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Keyword: wealth

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  • Rich Chinese couple's 8 babies spark anger (Uproar and possible fine for violating one child policy)

    12/25/2011 6:55:04 AM PST · by SeekAndFind · 28 replies
    MSNBC ^ | 12/25/2011
    BEIJING — A rich Chinese couple who had eight babies with the help of two surrogate mothers has been forced to move out of their villa following a public uproar and could face a large fine for breaching strict family planning laws mandating only one child. The couple in the booming southern metropolis of Guangzhou had the children last year, according to state media, but the story only came to light after a picture of the children — four boys and four girls — was used by a photography studio in an advertisement. The story was first featured in the...
  • The Rich Are Getting Richer… Yeah But So Are the Poor

    12/16/2011 1:43:09 PM PST · by SeekAndFind · 4 replies · 1+ views
    Ammo Land ^ | 12/12/2011 | Jarret Skorup
    “No matter your thoughts about the Occupy Wall Street movement, the protesters were right in at least one respect: The rich are getting richer, and the poor are getting poorer.” Variations on this statement were repeated in dozens of blogs, commentaries, and even news reports in the past months. The claim comes via a Congressional Budget Office analysis that shows incomes for the top 1 percent of Americans growing by 275 percent between 1979 and 2007, while the lowest 20 percent saw their inflation-adjusted incomes grow by “only” 18 percent. The numbers from the report are correct, but the assertions...
  • What Is "Rich" and "Poor" In America?

    12/13/2011 7:13:16 AM PST · by SeekAndFind · 9 replies · 1+ views
    Real Clear Markets ^ | 12/13/2011 | Dean Kalahar
    Class warfare and income redistribution rhetoric has always been fashionable among self anointed protestors and politicians who play the old game of divide and conquer, telling us the greedy "rich" need to "pay their fair share." This would be tedious if it did not have serious implications for tearing communities apart. Let's take a look. According to IRS data, there are 1.38 million Americans in the top 1% earning at least $343,927 a year. This is a generous living but hardly the cash flow to purchase a corporate jet and luxury yacht. There are 138,000 Americans in the top .1%...
  • Who are the One Percent?

    12/13/2011 5:50:51 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | December 13, 2011 | Michael Tanner
    So just who are those top 1 percent of Americans that we're all supposed to hate? If you listen to President Obama, the protesters at Occupy Wall Street, and much of the media, it's obvious. They're either "trust-fund babies" who inherited their money, or greedy bankers and hedge-fund managers. Certainly, they haven't worked especially hard for their money. While the recession has thrown millions of Americans out of work, they've been getting even richer. Worse, they don't even pay their fair share in taxes: Millionaires and billionaires are paying a lower tax rate than their secretaries. In reality, each of...
  • Obama: Not redistributing wealth

    12/11/2011 8:00:13 AM PST · by Sub-Driver · 43 replies
    Obama: Not redistributing wealth (CBS News) In a "60 Minutes" interview with Steve Kroft, President Obama disputes the notion he is trying to redistribute wealth with his plans to treat the country's economic ills. He tells Kroft he's just attempting to deliver the "American Deal" of a strong middle class "where everybody is able to do their part and everybody's able to succeed." Kroft spoke to the president yesterday at the White House and Tuesday in Osawatomie, Kan., for a "60 Minutes" interview to be broadcast Sunday, Dec. 11 at 7:00 p.m. ET/PT. In the interview, Kroft points out that...
  • Americans Say $150,000 a Year is ‘Rich’.

