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I totally agree. Starting with nothing, I've already gotten $1 million of the nation's wealth in my name, away from those dirty rotten SOB's in the 1%. And I'm working hard to stay in good health so I can get a lot more of it, too--compounding will help me, the longer I live. They say the first million is the hardest; we'll see.
The rich have been outpacing everyone else for 30 years. The trend long pre-dates Obama. Both Bill Gates and Warren Buffett are for greater income equality and higher taxes on the wealthy.
Lol as you've been told over and over... Buffett business is based on minimizing taxes and Buffett BENEFITS from higher taxes. Look it up.. Google is your friend.
So exactly what are you doing to improve YOUR circumstance or are you actually hoping that the government will make you rich?
Democrats are just feeding off your jealousy for their benefit. It is impossible for the government to make you rich.
I currently have an operational business and am prepping for the launch of my 2nd business (or 1st, depending on how you look at it).
If I wanted I could go back to nearly any of my past jobs and pursue those careers as well.
Jealousy? Of what?
I speak of inherited wealth because I was born into a "successful" family. I'm a 3rd generation business owner. My father went from the projects (literally) to upper middle class in less than 20 years.
Advocating for a healthier Economy is not the same as being envious of other's wealth. It's a nice deflection though for those who don't truly understand Economics.
Some of us are just not greedy and see how our current economic state is negatively impacting the population.
Keep up with the "jealousy, and envious" rhetoric though. It's pretty amusing. Especially coming from all you millionaires.
To change that, you'll have to actually educate American liberals and alter their mindset to accept the truth: progressive tax systems promote huge income gaps to maximize tax revenue; regressive tax systems promote greater income equality because the tax base is much wider.
I was just wanting to make the distinction. I think it matters not only what someone's net worth is, but how they acquired it.
Did they get it from mommy and daddy? Did they earn it? Were they innovators or excellent in their field?
I truly respect the innovators and entrepreneurs. One of the hardest things I've ever done in my life is run a business.
In 2007 wealth transfers (mainly inheritances, but also including gifts) made up an average of 14.7 percent of the total wealth of those who classify as the top 1 percent in terms of wealth. This is actually a decline from the past. In 1992, 27 percent of the wealth of the top 1 percent came from wealth transfers.
Moreso than any time in the last 20 years the wealthy are earning their money as opposed to inheriting it.
My point is Obama didn't go after the super rich that so many hate, because the bottom does not understand how money works (part of the reason they are poor) Obama was able to easily sell a big lie.
To change that, you'll have to actually educate American liberals and alter their mindset to accept the truth: progressive tax systems promote huge income gaps to maximize tax revenue; regressive tax systems promote greater income equality because the tax base is much wider.
Not all of those top earners earned their wealth. The Walton heirs didn't earn their wealth. That was the point I was making.
Your last paragraph is too simplistic and not exactly true. Taxes are only one factor that comes into play when discussing income inequality.
Not all of those top earners earned their wealth. The Walton heirs didn't earn their wealth. That was the point I was making.
Your last paragraph is too simplistic and not exactly true. Taxes are only one factor that comes into play when discussing income inequality.
Oh for gods sake, The majority started with nothing and earned their wealth. But your answer is to punish the majority because of a VERY FEW. As long as people think like you nothing will get better. Cary on...
More than 2/3 of the top 400 did earn it. That's a pretty large majority.
When looking at millionaire status (net worth of at least $1 million), which is 1.7% of the U.S. population, about 80 percent are first-generation wealthy. The Millionaire Next Door
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