OT: Wealth Redistribution Experiment

[Coronita]

[quote=asianautica][quote=urbanrealtor]
I am not saying its impossible but again, I dare you to show me an example that takes place in the last 10 to 20 years.[/quote]
I know quite a few people who came here 15-27 years ago (a little longer than your 20 years limit) with nothing more than the clothes on their backs. Now, they are either engineers, doctors, business owners of businesses that employ as much as 400+ people and have multi-million $ profit. They made it because of hard work, extreme frugality, and great support from family and friends. When your family and friends also have nothing or just a little more than you, but willing to help each other to succeed together, you can go a long way. Also, they did receive government assistance when they first came. However, they try their darnedest to get off it ASAP, through education and frugality. So yes, it’s still doable today to go from rags to riches in America. All it takes is the right mindset.[/quote]

Last time I checked, my wife who came here for a graduate work with $2000, a paid one way ticket, and a partial scholarship for research, at a not-so-great school, is doing just fine 14 years later (and no it had, nothing to do with marrying me, which probably weighed down more than anything else). Yes, i guess by american standards, you could say she was from a poor family.

[Coronita]

[quote=Chris Scoreboard Johnston]I can only hope that is a true story. Of course another way to combat it is just lay people off to offset the impact of increased taxes as well as cut back on philanthropy, which is what I and many friends that employ people plan on doing. I doubt the class warfare that is starting will be won by the poor, but let’s have at it and see.

It is a shame that will be the outgrowth, but alot of you that are so eager to get back at people that have greater wealth are going to be sorry you got what you asked for. I am just a dumb commodities trader but many of my very successful friends are very smart. I doubt seriously that lessor accomplished people will be able to outwit them in this ensuing battle. Some may get a check with some of my money but it will be followed by a pink slip and I doubt the chunk they get from me will be enough to offset being umemployed for an extended period of time.[/quote]

Missed you around here…..Where have you been?

[Coronita]

[quote=Chris Scoreboard Johnston]I can only hope that is a true story. Of course another way to combat it is just lay people off to offset the impact of increased taxes as well as cut back on philanthropy, which is what I and many friends that employ people plan on doing. I doubt the class warfare that is starting will be won by the poor, but let’s have at it and see.

It is a shame that will be the outgrowth, but alot of you that are so eager to get back at people that have greater wealth are going to be sorry you got what you asked for. I am just a dumb commodities trader but many of my very successful friends are very smart. I doubt seriously that lessor accomplished people will be able to outwit them in this ensuing battle. Some may get a check with some of my money but it will be followed by a pink slip and I doubt the chunk they get from me will be enough to offset being umemployed for an extended period of time.[/quote]

Missed you around here…..Where have you been?

[Coronita]

[quote=Chris Scoreboard Johnston]I can only hope that is a true story. Of course another way to combat it is just lay people off to offset the impact of increased taxes as well as cut back on philanthropy, which is what I and many friends that employ people plan on doing. I doubt the class warfare that is starting will be won by the poor, but let’s have at it and see.

It is a shame that will be the outgrowth, but alot of you that are so eager to get back at people that have greater wealth are going to be sorry you got what you asked for. I am just a dumb commodities trader but many of my very successful friends are very smart. I doubt seriously that lessor accomplished people will be able to outwit them in this ensuing battle. Some may get a check with some of my money but it will be followed by a pink slip and I doubt the chunk they get from me will be enough to offset being umemployed for an extended period of time.[/quote]

Missed you around here…..Where have you been?

[Coronita]

[quote=Chris Scoreboard Johnston]I can only hope that is a true story. Of course another way to combat it is just lay people off to offset the impact of increased taxes as well as cut back on philanthropy, which is what I and many friends that employ people plan on doing. I doubt the class warfare that is starting will be won by the poor, but let’s have at it and see.

It is a shame that will be the outgrowth, but alot of you that are so eager to get back at people that have greater wealth are going to be sorry you got what you asked for. I am just a dumb commodities trader but many of my very successful friends are very smart. I doubt seriously that lessor accomplished people will be able to outwit them in this ensuing battle. Some may get a check with some of my money but it will be followed by a pink slip and I doubt the chunk they get from me will be enough to offset being umemployed for an extended period of time.[/quote]

Missed you around here…..Where have you been?

