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View Full Version : Millionaires aren't rich any more



pooltchr
12-05-2010, 04:12 PM
A million dollar net worth is no longer considered rich. In fact, it takes a million just to give you a comfortable retirement.

http://finance.yahoo.com/banking-budgeti...od=bb-budgeting (http://finance.yahoo.com/banking-budgeting/article/111448/new-rich-how-much-does-it-take?mod=bb-budgeting)

So, if we are going to tax those evil rich....we need to set our sightsts higher than 250k. That group might very well be considered part of the middle class.

Interesting perspective.

Steve

sack316
12-05-2010, 05:54 PM
It's also hard to make a set standard for the country as a whole, as being well off varies in different areas.

$250K/yr isn't doing too bad at all here in little Prattville, AL. Take some of our citizens that we consider "wealthy" here and put them in certain parts of NY or Cali and they would no longer be the "upper class" of their community.

Sack

Qtec
12-05-2010, 08:29 PM
There is a difference between all ones assets equalling 1$ Million and earning <u>every year</u> 1$ Million or more.

Q

LWW
12-06-2010, 02:34 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">There is a difference between all ones assets equalling 1$ Million and earning <u>every year</u> 1$ Million or more.

Q </div></div>

And ... ?

LWW

pooltchr
12-06-2010, 06:54 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body">There is a difference between all ones assets equalling 1$ Million and earning <u>every year</u> 1$ Million or more.

Q </div></div>

Did you really think nobody understands this?

You can make a million dollars a year, and not have assets worth a million, so your net worth would be less than a million.

It's not just how much you make, but what you do with it.

Steve

Chopstick
12-06-2010, 08:50 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">
Did you really think nobody understands this?

</div></div>

We think you've made enough money. You gotta give the rest back or we're gonna take it.

http://blogs.trb.com/features/family/parenting/blog/obama_smoking.png

eg8r
12-06-2010, 10:29 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">There is a difference between all ones assets equalling 1$ Million and earning every year 1$ Million or more.

</div></div>You are comparing apples and oranges. Just because someone earns a million a year doesn't mean they have a million in net worth. If they spend money like the poor in this country they will have very little net worth.

eg8r

llotter
12-06-2010, 04:04 PM
Nobody needs more than $500,000/yr of income and the excess ought to be redistributed to those that earn less, more going to the lowest income. This would generate so much business because suddenly everyone's credit would be assured because payments could be always be made. Just imagine how retail sales would skyrocket as everyone with formally lower incomes were suddenly lifted up into the middle class and with no chance that they would ever fall back down. We would only have upper middle class and lower middle class, no super rich and no poverty. Everyone knows that it is ultimately the middle class that drives economic activity and the large that class, the large the economy will grow.

Ya know, solutions come so easy once we apply ourselves.

pooltchr
12-06-2010, 04:16 PM
Only one minor problem with that idea. Nobody is going to work to earn any more than 500k, since they know they won't be able to keep it. And if nobody earns more than 500k, the average for everybody will be lower than that. So we eventually have to lower the standard to 300k, until everyone quits working when they reach that level, at which time, the average drops again.

Communism at it's finest!!!

/forums/images/%%GRAEMLIN_URL%%/crazy.gif

Steve

BTW, I think I heard Obama make a comment along those same lines some time ago! /forums/images/%%GRAEMLIN_URL%%/wink.gif

llotter
12-06-2010, 04:51 PM
I just can't believe that you Steve, of all people, would attempt to trash this obviously fantastic idea before we give it the old college try. In reality, few people actually need incentives to do their best and besides, 500 grand is nothing to sneeze at. In addition, that already high figure should be indexed to inflation.

Under this plan, most people would make out better and if incentive is needed, there should be reeducation camps to help people make the best choices for themselves of their own free will.

Qtec
12-07-2010, 05:52 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: eg8r</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">There is a difference between all ones assets equalling 1$ Million and earning every year 1$ Million or more.

</div></div>You are comparing apples and oranges. Just because someone earns a million a year doesn't mean they have a million in net worth. If they spend money like the poor in this country they will have very little net worth.

eg8r </div></div>

Why are we talking about millionaires and not people making a million a year, which is the issue at hand.
This 'Millionaires aren't rich any more' crap comes directly from the Luntz factory where they produce buzz words to cloud the issue. "The poor rich." crap.

