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Keyword: rich

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  • 'I'm allowed to change': Donald Trump says his tax plan is negotiable - rich probably will pay more

    05/09/2016 7:58:49 AM PDT · by SeekAndFind · 80 replies
    Daily Mail ^ | 05/09/2016 | Nikki Schwab
    * Donald Trump talked about his tax plan on two Sunday shows today, calling it a 'proposal' and a 'floor' * 'It's called life, Chuck,' Trump told Meet the Press host Chuck Todd, explaining that he'll have to negotiate with Congress to get it through * Because of this, Trump lowered some of the expectations, though he said he was open to states increasing the minimum wage. _____________________________________________________ Donald Trump gave himself some wiggle room in the area of taxes, saying what he's proposing most likely won't be the final product and he's 'allowed to change.' 'By the time it...
  • In US, rich may outlive poor by nearly 15 years: study

    04/11/2016 10:57:32 AM PDT · by PROCON · 31 replies
    AFP ^ | April 11, 2016
    Miami (AFP) - The richest Americans tend to outlive the poorest by almost 15 years, and that gap has grown since 2001, said a major study of income and life expectancy this week. The findings, published Sunday in the Journal of the American Medical Association, were based on more than one billion tax records from 1999 to 2014, as well as government mortality statistics. The gap in life expectancy between the richest one percent and the poorest one percent was 14.6 years for men and 10.1 years for women, said the study led by Raj Chetty, an economics researcher at...
  • 10,000 millionaires abandon France over Islam fears

    03/31/2016 6:28:32 PM PDT · by Sean_Anthony · 16 replies
    Canada Free Press ^ | 03/31/16 | Robert Laurie
    Progressives, who inexplicably still seek to coddle the worst humanity has to offer As weíve argued before; when a country fails to solve its problems, those who are capable of leaving will do so. Thereís no reason for a person of reasonable wealth to stay in a nation thatís making his or her life miserable. Thatís not rocket science; itís just simple economics. So, when you look at a nation like France, you might assume that the ugly trifecta of high taxation, high cost of living, and radical Islam is incentivizing the departure of the financially stable. ...And youíd be...
  • France: Exodus of 10,000 millionaires amid rising Muslim tensions

    04/01/2016 5:50:47 AM PDT · by xzins · 63 replies
    IB Times ^ | March 31, 2016 | Ananya Roy
    Rising tensions in France, especially in Paris following a series of Islamist terrorist attacks in 2015, have spurred an exodus of its super-wealthy citizens, a new report on migration trends of millionaires and high-net worth individuals across the world reveals. The report warns that other European countries, including the UK, Belgium, Germany and Sweden "where religious tensions are starting to emerge", will also see similar trends. Regarding a Brexit, the report suggests millionaires would want to stay in Britain even if it leaves the single currency bloc. The report was compiled by New World Wealth, an agency that gives information...
  • Bernie Sanders Net Worth (2 Million Counting Assets)

    02/22/2016 8:15:03 AM PST · by xzins · 35 replies
    Full Net Worth ^ | October 14, 2015
    Born on September 8, 1941 in Brooklyn, New York, Bernie Sanders transferred to University of Chicago from Brooklyn College during his freshman year and got active in Civil Rights Movement. With a degree in political science, Sanders moved to Israel on short term and started working as a writer, filmmaker and researcher to make his living. Bernie Sanders got involved in politics after joining the anti-Vietnam War Liberty Union Party in 1971 after which he ran in and lost elections for the US Senate and governor from 1972 to 1976. He again ran in for the Mayor of Burlington in...
  • PROGRESSIVE ‚ÄúTHOUGHT-BLOCKERS‚ÄĚ: INCOME INEQUALITY

    02/11/2016 8:41:53 AM PST · by Beave Meister · 4 replies
    Front Page Mag ^ | 2/10/2016 | Bruce Thornton
    An ideological construct that exploits envy and resentment for political advantage. Throughout this primary season, Hillary Clinton and self-proclaimed socialist Bernie Sanders have both been flogging the ‚Äúcrisis‚ÄĚ of ‚Äúincome inequality,‚ÄĚ which is ‚Äúat the center of their campaigns,‚ÄĚ according to CNN. Both have scourged the ‚Äúgreed‚ÄĚ of the ‚Äú1%,‚ÄĚ called for higher taxes on the ‚Äúrich,‚ÄĚ and promised to expand and multiply government programs to rectify this injustice. Yet like other slogans progressives rely on, the idea of ‚Äúincome inequality‚ÄĚ is an ideological construct, a statistical artifact that exploits envy and resentment for political advantage. The first problem with...
  • ‚ÄėLaw & Order‚Äô director Jace Alexander pleads guilty to child porn charges