    12/09/2011 1:11:16 PM PST · by 2ndDivisionVet · 30 replies
    The Wall Street Journal's The Wealth Report ^ | December 9, 2011 | Robert Frank
    President Obama was criticized by conservatives for suggesting that an income of $250,000 a year made people rich. If anything, however, Mr. Obama may have been aiming too high. A new Gallup poll shows that Americans say they would need to earn a median of $150,000, or have $1 million in total net worth, to consider themselves rich. The $150,000 in income puts you roughly in the top 10%. On the income side, 30% said they would need to earn less than $100,000. And another 18% said $60,000 a year would make them rich. Fully 15% said they would need...
  • Denmark: Charge for cash transactions proposed

    12/07/2011 3:47:35 PM PST · by 4buttons · 5 replies
    Digital payment administrator says consumers need a disincentive to use cash, which they call a costlier payment type than digital alternatives
  • This Will Be The World's Richest Country In 2050

    12/07/2011 7:43:04 AM PST · by blam · 15 replies
    TBI ^ | 12-7-2011 | Joe Weisenthal
    CHART OF THE DAY: This Will Be The World's Richest Country In 2050 Joe Weisenthal Dec. 7, 2011, 9:40 AM Goldman has a new report out on The BRICs countries after 10 years, and how global markets will continue to evolve. Remember, the BRICs are Brazil, Russia, India, and China -- the four countries identified 10 years ago by Goldman's Jim O'Neill as being the global growth-drivers of the next generation. This new report discusses various themes, including the emergence of non-BRIC emerging markets, as well as a general flattening of income equality over the next several years. Goldman also...
  • INFOGRAPHIC: A State-By-State Look At America's Wealth Distribution

    12/06/2011 12:39:11 PM PST · by SeekAndFind · 11 replies
    Business Insider ^ | 12/06/2011 | Madeline Scinto
    With the ongoing conversation everyone has been having on income disparity, here's a Mint Blog infographic analyzing the phenomenon state by state. Unsurprisingly, smaller states with fancy New York City-like commuter neighborhoods are among the richest, while Southern regions are among the poorest. What's truly interesting are a few unexpected states in the second-to-poorest bracket, including Florida, Idaho, and Montana:
  • Poll: Americans support fairer wealth distribution (here we go...)

    12/05/2011 5:15:09 PM PST · by Libloather · 42 replies
    Louisiana Weekly ^ | 12/05/11 | Nisa Islam Muhammad
    Poll: Americans support fairer wealth distributionBy Nisa Islam Muhammad - Contributing Writer 5th December 2011 WASHINGTON (Special to New America Media from FinalCall.com) — On the streets of the nation’s capital, a random downtown workers were asked, “Would America be better if the distribution of wealth was more equal?” Overwhelmingly they answered, “Yes!” “Are you kidding?” said Julius Montgomery on his way to work. “Have you heard about the one percent and the 99 percent? Why should such a small number of Americans make so much more money than the rest of us and we have no chance in hell...
  • Seattle Welfare Recipient lives in Million Dollar Home

    12/03/2011 6:57:25 PM PST · by MamaDearest · 50 replies · 1+ views
    nwcn.com ^ | December 2, 2011 | Chris Ingels
    SEATTLE -- She lives in a beautiful waterfront home on Seattle’s Lake Washington. Yet, she's on welfare assistance.   This week federal agents moved in to put a stop to it. They raided her south Lake Washington home armed with a search warrant.   KING 5 News is not naming the woman or her husband because they have not been criminally charged.   Search warrant documents unsealed Friday in federal court reveal that she received more than $1,200 a month in public housing vouchers, plus monthly cash from the federal and state government for a disability, as well as food stamps.  ...
  • REV. AL SHARPTON: Black Wealth Is Disappearing Along With Jobs

    12/02/2011 6:48:42 AM PST · by SeekAndFind · 28 replies
    Business Insider ^ | 12/02/2011 | Mandi Woodruff
    Rev. Al Sharpton certainly isn't one of the more demure civil rights activists in the country, but the man does know how to prove a point. In an uncharacteristically low-key editorial for The Huffington Post, the one-time Presidential nominee blasts through news reports of rising levels of consumer optimism, calling attention to sectors of the middle class that continue to struggle – namely, African Americans working government-funded industries. "From losing their bargaining rights to bearing the brunt of city and state budget cuts, public service employees are watching their entire life savings disappear," Sharpton writes. "And because about 1 in...
  • Obama: My Kids Will Succeed, Even if USA Doesn't

