Victory for Trickle Down.......Richest Americans wealth jumps 8%

[asterism]

No. Please elaborate.

credit is a two way street. One party lends and gets wealthy off the other party who borrows.

Since you didn't see the edit:

If my investments are paying 10% and I can borrow at 7% then there is no reason to stop making 8% on existing investments to start another venture.

 

[asterism]

Lots of them got rich off of credit. why else would banks be to big to let fail?

Nope, most of them didn't get rich off of credit. Credit is the resort of the foolhardy. The reason why the banks were 'too big to fail' was simply this..... Had we allowed the banks to fail, every single fucking American... and vast amounts of people around the world... would have lost everything. And, by everything... I mean literally EVERYTHING. We'd have had even more millions out of work, vast amounts of us would have lost our homes, cars, and the country would have collapsed. Shame of it is that morons who think life is like a movie - with a neat conclusion in 90 minutes. Newsflash: It isn't.

Well that's just not true. Allowing banks to fail would not and has not allowed everyone to lose money. Only those who invested money in those banks would have lost. To date no deposit, even those above the then $100K FDIC limit has been lost.

Justify the bailouts on some other means. I agreed with a reasonable amount of Keynesian government intervention in 2008, but it was too much and in true government fashion it rewarded the well-connected failures at the expense of the prosperous.

 

[rightwinger]

What gets me is how people like you think you're entitled to their money.

Yes their money...

The ones who told you they had no money when the froze your salary
The ones who said they couldn't afford it when they slashed your health benefits
The ones who told you how hard times were when they fired you

Those are the ones who saw their wealth increase 8% last year

You Poor dumb liberals just hate anyone with money! What a bunch of whiny sissies you are. Create your own job.

Sure Zander....typical unrealistic conservative answer

What happens to the rich when they can't get anyone to work for their wages?
Oh yes.....100 million Mexicans

 

[rightwinger]

Wealthy people, often, are wiser with money. They know how to handle money, and so when real estate comes on the market for bargain rates, they can snap it up.

They didn't get rich by living off credit cards and buying crap they couldn't afford. They got rich by being intelligent, making long range plans and carrying out those plans. It was no accident that they got rich, but a result of hard work and lots of planning.

Lets put away the fantasy for now...

The rich getr rich off of credit....billions of dollars of government backed credit, Credit that is offered at terms workers can't obtain. When they fail, do they become poor? Hell no.
Because it was not their money. They just declare bankruptcy and start over.

The rich get rich because they are smarter than the rest of us. They convince the working class to blame the poor for their struggles in life. All the while claiming ignore the fact that I am making 8% more thios year......It is the people on welfare who are to blame

The Forbes 400 do not get rich by taking risk. They get rich by ensuring there is no risk in their investments.

 

[LibocalypseNow]

Who cares? It's their money no? They worked their a*ses off for their wealth. It's always shocking observing Socialists/Progressives whining about those "Evil Rich People" and them actually believing they're entitled to other citizens' hard-earned money. They really believe that successful Americans owe them something for doing nothing. It's just such a warped & flawed mentality. Socialism/Communism just doesn't work. It's time for many in this country to grow up and accept this. Successful Americans don't owe whiny Socialists/Progressives anything. End of story.

 

[boedicca]

The Big Government types who advocate punishing the rich for being better off often remind me of the old Aesop's Fable: The Fox Without A Tail.

It happened that a Fox caught its tail in a trap, and in struggling to release himself lost all of it but the stump. At first he was ashamed to show himself among his fellow foxes. But at last he determined to put a bolder face upon his misfortune, and summoned all the foxes to a general meeting to consider a proposal which he had to place before them. When they had assembled together the Fox proposed that they should all do away with their tails. He pointed out how inconvenient a tail was when they were pursued by their enemies, the dogs; how much it was in the way when they desired to sit down and hold a friendly conversation with one another. He failed to see any advantage in carrying about such a useless encumbrance.

"That is all very well," said one of the older foxes; "but I do not think you would have recommended us to dispense with our chief ornament if you had not happened to lose it yourself."

The Fox Without a Tail an Aesop's Fable


Moral: Distrust interested advice.

 

[Trajan]

it always the same nonsensical horsehocky.This really is the horse beat beyond skin and bones....

The left thinks or that is peddles the sob story, the system or man keeps them down becasue "they" 'have it all' and you/them are denied what they have......of course anyone who has an ounce of sentience beyond a darter snail can figure out eventually that that is all hooey.