    01/22/2016 11:17:09 AM PST · by Impala64ssa · 13 replies
    Daily News ^ | 1/20/16 | AP
    <p>A television director with credits on ‚ÄúLaw & Order‚ÄĚ and other shows has pleaded guilty to child pornography charges.</p> <p>Westchester County District Attorney Janet DiFiore says 51-year-old Jason (Jace) Alexander pleaded guilty Tuesday to promoting a sexual performance by a child and possessing an obscene performance by a child.</p>
  • Bill Clinton‚Äôs pardon of fugitive Marc Rich continues to pay big

    01/19/2016 3:51:09 PM PST · by george76 · 11 replies
    NY Post ^ | January 17, 2016 | Peter Schweizer
    on Jan. 20, 2001, his last day in office, Bill Clinton issued a pardon for international fugitive Marc Rich. It would become perhaps the most condemned official act of Clinton's political career. A New York Times editorial called it "a shocking abuse of presidential power." The usually Clinton-friendly New Republic noted it "is often mentioned as Exhibit A of Clintonian sliminess." Congressman Barney Frank added, "It was a real betrayal by Bill Clinton of all who had been strongly supportive of him to do something this unjustified. It was contemptuous." Marc Rich was wanted for a list of charges going...
  • ***THE OFFICIAL FRIDAY SILLINESS THREAD***

    01/15/2016 4:48:30 AM PST · by Lucky9teen · 48 replies
    So...I don't need to buy a Powerball ticket, because I already seem to have my fortune waiting for me.... Dearly Beloved Calvary greetings in the name of our Lord and savior Jesus Christ Amen! With a heart heavy laden I write this email to you. I am Mrs. Tumelo Tebogo, (Widow) from South Africa. I was brought up from a motherless babies home, was married to Mr. Masego Tebogo (A Rich Business Man). Before his sudden death in a fatal motor accident we were married for twenty years without a child. Besides, we were both true Christians before died and...
  • What Can the Rich Afford that Average Americans Can't? Consumption Inequality is Decreasing!

    01/07/2016 7:10:36 AM PST · by SeekAndFind · 12 replies
    Foundation for Economic Education ^ | 01/07/2016 | DONALD J. BOUDREAUX
    Raffi Melkonian asks -- as relayed by my colleague Tyler Cowen -- "When can median income consumers afford the very best?"Tyler offers a list of some of the items in the modern, market-oriented world that are as high-quality as such items get and yet are easily affordable to ordinary people. This list includes iPhones, books, and rutabagas. Indeed, this list includes nearly all foods for use in preparing home snacks and meals. I doubt very much that Bill Gates and Larry Ellison munch at home on foods -- such as carrots, blueberries, peanuts, and scrambled eggs -- that an ordinary...
  • Marco Rubio the top GOP choice among rich: CNBC survey (millionaires LOVE Hillary)

    12/11/2015 6:06:29 AM PST · by Libloather · 9 replies
    CNBC ^ | 12/10/15 | Robert Frank
    **SNIP** Among all millionaire voters surveyed - Democrats, Republicans and independents - Hillary Clinton is still the overall favorite. Clinton was the top candidate among 34 percent of total respondents, followed by Rubio with 13 percent. Trump and Carson tied for third, with 9 percent.
  • Rahm Emmanuel Net Worth [Member of the 1%: $14,000,000]

    12/09/2015 12:59:55 PM PST · by SoFloFreeper · 12 replies
    Rahm Emanuel is an American politician who has a net worth of $14 million dollars....
  • Why Millionaires Like Hillary Clinton: Here's why the Democrats are the Real Party of the Rich

