health finds Medical Bankruptcy accounts for majority of personal bankruptcies - NerdWallet

Medical Bankruptcies are Still a Problem, Here's What to Expect | Fox Business

HealthCare Costs #1 Cause of Bankruptcy

Did you know the cost to treat Multiple Sclerosis can be as high as $70,000 a year? How do you tell a family caring for a severely epileptic child to go to work and not worry about your kid?
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Old 02-12-2015, 05:59 PM
 
549 posts, read 457,085 times
Reputation: 507
Quote:
Originally Posted by Mwahfromtheheart View Post
You're right. The vast amount of Americans can pay for healthcare, until they get sick. Have you seen bankruptcy rates and how they correlate with health care?

NerdWallet Health finds Medical Bankruptcy accounts for majority of personal bankruptcies - NerdWallet

Medical Bankruptcies are Still a Problem, Here's What to Expect | Fox Business

HealthCare Costs #1 Cause of Bankruptcy

Did you know the cost to treat Multiple Sclerosis can be as high as $70,000 a year? How do you tell a family caring for a severely epileptic child to go to work and not worry about your kid?
Sorry about your situation. I know costs of medical services are crazy. I just don't understand why liberals oppose
1. Stopping enforcing hospitals to provide illegal immigrants "free" healthcare. A significant chunk of those $70,000 is recovering costs of caring for people who are not even supposed to be here.
2. Tort reform, especially making losers pay in medical litigations. This would stop irresponsible lawsuits and defensive medicine.
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