Poll: Bush worst president in 61 years

Originally posted by dr_strangecraft
I'm using the definition of wealth used in The Millionaire Next Door. Which is a household with a net value of one million dollars or more.

All the more reason I would have thought sooner. One million dollars is nothing, really.

Originally posted by dr_strangecraft
1. No help with cars.

Cash only. Never finance. If you can't afford it, use alternative transportation until you can.

Originally posted by dr_strangecraft
2. Limited help with college.

Ditto

Originally posted by dr_strangecraft
3. No inheritance, other than family keepsakes.

Here I disagree. Real wealth building comes in part from this ability. If you've done your job raising the little carpet riders, this could represent the most profound factor on their journey to financial freedom.

Originally posted by dr_strangecraft
Gotta scoot, I have a plane to catch. I'll be out of contact for a couple of weeks.

Have a great trip. Upon your return, then.

[edit on 2-6-2006 by loam]

Originally posted by dr_strangecraft
When it comes to the trade deficit, maybe you could use some education. Can you name times when a country has run a trade surplus? How about Japan in the early 1990's, when it hit the worst recession since WWII. Or the United States, during the Great Depression. A trade deficit merely shows that we imported (and paid for) more objects than we sold to foreigners.

Well, as you can imagine, the rest must come form credit. So we effectively growing our already huge foreign debt. There is just no way around that. The Chinese are sitting on a huge amount of Treasure Bills, and our children and grandchildren will be paying the interest. I hope this logic is simple enough.

Developed nations with expanding economies always run trade deficits.

I don't see our economy expanding as rapidly as the Chinese, for example

These numbers affect the cost of buying a car or renting an apartment, or buying groceries more than the national debt and trade deficit do. But keep looking; I'm sure you can find a big black ominous cloud for every silver lining.

Yes, I do see lots of black ominous clouds. You care about the cost of buying a new car. I care about the sagging level of education and declining health of the nation. I don't doubt for a second that these issues, along with alternative energy, could have received at least partial solution in the past year have we not been bouncing rubble and killing people in Iraq, and losing our own in the process.

You don't care about the astronomical level of our national debt but it'll have to be paid off from our present and future taxes, meaning less funds for real needs of the Americans. All for that middle eastern adventure.

look duder...

You yet again pick out stuff that was not the focal point, and pick the outer edges.


My point is

First class taxes for first class life and perks.

Coach taxes for coach wages.

No Coach taxes for first class people. Simple logic.

You fly on airlines. Don't first class people get pissed when you use there bathroom. And they can use the coach restroom.

Hey I don't mind the airline called america having first, business and coach class, as we all are all going to the same destination.

But if you think the person sitting eat seat 1A should pay amount of tax as seat 48E then you are sadly mistaken. That fare should be higher.

You blow it up that the rich are being squeezed by the injustice of having to pay 10% or so more in taxes.....booooo hooooo...... I say it is fair in my opinion.

My point is above
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The millionaire next door is the low end of the spectrum. I am talking about the top 1%. Sure they pay a ton of taxes, but they also have a higher percentage of the wealth then anytime in this country.

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We all had to put ourselves thru college. big deal.

You will have to admit that a wealthy child has an advanatage in that I had to work 30 to 40 hours a week at a job while going to college. While this person gets a wire transfer of cash each month and uses a credit card and has someone else pays it, and never sees a bill. Those are the breaks of being born of being born to a circumstance. You make your own way, but some have a way easier path.

This is an advantage in time used to study.

So we had it a bit harder and we try harder to get good grades.

But to not see wealth as an advantage that is in society, and not tax that service that is there is crazy.

We tax soda, gas and many other things.

Why not tax the easier lifestyle a little more.

I am waiting for you to bust all of this now.

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You stated that most trusts can't be tapped until after the parents die, and the kids are in there 40's and 50's.

Well I'm calling you on this one. In all the trusts I see this is absolutely wrong and a bogus statement. Many parents set up trustfunds when the kids are born, and are available when you are 18/21. Many parents shift wealth to the kids trust later in life to skip out on paying taxes when they die.
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We both have different opinions on this.

It depends on the trust the parents make. Some have it so the child gets X amount of money at Y age. Some children get the trust fund starting at 13 others get it at 21.

Also I am not sure I like your first class tax coach class tax system. I work hard for my money sometimes putting in 60 hour weeks and sleeping at the office around the end of the Quarter, do I want my money to come in smaller sums because I worked more and made more? Now right now I have plenty of free time, especially since I am not at the home office, but when I do go back to the home office I would hope my hard work is payed better.

Of course you are talking about American taxes but if America starts it I think it would spread to other countries.

If you are working 60 hours a week to make more money good for you. I am not even close to talking about your tax bracket even if you make a great living. I love how you make the jump from my statement to make yours on such a low threshold of income earned.

I really do not like your belief in a tax system that favors the haves, and that you kick kittens.