Billionaires no longer rich enough to make Forbes list.
By on Sep 21st, 2007 at 1:35 pm
Billionaires no longer rich enough to make Forbes list.
For the first time, $1 billion isn’t enough to land someone on Forbes’ list of the 400 richest Americans. Forbes associated editor Matthew Miller said that there “are 82 American billionaires who do not make the Forbes 400 this year.” Income inequality has grown dramatically in recent years, “with the top 1 percent of Americans — those with incomes that year of more than $348,000 — receiving their largest share of national income since 1928.”
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We’re up to 482 billionaires?
September 21st, 2007 at 1:38 pm“with the top 1 percent of Americans…receiving their largest share of national income since 1928″
Yes, the rich certainly got richer during the 1920’s, and I suppose 1928 was the zenith year. Of course, we all know what happened in 1929.
September 21st, 2007 at 1:41 pmWhat a shit-hole of a country we’re turning into!
September 21st, 2007 at 1:41 pmThe “conservatives” will claim this just proves the system is working. See, all this means is that you all have the opportunity to become multi-billionaires and end up on Forbes’ list. If you fail to do so, it’s only because you’re a lazy piece o’crap. And probably a liberal.
September 21st, 2007 at 1:42 pmLefty Patriot sez:
A veritable Banana Republic.
September 21st, 2007 at 1:42 pmI guess that means we need more tax cuts for the 1%ers. I mean, making that list is important!
Anyone read the ‘One Percent Doctrine’?
September 21st, 2007 at 1:44 pmTripMaster Monkey
A veritable Banana Republic.
You’d like that, wouldn’t you Monkey?
But at least this proves the system is working. The more the rich make compared to us, the harder we’ll work to get to their level. Nothing like a little motivation.
September 21st, 2007 at 1:44 pmAnyone else notice that 6 of the top ten have liberal leanings?
LMFAO at trailer trash conservatives!
September 21st, 2007 at 1:45 pmWow, Buffet’s still at #2? Didn’t he donate a huge pile of his money already, or is that just set up to be donated when he passes on?
September 21st, 2007 at 1:52 pmAlways great news to hear. One more peice of proof the American economy is excelling. Lowest unemployment rate in our history (or close), low inflation, and people are making big money. Couldn’t get any better for sure.
September 21st, 2007 at 1:55 pmAll I want is the chance to prove that money won’t make me happy.
September 21st, 2007 at 1:56 pmat this rate we’ll all be billionaires by the time the Emperor of Mankind is entombed on the Golden Throne.
September 21st, 2007 at 1:56 pmYep, the numbers are looking great. The actual people, on the other hand, aren’t doing so well.
September 21st, 2007 at 1:56 pmAlways great news to hear. One more peice of proof the American economy is excelling. Lowest unemployment rate in our history (or close), low inflation, and people are making big money. Couldn’t get any better for sure.
Comment by Roger_Roger — September 21, 2007 @ 1:55 pm
previous posters saw you coming a mile away
September 21st, 2007 at 1:57 pm#10:
Really? You believe that? That a very small percentage of Americas have a majority of the wealth? And the gap is widening is good news?
September 21st, 2007 at 1:58 pmActually, unemployment was much lower under CLinton.
Anyone can live well under the biggest debt in human history.
COns are the type of people who take out a $50000 cash advance on their credit card then claim they are a financial genius.
September 21st, 2007 at 1:58 pmPolitical leanings of the billionaires oin question aside….christ, 482 billionaires in the country?
Does anyone else NOT see that as a good sign? I don’t care how prosperpous the country is as a whole, 482 Billionaires (most of them likely multi-Billionaires) feels ridiculous.
September 21st, 2007 at 1:58 pmbob h
at this rate we’ll all be billionaires by the time the Emperor of Mankind is entombed on the Golden Throne.
Did you just make a warhammer reference?
previous posters saw you coming a mile away
Also, even for an R^2 post, I had figured it as tongue-in-cheek as most of mine are. Was it not?
September 21st, 2007 at 1:59 pmBut at least this proves the system is working. The more the rich make compared to us, the harder we’ll work to get to their level. Nothing like a little motivation.
