Keyword: wealthy

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  • Chris Rock’s econ bombshell: What his “riots in the streets” prediction says about American Dream

    12/05/2014 8:28:49 PM PST · by 2ndDivisionVet · 40 replies
    Salon ^ | December 3, 2014 | Elias Isquith
    Comedian reveals what it means to be rich today -- and how little the average American really understands about it. I’ve already written a bit about Chris Rock’s must-read interview with Frank Rich and, as much as I enjoy the comedian’s work, I didn’t expect to be returning to it quite so soon. But although Rock’s comments on racism initially drew the most attention, a recent study from Gregory Clark, a researcher at University of California, Davis, has got me thinking that the comedian’s most insightful (and potentially radical) statement came earlier in the interview, during a brief digression about...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • Our Decadent Elite: Rich Liberals and the Progressive Politics of Daddy’s Money

    06/23/2014 7:08:07 PM PDT · by 2ndDivisionVet · 3 replies
    The Other McCain ^ | June 23, 2014 | Robert Stacy McCain
    “Turbulent, discontented men of quality, in proportion as they are puffed up with personal pride and arrogance, generally despise their own order. One of the first symptoms they discover of a selfish and mischievous ambition, is a profligate disregard of a dignity which they partake with others. To be attached to the subdivision, to love the little platoon we belong to in society, is the first principle (the germ as it were) of public affections. It is the first link in the series by which we proceed towards a love to our country, and to mankind. The interest of...
  • Seen At 11: Preparing For The Worst With Luxury Bunkers; Cave Looks Like Extravagant 5-Star Resort

    04/26/2014 5:15:11 PM PDT · by 2ndDivisionVet · 54 replies
    WCBS-TV ^ | April 24, 2014
    (VIDEO-AT-LINK)Preparing for the worst by setting yourself up with only the best. As CBS 2′s Maurice DuBois reported Thursday, luxurious kitchens, swimming pools, even gyms are being added to bunkers built just in case of an emergency. Bomb shelters were a common site in backyards in the Cold War 1950s. But as one bunker promotional video shows, today’s backyard survival bunker looks more like a five-star resort, equipped with everything from an indoor pool and state of the art movie theater, to a dog run and even an interactive classroom — all underground. “The overall scope of the project was...
  • The Wealthy are more worried about being seen as wealthy

    02/13/2014 2:02:01 PM PST · by SeekAndFind · 36 replies
    CNBC ^ | 02/13/2014 | By: Robert Frank
    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.
  • George Will: Progressives take lessons from ‘Downton Abbey’

    02/13/2014 3:24:16 AM PST · by T-Bird45 · 5 replies
    WashPo ^ | 2/12/14 | George Will
    Many “Downton Abbey” watchers are nostalgia gluttons who grieved when Lord Grantham lost his fortune in Canadian railroad shares. There are, however, a discerning few whose admirable American sensibilities caused them to rejoice at Grantham’s loss: “Now perhaps this amiable but dilettantish toff will get off his duff and get a job.” This drama’s verisimilitude extends to emphasizing that his lordship had a fortune to squander only because he married an American heiress. By battening on what they disdained, this republic’s commercial culture, many British aristocrats could live beyond their inherited means — actual work being, of course, unthinkable.
  • Why Obama Pretended He Can Take Economic Action (The Sad Truth of Obama's Speech)

    01/29/2014 11:02:46 AM PST · by nickcarraway · 30 replies
    New York Magazine ^ | 1/29/2014 | Jonathan Chait
    President Obama devoted his State of the Union address to the economy for a simple reason: Americans think he needs to spend more time talking about the economy. They think that because they lack a detailed understanding of the situation in Washington. Obama’s speech was an extended attempt to humor their naivete. The basic underlying fact of the situation is that the economy is growing very slowly because Congressional Republicans have done everything in their power to apply the fiscal brakes to the recovery. Among macroeconomic forecasters, this is not a remotely controversial assertion but rather an obvious fact that...
  • Why Hillary Clinton can't drive any more and other tales of deskilling

