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Old 01-29-2014, 12:16 PM
 
Location: the very edge of the continent
89,000 posts, read 44,813,405 times
Reputation: 13699

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Quote:
Originally Posted by Memphis1979 View Post
Most wealth is inherited by people who didn't earn it.
Completely false.
Quote:
Wealth transfers — inheritances and gifts combined — constitute a small part of the holdings of the rich, whether you define “rich” in terms of income or net worth. For the top income quintile, gifts and inheritances amount to 13 percent of household wealth, according to research published by the Bureau of Labor Statistics. For the top wealth quintile, they amount to 16 percent. For the hated “1 percent,” inherited wealth accounts for about 15 percent of holdings. ...Meanwhile, inherited money makes up 43 percent of the wealth of the lowest income group and 31 percent for the second-lowest.
The Working Rich

 
Old 01-29-2014, 12:21 PM
 
Location: San Diego, CA
10,581 posts, read 9,782,576 times
Reputation: 4174
Quote:
Originally Posted by lifeexplorer View Post
One time I was in a very liberal city watching the Occupy demonstration. Every one of them had a soda, cell phone, shoes, cloth etc etc. produced by the evil rich and blood sucking large corporations.

I laughed so hard and I actually took a picture of it.
Don't forget the $5,000 Mac computers some of them complained their fellow Occupy-ers stole from them.

Thieves preying on fellow protesters | New York Post

 
Old 01-29-2014, 12:23 PM
 
Location: the very edge of the continent
89,000 posts, read 44,813,405 times
Reputation: 13699
Quote:
Originally Posted by lifeexplorer View Post
One time I was in a very liberal city watching the Occupy demonstration. Every one of them had a soda, cell phone, shoes, cloth etc etc. produced by the evil rich and blood sucking large corporations.

I laughed so hard and I actually took a picture of it.
I'm sure quite a few were sipping Starbucks, as well. I would have laughed my azz off at that sight, as well.
 
Old 01-29-2014, 12:24 PM
 
26,694 posts, read 14,561,042 times
Reputation: 8094
What really puzzles me is that if the people constantly whining about the rich spend half of that energy, they would become rich themselves.

In the book of Millionaire Next Door, there's an example that a person became millionaire with $80,000 annual income.
 
Old 01-29-2014, 12:28 PM
 
215 posts, read 351,058 times
Reputation: 251
Simply, their obstacles are few. They often write the rules that govern their industry. They receive as much corporate welfare as any poor segment would receive in assistance. There have been numerous studies that characterize rich people’s behavior similar to a psychopath’s behavior.
The rich usually only show compassion if a relative or child gets a weird disease, has a particular problem that gets them into constant personal trouble, otherwise they don’t really care about how others live.
 
Old 01-29-2014, 12:32 PM
 
26,694 posts, read 14,561,042 times
Reputation: 8094
Quote:
Originally Posted by Dog_Gone View Post
Simply, their obstacles are few. They often write the rules that govern their industry. They receive as much corporate welfare as any poor segment would receive in assistance. There have been numerous studies that characterize rich people’s behavior similar to a psychopath’s behavior.
The rich usually only show compassion if a relative or child gets a weird disease, has a particular problem that gets them into constant personal trouble, otherwise they don’t really care about how others live.
Please provide specific examples such as what rules they wrote, what corporate welfare?

Please show the studies that characterize the rich as psychopath.
 
Old 01-29-2014, 12:33 PM
 
79,907 posts, read 44,191,640 times
Reputation: 17209
Quote:
Originally Posted by urbanlife78 View Post
Occupy wasn't against commercialism, it was about holding those that caused the financial collapse accountable. Something we have yet to do.
Which I completely agreed with them on.

Bill Gates earned his money and shouldn't be punished for that.

Mozilo and Blankfein didn't and should be in prison.
 
Old 01-29-2014, 12:34 PM
 
79,907 posts, read 44,191,640 times
Reputation: 17209
Quote:
Originally Posted by lifeexplorer View Post
Just exactly what crime they committed?

Making a bad business decision is not a crime. If that's a crime, every one of those subprime loan holders would be in jail.
Most all of them ran afoul of Sarbanes/Oxley. Countrywide clearly did without question.
 
Old 01-29-2014, 12:37 PM
 
Location: Portland, Oregon
46,001 posts, read 35,171,483 times
Reputation: 7875
Quote:
Originally Posted by lifeexplorer View Post
Is "needing more money" against some moral code, a law or something?

Do we need to justify every "need" we have now?

They may not need that money, assuming you are right, that's a) not your business, and b) you still can't have what they don't need
Well when one who is wealthy enough to use their money to buy a lower tax rate than the middle class, then I take issue with that...apparently you do not.
 
Old 01-29-2014, 12:44 PM
 
Location: Portland, Oregon
46,001 posts, read 35,171,483 times
Reputation: 7875
Quote:
Originally Posted by lifeexplorer View Post
Just exactly what crime they committed?

Making a bad business decision is not a crime. If that's a crime, every one of those subprime loan holders would be in jail.
I don't think you understand how the financial collapse happened in this country and what made it happen. If you think the people that were involved in making it happen didn't know what they were doing, then you are very naive.
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