    11/10/2015 8:40:21 AM PST · by SeekAndFind · 6 replies
    PJ Media ^ | 11/10/2015 | Tyler O'Neil
    Photo courtesy AP Images Hillary Clinton has one key part of the electorate already in the tank for her candidacy ‚ÄĒ millionaires and CEOs. In Congress, Democrats represent the richest and most unequal districts in America. While liberal pundits attack the GOP as the party of the rich, the real plutocrats are on the other side of the aisle.How can this be? The Democrats rail against the abuses of the "one percent" and run on a platform of reducing income inequality, but the rich continue to support them. Liberals attack unregulated markets, call for unrealistic "green energy" proposals, and...
  • Liberal Logic in Soaking the Rich: They believe the paychecks of the 1% belong to the government

    10/17/2015 7:50:14 PM PDT · by SeekAndFind · 29 replies
    Pajamas Media ^ | 10/17/2015 | Rick Moran
    Interesting piece in the New York Times by Patricia Cohen about how easy it would be to raise taxes on the ‚Äú1%‚ÄĚ in order to see tens of billions of additional revenue for the government.I had to read this twice to make sure it wasn‚Äôt a parody. The top 1 percent on average already pay roughly a third of their incomes to the federal government, according to a Treasury Department analysis that takes into account the entire menu of taxes ¬ó including income tax, payroll taxes that fund Medicare and Social Security, estate and gift taxes, excise and custom...
  • How Did the Democrats Become Favorites of the Rich?

    10/09/2015 3:15:14 PM PDT · by Libloather · 23 replies
    NY Times ^ | 10/07/15 | Thomas B. Edsall
    Voters on both the left and the right often claim that there is no difference between the Democratic and Republican Parties, and of course that isnít true. Thereís a big difference between Elena Kagan and Antonin Scalia, for one thing. But there may be more to this argument than you think. Democrats now depend as much on affluent voters as on low-income voters. Democrats represent a majority of the richest congressional districts, and the partyís elected officials are more responsive to the policy agenda of the well-to-do than to average voters. The party and its candidates have come to rely...
  • Donald Trump: Hey letís tax the wealthy!

    09/28/2015 7:43:39 AM PDT · by SeekAndFind · 77 replies
    Hotair ^ | 09/28/2015 | Taylor Millard
    Donald Trump is expected to release his tax plan at some point today, but he let 60 Minutes in on a little sneak peak. There‚Äôs good news and bad news on the plan. Here‚Äôs the good news first. Donald Trump: I know. I know. I will say this, there will be a large segment of our country that will have a zero rate, a zero rate. And that‚Äôs something I haven‚Äôt told anybody.Scott Pelley: You‚Äôre talking about‚ÄďDonald Trump: We‚Äôre talking about people in the low-income brackets that are supposed to be paying taxes, many of them don‚Äôt anyway.Scott Pelley:...
  • Frank Rich: Carson Benefiting From "Racist,Bigoted" Part Of GOP Base

    09/24/2015 2:08:32 AM PDT · by Biggirl · 30 replies
    Breitbart.com ^ | September 24, 2015 | Ian Hanchett
    New York Magazine Writer-at-Large Frank Rich argued Republican presidential candidate Dr. Ben Carson is benefiting from the ďracist, bigoted part of the Republican baseĒ on Wednesdayís ďCNN Tonight.Ē
  • The Chinese super-rich are about to flood the US real-estate market

    08/30/2015 6:58:19 AM PDT · by SeekAndFind · 53 replies
    Business Insider ^ | 08/30/2015 | Lucinda Shen
    After yet another drop in the Shanghai stock market and Hang Seng index on August 6, Daniel Chang heard his cell phone ping. The real-estate agent was on a business trip in Shanghai, and he was mid-bite during a dinner when he saw his phone light up from a message on his app, WeChat. It was a Chinese client concerned over a $6 million property she was about to buy in New York City. She was visiting New York at the time. "I don't know if I can do this," she told him over voicemail. "I might have to back...
  • Hillary Clinton signals to Jewish donors: Iíll be better for Israel

    07/03/2015 12:27:04 PM PDT · by entropy12 · 22 replies
    Politico ^ | 7/3/15 | K.P. Vogel
    Hillary Clinton is privately signaling to wealthy Jewish donors that ó no matter the result of the Iranian nuclear negotiations ó she will be a better friend to Israel than President Barack Obama. But, even as donors increasingly push Clinton on the subject in private, they have emerged with sometimes widely varying interpretations about whether she would support a prospective deal, according to interviews with more than 10 influential donors and fundraising operatives.
  • Why You Don't Want To Be In California's One Percent