    01/29/2014 7:52:14 AM PST · by 2ndDivisionVet · 20 replies
    The Guardian ^ | January 28, 2014 | Leo Benedictus
    The former First Lady admits she hasn't driven a car for 18 years. But she's far from being the only privileged person to have forgotten how to do things the rest of us take for granted. "One of the regrets I have about my public life is that I can't drive any more," Hillary Clinton told a car dealers' conference on Monday. Among her most painful memories, you suspect this doesn't rank all that high. Yet the remark is a reminder of how wealth and power tend to separate people from normal life, and how they don't always like it....
  • State leaders closely watch migrating millionaires

    01/12/2014 2:01:19 PM PST · by 2ndDivisionVet · 70 replies
    The San Francisco Chronicle ^ | January 11, 2014 | Kathleen Pender
    When golfer Phil Mickelson hinted last January that he might leave California because of a big jump in his federal and state tax rates, it was met with such venom that he later apologized, saying it was insensitive to state his opinion publicly when people are living paycheck to paycheck. Mickelson still lives in California, but other wealthy people say they have moved out mainly or partly because of skyrocketing tax rates. Whether you sympathize or not, millionaires' migrating out of California has serious consequences to the state's bottom line and is something state leaders are watching closely. In 2011,...
  • Obama’s Second Term Is All About Climate Change

    U.S. President Barack Obama speaks as he unveils his plan on climate change June 25, 2013 at Georgetown University in Washington, DC. President Obama laid out his plan to diminish carbon pollution and prepare the country for the impacts of climate change. (Photo by Alex Wong/Getty Images) When President Obama leaves office three years from now, the major policy story of his second term — barring some kind of unforeseen invasion — is likely to be climate change. I made this argument at feature length last year, and the evidence continues to mount. Coral Davenport reports today about Secretary of...
  • Obamacare tax could surprise some wealthy filers (0.9 percent - is Congress still exempt?)

    11/11/2013 2:36:21 PM PST · by Libloather · 12 replies
    MSN ^ | 11/11/13
    It's hard to keep all the new Obamacare taxes straight, but there's one that some couples won’t see until they file their 2013 taxes next April, and bizarrely it could mean a surprise tax bill or a refund. It's the 0.9 percent Medicare surtax on wages and self-employment income (not to be confused with the separate new 3.8 percent net investment tax on capital gains, dividends and passive income). **SNIP** The surtax -- or additional Medicare tax (it is levied on top of the Medicare tax you already pay) -- is effective Jan. 1, 2013 and applies to wages and...
  • Wealthy Republican Candidates Seek House

    10/27/2013 12:44:35 AM PDT · by Cincinatus' Wife · 8 replies
    Roll Call ^ | October 25, 2013 | Abby Livingston
    Talk about expensive real estate: A House seat can easily cost millions. Every cycle, a few wealthy candidates dig into their deep pockets to fund their own campaigns. This cycle is on track to be no different — except that Republicans dominate the ranks of potentially self-funding congressional candidates. Democrats constituted some of the richest candidates of 2012, including Reps. John Delaney of Maryland, Suzan DelBene of Washington and Scott Peters of California. All three made Roll Call’s 50 Richest list this year. But in 2014, Republicans boast far more self-funders among their recruits — at least nine so far....
  • Taxes on some wealthy French top 100 pct of income: paper

    05/18/2013 5:14:45 PM PDT · by Beave Meister · 9 replies
    Reuters ^ | 5/18/2013 | Leigh Thomas
    More than 8,000 French households' tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data. The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros ($1.67 million). President Francois Hollande's Socialist government imposed the tax surcharge last year, shortly after taking office, to offset the impact of a rebate scheme created by its conservative predecessor to cap an individual's overall taxation at 50 percent of income. The...
  • Millionaire ID thief gets four years for paying waiters to skim AmEx cards from wealthy customers

    02/26/2013 6:45:16 PM PST · by Beave Meister · 6 replies
    The New York Post ^ | 2/26/2013 | LAURA ITALIANO
    A crafty, millionaire identity thief will spend at least four and a half years in prison after admitting today that he paid waiters at some of Manhattan's fanciest restaurants to skim the AmEx cards of wealthy customers. Between 2010 and 2011, some 265 diners had their Black and Platinum AmEx card information stolen by waiters at Smith & Wollenski, Capital Grille, Wolfgang's Steakhouse and JoJo, all thanks to Luis Damian Jacas, who pleaded guilty on the brink of opening statements in his now-scuttled enterprise corruption trial at Manhattan Supreme Court. Jacas, 42, of Manhattan, paid waiters $500 per Black card,...
  • What Is Middle Class in Manhattan?

