Rich getting richer... fast?

Question

This sentence was in the recent ap story on the new budget...

"Impressive corporate profits and big income gains by the wealthy were largely responsible for driving up tax revenues and, in turn, pushing the deficit down."

... now you may talk about "oh they work harder and invest wiser"... that much harder and that much wiser?

It sounds like the government is tilting everything to the advantage of big business and the wealthy... and I think that's going to come from somewhere... prices are on the rise (insurance, gas utilities) while income for the majority is not increasing at the same rate... but I guess that's how they are getting rich?

ever economic indicator seems to be on the rise... yet I haven't seen any impact of that and no one I know has seen an impact...

Edit: every*

rockandroll5... I work hard, but money isn't my motivating factor... I do ok...

it's just that I know people that work much harder than you or I work, that make much less... how do you explain this?

doh, I forgot to cite... third paragraph...

http://news.yahoo.com/s/ap/20060711/ap_on_go_pr_wh/budget_deficit;_ylt=AgIhafA3Rziu8PMt6_UtNFWyFz4D;_ylu=X3oDMTA0cDJlYmhvBHNlYwM-

dapixelator: I guess here is my "complaint"... those people you mentioned work hard... but barely make a living wage, while some are trying to decide if they want the gold or silver rolls royce... is anyone's skills so much more valuable that one person makes 1,000 times what another person makes? are some people 1,000 times more valuable than others?

wooleybooley: that's great... but for every one of those, there seems to be 10,000 factories closing down and moving to China or some NAFA country... meanwhile, the company owners get much more money, while poor America dies...

Answer 1

Hey 3d what's up girl.

Yes they are. There was a series about this today on PBS's The Newshour. (They were discussing the numbers that were released today)

A major problem is that the wealthy, by definition of being the wealthy, spend as much as they want to spend already. Meaning, they won't spend anymore just because you cut their taxes; therefore, it's a misconception that the money trickles back down.

I think what your question is trying to illustrate is the false sense of security for the less than wealthy that this growing economy is giving. Sure our economy is getting better but for who? Right?

And you are exactly right, ppl are working harder and longer for less today while also having to pay more for basic necessities (gasoline, heat/ac, food, healthcare, etc...)

What always amazes me is when ppl bring up class warfare. Absolutely hilarious when 80% of the wealth in the USA is inherited. They would have an argument if the rich had worked for their money. Meanwhile, we watch our parents and grandparents go to their graves with next to nothing.. and they worked their entire lives.

And lastly, yes that is how the rich are getting richer... on the backs of the common man/woman that has to basically sit back and eat it as we watch the middle class fade into history.

Answer 2

When I was a teenager I used to stay awake at night thinking of ways to make money. They always seemed to need money up front to make it work. First, forget about 'fast'. It usually involves breaking the law, which is a shaky foundation on which to build your wealth. I think it is actually easier to build wealth while staying within the law. Second, you must learn how to save money. I don't mean paying low prices on goods, I mean put the money in your bank account (don't spend it), and keep it there, and then keep putting more in. Never borrow money for a car or furniture. Make do with what you can pay cash for. (borrowing money makes the banks rich, not you) Minimize your expenses, rent a cheaper house, use public transport, make your own meals, etc. Make sure that you are spending less than you earn. There are lots of books about building wealth, out there. 'The complete Idiot's Guide to Getting Rich' Is a really good one, you can even skip to the end if you are still in a hurry. It all seems like a lot of effort, but it is well and truly worth it. Best of luck. PS you can be a millionaire and have friends too.

Answer 3

Assuming that's true-- rich and companies are paying more taxes -- why is it you people are never happy? That IS what you class-war mongers want right? Geez, not only are marginal rates higher, top 20% pay the vast majority of the taxes. Now they are paying even more.

Look, I'm sorry if a Janitor or Garbage Truck Driver or 7-11 worker doesn't make $100k a year. Not my problem. Should they make a decent living wage - sure. But if I worked hard, went to school, worked hard at my career, it's not my issue that people make less. If my skills are worth more, and harder to replace, then I should make more. This is not a communist country.

I pay (more) than my fair share of taxes.

In Response-- Yes, some are worth alot more. That's why some people make say six-figures and somebody else makes 30k. Its not how hard one works, its what their time and skills are woth in the marketplace. Sure some CEOs make way more than what they should but the top 1% is a fairly small number. And the guy who takes the risk and owns his own business- he should be able to make alot of money

Answer 4

The middle class will soon be gone because of the jobs being sent overseas .. There will always be the poor and the rich . If you live on either coast and in the south you are probably doing OK , but there are places in this country that are hurting and struggling to survive day to day .. they work hard and long , but never seem to get anywhere , don't have health insurance , can't afford medication or the gas to get to work . Where is there any help for them .
BeachBum you have it right , you go girl !!

Answer 5

Jealous? Work harder. Reduced taxes increases investments, stimulates the economy, increases employment. Like Google just announced a $20-$50 million new building they are going to build in Ann Arbor, MI because they got a twenty year deferment on taxes for $ 28million. It is estimated this will bring 1,000 jobs to Ann Arbor as well as $136 million to the local economy.

Sad, liberals (Democraps) still can't figure out (never will) how this works.

Answer 6

I'm sure not getting richer, neither is anyone I know.

These glowing reports of the economy are either false or skewed toward the rich.

if the rich are getting richer they are not paying enough taxes, they are getting rich off the system that we all work hard to maintain, they depend on us and are taking advantage of us and our system in a way that we the born poor for the most part can't do (of course there are few exceptions, but they are very few and are exceptions)

Answer 7

Can I swear in this group?
I buy into the theory that the world has been taken over by corporate fascists for the benefit of the ruling class.
Everything that we are told is lies, from the State of the Nation address to advertising.
Of course the rich are getting richer and the poor poorer, it's all over the place if you pull your head out of your *** and look.
Wages aren't just staying the same, they are going down as they take away benefits.
All of history has been conspiracies, so don't tell me I'm a conspiracy nut.
Get your *** out from in front of that TV and pay attention.
We're getting robbed and raped..

Answer 8

g, you really do have a grasp of the situation, it is supply side economic's when the prices rise to a saturation point the poor and middle class will choose do they want to eat or make the house payment then you will see the rich owing a lot of empty houses with no one to sell them to. I have my card board box picked out but I haven't figured out where I am going to relocate yet.

Answer 9

like GORE said/ the checks and Balances are unbalanced/ plain and simple / checks for the RICH / unbalanced for the working CLASS /it's a bunch of horse poop/ Congress can get a raise but the working class can't get know wage increase/ sound's and feels like an unbalance / I agree with move on .org point of view AMEN!!!!! Praise Jesus like bush would say/ Bah hum bug

Answer 10

NO!!!! Are you jealous??? Why don't you work a little harder, you'll be up here with the rest of us, think about it!!!!