Posted on 09/25/2011 6:52:23 PM PDT by SeekAndFind
Usually, yes, because you don’t understand the concept of ‘process,’ which makes a huge difference in how you view money and how it’s earned.
Ping
Yeah, my bank pays 0.15% on savings accounts, but I think for 1 million I might get the 0.3%. $3000 per year!
My C.U. pays 0.17% and advertizes their home equity loans at 3.40%, 20 times what they pay out on savings accounts.
Most owners of small businesses are taxed on their business income, but need to either to leave the profits in the business to pay their bills or lend it back to the business because of cash flow needs.
So they are not necessarily living on this high income, just taxed on it. Often there is not enough cash flow to pay the profits to the owners due to investment in receivables, inventory and fixed assets.
Dividends and capital gains are subject to double taxation - both at individual and corporate levels. So the 15% tax rate on the indivual is actually 50% on the total taxpayer.
This from the Obama Post?
dogs and cats sleeping together time.
Guess this writer just figured out that he is a millionaire and is about to get hammered. Funny how the press will go along with punitive policies until it affects them.
Maybe he read the book, “The millionaire next door” and couldn’t refute it.
Another myth to add.
From former VP algore. If a person makes 250K per year for 4 years running that makes them a millionaire.
can’t make this stuff up. And he was 2nd in line for the office of the presidency.
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