That is the funniest thing I’ve read in a long time. So the poor working sods trying to pay for the power in their sh!tty apartments will be motivated by hearing about billionaires. And the fact that the gap between rich & poor is widening is a sign that the system is working. Well, it’s certainly working for the ultra-wealthy. And to hell with the poor. If they wanted to be billionaires they’d just work harder & they’d be there too. They’re just not motivated.
What’s really funny about this is I’ll bet that the average Republican that believes that is very, very far removed from becoming a billionaire. Yet they still believe, while watching the rich get richer, they believe. That is hilarious.
September 21st, 2007 at 2:00 pmGod forbid that we raise their taxes to help retrofit a few old bridges.
September 21st, 2007 at 2:01 pmGot Oligarchy?
…
a.k.a. that 20% …
…
blood money, most of it, no doubt…
September 21st, 2007 at 2:01 pm…
yep, i think i did. your not a heretic, mutant, psyker or xeno are you?
September 21st, 2007 at 2:01 pmDid Cheney make the list?
Halliburton has to have literally made tons of money off the weapons,
bad food and dead children.
September 21st, 2007 at 2:02 pmAlso, even for an R^2 post, I had figured it as tongue-in-cheek as most of mine are. Was it not?
Comment by Squegeeboo — September 21, 2007 @ 1:59 pm
wingnuts of the thickness of Rx2 have severe irony deficiency, and actually believe the lies dished out by the corporate lackeys who laugh at their victims every day and night. don’t forget, this is the same bunch that fellates the Deserter-In-Chief who thinks that a mother working three jobs is uniquely American. They just don’t get it.
September 21st, 2007 at 2:03 pmBring on the Great Depression 2.0!! I’ve already selected a sweet spot in the Hooverville-to-come near my present home, and suggest that others do the same. Stock up on some basic gardening tools and seeds too. Remember everything your Grandparents ever told you about the hard times, because it will soon amount to the most important knowledge you possess. Either that, or max out every available source of credit your family has and hightail it for Central/South America, before their currencies rise in value too much.
Those billionaires will not bat an eye when they see you and yours living on scraps in a ditch somewhere (actually, they’ll only hear about it, as ordinary people are already invisible from their rarified world) - they already firmly believe they’re fundamentally better than you anyway.
That’s what this Country really needs - not another 9/11, but another Great Depression, to restore some humility and common sense to a people who’ve been too vain, spoiled, selfish, and greedy for far too long.
September 21st, 2007 at 2:03 pmbtw, something they should factor into a study like this… in 2002 the US$ was worth $1.62 Cdn. Now they’re even. So in the last 5 years the average billionaire is worth 60% less in terms of Canadian dollars. I wonder if the average billionaire increased their wealth by more then 60%. If not, then they have lost value in real terms.
September 21st, 2007 at 2:04 pmYou work 16 hours and what do you get, a whole lot older and deeper in debt.
This announcement has been brought to you by the Republican party, who also says to middle America, FU.
September 21st, 2007 at 2:04 pmRx2 plays with a lot of Mattel toys, so cut him some slack, please.
September 21st, 2007 at 2:04 pmoff topic - anyone else see the piece on Alternet about the research that proves conclusively that conservatives are lots less intelligent that liberals?
September 21st, 2007 at 2:08 pm29: Well, duh.
September 21st, 2007 at 2:09 pmbob h
yep, i think i did. your not a heretic, mutant, psyker or xeno are you?
Nah, if I was any of those I’d be too busy gaming the system to be on TP
Dave C
September 21st, 2007 at 2:10 pmSo in the last 5 years the average billionaire is worth 60% less in terms of Canadian dollars. I wonder if the average billionaire increased their wealth by more then 60%. If not, then they have lost value in real terms.
I didn’t realize that Canadian dollars are real dollars, and ours are not.
Working harder and getting paid less? Working Overtime and not getting paid for it anymore? Working longer and not able to make ends meet? Corporate execs making 400 times the average worker? Shipping jobs overseas? Highering illegals and firing long time employees? Benefits being cut to the bone? Boss telling you that if you don’t take a pay cut that they will have some foreign sweat shops do the work?