    06/30/2015 4:27:47 AM PDT · by SeekAndFind · 7 replies
    Forbes ^ | 06/30/2015 | Rex Sinquefield
    Tax reform isnít exactly something we associate with California. With the highest income-tax rate in the nation (and the third-worst overall state business tax climate, per the Tax Foundationís most recent rankings), the Golden State offers plenty of practical lessons in how not to run an economy. However, California State Controller Betty Yee recently suggested tax reform that shows a clear understanding of the peril facing Californiaís economy Ė and offers ideas that could restore energy and momentum to a sluggish state business climate. Yee, a Democrat, wants to broaden the state tax base. California bureaucrats have grown far too...
  • Should California rich be able to use as much water as they can afford?

    06/15/2015 9:07:54 AM PDT · by SeekAndFind · 19 replies
    American Thinker ^ | 06/15/2015 | Rick Moran
    There's a serious drought in California, largely the result of government action in saving fish species rather than building additional infrastructure.  Now government in that state has ordered severe restrictions on the use of outdoor sprinkling, causing most of the lawns and gardens in California to shrivel and die. But many of California's wealthy citizens don't think those restrictions apply to them.  They can afford the $800-a-month water bills and don't see a need to stop the sprinklers. One such community is Rancho Sante Fe, where residents increased their water usage by 9% following the announcement by Governor Jerry...
  • Billionaire Bunkers: Inside the World's Largest Planned Doomsday Escape [Revelation 6]

    06/13/2015 11:52:26 AM PDT · by Jan_Sobieski · 32 replies
    Forbes ^ | 6/12/2015 | Jim Dobson
    For the very first time, a modern day Noahís Ark has opened its doors for an exclusive inside look offering up plans for the ultimate Billionaire bunker and doomsday escape. Vivos founder and CEO Robert Vicino announced Vivos Europa One which will be an invitation only, five star, underground survival complex, similar to an underground cruise ship for the elite. Each family will be provided a private 2,500 square foot of floor area, capable of two story improvements for a total of 5,000 square feet of private living quarters. With fit and finish comparable to a mega-yacht, each member family...
  • About Inequality: Rich Get Poorer Over Time, Not Richer

    06/09/2015 5:35:40 AM PDT · by SeekAndFind · 9 replies
    IBD ^ | 06/09/2015 | BY STEPHEN MOORE AND ROB ARNOTT
    It's no secret that the Democrats' 2016 presidential campaign theme will be class warfare ó or as Hillary Clinton calls it, "toppling the rich." Which is "rich," given her own wealth. The left has bought all in to the claim by academics like French economist Thomas Piketty, who argues that capitalism is creating vast dynasties of wealth that are hoarded by a select few oligarchies, with money being handed down from one generation of trust-fund babies to the next. This narrative is mostly rubbish. While today's rich are much richer than the rich of past generations, the rotation among the...
  • I lost $100M ó and Iíve never been happier

    06/06/2015 4:54:42 PM PDT · by lowbridge · 32 replies
    nypost.com ^ | june 5, 2015 | jane ridley
    Manhattan writer†Suzanne Corso, 46, was once a card-carrying member of the 1 percent ó until her financier husband lost their $100 million nest egg in the 2008 fiscal meltdown. Here, the mother of one, who has just published her third novel, ďHello, Hollywood,Ē tells The Postís†Jane Ridley†her very New York story of survival. My 6-year-old daughter doesnít think twice about calling room service from our luxury residential hotel to order a $25 cheeseburger for herself. Itís November 2005 and weíve been living in an 11-room suite at the Ritz-Carlton on West Street for a little more than two years. And...
  • Clift Defends Hillary Clinton's Wealth: FDR Was Rich & Did Great Things For "The Little People"

