Rich ppl have access to money and resources we never will

What a post! What the heck are you even saying? Money had to come from somewhere unless you are implying the vast majority of wealthy people literally stole it. And that's insane. Wherevere you see money it was earned. Even if it was someones great grandpa and you have no right to judge how the family uses it.

 

You have an excellent point. You can't be successful in politics without having top connections.

 

But everyone has access to Harvard. By the time a person is in Harvard, they have already earned more than someone who didn't do well enough in school or didn't study hard enough for their SAT/ACT to get into Harvard or to get a decent scholarship for Harvard.

 

This is the non-sense that fuels socialism. 80% of millionaires are first generation. Many of them did not earn large earnings, they worked hard, lived below their means, did not borrow for consumption and invested steadily over long periods.

Example: A 25k car can cost you more than you think. Those building wealth will see the opportunity loss. They will buy a 10 to 12k car and invest the difference. 12k earning 10%(market average) over 40 years is 543,000. So, how important is that 25k car?

Example: you can (*)(*)(*)(*) away 200 a month on many different luxuries like cigarettes, eating out etc. Put that money to work for 40 years at 10% and you get 1.27 million.

If you think your home is your biggest investment, you are doomed to fail. Your house is likely your biggest obstacle to wealth. They who are serious about building wealth will not have a house payment more than 25% of their take home pay on a 15 year note.

Wealth is not for the priviledged, it is for the wise and frugal.

 

No, it is the privileges inherent in capitalism which create the demand for countervailing privilege, which you call socialism. Capitalism is not sustainable, capitalism fuels socialism… that is why I do not support capitalism.

The long term average growth rate of the economy is 3%, how is it that the “market” can grow at 10% when the economy is only growing at 3%… do you see a problem here?

Money is debt. If you have $1.27 million, then by default, others must be in debt by that same amount. It is people like you who -- demanding something for nothing -- contribute greatly to the demise of our nation. You demand that your investments increase in dollar terms, the government, in order to please your demands, creates money and debt to create the illusion that you are becoming rich… the result is massive debt burdens for our innocent children, as well as massive profits for the banks.

The rich have the money… my children have the debt… somehow you think that is fair.

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I know plenty of privileged people who are extremely wealthy, they are not wise, and certainly not frugal, just privileged. You have no idea what you are talking about.

Watch this video and learn something: [ame="http://www.youtube.com/watch?v=Dc3sKwwAaCU"]http://www.youtube.com/watch?v=Dc3sKwwAaCU[/ame]

Then read the first 7 paragraphs of this chapter and learn something more (read paragraph #6 over and over until you understand it):http://www.econlib.org/library/YPDBooks/George/grgPFT25.html#Chapter 25

 

That is not how it works. Reserve currency is debt, but no wealthy person has $1.27 million in cash. Cash holdings are foolish since they depreciate at about 3% per year. Wealthy people put their money in various other investments that gain at least 3% to offset inflation, but usually in things that earn more than 3% to keep growing.

 

Did you sleep through history class? Maybe you should read something besides Right wing blogs.

Lots of wealthy families based their wealth on theft or crime. The Kennedy's were smugglers. In fact, virtually every family fortune in alcohol is descended from profits during Prohibition!

The list is virtually unending.

Here is a name you will recognize. http://www.libertylobby.org/election2000/aboutBuchanan/gangsters.html

 

I have to agree with this, the more money produced to satisfy the middle the more the price of goods are increased to provide the same median price for the items provided that they purchase. Remember, a dime was good money in the 50s and 10 dollars meant you were really doing something.

 

Yes, it is.

That is false and absurd, and in any case it doesn't matter. The wealthy and their banks are the creditors who profit from the debt money system. All that debt is owed to someone, and it is not you and me.

But they are liquid, and protect you from loss (and confer a purchasing power gain) in a deflationary phase.

Yeah, "investments" like DEBT INSTRUMENTS and BANK SHARES, duh.

True, the wealthy avidly bid up the prices of privileges that entitle them to receive income without having to make any commensurate contribution to production.

 

If they stole their money prove it and prosecute. Otherwise get a job and a life. Class envy and class warfare is the easiest card to play for simple minded underachievers.

 

Back then people earned like $200 a week so $10 was a big deal.

 

I guess I don't understand your point.

the people down the road have four cars, I only have two...so I should get one of their cars? Someone somewhere will always have more than you. It doesn't mean they owe you anything. Does Warren Buffet look at Saudi princes and whine they have more money than he does? and why is it that the only 'wealth' that anyone looks on with such greed is AMERICAN millionaires, I never see you Progressive, One World Government people complaining about other country's millionaires!

stop looking with envy at other people and work on your own life. Stop being so materialistic.

 

I assume you agree then that Maxine Waters, Franklin Raines, and Barney Frank should be in prison right along with them? Bush tried to stop Fannie and Freddie but that bunch blocked him, sneered that there was no problem with the mortgage situation in this country. Educate yourself.

*sigh*

Bush was a lame duck President with a DEMOCRAT controlled Congress, he had zip power...he merely signed what your adored Pelosi and Reid sent to him. It was the DEMOCRATS that came up with the whole TARP bill (and the stimulus bills...where IS that money now?) so as much as you want to blame Bush...*roll eyes*...facts are facts.

I am relieved you don't have biological children too...

 

It is greed pure and simple...there are millions of women, minority, immigrant small business people in this country making money...living the American dream.