    01/20/2013 7:55:47 AM PST · by proxy_user · 28 replies
    New York Times ^ | January 18, 2013 | AMY O’LEARY
    DRIVE through almost any neighborhood around the country, and class divisions are as clear as the gate around one community or the grittiness of another. From the footprint of the house to the gleam on the car in the driveway, it is not hard to guess the economic status of the people who live there. Even the landscape is carved up by class. From 15,000 feet up, you can stare down at subdivisions and tract houses, and America’s class lines will stare right back up at you. Manhattan, however, is not like most places. Its 1.6 million residents hide in...
  • The Real Reason Liberals Want To Raise Taxes On The Rich Has Nothing To Do With Closing The Deficit

    12/26/2012 7:20:59 AM PST · by SeekAndFind · 17 replies
    Business Insider ^ | 12/26/2012 | Joe Weisenthal
    A common argument you hear from conservatives is that raising taxes on the rich is a joke of a deficit reduction proposal, because it hardly makes a dent in the deficit. According to CNBC, reverting to Clinton-era levels would just get you about $40-$45 billion in the first year. GOP Congressman Tom Price has gotten a lot of attention for saying it would only fund government for 8 days... So what is the point? Well, it's not really about deficit reduction at all. Zachary Goldfarb at The Washington Post has a great piece on how Democrats once vehemently opposed the...
  • Kerry Has Investments in Companies Accused of Violating Iran Sanctions

    12/21/2012 10:50:39 AM PST · by Sub-Driver · 22 replies
    Kerry Has Investments in Companies Accused of Violating Iran Sanctions Daniel Halper December 21, 2012 12:59 PM John Kerry, who will be nominated later today to be the next secretary of state, is the richest member of the U.S. Senate. His estimated net worth is, at minimum, $198.65 million, according to disclosure forms. Kerry's disclosure forms also reveal that he has invested in companies accused of doing business with Iran. One of the companies Kerry is invested in is called Petroleo Brasileiro SA Petrobras (Petrobras), it's a Brazilian-based oil and gas corporation. Disclosure forms reveal that Kerry has between $150,000...
  • Let Us Now Praise the 1 Percent (They pay their fair share and much more)

    12/15/2012 10:41:31 AM PST · by SeekAndFind · 9 replies
    National Review ^ | 12/15/2012 | Deroy Murdock
    The scariest thing about lies is that if they are repeated often enough, people eventually assume that they are true, especially when they go largely unchallenged by the victims of those very lies. The president of the United States has lied so often about “the 1 percent” that even House speaker John Boehner, and some wobbly Republicans, have swallowed Obama’s toxic fiction that “fairness” requires the rich to surrender more of their money to Washington — albeit through narrower deductions rather than higher tax rates. Washington’s problem is not a paucity of revenues but a nicotine-like addiction to blowing through...
  • Republicans weigh swallowing tax hike on the wealthy

    12/05/2012 1:55:36 PM PST · by NormsRevenge · 23 replies
    Yahoo! Health ^ | 12/5/12 | Richard Cowan - Reuters
    WASHINGTON (Reuters) - While Republican leaders in the House of Representatives insist that raising tax rates on the rich is an impossibility, some Republican lawmakers now see it as inevitable to avoiding the "fiscal cliff" of severe tax hikes and spending cuts set to start January 1. Congressional aides, who asked not to be identified, said Republicans are losing the public relations battle over keeping low tax rates for the rich and are getting battered by President Barack Obama and his fellow Democrats in Congress following their November 6 election victories. On Capitol Hill aides often play an important role...
  • WaPo/ABC poll: Six in ten favor raising taxes on $250K+ households for fiscal-cliff solution