    12/01/2011 12:06:26 PM PST · by tcrlaf · 63 replies · 1+ views
    Fox News ^ | 12-1-11 | Joel Gehrke
    President Obama believes that Republican leadership of the country would ruin the United States as a land of opportunity, but he's (justifiably) confident that his daughters will have plenty of opportunities, no matter what. "Our kids are going to be fine," Obama told supporters at a campaign event last night. "[T]hey’re on a path that is going to be successful, even if the country as a whole is not successful. But that’s not our vision of America. I don't want an America where my kids are living behind walls and gates, and can’t feel a part of a country that...
  • What You Don't Often Hear About Those 'Greedy' One Percenters

    11/29/2011 9:44:57 AM PST · by 2ndDivisionVet · 10 replies
    Forbes ^ | November 27, 2011 | John Tamny
    The rise of the Occupy Wall Street movement has brought with it a renewed emphasis on the impoverishing notion of envy. To the Occupiers, along with much of the political class, society’s economic rules favor the top 1 percent at the certain expense of the other 99. Great rhetoric for sure, but also quite a lot of nonsense. People who should know better bemoan the economic means possessed by the 1 percent, but rarely do they consider the gargantuan efforts required by those at the top to get there in the first place. To show why this is true it’s...
  • Simon Weston: It's foolish to attack wealth creators

    11/13/2011 6:28:47 AM PST · by Dysart · 5 replies
    Telegraph ^ | 11-13-2011 | Sarah Ewing
    HOW DID YOUR CHILDHOOD INFLUENCE YOUR WORK ETHIC AND ATTITUDE TOWARDS MONEY? My older sister and I were raised by my mother, a district nurse, and stepfather, a fitter's mate [machinist] in a church hospital, so their wages weren't exactly astronomical. But we had the best they could afford. Mam would scrub pub floors just so she could make ends meet or send us on school holidays, so she definitely taught me the value of money. They did their best within their means without leaving themselves short. We both had chores around the house, Mam was fastidious. She never let...
  • Repeal Obama"care" or Dodd-Frank-Durbin: Which one would create the most PRIVATE SECTOR Jobs?

    11/09/2011 11:40:43 AM PST · by Graewoulf · 10 replies
    Graewoulf | November 9, 2011 | Graewoulf
    The Liberal Agenda Media, (LAM), will have another "gotcha," sound-bite, "debate" tonight. This time it will be held in the work-starved State of Michigan. One question that will NOT be asked is "Which of Dictator-in-his-own-mind Obama's signed Laws would create the most PRIVATE SECTOR Jobs if that law were to be repealed tonight?" Would it be the Un-Constitutional, Obama"care," Socialized Medicine Law, or the Jack-Booted, Business Destruction, Dodd/Frank/Durbin Bill/ Law/Bill? What say you?
  • The Real "1 Percent" (80% of millionaires EARNED their money through hard work)

    11/08/2011 1:49:26 PM PST · by SeekAndFind · 14 replies · 1+ views
    Cato Institute ^ | 11/08/2011 | Michael Tanner
    So just who are those top 1 percent of Americans that we're all supposed to hate? If you listen to President Obama, the protesters at Occupy Wall Street, and much of the media, it's obvious. They're either "trust-fund babies" who inherited their money, or greedy bankers and hedge-fund managers. Certainly, they haven't worked especially hard for their money. While the recession has thrown millions of Americans out of work, they've been getting even richer. Worse, they don't even pay their fair share in taxes: Millionaires and billionaires are paying a lower tax rate than their secretaries. In reality, each of...
  • US wealth gap between young and old is widest ever

    11/07/2011 12:14:37 AM PST · by floridarunner01 · 36 replies
    Yahoo News ^ | 11/7/11 | Hope Yen
    WASHINGTON (AP) — The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday. While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly...
  • SLIDESHOW: Opulent homes of ‘the 99 percent’

