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  1. #16

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    Nothing like stifling and squashing anyone's desire to kick ass and get ahead in life. The American way, for sure
    - Respect is the ultimate currency


  2. #17

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    I'm all for the spirit of entrepreneurship, and I like keeping my own money as much the next guy.

    I like to think of myself as rich, but I get confused every time we get this 30% of Americans who adamantly defend the top 1/10th of 1 percent as if they will be in that group in the next 6 months.

    There seems to be a genuine fear that those people will magically pull up roots, and America won't be able to service or replace their knowledge / ownership of companies if they somehow disappear.
    Go Gophers!

  3. #18

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    Quote Originally Posted by Ogee Oglethorpe View Post
    Nothing like stifling and squashing anyone's desire to kick ass and get ahead in life. The American way, for sure

    At what point in your increasing income are you having your appetite to do better getting squashed?
    I haven't hit that point yet.
    I'm curious where it is for you?
    Go Gophers!

  4. #19

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    Quote Originally Posted by KillerGopherFan View Post
    the top 10% already pay 80% of the Federal income taxes, the top 1% pay 40% of Federal income taxes, and the lower 50% only pay 3% for Federal income tax
    Assuming those numbers are even correct (which I doubt), do the corresponding breakdown for income. What percent of the income do the top 80%, the top 1%, and the lower 50% each make?

  5. #20

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    Quote Originally Posted by Face The Facts View Post
    The argument of "The top X percent already pay Y percent" is turning into an incriminating statement of itself.

    Once pointed at as a proud way to show how the rich carry the burden of our tax system, it's getting to the point that it's become evident that not only are they the only one's paying taxes, they are also the only ones participating in the major leagues of capitalism.

    US Billionaires own an equivalent of 12.6% of our country's Gross Domestic Product (GDP). (About 1900 households).

    Of economies with GDP's of over $1 trillion, that's the 2nd most concentrated of any country.

    #1 being Russia.
    That's because obama fixed it, I mean, the Fed has spent the past decade pumping up the prices of assets, stocks, bonds, real estate. That's not real wealth, it's paper wealth. And it can never be monetized. So it looks bad, it looks like concentrated wealth, but it isn't real. All that stat shows is that a lot of the country has no savings. And why should they? The Fed has been punishing savings for over 20 years. It's no wonder the average person has a negative savings rate and no assets. Blame the Fed/Government. But Obama fixed it though.

  6. #21

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    Real estate, stocks, bonds and other assets can't be monetized?

  7. #22

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    Quote Originally Posted by Face The Facts View Post
    At what point in your increasing income are you having your appetite to do better getting squashed?
    I haven't hit that point yet.
    I'm curious where it is for you?
    Everyone wants to make more. Not everyone is willing to make the enormous sacrifices to get it. This is a blanket statement but I think true, 0% of the people who want to soak the rich are those who are willing to make the enormous sacrifice.

  8. #23

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    Quote Originally Posted by GopherJake View Post
    Real estate, stocks, bonds and other assets can't be monetized?
    Not collectively, no.

  9. #24

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    Quote Originally Posted by Section2 View Post
    Not collectively, no.
    "Collectively?" What does that mean? If I own a stock - or if someone owning 10 billion shares of stock - I or they can sell that stock for money.

  10. #25

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    Even Republican politicians are getting on board with increasing taxes on the rich.

    "I am willing to pay more, and you know what, the wealthy are willing to pay more." "The middle class has to be protected." The rich are "probably going to end up paying more," he said. "It’s going to cost me a fortune, which is actually true." "You've seen my statements. I do very well. I don't mind paying a little more in taxes. The middle class is getting clobbered in this country," he said. "The middle class built this country, not the hedge fund guys." "I would let people who are making hundreds of millions of dollars a year pay some tax." "Because right now, they're paying very little tax. I think it's outrageous."

    QUESTION: "Do you believe in raising taxes on the wealthy?"
    ANSWER: "I do. I do – including myself. I do."

    https://www.cnbc.com/2016/05/08/dona...x-on-rich.html
    https://www.politico.com/story/2015/...ax-plan-214139
    https://money.cnn.com/2015/08/27/new...nomy-tax-plan/
    https://www.realclearpolitics.com/vi...ng_myself.html
    https://www.nj.com/politics/index.ss...xes_on_mi.html

  11. #26

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    Quote Originally Posted by GopherJake View Post
    "Collectively?" What does that mean? If I own a stock - or if someone owning 10 billion shares of stock - I or they can sell that stock for money.
    You, and the person who owns 10 billion shares of stock are individuals. The prices of assets could double today, and revert back tomorrow, with no change in real wealth.

  12. #27

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    Quote Originally Posted by Section2 View Post
    You, and the person who owns 10 billion shares of stock are individuals. The prices of assets could double today, and revert back tomorrow, with no change in real wealth.
    If I sell today and buy back tomorrow, I'm pretty sure I would have monetized the $hit out of those stocks. What's your point? When calculating wealth, you want to dismiss all assets except cash and cash savings as having zero value?

  13. #28

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    Quote Originally Posted by GopherJake View Post
    If I sell today and buy back tomorrow, I'm pretty sure I would have monetized the $hit out of those stocks. What's your point? When calculating wealth, you want to dismiss all assets except cash and cash savings as having zero value?
    Cash is also a paper asset. I'm sorry you can't understand me Jake. You are an expert googler, so I feel confident you'll figure it out.

  14. #29

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    Quote Originally Posted by Section2 View Post
    Cash is also a paper asset. I'm sorry you can't understand me Jake. You are an expert googler, so I feel confident you'll figure it out.
    So, if everything is worthless, how do you propose we measure wealth, S2?

  15. #30

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    Quote Originally Posted by GopherJake View Post
    So, if everything is worthless, how do you propose we measure wealth, S2?
    Dick size?
    Who hates iowa?

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