    05/31/2015 1:41:04 PM PDT · by Libloather · 49 replies
    On this week's edition of the syndicated public affairs show The McLaughlin Group, panelist Eleanor Clift argued Democratic presidential candidate Hillary Clinton's wealth could be good for her. "This is nice work if you can get it and itís the way our society works right now," Clift said. Acknowledging Hillary Clinton "would probably be the richest president ever," Clift likened the former Secretary of State to former President Franklin D. Roosevelt, saying he did great things for the "little people."
  • Americans want the government to "redistribute wealth by heavy taxes on the rich"

    05/05/2015 11:13:23 AM PDT · by Jan_Sobieski · 45 replies
    Vox ^ | MAY 5, 2015 | Matthew Yglesias
    Americans are eager to see the government "spread the wealth around" through heavy taxes on rich people. This, according to Gallup, is a relatively new phenomenon, with a clear preference for soaking the rich really only emerging in the past four or five years. On a different polling measure, Gallup finds that at least since the mid-1980s a large majority of Americans have expressed a preference for a flatter distribution of income. But that's something that could, at least hypothetically, be achieved in a whole variety of ways. Taxing the rich in order to redistribute income to the working class...
  • Hillary's back in first class at end of New Hampshire campaign trip where she railed against the ric

    04/21/2015 6:32:41 PM PDT · by Libloather · 16 replies
    Daily Mail ^ | 4/21/15 | David Martosko
    Hillary's back in first class at end of New Hampshire campaign trip where she railed against the rich - after 80mph race to BOSTON to catch flight with elite seats Hillary Clinton ended her whirlwind New Hampshire campaign swing on Tuesday afternoon in another state entirely, taking taxpayers for an 80 miles-per-hour ride all the way to Boston - to catch a flight with first class seats. **SNIP** After a carefully managed morning event at a community college near the state capitol, Clinton held two private meetings, and then bolted to Boston at speeds 25 mph over the limit posted...
  • How Menendez Ďconspiredí to import rich donorís babes

    04/19/2015 8:07:22 AM PDT · by Libloather · 39 replies
    NY Post ^ | 4/18/15 | Isabel Vincent, Melissa Klein
    They are the models who could bring down a senator. Sen. Robert Menendez mobilized his staff to secure a visa for a Brazilian actress who posed nude on the cover of Sexy magazine; he stepped up for a sultry Ukrainian student who wanted a plastic-surgery consult; and he directd a staff member to ďcall Ambassador asapĒ in order to reverse a visa denial to a 22-year-old Dominican model. The young women were all paramours of Dr. Salomon Melgen, 60, a married eye doctor and one of Menendezís biggest donors, prosecutors charge. The New Jersey Democratís efforts on behalf of Melgenís...
  • Tech titansí latest project: Defy death

    04/05/2015 5:14:40 PM PDT · by Usagi_yo · 16 replies
    Washington Post ^ | 4/4/15 | Ariana Eunjung Cha
    .... Yet the focus kept returning to one subject: Was death an inevitability ó or a solvable problem? ....
  • Stephen King fires back after Maine governor accused him of fleeing to avoid state income taxes

    03/22/2015 4:14:52 PM PDT · by TurboZamboni · 96 replies
    daily mail ^ | 3-21-15 | Belinda Robinson
    A fierce row has broken out between Stephen King and Maine Governor Paul LePage after the governor claimed that the author doesn't pay state income taxes and has moved away from the state. King immediately shot back that LePage should 'man up and apologize' for the comments because he still resides in Maine. LePage's comments came during his weekly radio address when he argued that states without an income tax, like Florida, have lured away Maine residents, including King.
  • Do the rich pay their fair share? [SPOILER: Hell, Yes]

    03/02/2015 9:14:03 AM PST · by SeekAndFind · 18 replies
    Washington Times ^ | 03/02/2015 | Stephen Moore
    Suppose there were a banquet for 100 people and at the end of the night it was time to split the bill of $50 per person. If that bill were paid for the way we pay our income taxes, here is how it would work. Those in the top half of income would pay roughly $97 each and those in the bottom half of the income would pay an average of $3 each. Almost 40 people would pay nothing. And the single richest person in the room would cough up $1,750. Liberals would complain that the cheap skate rich guy...
  • Prosperity Gospel: Are Rich People More Likely to Go to Heaven Than Poor People?