    11/02/2011 7:51:18 AM PDT · by martosko · 38 replies
    The Daily Caller ^ | 11/02/2011 | Gracie Ferrell and Meg Gasvoda
    Representatives of “the 99 percent” have been camping out in lower Manhattan to protest economic inequality since late September, but the riches on display at some of their home addresses clearly came from “1 percent” families. We searched Google Maps and the real estate Multiple Listing Service for the home addresses police collected during the arrests of less-than-law-abiding New York City “occupiers,” and found dream homes aplenty. These opulent houses include in-ground swimming pools, manicured lawns, and golf course access.
  • NYC arrest records: Many Occupy Wall Street protesters live in luxury

    11/02/2011 7:46:47 AM PDT · by martosko · 12 replies · 1+ views
    The Daily Caller ^ | 11/02/2011 | Will Rahn
    Many “Occupy Wall Street” protesters arrested in New York City reside in more luxurious homes than some of their rhetoric might suggest, a Daily Caller investigation has found. For each of the 984 Occupy Wall Street protesters arrested in New York City between September 18 and October 15, police collected and filed an information sheet recording the arrestee’s name, age, sex, criminal charge, home address and — in most cases — race. The Daily Caller has obtained all of this information from a source in the New York City government. Among addresses for which information is available, single-family homes listed...
  • Obama; wealth gap shows need for fairer approach ("We don't begrudge anyone wealth or success.")

    10/31/2011 7:26:51 AM PDT · by Libloather · 33 replies
    WPIX ^ | 10/29/11 | Alister Bull
    Obama; wealth gap shows need for fairer approachAlister Bull Reuters 6:06 a.m. EDT, October 29, 2011 WASHINGTON (Reuters) - President Barack Obama, seizing on a report that showed America's rich getting richer while the rest of the country struggled to get ahead, said on Saturday that Republicans were thwarting a fairer approach. "Republicans in Congress aren't paying attention. They're not getting the message," the president said in his weekly radio and Internet address. Obama, a Democrat, has tried to tap anger at the super-rich, which has sparked Occupy Wall Street protests nationwide, to push congressional Republicans to pass his $447...
  • The Second Gilded Age: Has America Become an Oligarchy? (Barfwarnung)

    10/28/2011 11:28:34 PM PDT · by Olog-hai · 24 replies
    Der Spiegel ^ | 10/28/2011 | Thomas Schulz
    … Inequality in America is greater than it has been in almost a century. Those fortunate enough to belong to the 1 percent, made up of the super-rich, stand on one side of the divide; the remaining 99 percent on the other. Even for a country that has always accepted opposite extremes as part of its identity, the chasm has simply grown too vast. Those who succeed in the US are congratulated rather than berated. Resenting other people's wealth is viewed as supporting class struggle, which is something very frowned upon. Still, statistics indicate that the growing disparity is genuinely...
  • Chinese Spend More Money On Luxury Goods Than Europe And The U.S. Combined

    10/27/2011 8:47:27 PM PDT · by blam · 22 replies
    TBI ^ | 10-27-2011 | Gus Lubin
    Chinese Spend More Money On Luxury Goods Than Europe And The U.S. Combined Gus Lubin Oct. 27, 2011, 5:06 PM The size of China's luxury boom is absolutely incredible. Here are some facts based on a UBS report: * Last year emerging Asia accounted for around 50% of global luxury sales, most of which came from China. The Chinese probably spent more on luxury than the Americans and Europeans combined. * Emerging Asia accounted for 60% of luxury growth. * Tourists from emerging Asia account for half of luxury sales in Europe and 15% of sales in the U.S. Most...
  • Equally Poorer : Obama does not understand economic inequality.

    10/27/2011 8:39:08 AM PDT · by SeekAndFind · 7 replies
    National Review ^ | 10/27/2011 | Michael Tanner
    As President Obama continues to base his reelection hopes on resentment toward the “1 percent” who are supposedly not “paying their fair share,” the latest evidence suggests that his attacks are still off-target. According to data just released by the Tax Foundation, the top 1 percent of the wealthiest Americans earned 16.9 percent of all adjusted gross income in the United States. While no doubt that’s a lot of money, it actually represents a decline from 2008, when the rich earned 20 percent of all income. That’s right; the rich are earning a smaller proportion of U.S. income. In fact,...
  • “Thou Shalt Not Covet”