    11/28/2012 10:25:41 AM PST · by SeekAndFind · 54 replies
    Hotair ^ | 11/28/2012 | Ed Morrissey
    Well, that $80 billion a year will come in handy, no? That's the impression that six in ten Americans have as a solution to the trillion-dollar deficits in the latest Washington Post/ABC poll — and 39% of Republicans, too. The result demonstrates the political leverage of Democrats in the fiscal-cliff fight, and perhaps the leeway for the House GOP to compromise as well: Sixty percent in this ABC News/Washington Post poll support raising taxes on incomes more than $250,000 a year, long a popular option overall, but also a divisive one: While 73 percent of Democrats and 63 percent of...
  • Blood lust

    11/21/2012 1:52:04 PM PST · by Starman417 · 2 replies
    Flopping Aces ^ | 11-21-12 | DrJohn
    An article in the Wall St. Journal paints a gloomy picture for the future U.S. companies are scaling back investment plans at the fastest pace since the recession, signaling more trouble for the economic recovery.Half of the nation's 40 biggest publicly traded corporate spenders have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls. Nationwide, business investment in equipment and software—a measure of economic vitality in the corporate sector—stalled in the third quarter for the first time since early 2009. Corporate investment in new...
  • In 6 Weeks, A New Dividend Tax Will Smack Rich People Upside The Head

    11/17/2012 11:54:57 AM PST · by SeekAndFind · 25 replies
    Business Insider ^ | 11/17/2012 | Henry Blodget
    Unless Congress intervenes, taxes are set to rise significantly on January 1st, when we hit the "fiscal cliff." Most of the focus of this tax increase has been on income taxes. Income taxes for incomes over ~$388,351, for example, are set to revert back to the Clinton-era 39.6% from the current 35%. That's a relatively modest increase, and a 39.6% tax for the top bracket is still historically low. Capital gains taxes are also set to rise, from 15% to 20%. That's a bigger percentage increase, but the resulting capital-gains rate will still be historically low. Screams about how these...
  • Obama Accuses Romney of Trying to Sell Voters a ‘Sketchy Deal’ to Help the Wealthy

    10/19/2012 3:21:25 AM PDT · by Son House · 8 replies
    Washington Post ^ | 10-18-2012 | David Nakamura
    <p>“You’ve heard of the New Deal, the square deal, the fair deal. Mitt Romney’s trying to sell you a sketchy deal. You don’t need a sketchy deal,” Obama said. “The last time this sketchy deal was tried was when the previous administration made the same sales pitch.”</p>
  • If you want the rich to pay more tax, let them grow even richer

    09/26/2012 6:02:59 AM PDT · by SeekAndFind · 2 replies
    The Telegraph ^ | 09/26/2012 | Allister Heath
    One of the most pernicious myths in the current political debate is that the rich don’t pay much tax. This is nonsense, as even a cursory analysis of the official statistics reveals. The top 1pc, who earn £156,000 or above, will pay a whopping 24.2pc of all income tax this year, a much higher contribution than their 10.8pc share of all income. The top 10pc of earners – those on at least £50,500 – will pay 55.3pc of all income tax, also far more than their income share. The most astonishing figure of all is that for the very wealthy:...

    09/23/2012 7:42:28 PM PDT · by jfd1776 · 5 replies
    Illinois Review ^ | September 23, 2012 A.D. | John F. Di Leo
    Speaking in Wisconsin on September 22, 2012, Barack Obama called for tax increases once again, as usual, this time tellingly stating his belief that "I can afford to pay a little bit more… and Mitt Romney sure can afford to pay a little more." Obama is hoping against hope that he can turn back the clock, back to the days when he convinced a majority, of more than enough states, that he and he alone could clean the air, make the oceans recede, brighten the body politic, and fix what was broken in Washington. He hopes to turn back the...
  • Study: Tax Cuts for the Rich Don't Spur Growth

    09/17/2012 4:27:59 PM PDT · by sirchtruth · 50 replies
    CNBC ^ | 09/17/12 | Robert Frank
    Cutting taxes for the wealthy does not generate faster economic growth, according to a new report. But those cuts may widen the income gap between the rich and the rest, according to a new report. A study from the Congressional Research Service -- the non-partisan research office for Congress -- shows that "there is little evidence over the past 65 years that tax cuts for the highest earners are associated with savings, investment or productivity growth." In fact, the study found that higher tax rates for the wealthy are statistically associated with higher levels of growth.
  • Lib Dem emergency tax may force millions to reveal personal wealth - keep society "cohesive"