Welcome to capitalizim at it’s worst. You wanted greed American and you got it. Just not the capitalizim that you imagined.
Ignore the “it”
Buck Fush
September 21st, 2007 at 2:12 pmI’m not anywhere near the top 1%, but the tax cuts have helped me.
I daresay that any person who actually earns an income and takes a hard look at their overall tax burden now versus before the Bush tax cuts cannot argue with a straightface that they pay more taxes now. And to pour salt into their wounds, the economy is humming along nicely (bumps in the road don’t qualify as the sky is falling down).
So, unless you are living in your mother’s house, you are a beneficiary of the tax cuts. How you decide to utilize that benefit, of course, is up to you. The smart ones save and invest.
September 21st, 2007 at 2:12 pmThere was also a poll after the 06 election that illustrates how those with college education are more likely to vote dem:
http://www.cnn.com/ ELECTION/ 2006/ pages/ results/ states/ US/ H/ 00/ epolls.0.html
September 21st, 2007 at 2:13 pmBut to be fair, ALL levels of education are more likely to vote dem, as ALL Americans are more likely to vote dem.
September 21st, 2007 at 2:15 pmThis is likely the real “Mission Accomplished” of this administration. Republicans cry “Class Warfare” so that people don’t realize how effectively they’ve carried it out on behalf of the superwealthy.
September 21st, 2007 at 2:15 pmSo, unless you are living in your mother’s house, you are a beneficiary of the tax cuts. How you decide to utilize that benefit, of course, is up to you. The smart ones save and invest.
Comment by JT — September 21, 2007 @ 2:12 pm
When did you escape from the home? You have lost all touch with reality. Personal Selfishness is not a very good measure of the quality of a society.
Man these people are of very low character, these amoral wingnuts.
September 21st, 2007 at 2:16 pmI enjoy the way these economics threads expose the sycophants among us who live their lives clinging to the notion they’ll be wealthy one day. No matter the weight of evidence brought to bear, they whistle through the darkness, clinging to a status quo that will never produce the fortune they lust after, a lust they invariably project onto all people, as though we were all just as one-dimensional and self-serving as they.
September 21st, 2007 at 2:21 pm#12
Ahhh Warhammer 40K reference. NICE! Hopefully America isn’t headed down THAT road. :)
September 21st, 2007 at 2:23 pmoff topic - anyone else see the piece on Alternet about the research that proves conclusively that conservatives are lots less intelligent that liberals?
Comment by tombaker — September 21, 2007 @ 2:08 pm
i hate to say it but…yet more money wasted on a study where the outcome was obvious.
September 21st, 2007 at 2:24 pmI’m not anywhere near the top 1%, but the tax cuts have helped me.
I daresay that any person who actually earns an income and takes a hard look at their overall tax burden now versus before the Bush tax cuts cannot argue with a straightface that they pay more taxes now. And to pour salt into their wounds, the economy is humming along nicely (bumps in the road don’t qualify as the sky is falling down).
So, unless you are living in your mother’s house, you are a beneficiary of the tax cuts. How you decide to utilize that benefit, of course, is up to you. The smart ones save and invest.
Comment by JT — September 21, 2007 @ 2:12 pm
ive gotten back a few hundred bucks…thanks…yet in the time interval of which you speak infrastructure spending declines and ends - broken bridges…id rather have the working bridges than 200 bucks in my wallet.
September 21st, 2007 at 2:26 pmI enjoy the way these economics threads expose the sycophants among us who live their lives clinging to the notion they’ll be wealthy one day. No matter the weight of evidence brought to bear, they whistle through the darkness, clinging to a status quo that will never produce the fortune they lust after, a lust they invariably project onto all people, as though we were all just as one-dimensional and self-serving as they.
Comment by tombaker — September 21, 2007 @ 2:21 pm
we call them 30,000 dollar a year republicans in Texas…lots of those idiots down here. they root for a winning team then slink off when the team starts to lose…
September 21st, 2007 at 2:27 pmdetroitsuperfly
There was also a poll after the 06 election that illustrates how those with college education are more likely to vote dem:
Dude, your link is going to Congressional elections, in which case the dems won the majority of the vote in every educational category. So you could also say that those with no HS degree are also more likely to vote dem.
