Do the rich earn their income?

[cutter]

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

The kind of income you earn by investing in companies that create jobs for those that have to get up in the morning. Without these people the jobs go away. We are seeing this happen. The more we demonize, and discourage their investing the more jobs we lose. We need to make it profitable for these people to invest which will create more jobs. The more these people make the more jobs they will create. Along with that we need to deregulate business and make our country business friendly so the businesses come home. If you think we need all these regulations to protect us from the big bad businessman then you have to accept our job situation the way it is now. The jobs won't come home until we become more business friendly. You will never have businesses expanding in this country if you want to regulate every aspect of their operation. Either change or accept things the way they are.

 

[Full-Auto]

u dont scare anyone.

Im not trying.

But I do laugh at those that piss their pants at the sight of a firearm.


Full-auto isnt just an avatar, its a collection.

 

[G.T.]

u dont scare anyone.

Im not trying.

But I do laugh at those that piss their pants at the sight of a firearm.


Full-auto isnt just an avatar, its a collection.

I think, that you think, that people piss their pants at the sight of a firearm and so purchasing them alleviates your insecurity. Just a random internetz meaningless opinion, though.

 

[Full-Auto]

u dont scare anyone.

Im not trying.

But I do laugh at those that piss their pants at the sight of a firearm.


Full-auto isnt just an avatar, its a collection.

I think, that you think, that people piss their pants at the sight of a firearm and so purchasing them alleviates your insecurity. Just a random internetz meaningless opinion, though.

I know so..... Too many reactionaries here in my blue state.

Just the thought of one being present but not exposed makes them uncomfortable.

 

[cutter]

u dont scare anyone.

Im not trying.

But I do laugh at those that piss their pants at the sight of a firearm.


Full-auto isnt just an avatar, its a collection.

I've got a few of my own. Not full auto but semi-auto works fine too.

 

[Liability]

For the record: "things like interest, dividends, and capital gains" IS earned wealth.

 

[Kuros]

Did they steal it from you?

Some did. It's why we have financial collapse. They buy politicians to deregulate or change laws. It's how an economic meltdown can occur and no one arrested. These things don't happen by themselves. I thought everyone knew that.

What was stolen from you? Something you earned? Or something you think you're entitled to? Did they use a gun? Can you give the police a description of the person who stole from you?

In the case of the banksters and much of the wealth accumulation on Wall Street, yes it was stolen from us, the people, the taxpayers, present and future.

Taibbi has specific names.

 

[Full-Auto]

u dont scare anyone.

Im not trying.

But I do laugh at those that piss their pants at the sight of a firearm.


Full-auto isnt just an avatar, its a collection.

I've got a few of my own. Not full auto but semi-auto works fine too.

Actually preferred. Full auto is only for suppression and movement. I dont think we will have the masses charging the hill as in Korea anymore.

But they are damn fun to shoot.

 

[Sundial]

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.

It matters how people make their income. The Enron people made millions. The people who created the current recession made millions too.

 

[LordBrownTrout]

Don't forget "inheritance". Republicans call that "the good old fashioned way".

Inheritance and estate taxes have already been paid and shouldn't be taxed again.

 

[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.

It matters how people make their income. The Enron people made millions. The people who created the current recession made millions too.

Barney Frank made millions?

 

[Sundial]

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".

The point you're not getting is that those "pitiful wage slaves" pave the roads, stock the shelves, make the food, tend the sick, and teach the children. In short, they make everything and do all the work.

If the rich aren't working, who is doing their work for them?

 

[cutter]

When obama said at some point you've made enough money what he really said is at some point you've created enough jobs. Do you really thing these people are going to risk their own money to back business, some of which fail, for no reward? If you do you're living in obamas dream world.

 

[Missourian]

The point you're not getting is that those "pitiful wage slaves" pave the roads, stock the shelves, make the food, tend the sick, and teach the children. In short, they make everything and do all the work.

If the rich aren't working, who is doing their work for them?

This is the dumbest question ever.

What is your point?

I'm not paying for them, so what do I care "who is doing their work".

You work to make money, if you HAVE money, you don't need to work.

No one is "doing their work for them".

Now, people on welfare...that's a whole different story.

You and I are doing doing their work for them.

We work to pay them to do nothing.

 

[Sundial]

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?

No problem. I aspire to be parasite myself.

Not everyone can be a freeloader, though. Somebody has to do the work.

And working for a living doesn't make a person a "loser" or an "idiot."

People who think like that need to get their heads straight.

 

[Sundial]

Now that he's in a position to have employees, he's got a lot more to do every day than just one narrow, assigned job. He gets to oversee EVERYONE ELSE'S jobs, making sure that the books are kept honestly, the payroll is done correctly...

I thought the rich became rich so they don't have to work...

Why can't you keep your story straight?

 

[Sundial]

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

Most of my income comes from how I have invested my money over the years. Currently, 80% of my income is unearned. If people like you get pissed off because you can't do the same, the solution is simple. Work your socks off, make the right investments and quit your fucking moaning! Nothing in life is free! The sooner you learn that lesson, the better off you'll become!

You don't get it. Suppose everyone lived off unearned income. Who would do the work?

There's no free lunch. If you're consuming without producing what does that make you?

 

[Liability]

Don't forget "inheritance". Republicans call that "the good old fashioned way".

Inheritance and estate taxes have already been paid and shouldn't be taxed again.

Libs don't like the concept of "basis" when it comes to taxing those evil, greedy, probably Republican, "rich" people.

 

[Sundial]

..... I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate’s distribution of long straws is wildly capricious.”

- Warren Buffett, (Buffett Says ‘Capricious’ Economy Requires Charity (Update1) by Hugh Son, Bloomberg, June 16, 2010 16:17 EDT)

Warren Buffett - Wikipedia, the free encyclopedia

As usual, Warren Buffett has put his finger on the fact that the distribution of wealth in America, more often than not, excludes those who have made the greatest contributions to society.

The 2008 recession was largely caused by the unchecked "greed" of the wealthy who abused their position of trust. Unfortunately, it appears that we haven't learned our lesson!

How people make their money is important. Extravagantly rewarding people for doing things that are counterproductive is not only an injustice, in the long run it's economically destructive.

 

[Missourian]

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

Most of my income comes from how I have invested my money over the years. Currently, 80% of my income is unearned. If people like you get pissed off because you can't do the same, the solution is simple. Work your socks off, make the right investments and quit your fucking moaning! Nothing in life is free! The sooner you learn that lesson, the better off you'll become!

You don't get it. Suppose everyone lived off unearned income. Who would do the work?

There's no free lunch. If you're consuming without producing what does that make you?

They ARE producing, non-thinker.

They produce investment capital.

Without investment capital, many businesses would not be able to open or expand and jobs wouldn't be created.

Think before you post.