    02/26/2015 8:21:21 AM PST · by pinochet · 58 replies
    Like many Freepers, I was raised in a Christian denomination that did not teach the Prosperity Gospel (PG). In the last few years, I have tried to make sense of the prosperity teachings, and it is possible that I may not fully understand them. But I will explain the PG teachings as best as I am able to understand them. The Prosperity Gospel teaches that rich people are rich, because they engage in the behavior that God approves of, and this means that rich people are blessed by God. But poor people are poor, because they engage in behavior that...
  • World's new largest private yacht that is bigger than a cruise ship and cost £800m is built for one

    02/12/2015 6:42:25 AM PST · by C19fan · 43 replies
    UK Daily Mail ^ | February 12, 2015 | Corey Charlton
    Boasting seven decks, two pools, multiple hot tubs and a 275 square metre master suite, a new record-breaking superyacht is set to redefine the limits of luxury boat building. Costing £788million to build and measuring 222 metres in length, when completed Triple Deuce will be the most expensive and largest superyacht ever constructed. The luxury boat will surpass the remarkable standards set by Chelsea FC owner Roman Abramovich's 163m Eclipse, and the current record-holding 182 metres-long yacht owned by the President of the United Arab Emirates.
  • The Upper Middle Class Is Ruining America

    01/31/2015 9:42:01 AM PST · by C19fan · 54 replies
    Slate ^ | January 30, 2015 | Reihan Salam
    I first encountered the upper middle class when I attended a big magnet high school in Manhattan that attracted a decent number of brainy, better-off kids whose parents preferred not to pay private-school tuition. Growing up in an immigrant household, Iíd felt largely immune to class distinctions. Before high school, some of the kids I knew were somewhat worse off, and others were somewhat better off than most, but we generally all fell into the same lower-middle- or middle-middle-class milieu. So high school was a revelation. Status distinctions that had been entirely obscure to me came into focus. Everything about...
  • The stunning 'boltholes with airstrips' in New Zealand being bought by the world's super-rich

    01/30/2015 6:56:57 AM PST · by C19fan · 71 replies
    UK Daily Mail ^ | January 30, 2015 | Richard Shears
    As world events threaten the comfortable lifestyles of the West's super-rich they have begun buying up fabulous 'bolt hole' properties in the far-away safe haven of New Zealand. The world's elite are snapping up properties in the tiny country, which they see as a shelter from the threat of terrorism, civil unrest and instabilities in the financial markets. Interest in pricey land and homes in the North and South Islands has soared in recent years following terrorist strikes and civil disobedience in North America, the UK and Europe.
  • ĎPoor people donít plan long-term. Weíll just get our hearts brokení

    01/26/2015 12:46:36 AM PST · by CorporateStepsister · 45 replies
    The Guardian ^ | Sunday 21 September 2014 | Linda Tirado
    In the autumn of 2013 I was in my first term of school in a decade. I had two jobs; my husband, Tom, was working full-time; and we were raising our two small girls. It was the first time in years that we felt like maybe things were looking like theyíd be OK for a while. After a gruelling shift at work, I was unwinding online when I saw a question from someone on a forum I frequented: Why do poor people do things that seem so self-destructive? I thought I could at least explain what Iíd seen and how...
  • If you donít understand how people fall into poverty, youíre probably a sociopath

    01/25/2015 6:20:29 PM PST · by 2ndDivisionVet · 59 replies
    The Guardian & Observer ^ | January 24, 2015 | Lucy Mangan
    Why donít abused women just leave their partners? Why donít poor people just spend less? Why do people in positions of power ask so many stupid questions? ĎInequality has become a challenge to us as moral beingsíLast week, I took part in a comedy night to raise money for the charity Refuge, which supports women and children who have experienced domestic violence. It was a great night: partly because it raised several thousands of pounds for the cause; partly because it was sponsored by Benefit cosmetics, and the idea of a benefit being sponsored by Benefit pleased me greatly; and...
  • Solved: Why Poor States Are Red and Rich States Are Blue

    01/05/2015 2:34:47 PM PST · by SeekAndFind · 62 replies
    Forbes ^ | 01/05/2015 | Tim Worstall
    One of the great conundrums of the American political scene is why the poorer states, colloquially known as ďredĒ states, tend to vote Republican or conservative, while the richer states, the ďblueĒ ones (and let it be said that this is very confusing for this European, for over here the colours tend to work the other way around, red is Labour, or left wing) tend to vote Democrat. We would think that it should be the other way around, the poor people voting for more from that Great Big Pinata which is government. But it seems that thereís a simple...
  • Where the Rich Park Wealth