However, the closest ones where some-college and 4 year degree, while Post grad and No Highschool were blow outs for the dems. If you look up the chart from 2004, you’ll see the Republicans win the some college and 4 year degree, while losing in the post-grad and no high school section.
So basically, it comes down to, people with no education, and people with a post grad degree vote Democrat, and people with anything in between vote Republican, if you want to go with broad generalizations.
September 21st, 2007 at 2:27 pmAlso, looking over my comment, people with no grammar skills vote Republican.
September 21st, 2007 at 2:28 pmForgot one item there -
LOST you pension and now will never be able to retire?
Welcome to Capitalizim World where you get screwed.
It’s about the profits, not about society, when they destroy whole nations, they just move on, no loyality, no nothing.
Enjoy the End of America, you will be seeing it at a family near you.
Ignore the “it”
Buck Fush
September 21st, 2007 at 2:31 pm41 - I think a lot of us have seen our tax cuts disappear into our gas tanks - should we take a poll?
September 21st, 2007 at 2:43 pmOh wait your right. We need to remove the free market democracy we have in place of a communisty system like former Russia had. Then everyone is equally poor. How did that system work out again? You know, the one without freedom, democracy, or a free market (all the anti-american stuff).
September 21st, 2007 at 2:44 pm41 - I think a lot of us have seen our tax cuts disappear into our gas tanks - should we take a poll?
Comment by tombaker — September 21, 2007 @ 2:43 pm
oh yes. good idea.
Before bush i pais 35 bucks to fill my tank, now its abt 50 to 60. anyone else?
September 21st, 2007 at 2:46 pmbob h
Before bush i pais 35 bucks to fill my tank, now its abt 50 to 60. anyone else?
I don’t pay a cent. Buy a bike.
September 21st, 2007 at 2:46 pmOh wait your right. We need to remove the free market democracy we have in place of a communisty system like former Russia had. Then everyone is equally poor. How did that system work out again? You know, the one without freedom, democracy, or a free market (all the anti-american stuff).
Comment by Roger_Roger — September 21, 2007 @ 2:44 pm
r squared thinks that lack of pure capitalism will make us all poor…nope. itll make us more equal. thats what you have a problem with really? isnt it?
September 21st, 2007 at 2:47 pmbob h
Before bush i pais 35 bucks to fill my tank, now its abt 50 to 60. anyone else?
I don’t pay a cent. Buy a bike.
Comment by Squegeeboo — September 21, 2007 @ 2:46 pm
if u live in the northeast ill forgive you for that remark. My workplace is 18 miles away. tray that on a bike and not be sweaty like hell when u arrive to work late b/c theres NO bikepath or safe street. bikes dont solve the problem.
September 21st, 2007 at 2:49 pmOh wait your right. We need to remove the free market democracy we have in place of a communisty system like former Russia had. Then everyone is equally poor. How did that system work out again? You know, the one without freedom, democracy, or a free market (all the anti-american stuff).
Comment by Roger_Roger — September 21, 2007 @ 2:44 pm
There are so many ridiculous elements to this paragraph it’s almost impossible to know where to start.
No, it is impossible.
Roger2, do yourself a favor and take a few basic courses in history, civics and economics. Then get back to us on the “communisty” thing.
September 21st, 2007 at 2:50 pmNo RR, it’s about doing the right thing, and these people are not doing what is right.
You bring up Christian quotes all the time, maybe you should read a few of them again so they set in.
Something about money and heaven or something or another.
Greed and hate is a destructive force, sharing and love is not.
Ignore the “it”
Buck Fush
September 21st, 2007 at 2:51 pmcommunisty.
for peeps with such lousy education repugs sure do make up a lot of words and grammer on the fly.
bravo…your on track to beat bush with new wordsmithing. 9,237 to go retard.
September 21st, 2007 at 2:52 pm50 - ok - i’ll tell my 72 year old mother to get a bicycle to ride to the Dr.’s office. You do the same with your parents, grandparents, or pregnant wife. Try to stretch your imagination beyond your fingertips once in a while and it might just increase your understanding of some of these issues.
