Striking It Richer: The Evolution of Top Incomes in the United States

[Erand7899]

Their wealth does not impinge on my wealth, and my wealth does not impinge on their wealth. My wealth will not change because of any change in their wealth.

That's where you are wrong.

The wealth of other DOES effect you.

Doubt that?

Then you must also believe that the market for investments is NOT an open bid system.

It is, so you are obviously misinformed about how capitalism and this economy actually works.

Some investments are open market, and some are not. Whether any market is open bid, or not, has absolutely nothing to do with my statement. Being outbid by a competitor has no impact on my wealth. It remains the same. Of course, the entity that won the bid may enjoy an increase, or possibly a decrease in its wealth. That doesn't affect my wealth either.

I retired at 55, virtually debt free, and with enough assets and positive cash flow to handle all of my needs and most of my wants. You can rest assured that I have a very good comprehension of markets, the economy, and capitalism. I grew up as a part of the working poor. I retired fairly well off, and all due to capitalism and the opportunities that it offers anyone willing to take advantage of it. I could have stayed active for another 10 years or so, and retired wealthy. I chose not to, because I had other interests that I desired to pursue.

 

[Erand7899]

Like Romeny, he is now not conservative enough!!! duh!

I have a problem with free handouts, I truly do. But I dont have any problem with my government helping others find goof footing in this world. If we have the resources to drip 3 Trillion in Iraq for on good reason at all, we can surly afford to start some sort of job training program. Something serious tho, not just a few weeks.

I would just ask my conservative friends this. As the middle class breaks down due to policy of the past do we just sit idle by and do nothing? FRD got us started back in the 1940's with Govt assistance and work, if things don't improve and the rich/ corporations keep dodging taxes I see little else to do. Unless someone has a better idea. Because guns and talking real loud about how much you love America is not going to fix a thing.

Damn well said!

You talk about bold leadership! The Pubs hated him and his programs which benefited all Americans so much that they fixed it so nobody could ever be elected more than two times. The bold, aggressive maneuvers to create a secret city in rural east Tennessee based upon nothing but technical information which was presented to him by Albert Einstein and Enrico Fermi was unprecedented. The governor of Tennesee didn't even know about Oak Ridge and about 75,000 people were living there.

John Kennedy did the same kind of thing when he declared that we would put a man on the moon and return him safely to the earth and even had the balls to say we would do it during the 60's decade.

I wish some of the Republicans would tell me about some huge project which was funded by private industry with no guarantee of profit. It ain' a gonna happen because they don't even think like that. Republicans and their rich friends and corporations think one way.....how much will I make?

There is rarely any guarantee of profit in the private sector, unless the government gets involved in the project. Then, the government provides the profit. When people invest their own money, they like to think that they have a reasonable chance of getting it back, along with a premium equivalent to the risk they took with that money.

I started with $1300, that I got by cashing in my life insurance policy. I sure as hell was not going to invest that money for your benefit, or anyone else's benefit. I invested that money for the sole purpose of making more money to invest. My purpose was to create a better life for my wife and kids. Not your wife or kids, but my wife and kids.

Various banks and mortgage companies had much larger investments in the houses that I bought than I did. But, I made more money off of those properties than they did. It is a simple economic tenet called leveraging your investment. Try it, you might like it.

 

[Melvin01]

I just figured out why liberals love Che Guevara so much. They love a guy willing to murder for the red flag.

I've never seen a set of balls that big in my life.

And I'm sure you've seen plenty of 'em.

Ol' Cyberman......sees all, knows all.

 

[Melvin01]

Damn well said!

You talk about bold leadership! The Pubs hated him and his programs which benefited all Americans so much that they fixed it so nobody could ever be elected more than two times. The bold, aggressive maneuvers to create a secret city in rural east Tennessee based upon nothing but technical information which was presented to him by Albert Einstein and Enrico Fermi was unprecedented. The governor of Tennesee didn't even know about Oak Ridge and about 75,000 people were living there.

John Kennedy did the same kind of thing when he declared that we would put a man on the moon and return him safely to the earth and even had the balls to say we would do it during the 60's decade.

I wish some of the Republicans would tell me about some huge project which was funded by private industry with no guarantee of profit. It ain' a gonna happen because they don't even think like that. Republicans and their rich friends and corporations think one way.....how much will I make?

There is rarely any guarantee of profit in the private sector, unless the government gets involved in the project. Then, the government provides the profit. When people invest their own money, they like to think that they have a reasonable chance of getting it back, along with a premium equivalent to the risk they took with that money.

I started with $1300, that I got by cashing in my life insurance policy. I sure as hell was not going to invest that money for your benefit, or anyone else's benefit. I invested that money for the sole purpose of making more money to invest. My purpose was to create a better life for my wife and kids. Not your wife or kids, but my wife and kids.

Various banks and mortgage companies had much larger investments in the houses that I bought than I did. But, I made more money off of those properties than they did. It is a simple economic tenet called leveraging your investment. Try it, you might like it.

Hold that line of thinking. Go to the polls and vote for a party which no longer gives a damn for anyone except corporations and the rich. Don't expect to win......they've been found out.

 

[editec]

Their wealth does not impinge on my wealth, and my wealth does not impinge on their wealth. My wealth will not change because of any change in their wealth.

That's where you are wrong.

The wealth of other DOES effect you.

Doubt that?

Then you must also believe that the market for investments is NOT an open bid system.

It is, so you are obviously misinformed about how capitalism and this economy actually works.

Some investments are open market, and some are not. Whether any market is open bid, or not, has absolutely nothing to do with my statement. Being outbid by a competitor has no impact on my wealth. It remains the same. Of course, the entity that won the bid may enjoy an increase, or possibly a decrease in its wealth. That doesn't affect my wealth either.

I retired at 55, virtually debt free, and with enough assets and positive cash flow to handle all of my needs and most of my wants. You can rest assured that I have a very good comprehension of markets, the economy, and capitalism. I grew up as a part of the working poor. I retired fairly well off, and all due to capitalism and the opportunities that it offers anyone willing to take advantage of it. I could have stayed active for another 10 years or so, and retired wealthy. I chose not to, because I had other interests that I desired to pursue.

What don't you understand about the fact that all money in an economy competes for all assets?

Clearly you are thinking micro-economically about a question involving the nature of the macro-economic world, kiddo.