Will every one of them be billionaires? nope, but they are happy, making a living and are relatively free of oppression. Ask any of them if they would pack up and move to any other country and I would bet few would. I get the impression these losers are thinking if ONLY Bill Gates was stripped of HIS millions, then they would be millionaires...but that isn't how life works.

How much is enough for these Progressives? What would satisfy them? There is no amount that would make them happy because they look around and bean count everyone around them...they are the little kids that scream "He got more cake than me!!"

They truly believe that Bill Gates was unnecessary, Microsoft would have appeared out of nowhere, the car would have invented itself, vaccines and medical equiptment would have magically appeared...and no one should be rewarded for thinking of new products or new ways of doing things.

My boss saw a need, his wife worked on their business during her lunch hour and they both worked at night until they grew their business big enough to support themselves...they have spent twenty years putting blood, sweat and tears in their business, expanding to two warehouses and twenty employees.

they have a nice house they built, he has a bass boat and seven horses...they have three cars, a nice horse trailer with living quarters, he recently bought some cows, they regularly take trips to Alaska or New York or Arizona...and they deserve every one of those things. I don't because I DIDN"T work on my lunch hours and after work...I chose to do other things, I can't blame my boss for that!

 

Oh, so you are talking about the Marxist theory that all money is representative of debt of labor owed to one person.

If you are working under that theory, then that debt is owed and incurred by the people who enjoyed the products of the debtholder's labor. Elimination of that debt requires that each person be fully and immediately rewarded for every labor they execute.

For instance, you visit a doctor. In order to be treated you need to provide the doctor immediately with something of sufficient value to reimburse him for the effort he is putting forth in treating you. If you are a chicken farmer, and he doesn't need eggs or chickens, you would be out of luck.

Money allows for rapid transfer of debt and conversion of debt to a type that the debtholder does need or want. Now the chicken farmer can sell a chicken to a blacksmith in exchange for credit notes (money.) He can use those credit notes to pay the doctor. The doctor can use the credit notes to buy a shovel from the blacksmith. Each man is then rewarded for his labor in a manner he desires.

Your children don't owe these rich people millions of dollars worth of labor. In many cases those millions have already been spent to purchase partial ownership of companies. No debt remains for that money. Some of the money is used to purchase bonds. The bonds are debt, but no debt of your heirs, it is a debt from a specific party to the bondholder.

As for the rest of the money, even that isn't necessarily owed by your heirs. If your heirs choose not to sell their labor to the rich, no exchange is made and no debt is owed. If they do sell their labor to the rich, it is in exchange for labor from someone else in the future, possibly even that same rich person.

The reality is that currency isn't debt, but is a marker representative of a certain amount of labor. It isn't a debt since no one actually has to repay it. Instead it is a medium to hold and exchange your labor for someone else's labor at a different time and place, and only in a manner acceptable to both parties.

 

They stole it legally, with government's help.

"SHUT UP AND GET BACK ON THE TREADMILL!!"

Every morning, the sun rises.

In the same way, every time anyone with a functioning conscience takes a stand against injustice, the evil, greedy, lying filth who intend to benefit from that injustice accuse him of envy for its beneficiaries. That is a natural law of the universe.

It's a funny kind of class warfare where the only class that is ever accused of waging it is also the only class that ever takes any casualties.

And at least compared to Warren Buffet, "simple minded underachiever" would be an accurate description of the typical rightard who accuses the poor and "liberals" of waging it:

"There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning." -- Warren Buffet in the New York Times, November 26, 2006.

 

It does if they got it by violating your rights.

Garbage. It's the same everywhere.

Thieves telling their victims to stop being so materialistic: priceless.

 

Rights are subjective.

If they did it according to the laws governing the society in which you live...no rights were violated.

 

No, I am stating the fact that modern monetary systems create almost all money as debt. See "Modern Money Mechanics," published by the US Federal Reserve.

<yawn> What labor? The rich and privileged get money without labor.

For instance, you need some land to use to grow food. In order to use the land, you have to pay the landowner. If it weren't for the landowner, the land wouldn't be there. There would just be a big hole going down to the center of the earth.

Oh, no, wait a minute, that's right: the land WOULD still be there, ready to use, with no help at all from the landowner or anyone else. Funny how no one wants to know that fact.

Wrong. Wherever the money is, it is still debt.

They owe money as taxpayers to those who hold government debt.

Garbage. The privileged do not sell labor. They are just legally entitled to require labor in return for nothing.

Garbage.

It's a debt because interest is being charged on it.

That would also describe commodity money and token money. Debt money is different. I suggest you read "The Lost Science of Money" by Stephen Zarlenga, to get up to speed.

 

No, they are not.

LOL!! First you claim rights are subjective, now you claim they exist only in laws, which are objective facts.

But if either of those claims were true, on what basis could any law ever be changed, hmmmm?

 

Yes they are. They are a reflection of a societies priorities...different society...different priorities....subjective.

Do laws not differ from nation to nation? That alone means they are subjective.

A change in societal beliefs.

 

That is not what "subjective" means. Effective rights are indeed a societal construct, but that is an objective fact, as objective as the rules of its language.

No, it does not. Languages, money, etc. also differ from nation to nation, but they are not subjective.

Meaning a recognition that society was objectively wrong.

Ooops. There goes all your "rights are subjective" nonsense.

 

The top 1% pays 40% of income taxes.

How much more should they pay?

The bottom 50% pay virtually no taxes, how much more should they pay?

What would be fair?

 

And? You do realize there are many people with a lot of wealth and low income. And there are people with high earners and little net wealth.

 

Interesting how people view America. Most people do not have access to the resources to make it rich. If anyone has facts potherwise please share.