Roger - it’s never been a “free” market, and it never will. Ask a real economist, wouldja??
September 21st, 2007 at 2:54 pmThe smart ones save and invest.
Comment by JT — September 21, 2007 @ 2:12 pm
yea… kinda stupid of tonysnowjob to have blown
September 21st, 2007 at 2:55 pmhis healthy salary while at fox, huh…
…
I didn’t realize that Canadian dollars are real dollars, and ours are not.
Comment by Squegeeboo — September 21, 2007 @ 2:10 pm
I didn’t say that. I said you’ve lost value in “real terms”. Perhaps a bad way of phrasing it. Consider the price of oil. If it rose from 2002 to present by 60% in US$ and the Cdn $ rose from 2002 to present by 60% in US$, then the price of oil rose by 60% for you, but not for me. For me the US$ is 60% cheaper then it was 5 years ago, the price of oil in US$ is 60% more so the price of oil in my currency hasn’t changed. You can consider the US% to the yen, euro, whatever you want, it’s worth less. If they stop valuing oil on the world stage in US$ & switch to the euro it could be worthless.
September 21st, 2007 at 2:57 pm58 - you are very correct - it really won’t matter how many dollars one has, when each of those dollars is relatively worthless.
I guess righties would feel like Trumps if they lived in countries who denominate currency differently…
“woohoo for me!!!! i have 10 billion rupees!!! i’m a real billionaire now, Mr. Forbes, put ME in your fancy magazine so that girl from high school will finally know what she missed out on!!!”
flippin numbskulls - they ought to be called BarnumBait, and be made to wear tootsie-pop wrappers as hats to signal their suckerhood.
September 21st, 2007 at 3:04 pmbob h
if u live in the northeast ill forgive you for that remark. My workplace is 18 miles away.
I’m in Rochester, my normal route is anywhere from 8-20 miles each way depending on the mood I’m in. And the 8 mile route is nearly all 4 lane (2 each way) roads. The winter was a blast, drivers are actually considerate for a change, compared to the spring/summer/fall.
18 miles is more towards the longer side to do regulary, but you can do it 1-2 times a week, and build up to 4-5. Helps keep you in shape, great way to unwind from the day, saves you money.
tray that on a bike and not be sweaty like hell when u arrive to work late
If your arriving late, it has nothing to do with how you get there, it’s just your time management being a bit off because your not used to doing it. And sweaty? You take a few minutes to cool down, and you can wipe down in the bathroom, plenty of people do it.
b/c theres NO bikepath or safe street.
I have yet to find an unsafe street, as long as you assert yourself in your lane your fine.
bikes dont solve the problem.
If you do it, it helps you. If enough people do it, it helps everyone. Just like any other suggestion it’s not a total solution, but theres no reason it can’t be part of it.
tombaker
September 21st, 2007 at 3:04 pmi’ll tell my 72 year old mother to get a bicycle to ride to the Dr.’s office. You do the same with your parents, grandparents, or pregnant wife. Try to stretch your imagination beyond your fingertips once in a while and it might just increase your understanding of some of these issues.
Jebus, if you always look for more problems your never going to find a solution. So because your grandmother, wife, and parents can’t bike, that means you can’t? Every little bit helps.
Dave C
I didn’t say that. I said you’ve lost value in “real termsâ€. Perhaps a bad way of phrasing it.
I knew what you meant, I just couldn’t stop myself from the comment, sorry.
September 21st, 2007 at 3:06 pmThis is beyond sick. My bet is that the military industrial complex is responsible for the new billionaires. We all get more poor, lose health insurance, scrimp and save to send our children to college while these “friends of Bush” raid our treasury and get rich off a vanity war.
What has happened to this country. Oh, I remember….corporate control and evangelical conservatives have happened to this country.
September 21st, 2007 at 3:07 pmsqueege - i don’t drive anywhere regularly - i have my own business and work at home. oddly enough, i used to work in the bicycle industry, and rode to work and back every day for years. you don’t need to convince me that it’s a good alternative, but you do have to acknowledge it’s a drop-in-the-bucket solution, and even if you’re not spending your so-called tax break on gas, you are spending it on everything else that has risen in cost over the last 6 years.
btw, i’m emphatically not looking for more problems, but they keep showing up anyway.