    10/25/2011 7:52:48 AM PDT · by Lexluthor69 · 12 replies
    The Silent Majority ^ | 10-25-11 | J.D. Longstreet
    Exodus 20:17 “Thou shalt not covet thy neighbor’s house, thou shalt not covet thy neighbor’s wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor any thing that [is] thy neighbor’s.” No. I am not about to turn my collar around and climb back into my pulpit. If this piece turns out to be a sermon, then – so be it. The Bible verse above is, in fact, the Tenth Commandment. Those of the Judeo-Christian faith understand covetousness to mean: reprehensible acquisitiveness, excessively and culpably desirous of the possessions of another, or — just plain envious...
  • Wealth inequality in America, understanding the source.

    10/23/2011 5:48:55 PM PDT · by SeekAndFind · 14 replies
    Right Condition ^ | 10/22/2011 | Arkady
    With the OWS movement leaving many Americans confused as to whether they should support or stay away, one thing is for certain, Americans are aware of a certain truth that is happening in our country.  We have a certain combination of events that is leaving many people struggling and asking very good questions. The truth is this; We have structurally high unemployment, salaries are stagnant, debt burdens are rising, costs for education, health and energy are on the rise and we are increasingly overwhelmed with clear and present danger coming from every corner of the earth. To make matters worse...
  • Woman scavenging through Athens rubbish bins is a Greek heiress called ONASSIS

    10/21/2011 5:42:37 AM PDT · by Niuhuru · 9 replies
    Daily Mail ^ | 9:22 AM on 21st October 2011 | By Allan Hall
    She looks like any old bag lady scavenging for cast-offs in the rubbish as the world looks the other way. But this is no ordinary woman - she is Olga Onassis, 90, a woman linked by marriage to one of the richest dynasties in the world. She has now fallen, like her country, on desperate times. She is a regular at a church soup kitchen in the Greek capital Athens and roots around in the overflowing garbage containers of the city for clothes.
  • America's Most Expensive Zip Codes [Fiscally irresponsible states have ritziest ZIP Codes]

    10/20/2011 11:18:54 AM PDT · by fight_truth_decay · 7 replies
    Forbes ^ | 10.12.11 Issue | Morgan Brennan
    07620 Is Number One, but 11962 Is Rising Fast Ritzy vacation towns and Lower Manhattan neighborhoods join this year's ZIP codes list. Continue..
  • Thomas Sowell: Spreading the Wealth? (Obama ends up spreading poverty instead)

    10/19/2011 10:12:40 AM PDT · by SeekAndFind · 4 replies
    National Review ^ | 10/19/2011 | Thomas Sowell
    Like so many people, in so many countries, who started out to “spread the wealth,” Barack Obama has ended up spreading poverty. Have you ever heard anyone as incoherent as the people staging protests across the country? Taxpayers ought to be protesting against having their money spent to educate people who end up unable to say anything beyond repeating political catchphrases. It is hard to understand politics if you are hung up on reality. Politicians leave reality to others. What matters in politics is what you can get the voters to believe, whether it bears any resemblance to reality or...
  • Busting The 1% Vs. 99% Myth

    10/18/2011 6:12:56 PM PDT · by Kaslin · 21 replies
    IBD Editorials ^ | October 9, 2011 | Editor
    Inequality: President Obama's class-envy strategy is built on a false premise — that the rich get richer at the expense of the poor. Amazingly, such zero-sum thinking is influencing public opinion. Twice as many Americans support the anti-Wall Street protesters as oppose them. And even Rasmussen is polling that nearly half of Americans support proposals to soak the rich. This is an emotional response to both the hard economic times and dishonest political rhetoric. People are buying into the notion peddled by the left that the rich steal from people. It's a pernicious myth left over from preindustrial Marxism. The...
  • Sharpton: 'Occupy' Movement Ideally About 'How We Distribute The Wealth In This Country'

