Do the rich earn their income?

[JohnA]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

More to the point do the union workers who take as long as they can to do the task paid for, get as much time of as they can when getting paid and sit around while others invest earn there money ... remember that some worker get PAID for doing nothing just as the *rich do*


as there are many rich who break and bend the laws, cheat and steal so there are as many *working class* who do the same
equally there are many who have earnt their money thou hard work .study .forsight, ambition , dedication
many *working class * give a good return for their efforts ,work hard are honest and reliable

silly question the question should read do SOME rich earn their income, do SOME poor deserve the income they make
the Greed selfishnes & disonesty . in human nature are found in rich and poor, old and young, male and female and in all races as are the high character traits found in all




as i say silly question but expected from you

 

[rdean]

Look people. Money is kept in this country because it's stable and a good place to keep money. It's clean as long as we can keep Republicans from gutting it. Almost no one with any real money serves in the military.

Rich people invest in companies to get more money. Well, they can invest in the country. To build up their consumer base to make even more money.

I just don't know where all these greedy fucks come from? You can't keep a nation strong by squeezing everything you can out of it. There has to be an investment. Making more and more of the middle class poor is NOT building up the country. In fact, there are millionaires and billionaires who (gasp) actually want to pay more.

 

[Sundial]

Did they steal it from you?

I'm not asking how the rich got their money. In fact, I already answers it: interest, dividends, etc.

This is my question:

if the rich are consuming without working, who is doing their work for them?

Do you want to try again?

 

[uscitizen]

Well you dont' just have to take it from me--here is a business man that is a democrat who voted for BARACK Obama--who is now lining the highways in Las Vegas Nevade--that states FIRE Obama and I will hire 10,000 employees the next day

Steve Wynn a DEMOCRAT--who voted for Barack Obama--and his opinion NOW.



So if obama loses in 2012 this guy will come thru on his bet the next day?
Anyone who believs this will even believe a politician.

 

[oreo]

Do the rich earn their income?

Do dumb liberals make dumb topics?

Their is your answer.

To a liberal--the 250K crowd (everyone of them) work on two blocks of lower Manhatton in New York City and push buttons all day--and rip everyone off---LOL.

They elected a President that believes the same.

 

[Cecilie1200]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

You DID know that earnings from your own business are often not filed in the same way as income from a paycheck, right?

File this under "liberal class envy".

 

[syrenn]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Do welfare recipients earn their check/perks?

 

[Cecilie1200]

Did they steal it from you?

I'm not asking how the rich got their money. In fact, I already answers it: interest, dividends, etc.

This is my question:

if the rich are consuming without working, who is doing their work for them?

Do you want to try again?

I love how you just leap to the assumption that they're "consuming without working", and that income that doesn't come from a paycheck is acquired "without getting up in the morning".

You really have no fucking clue who "the rich" are, or what they actually do all day, do you? Why don't you go tell Warren Buffett or Bill Gates that they're just lounging around the pool all day, sipping Mai Tais and being unproductive consumers? That is, if you can catch them with a free moment to listen to your bullshit.

 

[oreo]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

You DID know that earnings from your own business are often not filed in the same way as income from a paycheck, right?

File this under "liberal class envy".

No kidding--these liberals still do not understand the difference between a class C and sub chapter S corporation--aka small business in this country. ALL corporations are EVIL.


Corporations can also be spelled J.O.B.S in this country. Personally I do not know anyone that is a sucessful business person that grew up with a silver spoon in their mouths--they all took risks--they invested--they worked hard to make their money.

In fact--the ONLY one that I can think of that really did grow up with a silver spoon in his mouth is Barack Obama. Very wealthy (subsidized FARMING) grandparents that raised him.

 

[uscitizen]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Do welfare recipients earn their check/perks?

Nope and obviously neither is congress.

 

[uscitizen]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

You DID know that earnings from your own business are often not filed in the same way as income from a paycheck, right?

File this under "liberal class envy".

No kidding--these liberals still do not understand the difference between a class C and sub chapter S corporation--aka small business in this country. ALL corporations are EVIL.


Corporations can also be spelled J.O.B.S in this country. Personally I do not know anyone that is a sucessful business person that grew up with a silver spoon in their mouths--they all took risks--they invested--they worked hard to make their money.

In fact--the ONLY one that I can think of that really did grow up with a silver spoon in his mouth is Barack Obama. Very wealthy (subsidized FARMING) grandparents that raised him.

