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Aren't you the same guy that says only rich people build companies?
Yes, I did because it was a fact of our life. Rich people put up capitals and share their finance and management experience to help the innovators to build companies. Look up any venture capital application and you will see that.
Quote:
Originally Posted by wanderlust76
Very few people will ever make a cent off of the stock market without tens of thousands of dollars laying around. Mutual funds don't count that's different I'm talking day to day trading of specific stocks through Charles Schwab or what not.
This is factually wrong.
Very few people make money by day trading is NOT because they are lack of capital.
Mathematically, if one can double his earning through day trading each day, he can start with $100 and get over one million in 15 days. Any poor guy in America can afford to do this, no?
The point is that day trading is not a rich guys' game and it is HARD. It takes a tremendous amount of skills and most still lose all their money regardless how much they have initially.
Quote:
Originally Posted by wanderlust76
Wealth is lost because the children of the wealthy people blow the money they inherit and don't have the same ethics that their parents did.
Anyone that inherits money should be a millionaire by the time they retire they're a moron otherwise sorry.
If wealth can be lost so easily and quickly, why not let them lose it? Where do you think the lost wealth goes? Not trickling down to the less fortunate?
Last edited by lifeexplorer; 03-09-2017 at 08:02 AM..
The middle class making $100 while the Wall Street welfare recipients make $25 million isn't going to last forever.
Shortsighted thinking. Especially for one (YOU!) who expects to collect a pension check which one (YOU!) so far hasn't said they'll refuse to accept. Pension funds rely on equity investments in corporations, corporate profits, and an increase in corporations' stock value to be able to pay out those pension checks.
So, again... Guess who the largest equity investor in the US is?...
Last edited by InformedConsent; 03-09-2017 at 07:37 AM..
Shortsighted thinking. Especially for one (YOU) who expects to collect a pension check which one (YOU) has so far hasn't said they'll refuse to accept. Pension funds rely on equity investments in corporations, corporate profits, and an increase in corporations' stock value to be able to pay out those pension checks.
So, again... Guess who the largest equity investor in the US is?...
Look up carried interest. There's a reason guys who make 50MM a year pay so little in taxes, and it's not available to you and me. Also a guy with 20mm in investments will benefit much more from capital gains than a poor person. A person with a cpl hundred bucks instocks can't live off dividends and capital gains but a rich person can so they benefit from the lower taxes exponentially more.
I see no facts or support for any claims you make above about 90% of rich people losing wealth, not that it has anything to do with the subject. Also rich people may lose more in the market than poor people although I'd still like to see proof of this but it would only be because they have more to invest in yet first place. And there are tons of other investments available to he wealthy l taxes much lower than a middle class income, private partnerships, lp, etc...
Please define "little." Even the carried interest is taxed at 20% long term capital gain rate, he would be paying $10M. That's NOT little.
Personally, I hope he pays $0 tax. I hope all of us pay $0 tax.
If you want everybody pays the same amount or same rate, let's do that. Let's set a number fair to everybody?
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