    10/10/2011 6:05:19 PM PDT · by governsleastgovernsbest · 39 replies
    NewsBusters ^ | Mark Finkelstein
    Thanks, Reverend Al. Really. Sure, we know that the left is all about the redistribution of wealth rather than its generation. Still, it's instructive to hear a leading lefty say it in such stark terms. As clear a statement of the manifesto since candidate Obama told Joe The Plumber that "spread the wealth around" is the way to go. On his MSNBC show this evening, Sharpton declared that his view of the Occupy Wall Street movement is that it should be about "really, how we distribute the wealth in this country." View the video here.
  • Alaskans get $1,174 (yearly) checks from state's oil wealth

    10/10/2011 6:19:44 AM PDT · by Libloather · 37 replies
    Newsminer ^ | 10/06/11
    Alaskans get $1,174 checks from state's oil wealthThe Associated Press Oct 06, 2011 ANCHORAGE, Alaska - Most Alaskans will be getting $1,174 in Permanent Fund dividends on Thursday. **SNIP** Voters passed a constitutional amendment in 1976 to establish the Permanent Fund as a way to stretch out the state's oil wealth for future generations.
  • Double your salary in the middle of nowhere, North Dakota (oil boom)

    10/06/2011 4:23:37 AM PDT · by EBH · 44 replies
    CNN ^ | 9/28/11 | Blake Ellis
    Believe it or not, a place exists where companies are hiring like crazy, and you can make $15 an hour serving tacos, $25 an hour waiting tables and $80,000 a year driving trucks. You just have to move to North Dakota. Specifically, to one of the tiny towns surrounding the oil-rich Bakken formation, estimated to hold anywhere between 4 billion and 24 billion barrels of oil. Oil companies have only recently discovered ways to tap this reserve. And along with the manpower needed to extract the oil, the town is now scrambling to find workers to support the new rush...
  • Living Amid Hollywood Hypocrisy

    10/02/2011 1:00:03 PM PDT · by mom3boys · 12 replies
    Wasington Examiner ^ | Sept. 30, 2011 | Janine Turner
    I had to listen to it for years on sets, at dinners, in rehearsals, in the make-up chair, and at award ceremonies. The judgmental, hot, mostly uninformed rants of Hollywood liberals breathed down my neck and sucked all the air from the room. Usually, the rants were so hostile that I was afraid to speak up, or so ridiculous that I thought it futile to reply. The liberal Hollywood elite, who stand firmly on their right to be heard, their right to express, their right to persuade through art, arrogantly deny that same freedom to anyone who may disagree with...
  • Roseanne(Barr): Rich Should Be Beheaded If They Don’t Give Up Wealth

    10/01/2011 10:35:09 PM PDT · by freejohn · 92 replies
    "I, first, would allow the guilty bankers to pay back anything over $100 million (in) personal wealth, because I believe in the maximum wealth of $100 million. If they're unable to live on that amount, they should go to re-education camps. And if that doesn't work, they should be beheaded."
  • Wealth and Taxes

    09/24/2011 10:04:21 AM PDT · by moneyrunner · 16 replies
    The Virginian ^ | 9/21/2011 | Moneyrunner
    For some reason there is all this hullabaloo about the rich not paying their fair share. Warren Buffett claims that his secretary is paying a higher percentage of her income in taxes than he is, ... But for some reason, while the issue is framed as the rich and their share of taxes, the focus is not on wealth but on income. As anyone who deals with wealth knows, income and wealth are two very different things. Take Warren Buffett as an example. If he did not earn anything for a year, or several years, or for the next century,...
  • What percentage of 400 richest in US are Libs vs Conservatives?