There is for all practical purposes an infinite amount of dollars out there. There is no money supply that gets turned off when Bill Gates or Warren, or, well since they are leftist, lets say Koch or Olin make a billion that that means the poor and down trodden now have a billion less available to them to earn.

The poor and downtrodden are only denied what they DENY to THEMSELVES; an education, or talent coupled with a very strong drive to excel/succeed that they ACT ON.


The left as usual makes excuses and seeks to cure the symptom not the decease, curing the decease is to to hard you see, plus it would rob them of their martyr complex and......votes......

 

[LibocalypseNow]

The Socialist/Progressive idea that successful Americans should be ashamed of themselves and deserve having their money confiscated by the Government,is just so wrong and bizarre. It's straight out of the Mao Tse Tung handbook. They're the ones who should be ashamed of themselves in my opinion.

 

[Trajan]

class-warfare, it really is all they have.....

 

[Spoonman]

for every one that made it the hard way, aka New Money types. There are hundreds that made it the old fashioned way, they inherited it it. aka old money types.

But they maintain it. That's the difference. Look at all the street urchin athletes and rap stars that make a fortune and end up broke.

If the inherited wealth can make it past the first round of inheritances then it will likely continue. Many fail when the parton leader that led the family to wealth dies.

Because they work hard to keep it going. That's the point you continually miss.

 

[Skeptik]

But they maintain it. That's the difference. Look at all the street urchin athletes and rap stars that make a fortune and end up broke.

If the inherited wealth can make it past the first round of inheritances then it will likely continue. Many fail when the parton leader that led the family to wealth dies.

Because they work hard to keep it going. That's the point you continually miss.

Or is it because wealth begets wealth?

 

[Samson]

What gets me is how the rich whine and whine about a 2% bump in income tax.

What gets me is how people like you think you're entitled to their money.

Yes their money...

The ones who told you they had no money when the froze your salary
The ones who said they couldn't afford it when they slashed your health benefits
The ones who told you how hard times were when they fired you

Those are the ones who saw their wealth increase 8% last year

Microsoft founder Bill Gates sits at No. 1 with $54 billion.

Berkshire Hathaway head Warren Buffett ranks No. 2 with $45 billion.

Oracle founder Lawrence Ellison is at No. 3 with $27 billion.

Do you have any proof that Microsoft, Berkshire Hathaway, or Oracle did anything close to what you claim?

As of June 30, 2010, Microsoft employed 88,596 and had net revenue of $62.48B

And guess what?

They didn't need to pick my pocket to employ anyone.

 

[Chris]

class-warfare, it really is all they have.....

Class warfare?

The war is over.

The rich won.

They amassed vast wealth, elected Republicans to lower their taxes, stole the life savings of all Americans, and made the American taxpayers pay for their stolen money.

And now all people like you can say is...

"Thank you, sir! May I have another!"

 

[Trajan]

class-warfare, it really is all they have.....

Class warfare?

The war is over.

The rich won.

They amassed vast wealth, elected Republicans to lower their taxes, stole the life savings of all Americans, and made the American taxpayers pay for their stolen money.

And now all people like you can say is...

"Thank you, sir! May I have another!"

and there ya go......

forget darter snail, lets lower the bar, say protozoans?

 

[rdean]

Richest Americans see 8% jump in total worth, 'Forbes' says - USATODAY.com

The nation's richest Americans have seen a healthy jump in their net worth, even as the economy faces an uncertain recovery.
The total worth of the 400 members of the Forbes 400 list of the richest Americans rose to an estimated $1.37 trillion in 2010, up 8% from 2009, according to the list released late Wednesday

Only another trillion dollar tax cut for these guys will fix anything.

 

[rdean]

If the inherited wealth can make it past the first round of inheritances then it will likely continue. Many fail when the parton leader that led the family to wealth dies.

Because they work hard to keep it going. That's the point you continually miss.

Or is it because wealth begets wealth?

No, wealth begets politicians. Politicians change the laws and deregulate. That begets more wealth.

Obviously, you're not wealthy.

 

[Trajan]

Because they work hard to keep it going. That's the point you continually miss.

Or is it because wealth begets wealth?

No, wealth begets politicians. Politicians change the laws and deregulate. That begets more wealth.

Obviously, you're not wealthy.

yea, they sure as shit de-regulated GM.....

 

[Chris]

Unregulated capitalism destroyed the American economy.

For 60 years we did fine with the safeguards that were in place, and then in an instant, they were gone and so was our money.

 

[Trajan]

oh you lost money ? so is that what this is about? sorry to hear it.....

 

[Zander]

I still have my money - no wait - I have more. Yeah, it was really bad....