    08/30/2012 1:16:22 AM PDT · by Cincinatus' Wife · 18 replies
    Telegraph - UK ^ | August 29, 2012 | Robert Winnett
    Millions of people would be forced to disclose the value of their homes, investments and assets under Liberal Democrat plans for an emergency tax on wealth. The Deputy Prime Minister believes that the proposed tax, which would see an annual levy of about half a per cent on the value of a person’s total wealth, could raise billions of pounds to prevent deeper public spending cuts. Experts warned that it would prove “impossible to administer” and other countries were abandoning similar taxes because of the complexities involved. George Osborne said it might also “drive away wealth creators”. The Chancellor said:...
  • The Falling Fortunes of the One Percent

    07/21/2012 12:21:08 PM PDT · by SeekAndFind · 6 replies
    CNBC ^ | 07/21/2012 | Robert Frank
    The presidential election has given us two myths about the rich. First, that their incomes, and income inequality, are at all-time highs. Second, that the wealthy pay less in taxes than ever, and lower taxes than the rest of us. A recent report from the Congressional Budget Office, however, suggests that both may be false. Let’s consider income first. Between 2007 and 2009, after-tax earnings by Americans in the top one percent for income fell 37 percent. On a pre-tax basis they fell 36 percent in the same period. That may sound like a minor haircut for One Percenters compared...
  • The Top 20% Paid 94.1% of Income Taxes in 2009

    07/20/2012 9:00:56 AM PDT · by SeekAndFind · 11 replies
    Carpe Diem ^ | 07/20/2012 | Mark J. Perry
    The Top 20% Paid 94.1% of Income Taxes in 2009 The chart above is based on data in the recently-released CBO report "Distribution of Household Income and Federal Taxes, 2008 and 2009," showing the share of federal income taxes paid by income group in 2009.  In 2009, almost all (94.1%) federal income taxes collected were paid by just one-fifth of Americans (top quintile) and the top 1% paid almost 39% of all taxes collected.  In contrast, the lowest and second quintiles were net "tax collectors" because that 40% of Americans received more in refundable tax credits than they paid...
  • The ‘Tax Cuts for the Wealthiest’ Lie

    07/13/2012 6:48:26 AM PDT · by SeekAndFind · 3 replies
    National Review ^ | 07/13/2012 | Thomas Sowell
    Anyone who wants to study the tricks of propaganda has a rich source of examples in the statements of President Barack Obama. On Monday, July 9, for example, he said that Republicans “believe that prosperity comes from the top down, so that if we spend trillions more on tax cuts for the wealthiest Americans, that that will somehow unleash jobs and economic growth.” Let us begin with the word “spend.” Is the government “spending” money on people whenever it does not tax them as much as it can? Such convoluted reasoning would never pass muster if the mainstream media were...
  • Sorry, America, you’re rich enough. Stop working

    07/06/2012 1:21:30 PM PDT · by SeekAndFind · 16 replies
    American Enterprise | 07/05/2012 | James Pethokoukis
    Listen up, Americans. Listen up, citizens of the world’s advanced economies.Stop. Just stop it.You're rich enough. Well, at least a good chunk of you are. Time to take it easy. Forget your life's work,even if it brings you deep satisfaction. Forget about innovating and producing more with less.You're really just wage slaves, laboring automatons persuaded by slick advertising that you want that new iPad or iPhone. A job is just a way to afford more consumption of stuff you don't really want and sure don't really need. Nothing more.But enough of my exhortations, British historian and John Maynard Keynes biographer...
  • Senate Democrats balk at ending Bush-era tax rates for wealthy (reelection problems)

    06/19/2012 2:52:23 AM PDT · by Libloather · 9 replies
    The Hill ^ | 6/19/12 | Alexander Bolton
    Senate Democrats balk at ending Bush-era tax rates for wealthyBy Alexander Bolton - 06/19/12 05:00 AM ET A growing number of Senate Democrats are signaling they are not prepared to raise taxes on anyone in the weak economy unless Congress approves a grand bargain to reduce the deficit. At least seven Democratic senators have declined to rule out supporting a temporary extension of the Bush-era income tax rates, breaking with party leaders who have called for letting the rates expire for people earning more than $1 million per year. That gives Senate Republicans a chance to push a temporary extension...
  • George Washington Would Be Too Rich To Be President Re: Obama