    09/24/2011 9:45:06 AM PDT · by airedale · 20 replies · 1+ views
    9/24/2011 | Vanity
    I forced myself to watch Real Time with Bill Maher last night (gag). He had 3 guests on his panel Micheal Moore, Jane Harmon and John Avlon. Marher and Moore went on a rip about how the richest 400 in the country control more wealth than 50+% of US and how terrible that was. It made me wonder what the split is among those top 400 conservative to liberal. Anyone know? I've heard this meme on other news networks (not MSNBC which I don't watch or Gores attempt at a news channel) so we need an answer. My guess is...
  • The Distribution of Income for 2010: Individuals

    09/14/2011 11:09:13 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | September 14, 2011 | Political Calculations
    According to data just released by the U.S. Census this morning, in 2010, the median income earned by an individual American was $26,197, or rather, 50% of Americans earned more than that amount and 50% earned less than that amount. The average (or mean) income was $38,337. We've presented the cumulative distribution of the total money income earned by individuals in the United States in the chart below: So what percentile does your income place you on that chart? Well, wonder no more! Our latest tool will tell you exactly where you rank among all Americans, or rather, the 211,492,000...
  • How the wealthy keep rolling in it

    09/06/2011 3:20:56 AM PDT · by 1010RD · 11 replies
    BusinessLive ^ | 9/3/11 | TINA WEAVIND
    Ultra-rich people come in a variety of shapes, sizes and ages. But they can generally be divided into two distinct groups when it comes to what they do with their money - there are those who made it and those who inherited it. " Inheritors are far less hungry than the ones who worked for it - Raymond Goss Raymond Goss, investment specialist at Investec, says the first generation with serious money is usually inherently entrepreneurial and entirely focused on wealth creation - they are always on the alert for a great deal and are shrewd and incisive about the...
  • College Students in Favor of Wealth Distribution Are Asked to Pass Their Grade Points...

    08/24/2011 10:30:36 AM PDT · by 5thGenTexan · 22 replies
    Fox News ^ | 8/17/2011 | foxnews.com
    Full Title: College Students in Favor of Wealth Distribution Are Asked to Pass Their Grade Points to Other Students A California college student is conducting a social experiment where he’s trying to get his peers to sign a petition in favor of distributing grade point averages to show how the federal government distributes wealth.
  • College Students in Favor of Wealth Distribution Are Asked to Pass Their Grade Points to Other

    08/18/2011 11:14:19 AM PDT · by Nachum · 14 replies
    fox news ^ | 8/18/11 | staff
    A California college student is conducting a social experiment where he’s trying to get his peers to sign a petition in favor of distributing grade point averages to show how the federal government distributes wealth. Oliver Darcy, a recent college graduate, proposes that students with good grades contribute their GPA to their academically sluggish friends. He argues that this is how the federal government takes wealth from the country’s high wage earners and distributes it to the low income earners.
  • America, the Needy-ful

    08/18/2011 7:53:12 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | August 18, 2011 | Kathy Fettke
    “How can the government help me?” This seems to be a growing sentiment among the American middle class. “The land of opportunity” is quickly becoming the “nation of the needy.” Here’s a question I received from a reader just last week: “I am not happy with how things are going since the Bush Administration allowed tax cuts for businesses and the wealthy. These cuts were supposed to end for those who just keep earning more off the middle class. My question is: I am told that investors can invest as little as $1000.00 in real estate, and make a living...
  • Government dollars fuel wealth: D.C. enclaves reap rewards of contracting boom

    08/16/2011 6:10:57 AM PDT · by PGR88 · 7 replies
    The Washington Post ^ | August 16, 2011 | Annie Gowen
    Millions of dollars worth of federal contracts transformed Anita Talwar from a government accounting clerk into a wealthy woman — one who can afford a $2.8 million home in the Washington suburbs with its own elevator, wine cellar and Swarovski crystal chandeliers. Talwar, a 59-year-old immigrant from India, had no idea that she and her husband would amass a small fortune when she launched a company providing tech support to the federal government in 1987. But she shrewdly took advantage of programs for minority-owned small businesses and rode a boom in federal contracting. Talwar’s success — and that of hundreds...
  • Income does Not equal Wealth

    08/02/2011 10:25:02 AM PDT · by stocksthatgoup · 20 replies
    Vanity | 8/02/2011 | Vanity
    Income does Not equal Wealth. Net Worth equals Wealth. Income equals Net Work!
  • Feds' shortcut to closing wealth gap backfired on minority homeowners (50 yrs in still impoverished)

