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Showing content with the highest reputation on 08/22/2013 in all areas

  1. And yet, study after study shows that within two or three generations, the children, grand-children, and great-grand-children of the ultra-rich by and large ooze their way to the middle class. Dilution by generation, dilution of the work ethic and drive that their ancestor used to amass a fortune, a "spend spend spend!" mentality instead of a "save & invest!" mentality... the money ends up in the general economy, generating more tax receipts as it goes. For the oligarchs and oligarch-connected, even the estate tax doesn't work -- they have set up family foundations and trusts decades in advance. Can anyone say "Kennedy?" Rose Kennedy, who lived in MA all her life and was uber-rich, was found, upon her death, to actually be a legal resident of Florida. Not subject to Mass. estate tax. A cartoon in the New Yorker some years ago showed a couple of guys in suits in a high-rise office. One says to the other, "These new regulations are going to fundamentally alter the way we get around them." And that's about it for the oligarchs and their nepots.
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  2. I have not read the details but I do wonder what percentage of those on welfare or receiving benefits of various kinds are eligible for an entry level job. I suspect some number are middle-aged or older with children; some are unemployed due to downsizing and other reasons but may have many years of experience; some may be too old or disabled to work productively. And are those benefits per person or per family of one, two, five or how many? I suspect it isn't quite as clear cut as many might wish the situation to be. A friend here has been out of a job, downsized, for 4 years after working at a local university for 28 years. She has exhausted unemployment and worked at every chance she has come across including selling tickets at carnivals, thanks to a friend. It isn't so easy to put everyone in one pot and decide what and who is worth what. I couldn't do that. I am astonished at the many who simplify rather easily.
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  3. Forced increases in income simply ratchet all income and expenses upward. Witness increases in minimum wage. Ask anyone that received that increase if they are any more well off than before. The answer is no because all of the increase that the employers had to pay had to be compensated through higher prices. Higher prices and higher taxes ate up all of the increase. IMHO, reducing welfare is the ONLY answer. A recent conversation was witnessed locally where a woman working part time (by choice) at a local grocery store, who receives welfare as does her stay at home husband (by choice) and her adult child living at home (unemployed by choice) and having just got back from a cruise and had just bought a near top of the line refrigerator was heard to say, "you would be surprised at what you can buy when you don't have to spend your money on food". Ya think?
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  4. Yes...I had an issue a couple of months ago...and the rep admitted she was new and didn't know what she was doing.
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  5. This article is the classic conclusion followed by selected facts to support the the desired result !
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  6. And I'm betting it's also uphill in both directions. :)
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