    04/17/2012 6:12:11 AM PDT · by joeclarke · 14 replies
    JoeClarke.Net ^ | 04/17/2012 | JoeClarke.Net
    I cannot think of a better community organizer than our founding President George Washington. His charge to organize thousands of non professional soldiers to fight a war against the well trained and well equipped Brit Redcoats had to be at least as difficult as President Obama's tireless efforts to round up fellow travelers on the south side of Chicago to harass banks for not lending to people who could not repay loans. Although, we know nothing about Obama's early financing, except that it probably was gifted to him by a sheik, or two, George Washington married into money through his...
  • Obama Goes on Offensive Over Taxes on Wealthy Obama Makes Case for the Buffet Rule

    04/11/2012 3:32:43 AM PDT · by lbryce · 25 replies
    New York Times ^ | April 11, 2012 | Jackie Calmes
    All but certain now that his Republican opponent will be Mitt Romney, President Obama has made his proposed “Buffett Rule” minimum tax for the wealthiest Americans like Mr. Romney a centerpiece of his re-election campaign, defying the political risk of being seen as a tax-and-spender by wary voters. With a rousing speech on Tuesday to a receptive university audience of about 5,000 in this battleground state, Mr. Obama defined the coming contest as a clash of philosophies: His argument that tax fairness and the common good demand the richest Americans pay at least as much as middle-income taxpayers do, contrasted...
  • Wealthy, motivated by greed, are more likely to cheat, study finds

    02/28/2012 8:19:04 PM PST · by thecodont · 35 replies · 1+ views
    Los Angeles Times / ^ | February 27, 2012, 7:07 p.m. | By Eryn Brown, Los Angeles Times
    The rich really are different from the rest of us, scientists have found — they are more apt to commit unethical acts because they are more motivated by greed. People driving expensive cars were more likely than other motorists to cut off drivers and pedestrians at a four-way-stop intersection in the San Francisco Bay Area, UC Berkeley researchers observed. Those findings led to a series of experiments that revealed that people of higher socioeconomic status were also more likely to cheat to win a prize, take candy from children and say they would pocket extra change handed to them in...
  • Skiers and Mormons for Mitt

    02/09/2012 7:31:23 AM PST · by Colofornian · 9 replies
    The American ^ | Feb. 8, 2012 | Henry Olsen
    Mitt Romney never has bad hair days, but yesterday was truly a bad political one. How bad? Consider this: • Romney did not win a single county in either Missouri or Minnesota. • He won the Minnesota caucus by 19 points in 2008, but finished third last night—28 points behind Santorum. • He won nearly 30 percent of the Missouri vote in 2008 in a tight three-man race, but won only 25 percent last night in a race with only one opponent whom the national media had given up for dead. • He won the Colorado caucus by over 40...
  • The Rich are not Conservative

    12/12/2011 9:43:54 AM PST · by Olympiad Fisherman · 13 replies
    The American Thinker ^ | 12/11/2011 | Bruce Walker
    The latest Gallup Poll confirms what most of us had suspected all along: the rich -- that top one percent, the folks whom radical leftists like OWS rail against -- are not as conservative as the rest of us. The greater conservatism of the 99% rest of us is slight -- one percentage point -- but it does bring home the fact that many of those with wealth are rather happy with the struggling middle class keeping to its place ...
  • Many Rich Chinese Consider Leaving

    11/03/2011 7:47:57 PM PDT · by TigerLikesRooster · 27 replies
    WSJ ^ | 11/02/11 | JEREMY PAGE
    Many Rich Chinese Consider Leaving By JEREMY PAGE BEIJING—More than half of China's millionaires are either considering emigrating or have already taken steps to do so, according to a survey that builds on similar findings earlier this year, highlighting worries among the business elite about their quality of life and financial prospects, despite the country's fast-paced growth. The U.S. is the most popular emigration destination, according to the survey of 980 Chinese people with assets of more than 10 million yuan ($1.6 million) published on Saturday by Bank of China and wealth researcher Hurun Report. While growth has slowed, China's...
  • Wealthiest Americans prospered most since 1979, according to government study (AP barf alert)