September 21st, 2007 at 3:10 pmAlways great news to hear. One more peice of proof the American economy is excelling. Lowest unemployment rate in our history (or close), low inflation, and people are making big money. Couldn’t get any better for sure.
Comment by Roger_Roger
Right, it’s working for the top 2%. For the rest of us, not so much. And, Bush is cooking the books on the unemployment rate like he cooks the books on everything. Salaries have been stagnant ever since Bush took office. People who used to have one job now have to work two jobs to make the same amount of money (thereby artificially inflating the employment numbers). Low inflation - just you wait a few months. People are making big money, only the war profiteers, not the average Joe.
September 21st, 2007 at 3:11 pmI used to byke everyday to work - till I got hit by a car, on purpose. Luckily some motorist got his plate number, and he got charged with assault and got his licience pulled for 2 years and had to pay my doctor bills. I didn’t want to sue him, he was poor redneck trash and did not want to make it any harder on the poor kids he has.
So I am too gun shy about byking to work anymore, too old to get hit again.
But to all who do byke, good work, it does help, and real soon alot more people are gonna have to start byking, they just don’t know it yet.
Ignore the “it”
Buck Fush
September 21st, 2007 at 3:14 pmtombaker
but you do have to acknowledge it’s a drop-in-the-bucket solution, and even if you’re not spending your so-called tax break on gas, you are spending it on everything else that has risen in cost over the last 6 years.
True, it is going to increased costs in other areas. But unlike my friends, as you noted, I no longer have gas, car maintenance, or auto-insurance.
Buckie Boy
September 21st, 2007 at 3:20 pmI used to byke everyday to work - till I got hit by a car
Sorry to hear that, still waiting for my first bad crash. But even accounting for car-bike accidents, most studies put biking as healthier than driving, due to all the hidden benefits.
41 - I think a lot of us have seen our tax cuts disappear into our gas tanks - should we take a poll?
Comment by tombaker
Also, a lot of us have seen our tax cuts disappear into the lack of a raise for the last six years or increased health care costs.
September 21st, 2007 at 3:21 pmThis is hilarious. It’s impossible to tell the parody trolls from the real trolls in this thread. ^_^
September 21st, 2007 at 3:23 pmSquegeeboo - bad part was, he drove off the road on to a Byke Path to hit me. 8-O
September 21st, 2007 at 3:26 pmTripMaster Monkey
This is hilarious. It’s impossible to tell the parody trolls from the real trolls in this thread. ^_^
Have you figured out which kind I am yet?
September 21st, 2007 at 3:29 pmSquegeeboo sez:
I’ve got my suspicions…
September 21st, 2007 at 3:32 pmEvery little bit helps. - Squegeeboo @ 3:04 pm
made your mom proud!
I no longer have gas, car maintenance, or auto-insurance. -@ 3:20 pm
do plan to EVER get married, start a family? …
@ 3:29 pm
you are not a troll… you are a progressive citizen in the making…
September 21st, 2007 at 3:35 pm:-)
Johnny Swank, after reading your first 3 sentences, I have one question:
Are you part of the uneducated vote?
September 21st, 2007 at 3:40 pmJohnny Johnny Johnny, if you noticed we are slamming all of them for not contributing more to their employees. Does it hurt them to give their employees an extra dollar an hour? Does it hurt them to give their employees better health insurance? Does it hurt them to give? No, it doesn’t, and just how much wealth is too much?
It about the inequality, corporate profits trumps mankind, is the problem mind set of the rich.
My wife and I make plenty, but I have rentals and those people are poor and don’t get paid enough nor do they get enough health insurance if any at all. I have kept the rent the same for 6 years (in Seattle too) just to help them out. I let them work for rent too. Give them clothes, tools, and food when I can. I have a daughter going to Mount Holyoke so I am cash strapped now too (3,661.50 a month).