You forget George W. Bush?
And most of the Senate?

 

[Remodeling Maidiac]

I'll give it a go. But I'm not gonna argue with you after the fact cause its late and I'm tired.

I own a business. And I have others do most of the work. Having said that I busted my ass for decades to get here. I'm sure I worked much harder than the average Joe to be able to get to where I am. I sacrificed many a long days and weekends when my children were small to get to this point. I've had many people come and go and come again. Many quit thinking they can do what I do without me. Most come crawling back after their failure. To run a business requires much more knowledge than it does to perform the work of the business. Some can lead and most can't. I've got one employee who has been with me for over 12 years. About 2 years ago he tried to start out on his own. 9 months later he returned saying he didn't understand how I make it work. You see some of you have no idea how things truly work in the business world. You seem to think the money just falls from the sky.

I worked for my success and the manner in which I now conduct my business is just that, my business. Until you understand that the wealthy's investments provide you idiots jobs you'll never learn anything.

I earned my status. You earn yours. It's not my fault your not driven enough to excel to happiness. And don't tell me your happy with where you are or what you've accomplished otherwise you wouldn't be on here condemning those that make our economy turn.

 

[auditor0007]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

It doesn't matter how they accumulated their wealth; it is theirs, plain and simple. The question is whether they should be taxed on that wealth or income and how much. The argument is whether or not they should pay more than lower income earners due to their good fortune, no matter how they came about that good fortune. For some, it is through hard work, others it is through good fortune, and some it is through inheritance. I am not interested in taking their wealth away from them. However, I do believe that they have a responsibility to contribute to the overall well being of the rest of society if they intend to continue earning and reaping the benefits that such a society has given them.

And no, being the job creators is not enough. They still should pay taxes and a reasonable amount. On another note, not all wealthy people are job creators. Many job creators become wealthy, but that does not mean that all wealthy people are job creators. Many just sock their money away in fairly safe investments and live off the earnings. I don't have a problem with that either, but they should pay a fair share of the tax burden, and their fair share is much greater than a minimum wage worker.

 

[Cecilie1200]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

It doesn't matter how they accumulated their wealth; it is theirs, plain and simple. The question is whether they should be taxed on that wealth or income and how much. The argument is whether or not they should pay more than lower income earners due to their good fortune, no matter how they came about that good fortune. For some, it is through hard work, others it is through good fortune, and some it is through inheritance. I am not interested in taking their wealth away from them. However, I do believe that they have a responsibility to contribute to the overall well being of the rest of society if they intend to continue earning and reaping the benefits that such a society has given them.

And no, being the job creators is not enough. They still should pay taxes and a reasonable amount. On another note, not all wealthy people are job creators. Many job creators become wealthy, but that does not mean that all wealthy people are job creators. Many just sock their money away in fairly safe investments and live off the earnings. I don't have a problem with that either, but they should pay a fair share of the tax burden, and their fair share is much greater than a minimum wage worker.

"Fairly safe investments". You mean, like large, stable companies that employ and provide job security for lots and lots of workers? THOSE sorts of fairly safe investments?

Bottom line: wealthy people are ALL job providers in one way or another, unless they've got their money stored in their mattresses.

And listening to people talk about "fair shares" gives me the willies, because it always seems to mean "We're going to punish you for not being a pitiful wage slave like we are".

 

[Article 15]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

If there is a bracket created that raises the tax rates of income earned over 250k to 39% the person earning 250k would see no tax increase.

 

[Remodeling Maidiac]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

It doesn't matter how they accumulated their wealth; it is theirs, plain and simple. The question is whether they should be taxed on that wealth or income and how much. The argument is whether or not they should pay more than lower income earners due to their good fortune, no matter how they came about that good fortune. For some, it is through hard work, others it is through good fortune, and some it is through inheritance. I am not interested in taking their wealth away from them. However, I do believe that they have a responsibility to contribute to the overall well being of the rest of society if they intend to continue earning and reaping the benefits that such a society has given them.

And no, being the job creators is not enough. They still should pay taxes and a reasonable amount. On another note, not all wealthy people are job creators. Many job creators become wealthy, but that does not mean that all wealthy people are job creators. Many just sock their money away in fairly safe investments and live off the earnings. I don't have a problem with that either, but they should pay a fair share of the tax burden, and their fair share is much greater than a minimum wage worker.

Just one point to make about your post. Those people that make their money through investments. Where do you think that money goes? It's not just sitting in a vault somewhere. That investment is reinvested 10 times over. Ultimately it does create jobs as it trickles through the system. You've probably got investment money in your pocket right now.