    10/27/2011 4:39:22 AM PDT · by WOBBLY BOB · 74 replies
    pioneer pressed ^ | 10-27-11 | ap
    WASHINGTON - The richest 1 percent of Americans have been getting far richer over the last three decades while the middle class and poor have seen their after-tax household income only crawl up in comparison, according to a government study. After-tax income for the top 1 percent of U.S. households almost tripled, up 275 percent, from 1979 to 2007, the Congressional Budget Office found. For people in the middle of the economic scale, after-tax income grew by just 40 percent. Those at the bottom experienced an 18 percent increase. "The distribution of after-tax income in the United States was substantially...
  • The Africa They Never Tell You About

    10/26/2011 8:53:18 AM PDT · by Reaganite Republican · 10 replies
    Reaganite Republican ^ | October 26, 2011 | Reaganite Republican
    "Foreign aid might be defined as a transfer  of money from poor people in rich countries  to rich people in poor countries." - Douglas Casey  Namibia's new (presidential) 'State House' I wonder if that hyperactive savior-of-the-downtrodden Bono's ever visited any these cribs -you know, just to see where all the cash he guilt-trips from people (inc. GWB) actually goes...? Just another Nigerian mansion under construction... Living The Good Life in Gabon Ghana's garish Presidential Palace (2005) McMansion in Trasacco Valley , Accra , Ghana Mansion (68 rooms!) belonging to Mugabe's nephew... Zimbabwe Sudanese Presidential Palace Jubilee Palace - Addis Ababa, Ethiopa Palais Presidentiel, Djibouti Palais...
  • BET's Robert Johnson To Obama: Stop Attacking The Wealthy

    10/03/2011 8:12:28 AM PDT · by BuckeyeTexan · 15 replies
    RealClearPolitics ^ | 10/02/2011 | Staff
    BET founder Robert Johnson on the "FOX News Sunday" program: "Well, I think the president has to recalibrate his message. You don't get people to like you by attacking them or demeaning their success. You know, I grew up in a family of 10 kids, first one to go to college, and I've earned my success. I've earned my right to fly private if I choose to do so. "And by attacking me it is not going to convince me that I should take a bigger hit because I happen to be wealthy. You know, it is the old --...
  • Ahmadinejad's Apocalyptic Address

    09/24/2011 1:50:18 PM PDT · by Just4Him · 9 replies
    National Review ^ | 9/23/2011 | Joel C. Rosenberg
    Did you see Ahmadinejad’s apocalyptic address, or read the full text? You should. It’s instructive. Unfortunately, you won’t find Ahmadinejad’s full speech reprinted in the major newspapers. It was pitifully covered by the mainstream media. It should have been carefully analyzed. Ahmadinejad isn’t hiding what he believes. He denied the Holocaust. He blasted the U.S. for bringing Osama bin Laden to justice. He blamed the terrorist attacks of 9/11 on the U.S. government. He insisted that his so-called messiah known as “Imam al-Mahdi” or the Twelfth Imam is coming soon. He insisted that Jesus Christ will come with the Mahdi...
  • Ahmadinejad Calls For Western Navies To Leave Gulf

    09/24/2011 5:44:24 AM PDT · by Fennie · 63 replies
    AFP ^ | September 24, 2011
    NEW YORK - Iran's President Mahmoud Ahmadinejad on Friday called on NATO naval forces to withdraw from the Gulf, calling them a threat to security.
  • I’m for the Rich: A wealthy person gave me my first job. And I’ll bet the same is true of you.