    12/30/2014 5:38:54 AM PST · by SeekAndFind · 10 replies
    Barron's ^ | 12/30/2014 | Robert Milburn
    Donít invest in your home, donít even invest heavily in the stock market, but invest instead in yourself and the fruits of your work. Thatís the path to serious riches Ė and what Americaís wealthiest do.That at least is what emerges from the research of Edward Wolff, the economist at New York University. His study, based on Federal Reserve stats, shows that the top 1%ó worth $7.8 million or moreó keep nearly half of their wealth tied up in their closely-held businesses. This is not an entirely novel revelation. The Wolff study underscores what Penta previously noted in our blog...
  • Party Of The Rich? Not The One Most Think It is

    12/27/2014 10:28:49 AM PST · by SeekAndFind · 4 replies
    IBD ^ | 12/272014
    A look at political donations shows that the big-dollar contributors put their money on the Democrats. So which group is really the party of the rich? For decades, the Democrats have been getting away with portraying Republicans as hateful men who do the bidding of the wealthy at the expense of the country's poor and middle class. Yet as the Associated Press reported just before Christmas, "it's actually the liberal-minded who shelled out the most cash in the just completed midterm elections." What's more, "the two biggest super PACs of 2014," the "Senate Majority PAC and House Majority PAC," were...
  • Democrats the real party of the rich

    12/26/2014 6:53:25 AM PST · by SeekAndFind · 14 replies
    American Thinker ^ | 12/26/2014 | Thomas Lifson
    One of the great misconceptions in American politics is that Republicans are the party of the rich.  That title belongs to the Democrats, who regularly garner the big bucks of America’s moneyed elite.  David Elliott of the AP reports: For as often as Democrats attack the conservative billionaires Charles and David Koch for their heavy spending on politics, it's actually the liberal-minded who shelled out the most cash in the just completed midterm elections. At least, that is, among those groups that must disclose what they raise and spend. Among the top 100 individual donors to political groups, more...
  • Wealthy Chinese kids in the US flaunt supercars at secret meet-ups

    11/28/2014 1:20:27 AM PST · by rjbemsha · 48 replies
    Yahoo Singapore ^ | 28 Nov 2014 | Nurul Azliah Aripin
    They are young, wild, free -- and very, very rich. These wealthy Chinese students go to school in the day and flaunt their social status during private meet-ups at night. These lavish gatherings feature posh venues, designer handbags and blinged out shoes, ladies in stiletto heels and sexy skirts and, of course, supercars -- plenty of them. Maserati, Ferrari, Bentley, Lamborghinis you name it -- they're all on display in neat rows. ďI have three Ferraris, this is my newest one,Ē an interviewee told producer and host Kristie Hang at a supercar meet-up in the San Diego valley in California....
  • Economics Profs Claim a Ninety Percent Income Tax Rate Would Help the Rich

    11/22/2014 5:45:04 PM PST · by SeekAndFind · 61 replies
    College Insurrection ^ | 11/22/2014 | Aleister
    It sounds like these professors graduated from the redistributive school of economics.Christopher White of the College Fix reports. Ninety percent income tax rate would help the rich, economics professors claim Opposing economist asks why disincentives in carbon tax wouldnít apply to income taxEconomists at the University of Pennsylvania and University of Bonn argue that the United States would be better off if well-heeled citizens paid the kind of high tax rates not seen since the Eisenhower administration.According to a working paper by Bonnís Fabian Kindermann and Pennís Dirk Krueger published by the National Bureau of Economic Research, going back...
  • The Rich Can Stop Worrying About A Middle-Class Revolution

