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Old 12-04-2012, 09:52 AM
 
4,738 posts, read 4,436,224 times
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Anger at the rich is a normal bi-product of a growing divide in incomes, and the inability to provide realistic opportunities for persons to excel. Te reality is that if you are a human being and you see a rich person, but know its open to you - you will want to be like the rich. If there is no path, then you will despite, hate, and eventually seek to destroy. source: History



Quote:
Originally Posted by clb10 View Post
The rich generate a lot of anger in America. Most feel that they skirt by without paying the price to be an American.

Do you feel that they need to pay a lot more in taxes to fix our economy?

How to Pay No Taxes: 10 Strategies Used by the Rich - Businessweek
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Old 12-04-2012, 09:58 AM
 
Location: West Coast of Europe
25,947 posts, read 24,752,932 times
Reputation: 9728
Quote:
Originally Posted by clb10 View Post
The rich generate a lot of anger in America. Most feel that they skirt by without paying the price to be an American.

Do you feel that they need to pay a lot more in taxes to fix our economy?

How to Pay No Taxes: 10 Strategies Used by the Rich - Businessweek
I like the Obama pic. I absolutely hate it when people consider themselves above others. I remember an invitation I could not refuse and when the maid served me dinner, I felt so embarrassed and bad.

Anyway, on topic, I feel none of the options, just pity as rich people are unwise and immature people in my view.
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Old 12-04-2012, 09:59 AM
 
420 posts, read 335,301 times
Reputation: 124
Quote:
Originally Posted by ChrisFromChicago View Post
Anger at the rich is a normal bi-product of a growing divide in incomes, and the inability to provide realistic opportunities for persons to excel. Te reality is that if you are a human being and you see a rich person, but know its open to you - you will want to be like the rich. If there is no path, then you will despite, hate, and eventually seek to destroy. source: History
Though I agree (yes, history is a great source), we are a long, long way from such a breaking point.
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Old 12-04-2012, 06:34 PM
 
10,553 posts, read 9,653,382 times
Reputation: 4784
Quote:
Originally Posted by InformedConsent View Post
Not according to the U.S. Government. Total household net worth is $66.75 trillion. One percent of that is $667.5 billion.
Wealth and Asset Ownership - People and Households - U.S. Census Bureau

2008 data:
Americans See 18% of Wealth Vanish - WSJ.com

By definition, they own 1% of the wealth. That's what makes them the top 1%.
No no no no.

There's the top 1 % of wealth owners:

http://www.currydemocrats.org/in_per..._pie_chart.png

And then there's the top 1 % of income earners. THose are the ones that Obama wants to increase marginal federal income taxes on by a few per cent.

Income earners and % of total U.S. income they take in:

Top 1% = $368,238 (20.9% of income)
Top 0.5% = $558,726 (16.8% of income)
Top 0.1% = $1,695,136 (10.3% of income)
Top 0.01% = $9,141,190 (5% of income)

http://www.currydemocrats.org/american_pie.html

http://www.ritholtz.com/blog/2011/10...t-the-top-0-1/

Last edited by CaseyB; 12-05-2012 at 04:10 AM..
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Old 12-04-2012, 07:34 PM
 
28,164 posts, read 25,315,035 times
Reputation: 16665
Quote:
Originally Posted by Georgianbelle View Post
You cannot judge everyone based on your experiences. Some family's prepare for children and college, and some do not. Do we penalize everyone who has done what they could to insure success for themselves and their heirs? If I am self-made, and I make my children wealthy, why is that wrong? Isn't it my wealthy to do with what I choose. I am sick of hearing people whine because of the poor choices they or their family made. Trying to make everyone financially equal will destroy this country like it has every other country that has tried it.
It isn't wrong. And the rich are not being penalized. If I, as someone who could be classified as poor but self identify as middle class, can understand/appreciate the element of luck in life AND apply that understanding to giving others a hand up, I sincerely do not understand why those with much more resources than I fail to do so.

It isn't about making people financially equal. It is about giving everyone equal opportunity.
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Old 12-04-2012, 07:36 PM
 
28,164 posts, read 25,315,035 times
Reputation: 16665
Quote:
Originally Posted by ObserverNY View Post
SO WHAT? You were the one bemoaning individuals who inherit wealth, claiming they don't pay their fair share, implying that everyone who is rich inherited it. There are many, many VERY wealthy people who did NOT inherit their wealth, who came from working class backgrounds and who made it big because of their own hard work and talent. But you think, "Wah, wah, no fair, every rich person should help those less fortunate by giving more of their hard earned money to .gov to redistribute" (which we know .gov does so efficiently and fairly)

Class warfare at its ugliest. Maybe I'll just call you Julia.
Who's Julia?


I don't think "wah, wah, wah". I think, "How can I help even things out for others who have not had the same upbringing/luck/opportunities as I have?" Terrible, I know.
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Old 12-04-2012, 09:14 PM
 
Location: the very edge of the continent
89,059 posts, read 44,853,831 times
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Quote:
Originally Posted by buzzards27 View Post
Don't be stupid. The top 1% to most THINKING PERSONS means the top 1% of the tax unit (households)
Nope. The top 1% of income earners is NOT the same group as the top 1% of wealth owners though there is some overlap. More details here:
Measuring the Top 1% by Wealth, Not Income - NYTimes.com
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Old 12-04-2012, 09:18 PM
 
Location: the very edge of the continent
89,059 posts, read 44,853,831 times
Reputation: 13718
Quote:
Originally Posted by ellemint View Post
No no no no.

There's the top 1 % of wealth owners:
That's where you're making your mistake. "Control" is not the same as "own."

Your link specifically says "control," not "own."
Quote:
"Today the top 1 percent of Americans control 43 percent of the financial wealth"
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Old 12-04-2012, 09:35 PM
 
Location: Hinckley Ohio
6,721 posts, read 5,203,749 times
Reputation: 1378
Quote:
Originally Posted by InformedConsent View Post
Nope. The top 1% of income earners is NOT the same group as the top 1% of wealth owners though there is some overlap. More details here:
Measuring the Top 1% by Wealth, Not Income - NYTimes.com
Please stop the nonsense, you're smarter than that. The top one percent, by definition is 1% of all households with the highest wealth.

I never mentioned income.

And your statement about the top 1% based on wealth meaning 1% of the total wealth is beyond stupid. I was actually embarrassed for you.
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Old 12-04-2012, 09:38 PM
 
Location: the very edge of the continent
89,059 posts, read 44,853,831 times
Reputation: 13718
Quote:
Originally Posted by buzzards27 View Post
Please stop the nonsense, you're smarter than that. The top one percent, by definition is 1% of all households with the highest wealth.

I never mentioned income.
Hmmm...
Quote:
Originally Posted by buzzards27 View Post
Don't be stupid. The top 1% to most THINKING PERSONS means the top 1% of the tax unit (households)
Tax units are grouped by income.
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