    09/20/2011 7:46:23 AM PDT · by SeekAndFind · 24 replies
    National Review ^ | 09/19/2011 | Mona Charen
    President Obama and the Democrats are finally happy. Liberated from thoughts of compromise with Republicans, they can fully indulge their most lascivious pleasure — trashing rich people. “We simply cannot afford these special lower rates for the wealthy,” President Obama declared in his Rose Garden message Monday. “Give ’Em Hell, Barry” cheered Hendrik Hertzberg of The New Yorker. Hertzberg was chipper. Not so Paul Krugman of the New York Times, the Democratic party’s choleric scold: “The rage of the rich has been building ever since Mr. Obama took office,” he glowered. “And among the undeniably rich, a belligerent sense of...
  • Thomas Sowell: You Can’t Tax the Rich (They'll Flee the Country Before You Can)

    09/15/2011 6:41:23 AM PDT · by SeekAndFind · 14 replies · 1+ views
    National Review ^ | 09/15/2011 | Thomas Sowell
    Ninety years ago — in 1921 — federal income-tax policies reached an absurdity that many people today seem to want to repeat. Those who believe in high taxes on “the rich” got their way. The tax rate on people in the top income bracket was 73 percent in 1921. On the other hand, the rich also got their way: They didn’t actually pay those taxes. The number of people with taxable incomes of $300,000 a year or more — equivalent to far more than $1 million in today’s money — declined from over 1,000 people in 1916 to fewer than...
  • Top of Chinese wealthy's wish list? To leave China

    09/07/2011 3:48:22 AM PDT · by TigerLikesRooster · 16 replies
    AP ^ | 09/07/11 | LOUISE WATT
    Top of Chinese wealthy's wish list? To leave China By LOUISE WATT - Associated Press | AP – 1 hour 21 minutes ago BEIJING (AP) — Chinese millionaire Su builds skyscrapers in Beijing and is one of the people powering China's economy on its path to becoming the world's biggest. He sits at the top of a country — economy booming, influence spreading, military swelling — widely expected to dominate the 21st century. Yet the property developer shares something surprising with many newly rich in China: he's looking forward to the day he can leave. Su's reasons: He wants to...
  • Wealthy Europeans back Warren Buffett's call for higher taxes on the rich

    08/30/2011 5:12:23 AM PDT · by AT7Saluki · 26 replies
    pMSNBC ^ | 8/30/11 | Staff
    Wealthy people across Europe are following in billionaire Warren Buffett's footsteps by calling for higher taxes on the rich. In Germany, a group of 50 people, called "The Wealthy for a Capital Levy," have urged Chancellor Angela Merkel to make people like them pay more in taxes and "stop the gap between rich and poor getting even bigger," The Guardian newspaper reported Tuesday. In France, 16 of the country's wealthiest people, including billionaire L'Oreal heiress Lilliane Bettencourt and oil company Total's chief executive Christophe de Margerie signed a petition calling for wealthy people to make a "special contribution" to the...
  • Washington Post: Taxing the rich fairly can be done — and would raise revenue

    08/24/2011 2:38:56 PM PDT · by SeekAndFind · 69 replies
    Washington Post ^ | 08/23/2011
    IT HAS BEEN a little over a week since billionaire Warren Buffett called for higher taxes on the richest Americans, and now comes the reaction. Harvey Golub, a former chairman and chief executive of American Express, writes in the Wall Street Journal that he “resents” Mr. Buffett’s suggestion. I already pay plenty of taxes, Mr. Golub asserts, adding: “Before you ‘ask’ for more tax money from me and others, raise the $2.2 trillion you already collect each year more fairly and spend it more wisely.” Who’s right? Mr. Golub points out that almost half of the population pays no income...
  • America, the Needy-ful

    08/18/2011 7:53:12 AM PDT · by Kaslin · 11 replies ^ | 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...
  • Why Warren Buffett is wrong (singling out the super-rich for more taxes is misguided)

    08/16/2011 10:50:29 AM PDT · by SeekAndFind · 31 replies
    CNN ^ | 08/16/2011 | Jeffrey Mirron
    -- In a recent New York Times op-ed article, Warren Buffett asserts that the super-rich do not pay enough taxes. He suggests that any new budget deal should raise rates on the super-rich, especially on their "unearned" income from interest, dividends and capital gains. Buffett is wrong. Bad government policies play a major role in generating inappropriately high incomes, but singling out the super-rich is misguided. And the policy Buffett criticizes most -- low tax rates on capital income -- should be expanded, not eliminated. The first problem with Buffett's view is that the number of super-rich is too small...