The rich are getting richer.....

[blitzkraig]

Hmmm...well I see the topic has degraded a bit. There have been some very interesting views and I've loved reading them, but I think unless anyone else feels obliged to say anything, we can stop this thread.

Just want to say one last thing. Chris, you've made quite a few assumptions simply based on my views of the extremely rich in this country. I'm not going to backlash at you; just tell you I am not many of those things you have labeled me. Just do me a favor, get to know someone more before you decide you hate them. And btw, I'm not one of those people who spills coffee on themselves and sues; I think the person who did that deserves to be dragged into a back alley and shot for their own stupidity.

Goodnight my friends

[1 Bravo 6]

:finger:

Bloody heck, Chris,

Was that REALLY called for ?????????

I think it safe to say that I was not the only one who found the conversation both interesting and thought provoking.

blitzcraig,

For what it's worth, you DID make some valid points that need to be addressed.

Rick.

[SuperCharged-Z-]

Well to say capitalism works is of course just as foolish as saying communism works, when we know capitalism works well for some and that is the truth of it, some it just works for and others it leaves in the dust. Being of a more socialist mind myself I don't really agree with capitalism, and what most people are complaining about is part and parcel of what a capitalist state provides. I guess the world has come to measure the success of an ideology by a countries wealth or its GNP or whatever. I guess I don't see the point since those people may not be any happier and since we are all mortal what does it matter how much of something we have? Don't get me wrong I find socialism hard to embrace like many I have wants and wishes but expectation and desire cause suffering as was displayed in the post that started the thread. I know almost no one agrees with me but I think it's best to limit ones wants and expectations in life because the more we are able to rid ourselves of these the better quality of life we live, perhaps it's not a long life but happiness is the key to quality not longevity.

Basically money is just a drug the more you have the more you want it, such is the way of the world today. I don't claim to be any better than anyone else but I'm working on it. Remember life is suffering, suffering is caused by desire, suffering can be overcome. Of course I'll save you the 4th noble truth because I don't want to sound preachy and we can all choose our own paths in life can't we.

[SHOTIME]

Well...yea...the rich own everything. 95% of that list started their own business. Tom Gallisano started Paychex with $3000, and is now a billionare. If you work for somebody, you're making money for them. The solution is to start your own business. You're aren't a slave to your employer, you choose to work there. For my age I make pretty good money, yet I still work for somebody. I get 50% commission, so I "make" double what shows up on my check. In the spring I'm starting my own business and from what I figure, should be around 6 figures, high 5 for income. So I'm on my way to being "rich". Most people who are rich, deserve to be so. What they do for fun in your mind is the total opposite of what is actuality. Most work 12 or more hours a day, and when they aren't at work, they're thinking about work. I've planned 10 years, since I was 15, on starting my business. I've worked jobs just to see how things were run, my job I have now I got just to make contacts for accounts. If you don't like rich people, move to Cuba. It's not a rich persons fault you aren't rich. Making money is easy, it's finding out how to do it that's hard.

[Daniel]

Anyone with an interest in this ,I would suggest Rich Dad,Poor Dad by Robert Kiyosaki.It is the first in a series.It is a powerful easy read for those that what to get ahead.The second item is the ceo money.Someone(s) had to approve that outragous amount!!!Hell,I'd take it too.As for the stock option thing.Thats the company giving him the right should he want, to buy the stock.The day the stock went on the market they made their money.After that its just paper to them..They cost the company near nothing.The worth of that paper is only perception and that can change fast.I am saddened at the Enron type stories in the news each day.The people that get hit are the stockholders If the options have value and that same someone(s) OK's the change to make sure they ALWAYS DO!(Them!! Again!!) an increased supply of his stock sales usually causes a drop in price only if the option is excersized and he sells..Think about that as you have money removed from your check to buy that paper. Like vegas,Everyone can't be a winner.Think Smart!! Or as I Kwi Chow Cain once said---In life you must paddle your own canoe --Grasshopper! Use that library that someone that played the game different built for you to find your answers.I bet those ceos and someone(s) make money when the market goes down as well as up.Wonder how they do that?

[MikeW]

Originally posted by blitzkraig

Take the CEO of the NYSE for instance. He apparently was getting paid over 100 million a year! What exactly does one do that deserves that much money?

Perhaps someone out there is listening to you:

http://money.cnn.com/2003/09/21/markets/nyse_reed/index.htm?cnn=yes

[abas]

Originally posted by MikeW

Visit a typical home in the UK or elsewhere in Europe and you'll find that an automatic dishwasher is considered somewhat of a luxury.

Mike

Coming to this a bit late like, but when was the last time you visited the UK? I don't know anyone who doesn't have a dishwasher. !!!!!!!!!!

Can't vouch for the rest of Europe though.

[halz]

Similar debates rage in Australia where the term "high income earners" is bandied about. What is a high income earner? Well, If you are the Australian Government, anyone earning over about $60k (AUD) is considered high. That is where our maximum marginal tax rate of 47% kicks in. Yes, my American friends, 47%!For every dollar over 60 grand, the Aussie government takes nearly half. So there may be high incom earners in Australia - and we have our share of millionaires too- but they pay a hell of a lot more tax than middle and low income earners...a fact conveniently overlooked by most commentators.

Allow me to anticipate your next point - tax evasion, right? Kerry Packer, an Australian media magnate and multi millionaire put it quite well "Everyone is entitled to pay the minimum amount of tax they possibly can WITHIN THE LAW - you would be a fool not to." The point is, if you are able to structure you finances in such a way as to minimise taxes legally, the good on you!

I want to earn a lot of money, but I am tarred with the brush of "high income earner". I pay high tax. How much do I have to earn before I can keep some?

[MikeW]

Originally posted by abas

Coming to this a bit late like, but when was the last time you visited the UK? I don't know anyone who doesn't have a dishwasher. !!!!!!!!!!

Sorry, I didn't mean to provide misleading information. I visit the UK somewhat frequently but never in private homes. The statement comparing luxury items between our two countries comes from conversations I've had with residents of the UK. I'll be happy to take back what I said.

[Alfadog]

Whilst in England I went to 3 middle-class homes, none of which sported such a luxurious device as a dishwasher.

Funny, the results of this survey have surprised me at least. Obviously 'middle-income' earners in the US earn a fair bit more than 'middle-income' earners here in Australia...

Or am I just a naive little boy?!?!?!:stupid:

[HS30-H]

I AM the dishwasher in our house.

A few years ago an automatic dishwasher would have been seen as something relatively unusual here - but perhaps not quite so much now.

One thing that irks me about money issues here in the UK - and London in particular - is the huge rise in the value of property ( real estate ). I actually can't afford to buy even an apartment here in my own home town. There are people making enough of a living from renting out just one or two properties in London that they do not need a proper 'job'. That's crazy. Bus drivers, street sweepers, teachers and nurses are forced to live way outside the central area and have to travel large distances to get to and from their workplace.

For the money that I pay out in renting my home, I could probably buy a relatively large house in a beautiful green area with lots of space - but I would have trouble finding work. I'm pretty-much painted into a corner. The same money would probably buy an even bigger place in the USA, and a bloody ranch in Australia. I probably earn a fairly good wage - but it just does not go far here in central London. Apparently, London is currently one of the most expensive places to live in the world. What has happened to my home town?

Alan T.

[Caen Fred]

To all of you wanting to try the Socialist way... be my guest!

We still have a lot of them here, and I would be please to send you a few, I might even give you one or two comunist for good mesure!

ROFL ROFL

What is a dishwasher?