Skip to comments.The Wealthy are more worried about being seen as wealthy
Posted on 02/13/2014 2:02:01 PM PST by SeekAndFind
Is success being vilified in America? The successful seem to think so.
A new poll from American Express Publishing and Harrison Group finds that 1 percenters no longer like to be seen as such.
One-third of members of the group said they "like it when others recognize me as wealthy." Though that number (taken in the fourth quarter of 2013) may sound high, it's down from 40 percent a year earlier. And it's far below the 53 percent who agreed with the statement in 2010.
(Excerpt) Read more at cnbc.com ...
Is being wealthy the “new gay?”
They might not have as much to worry about, if they were supporting tax policies that didn’t keep people at lower incomes from keeping their wealth.
Over half of our sorry US Senators are Millionaires, and “act” like they are REALLY poor.
Read what happened in Argentina.
I shocked that there are ANY Senators that AREN’T millionaires.
Are you sure on your numbers?
I mean a million bucks is pretty small change these days.
RE: Is being wealthy the new gay?
I Know of a very rich multi-millionaire who told me : “Happy is he who is rich, yet unknown.”
That was over 30 years ago before the gay pride movement.
In that situation, “wealthy” means “having anything at all”.
Former US Senator John “Catch-up” was worth 500 Million, which makes him a Miilionaire, a very wealthy Millionaire, but a Millionaire none the less.
If I were part of the vaunted 1%, I’d be seriously thinking of getting out of the country before the next election.
Obama has spent eight years fanning class warfare, and the next Dem to run is going to be a flaming populist who is only going to double-down on that.
Some sort of awful punishment to placate the masses would be headed my way, I fear.
Chris Martenson: Okay. Bring us up to date. What is happening in Argentina right now with respect to its currency, the peso?
Fernando Aguirre: Well, actually pretty recently, January 22, the peso lost 15% of its value. It has devalued quite a bit. It ended up losing 20% of its value that week, and it has been pretty crazy since then. Inflation has been rampant in some sectors, going up to 100% in food, grocery stores 20%, 30% in some cases. So it has been pretty complicated. Lots of stores don't want to be selling stuff until they get updated prices. Suppliers holding on, waiting to see how things go, which is something that we are familiar with because that happened back in 2001 when everything went down as we know it did.
Chris Martenson: So 100%, 20% inflation; are those yearly numbers?
Fernando Aguirre: Those are our numbers in a matter of days. In just one day, for example, cement in Balcarce, one of the towns in Southern Argentina, went up 100% overnight, doubling in price. Grocery stores in Córdoba, even in Buenos Aires, people are talking about increase of prices of 20, 30% just these days. I actually have family in Argentina that are telling me that they go to a hardware store and they aren't even able to buy stuff from there because stores want to hold on and see how prices unfold in the following days.
I’m more worried that 40 years of hard work will be stolen by State and Federal Gov.
Precisely. When collapse comes the political elite aren’t gonna take the rap. They’re gonna point at the 1% and tell the mob “They stole your stuff, go get ‘em!”
There is more to this than meets the eye. And comparisons with homosexuals are not entirely off base.
Disdain, if not hatred, of the wealthy (or homosexuals) generally is not found when their behavior is ordinary, but when it is “ostentatious”.
But this disdain exists at a low level. Both the wealthy and homosexuals can escalate this disdain to dislike, and even hatred. And it is *not* the fault of those who disdain, dislike, or even hate. They have been provoked.
In the case of the wealthy, disdain becomes dislike when they use their wealth to oppress others, like Al Gore, often in the pursuit of more wealth; but just as often, because they imagine themselves as elites, deserving of special consideration for their wealth.
And the step from this to outright hatred is found in hypocrisy. Again, using Al Gore as an example: he preaches shortage and rationing and control over others, but at the same time, he wastes and squanders what he says others should conserve. And he does so without batting an eye.
His latest rant is typical, that the billionaires of the world should join together to “manage the fertility” of Africans.
How can any reasonable person not hate such a vile man?
Research has shown this to in fact be the case:
General Facts About The New Elite
For every 100 new elite members in the United States:
. The average age is 47 years old
. 90 to 95 made the money themselves; only 5 to 10 inherited it
. 90 are college graduates; 10 are not
. For those who are college graduates, 3 out of 4 did not attend an Ivy League school
. 8 are Asian (defined including those from Indian subcontinent); nearly 3x the rate found in the population
. 96 do not own a yacht; 4 do
. 50 havent furnished their homes in any way that would reflect their economic status
The most shocking statistic about the new elite in the United States? For every 100:
. 80 practice stealth wealth so friends, family, and neighbors dont know they are members of the new elite.