    07/28/2011 1:24:09 AM PDT · by Cincinatus' Wife · 35 replies
    Orlando Sentinel ^ | Jul 28, 2011 | Mike Thomas
    Did you see the devastating numbers about the wealth of minority families? Their savings have largely been wiped out. White households now have 20 times more wealth than black households and 18 times more wealth than Hispanic households. When you consider the large number of minority households in the middle and upper classes, you get a sense of how devastated lower-income families must be to create such an overall disparity. [snip] Nearly 50 years after President Lyndon Johnson began the War on Poverty, we are as impoverished as ever. There are various reasons. But a big one is this: The...
  • Wealth in America: Whites leave minorities behind

    07/26/2011 1:20:16 PM PDT · by LonelyCon · 148 replies
    MSNBC ^ | July 26, 2011 | MIke Brunker
    As Congress and the White House wrestle whether to raise taxes for the wealthiest Americans, a new analysis of Census data shows that the wealth gaps between whites and blacks and Hispanics widened dramatically during the recession. [Snip] The declines from the recession left the median black household with $5,677 in wealth (assets minus debts, where assets include items like a car, a home, savings, retirement funds, etc.) and the typical Hispanic household with $6,325. White households, by comparison, had $113,149, the study found.
  • The 5 best sentences you'll ever read:

    07/11/2011 6:20:53 PM PDT · by econjack · 48 replies · 1+ views
    email | 7/11/2011 | unknown
    These are possibly the 5 best sentences you'll ever read: 1. You cannot legislate the poor into prosperity, by legislating the wealth out of prosperity. 2. What one person receives without working for, another person must work for without receiving. 3. The government cannot give to anybody anything that the government does not first take from somebody else. 4. You cannot multiply wealth by dividing it. 5. When half of the people get the idea that they do nothave to work because the other half is going to take care of them, and when the other half gets the idea...
  • Are Rich and Powerful People Above the Law in America?

    07/01/2011 9:13:33 AM PDT · by pinochet · 55 replies
    The latest news concerning the Strauss-Kahn rape case, is that prosecutors are considering dropping the case, after Strauss-Kahn's lawyers managed to attack the reputation of the witness. I am convinced that rich and powerful people are above the law in America, because decisions on prosecuting people are made by politicians, or by prosecutors who have an eye on a political career, and do not want to piss off potential donors to their future campaigns. In 1991, William Kennedy Smith, a nephew of Ted Kennedy, RFK, and JFK, was tried for rape. The facts of the case reported in the media...
  • Raise taxes on wealthiest, Obama challenges GOP ("That's not radical," he said)

    06/29/2011 11:40:33 PM PDT · by Libloather · 25 replies
    Yahoo ^ | 6/29/11 | DAVID ESPO
    Raise taxes on wealthiest, Obama challenges GOPBy DAVID ESPO - AP Special Correspondent Wed, Jun 29, 2011 WASHINGTON (AP) — In a blunt challenge to Republicans in Congress, President Barack Obama insisted Wednesday that eliminating selected tax breaks for oil companies and the super-wealthy must be part of any deficit reduction plan. "That's not radical," he said at a White House news conference. He was quick to add that a bipartisan agreement is possible to cut deficits, raise the government's debt limit and avert a threatened financial crisis. Republicans in Congress have been insistent in recent days that any deficit...
  • Dems Deserve Credit for Economy

    06/20/2011 3:13:52 PM PDT · by John Semmens · 4 replies
    A Semi-News/Semi-Satire from AzConservative ^ | 16 June 2011 | John Semmens
    Chairperson of the Democratic National Committee (DNC), Representative Debbie Wasserman-Schultz (D-Flor), urged Democrats to embrace the President’s economic program as a key selling point for voters to elect more Democrats in the 2012 balloting. “People who are focusing on high unemployment and falling home prices are missing some truly impressive signs of an improving economy,” Wasserman-Schultz maintained. “For one, former House Speaker Nancy Pelosi’s net worth rose 62% to $35 million last year. Does that sound like a recession to you?” “Why, even Republicans are doing well,” Wasserman-Schultz added. “Current House Speaker John Boehner (R-Ohio) boosted his wealth by 16%...