    10/22/2014 7:58:05 AM PDT · by blam · 13 replies
    Yahoo - Finance ^ | 10-22-2014 | Rich Newman (^6-27-2014)
    Rich NewmanWednesday, October 22, 2014A stagnant economy has undoubtedly put a lot of financial stress on the middle class. And that is bumming out Americaís 1 percenters. ďOur country is rapidly becoming less a capitalist society and more a feudal society,Ē entrepreneur Nick Hanauer wrote recently in Politico, in an open letter to ďmy fellow zillionaires.Ē Hanauer ó an early investor in Amazon (AMZN) who says he has been involved with more than 30 startups ó cites the well-documented rise in income inequality during the past 30 years as the ultimate cause of a Mad Maxian dystopia he envisions. "If...
  • WOAH! Michelle Obama Takes Swipe at ďRICH KIDSĒ During Speech at Black School in Atlanta (Video)

    09/09/2014 8:36:58 PM PDT · by Nachum · 51 replies
    The Gateway Pundit ^ | 9/9/14 | Jim Hoft
    First Lady Michelle Obama spoke at Booker T. Washington High School, a predominantly black school, in Atlanta on Monday. During her speech a student fainted. Obama paused her speech to make sure the child was attended to, then she took a weird swipe at ďrich kids.Ē White House Dossier posted the transcript: MRS. OBAMA: But hereís the thing Ė- even if youíre working hard and doing everything right, there will still be times when things donít go according to plan. That ever happen to you all? STUDENTS: YesÖ. (student faints) MRS. OBAMA: Are you all still fired up and ready...
  • Single Michigan mom, 24, with two jobs wins $66 MILLION lottery

    08/01/2014 4:52:42 AM PDT · by SoFloFreeper · 95 replies
    NY Daily News ^ | 7/31/14 | Sasha Goldstein
    Kelsey Zachow bought the ticket on Friday the 13th last month, but didn't even know she had the winning slip until 11 days later. The mom of a 7-month-old, Zachow will take home $27 million in the lump sum payment after taxes, and plans to quit her jobs.
  • If we really want to soak the rich, we should abolish the corporate income tax

    07/08/2014 7:02:55 AM PDT · by SeekAndFind · 6 replies
    National Post ^ | 07/08/2014 | Andrew Coyne
    Why do we tax corporations? No, seriously ó why? If youíre like most people and all New Democrats, your response will be ďbecause thatís where the money is,Ē or some variant thereon. Corporations have lots of money, the thinking runs, and are unlikely to mind if the government helps itself to some of it. And since they donít vote, it doesnít much matter if they do mind. An economist, on the other hand, would point out that, one way or another, all of the income earned by a corporation finds its way back to the people who financed it, whether...
  • The Pitchforks Are Coming...For Us Plutocrats

    06/29/2014 8:45:11 PM PDT · by hoagy62 · 38 replies
    Politico.com ^ | 6/29/14 | Nick Hanauer
    You probably donít know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industriesófrom itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. --snip-- But letís speak frankly to each other. Iím not the smartest guy youíve ever met, or the hardest-working. I was a mediocre student. Iím not technical at allóI canít write a word of code. What sets me apart, I think, is...
  • The Definition of ĎRichí Changes With Income

    06/18/2014 6:17:33 AM PDT · by SeekAndFind · 15 replies
    New York Times ^ | 06/18/2014 | Lynn Vavreck
    ďCongratulations, Joe! Youíre rich!Ē John McCain said to Joe Wurzelbacher in the 2008 presidential campaign. Joe was thinking of buying a small plumbing business. He was dismayed to learn from Barack Obama that the candidateís plan to raise marginal tax rates on individuals earning more than $200,000 a year was described as ďtaxing the rich.Ē Mr. Wurzelbacher didnít think he was rich, which makes him a lot like the rest of us. Only 5 percent of Americans describe themselves as ďrich.Ē While ideas about how much money it takes to be rich fluctuate depending on current income, most Americans agree...
  • Why Chinaís rich are leaving

    06/06/2014 7:16:08 AM PDT · by SeekAndFind · 28 replies
    FORTUNE ^ | 06/06/2014 | by Scott Cendrowski
    Pollution, tainted food and education are causing many of the countryís wealthy to flee, survey finds. Earlier this year, the best company at surveying the rich in China announced that more than 60% of the people it surveyed had already immigrated to another country, or were considering doing so. The question for the Hurun Report, which publishes an annual China rich list, was why? Was pollution driving people abroad, weariness over Chinaís political crackdowns, or something else entirely? It turns out the questions also nagged Rupert Hoogewerf, founder of Hurun. At the time, his best guess was that pollution and...