Tuesday, June 23, 2009

Kill off the rich.....

Sooner we raise taxes on them the sooner the Empire dies. That's where the money comes from to run this mess.

That's how we get rid of America. Run the guys out of business so we all work for the GOVERNMENT. Be in socialist paradise then.

Where else is wealth created? I guess we could  steal it from small oil producing countries, right?

Taxing the Hell Out of the Rich Isn’t the Answer | AllFinancialMatters
LOL comes across as almost hateful towards the rich, the vast majority of which worked their butts off and made great sacrifices to get where they are. I get the feeling that LOL thinks that most rich people woke up rich.

Personally, I think the middle class’ struggle has much more to do with their inability to prioritize. I would suggest that LOL read The Millionaire Next Door* by Thomas Stanley and William Danko. In that book he will find that most millionaires drive old cars. Take a look around at what most “middle class” people drive and you will probably see that they are driving cars and SUVs that they really can’t afford. Imagine how much money could be saved if we didn’t have to drive $50,000 SUVs.

For example, I was dropping my daughter off at daycare one day and this young woman pulled up in a BMW 740. For those of you not familiar with cars, the BMW 740 is around $80,000 brand new (I could have purchased THREE of my cars for the price of her BMW). No, I do not know this woman’s situation—she could be wealthy and can afford a BMW 740 without harming her finances. But, going on the averages, I would have to say that by driving that car she is forsaking some other important area of her finances.

I think the middle class suffers from the “I deserve it” syndrome.

Take a look at the houses being built these days. They are freaking huge (and freaking expensive)! I grew up in a 900 square foot house (plus a basement) and we were a family of five! We had one bathroom. Yes, times have changed but these bigger homes cost more money and they cost more to maintain. All of this means that they are requiring resources that could be allocated elsewhere (like savings, retirement planning, college funding,…).

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