[Coronita]

[quote=Chris Scoreboard Johnston]I can only hope that is a true story. Of course another way to combat it is just lay people off to offset the impact of increased taxes as well as cut back on philanthropy, which is what I and many friends that employ people plan on doing. I doubt the class warfare that is starting will be won by the poor, but let’s have at it and see.

It is a shame that will be the outgrowth, but alot of you that are so eager to get back at people that have greater wealth are going to be sorry you got what you asked for. I am just a dumb commodities trader but many of my very successful friends are very smart. I doubt seriously that lessor accomplished people will be able to outwit them in this ensuing battle. Some may get a check with some of my money but it will be followed by a pink slip and I doubt the chunk they get from me will be enough to offset being umemployed for an extended period of time.[/quote]

Missed you around here…..Where have you been?

[34f3f3f]

[quote=cooprider]

What I don’t want is Obama at the reigns, spending my hard-earned money, on people that don’t deserve the help, and whatever special interest groups he caters to.

With the Community Reinvestment Act Obama helped poor and minority families get into “affordable” housing Governemnt assistance ala FNM, FMAC.
[/quote]

Having lived in Europe for many years, I have first hand knowledge of the social security safety net, and there are many problems with it; not least it allows the lazy to live off the industrious, and is a tax burden. However, there will always be unemployed comprising those who either can’t or don’t want to work. Means testing the unwilling is fraught with difficulty and leaves you with a choice of whether you ignore the problem and hope it doesn’t manifest itself into a worse problem like racial tension, crime, or civil unrest, or take a gamble and hope the straddlers aren’t too many in number. Yes, it’s a given that you carry a small percentage of the population, but generally most prefer to work because it pays better.

Failure in public policy is often measured by the outcome of the next election, so it may be Obama wins by default. You may have to put up with his decisions for the next eight years, but I seriously doubt many of us are going to be seriously more worse off than with McCain at the helm. I am happy to be proven wrong.

[34f3f3f]

[quote=cooprider]

What I don’t want is Obama at the reigns, spending my hard-earned money, on people that don’t deserve the help, and whatever special interest groups he caters to.

With the Community Reinvestment Act Obama helped poor and minority families get into “affordable” housing Governemnt assistance ala FNM, FMAC.
[/quote]

Having lived in Europe for many years, I have first hand knowledge of the social security safety net, and there are many problems with it; not least it allows the lazy to live off the industrious, and is a tax burden. However, there will always be unemployed comprising those who either can’t or don’t want to work. Means testing the unwilling is fraught with difficulty and leaves you with a choice of whether you ignore the problem and hope it doesn’t manifest itself into a worse problem like racial tension, crime, or civil unrest, or take a gamble and hope the straddlers aren’t too many in number. Yes, it’s a given that you carry a small percentage of the population, but generally most prefer to work because it pays better.

Failure in public policy is often measured by the outcome of the next election, so it may be Obama wins by default. You may have to put up with his decisions for the next eight years, but I seriously doubt many of us are going to be seriously more worse off than with McCain at the helm. I am happy to be proven wrong.

[34f3f3f]

[quote=cooprider]

What I don’t want is Obama at the reigns, spending my hard-earned money, on people that don’t deserve the help, and whatever special interest groups he caters to.

With the Community Reinvestment Act Obama helped poor and minority families get into “affordable” housing Governemnt assistance ala FNM, FMAC.
[/quote]

Having lived in Europe for many years, I have first hand knowledge of the social security safety net, and there are many problems with it; not least it allows the lazy to live off the industrious, and is a tax burden. However, there will always be unemployed comprising those who either can’t or don’t want to work. Means testing the unwilling is fraught with difficulty and leaves you with a choice of whether you ignore the problem and hope it doesn’t manifest itself into a worse problem like racial tension, crime, or civil unrest, or take a gamble and hope the straddlers aren’t too many in number. Yes, it’s a given that you carry a small percentage of the population, but generally most prefer to work because it pays better.

Failure in public policy is often measured by the outcome of the next election, so it may be Obama wins by default. You may have to put up with his decisions for the next eight years, but I seriously doubt many of us are going to be seriously more worse off than with McCain at the helm. I am happy to be proven wrong.

[34f3f3f]

[quote=cooprider]

What I don’t want is Obama at the reigns, spending my hard-earned money, on people that don’t deserve the help, and whatever special interest groups he caters to.