 

[IndependntLogic]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Look, I don't consider myself "rich" in the monetary sense but I guess some people would. I'm certainly rich when it comes to health, a great family, faith, fun, stuff like that.

It is definitely my goal to eventually sell my business, live my retirement years off of well calculated investements and of course, leave something behind for my family.

So what is your problem with that?

 

[Remodeling Maidiac]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

Ah Geez--You can walk down your own main street. You will see doctors/dentist's office's--the guy who rebuilds car engines--your auto mechanic--your construction company--from A to Z--who bust their butts every single day of the week to bring a necessary service to this country and you. They are called small business people in this country and are also known as the largest employer of it.

The PRESIDENT you voted for--decided to attack these same small business people with his continual and on-growing threat that if they make 250K per year--he is going to throw them into the exact same tax bracket (39%) which is exactly what multi-billion dollar corporations pay. If you add in state and local taxes--you are taxing the hardest working, most innovative people in this country 50% or .50 cents on every dollar they earn.

This is the economic terrorist you have elected. And then your Harvard graduate--community organizer--most intellectual President ever--wonders where the "jobs" are?--

Small business in this country has tucked in like a turtle and is waiting for the threat to leave. And that threat is Barack Obama. Not everyone that earns 250K per year pushes a button and works on 2 blocks of lower Manhatton in New York City--Da--Duh.

If there is a bracket created that raises the tax rates of income earned over 250k to 39% the person earning 250k would see no tax increase.

There are nearly a trillion in taxes and fees in the healthcare law. They are largely targeted at the wealthy. As are the bush cuts that expire in 2013. You've got enough. Now just budget it properly and everyone can stop bitching about low taxes on the rich.

 

[auditor0007]

According to the IRS, the answer is mostly not.

Of the richest of the rich only 6.5% of income was from working, as of 2007. The rest came from things like interest, dividends, and capital gains.

In other words, the kind of income you get without having to wake up in the morning.

Which raises the question: if the rich are consuming without working, who is doing their work for them?

Link

I guess that would depend on your definition of "earn". If you define it as "suffering through a shitty job for someone else every day like I do", then no. The point of becoming rich is so you don't have to do that any more.

On the other hand, if you define it as "paying your dues to become wealthy enough to spend your time running your own business and/or managing your investments", then yeah. The vast majority of the rich DO earn their money. It's a known fact that most millionaires in this country are self-made.

You DID know that earnings from your own business are often not filed in the same way as income from a paycheck, right?

File this under "liberal class envy".

You realize that we would not be having this argument if the middle class and lower income earners had benefited even half as much as the super wealthy from increases in productivity over the last thirty years. But the fact is that income for the middle class and lower income earners has pretty much been stagnant while income for the very top has increased dramatically.

There are obviously many reasons for this, but the bottom line is that the super wealthy have lined their pockets at the expense of everyone else. Many companies, especially larger employers used to keep pension funds for employees' retirement. Then they switched to 401K plans where they contributed a significant amount to the employees' plans. Now, most of them have stopped doing that too, and all while their profits continued to increase and made them richer than ever. The workers who made it all possible have been left with very little, but the argument that is thrown in those very worker's faces is that they just aren't working hard enough.

The bottom line is that we wouldn't even be having a discussion concerning redistribution of income if everyone had benefitted from the productivity gains of the last 30 years.

 

[shintao]

The rest came from things like interest, dividends, and capital gains.

I have no doubt that much of the income generated by privileged wealth in this country is 'unproductive'. We have endlessly polluted market dynamics with distorting regulation and state manipulation that usually work to benefit the established interests (those with the wealth and influence to steer policy in their favor).

But outside the corrupting influence of the state, the notion that interest and capital gains aren't 'earned' income is naive. The profit derived from wise investment represents one of the most important jobs that get done in a free economy. That's something anti-market people never seem to get. Even in a state-run, command economy, someone has to make the decisions guiding how we apply our labor and resources. If they do it well, we all benefit. If they do it poorly, we all suffer.

In a free market, the people making these decisions are capitalists. They are the people in charge of deciding which projects are funded, and which aren't. When they make good decisions - we reward them with profits (interest and dividends). When they make bad decisions, they lose their investments, and someone else takes over.

LMAO!!! That sounds dreamy. But when they make bad decisions in America, they get bailed out with someone else's money.