So I guess I do more than most billionares do. (on a % basis)
Ignore the “it”
Buck Fush
September 21st, 2007 at 3:51 pmkaty
do plan to EVER get married, start a family? …
Sure, but I don’t need a car till I have a family, so why pay out the extra money now?
you are not a troll… you are a progressive citizen in the making…
:-)
Shhhh, the RNC will pull my card.
TripMaster Monkey
September 21st, 2007 at 3:55 pmI’ve got my suspicions…
That means I’ve got to try and ride the fence even harder.
Johnny Swank
Bad Grammar=Republican Vote?
Oy mate, I am a republican voter, and I have bad grammar. That’s why I posted that. Because in my previous post, that actually addressed the education issue, I had a whole bunch of punctuation and your/you’re kinda errors.
September 21st, 2007 at 3:57 pmThe owners over there at Google, the liberal billionaire ones, I don’t see them giving it all back and living like 60,000 a year average Americans
They do give to charity, and are very generous to their employees, and now that the’ve hit it big, they are salaried for 1 dollar a year, no bonus, nothing, just that and their stocks from going public, if I remeber correctly.
bob h,
September 21st, 2007 at 4:06 pmyou shouldn’t trash someone’s grammer that puts your own grammar in question!
=)
But it’s mainly because the dollar is worthless nowadays. $1 billion is like $1 million 30 years ago. Maybe not that extreme, but it’s getting there.
You keep hearing about a record stock market, but that’s because the dollar is plummeting. Hell, the Canadian dollar just passed the US dollar for the first time in history.
September 21st, 2007 at 4:23 pmI paid more in income taxes in 2006 than I did in 2000 and I only made $2k more that year. I never saw any cut in my income taxes ever. In fact, some of the credits I could get back then I can’t get now. Thanks.
It’s time to abolish the income tax anyway.
September 21st, 2007 at 4:27 pmThe problem is usury. Money cannot make money nor should it be able to do so. Today money can be created on a hard drive with nothing to back it up.
September 21st, 2007 at 4:31 pmIt’s time to abolish the income tax anyway.
Comment by Alejandro — September 21, 2007
There was no tax cut, it was a tax shift. Tax receipts have increased, if their was a tax cut tax receipts should have dropped, it didn’t.
September 21st, 2007 at 4:33 pmThe dollar is going going gone.
The only thing propping up our economy was the fact that it was the world reserve currency. No longer. The Saudis are bailing.
http://www.telegraph.co.uk/ money/ main.jhtml?xml=/ money/ 2007/ 09/ 19/ bcnsaudi119.xml
This will be a chain reaction. The only reason a lot of countries keep loads of dollars is because China, Japan, and Saudi Arabia do. Once they start dumping it, the value drops, and more and more countries start to drop.
Here it comes. Depression 2.0.
September 21st, 2007 at 4:50 pmJT: “I daresay that any person who actually earns an income and takes a hard look at their overall tax burden now versus before the Bush tax cuts cannot argue with a straightface that they pay more taxes now.”
I daresay????!!!!! What is this, English light opera? Listen, poindexter, more than a few studies show that the middle class is actually paying out more in taxes and fees, not less. Revenue responsibility has been shunted down to the states whenever possible and states are either going bankrupt, raising taxes or borrowing money. Energy is more expensive as is medical care, college expenses and housing. The purchasing power of the average working class person in America has gone DOWN since 2001.
September 21st, 2007 at 7:50 pmI can fully understand why the Forbes-list types support the Bush administration, as it is advantageous for their own financial mega-interests, since a good business-friendly administration will always increase their wealth -no mater how large it is now.
On the other side of the income scale, why the room temperature IQ trolls support everything Bush is still a mystery to me.
Though I have the feeling I just answered my own question.
September 21st, 2007 at 9:32 pmThe smart ones save and invest.
Comment by JT — September 21, 2007 @ 2:12 pm
That is assuming there is any money left to save and invest, after paying all the living expenses.
As for the tax cuts, the standard of living for the average American hasn’t increased -Bush’s tax cuts notwithstanding. Which is ultimately what really matters: Access to health care, education, job security, retirement benefits, etc.
Paying less in taxes, while paying more for private health care -with no job security, to boot- only comforts the fool among us.
September 21st, 2007 at 9:37 pm