. 20 are known to be rich by family and friends
Yeah, I’m sure the 1%-ers bothered with their poll. How many Hollyweirdoes answered, for example?
The paper mâché stock market corrects big time, a lot more than the 10% some are predicting. All the Fed funny money can't stop the bleeding because the medicine became the poison. Everyone hangs on for a little while, but soon things get even worse. Trillions in planned retirement plans are wiped put. The fear and pain spreads globally. Confidence is gone. A few inner city riots break out, and people begin to sense real panic. There is lots of talk for someone to "do something", but what that is they are not sure. The market cannot recover, and things get even more bleak. The dot com crash, the 2008 crash, and this one convince most that this cannot work. Millions of retirees start to become as desperate as those applying for EBT cards. The tipping point falls full force now, so many are in dire straights that it becomes clear to everyone that things are about to become nationalized even further, even globalized as the US Dollar is no longer the world's reserve currency. The world looks for someone with a plan.
The 1% have little to fear. It’s the 10% or so just below them who bear the brunt of the anger against “the rich”. That’s by design...courtesy of the 1%.
Warren Buffett and his ilk don’t care about income taxes on themselves. They’re already in the club. Now their goal is to keep the club as exclusive as possible. And like any club (or neighborhood, etc.) the best way to do that is to increase the membership fee.
What you say is not going to happen. Fad stocks like Twitter and Facebook might crash, but the solid companies that are paying 4% are not going the crash and start paying 8%.
The one thing that could hit the market hard is higher interest rates, and they don’t seem very likely at the moment.
Heck if you are part of 10%....you are looked at.
And how are they doing that?
A millionaire ain’t nothing anymore..............
Obama likes the wealthy because they give him power and connections.
He likes the poor because he sees them as romantic bohemians who are grateful to him and the ‘giving tree’ of liberalism...
He hates the middle class because he knows we’re the people he robs...
Stocks are currently priced 53% higher than their 10-year average. Of course it could happen.
By buying politician’s influence.
Do you honestly believe that we all pay the same tax rates, with deductions for business expenses and charitable givings?
It would be nice if, in principle, we all could play by the same rules, wouldn’t it?
I’d guess...that was pretty accurate.
I know plenty of people that would be considered “rich”...they don’t buy nothing from any politician.
Their goal is to reduce envy so they can keep most of their wealth. Because they are greatly outnumbered the most effective strategy available to them is appeasement, hence limousine liberalism. The rich fear the Democrat base. They do not fear conservatives at all so openly insult them just like the people they fear.
Oh, you know billionaires?
It’s not an anti-wealth position I take. Everybody should be on the same page in terms of tax rules and regulations. Warren Buffett should not be able to influence Obama’s decision on Keystone, as he has, to delay it so he can make billions of dollars of his railroad, for example.
Or that Obama should not be able to American oil companies access to the Gulf, so that Brazil Oil, which Soros owns a big piece of, can have sole, or nearly sole access to it.
Or that Big corporations can shift their assets out of the country, even though physically those assets and income earned still on American soil, leaving everybody who can’t do this to pick up the slack on taxes.
I guess you would have to tell me what you consider rich...because most folks think $2 million is rich in America.
What do think it is?
I’m not sure why you think I have a problem with the amount of money a person has. I haven’t said a word about somebody having “too much” money in comparison to anybody else.
If you’ve read my posts, instead of just reacting to them, I think you’ll find that I’ve been focusing on how the very wealthy buy and sell influence to create rules for themselves that us, “little people” don’t get access to.
Or do you think that you could get Obama to sign off on legislation giving your company a huge advantage, like Tesla did or Warren Buffett did, or all those failed solar power companies did?
Money is largely irrelevant because however much somebody might have, it always makes it back into the economy eventually.
Most rich folks I know blend in the crowd. You wouldn’t know they were rich unless you knew them fairly well.
She is a free lance writer, educated, liberal, who now finds herself poor. And she laments it, big time.
She is also not alone - the Obama Economy has produced millions more like her.
In my opinion, she was overpaid to begin with when she was making her $100/hr as an author, or making a good living working for companies that no longer exist or need her.
But read the piece, and read the comments. Whether we like it or not, or agree or not, she strikes a nerve with a lot of people who are equally fearful, dismayed, angry, and now very desperate.
Desperate people are never fun to deal with.
I think things are going to get much, much worse for our economy. What we have seen so far is just the opening act.
There will be a lot of people who want someone to save them. That's when things will get truly scary.
I've actually read your posts...in this thread.
And posted responses.....
I try not to use the word..."always"...fwiw-
Good luck...you will have the last word.