With the Community Reinvestment Act Obama helped poor and minority families get into “affordable” housing Governemnt assistance ala FNM, FMAC.
[/quote]

Having lived in Europe for many years, I have first hand knowledge of the social security safety net, and there are many problems with it; not least it allows the lazy to live off the industrious, and is a tax burden. However, there will always be unemployed comprising those who either can’t or don’t want to work. Means testing the unwilling is fraught with difficulty and leaves you with a choice of whether you ignore the problem and hope it doesn’t manifest itself into a worse problem like racial tension, crime, or civil unrest, or take a gamble and hope the straddlers aren’t too many in number. Yes, it’s a given that you carry a small percentage of the population, but generally most prefer to work because it pays better.

Failure in public policy is often measured by the outcome of the next election, so it may be Obama wins by default. You may have to put up with his decisions for the next eight years, but I seriously doubt many of us are going to be seriously more worse off than with McCain at the helm. I am happy to be proven wrong.

[34f3f3f]

[quote=cooprider]

What I don’t want is Obama at the reigns, spending my hard-earned money, on people that don’t deserve the help, and whatever special interest groups he caters to.

With the Community Reinvestment Act Obama helped poor and minority families get into “affordable” housing Governemnt assistance ala FNM, FMAC.
[/quote]

Having lived in Europe for many years, I have first hand knowledge of the social security safety net, and there are many problems with it; not least it allows the lazy to live off the industrious, and is a tax burden. However, there will always be unemployed comprising those who either can’t or don’t want to work. Means testing the unwilling is fraught with difficulty and leaves you with a choice of whether you ignore the problem and hope it doesn’t manifest itself into a worse problem like racial tension, crime, or civil unrest, or take a gamble and hope the straddlers aren’t too many in number. Yes, it’s a given that you carry a small percentage of the population, but generally most prefer to work because it pays better.

Failure in public policy is often measured by the outcome of the next election, so it may be Obama wins by default. You may have to put up with his decisions for the next eight years, but I seriously doubt many of us are going to be seriously more worse off than with McCain at the helm. I am happy to be proven wrong.

[bubba99]

The whole question of tax “fairness” is dwarfed by the underlying arithmatic.

“that the top or most affluent quintile had 49.7 percent of all income, while the bottom quintile had only 3.5 percent.”

from
http://www.heritage.org/Research/Taxes/bg1791.cfm

Go ahead, tax the crap out of the middle quintile, they only make 13.6% of all the income – it makes little difference to the total tax collected. If you don’t tax the upper two quintiles, you miss 68% of all the taxible income.

And remember that most of us (under 100K/year) pay social secutity tax while the upper 2 quintiles do not on amounts above 100k.

[bubba99]

The whole question of tax “fairness” is dwarfed by the underlying arithmatic.

“that the top or most affluent quintile had 49.7 percent of all income, while the bottom quintile had only 3.5 percent.”

from
http://www.heritage.org/Research/Taxes/bg1791.cfm

Go ahead, tax the crap out of the middle quintile, they only make 13.6% of all the income – it makes little difference to the total tax collected. If you don’t tax the upper two quintiles, you miss 68% of all the taxible income.

And remember that most of us (under 100K/year) pay social secutity tax while the upper 2 quintiles do not on amounts above 100k.

[bubba99]

The whole question of tax “fairness” is dwarfed by the underlying arithmatic.

“that the top or most affluent quintile had 49.7 percent of all income, while the bottom quintile had only 3.5 percent.”

from
http://www.heritage.org/Research/Taxes/bg1791.cfm

Go ahead, tax the crap out of the middle quintile, they only make 13.6% of all the income – it makes little difference to the total tax collected. If you don’t tax the upper two quintiles, you miss 68% of all the taxible income.

And remember that most of us (under 100K/year) pay social secutity tax while the upper 2 quintiles do not on amounts above 100k.

[bubba99]

The whole question of tax “fairness” is dwarfed by the underlying arithmatic.

“that the top or most affluent quintile had 49.7 percent of all income, while the bottom quintile had only 3.5 percent.”

from
http://www.heritage.org/Research/Taxes/bg1791.cfm

Go ahead, tax the crap out of the middle quintile, they only make 13.6% of all the income – it makes little difference to the total tax collected. If you don’t tax the upper two quintiles, you miss 68% of all the taxible income.

And remember that most of us (under 100K/year) pay social secutity tax while the upper 2 quintiles do not on amounts above 100k.

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