The issue , that was at hand, should be why the GOP want to reward Wall St with billions of dollars in tax cuts after they created the biggest disaster in 70 years?

Q.........very simple.

pooltchr
12-07-2010, 06:12 AM
Q.

If you don't like my topics, why bother to respond?

Steve

Qtec
12-07-2010, 06:29 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">Q.

If you don't like my topics, why bother to respond?

Steve </div></div>

OK.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">A million dollar net worth is no longer considered rich. In fact, it takes a million just to give you a comfortable retirement. </div></div>

We all agree. ..........and.....?

Q..is that it?

Gayle in MD
12-07-2010, 09:05 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body">Q.

If you don't like my topics, why bother to respond?

Steve </div></div>


<span style="color: #990000"> BWA HA HA HA!!! Of all people to write that sentence!!!!

</span>
OK.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">A million dollar net worth is no longer considered rich. In fact, it takes a million just to give you a comfortable retirement. </div></div>

We all agree. ..........and.....?

Q..is that it? </div></div>


<span style="color: #990000">Yep, that's it. No links, no documentation, no credibility.

"Only the little people pay taxes"

If they claim a million, there's another five million, hidden offshore.

Tax cuts for those making over two hundred and fifty thousand dollars a year, do not stimulate the economy, effectively. Period! Economists, and the CBO, are together on this. Only Republoicans refuse to read the documentation, and end the lies.

G.

</span> /forums/images/%%GRAEMLIN_URL%%/crazy.gif

Chopstick
12-07-2010, 10:01 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: llotter</div><div class="ubbcode-body">Nobody needs more than $500,000/yr of income and the excess ought to be redistributed to those that earn less, more going to the lowest income. This would generate so much business because suddenly everyone's credit would be assured because payments could be always be made. Just imagine how retail sales would skyrocket as everyone with formally lower incomes were suddenly lifted up into the middle class and with no chance that they would ever fall back down. We would only have upper middle class and lower middle class, no super rich and no poverty. Everyone knows that it is ultimately the middle class that drives economic activity and the large that class, the large the economy will grow.

Ya know, solutions come so easy once we apply ourselves. </div></div>

That whole idea is a non-starter. Production would nose dive to zero and the economic system would collapse immediately. Anyone who has ever had a job knows that half the people there are just freeloaders riding on the work of others just trying to skate through the day doing as little as possible. What you suggesting is that we subsidize this activity. We work for gain. If you present gain without work, who is going to work? Why should they? You cannot legislate away human laziness or the resentment in those who are working 120 hours a week while everyone else stands around all day doing nothing.

pooltchr
12-07-2010, 11:24 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">[ <span style="color: #990000"> BWA HA HA HA!!! Of all people to write that sentence!!!!

</span>

<span style="color: #990000">Yep, that's it. No links, no documentation, no credibility.

G.

</span> /forums/images/%%GRAEMLIN_URL%%/crazy.gif </div></div>

Another instance of your little "total ignore" game allowing your ignorance to breed.

Had you bothered to read the original post, and not just a little piece of it, you would have found that it included the link.

When you bury your head in the sand to prevent yourself from getting all the facts, you are probably better off not commenting at all.

Steve

eg8r
12-07-2010, 12:49 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Why are we talking about millionaires and not people making a million a year, which is the issue at hand.
</div></div>I just feel the need to make sure the difference is clear which you do not always do.

All the GOP is tryign to do is make sure that the tax cuts are applied fairly. Why should one group get it but not the other?

eg8r

eg8r
12-07-2010, 12:51 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Yep, that's it. No links, no documentation, no credibility.

</div></div>What links or documentation are you looking for? Do you believe just having a million dollars in this day and age would make you rich?

Are you intent on refusing to add any value at all today?

eg8r

pooltchr
12-07-2010, 12:56 PM
The link was provided in the original post. Gayle is still playing her "T.I." game.

Steve

eg8r
12-07-2010, 01:01 PM
Yep I know. She has decided today she will do everything she has chastised us for doing.

eg8r

Deeman3
12-07-2010, 03:14 PM
I have lost the ability to read some colors in posts, red does not have enough contrast as some the yellows do not as well.

It may be a reverse of the ignore fiction but does save me a lot of reading! /forums/images/%%GRAEMLIN_URL%%/smile.gif

now everyone knows how to keep me from responding to their posts! /forums/images/%%GRAEMLIN_URL%%/smile.gif